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iShares California Muni Bond ETF
CMF

115 hedge funds and large institutions have $496M invested in iShares California Muni Bond ETF in 2018 Q2 according to their latest regulatory filings, with 9 funds opening new positions, 42 increasing their positions, 34 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 6

39% more capital invested

Capital invested by funds: $356M → $496M (+$140M)

24% more repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 34

8.2% more ownership

Funds ownership: 39.24% → 47.44% (+8.2%)

3% more funds holding

Funds holding: 112 → 115 (+3)

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

Holders
115
Holders Change
+3
Holders Change %
+2.68%
% of All Funds
2.63%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.05%
New
9
Increased
42
Reduced
34
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
CSIA
Charles Schwab Investment Advisory
California
+$123M
2
Morgan Stanley
Morgan Stanley
New York
+$16.5M
3
MMA
Miracle Mile Advisors
California
+$4.71M
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$2.55M
5
KCM
Karp Capital Management
California
+$2.31M

Top Sellers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
-$10.3M
2
MWM
Mission Wealth Management
California
-$6.43M
3
Wells Fargo
Wells Fargo
California
-$2.1M
4
OA
Opes Advisors
California
-$1.52M
5
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$1.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
Commonwealth Equity Services
26
Commonwealth Equity Services
Massachusetts
$2.25M +$136K +2,334 +6%
Cambridge Investment Research Advisors
27
Cambridge Investment Research Advisors
Iowa
$2.19M +$251K +4,317 +13%
PWM
28
Perigon Wealth Management
California
$2.18M +$2.03M +34,933 +1,546%
EWF
29
Epstein & White Financial
California
$1.78M +$1.13M +19,427 +176%
Bank of New York Mellon
30
Bank of New York Mellon
New York
$1.71M +$1.37M +23,568 +420%
TW
31
Towerpoint Wealth
California
$1.67M +$441K +7,580 +36%
FAIM
32
Financial Advocates Investment Management
Washington
$1.57M +$14.4K +247 +0.9%
GC
33
Garde Capital
Washington
$1.56M +$63.6K +1,092 +4%
EAM
34
Evanson Asset Management
California
$1.48M +$1.47M +25,229 New
LNC
35
Lincoln National Corp
Pennsylvania
$1.31M -$51.2K -880 -4%
BOTW
36
Bank of the West
California
$1.31M +$1.3M +22,338 New
Goldman Sachs
37
Goldman Sachs
New York
$1.26M +$1.25M +21,482 New
AWS
38
AJ Wealth Strategies
New York
$1.16M +$83.4K +1,432 +8%
HWA
39
HCR Wealth Advisors
California
$1.07M – – –
BPC
40
Banque Pictet & Cie
Switzerland
$1.01M +$17.5K +300 +2%
PNAA
41
Pictet North America Advisors
Switzerland
$1.01M +$17.5K +300 +2%
KWA
42
KCS Wealth Advisory
California
$958K -$230K -3,945 -19%
BlackRock
43
BlackRock
New York
$887K -$2.85K -49 -0.3%
LFASL
44
Lugano Financial Advisors SA (LFA)
Switzerland
$870K +$871K +14,960 New
CCP
45
Corient Capital Partners
California
$822K +$128K +2,200 +19%
Citigroup
46
Citigroup
New York
$784K -$32.6K -560 -4%
MA
47
MUFG Americas
New York
$778K -$4.78K -82 -0.6%
LTFS
48
Ladenburg Thalmann Financial Services
Florida
$676K – – –
WT
49
Whittier Trust
California
$640K – – –
WA
50
Winfield Associates
Ohio
$637K – – –
1
2
3 4 5

CMF Hedge Fund Activity: Q2 2018 in Review

115 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in iShares California Muni Bond ETF (CMF) for Q2 2018, worth a combined $496M — up 39% from $356M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new CMF positions and 6 closed out — a net gain of 3 holders — while 42 added to existing stakes and 34 trimmed.

The largest buyer was Charles Schwab Investment Advisory, adding an estimated $123M. The largest seller was Bank of America, cutting an estimated $10.3M.

  • 115 institutional investors held iShares California Muni Bond ETF (CMF) as of Q2 2018, up from 112 in Q1 2018.
  • Funds reported $496M of iShares California Muni Bond ETF stock for Q2 2018, up 39% quarter-over-quarter.
  • 9 funds opened new iShares California Muni Bond ETF positions in Q2 2018 and 6 closed out, a net change of +3 holders.
  • The largest iShares California Muni Bond ETF buyer in Q2 2018 was Charles Schwab Investment Advisory, an estimated $123M added.
  • The largest iShares California Muni Bond ETF seller in Q2 2018 was Bank of America, an estimated $10.3M sold.

Based on aggregated 13F filings for Q2 2018.