Morgan Stanley ownership in VCV / Invesco California Value Municipal Income Trust

景順加州價值市政收入信託

US ˙ NYSE ˙ US46132H1068

Security	VCV / Invesco California Value Municipal Income Trust
Institution	Morgan Stanley
Latest Disclosed Ownership	2,623,570 shares
Ownership	5.50%

2026-02-11 - Morgan Stanley has filed an SCHEDULE 13G form with the Securities and Exchange Commission (SEC) disclosing ownership of 2,623,570 shares of Invesco California Value Municipal Income Trust (US:VCV). This represents 5.5 percent ownership of the company.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File Date	Effective Date	Form	Prev Shares	Latest Shares	ΔShares (Percent)	Ownership (Percent)	ΔOwnership (Percent)
2026-02-11	2026-02-11	13G		2,623,570		5.50

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-15	2026-03-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	2,756,791	133,221	5.08	28,781	-1.44	0.0017
2026-05-27	2025-12-31	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	2,623,570	357,462	15.77	29,200	21.68	0.0017
2026-02-13	2025-12-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	2,623,570	357,462		29,200		0.0017
2026-05-27	2025-09-30	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	2,266,108	102,799	4.75	23,998	6.98	0.0015
2025-11-14	2025-09-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	2,266,108	102,799		23,998		0.0015
2025-08-15	2025-06-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	2,163,309	131,945	6.50	22,434	4.09	0.0015
2025-05-15	2025-03-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	2,031,364	37,087	1.86	21,553	-1.21	0.0015
2025-05-15	2024-12-31	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,994,277	189,479	10.50	21,817	11.01	0.0015
2025-02-14	2024-12-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,994,277	189,479		21,817		0.0015
2025-05-14	2024-09-30	13F/A-2	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,804,798	53,523	3.06	19,654	7.70	0.0014
2025-02-14	2024-09-30	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,804,798	53,523		19,654		0.0014
2024-11-14	2024-09-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,804,798	53,523		19,654		0.0002
2025-05-14	2024-06-30	13F/A-2	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,751,275	104,580	6.35	18,248	11.26	0.0014
2024-10-17	2024-06-30	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,751,275	104,580		18,248		0.0014
2024-08-14	2024-06-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,751,275	104,580		18,248		0.0014
2024-10-17	2024-03-31	13F/A-2	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,646,695	85,288	5.46	16,401	7.19	0.0013
2024-08-16	2024-03-31	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,646,695	85,288		16,401		0.0002
2024-05-15	2024-03-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,646,695	85,288		16,401		0.0013
2024-08-16	2023-12-31	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,561,407	175,219	12.64	15,302	30.95	0.0013
2024-02-13	2023-12-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,561,407	175,219		15,302		0.0013
2023-11-15	2023-09-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,386,188	-6,312	-0.45	11,686	-12.41	0.0012
2023-08-14	2023-06-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,392,500	168,338	13.75	13,340	7.16	0.0013
2023-05-15	2023-03-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,224,162	74,057	6.44	12,450	14.19	0.0013
2023-02-14	2022-12-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,150,105	-131,194	-10.24	10,903	-5.36	0.0012
2022-11-14	2022-09-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,281,299	40,514	3.27	11,519	-12.09	0.0016
2022-10-27	2022-06-30	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,240,785	135,569	12.27	13,103	7.00	0.0017
2022-08-15	2022-06-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,240,785	135,569		13,103		0.0003
2022-10-27	2022-03-31	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,105,216	35,014	3.27	12,246	-17.74	0.0017
2022-05-13	2022-03-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,105,216	35,014		12,246		0.0017
2022-02-14	2021-12-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	1,070,202	88,165	8.98	14,887	9.85	0.0018
2021-11-15	2021-09-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	982,037	24,153	2.52	13,552	1.71	0.0018
2021-08-23	2021-06-30	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	957,884	8,068	0.85	13,324	9.68	0.0018
2021-08-16	2021-06-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	957,884	8,068		13,324		0.0004
2021-05-17	2021-03-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	949,816	-36,789	-3.73	12,148	-6.93	0.0018
2021-02-16	2020-12-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	986,605	31,706	3.32	13,053	9.44	0.0020
2020-11-13	2020-09-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	954,899	-40,900	-4.11	11,927	2.54	0.0023
2020-08-14	2020-06-30	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	995,799	19,085	1.95	11,631	5.11	0.0026
2020-05-26	2020-03-31	13F/A-1	INVESCO CALIF VALUE MUN INCO	COM	46132H106	976,714	150,208	18.17	11,066	4.44	0.0030
2020-05-15	2020-03-31	13F	INVESCO CALIF VALUE MUN INCO	COM	46132H106	976,714	150,208		11,066		850.0995
2020-02-14	2019-12-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	826,506	85,119	11.48	10,596	11.48	0.0025
2019-11-14	2019-09-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	741,387	7,822	1.07	9,505	0.14	0.0025
2019-08-14	2019-06-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	733,565	75,460	11.47	9,492	18.71	0.0025
2019-05-15	2019-03-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	658,105	52,005	8.58	7,996	16.64	0.0023
2019-02-14	2018-12-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	606,100	52,755	9.53	6,855	5.87	0.0021
2019-04-23	2018-09-30	13F/A-2	INVESCO CALIF VALUE MUN	COM	46132H106	553,345	43,470	8.53	6,475	7.63	0.0016
2018-11-20	2018-09-30	13F/A-1	INVESCO CALIF VALUE MUN	COM	46132H106	553,345	0		6,475		0.0016
2018-11-14	2018-09-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	553,345	43,470		6,475
2019-04-23	2018-06-30	13F/A-1	INVESCO CALIF VALUE MUN	COM	46132H106	509,875	66,011	14.87	6,016	16.14	0.0016
2018-08-14	2018-06-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	509,875	66,011		6,016
2019-04-23	2018-03-31	13F/A-1	INVESCO CALIF VALUE MUN	COM	46132H106	443,864	-14,556	-3.18	5,180	-10.18	0.0014
2018-05-14	2018-03-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	443,864	-14,556		5,180
2019-04-23	2017-12-31	13F/A-1	INVESCO CALIF VALUE MUN	COM	46132H106	458,420	15,289	3.45	5,767	-0.83	0.0016
2018-02-14	2017-12-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	458,420	15,289		5,767
2017-11-14	2017-09-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	443,131	-173,062	-28.09	5,815	-25.34	0.0017
2017-08-11	2017-06-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	616,193	-13,435	-2.13	7,789	0.41	0.0024
2017-05-22	2017-03-31	13F/A-1	INVESCO CALIF VALUE MUN	COM	46132H106	629,628	62,428	11.01	7,757	12.65	0.0024
2017-05-12	2017-03-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	629,628			7,757
2017-02-22	2016-12-31	13F/A-1	INVESCO CALIF VALUE MUN	COM	46132H106	567,200	174,591	44.47	6,886	27.09	0.0023
2017-02-13	2016-12-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	567,200			6,886
2016-11-10	2016-09-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	392,609	27,885	7.65	5,418	1.88	0.0019
2016-08-12	2016-06-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	364,724	8,943	2.51	5,318	7.83	0.0019
2016-05-12	2016-03-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	355,781	-5,888	-1.63	4,932	2.92	0.0019
2016-02-09	2015-12-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	361,669	131,069	56.84	4,792	65.30	0.0017
2016-02-08	2015-09-30	13F/A-1	INVESCO CALIF VALUE MUN	COM	46132H106	230,600	46,802	25.46	2,899	27.48	0.0011
2015-11-09	2015-09-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	230,600			2,899
2015-08-12	2015-06-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	183,798	12,232	7.13	2,274	-0.87	0.0008
2015-05-14	2015-03-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	171,566	-231,919	-57.48	2,294	-55.79	0.0008
2015-02-13	2014-12-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	403,485	149,440	58.82	5,189	67.28	0.0019
2014-12-16	2014-09-30	13F/A-1	INVESCO CALIF VALUE MUN	COM	46132H106	254,045	-7,385	-2.82	3,102	0.55	0.0012
2014-11-14	2014-09-30	13F	INVESCO CALIF VALUE MUN	COM	46132H106	254,045			3,102
2014-05-13	2014-03-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	261,430	34,099	15.00	3,085	19.07	0.0013
2014-02-13	2013-12-31	13F	INVESCO CALIF VALUE MUN	COM	46132H106	227,331	20,703	10.02	2,591	11.78	0.0011
2013-11-13	2013-09-30	13F	INVESCO VAN KAMPEN CALIFORN	COM	46132H106	206,628	70,376	51.65	2,318	41.17	0.0011
2013-08-08	2013-06-30	13F	INVESCO VAN KAMPEN CALIFORN	COM	46132H106	136,252	136,252		1,642		0.0008

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.