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 811-7720
 
Nuveen California Premium Income Municipal Fund
(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:         11/30/10         
 
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 Premium Income Municipal Fund (NCU)
     
   
November 30, 2010
     
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
Consumer Staples – 6.8% (4.5% of Total Investments)
     
$ 1,500
 
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds,
6/12 at 100.00
Baa3
$ 1,464,975
   
Alameda County Tobacco Asset Securitization Corporation, Series 2002, 5.750%, 6/01/29
     
215
 
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma
6/15 at 100.00
BBB
199,718
   
County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21
     
2,920
 
California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled
5/12 at 100.00
Baa3
2,801,915
   
Tobacco Securitization Program, Series 2002A, 5.625%, 5/01/29
     
1,350
 
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
6/22 at 100.00
Baa3
816,075
   
Bonds, Series 2007A-2, 0.000%, 6/01/37
     
5,985
 
Total Consumer Staples
   
5,282,683
   
Education and Civic Organizations – 6.3% (4.2% of Total Investments)
     
70
 
California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series
10/15 at 100.00
A3
64,353
   
2005A, 5.000%, 10/01/35
     
   
California Educational Facilities Authority, Revenue Bonds, University of the Pacific,
     
   
Series 2006:
     
45
 
5.000%, 11/01/21
11/15 at 100.00
A2
47,242
60
 
5.000%, 11/01/25
11/15 at 100.00
A2
61,708
1,112
 
California State Public Works Board, Lease Revenue Bonds, University of California Regents,
3/18 at 100.00
Aa2
1,070,834
   
Tender Option Bond Trust 1065, 9.176%, 3/01/33 (IF)
     
2,000
 
California State University, Systemwide Revenue Bonds, Series 2005C, 5.000%, 11/01/27 –
11/15 at 100.00
Aa2
2,052,500
   
NPFG Insured
     
   
University of California, General Revenue Bonds, Series 2003A:
     
255
 
5.125%, 5/15/17 – AMBAC Insured (UB)
5/13 at 100.00
Aa1
280,668
1,245
 
5.125%, 5/15/17 – AMBAC Insured (UB)
5/13 at 100.00
Aa1
1,353,514
4,787
 
Total Education and Civic Organizations
   
4,930,819
   
Energy – 0.6% (0.4% of Total Investments)
     
500
 
Virgin Islands Public Finance Authority, Revenue Bonds, Refinery Project Hovensa LLC, Series
1/15 at 100.00
Baa3
449,115
   
2007, 4.700%, 7/01/22 (Alternative Minimum Tax)
     
   
Health Care – 28.3% (18.8% of Total Investments)
     
3,435
 
California Health Facilities Financing Authority, Hospital Revenue Bonds, Downey Community
5/11 at 100.00
N/R
2,279,947
   
Hospital, Series 1993, 5.750%, 5/15/15 (5)
     
155
 
California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanante System,
4/16 at 100.00
A+
147,163
   
Series 2006, 5.000%, 4/01/37
     
3,525
 
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A,
11/16 at 100.00
AA–
3,402,436
   
5.250%, 11/15/46 (UB)
     
1,500
 
California Infrastructure Economic Development Bank, Revenue Bonds, Kaiser Hospital Assistance
8/11 at 102.00
A+
1,520,640
   
LLC, Series 2001A, 5.550%, 8/01/31
     
685
 
California Municipal Financing Authority, Certificates of Participation, Community Hospitals
2/17 at 100.00
Baa2
582,723
   
of Central California, Series 2007, 5.250%, 2/01/46
     
1,000
 
California Statewide Community Development Authority, Insured Health Facility Revenue Bonds,
10/17 at 100.00
A–
897,980
   
Henry Mayo Newhall Memorial Hospital, Series 2007A, 5.000%, 10/01/37
     
1,740
 
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity
7/15 at 100.00
BBB
1,563,007
   
Health System, Series 2005A, 5.250%, 7/01/30
     
490
 
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante System,
3/16 at 100.00
A+
460,213
   
Series 2006, 5.000%, 3/01/41
     
730
 
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System,
8/16 at 100.00
A+
732,781
   
Series 2001C, 5.250%, 8/01/31
     
3,000
 
California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital
8/19 at 100.00
Aa2
3,354,210
   
Project, Series 2009, 6.750%, 2/01/38
     
2,100
 
California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health
No Opt. Call
A1
2,125,431
   
System, Series 1998A, 5.000%, 8/01/22 – AMBAC Insured
     
1,690
 
California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series
11/15 at 100.00
Aa3
1,569,266
   
2005A, 5.000%, 11/15/43
     
377
 
California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health
7/18 at 100.00
AA+
379,045
   
System, Trust 2554, 18.054%, 7/01/47 – AGM Insured (IF)
     
760
 
Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series
12/17 at 100.00
BBB
845,599
   
2008A, 8.250%, 12/01/38
     
1,450
 
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010,
11/20 at 100.00
Baa3
1,385,330
   
6.000%, 11/01/41
     
1,000
 
The Regents of the University of California, Medical Center Pooled Revenue Bonds, Series
5/17 at 101.00
Aa2
968,780
   
2009E, 5.000%, 5/15/38
     
23,637
 
Total Health Care
   
22,214,551
   
Housing/Multifamily – 0.6% (0.4% of Total Investments)
     
500
 
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects
8/20 at 100.00
BBB–
484,265
   
Series 2010A, 6.400%, 8/15/45
     
   
Housing/Single Family – 3.2% (2.1% of Total Investments)
     
2,500
 
California Housing Finance Agency, California, Home Mortgage Revenue Bonds, Series 2008L,
2/18 at 100.00
A
2,407,050
   
5.500%, 8/01/38
     
130
 
California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%,
2/16 at 100.00
A
132,282
   
8/01/30 – FGIC Insured (Alternative Minimum Tax)
     
2,630
 
Total Housing/Single Family
   
2,539,332
   
Industrials – 0.6% (0.4% of Total Investments)
     
500
 
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste
1/16 at 102.00
BBB
497,875
   
Management Inc., Series 2002A, 5.000%, 1/01/22 (Alternative Minimum Tax)
     
   
Tax Obligation/General – 28.0% (18.6% of Total Investments)
     
1,500
 
California, General Obligation Bonds, Series 2003, 5.000%, 2/01/31 – NPFG Insured
2/13 at 100.00
A1
1,459,950
   
California, General Obligation Bonds, Various Purpose Series 2009:
     
2,350
 
6.000%, 11/01/39
11/19 at 100.00
A1
2,466,443
1,300
 
5.500%, 11/01/39
11/19 at 100.00
A1
1,305,850
4,000
 
California, General Obligation Veterans Welfare Bonds, Series 1999BR, 5.300%, 12/01/29
12/10 at 100.00
AA
3,881,200
   
(Alternative Minimum Tax)
     
6,000
 
Hartnell Community College District, California, General Obligation Bonds, Series 2006B,
6/16 at 100.00
AA+
6,084,960
   
5.000%, 6/01/29 – AGM Insured (UB)
     
3,000
 
Pomona Unified School District, Los Angeles County, California, General Obligation Refunding
8/11 at 103.00
A
3,184,740
   
Bonds, Series 1997A, 6.150%, 8/01/15 – NPFG Insured
     
15
 
Riverside Community College District, California, General Obligation Bonds, Series 2004A,
8/14 at 100.00
AA
16,399
   
5.250%, 8/01/22 – NPFG Insured
     
135
 
Roseville Joint Union High School District, Placer County, California, General Obligation
8/15 at 100.00
AA–
137,835
   
Bonds, Series 2006B, 5.000%, 8/01/27 – FGIC Insured
     
1,355
 
San Jose-Evergreen Community College District, Santa Clara County, California, General
9/15 at 100.00
Aa1
1,398,523
   
Obligation Bonds, Series 2005A, 5.000%, 9/01/25 – NPFG Insured
     
8,345
 
Yosemite Community College District, California, General Obligation Bonds, Capital
No Opt. Call
Aa2
2,032,842
   
Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42
     
28,000
 
Total Tax Obligation/General
   
21,968,742
   
Tax Obligation/Limited – 45.1% (29.9% of Total Investments)
     
1,000
 
Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area,
10/13 at 100.00
N/R
836,830
   
Series 2003, 5.625%, 10/01/33 – RAAI Insured
     
   
California Infrastructure Economic Development Bank, Revenue Bonds, North County Center for
     
   
Self-Sufficiency Corporation, Series 2004:
     
1,695
 
5.000%, 12/01/22 – AMBAC Insured
12/13 at 100.00
AA
1,741,494
1,865
 
5.000%, 12/01/24 – AMBAC Insured
12/13 at 100.00
AA
1,899,670
5,920
 
California State Public Works Board, Lease Revenue Bonds, Department of Veterans Affairs,
5/11 at 100.50
A2
5,964,163
   
Southern California Veterans Home – Chula Vista Facility, Series 1999A, 5.600%, 11/01/19 –
     
   
AMBAC Insured
     
1,000
 
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series
10/19 at 100.00
A2
1,011,990
   
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
2,111,860
   
2009I-1, 6.375%, 11/01/34
     
535
 
California, Economic Recovery Revenue Bonds, Series 2004A, 5.000%, 7/01/15
7/14 at 100.00
Aa3
593,695
165
 
Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community
9/15 at 100.00
A
159,492
   
Facilities District, Series 2005, 5.000%, 9/01/24 – FGIC Insured
     
500
 
Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation
9/16 at 101.00
A–
431,270
   
Bonds, Series 2006, 5.000%, 9/01/38 – AMBAC Insured
     
   
Irvine, California, Unified School District, Community Facilities District Special Tax Bonds,
     
   
Series 2006A:
     
75
 
5.000%, 9/01/26
9/16 at 100.00
N/R
68,130
175
 
5.125%, 9/01/36
9/16 at 100.00
N/R
153,580
3,500
 
Livermore Redevelopment Agency, California, Tax Allocation Revenue Bonds, Livermore
8/11 at 100.00
A
3,326,330
   
Redevelopment Project Area, Series 2001A, 5.000%, 8/01/26 – NPFG Insured
     
310
 
Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social
9/15 at 100.00
A1
268,376
   
Services Project, Series 2005, 5.000%, 9/01/37 – AMBAC Insured
     
2,000
 
Los Angeles, California, Municipal Improvement Corporation, Lease Revenue Bonds, Police
1/17 at 100.00
A+
1,822,300
   
Headquarters, Series 2006A, 4.750%, 1/01/31 – FGIC Insured
     
3,230
 
Murrieta Redevelopment Agency, California, Tax Allocation Bonds, Series 2005, 5.000%,
8/15 at 100.00
A
2,759,454
   
8/01/35 – NPFG Insured
     
155
 
Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series
9/15 at 100.00
A–
135,042
   
2005A, 5.000%, 9/01/35 – SYNCORA GTY Insured
     
190
 
Roseville, California, Certificates of Participation, Public Facilities, Series 2003A,
8/13 at 100.00
AA–
188,526
   
5.000%, 8/01/25 – AMBAC Insured
     
1,500
 
Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A,
No Opt. Call
A1
1,609,860
   
5.400%, 11/01/20 – NPFG Insured
     
3,000
 
Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993B,
No Opt. Call
A1
3,219,720
   
5.400%, 11/01/20
     
2,000
 
San Francisco City and County, California, Certificates of Participation, Multiple Capital
4/19 at 100.00
AA–
2,111,960
   
Improvement Projects, Series 2009A, 5.200%, 4/01/26
     
   
San Marcos Public Facilities Authority, California, Revenue Refunding Bonds, Series 1998:
     
1,500
 
5.800%, 9/01/18
3/11 at 100.00
Baa3
1,505,700
1,000
 
5.800%, 9/01/27
3/11 at 100.00
Baa3
976,880
325
 
San Mateo Union High School District, San Mateo County, California, Certificates of
12/17 at 100.00
AA–
302,608
   
Participation, Phase 1, Series 2007A, 5.000%, 12/15/30 – AMBAC Insured
     
2,050
 
Santa Barbara County, California, Certificates of Participation, Series 2001, 5.250%,
12/11 at 102.00
AA+
2,162,279
   
12/01/19 – AMBAC Insured
     
35,690
 
Total Tax Obligation/Limited
   
35,361,209
   
Transportation – 3.5% (2.3% of Total Investments)
     
780
 
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series
4/16 at 100.00
AA
788,861
   
2006F, 5.000%, 4/01/31 (UB)
     
220
 
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series
4/18 at 100.00
AA
239,312
   
2008, Trust 3211, 13.319%, 10/01/32 (IF)
     
2,000
 
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series
1/11 at 100.00
BBB–
1,690,740
   
1995A, 5.000%, 1/01/35
     
3,000
 
Total Transportation
   
2,718,913
   
U.S. Guaranteed – 12.8% (8.5% of Total Investments) (4)
     
2,000
 
California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A, 5.125%,
5/12 at 101.00
Aaa
2,151,480
   
5/01/18 (Pre-refunded 5/01/12)
     
3,000
 
California Infrastructure Economic Development Bank, First Lien Revenue Bonds, San Francisco
No Opt. Call
AAA
3,546,390
   
Bay Area Toll Bridge, Series 2003A, 5.000%, 7/01/22 – AGM Insured (ETM)
     
370
 
California, Economic Recovery Revenue Bonds, Series 2004A, 5.000%, 7/01/15 (Pre-refunded 7/01/14)
7/14 at 100.00
AAA
422,496
3,495
 
Orange County Sanitation District, California, Certificates of Participation, Series 2003,
8/13 at 100.00
AAA
3,917,965
   
5.250%, 2/01/21 (Pre-refunded 8/01/13) – FGIC Insured
     
8,865
 
Total U.S. Guaranteed
   
10,038,331
   
Utilities – 8.0% (5.3% of Total Investments)
     
890
 
Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series
No Opt. Call
A
876,454
   
2007A, 5.500%, 11/15/37
     
275
 
Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series
7/13 at 100.00
AA–
294,580
   
2003A-2, 5.000%, 7/01/21 – NPFG Insured
     
295
 
Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%,
9/15 at 100.00
N/R
255,137
   
9/01/31 – SYNCORA GTY Insured
     
4,580
 
Sacramento Municipal Utility District, California, Electric Revenue Refunding Bonds, Series
8/12 at 100.00
AA+
4,841,564
   
2002Q, 5.250%, 8/15/20 – AGM Insured
     
6,040
 
Total Utilities
   
6,267,735
   
Water and Sewer – 7.0% (4.6% of Total Investments)
     
1,125
 
Burbank, California, Wastewater System Revenue Bonds, Series 2004A, 5.000%, 6/01/23 –
6/14 at 100.00
AA+
1,158,570
   
AMBAC Insured
     
205
 
Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006,
4/16 at 100.00
AA–
200,945
   
5.000%, 4/01/36 – NPFG Insured
     
670
 
Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Tender Option
7/19 at 100.00
AAA
751,927
   
Bond Trust 09-8B, 16.875%, 7/01/35 (IF)
     
1,500
 
Orange County Water District, California, Revenue Certificates of Participation, Tender Option
8/20 at 100.00
AAA
1,648,019
   
Bond Trust 11782-1, 17.216%, 2/15/35 (IF)
     
1,795
 
Woodbridge Irrigation District, California, Certificates of Participation, Water Systems
7/13 at 100.00
A+
1,742,962
   
Project, Series 2003, 5.500%, 7/01/33
     
5,295
 
Total Water and Sewer
   
5,502,423
$ 125,429
 
Total Investments (cost $118,191,505) – 150.8%
   
118,255,993
   
Floating Rate Obligations – (8.5)%
   
(6,650,000)
   
MuniFund Term Preferred Shares, at Liquidation Value – (45.0)% (6)
   
(35,250,000)
   
Other Assets Less Liabilities – 2.7%
   
2,063,575
   
Net Assets Applicable to Common Shares – 100%
   
$ 78,419,568
 
 
 
 
 

 
 
 
 
Fair Value Measurements
 
 
In determining the fair value of the Fund’s investments, various inputs are used. These inputs are summarized in the three broad levels listed below:
 
 
Level 1 – Quoted prices in active markets for identical securities.
 
 
Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
 
Level 3 – 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 risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of November 30, 2010:
 
         
 
Level 1
Level 2
Level 3
Total
Investments:
       
Municipal Bonds
$ —
$115,976,046
$2,279,947
$118,255,993
 
 
The following is a reconciliation of the Fund’s Level 3 investments held at the beginning and end of the measurement period:
 
   
 
Level 3
 
Municipal Bonds
Balance at the beginning of period
$            —
Gains (losses):
 
Net realized gains (losses)
Net change in unrealized appreciation (depreciation)
Net purchases at cost (sales at proceeds)
Net discounts (premiums)
Net transfers in to (out of) at end of period fair value
2,279,947
Balance at the end of period
$2,279,947
 
 
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.
 
 
At November 30, 2010, the cost of investments was $111,439,082.
 
 
Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2010, were as follows:
 
   
Gross unrealized:
 
Appreciation
$   4,061,168
Depreciation
(3,896,434)
Net unrealized appreciation (depreciation) of investments
$     164,734
 
     
(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 Investor 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.
(5)
 
For fair value measurement disclosure purposes, investment categorized as Level 3.
(6)
 
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 29.8%
N/R
 
Not rated.
(ETM)
 
Escrowed to maturity.
(IF)
 
Inverse floating rate investment.
(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 Premium Income Municipal Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date         January 27, 2011        
 
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         January 27, 2011        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date         January 27, 2011