iShares California Muni Bond ETF
318 hedge funds and large institutions have $2.7B invested in iShares California Muni Bond ETF in 2025 Q2 according to their latest regulatory filings, with 37 funds opening new positions, 115 increasing their positions, 115 reducing their positions, and 23 closing their positions.
61% more first-time investments, than exits
New positions opened: 37 | Existing positions closed: 23
4% more funds holding
Funds holding: 307 → 318 (+11)
0% more repeat investments, than reductions
Existing positions increased: 115 | Existing positions reduced: 115
3.25% less ownership
Funds ownership: 78.66% → 75.42% (-3.2%)
9% less capital invested
Capital invested by funds: $2.96B → $2.7B (-$260M)
20% less funds holding in top 10
Funds holding in top 10: 20 → 16 (-4)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
+$42.2M |
| 2 |
FWI
Facet Wealth Inc
Baltimore,
Maryland
|
+$13.8M |
| 3 |
B
Bailard
Foster City,
California
|
+$10.7M |
| 4 |
TIAA Trust, National Association
Charlotte,
North Carolina
|
+$9.75M |
| 5 |
ALA
Atlas Legacy Advisors
Los Angeles,
California
|
+$9.26M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Charles Schwab
San Francisco,
California
|
-$141M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
-$135M |
| 3 |
RBCM
Raub Brock Capital Management
Larkspur,
California
|
-$23.2M |
| 4 |
Wealthfront Advisers
Palo Alto,
California
|
-$16.9M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$12.7M |
CMF Hedge Fund Activity: Q2 2025 in Review
318 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in iShares California Muni Bond ETF (CMF) for Q2 2025, worth a combined $2.7B — down 8.8% from $2.96B a quarter earlier.
Buyers outnumbered sellers: 37 funds opened new CMF positions and 23 closed out — a net gain of 14 holders — while 115 added to existing stakes and 115 trimmed.
The largest buyer was Jane Street, adding an estimated $42.2M. The largest seller was Charles Schwab, cutting an estimated $141M.
- 318 institutional investors held iShares California Muni Bond ETF (CMF) as of Q2 2025, up from 307 in Q1 2025.
- Funds reported $2.7B of iShares California Muni Bond ETF stock for Q2 2025, down 8.8% quarter-over-quarter.
- 37 funds opened new iShares California Muni Bond ETF positions in Q2 2025 and 23 closed out, a net change of +14 holders.
- The largest iShares California Muni Bond ETF buyer in Q2 2025 was Jane Street, an estimated $42.2M added.
- The largest iShares California Muni Bond ETF seller in Q2 2025 was Charles Schwab, an estimated $141M sold.
Based on aggregated 13F filings for Q2 2025.