BlackRock CA Municipal Income Trust
BFZ
BFZ was delisted on the 6th of February, 2026.
69 hedge funds and large institutions have $91.2M invested in BlackRock CA Municipal Income Trust in 2025 Q4 according to their latest regulatory filings, with 18 funds opening new positions, 20 increasing their positions, 14 reducing their positions, and 8 closing their positions.
125% more first-time investments, than exits
New positions opened: 18 | Existing positions closed: 8
43% more repeat investments, than reductions
Existing positions increased: 20 | Existing positions reduced: 14
13% more funds holding
Funds holding: 61 → 69 (+8)
6% more capital invested
Capital invested by funds: $86.3M → $91.2M (+$4.89M)
2.02% more ownership
Funds ownership: 26.23% → 28.25% (+2%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$7.08M |
| 2 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$6.05M |
| 3 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$3.11M |
| 4 |
Fiera Capital (Canada)
Montreal,
Quebec, Canada
|
+$2.92M |
| 5 |
Allspring Global Investments
Charlotte,
North Carolina
|
+$1.82M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$16M |
| 2 |
AAM
Advisors Asset Management
Monument,
Colorado
|
-$1.39M |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$1.31M |
| 4 |
Balyasny Asset Management
Chicago,
Illinois
|
-$561K |
| 5 |
GRP
Global Retirement Partners
San Rafael,
California
|
-$317K |
BFZ Hedge Fund Activity: Q4 2025 in Review
69 of the 8,248 institutional investors tracked by Wall St. Rank reported a position in BlackRock CA Municipal Income Trust (BFZ) for Q4 2025, worth a combined $91.2M — up 5.7% from $86.3M a quarter earlier.
Buyers outnumbered sellers: 18 funds opened new BFZ positions and 8 closed out — a net gain of 10 holders — while 20 added to existing stakes and 14 trimmed.
The largest buyer was Rivernorth Capital Management, adding an estimated $7.08M. The largest seller was Saba Capital Management, cutting an estimated $16M.
- 69 institutional investors held BlackRock CA Municipal Income Trust (BFZ) as of Q4 2025, up from 61 in Q3 2025.
- Funds reported $91.2M of BlackRock CA Municipal Income Trust stock for Q4 2025, up 5.7% quarter-over-quarter.
- 18 funds opened new BlackRock CA Municipal Income Trust positions in Q4 2025 and 8 closed out, a net change of +10 holders.
- The largest BlackRock CA Municipal Income Trust buyer in Q4 2025 was Rivernorth Capital Management, an estimated $7.08M added.
- The largest BlackRock CA Municipal Income Trust seller in Q4 2025 was Saba Capital Management, an estimated $16M sold.
Based on aggregated 13F filings for Q4 2025.