CITIGROUP INC — Director's Dealing 2011

May 6, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NUVEEN CALIFORNIA DIVIDEND ADVANTAGE MUNICIPAL FUND 3 (NZH)
CIK: 0001137888
Period of Report: 2011-05-04

Reporting Person: CITIGROUP INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-04	Auction Rate Preferred	J	58	$25001.41	Disposed	277	Indirect
2011-05-06	Auction Rate Preferred	J	69	$25000.84	Disposed	208	Indirect

Footnotes

F1: These Auction Preferred Shares ("Shares") were called for redemption by the issuer.

F2: The Shares reported in Table I represent Shares beneficially owned by Citigroup Global Markets Inc. ("CGMI"). Citigroup Financial Products Inc. ("CFP") is the sole stockholder of CGMI. Citigroup Global Markets Holdings Inc. ("CGMH") is the sole stockholder of CFP. Citigroup Inc. is the sole stockholder of CGMH.