PIMCO CALIFORNIA MUNICIPAL INCOME FUND

Regulatory Filings • Sep 17, 2010

N-Q 1 y86563nvq.htm FORM N-Q nvq PAGEBREAK

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act File Number:	811-10379
Registrant Name:	PIMCO California Municipal Income Fund
Address of Principal Executive Offices:	1345 Avenue of the Americas,
	New York, NY 10105
Name and Address of Agent for Service:	Lawrence G. Altadonna
	1345 Avenue of the Americas,
	New York, NY 10105
Registrant’s telephone number, including	212-739-3371
area code:
Date of Fiscal Year End:	April 30, 2011
Date of Reporting Period:	July 31, 2010

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-2001. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

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TOC /TOC link2 "Item 1. Schedule of Investments"

Item 1. Schedule of Investments

PIMCO California Municipal Income Fund Schedule of Investments

July 31, 2010 (unaudited)

Principal — Amount		Credit Rating
(000s)		(Moody’s/S&P)	Value*
CALIFORNIA MUNICIPAL BONDS & NOTES—90.3%
$ 1,000	Assoc. of Bay Area Gov’t Finance Auth. for Nonprofit Corps.,
Channing House, CP, 5.375%, 2/15/19	NR/BB	$ 1,010,710
1,000	Assoc. of Bay Area Gov’t Finance Auth. for Nonprofit Corps. Rev.,
Poway Housing, Inc. Project, 5.375%, 11/15/25, Ser. A (CA Mtg. Ins.)	NR/A-	1,002,950
10,000	Bay Area Toll Auth. Rev., San Francisco Bay Area,
5.00%, 4/1/34, Ser. F-1	Aa3/AA	10,366,200
5,000	Chula Vista Rev., San Diego Gas & Electric, 5.875%, 2/15/34, Ser. B	Aa3/A+	5,623,700
650	City & Cnty. of San Francisco, Capital Improvement Projects, CP,
5.25%, 4/1/31, Ser. A	Aa3/AA-	668,161
720	City & Cnty. of San Francisco Redev. Agcy. Rev., Special Tax,
6.125%, 8/1/31, Ser. B	NR/NR	690,891
	Contra Costa
Cnty. Public Financing Auth., Tax Allocation,
350	5.85%, 8/1/33, Ser. A	NR/BBB	345,642
2,150	Pleasant Hill, 5.125%, 8/1/19	NR/BBB	2,152,559
3,635	Cucamonga Valley Water Dist., CP, 5.125%, 9/1/35 (FGIC-NPFGC)	Aa3/AA-	3,665,062
5,000	Desert Community College Dist., GO, 5.00%, 8/1/37, Ser. C (AGM)	Aa2/AAA	5,127,400
310	Dublin Unified School Dist., GO, zero coupon, 8/1/23, Ser. E	Aa2/AA-	156,519
6,300	Eastern Municipal Water Dist., CP, 5.00%, 7/1/35, Ser. H	Aa2/AA	6,528,627
	Educational Facs. Auth. Rev.,
	Claremont McKenna College,
1,400	5.00%, 1/1/39	Aa2/NR	1,454,460
10,200	5.00%, 1/1/39 (f)	Aa2/NR	10,596,780
	Univ. of Southern California, Ser. A,
5,000	5.00%, 10/1/38	Aa1/AA+	5,298,400
10,000	5.00%, 10/1/39 (f)	Aa1/AA+	10,589,700
2,975	El Dorado
Irrigation Dist. & El Dorado Water Agcy., CP, 5.75%, 8/1/39, Ser. A (AGC)	Aa3/AAA	3,138,357
	El Monte, Department of Public Social Services Fac., CP (AMBAC),
10,790	4.75%, 6/1/30	A2/A+	10,693,537
14,425	Phase II, 5.25%, 1/1/34	A2/NR	14,465,390
1,000	Folsom Redev. Agcy., Tax Allocation, 5.50%, 8/1/36	NR/A	966,480
	Fremont Community Facs. Dist. No. 1, Special Tax,
165	6.00%, 9/1/18	NR/NR	163,248
505	6.00%, 9/1/19	NR/NR	494,961
3,500	6.30%, 9/1/31	NR/NR	3,412,220
	Golden State Tobacco Securitization Corp. Rev.,
9,000	5.00%, 6/1/33, Ser. A-1	Baa3/BBB	6,886,980
3,000	5.00%, 6/1/35, Ser. A (FGIC)	A2/BBB+	2,798,730
6,000	5.00%, 6/1/38, Ser. A (FGIC)	A2/BBB+	5,538,960
1,600	5.00%, 6/1/45 (AMBAC-TCRS)	A2/A-	1,464,880
500	Hartnell Community College Dist., GO,
zero coupon, 8/1/34, Ser. 2002-D (g)	Aa2/AA-	242,760
	Health Facs. Financing Auth. Rev.,
	Adventist Health System, Ser. A,
4,630	5.00%, 3/1/33	NR/A	4,442,300
2,000	5.75%, 9/1/39	NR/A	2,064,080
	Catholic Healthcare West, Ser. A,
1,765	5.00%, 7/1/18	A2/A	1,766,341
570	5.00%, 7/1/28	A2/A	569,983
2,000	6.00%, 7/1/34	A2/A	2,070,820
4,000	6.00%, 7/1/39	A2/A	4,260,840
750	Children’s Hospital of Los Angeles, 5.25%, 7/1/38 (AGM)	Aa3/AAA	751,110
1,000	Children’s Hospital of Orange Cnty., 6.50%, 11/1/38, Ser. A	NR/A	1,084,410

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PIMCO California Municipal Income Fund Schedule of Investments

July 31, 2010 (unaudited)

Principal — Amount		Credit Rating
(000s)		(Moody’s/S&P)	Value*
$ 5,315	Northern California Presbyterian, 5.125%, 7/1/18	NR/BBB	$ 5,315,585
1,450	Scripps Health, 5.00%, 11/15/36, Ser. A	A1/AA-	1,449,884
10,590	Kern Cnty.,
Capital Improvements Projects, CP, 5.75%, 8/1/35, Ser. A (AGC)	Aa3/AAA	11,171,497
	La Quinta Redev. Agcy., Tax Allocation (AMBAC),
10,000	5.10%, 9/1/31	WR/A+	9,540,100
1,000	5.125%, 9/1/32	WR/A+	956,050
500	Lancaster
Redev. Agcy. Rev., Capital Improvements Projects, 5.90%, 12/1/35	NR/A	499,885
500	Lancaster Redev. Agcy., Tax Allocation, 6.875%, 8/1/39	NR/A	558,780
1,495	Lincoln Public Financing Auth. Rev., Twelve Bridges, 6.125%, 9/2/27	NR/NR	1,421,341
	Long Beach Bond Finance Auth. Rev., Long Beach Natural Gas, Ser. A,
1,000	5.50%, 11/15/27	A2/A	1,021,230
3,900	5.50%, 11/15/37	A2/A	3,840,057
	Los Angeles Department of Water & Power Rev.,
5,000	4.75%, 7/1/30, Ser. A-2 (AGM) (f)	Aa3/AAA	5,082,950
3,930	5.125%, 7/1/41, Ser. A	Aa2/AA	3,954,602
7,000	5.375%, 1/1/29, Ser. A (f)	Aa2/AA	7,434,630
3,000	5.375%, 7/1/34, Ser. A (f)	Aa2/AA	3,197,100
	Los Angeles Unified School Dist., GO,
10,000	5.00%, 7/1/29, Ser. I (f)	Aa2/AA-	10,407,900
5,000	5.00%, 1/1/34, Ser. I (f)	Aa2/AA-	5,097,000
13,000	5.00%, 1/1/34, Ser. I	Aa2/AA-	13,252,200
250	5.30%, 1/1/34, Ser. D	Aa2/AA-	260,250
200	M-S-R Energy Auth. Rev., 6.50%, 11/1/39, Ser. B	NR/A	216,896
700	Malibu, City Hall Project, CP, 5.00%, 7/1/39, Ser. A	NR/AA+	718,186
2,900	Municipal Finance Auth. Rev., Biola Univ., 5.875%, 10/1/34	Baa1/NR	3,045,290
5,000	Orange Cnty. Sanitation Dist., CP, 5.00%, 2/1/39, Ser. A	NR/AAA	5,178,400
2,145	Patterson Public Financing Auth. Rev.,
Waste Water Systems Project, 5.50%, 6/1/39 (AGC)	NR/AAA	2,229,921
1,250	Peralta Community College Dist., GO, 5.00%, 8/1/39, Ser. C	NR/AA-	1,273,563
2,000	Pollution Control Financing Auth. Rev.,
San Jose Water Co. Projects, 5.10%, 6/1/40	NR/A	2,013,680
	Riverside, Special Assessment, Riverwalk Assessment Dist.,
500	6.15%, 9/2/19	NR/NR	509,215
1,350	6.375%, 9/2/26	NR/NR	1,361,758
8,305	Riverside Cnty., CP, 5.125%, 11/1/30 (NPFGC)	A1/AA-	8,367,204
545	San Diego Cnty., CP, 5.25%, 10/1/28	A2/NR	550,695
	San Diego Cnty. Water Auth., CP,
1,000	5.00%, 5/1/32, Ser. A (NPFGC)	Aa2/AA+	1,017,860
6,250	5.00%, 5/1/38, Ser. 2008-A (AGM)	Aa2/AAA	6,378,188
2,000	San Diego Public Facs. Financing Auth. Rev., 5.25%, 5/15/39, Ser. A	Aa3/A+	2,101,740
3,285	San Diego Regional Building Auth. Rev., Cnty. Operations Center &
Annex, 5.375%, 2/1/36, Ser. A	A1/AA+	3,483,611
4,400	San Diego Unified School Dist., GO, 4.75%, 7/1/27, Ser. D-2 (AGM)	Aa1/AAA	4,559,896
880	San
Francisco Bay Area Rapid Transit Dist. Rev., 5.125%, 7/1/36 (AMBAC)	Aa2/AA+	887,462
5,065	San Joaquin
Cnty., General Hospital Project, CP, 5.00%, 9/1/20 (NPFGC)	A1/A	5,069,508
	San Joaquin Hills Transportation Corridor Agcy. Rev., Ser. A,
5,000	5.50%, 1/15/28	Ba2/BB-	4,555,400
5,000	5.70%, 1/15/19	Ba2/BB-	5,020,700
230	San Jose, Special Assessment, 5.60%, 9/2/17, Ser. 24-Q	NR/NR	234,832
600	Santa Ana Financing Auth. Rev., 5.60%, 9/1/19, Ser. C	NR/A	600,816
3,500	Santa Clara Cnty. Financing Auth. Rev., 5.75%, 2/1/41, Ser. A (AMBAC)	A1/A+	3,712,555

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PIMCO California Municipal Income Fund Schedule of Investments

July 31, 2010 (unaudited)

Principal — Amount		Credit Rating
(000s)		(Moody’s/S&P)	Value*
$ 1,815	Santa Clara, Central Park Library Project, CP, 5.00%, 2/1/32 (AMBAC)	Aa2/AA	$ 1,846,853
1,300	Santa Cruz Cnty. Redev. Agcy., Tax Allocation,
Live Oak/Soquel Community, 7.00%, 9/1/36, Ser. A	A1/A	1,453,543
	State, GO,
5,885	5.00%, 9/1/35	A1/A-	5,777,481
3,000	5.00%, 12/1/37	A1/A-	2,934,180
8,000	6.00%, 4/1/38	A1/A-	8,637,680
	State Public Works Board Rev.,
2,000	5.75%, 10/1/30, Ser. G-1	A2/BBB+	2,039,760
2,000	California State Univ., 6.00%, 11/1/34, Ser. J	Aa3/BBB+	2,113,040
2,000	Regents Univ., 5.00%, 4/1/34, Ser. E	Aa2/AA-	2,018,060
	Statewide Communities Dev. Auth. Rev.,
1,000	American Baptist Homes West, 6.25%, 10/1/39	NR/BBB-	1,009,610
900	California Baptist Univ., 5.50%, 11/1/38, Ser. A	NR/NR	730,917
1,000	Catholic Healthcare West, 5.50%, 7/1/31, Ser. D	A2/A	1,031,800
13,050	Henry Mayo Newhall Memorial Hospital, 5.125%, 10/1/30, Ser. A (CA
Mtg. Ins.)	NR/A-	12,976,137
1,000	Kaiser Permanente, 5.25%, 3/1/45, Ser. B	NR/A+	984,280
1,000	Lancer Student Housing Project, 7.50%, 6/1/42	NR/NR	1,045,740
3,000	Los Angeles Jewish Home, 5.50%, 11/15/33 (CA St. Mtg.)	NR/A-	2,922,900
	Methodist Hospital Project (FHA),
2,100	6.625%, 8/1/29	Aa2/AA	2,423,652
7,700	6.75%, 2/1/38	Aa2/AA	8,834,518
	St. Joseph,
100	5.125%, 7/1/24 (NPFGC)	A1/AA-	104,049
3,200	5.75%, 7/1/47, Ser. A (FGIC)	A1/AA-	3,271,136
4,000	Sutter Health, 5.50%, 8/15/34, Ser. B	Aa3/A+	4,040,400
8,000	The Internext Group, CP, 5.375%, 4/1/30	NR/BBB	7,612,640
910	Windrush School, 5.50%, 7/1/37	NR/NR	735,316
2,000	Turlock, Emanuel Medical Center, CP, 5.50%, 10/15/37, Ser. B	NR/BBB	1,785,700
	Tustin Unified School Dist., Special Tax, Ser. B,
2,345	5.50%, 9/1/22	NR/NR	2,354,755
2,520	5.60%, 9/1/29	NR/NR	2,448,029
2,000	5.625%, 9/1/32	NR/NR	1,885,480
	Univ. of California Rev.,
8,000	4.75%, 5/15/35, Ser. F (AGM)(f)	Aa1/AAA	8,054,480
10,000	5.00%, 5/15/36, Ser. A (AMBAC)	Aa1/AA	10,191,500
1,000	Western
Municipal Water Dist. Facs. Auth. Rev., 5.00%, 10/1/39, Ser. B	NR/AA+	1,041,710
1,000	Westlake Village, CP, 5.00%, 6/1/39	NR/AA+	1,033,590
1,000	Whittier Union High School Dist., GO, zero coupon, 8/1/25	NR/AA-	427,850
	Total California Municipal Bonds & Notes (cost—$365,482,397)		383,869,351
OTHER MUNICIPAL BONDS & NOTES—5.5%
	Illinois—0.4%
1,460	Finance Auth. Rev., Univ. of Chicago, 5.00%, 7/1/33, Ser. A	Aa1/AA	1,498,442
	Iowa—1.7%
8,700	Tobacco Settlement Auth. Rev., 5.60%, 6/1/34, Ser. B	Baa3/BBB	7,367,682
	Louisiana—0.4%
1,750	Tobacco Settlement Financing Corp. Rev., 5.875%, 5/15/39, Ser. 2001-B	Baa3/BBB	1,717,660
	New York—0.1%
450	New York City Municipal Water Finance Auth. Water & Sewer Rev.,
8.525%, 6/15/31, Ser. D (f)	NR/AAA	468,882

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PIMCO California Municipal Income Fund Schedule of Investments

July 31, 2010 (unaudited)

Principal — Amount		Credit Rating
(000s)		(Moody’s/S&P)	Value*
	Puerto Rico—2.8%
$ 1,000	Electric Power Auth. Rev., 5.25%, 7/1/40, Ser. XX	A3/BBB+	$ 1,008,410
	Sales Tax Financing Corp. Rev.,
8,000	5.25%, 8/1/41, Ser. C	A1/A+	8,030,800
3,000	5.50%, 8/1/42, Ser. A	A1/A+	3,057,720
			12,096,930
	South Carolina—0.1%
340	Tobacco Settlement Rev. Management Auth. Rev.,
6.375%, 5/15/30, Ser. B	Baa3/BBB	435,135
	Total Other Municipal Bonds & Notes (cost—$24,228,429)		23,584,731
OTHER VARIABLE RATE NOTES (a)(b)(c)(d) —1.7%
	Illinois—1.7%
6,670	Chicago Water Rev., 11.258%, 5/1/14, Ser. 1419 (AMBAC) (cost—$6,910,129)	NR/AA-	7,139,968
CALIFORNIA VARIABLE RATE NOTES (a)(b)(c)(d) —0.7%
1,000	Health Facs. Financing Auth. Rev., 7.88%, 11/15/36, Ser. 3193	NR/NR	1,001,070
1,670	Sacramento Cnty. Sanitation Dists. Financing Auth. Rev.,
11.289%, 8/1/13, Ser. 1034 (NPFGC)	NR/AA	1,877,331
	Total California Variable Rate Notes (cost—$2,785,435)		2,878,401
SHORT-TERM INVESTMENT (e) —1.8%
Corporate Notes—1.8%
	Financial Services—1.8%
7,800	American General Finance Corp., 4.625%, 9/1/10 (cost—$7,611,932)	B2/B	7,780,500
	Total Investments (cost—$407,018,322)— 100.0%		$ 425,252,951

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Notes to Schedule of Investments:

| * | Portfolio securities and other financial instruments for which market quotations are readily
available are stated at market value. Market value is generally determined on the basis of last
reported sales prices, or if no sales are reported, on the basis of quotes obtained from a
quotation reporting system, established market makers, or independent pricing services. |
| --- | --- |
| | Portfolio securities and other financial instruments for which market quotations are not readily
available, or for which a
development/event occurs that may significantly impact the value of a security, are fair-valued,
in good faith, pursuant to
procedures established by the Board of Trustees, or persons acting at their discretion pursuant to
procedures established by the Board of Trustees. The Fund’s investments are valued daily using
prices supplied by an independent pricing service or dealer quotations, or by using the last sale
price on the exchange that is the primary market for such securities, or the mean between the last
quoted bid and ask price for those securities for which the over-the-counter market is the primary
market or for listed securities in which there were no sales. Independent pricing services use
information provided by market makers or estimates of market values obtained from yield data
relating to investments or securities with similar characteristics. Short-term securities maturing
in 60 days or less are valued at amortized cost, if their original term to maturity was 60 days or
less, or by amortizing their value on the 61st day prior to maturity, if the original term to
maturity exceeded 60 days. |
| | The prices used by the Fund to value securities may differ from the value that would be realized
if the securities were sold and these differences could be material. The Fund’s net asset value is
normally determined as of the close of regular trading (normally, 4:00 p.m. Eastern time) on the
New York Stock Exchange (“NYSE”) on each day the NYSE is open for business. |
| (a) | Private Placement—Restricted as to resale and may not have a readily available market.
Securities with an aggregate value of $10,018,369, representing 2.4% of total investments. |
| (b) | 144A—Exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, typically only to qualified institutional
buyers. Unless otherwise indicated, these securities are not considered to be illiquid. |
| (c) | Inverse Floater—The interest rate shown bears an inverse
relationship to the interest rate of
another security or the value of an index. The interest rate disclosed reflects the rate in effect
on July 31, 2010. |
| (d) | Variable Rate Notes—Instruments whose interest rates change on specified date (such as a
coupon date or interest payment date) and/or whose interest rates vary with changes in a
designated base rate (such as the prime interest rate). The interest rate disclosed reflects the
rate in effect on July 31, 2010. |
| (e) | All or partial amount segregated for the benefit of the
counterparty as collateral for reverse repurchase agreement. |
| (f) | Residual Interest Bonds held in Trust—Securities represent underlying bonds transferred to a
separate securitization trust established in a tender option bond transaction in which the Fund
acquired the residual interest certificates. These securities serve as collateral in a financing
transaction. |
| (g) | Step Bond—Coupon is a fixed rate for an initial period then resets at a specific date and
rate. |

Glossary:

AGC—insured by Assured Guaranty Corp. AGM—insured by Assured Guaranty Municipal Corp. AMBAC—insured by American Municipal Bond Assurance Corp. CA Mtg. Ins.—insured by California Mortgage Insurance CA St. Mtg.—insured by California State Mortgage CP—Certificates of Participation FGIC—insured by Financial Guaranty Insurance Co. FHA—insured by Federal Housing Administration GO—General Obligation Bond NPFGC—insured by National Public Finance Guarantee Corp. NR—Not Rated TCRS—Temporary Custodian Receipts WR—Withdrawn Rating

Other Investments:

(A) Open reverse repurchase agreements at July 31, 2010:

Counterparty — Bank of America	0.70 %	7/9/10	8/10/10	Principal & Interest — $ 7,119,708	Principal — $ 7,116,525

The weighted average daily balance of reverse repurchase agreements outstanding during the three months ended July 31, 2010 was $7,165,311 at a weighted average interest rate of 0.68%. The total market value of underlying collateral (refer to the Schedule of Investments for positions segregated for the benefit of the counterparty as collateral for reverse repurchase agreements) for open reverse repurchase agreements at July 31, 2010 was $7,780,500.

At July 31, 2010 the Fund held $170,973 in Mortgage Backed securities as collateral for open reverse repurchase agreements. Collateral in the form of securities cannot be pledged.

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Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants. The three levels of the fair value hierarchy are described below:

| • | Level 1 — quoted prices in active markets for identical investments that the Fund
has the ability to access |
| --- | --- |
| • | Level 2 — valuations based on other significant observable inputs (including quoted
prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) or quotes
from inactive exchanges |
| • | Level 3 — valuations based on significant unobservable inputs (including the Fund’s
own assumptions in determining the fair value of investments) |

An investment asset’s or liability’s level within the fair value hierarchy is based on the lowest level input, individually or in the aggregate, that is significant to fair value measurement. The objective of fair value measurement remains the same even when there is a significant decrease in the volume and level of activity for an asset or liability and regardless of the valuation technique used.

The valuation techniques used by the Fund to measure fair value during the three months ended July 31, 2010 maximized the use of observable inputs and minimized the use of unobservable inputs.

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

The Fund’s policy is to recognize transfers between levels at the end of the reporting period.

A summary of the inputs used at July 31, 2010 in valuing the Fund’s assets and liabilities is listed below:

		Level 2 - — Other Significant	Level 3 - — Significant
Level 1 -		Observable	Unobservable	Value at
Quoted Prices		Inputs	Inputs	7/31/10
Investments in Securities — Assets
California Municipal Bonds & Notes	—	$ 383,869,351	—	$ 383,869,351
Other Municipal Bonds & Notes	—	23,584,731	—	23,584,731
Other Variable Rate Notes	—	7,139,968	—	7,139,968
California Variable Rate Notes	—	2,878,401	—	2,878,401
Short-Term Investment	—	7,780,500	—	7,780,500
Total Investments	—	$ 425,252,951	—	$ 425,252,951

There were no transfers into and out of Levels 1 and 2 during the three months ended July 31, 2010.

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link2 "Item 2. Controls and Procedures"

Item 2. Controls and Procedures

(a) The registrant’s President & Chief Executive Officer and Treasurer, Principal Financial & Accounting Officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a -3(c))), are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no significant changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a -3(d))) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

link2 "Item 3. Exhibits"

Item 3. Exhibits

(a) Exhibit 99.302 Cert. — Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

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link1 "SIGNATURES"

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: PIMCO California Municipal Income Fund

By /s/ Brian S. Shlissel President & Chief Executive Officer Date: September 17, 2010

By /s/ Lawrence G. Altadonna Treasurer, Principal Financial & Accounting Officer Date: September 17, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By /s/ Brian S. Shlissel President & Chief Executive Officer Date: September 17, 2010

By /s/ Lawrence G. Altadonna Treasurer, Principal Financial & Accounting Officer Date: September 17, 2010

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