Unassociated Document



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-5235
 
Nuveen California Municipal Value Fund, Inc.
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            2/28          
 
Date of reporting period:         5/31/13         
 
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, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
 
 
 
Item 1. Schedule of Investments
 
 

 
           
   
 Portfolio of Investments (Unaudited) 
      
           
   
 Nuveen California Municipal Value Fund, Inc. (NCA) 
      
   
                May 31, 2013 
      
 
 
Principal 
    
Optional Call 
    
Amount (000) 
  
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
   
Consumer Staples – 4.7% (4.6% of Total Investments) 
      
$       255 
  
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma 
6/15 at 100.00 
BB+ 
$      249,500 
   
County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21 
      
   
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed 
      
   
Bonds, Series 2007A-1: 
      
5,940 
  
5.750%, 6/01/47 
6/17 at 100.00 
B 
5,594,886 
3,500 
  
5.125%, 6/01/47 
6/17 at 100.00 
B 
3,076,220 
3,570 
  
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed 
6/22 at 100.00 
B 
3,349,053 
   
Bonds, Series 2007A-2, 5.300%, 6/01/37 
      
13,265 
  
Total Consumer Staples 
    
12,269,659 
   
Education and Civic Organizations – 1.1% (1.1% of Total Investments) 
      
140 
  
California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series 2005A, 
10/15 at 100.00 
A3 
144,073 
   
5.000%, 10/01/35 
      
   
California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006: 
      
95 
  
5.000%, 11/01/21 
11/15 at 100.00 
A2 
102,351 
125 
  
5.000%, 11/01/25 
11/15 at 100.00 
A2 
134,211 
700 
  
California Statewide Communities Development Authority, School Facility Revenue Bonds, 
7/21 at 100.00 
BBB– 
783,720 
   
Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46 
      
6,000 
  
Oceanside Unified School District, San Diego County, California, General Obligation Bonds, 
No Opt. Call 
A+ 
602,460 
   
Election 2008 Series 2010B, 0.000%, 8/01/49 – AGM Insured 
      
1,000 
  
University of California, General Revenue Bonds, Limited Project Series 2012G, 5.000%, 5/15/30 
No Opt. Call 
Aa2 
1,148,840 
8,060 
  
Total Education and Civic Organizations 
    
2,915,655 
   
Health Care – 16.3% (16.1% of Total Investments) 
      
   
California Health Facilities Financing Authority, Revenue Bonds, Rady Children’s Hospital – 
      
   
San Diego, Series 2011: 
      
560 
  
5.000%, 8/15/31 
8/21 at 100.00 
A+ 
608,401 
670 
  
5.250%, 8/15/41 
8/21 at 100.00 
A+ 
729,275 
5,365 
  
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A, 
11/16 at 100.00 
AA– 
5,659,592 
   
5.250%, 11/15/46 (UB) 
      
1,000 
  
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2011B, 
8/20 at 100.00 
AA– 
1,192,690 
   
6.000%, 8/15/42 
      
3,870 
  
California Municipal Financing Authority, Certificates of Participation, Community Hospitals 
2/17 at 100.00 
BBB 
4,066,016 
   
of Central California, Series 2007, 5.250%, 2/01/27 
      
560 
  
California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System 
3/15 at 100.00 
A 
589,848 
   
West, Series 2005A, 5.000%, 3/01/35 
      
1,000 
  
California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health 
7/17 at 100.00 
N/R 
985,150 
   
System, Series 2007A, 5.125%, 7/15/31 
      
3,000 
  
California Statewide Community Development Authority, Insured Health Facility Revenue Bonds, 
7/17 at 100.00 
AA– 
3,315,060 
   
Catholic Healthcare West, Series 2008K, 5.500%, 7/01/41 – AGC Insured 
      
1,460 
  
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, 
8/16 at 100.00 
A+ 
1,609,854 
   
Series 2001C, 5.250%, 8/01/31 
      
2,500 
  
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, 
4/17 at 100.00 
A+ 
2,627,300 
   
Series 2007A, 4.750%, 4/01/33 
      
2,710 
  
California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health 
No Opt. Call 
A1 
2,970,160 
   
System, Series 1998A, 5.000%, 8/01/22 – AMBAC Insured 
      
1,890 
  
California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series 
11/15 at 100.00 
AA– 
1,985,596 
   
2005A, 5.000%, 11/15/43 
      
1,615 
  
Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 
12/15 at 100.00 
BBB 
1,646,476 
   
2005A, 5.000%, 12/01/22 
      
1,525 
  
Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 
12/17 at 100.00 
BBB 
1,749,282 
   
2008A, 8.250%, 12/01/38 
      
2,940 
  
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 
11/19 at 100.00 
Baa3 
3,279,864 
   
6.750%, 11/01/39 
      
2,900 
  
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 
11/20 at 100.00 
Baa3 
3,125,185 
   
6.000%, 11/01/41 
      
1,750 
  
San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 
12/21 at 100.00 
BB 
2,131,955 
   
7.500%, 12/01/41 
      
3,000 
  
Santa Clara County Financing Authority, California, Insured Revenue Bonds, El Camino Hospital, 
8/17 at 100.00 
A+ 
3,273,420 
   
Series 2007A, 5.750%, 2/01/41 – AMBAC Insured 
      
1,000 
  
Sierra View Local Health Care District, California, Revenue Bonds, Series 2007, 5.250%, 7/01/37 
9/17 at 100.00 
A 
1,027,460 
39,315 
  
Total Health Care 
    
42,572,584 
   
Housing/Multifamily – 2.2% (2.2% of Total Investments) 
      
1,035 
  
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects 
8/20 at 100.00 
BBB 
1,128,730 
   
Series 2010A, 6.400%, 8/15/45 
      
1,060 
  
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects 
8/22 at 100.00 
BBB 
1,124,331 
   
Series 2012A, 5.500%, 8/15/47 
      
2,355 
  
California Statewide Community Development Authority, Multifamily Housing Revenue Bonds, 
7/13 at 100.00 
N/R 
2,356,036 
   
Harbor City Lights, Series 1999Y, 6.650%, 7/01/39 (Alternative Minimum Tax) 
      
1,215 
  
San Dimas Housing Authority, California, Mobile Home Park Revenue Bonds, Charter Oak Mobile 
7/13 at 100.00 
N/R 
1,215,923 
   
Home Estates Acquisition Project, Series 1998A, 5.700%, 7/01/28 
      
5,665 
  
Total Housing/Multifamily 
    
5,825,020 
   
Housing/Single Family – 0.9% (0.9% of Total Investments) 
      
2,125 
  
California Department of Veteran Affairs, Home Purchase Revenue Bonds, Series 2007, 5.000%, 
12/16 at 100.00 
AA 
2,182,928 
   
12/01/42 (Alternative Minimum Tax) 
      
125 
  
California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, 8/01/30 – 
2/16 at 100.00 
BBB 
130,773 
   
FGIC Insured (Alternative Minimum Tax) 
      
2,250 
  
Total Housing/Single Family 
    
2,313,701 
   
Long-Term Care – 3.7% (3.7% of Total Investments) 
      
   
ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Revenue Bonds, 
      
   
Elder Care Alliance of Union City, Series 2004: 
      
1,850 
  
5.400%, 8/15/24 
8/14 at 100.00 
A 
1,899,210 
2,130 
  
5.600%, 8/15/34 
8/14 at 100.00 
A 
2,182,249 
4,000 
  
ABAG Finance Authority for Non-Profit Corporations, California, Health Facility Revenue Bonds, 
8/18 at 100.00 
A 
4,460,800 
   
The Insitute on Aging, Series 2008A, 5.650%, 8/15/38 
      
1,250 
  
California Statewide Community Development Authority, Certificates of Participation, Internext 
10/13 at 100.00 
BBB 
1,253,725 
   
Group, Series 1999, 5.375%, 4/01/17 
      
9,230 
  
Total Long-Term Care 
    
9,795,984 
   
Tax Obligation/General – 14.6% (14.5% of Total Investments) 
      
415 
  
California State, General Obligation Bonds, Series 2004, 5.000%, 2/01/20 
2/14 at 100.00 
A1 
427,554 
   
California State, General Obligation Bonds, Various Purpose Series 2009: 
      
2,500 
  
6.000%, 4/01/38 
4/19 at 100.00 
A1 
2,962,425 
1,000 
  
6.000%, 11/01/39 
11/19 at 100.00 
A1 
1,201,360 
2,000 
  
California State, General Obligation Bonds, Various Purpose Series 2010, 5.500%, 3/01/40 
3/20 at 100.00 
A1 
2,289,560 
   
California State, General Obligation Bonds, Various Purpose Series 2011: 
      
3,520 
  
5.000%, 9/01/41 
9/21 at 100.00 
A1 
3,817,827 
2,625 
  
5.000%, 10/01/41 
10/21 at 100.00 
A1 
2,849,044 
   
California State, General Obligation Bonds, Various Purpose Series 2012: 
      
1,000 
  
5.250%, 2/01/28 
2/22 at 100.00 
A1 
1,154,450 
2,500 
  
5.000%, 4/01/42 
4/22 at 100.00 
A1 
2,720,275 
1,500 
  
Los Angeles Unified School District, California, General Obligation Bonds, Series 2006F, 
7/16 at 100.00 
Aa2 
1,680,780 
   
5.000%, 7/01/24 – FGIC Insured 
      
2,000 
  
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/20 – 
No Opt. Call 
A 
2,121,980 
   
NPFG Insured 
      
11,875 
  
San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, 
9/36 at 100.00 
Aa1 
6,773,381 
   
Election 2010 Series 2011A, 0.000%, 9/01/41 
      
1,320 
  
Tahoe Forest Hospital District, Placer and Nevada Counties, California, General Obligation 
8/18 at 100.00 
Aa3 
1,493,540 
   
Bonds, Series 2010B, 5.500%, 8/01/35 
      
20,860 
  
Yosemite Community College District, California, General Obligation Bonds, Capital 
No Opt. Call 
Aa2 
8,813,976 
   
Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42 
      
53,115 
  
Total Tax Obligation/General 
    
38,306,152 
   
Tax Obligation/Limited – 20.2% (19.9% of Total Investments) 
      
1,000 
  
Artesia Redevelopment Agency, California, Tax Allocation Revenue Bonds, Artesia Redevelopment 
6/15 at 100.00 
BBB+ 
1,008,570 
   
Project Area, Series 2007, 5.375%, 6/01/27 
      
   
Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area, 
      
   
Series 2003: 
      
3,000 
  
5.500%, 10/01/23 – RAAI Insured 
10/13 at 100.00 
N/R 
2,999,760 
1,000 
  
5.625%, 10/01/33 – RAAI Insured 
10/13 at 100.00 
N/R 
950,570 
2,400 
  
Calexico Community Redevelopment Agency, California, Tax Allocation Bonds, Merged Central 
8/13 at 102.00 
A– 
2,427,576 
   
Business and Residential District Project, Series 2003C, 5.000%, 8/01/28 – AMBAC Insured 
      
1,000 
  
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 
10/19 at 100.00 
A2 
1,149,730 
   
2009G-1, 5.750%, 10/01/30 
      
2,000 
  
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 
11/19 at 100.00 
A2 
2,457,220 
   
2009-I, 6.375%, 11/01/34 
      
340 
  
Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community 
9/15 at 100.00 
A 
349,734 
   
Facilities District, Series 2005, 5.000%, 9/01/24 – FGIC Insured 
      
1,005 
  
Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation 
9/16 at 101.00 
A– 
1,007,784 
   
Bonds, Series 2006, 5.000%, 9/01/38 – AMBAC Insured 
      
1,000 
  
Folsom Public Financing Authority, California, Special Tax Revenue Bonds, Refunding Series 
9/17 at 100.00 
N/R 
1,045,430 
   
2007A, 5.000%, 9/01/23 – AMBAC Insured 
      
750 
  
Fontana Redevelopment Agency, California, Jurupa Hills Redevelopment Project, Tax Allocation 
10/13 at 100.00 
A– 
752,858 
   
Refunding Bonds, 1997 Series A, 5.500%, 10/01/27 
      
615 
  
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement 
6/15 at 100.00 
A2 
638,401 
   
Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/45 – AMBAC Insured 
      
675 
  
Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment 
5/17 at 100.00 
BB+ 
690,134 
   
Project, Subordinate Lien Series 2007A-1, 5.000%, 5/01/25 – AMBAC Insured 
      
   
Irvine Unified School District, California, Special Tax Bonds, Community Facilities District 
      
   
Series 2006A: 
      
150 
  
5.000%, 9/01/26 
9/16 at 100.00 
N/R 
154,839 
355 
  
5.125%, 9/01/36 
9/16 at 100.00 
N/R 
362,906 
2,500 
  
Kern County Board of Education, California, Certificates of Participation, Series 2006A, 
6/16 at 100.00 
A 
2,537,875 
   
5.000%, 6/01/31 – NPFG Insured 
      
750 
  
Lancaster Redevelopment Agency, California, Tax Allocation Bonds, Combined Redevelopment 
8/19 at 100.00 
BBB 
839,033 
   
Project Areas Housing Programs, Series 2009, 6.000%, 8/01/24 
      
795 
  
Milpitas, California, Local Improvement District 20 Limited Obligation Bonds, Series 1998A, 
No Opt. Call 
N/R 
801,932 
   
5.650%, 9/02/13 
      
   
Modesto Schools Infrastructure Financing Agency, Stanislaus County, California, Special Tax 
      
   
Revenue Bonds, Series 2004: 
      
1,045 
  
5.250%, 9/01/22 – AMBAC Insured 
9/14 at 100.00 
N/R 
1,068,669 
1,145 
  
5.250%, 9/01/23 – AMBAC Insured 
9/14 at 100.00 
N/R 
1,168,530 
1,255 
  
5.250%, 9/01/24 – AMBAC Insured 
9/14 at 100.00 
N/R 
1,274,779 
370 
  
National City Community Development Commission, California, Tax Allocation Bonds, National 
8/21 at 100.00 
A– 
458,097 
   
City Redevelopment Project, Series 2011, 6.500%, 8/01/24 
      
140 
  
Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment 
9/21 at 100.00 
BBB+ 
162,229 
   
Project, Series 2011, 6.750%, 9/01/40 
      
420 
  
Oakland Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Central 
8/13 at 100.00 
A 
421,138 
   
District Redevelopment Project, Series 2003, 5.500%, 9/01/18 – FGIC Insured 
      
5,910 
  
Palmdale Elementary School District, Los Angeles County, California, Special Tax Bonds, 
No Opt. Call 
AA– 
5,921,229 
   
Community Facilities District 90-1, Series 1999, 5.800%, 8/01/29 
      
   
Perris Union High School District Financing Authority, Riverside County, California, Revenue 
      
   
Bonds, Series 2011: 
      
125 
  
6.000%, 9/01/33 
9/13 at 103.00 
N/R 
129,076 
275 
  
6.125%, 9/01/41 
9/13 at 103.00 
N/R 
283,883 
1,130 
  
Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community 
9/18 at 100.00 
BBB– 
1,226,287 
   
Development Project, Refunding Series 2008A, 6.500%, 9/01/28 
      
440 
  
Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 
9/21 at 100.00 
BBB+ 
502,256 
   
2011A, 5.750%, 9/01/30 
      
290 
  
Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 
9/15 at 100.00 
A– 
291,047 
   
2005A, 5.000%, 9/01/35 – SYNCORA GTY Insured 
      
80 
  
Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project 
10/21 at 100.00 
A– 
90,832 
   
Area, Series 2011B, 6.500%, 10/01/25 
      
5,000 
  
Riverside County Redevelopment Agency, California, Tax Allocation Housing Bonds, Series 2004A, 
10/14 at 100.00 
A– 
4,865,850 
   
5.000%, 10/01/37 – SYNCORA GTY Insured 
      
360 
  
Roseville, California, Certificates of Participation, Public Facilities, Series 2003A, 5.000%, 
8/13 at 100.00 
AA– 
362,135 
   
8/01/25 – AMBAC Insured 
      
1,000 
  
San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, 
4/22 at 100.00 
AAA 
1,114,290 
   
Series 2012A, 5.000%, 4/01/42 
      
65 
  
San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, 
2/21 at 100.00 
A– 
77,052 
   
Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41 
      
   
San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, 
      
   
Mission Bay South Redevelopment Project, Series 2011D: 
      
65 
  
7.000%, 8/01/33 
2/21 at 100.00 
BBB 
75,589 
80 
  
7.000%, 8/01/41 
2/21 at 100.00 
BBB 
91,723 
2,750 
  
San Jose Financing Authority, California, Lease Revenue Refunding Bonds, Convention Center 
9/13 at 100.00 
AA 
2,760,780 
   
Project, Series 2001F, 5.000%, 9/01/20 – NPFG Insured 
      
   
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment 
      
   
Project, Series 2006C: 
      
400 
  
5.000%, 8/01/24 – NPFG Insured 
8/17 at 100.00 
A 
413,792 
590 
  
5.000%, 8/01/25 – NPFG Insured 
8/17 at 100.00 
A 
608,974 
780 
  
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment 
8/17 at 100.00 
BBB 
805,685 
   
Project, Series 2006D, 5.000%, 8/01/23 – AMBAC Insured 
      
910 
  
Santa Clara Valley Transportation Authority, California, Sales Tax Revenue Bonds, Series 
4/17 at 100.00 
AA+ 
1,010,246 
   
2007A, 5.000%, 4/01/36 – AMBAC Insured 
      
110 
  
Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 
4/21 at 100.00 
N/R 
121,925 
   
7.000%, 10/01/26 
      
1,000 
  
Simi Valley, California, Certificates of Participation, Series 2004, 5.000%, 9/01/24 – 
9/14 at 100.00 
A+ 
1,040,040 
   
AMBAC Insured 
      
1,420 
  
Tehachapi Redevelopment Agency, California, Tax Allocation Bonds, Series 2007, 5.250%, 
12/17 at 100.00 
BBB– 
1,378,110 
   
12/01/37 – RAAI Insured 
      
1,925 
  
Travis Unified School District, Solano County, California, Certificates of Participation, 
9/16 at 100.00 
N/R 
1,964,751 
   
Series 2006, 5.000%, 9/01/26 – FGIC Insured 
      
875 
  
Vista Joint Powers Financing Authority, California, Special Tax Lease Revenue Refunding Bonds, 
9/13 at 100.00 
N/R 
875,840 
   
Community Facilities District 90-2, Series 1997A, 5.875%, 9/01/20 
      
1,730 
  
West Contra Costa Healthcare District, California, Certificates of Participation, Series 2004, 
7/14 at 100.00 
A– 
1,789,495 
   
5.375%, 7/01/21 – AMBAC Insured 
      
190 
  
Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, 
9/21 at 100.00 
A– 
227,588 
   
Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.500%, 9/01/32 
      
51,210 
  
Total Tax Obligation/Limited 
    
52,756,269 
   
Transportation – 2.7% (2.7% of Total Investments) 
      
5,500 
  
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding 
1/14 at 101.00 
BBB– 
5,627,930 
   
Bonds, Series 1999, 5.875%, 1/15/27 
      
1,250 
  
Fresno, California, Airport Revenue Bonds, Series 2000A, 5.500%, 7/01/30 – AGM Insured 
7/13 at 100.00 
AA– 
1,251,900 
215 
  
Palm Springs Financing Authority, California, Palm Springs International Airport Revenue 
7/14 at 102.00 
N/R 
215,477 
   
Bonds, Series 2006, 5.550%, 7/01/28 (Alternative Minimum Tax) 
      
6,965 
  
Total Transportation 
    
7,095,307 
   
U.S. Guaranteed – 17.4% (17.2% of Total Investments) (4) 
      
2,500 
  
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 
4/16 at 100.00 
AA (4) 
2,814,575 
   
2006F, 5.000%, 4/01/31 (Pre-refunded 4/01/16) (UB) 
      
5,010 
  
Burbank Redevelopment Agency, California, Tax Allocation Bonds, Golden State Redevelopment 
12/13 at 100.00 
N/R (4) 
5,147,224 
   
Project, Series 2003, 5.750%, 12/01/33 (Pre-refunded 12/01/13) – FGIC Insured 
      
1,480 
  
California Department of Water Resources, Water System Revenue Bonds, Central Valley Project, 
6/15 at 100.00 
AAA 
1,615,124 
   
Series 2005AD, 5.000%, 12/01/22 (Pre-refunded 6/01/15) – AGM Insured 
      
   
California State, General Obligation Bonds, Series 2004: 
      
85 
  
5.000%, 2/01/20 (Pre-refunded 2/01/14) 
2/14 at 100.00 
Aaa 
87,692 
2,845 
  
5.250%, 4/01/34 (Pre-refunded 4/01/14) 
4/14 at 100.00 
AAA 
2,964,433 
2,065 
  
Contra Costa County, California, GNMA Mortgage-Backed Securities Program Home Mortgage Revenue 
No Opt. Call 
Aaa 
2,764,787 
   
Bonds, Series 1988, 8.250%, 6/01/21 (Alternative Minimum Tax) (ETM) 
      
2,750 
  
Los Angeles County Schools, California, Certificates of Participation, Pooled Financing 
9/13 at 100.00 
AA– (4) 
2,782,918 
   
Program, Regionalized Business Services Corporation, Series 2003A, 5.000%, 9/01/28 
      
   
(Pre-refunded 9/01/13) – AGM Insured 
      
2,000 
  
Orange County Sanitation District, California, Certificates of Participation, Series 2003, 
8/13 at 100.00 
AAA 
2,016,960 
   
5.250%, 2/01/27 (Pre-refunded 8/01/13) – FGIC Insured 
      
8,565 
  
Palmdale, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue 
No Opt. Call 
AA+ (4) 
8,283,126 
   
Bonds, Series 1988A, 0.000%, 3/01/17 (ETM) 
      
270 
  
Roseville Joint Union High School District, Placer County, California, General Obligation 
8/15 at 100.00 
AA (4) 
296,857 
   
Bonds, Series 2006B, 5.000%, 8/01/27 (Pre-refunded 8/01/15) – FGIC Insured 
      
20,415 
  
San Bernardino County, California, GNMA Mortgage-Backed Securities Program Single Family Home 
No Opt. Call 
Aaa 
13,895,266 
   
Mortgage Revenue Bonds, Series 1988A, 0.000%, 9/01/21 (Alternative Minimum Tax) (ETM) 
      
625 
  
San Mateo Union High School District, San Mateo County, California, Certificates of 
12/17 at 100.00 
AA– (4) 
741,463 
   
Participation, Phase 1, Series 2007A, 5.000%, 12/15/30 (Pre-refunded 12/15/17) – AMBAC Insured 
      
2,000 
  
Woodbridge Irrigation District, California, Certificates of Participation, Water Systems 
7/13 at 100.00 
A+ (4) 
2,009,000 
   
Project, Series 2003, 5.625%, 7/01/43 (Pre-refunded 7/01/13) 
      
50,610 
  
Total U.S. Guaranteed 
    
45,419,425 
   
Utilities – 8.5% (8.4% of Total Investments) 
      
2,445 
  
California Statewide Community Development Authority, Certificates of Participation Refunding, 
12/13 at 100.00 
N/R 
2,397,812 
   
Rio Bravo Fresno Project, Series 1999A, 6.500%, 12/01/18 
      
1,800 
  
Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 
No Opt. Call 
A 
2,174,130 
   
2007A, 5.500%, 11/15/37 
      
1,215 
  
Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 
7/23 at 100.00 
AA– 
1,412,996 
   
2013B, 5.000%, 7/01/29 (WI/DD, Settling 6/04/13) 
      
21,500 
  
Merced Irrigation District, California, Certificates of Participation, Water and Hydroelectric 
9/16 at 64.56 
A 
12,089,665 
   
Series 2008B, 0.000%, 9/01/23 
      
605 
  
Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%, 
9/15 at 100.00 
N/R 
619,992 
   
9/01/31 – SYNCORA GTY Insured 
      
3,470 
  
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities 
12/13 at 100.00 
Ba1 
3,469,549 
   
Financing Authority, Co-Generation Facility Revenue Bonds, Series 2000A, 6.625%, 6/01/26 
      
   
(Alternative Minimum Tax) 
      
31,035 
  
Total Utilities 
    
22,164,144 
   
Water and Sewer – 8.8% (8.7% of Total Investments) 
      
   
California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon 
      
   
Resources Channelside Desalination Project, Series 2012: 
      
1,375 
  
5.000%, 7/01/37 (Alternative Minimum Tax) 
No Opt. Call 
Baa3 
1,387,939 
2,675 
  
5.000%, 11/21/45 (Alternative Minimum Tax) 
No Opt. Call 
Baa3 
2,682,838 
1,500 
  
Castaic Lake Water Agency, California, Certificates of Participation, Series 2006C, 5.000%, 
8/16 at 100.00 
AA– 
1,617,330 
   
8/01/36 – NPFG Insured 
      
410 
  
Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006, 
4/16 at 100.00 
AA– 
441,775 
   
5.000%, 4/01/36 – NPFG Insured 
      
500 
  
Los Angeles County Sanitation Districts Financing Authority, California, Senior Revenue Bonds, 
10/13 at 100.00 
AA+ 
507,720 
   
Capital Projects, Series 2003A, 5.000%, 10/01/23 – AGM Insured 
      
5,000 
  
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 
7/17 at 100.00 
AA 
5,456,650 
   
2007A-2, 5.000%, 7/01/44 – AMBAC Insured 
      
   
Madera Irrigation District. California, Water Revenue Refunding Bonds, Series 2008: 
      
1,850 
  
5.500%, 1/01/33 
1/18 at 100.00 
A– 
2,047,630 
3,000 
  
5.500%, 1/01/38 
1/18 at 100.00 
A– 
3,209,310 
5,000 
  
Metropolitan Water District of Southern California, Water Revenue Bonds, 2006 Authorization 
7/17 at 100.00 
AAA 
5,596,800 
   
Series 2007A, 5.000%, 7/01/37 
      
21,310 
  
Total Water and Sewer 
    
22,947,992 
$      292,030 
  
Total Investments (cost $240,621,981) – 101.1% 
    
264,381,892 
   
Floating Rate Obligations – (1.7)% 
    
(4,490,000)
   
Other Assets Less Liabilities – 0.6% 
    
1,544,276 
   
Net Assets – 100% 
    
$   261,436,168 
 
 
 
 
 
 

 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
 
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund's fair value measurements as of the end of the reporting period:
 
         
 
Level 1 
Level 2 
Level 3 
Total 
Long-Term Investments: 
        
Municipal Bonds 
$ — 
$264,381,892 
$ — 
$264,381,892 
 
Income Tax Information
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
As of May 31, 2013, the cost of investments was $236,086,930.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of May 31, 2013, were as follows:
 
   
Gross unrealized: 
  
Appreciation 
$24,433,065 
Depreciation 
(626,582)
Net unrealized appreciation (depreciation) of investments 
$23,806,483 
 
 
     
(1) 
  
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common 
   
shares unless otherwise noted. 
(2) 
  
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. 
   
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities 
   
may be subject to periodic principal paydowns. 
(3) 
  
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, 
   
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or 
   
BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any 
   
of these national rating agencies. 
(4) 
  
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, 
   
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or 
   
agency securities are regarded as having an implied rating equal to the rating of such securities. 
N/R 
  
Not rated. 
WI/DD 
  
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. 
(ETM) 
  
Escrowed to maturity. 
(UB) 
  
Underlying bond of an inverse floating rate trust reflected as a financing transaction. 
 
 
 
 
 
 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
 
Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 
 
 
 
 
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)  Nuveen California Municipal Value Fund, Inc. 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         July 30, 2013        
 
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 (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date:         July 30, 2013        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         July 30, 2013