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      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
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          <ccc>XXXXXXXX</ccc>
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        <confirmingCopyFlag>false</confirmingCopyFlag>
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    <registrantInfo>
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      <investmentCompFileNo>811-23782</investmentCompFileNo>
      <registrantCik>0000803016</registrantCik>
      <registrantLei>894500AUBHBFB3137873</registrantLei>
      <registrantstreet1>5000 Birch Street</registrantstreet1>
      <registrantstreet2>Suite 500</registrantstreet2>
      <registrantcity>Newport Beach</registrantcity>
      <registrantzipCode>92660-8142</registrantzipCode>
      <registrantstate>US-CA</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>9492550500</registrantphoneNumber>
      <websites>
        <website webpage="www.calfirstlease.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>California First Leasing Corporation</officeName>
          <officeAddress1>5000 Birch Street</officeAddress1>
          <officeAddress2>Suite 500</officeAddress2>
          <officeCity>Newport Beach</officeCity>
          <officeStateCountry officeState="US-CA" officeCountry="US"/>
          <officeRecordsZipCode>92660-8142</officeRecordsZipCode>
          <officePhone>9492550500</officePhone>
          <booksRecordsDesc>Accounting records including general ledger, trade, investment and cash ledgers, and reconciliations; lease and loan files, documentation and other custody records.</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Computershare</officeName>
          <officeAddress1>150 Royall Street</officeAddress1>
          <officeAddress2>Suite 101</officeAddress2>
          <officeCity>Canton</officeCity>
          <officeStateCountry officeState="US-ME" officeCountry="US"/>
          <officeRecordsZipCode>02021</officeRecordsZipCode>
          <officePhone>8885240690</officePhone>
          <booksRecordsDesc>Accounts for stockholders of record, transfers of shares and dividend disbursements.</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Wells Fargo Clearing Services, LLC</officeName>
          <officeAddress1>One North Jefferson Avenue</officeAddress1>
          <officeCity>St. Louis</officeCity>
          <officeStateCountry officeState="US-MO" officeCountry="US"/>
          <officeRecordsZipCode>63103</officeRecordsZipCode>
          <officePhone>6317735400</officePhone>
          <booksRecordsDesc>Custody of securities: record of security holdings, purchases, sales income distributions and adjustments.</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
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      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <isRegistrantFamilyInvComp>N</isRegistrantFamilyInvComp>
      <registrantClassificationType>N-2</registrantClassificationType>
      <isSecuritiesActRegistration>N</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Patrick E. Paddon</directorName>
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        <director>
          <directorName>Glen T. Tsuma</directorName>
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          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
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            <fileNumberInfo fileNumber="N/A"/>
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        <director>
          <directorName>Michael H. Lowry</directorName>
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            <fileNumberInfo fileNumber="N/A"/>
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        </director>
        <director>
          <directorName>Danilo Cacciamatta</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
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        </director>
        <director>
          <directorName>Roberty W. Kelley</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
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        </director>
        <director>
          <directorName>Sarah J. Paddon</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>S. Leslie Jewett</ccoName>
          <crdNumber>N/A</crdNumber>
          <ccoStreet1>5000 Birch Street</ccoStreet1>
          <ccoStreet2>Suite 500</ccoStreet2>
          <ccoCity>Newport Beach</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-CA"/>
          <ccoZipCode>92660-8142</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerId="N/A" ccoEmployerName="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>Eide Bailly LLC</publicAccountantName>
          <pcaobNumber>286</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantState="US-SD" publicAccountantCountry="US"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentDividend>N</isPaymentDividend>
    </registrantInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>Common Stock</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="OTCQ" commonStockTickerSymbol="CFNB"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <isRepurchaseSecurity>N</isRepurchaseSecurity>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>0.0</managementFee>
      <netOperatingExpenses>0.06</netOperatingExpenses>
      <marketPricePerShare>1515</marketPricePerShare>
      <netAssetValuePerShare>2410.37</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
      <isMaterialAmendments>true</isMaterialAmendments>
      <isInstDefiningRights>false</isInstDefiningRights>
      <isNewOrAmendedInvAdvContracts>false</isNewOrAmendedInvAdvContracts>
      <isInfoItem405>false</isInfoItem405>
      <isCodeOfEthics>false</isCodeOfEthics>
    </attachmentsTab>
    <signature registrantSignedName="CALIFORNIA FIRST LEASING CORP" signature="S. LEslie Jewett" signedDate="2026-09-10" title="CFO"/>
  </formData>
</edgarSubmission>
