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iShares California Muni Bond ETF
CMF

162 hedge funds and large institutions have $727M invested in iShares California Muni Bond ETF in 2020 Q1 according to their latest regulatory filings, with 19 funds opening new positions, 52 increasing their positions, 58 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more funds holding in top 10

Funds holding in top 10: 8 → 10 (+2)

6% more first-time investments, than exits

New positions opened: 19 | Existing positions closed: 18

1.02% less ownership

Funds ownership: 55.68% → 54.66% (-1%)

2% less funds holding

Funds holding: 165 → 162 (-3)

10% less capital invested

Capital invested by funds: $805M → $727M (-$77.6M)

10% less repeat investments, than reductions

Existing positions increased: 52 | Existing positions reduced: 58

Holders
162
Holders Change
-3
Holders Change %
-1.82%
% of All Funds
3.57%
Holding in Top 10
10
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+25%
% of All Funds
0.22%
New
19
Increased
52
Reduced
58
Closed
18
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$44M
2
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
+$16.9M
3
EWF
Epstein & White Financial
California
+$10.6M
4
Goldman Sachs
Goldman Sachs
New York
+$9.74M
5
Citadel Advisors
Citadel Advisors
Florida
+$6.27M

Top Sellers

Rank Fund Capital Flow
1
CSIA
Charles Schwab Investment Advisory
California
-$117M
2
MMA
Miracle Mile Advisors
California
-$11.7M
3
UBS Group
UBS Group
Switzerland
-$10.9M
4
Principal Financial Group
Principal Financial Group
Iowa
-$6.19M
5
Jane Street
Jane Street
New York
-$2.75M
Name Holding Trade Value Shares
Change 		Change in
Stake
Fisher Asset Management
76
Fisher Asset Management
Washington
$734K +$7.9K +129 +1%
HighTower Advisors
77
HighTower Advisors
Illinois
$711K +$73.5K +1,201 +11%
Mercer Global Advisors
78
Mercer Global Advisors
Colorado
$691K -$6.67K -109 -0.9%
AC
79
Apella Capital
Connecticut
$678K +$686K +11,205 New
WA
80
Winfield Associates
Ohio
$669K +$27.5K +450 +4%
WT
81
Whittier Trust
California
$662K – – –
Susquehanna International Group
82
Susquehanna International Group
Pennsylvania
$654K +$662K +10,814 New
EWM
83
Empirical Wealth Management
Washington
$644K +$87.8K +1,435 +16%
RJFSA
84
Raymond James Financial Services Advisors
Florida
$643K -$200K -3,267 -24%
FAAS
85
First Allied Advisory Services
California
$630K – – –
PAS
86
Partnervest Advisory Services
California
$596K +$111K +1,820 +23%
FC
87
FCA Corp
Texas
$584K – – –
WCG
88
Weaver Consulting Group
California
$571K +$7.96K +130 +1%
AAS
89
Avantax Advisory Services
Texas
$567K – – –
PCTC
90
Perkins Coie Trust Company
Washington
$545K – – –
LGWM
91
Litman Gregory Wealth Management
California
$535K -$518K -8,465 -49%
WS
92
Wedbush Securities
California
$527K -$61.2K -1,000 -10%
EHPM
93
Emery Howard Portfolio Management
California
$521K +$1.71K +28 +0.3%
CAPTRUST Financial Advisors
94
CAPTRUST Financial Advisors
North Carolina
$493K +$3.79K +62 +0.8%
PIA
95
Perennial Investment Advisors
California
$492K – – –
CPSC
96
Carl P. Sherr & Co
Massachusetts
$471K +$61.2K +1,000 +15%
FCA
97
FLC Capital Advisors
California
$440K -$159K -2,600 -26%
SRC
98
Shufro Rose & Co
New York
$437K +$442K +7,216 New
RFA
99
Reilly Financial Advisors
California
$435K -$52.3K -854 -11%
BJL
100
Brighton Jones LLC
Washington
$415K – – –
2 3
4
5 6

CMF Hedge Fund Activity: Q1 2020 in Review

162 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in iShares California Muni Bond ETF (CMF) for Q1 2020, worth a combined $727M — down 9.6% from $805M a quarter earlier.

Buyers outnumbered sellers: 19 funds opened new CMF positions and 18 closed out — a net gain of 1 holder — while 52 added to existing stakes and 58 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $44M. The largest seller was Charles Schwab Investment Advisory, cutting an estimated $117M.

  • 162 institutional investors held iShares California Muni Bond ETF (CMF) as of Q1 2020, down from 165 in Q4 2019.
  • Funds reported $727M of iShares California Muni Bond ETF stock for Q1 2020, down 9.6% quarter-over-quarter.
  • 19 funds opened new iShares California Muni Bond ETF positions in Q1 2020 and 18 closed out, a net change of +1 holder.
  • The largest iShares California Muni Bond ETF buyer in Q1 2020 was Morgan Stanley, an estimated $44M added.
  • The largest iShares California Muni Bond ETF seller in Q1 2020 was Charles Schwab Investment Advisory, an estimated $117M sold.

Based on aggregated 13F filings for Q1 2020.