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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 6
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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072CC010400 3066
072CC020400 0
072DD010400 570
072DD020400 0
072EE000400 6721
073 A010400 0.2000
073 A020400 0.0000
073 B000400 2.5100
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 57073
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 118
074 M000400 0
074 N000400 57191
074 O000400 0
074 P000400 12
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 15
074 S000400 0
074 T000400 57164
074 U010400 3057
074 U020400 0
074 V010400 18.70
074 V020400 0.00
074 W000400 0.0000
074 X000400 1072
074 Y000400 0
<PAGE> PAGE 22
075 A000400 0
075 B000400 53089
076 000400 0.00
083 A000400 N
083 B000400 0
084 A000400 N
084 B000400 0
085 A000400 Y
085 B000400 N
028 A010500 57
028 A020500 0
028 A030500 0
028 A040500 35
028 B010500 189
028 B020500 70
028 B030500 0
028 B040500 166
028 C010500 197
028 C020500 0
028 C030500 0
028 C040500 138
028 D010500 310
028 D020500 0
028 D030500 0
028 D040500 112
028 E010500 479
028 E020500 67
028 E030500 0
028 E040500 152
028 F010500 99
028 F020500 0
028 F030500 0
028 F040500 200
028 G010500 1331
028 G020500 137
028 G030500 0
028 G040500 803
028 H000500 0
034 000500 N
035 000500 0
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 N
041 000500 N
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.000
048 A010500 500000
<PAGE> PAGE 23
048 A020500 0.500
048 B010500 500000
048 B020500 0.450
048 C010500 0
048 C020500 0.400
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
055 A000500 N
055 B000500 N
056 000500 N
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 5000
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
066 A000500 Y
066 E000500 Y
067 000500 N
<PAGE> PAGE 24
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 Y
070 F020500 Y
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 Y
070 Q020500 Y
070 R010500 N
070 R020500 N
071 A000500 4982
071 B000500 4942
071 C000500 9147
071 D000500 54
072 A000500 12
072 B000500 194
072 C000500 202
072 D000500 0
072 E000500 0
072 F000500 67
072 G000500 0
072 H000500 0
<PAGE> PAGE 25
072 I000500 13
072 J000500 7
072 K000500 0
072 L000500 2
072 M000500 2
072 N000500 4
072 O000500 0
072 P000500 0
072 Q000500 7
072 R000500 0
072 S000500 8
072 T000500 0
072 U000500 5
072 V000500 0
072 W000500 0
072 X000500 115
072 Y000500 8
072 Z000500 289
072AA000500 414
072BB000500 0
072CC010500 1863
072CC020500 0
072DD010500 309
072DD020500 0
072EE000500 0
073 A010500 0.3285
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 14763
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 428
074 K000500 0
074 L000500 38
074 M000500 10
074 N000500 15239
074 O000500 1507
074 P000500 5
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 10
074 S000500 0
<PAGE> PAGE 26
074 T000500 13717
074 U010500 954
074 U020500 0
074 V010500 14.38
074 V020500 0.00
074 W000500 0.0000
074 X000500 647
074 Y000500 0
075 A000500 0
075 B000500 13424
076 000500 0.00
083 A000500 N
083 B000500 0
084 A000500 N
084 B000500 0
085 A000500 Y
085 B000500 N
028 A010600 527
028 A020600 0
028 A030600 0
028 A040600 556
028 B010600 278
028 B020600 16
028 B030600 0
028 B040600 363
028 C010600 221
028 C020600 0
028 C030600 0
028 C040600 68
028 D010600 582
028 D020600 0
028 D030600 0
028 D040600 176
028 E010600 1337
028 E020600 10
028 E030600 0
028 E040600 387
028 F010600 476
028 F020600 0
028 F030600 0
028 F040600 195
028 G010600 3421
028 G020600 26
028 G030600 0
028 G040600 1745
028 H000600 0
034 000600 N
035 000600 0
036 B000600 0
037 000600 N
038 000600 0
<PAGE> PAGE 27
039 000600 N
040 000600 N
041 000600 N
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.000
048 A010600 500000
048 A020600 0.500
048 B010600 500000
048 B020600 0.450
048 C010600 0
048 C020600 0.400
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
055 A000600 N
055 B000600 N
056 000600 N
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 5000
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
<PAGE> PAGE 28
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
066 A000600 Y
066 D000600 Y
067 000600 N
068 A000600 N
068 B000600 N
069 000600 Y
070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 Y
070 F020600 Y
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 Y
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 Y
070 Q020600 Y
070 R010600 N
070 R020600 N
071 A000600 2316
071 B000600 2124
071 C000600 8363
071 D000600 25
<PAGE> PAGE 29
072 A000600 12
072 B000600 56
072 C000600 72
072 D000600 0
072 E000600 0
072 F000600 47
072 G000600 0
072 H000600 0
072 I000600 15
072 J000600 11
072 K000600 0
072 L000600 2
072 M000600 2
072 N000600 4
072 O000600 0
072 P000600 0
072 Q000600 5
072 R000600 0
072 S000600 8
072 T000600 0
072 U000600 3
072 V000600 0
072 W000600 1
072 X000600 99
072 Y000600 38
072 Z000600 67
072AA000600 338
072BB000600 0
072CC010600 1484
072CC020600 0
072DD010600 67
072DD020600 0
072EE000600 110
073 A010600 0.0814
073 A020600 0.0000
073 B000600 0.1300
073 C000600 0.0000
074 A000600 0
074 B000600 0
074 C000600 0
074 D000600 0
074 E000600 0
074 F000600 10881
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 35
074 M000600 5
074 N000600 10921
<PAGE> PAGE 30
074 O000600 23
074 P000600 2
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 15
074 S000600 0
074 T000600 10881
074 U010600 949
074 U020600 0
074 V010600 11.46
074 V020600 0.00
074 W000600 0.0000
074 X000600 545
074 Y000600 0
075 A000600 0
075 B000600 9415
076 000600 0.00
083 A000600 N
083 B000600 0
084 A000600 N
084 B000600 0
085 A000600 Y
085 B000600 N
SIGNATURE STEVE ROGERS
TITLE FUND MANAGER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE FOLLOWING FDS HAS BEEN ROUNDED TO THE NEAREST THOUSAND
</LEGEND>
<CIK> 0000778205
<NAME> CALIFORNIA INVESTMENT TRUST II
<SERIES>
<NUMBER> 01
<NAME> US GOVERMENT SECURITIES FUND
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<EXCHANGE-RATE> 1.00
<INVESTMENTS-AT-COST> 31,288
<INVESTMENTS-AT-VALUE> 30,814
<RECEIVABLES> 194
<ASSETS-OTHER> 3
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 31,011
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 61
<TOTAL-LIABILITIES> 61
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 31,275
<SHARES-COMMON-STOCK> 3,024
<SHARES-COMMON-PRIOR> 3,192
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 149
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (474)
<NET-ASSETS> 30,950
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,006
<OTHER-INCOME> 0
<EXPENSES-NET> (225)
<NET-INVESTMENT-INCOME> 1,781
<REALIZED-GAINS-CURRENT> 452
<APPREC-INCREASE-CURRENT> (3,010)
<NET-CHANGE-FROM-OPS> (777)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,792)
<DISTRIBUTIONS-OF-GAINS> (836)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,156
<NUMBER-OF-SHARES-REDEEMED> (1,507)
<SHARES-REINVESTED> 183
<NET-CHANGE-IN-ASSETS> (5,113)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 174
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 229
<AVERAGE-NET-ASSETS> 34,832
<PER-SHARE-NAV-BEGIN> 11.300
<PER-SHARE-NII> 0.560
<PER-SHARE-GAIN-APPREC> (0.800)
<PER-SHARE-DIVIDEND> (0.560)
<PER-SHARE-DISTRIBUTIONS> (0.260)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.240
<EXPENSE-RATIO> 0.65
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE FOLLOWING FDS HAS BEEN ROUNDED TO THE NEAREST THOUSAND
</LEGEND>
<CIK> 0000778205
<NAME> CALIFORNIA INVESTMENT TRUST II
<SERIES>
<NUMBER> 02
<NAME> THE UNITED STATES TREASURY TRUST
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 45,481
<INVESTMENTS-AT-VALUE> 45,481
<RECEIVABLES> 4,951
<ASSETS-OTHER> 196
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 50,628
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 111
<TOTAL-LIABILITIES> 111
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50,531
<SHARES-COMMON-STOCK> 50,531
<SHARES-COMMON-PRIOR> 44,334
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (14)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 50,517
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,310
<OTHER-INCOME> 0
<EXPENSES-NET> (210)
<NET-INVESTMENT-INCOME> 2,100
<REALIZED-GAINS-CURRENT> (14)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,086
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,100)
<DISTRIBUTIONS-OF-GAINS> (7)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 202,307
<NUMBER-OF-SHARES-REDEEMED> (198,039)
<SHARES-REINVESTED> 1,930
<NET-CHANGE-IN-ASSETS> 6,176
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 254
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 320
<AVERAGE-NET-ASSETS> 50,709
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.042
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.042)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.41
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE FOLLOWING FDS HAS BEEN ROUNDED TO THE NEAREST THOUSAND
</LEGEND>
<CIK> 0000778205
<NAME> CALIFORNIA INVESTMENT TRUST II
<SERIES>
<NUMBER> 03
<NAME> S&P 500 INDEX FUND
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 90,239
<INVESTMENTS-AT-VALUE> 141,949
<RECEIVABLES> 446
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 142,395
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 119
<TOTAL-LIABILITIES> 119
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 84,415
<SHARES-COMMON-STOCK> 5,060
<SHARES-COMMON-PRIOR> 4,193
<ACCUMULATED-NII-CURRENT> 343
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,072
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 51,446
<NET-ASSETS> 142,276
<DIVIDEND-INCOME> 1,530
<INTEREST-INCOME> 606
<OTHER-INCOME> 0
<EXPENSES-NET> (251)
<NET-INVESTMENT-INCOME> 1,886
<REALIZED-GAINS-CURRENT> 7,378
<APPREC-INCREASE-CURRENT> 27,451
<NET-CHANGE-FROM-OPS> 36,715
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,829)
<DISTRIBUTIONS-OF-GAINS> (2,602)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,580
<NUMBER-OF-SHARES-REDEEMED> (880)
<SHARES-REINVESTED> 167
<NET-CHANGE-IN-ASSETS> 54,656
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 313
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 470
<AVERAGE-NET-ASSETS> 125,310
<PER-SHARE-NAV-BEGIN> 20.900
<PER-SHARE-NII> 0.390
<PER-SHARE-GAIN-APPREC> 7.790
<PER-SHARE-DIVIDEND> (0.390)
<PER-SHARE-DISTRIBUTIONS> (0.570)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 28.120
<EXPENSE-RATIO> 0.20
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE FOLLOWING FDS HAS BEEN ROUNDED TO THE NEAREST THOUSAND
</LEGEND>
<CIK> 0000778205
<NAME> CALIFORNIA INVESTMENT TRUST II
<SERIES>
<NUMBER> 04
<NAME> S&P MIDCAP INDEX FUND
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 50,412
<INVESTMENTS-AT-VALUE> 57,073
<RECEIVABLES> 118
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 57,191
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 27
<TOTAL-LIABILITIES> 27
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39,979
<SHARES-COMMON-STOCK> 3,058
<SHARES-COMMON-PRIOR> 2,586
<ACCUMULATED-NII-CURRENT> 20
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 10,695
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,470
<NET-ASSETS> 57,164
<DIVIDEND-INCOME> 610
<INTEREST-INCOME> 172
<OTHER-INCOME> 0
<EXPENSES-NET> (212)
<NET-INVESTMENT-INCOME> 570
<REALIZED-GAINS-CURRENT> 12,701
<APPREC-INCREASE-CURRENT> 3,066
<NET-CHANGE-FROM-OPS> 16,337
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (570)
<DISTRIBUTIONS-OF-GAINS> (6,721)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 654
<NUMBER-OF-SHARES-REDEEMED> (588)
<SHARES-REINVESTED> 405
<NET-CHANGE-IN-ASSETS> 17,309
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 212
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 301
<AVERAGE-NET-ASSETS> 53,089
<PER-SHARE-NAV-BEGIN> 15.410
<PER-SHARE-NII> 0.200
<PER-SHARE-GAIN-APPREC> 5.800
<PER-SHARE-DIVIDEND> (0.200)
<PER-SHARE-DISTRIBUTIONS> (2.510)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 18.700
<EXPENSE-RATIO> 0.40
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE FOLLOWING FDS HAS BEEN ROUNDED TO THE NEAREST THOUSAND
</LEGEND>
<CIK> 0000778205
<NAME> CALIFORNIA INVESTMENT TRUST II
<SERIES>
<NUMBER> 05
<NAME> S&P EQUITY INCOME FUND
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 13,140
<INVESTMENTS-AT-VALUE> 14,763
<RECEIVABLES> 466
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 15,239
<PAYABLE-FOR-SECURITIES> 1,507
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 16
<TOTAL-LIABILITIES> 1,523
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,697
<SHARES-COMMON-STOCK> 954
<SHARES-COMMON-PRIOR> 1,009
<ACCUMULATED-NII-CURRENT> 15
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 481
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,523
<NET-ASSETS> 13,716
<DIVIDEND-INCOME> 202
<INTEREST-INCOME> 194
<OTHER-INCOME> 0
<EXPENSES-NET> (107)
<NET-INVESTMENT-INCOME> 289
<REALIZED-GAINS-CURRENT> 414
<APPREC-INCREASE-CURRENT> 1,863
<NET-CHANGE-FROM-OPS> 2,566
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (309)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 219
<NUMBER-OF-SHARES-REDEEMED> (296)
<SHARES-REINVESTED> 22
<NET-CHANGE-IN-ASSETS> 1,636
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 67
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 115
<AVERAGE-NET-ASSETS> 13,424
<PER-SHARE-NAV-BEGIN> 11.980
<PER-SHARE-NII> 0.321
<PER-SHARE-GAIN-APPREC> 2.410
<PER-SHARE-DIVIDEND> (0.321)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 14.380
<EXPENSE-RATIO> 0.80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE FOLLOWING FDS HAS BEEN ROUNDED TO THE NEAREST THOUSAND
</LEGEND>
<CIK> 0000778205
<NAME> CALIFORNIA INVESTMENT TRUST II
<SERIES>
<NUMBER> 06
<NAME> S&P SMALLCAP INDEX FUND
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<EXCHANGE-RATE> 1.00
<INVESTMENTS-AT-COST> 11,381
<INVESTMENTS-AT-VALUE> 10,881
<RECEIVABLES> 35
<ASSETS-OTHER> 5
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,921
<PAYABLE-FOR-SECURITIES> 23
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17
<TOTAL-LIABILITIES> 40
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10,999
<SHARES-COMMON-STOCK> 949
<SHARES-COMMON-PRIOR> 837
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 513
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (631)
<NET-ASSETS> 10,881
<DIVIDEND-INCOME> 72
<INTEREST-INCOME> 56
<OTHER-INCOME> 0
<EXPENSES-NET> (61)
<NET-INVESTMENT-INCOME> 67
<REALIZED-GAINS-CURRENT> 338
<APPREC-INCREASE-CURRENT> 1,484
<NET-CHANGE-FROM-OPS> 1,889
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (67)
<DISTRIBUTIONS-OF-GAINS> (110)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 821
<NUMBER-OF-SHARES-REDEEMED> (724)
<SHARES-REINVESTED> 16
<NET-CHANGE-IN-ASSETS> 2,965
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 47
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 99
<AVERAGE-NET-ASSETS> 9,415
<PER-SHARE-NAV-BEGIN> 9.460
<PER-SHARE-NII> 0.080
<PER-SHARE-GAIN-APPREC> 2.130
<PER-SHARE-DIVIDEND> (0.080)
<PER-SHARE-DISTRIBUTIONS> (0.130)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.460
<EXPENSE-RATIO> 0.65
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE
Board of Trustees
California Investment II
San Francisco, California
In planning and performing our audits of the financial statements of U.S.
Government Securities Fund, United States Treasury Trust, S & P 500 Index Fund,
S&P Small Cap Index Fund, Equity Income Fund and S & P MidCap Index Fund, each a
series of shares of beneficial interest of California Investment Trust II (the
"Funds"), for the year ended August 31, 1999, we considered its internal control
structure, including procedures for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on the internal control structure.
The management of the Funds is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition, and that transactions are executed in
accordance with management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses, as defined above, as of
August 31, 1999.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission, and should not be used for any other
purpose.
TAIT, WELLER & BAKER
Philadelphia, Pennsylvania
October 1, 1999
