# EDGAR Filing Document

**Accession Number:** 0001137391
**File Stem:** 0001752724-25-157964
**Filing Date:** 2025-6
**Character Count:** 84395
**Document Hash:** 12402a9e729ee1cfc822f04256406233
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-157964.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-157964

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250731

**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:** 251077032

**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

April 30, 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)

April 30, 2025

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | |
|:---|:---|:---|
| *Security* | *Par* <br>*(000)*<br>| *Value* |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **California — 124.3%** | **California — 124.3%** |  |
| **Corporate**<sup>(a)</sup> **— 19.0%** | **Corporate**<sup>(a)</sup> **— 19.0%** |  |
| California Community Choice Financing Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.00%, 07/01/53 | $12000 | &nbsp;&nbsp; $12437479 |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.00%, 12/01/53 | 6020 | &nbsp;&nbsp; 6241088 |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.50%, 10/01/54 | 10005 | &nbsp;&nbsp; 10768498 |
| &nbsp;&nbsp;&nbsp; Series A-1, Sustainability Bonds, 4.00%, 05/01/53 | 15000 | &nbsp;&nbsp; 14945317 |
| &nbsp;&nbsp;&nbsp; Series B, Sustainability Bonds, 5.00%, 01/01/55 | 9000 | &nbsp;&nbsp; 9256127 |
| &nbsp;&nbsp;&nbsp; Series E-1, Sustainability Bonds, 5.00%, 02/01/54 | 4545 | &nbsp;&nbsp; 4747396 |
| &nbsp;&nbsp;&nbsp; Series F, Sustainability Bonds, 5.00%, 02/01/55 | 9000 | &nbsp;&nbsp; 9512473 |
|  |  | &nbsp;&nbsp; 67908378 |
| **County/City/Special District/School District — 36.8%** | **County/City/Special District/School District — 36.8%** |  |
| &nbsp;&nbsp;&nbsp; Arcadia Unified School District, Refunding GO, 4.00%, <br> 08/01/38<br>| 5000 | &nbsp;&nbsp; 4914746 |
| &nbsp;&nbsp;&nbsp; California Municipal Finance Authority, ST, Series A, <br> 5.13%, 09/01/59<br>| 305 | &nbsp;&nbsp; 308226 |
| &nbsp;&nbsp;&nbsp; California Statewide Communities Development <br> Authority, SAB, Series B, 5.00%, 09/02/52<br>| 565 | &nbsp;&nbsp; 535905 |
| &nbsp;&nbsp;&nbsp; Chabot-Las Positas Community College District, GO, <br> Series C, Election 2016, 5.25%, 08/01/48<br>| 6925 | &nbsp;&nbsp; 7462643 |
| &nbsp;&nbsp;&nbsp; Chino Valley Unified School District, GO, Series B, <br> 4.00%, 08/01/45<br>| 7000 | &nbsp;&nbsp; 6570897 |
| &nbsp;&nbsp;&nbsp; City & County of San Francisco California, Refunding <br> COP, Class A, Sustainability Bonds, 4.00%, 04/01/40<br>| 6635 | &nbsp;&nbsp; 6504715 |
| &nbsp;&nbsp;&nbsp; Cupertino Union School District, GO, Series C, Election <br> 2012, 4.00%, 08/01/40<br>| 4000 | &nbsp;&nbsp; 3885495 |
| &nbsp;&nbsp;&nbsp; Dublin Unified School District, GO, Series B, Election <br> 2020, 4.00%, 08/01/45<br>| 6625 | &nbsp;&nbsp; 6293266 |
| &nbsp;&nbsp;&nbsp; Folsom Cordova Unified School District School Facilities <br> Improvement Dist No. 5, GO, Series B, Election 2014, <br> 4.25%, 10/01/41<br>| 8790 | &nbsp;&nbsp; 8611222 |
| &nbsp;&nbsp;&nbsp; Foothill-De Anza Community College District, Refunding <br> GO, 4.00%, 08/01/40<br>| 5970 | &nbsp;&nbsp; 5948527 |
| &nbsp;&nbsp;&nbsp; Fremont Union High School District, GO, Election 2022, <br> 4.00%, 08/01/48<br>| 3685 | &nbsp;&nbsp; 3537905 |
| &nbsp;&nbsp;&nbsp; Garden Grove Unified School District, GO, Election <br> 2016, 4.00%, 08/01/45<br>| 1320 | &nbsp;&nbsp; 1243147 |
| Gilroy Unified School District, GO, 4.00%, 08/01/36 | 1000 | &nbsp;&nbsp; 997359 |
| &nbsp;&nbsp;&nbsp; Grossmont Union High School District, GO, Series I-2, <br> 4.00%, 08/01/44<br>| 5115 | &nbsp;&nbsp; 4857907 |
| &nbsp;&nbsp;&nbsp; Mount San Antonio Community College District, GO, <br> Series D, Election 2018, 4.00%, 08/01/49<br>| 3500 | &nbsp;&nbsp; 3294386 |
| &nbsp;&nbsp;&nbsp; Mount San Antonio Community College District, <br> Refunding GO, Series 2018-A, Election 2018, 4.00%, <br> 08/01/49<br>| 8000 | &nbsp;&nbsp; 7605164 |
| &nbsp;&nbsp;&nbsp; Mount San Jacinto Community College District, GO, <br> Series B, Election 2014, 4.00%, 08/01/43<br>| 2000 | &nbsp;&nbsp; 1927420 |
| &nbsp;&nbsp;&nbsp; Napa Valley Unified School District, GO, Series A, <br> Election 2016, 4.00%, 08/01/38<br>| 2925 | &nbsp;&nbsp; 2861018 |
| &nbsp;&nbsp;&nbsp; North Orange County Community College District, GO, <br> Series B, Election 2014, 4.00%, 08/01/44<br>| 2680 | &nbsp;&nbsp; 2590377 |
| &nbsp;&nbsp;&nbsp; Novato Unified School District, GO, Series A, 4.00%, <br> 08/01/41<br>| 4385 | &nbsp;&nbsp; 4280711 |
| &nbsp;&nbsp;&nbsp; Peralta Community College District, Refunding GO, <br> Series A, 4.00%, 08/01/32<br>| 3000 | &nbsp;&nbsp; 3000366 |
| &nbsp;&nbsp;&nbsp; San Bernardino City Unified School District, GO, <br> Series D, Election 2012, (AGM), 4.00%, 08/01/42<br>| 1210 | &nbsp;&nbsp; 1145053 |
| San Diego Unified School District, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series L, 4.00%, 07/01/44 | 4035 | &nbsp;&nbsp; 3821416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series O-2, Election 2008, Sustainability Bonds, <br> 5.00%, 07/01/49<br>| 2375 | &nbsp;&nbsp; 2481677 |

---

---

| | | |
|:---|:---|:---|
| *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; $3135040 |
| &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; 2306338 |
| &nbsp;&nbsp;&nbsp; San Jose Evergreen Community College District, GO, <br> Series C, Election 2016, 4.00%, 09/01/45<br>| 3740 | &nbsp;&nbsp; 3535372 |
| &nbsp;&nbsp;&nbsp; San Lorenzo Unified School District, GO, 4.00%, <br> 08/01/41<br>| 345 | &nbsp;&nbsp; 328921 |
| &nbsp;&nbsp;&nbsp; San Mateo Joint Powers Financing Authority, RB, <br> Series A, 5.00%, 07/15/43<br>| 1965 | &nbsp;&nbsp; 2013065 |
| &nbsp;&nbsp;&nbsp; Santa Clara County Financing Authority, RB, Series A, <br> 4.00%, 05/01/45<br>| 3575 | &nbsp;&nbsp; 3369912 |
| &nbsp;&nbsp;&nbsp; Santa Clara Unified School District, GO, Election 2014, <br> 4.00%, 07/01/41<br>| 5000 | &nbsp;&nbsp; 4830720 |
| Tamalpais Union High School District, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series A, Election 2024, 4.00%, 08/01/47 | 4670 | &nbsp;&nbsp; 4454636 |
| &nbsp;&nbsp;&nbsp; Series A, Election 2024, 4.13%, 08/01/49 | 2500 | &nbsp;&nbsp; 2366203 |
| &nbsp;&nbsp;&nbsp; Series A, Election 2024, 4.13%, 08/01/50 | 1605 | &nbsp;&nbsp; 1517468 |
| West Valley-Mission Community College District, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 08/01/44 | 4000 | &nbsp;&nbsp; 3859636 |
| &nbsp;&nbsp;&nbsp; Series B, Election 2012, 4.00%, 08/01/40 | 4775 | &nbsp;&nbsp; 4717106 |
|  |  | &nbsp;&nbsp; 131113965 |
| **Education — 4.4%** | **Education — 4.4%** |  |
| &nbsp;&nbsp;&nbsp; California Enterprise Development Authority, RB, 8.00%, <br> 11/15/62<sup>(b)</sup><br>| 540 | &nbsp;&nbsp; 526045 |
| California Municipal Finance Authority, Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/39 | 325 | &nbsp;&nbsp; 271410 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/48 | 510 | &nbsp;&nbsp; 386089 |
| &nbsp;&nbsp;&nbsp; California School Finance Authority, RB, Series A, <br> 5.00%, 06/01/58<sup>(b)</sup><br>| 2120 | &nbsp;&nbsp; 1931051 |
| California School Finance Authority, Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.50%, 08/01/43 | 130 | &nbsp;&nbsp; 133630 |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.50%, 08/01/47 | 125 | &nbsp;&nbsp; 126738 |
| University of California, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series AV, 5.00%, 05/15/47 | 8440 | &nbsp;&nbsp; 8511854 |
| &nbsp;&nbsp;&nbsp; Series CC, 5.00%, 05/15/53 | 3790 | &nbsp;&nbsp; 3954450 |
|  |  | &nbsp;&nbsp; 15841267 |
| **Health — 12.6%** | **Health — 12.6%** |  |
| &nbsp;&nbsp;&nbsp; California Health Facilities Financing Authority, RB, <br> Series A, 5.00%, 11/15/48<br>| 6190 | &nbsp;&nbsp; 6198483 |
| &nbsp;&nbsp;&nbsp; California Health Facilities Financing Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 08/15/40 | 1350 | &nbsp;&nbsp; 1318113 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 11/15/48 | 10695 | &nbsp;&nbsp; 10708962 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 08/15/51 | 5000 | &nbsp;&nbsp; 5163801 |
| &nbsp;&nbsp;&nbsp; Series A-2, Class B, (BAM-TCRS), 4.00%, 11/01/44 | 15765 | &nbsp;&nbsp; 15246702 |
| &nbsp;&nbsp;&nbsp; California Public Finance Authority, RB, Series A, 6.38%, <br> 06/01/59<sup>(b)</sup><br>| 2725 | &nbsp;&nbsp; 2464067 |
| &nbsp;&nbsp;&nbsp; California Statewide Communities Development <br> Authority, Refunding RB, 5.00%, 10/01/45<br>| 1860 | &nbsp;&nbsp; 1822316 |
| &nbsp;&nbsp;&nbsp; Regents of the University of California Medical Center <br> Pooled Revenue, RB, Series P, 5.00%, 05/15/47<br>| 2000 | &nbsp;&nbsp; 2057638 |
|  |  | &nbsp;&nbsp; 44980082 |
| **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; 662 |
| &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; 1291932 |
|  |  | &nbsp;&nbsp; 1292594 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

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

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

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **State — 0.6%** | **State — 0.6%** |  |
| &nbsp;&nbsp;&nbsp; California State Public Works Board, RB, Sustainability <br> Bonds, 5.00%, 11/01/46<br>| $2000 | &nbsp;&nbsp; $2069538 |
| **Tobacco — 5.9%** | **Tobacco — 5.9%** |  |
| &nbsp;&nbsp;&nbsp; California County Tobacco Securitization Agency, <br> Refunding RB, Series A, 4.00%, 06/01/49<br>| 1000 | &nbsp;&nbsp; 863133 |
| &nbsp;&nbsp;&nbsp; California County Tobacco Securitization Agency, <br> Refunding RB, CAB<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 06/01/55 | 2425 | &nbsp;&nbsp; 541155 |
| &nbsp;&nbsp;&nbsp; Series B-2, Subordinate, 0.00%, 06/01/55 | 1755 | &nbsp;&nbsp; 360334 |
| &nbsp;&nbsp;&nbsp; Golden State Tobacco Securitization Corp., Refunding <br> RB, Series B, 5.00%, 06/01/51<br>| 12675 | &nbsp;&nbsp; 12723114 |
| &nbsp;&nbsp;&nbsp; Golden State Tobacco Securitization Corp., Refunding <br> RB, CAB, Series B-2, Subordinate, 0.00%, <br> 06/01/66<sup>(c)</sup><br>| 4730 | &nbsp;&nbsp; 503847 |
| &nbsp;&nbsp;&nbsp; Tobacco Securitization Authority of Southern California, <br> Refunding RB, 5.00%, 06/01/48<br>| 6030 | &nbsp;&nbsp; 6052589 |
|  |  | &nbsp;&nbsp; 21044172 |
| **Transportation — 26.2%** | **Transportation — 26.2%** |  |
| &nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development Bank, <br> Refunding RB, Series A, Class B, AMT, Sustainability <br> Bonds, 9.50%, 01/01/65<sup>(a)(b)</sup><br>| 14335 | &nbsp;&nbsp; 13787308 |
| &nbsp;&nbsp;&nbsp; City of Long Beach California Harbor Revenue, ARB, <br> Series A, AMT, 5.00%, 05/15/40<br>| 5000 | &nbsp;&nbsp; 5049020 |
| &nbsp;&nbsp;&nbsp; City of Long Beach California Harbor Revenue, <br> Refunding ARB, Series C, 5.00%, 05/15/47<br>| 1480 | &nbsp;&nbsp; 1496001 |
| City of Los Angeles Department of Airports, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.25%, 05/15/48 | 1990 | &nbsp;&nbsp; 2006172 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 05/15/36 | 1090 | &nbsp;&nbsp; 1092425 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 05/15/41 | 6000 | &nbsp;&nbsp; 6004551 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 05/15/46 | 7860 | &nbsp;&nbsp; 7736491 |
| &nbsp;&nbsp;&nbsp; Series C, AMT, Subordinate, 5.00%, 05/15/44 | 4130 | &nbsp;&nbsp; 4034870 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 5.25%, 05/15/47 | 3900 | &nbsp;&nbsp; 3998220 |
| &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; 3722014 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 05/15/43 | 1250 | &nbsp;&nbsp; 1248760 |
| &nbsp;&nbsp;&nbsp; AMT, 5.50%, 05/15/47 | 4250 | &nbsp;&nbsp; 4423804 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 05/15/48 | 1500 | &nbsp;&nbsp; 1505909 |
| &nbsp;&nbsp;&nbsp; Series S, AMT, 5.00%, 05/15/40 | 4450 | &nbsp;&nbsp; 4595730 |
| &nbsp;&nbsp;&nbsp; AMT, Subordinate, 5.00%, 05/15/46 | 1365 | &nbsp;&nbsp; 1377951 |
| &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; 1011956 |
| &nbsp;&nbsp;&nbsp; Norman Y Mineta San Jose International Airport SJC, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 03/01/37 | 1280 | &nbsp;&nbsp; 1282682 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 03/01/41 | 2000 | &nbsp;&nbsp; 2003280 |
| &nbsp;&nbsp;&nbsp; San Diego County Regional Airport Authority, ARB, <br> Series B, AMT, 5.00%, 07/01/48<br>| 6890 | &nbsp;&nbsp; 6945968 |
| &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; 3043250 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 05/01/49 | 6405 | &nbsp;&nbsp; 6411773 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 05/01/41 | 3365 | &nbsp;&nbsp; 3365377 |
| &nbsp;&nbsp;&nbsp; Series D, AMT, 5.00%, 05/01/43 | 6130 | &nbsp;&nbsp; 6137099 |
| &nbsp;&nbsp;&nbsp; Series E, AMT, 5.00%, 05/01/45 | 1000 | &nbsp;&nbsp; 1006288 |
|  |  | &nbsp;&nbsp; 93286899 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Utilities — 18.4%** | **Utilities — 18.4%** |  |
| &nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development Bank, <br> RB, Sustainability Bonds, 4.00%, 10/01/45<br>| $5585 | &nbsp;&nbsp; $5371923 |
| Central Valley Energy Authority, RB, 5.00%, 12/01/55<sup>(a)</sup> | 10670 | &nbsp;&nbsp; 11464657 |
| &nbsp;&nbsp;&nbsp; Contra Costa Water District, Refunding RB, Series V, <br> 5.00%, 10/01/44<br>| 2310 | &nbsp;&nbsp; 2408261 |
| &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; 1686430 |
| &nbsp;&nbsp;&nbsp; Mountain House Public Financing Authority, RB, <br> Series A, Sustainability Bonds, (BAM), 4.00%, <br> 12/01/45<br>| 2720 | &nbsp;&nbsp; 2608384 |
| &nbsp;&nbsp;&nbsp; Orange County Water District, Refunding RB, Series A, <br> 4.00%, 08/15/41<br>| 1100 | &nbsp;&nbsp; 1082516 |
| &nbsp;&nbsp;&nbsp; Sacramento Municipal Utility District, Refunding RB, <br> Series H, Sustainability Bonds, 4.00%, 08/15/45<br>| 30015 | &nbsp;&nbsp; 28377287 |
| &nbsp;&nbsp;&nbsp; San Diego County Water Authority, RB, Series A, 5.00%, <br> 05/01/47<br>| 1500 | &nbsp;&nbsp; 1564497 |
| &nbsp;&nbsp;&nbsp; San Jose Financing Authority, Refunding RB, Series B, <br> Sustainability Bonds, 5.00%, 11/01/47<br>| 1225 | &nbsp;&nbsp; 1292914 |
| &nbsp;&nbsp;&nbsp; San Mateo Foster City Public Financing Authority, RB, <br> 4.00%, 08/01/44<br>| 10485 | &nbsp;&nbsp; 9838408 |
|  |  | &nbsp;&nbsp; 65695277 |
| **Total Municipal Bonds in California** | **Total Municipal Bonds in California** | &nbsp;&nbsp; 443232172 |
| **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, 3.93%, <br> 07/20/39<sup>(a)</sup><br>| 5319 | &nbsp;&nbsp; 5066739 |
| **Puerto Rico — 4.1%** | **Puerto Rico — 4.1%** |  |
| **State — 4.1%** | **State — 4.1%** |  |
| &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 | 2845 | &nbsp;&nbsp; 2621879 |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 5.00%, 07/01/58 | 8279 | &nbsp;&nbsp; 7867505 |
| &nbsp;&nbsp;&nbsp; Series A-2, Restructured, 4.78%, 07/01/58 | 2530 | &nbsp;&nbsp; 2311794 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue, RB, CAB, Series A-1, Restructured, 0.00%, <br> 07/01/46<sup>(c)</sup><br>| 5420 | &nbsp;&nbsp; 1737559 |
| **Total Municipal Bonds in Puerto Rico** | **Total Municipal Bonds in Puerto Rico** | &nbsp;&nbsp; 14538737 |
| **Total Municipal Bonds — 129.8%** <br>**(Cost: $466,470,926)** | **Total Municipal Bonds — 129.8%** <br>**(Cost: $466,470,926)** | &nbsp;&nbsp; 462837648 |
| **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(d)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(d)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(d)</sup> |
| **California — 32.5%** | **California — 32.5%** | **California — 32.5%** |
| **County/City/Special District/School District — 9.1%** | **County/City/Special District/School District — 9.1%** |  |
| &nbsp;&nbsp;&nbsp; Clovis Unified School District, GO, Election 2020, <br> Series B, 5.00%, 08/01/47<br>| 10000 | &nbsp;&nbsp; 10299960 |
| &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; 11465093 |
| &nbsp;&nbsp;&nbsp; Los Angeles Unified School District, GO, Sustainability <br> Bonds, Series QRR, 5.25%, 07/01/47<br>| 10000 | &nbsp;&nbsp; 10553648 |
|  |  | &nbsp;&nbsp; 32318701 |
| **Health — 4.5%** | **Health — 4.5%** |  |
| &nbsp;&nbsp;&nbsp; Regents of the University of California Medical Center <br> Pooled Revenue, RB, Series P, 5.00%, 05/15/47<br>| 15625 | &nbsp;&nbsp; 16075297 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 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; $9354943 |
| **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; 19924288 |
| &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>(e)</sup><br>| 16735 | &nbsp;&nbsp; 16658154 |
| &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>(e)</sup><br>| 9600 | &nbsp;&nbsp; 10138560 |
|  |  | &nbsp;&nbsp; 46721002 |
| **Utilities — 3.2%** | **Utilities — 3.2%** |  |
| &nbsp;&nbsp;&nbsp; San Francisco City & County Public Utilities Commission <br> Wastewater Revenue, RB, Sustainability Bonds, <br> Series A, 4.00%, 10/01/49<br>| 12790 | &nbsp;&nbsp; 11313740 |
| **Total Municipal Bonds in California** | **Total Municipal Bonds in California** | &nbsp;&nbsp; 115783683 |
| **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 32.5%** <br>**(Cost: $118,615,303)** | **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 32.5%** <br>**(Cost: $118,615,303)** | &nbsp;&nbsp; 115783683 |
| **Total Long-Term Investments — 162.3%** <br>**(Cost: $585,086,229)** | **Total Long-Term Investments — 162.3%** <br>**(Cost: $585,086,229)** | &nbsp;&nbsp; 578621331 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.9%** | **Money Market Funds — 0.9%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, MuniCash, Institutional <br> Shares, 3.05%<sup>(f)(g)</sup><br>| 3032276 | &nbsp;&nbsp; 3032579 |
| **Total Short-Term Securities — 0.9%** <br>**(Cost: $3,032,579)** | **Total Short-Term Securities — 0.9%** <br>**(Cost: $3,032,579)** | &nbsp;&nbsp; 3032579 |
| **Total Investments — 163.2%** <br>**(Cost: $588,118,808)** | **Total Investments — 163.2%** <br>**(Cost: $588,118,808)** | &nbsp;&nbsp; 581653910 |
| **Other Assets Less Liabilities — 1.8%** | **Other Assets Less Liabilities — 1.8%** | &nbsp;&nbsp; 6604729 |
| **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (17.0)%** | **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (17.0)%** | &nbsp;&nbsp; (60710101)<br>|
| **VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(48.0)%** | **VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(48.0)%** | &nbsp;&nbsp; (171090663)<br>|
| **Net Assets Applicable to Common Shares — 100.0%** | **Net Assets Applicable to Common Shares — 100.0%** | &nbsp;&nbsp; $356457875 |

---

&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> Zero-coupon bond.

<sup>(d)</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>(e)</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, 2031, is $13,883,657. 

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

<sup>(g)</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 April 30, 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>*07/31/24*<br>| *Purchases* <br>*at Cost*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*04/30/25*<br>| *Shares* <br>*Held at* <br>*04/30/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, MuniCash, Institutional Shares | $3869643 | $—<br> $(837064 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $3032579 | 3032276 | $113975 | $— |

---

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

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

------

Schedule of Investments (unaudited)(continued)

April 30, 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; $462837648 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $462837648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds Transferred to Tender Option Bond Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 115783683 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 115783683 |
| &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; 3032579 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3032579 |
|  | &nbsp;&nbsp; $3032579 | &nbsp;&nbsp;&nbsp;&nbsp; $578621331 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $581653910 |

---

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; $(60264992)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(60264992)<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; $(231564992)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(231564992)<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 | Build America Mutual Assurance Co. |
| 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 |
| 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:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $593678888.16

**Total Liabilities:** $237217123.00

**Net Assets:** $356461765.16

**Cash Not Reported:** $428018.02

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 84546.61000000 | **1-Year:** 16524.91000000 | **5-Year:** 131967.79000000 | **10-Year:** 80140.45000000 | **30-Year:** 131603.84000000

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

- **3-Month:** 10439.62000000 | **1-Year:** 23908.15000000 | **5-Year:** 889.89000000 | **10-Year:** 9469.26000000 | **30-Year:** 29084.02000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.40%                | -2.73%               | -2.42%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $68.04                   | $3997250.88                                |
| Month 2  | $-339706.93              | $-11124777.71                              |
| Month 3  | $-503916.59              | $-9738657.65                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| California Statewide Communities Development Authority                         | CALIFORNIA ST STWD CMNTYS DEV AUTH STWD REVENUE              | CUSIP: 13078YUD5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    565000 | PA      | $535905.12    | 0.15%             | 2052-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mountain House Public Financing Authority                                      | MOUNTAIN HOUSE CA PUBLIC FING AUTH UTILITY SYS REVENUE       | CUSIP: 62412PBN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2720000 | PA      | $2608384.36   | 0.73%             | 2045-12-01      | Fixed         | 4.00%                 | 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        |  10670000 | PA      | $11464656.57  | 3.22%             | 2055-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JFR2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |  10215000 | PA      | $10796656.91  | 3.03%             | 2055-02-01      | Floating      | 5.00%                 | 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      | $2306337.96   | 0.65%             | 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: 79766DRZ4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006288.22   | 0.28%             | 2045-05-01      | 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        |  15765000 | PA      | $15246701.82  | 4.28%             | 2044-11-01      | 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      | $3369911.55   | 0.95%             | 2045-05-01      | Fixed         | 4.00%                 | 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      | $386089.36    | 0.11%             | 2048-08-01      | Fixed         | 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      | $12437479.20  | 3.49%             | 2053-07-01      | Floating      | 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: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6004551.06   | 1.68%             | 2041-05-15      | Fixed         | 5.00%                 | 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      | $1686429.66   | 0.47%             | 2045-06-01      | Fixed         | 4.00%                 | 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        |  10695000 | PA      | $10708962.00  | 3.00%             | 2048-11-15      | Fixed         | 5.00%                 | 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      | $541155.14    | 0.15%             | 2055-06-01      | None          | 0.00%                 | 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        |  10005000 | PA      | $10768498.06  | 3.02%             | 2054-10-01      | Floating      | 5.50%                 | 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      | $5049019.60   | 1.42%             | 2040-05-15      | 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: 79766DRK7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |  16734994 | PA      | $16658153.52  | 4.67%             | 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: 544445GB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4130000 | PA      | $4034870.28   | 1.13%             | 2044-05-15      | Fixed         | 5.00%                 | 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      | $3135039.84   | 0.88%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency                                | CALIFORNIA CNTY CA TOBACCO SECURITIZATION AGY TOBACCO SETTLE | CUSIP: 13016NEZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $863132.48    | 0.24%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445E96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3490000 | PA      | $3722013.94   | 1.04%             | 2040-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| North Orange County Community College District/CA                              | N ORANGE CNTY CA CMNTY CLG DIST                              | CUSIP: 661334FT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2680000 | PA      | $2590377.29   | 0.73%             | 2044-08-01      | Fixed         | 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      | $6241088.23   | 1.75%             | 2053-12-01      | Floating      | 5.00%                 | 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        |   5319433 | PA      | $5066738.85   | 1.42%             | 2039-07-20      | Floating      | 3.93%                 | 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      | $4454636.37   | 1.25%             | 2047-08-01      | Fixed         | 4.00%                 | 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        |   2845000 | PA      | $2621879.40   | 0.74%             | 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        |   8279000 | PA      | $7867505.14   | 2.21%             | 2058-07-01      | Fixed         | 5.00%                 | 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      | $14945316.75  | 4.19%             | 2053-05-01      | Floating      | 4.00%                 | 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        |   1605000 | PA      | $1517467.79   | 0.43%             | 2050-08-01      | Fixed         | 4.13%                 | 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: 79766DWW5<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   2950000 | PA      | $3030177.46   | 0.85%             | 2044-05-01      | Fixed         | 5.25%                 | 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      | $3859635.64   | 1.08%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445CC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7860000 | PA      | $7736491.26   | 2.17%             | 2046-05-15      | 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: N/A                  | Long             | DBT              | MUN               | US        |  15624998 | PA      | $16075297.31  | 4.51%             | 2047-05-15      | 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      | $1011956.48   | 0.28%             | 2039-07-01      | 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        |  30015000 | PA      | $28377287.35  | 7.96%             | 2045-08-15      | 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: 79766DLF4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   6130000 | PA      | $6137098.97   | 1.72%             | 2043-05-01      | 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      | $11313740.15  | 3.17%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Water Authority                                               | SAN DIEGO CNTY CA WTR AUTH FING AGY WTR REVENUE              | CUSIP: 79741TBN3<br>LEI: 549300Y0QN5OFKA1G520 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1564497.42   | 0.44%             | 2047-05-01      | Fixed         | 5.00%                 | 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      | $5163801.55   | 1.45%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                            | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068XDG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2069537.50   | 0.58%             | 2046-11-01      | 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      | $4717106.32   | 1.32%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Garden Grove Unified School District                                           | GARDEN GROVE CA UNIF SCH DIST                                | CUSIP: 365298W20<br>LEI: 5493003B67I0BLYG4P22 | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1243146.60   | 0.35%             | 2045-08-01      | Fixed         | 4.00%                 | 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      | $4830719.75   | 1.36%             | 2041-07-01      | Fixed         | 4.00%                 | 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      | $1496000.52   | 0.42%             | 2047-05-15      | Fixed         | 5.00%                 | 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      | $4280711.06   | 1.20%             | 2041-08-01      | 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: 79766DGE3<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   3365000 | PA      | $3365376.61   | 0.94%             | 2041-05-01      | 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: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2530000 | PA      | $2311794.05   | 0.65%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445GX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1248760.04   | 0.35%             | 2043-05-15      | 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      | $10138560.05  | 2.84%             | 2048-05-01      | Fixed         | 5.75%                 | 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      | $1931050.68   | 0.54%             | 2058-06-01      | Fixed         | 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        |   4545000 | PA      | $4747396.26   | 1.33%             | 2054-02-01      | Floating      | 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      | $10553648.40  | 2.96%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                         | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SGV0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1860000 | PA      | $1822315.67   | 0.51%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mount San Antonio Community College District                                   | MOUNT SAN ANTONIO CA CMNTY CLG DIST                          | CUSIP: 623040PZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3294385.96   | 0.92%             | 2049-08-01      | Fixed         | 4.00%                 | 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      | $6198482.71   | 1.74%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |  11000000 | PA      | $11313043.28  | 3.17%             | 2055-01-01      | Floating      | 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      | $4857906.80   | 1.36%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445ET2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2006171.79   | 0.56%             | 2048-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445S67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1377950.79   | 0.39%             | 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: 544445F46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4423804.43   | 1.24%             | 2047-05-15      | Fixed         | 5.50%                 | 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      | $6293266.31   | 1.77%             | 2045-08-01      | Fixed         | 4.00%                 | 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        |   7000000 | PA      | $6570897.55   | 1.84%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445CA5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1092425.46   | 0.31%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST                                                | CUSIP: 13063ELM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8750000 | PA      | $9354942.41   | 2.62%             | 2049-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                       | UNIV OF CALIFORNIA CA REVENUES                               | CUSIP: 91412HVY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3790000 | PA      | $3954449.73   | 1.11%             | 2053-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                          | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034A2N9<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   5585000 | PA      | $5371923.15   | 1.51%             | 2045-10-01      | Fixed         | 4.00%                 | 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      | $9838407.66   | 2.76%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Norman Y Mineta San Jose International Airport SJC                             | SAN JOSE CA ARPT REVENUE                                     | CUSIP: 798136VS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003280.18   | 0.56%             | 2041-03-01      | Fixed         | 5.00%                 | 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      | $10299960.35  | 2.89%             | 2047-08-01      | Fixed         | 5.00%                 | 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      | $2013065.08   | 0.56%             | 2043-07-15      | 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      | $1927419.90   | 0.54%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                       | UNIV OF CALIFORNIA REVENUES                                  | CUSIP: 91412GY25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8440000 | PA      | $8511854.53   | 2.39%             | 2047-05-15      | Fixed         | 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      | $7462643.29   | 2.09%             | 2048-08-01      | Fixed         | 5.25%                 | 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      | $308225.73    | 0.09%             | 2059-09-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 5444453B3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  19365000 | PA      | $19924287.86  | 5.59%             | 2050-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Mount San Antonio Community College District                                   | MOUNT SAN ANTONIO CA CMNTY CLG DIST                          | CUSIP: 623040KE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $7605163.60   | 2.13%             | 2049-08-01      | Fixed         | 4.00%                 | 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        |   1225000 | PA      | $1292914.54   | 0.36%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                          | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE               | CUSIP: 126292BN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1840000 | PA      | $1291931.93   | 0.36%             | 2057-05-01      | Fixed         | 4.00%                 | 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      | $3885495.00   | 1.09%             | 2040-08-01      | 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        |   2604294 | NS      | $2604554.17   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| California Municipal Finance Authority                                         | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048VJE9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    325000 | PA      | $271409.81    | 0.08%             | 2039-08-01      | Fixed         | 5.00%                 | 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        |   4730000 | PA      | $503846.79    | 0.14%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445C80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3900000 | PA      | $3998220.06   | 1.12%             | 2047-05-15      | Fixed         | 5.25%                 | 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      | $2366202.73   | 0.66%             | 2049-08-01      | Fixed         | 4.13%                 | 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        |   5420000 | PA      | $1737558.61   | 0.49%             | 2046-07-01      | None          | 0.00%                 | 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      | $126737.95    | 0.04%             | 2047-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Gilroy Unified School District                                                 | GILROY CA UNIF SCH DIST                                      | CUSIP: 376087EQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997359.54    | 0.28%             | 2036-08-01      | Fixed         | 4.00%                 | 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      | $6504714.61   | 1.82%             | 2040-04-01      | Fixed         | 4.00%                 | 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      | $1282682.04   | 0.36%             | 2037-03-01      | 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: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2057638.24   | 0.58%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                              | CALIFORNIA HSG FIN AGY MUNI CTFS                             | CUSIP: 13033DAA3<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |       664 | PA      | $662.39       | 0.00%             | 2035-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Foothill-De Anza Community College District                                    | FOOTHILL-DE ANZA CA CMNTY CLGDIST                            | CUSIP: 345102MW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5970000 | PA      | $5948526.63   | 1.67%             | 2040-08-01      | Fixed         | 4.00%                 | 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        |   6030000 | PA      | $6052589.04   | 1.70%             | 2048-06-01      | 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      | $3821416.39   | 1.07%             | 2044-07-01      | Fixed         | 4.00%                 | 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      | $3537904.75   | 0.99%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                               | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UA81<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1318113.22   | 0.37%             | 2040-08-15      | 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: 79766DMB2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   6405000 | PA      | $6411772.84   | 1.80%             | 2049-05-01      | Fixed         | 5.00%                 | 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      | $2861018.08   | 0.80%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arcadia Unified School District/CA                                             | ARCADIA CA UNIF SCH DIST                                     | CUSIP: 039069HG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4914746.50   | 1.38%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Peralta Community College District                                             | PERALTA CA CMNTY CLG DIST                                    | CUSIP: 713575UX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000366.45   | 0.84%             | 2032-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Lorenzo Unified School District                                            | SAN LORENZO CA UNIF SCH DIST ALAMEDA CNTY                    | CUSIP: 798492SU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $328921.14    | 0.09%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445GY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1505908.94   | 0.42%             | 2048-05-15      | 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      | $11465092.52  | 3.22%             | 2044-07-01      | 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      | $6945967.61   | 1.95%             | 2048-07-01      | Fixed         | 5.00%                 | 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      | $526045.00    | 0.15%             | 2062-11-15      | Fixed         | 8.00%                 | 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      | $2408260.65   | 0.68%             | 2044-10-01      | Fixed         | 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      | $360334.46    | 0.10%             | 2055-06-01      | None          | 0.00%                 | 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      | $13787307.96  | 3.87%             | 2065-01-01      | Floating      | 9.50%                 | 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        |   8790000 | PA      | $8611221.77   | 2.42%             | 2041-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445SV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4450000 | PA      | $4595730.42   | 1.29%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Orange County Water District                                                   | ORANGE CNTY CA WTR DIST REVENUE                              | CUSIP: 68442CBH8<br>LEI: 549300KBQTX6CMJ3U708 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1082515.67   | 0.30%             | 2041-08-15      | Fixed         | 4.00%                 | 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        |   2725000 | PA      | $2464066.56   | 0.69%             | 2059-06-01      | Fixed         | 6.38%                 | 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      | $133630.09    | 0.04%             | 2043-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Bernardino City Unified School District                                    | SAN BERNARDINO CITY CA UNIF SCH DIST                         | CUSIP: 796711C31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1145053.43   | 0.32%             | 2042-08-01      | Fixed         | 4.00%                 | 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      | $3535371.73   | 0.99%             | 2045-09-01      | Fixed         | 4.00%                 | 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      | $2481676.95   | 0.70%             | 2049-07-01      | Fixed         | 5.00%                 | 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        |  12675000 | PA      | $12723114.43  | 3.57%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

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

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer