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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.

New
Increased
Maintained
Reduced
Closed

61% more first-time investments, than exits

New positions opened: 37 | Existing positions closed: 23

4% more funds holding

Funds holding: 307318 (+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: 2016 (-4)

Holders
318
Holders Change
+11
Holders Change %
+3.58%
% of All Funds
4.19%
Holding in Top 10
16
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-20%
% of All Funds
0.21%
New
37
Increased
115
Reduced
115
Closed
23
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
Wealthfront Advisers
1
Wealthfront Advisers
California
$482M -$16.9M -303,682 -3%
Charles Schwab
2
Charles Schwab
California
$430M -$141M -2,543,050 -25%
Fidelity Investments
3
Fidelity Investments
Massachusetts
$134M -$135M -2,429,846 -50%
Jane Street
4
Jane Street
New York
$99.9M +$42.2M +760,870 +74%
Morgan Stanley
5
Morgan Stanley
New York
$99M -$2.63M -47,302 -3%
B
6
Bailard
California
$75M +$10.7M +192,697 +17%
FWI
7
Facet Wealth Inc
Maryland
$70.9M +$13.8M +247,805 +24%
SC
8
Syon Capital
California
$67.2M -$7.79M -140,364 -10%
EWA
9
EP Wealth Advisors
California
$66.6M -$4.41M -79,480 -6%
Bank of America
10
Bank of America
North Carolina
$65.3M -$6.72M -121,116 -9%
LPL Financial
11
LPL Financial
California
$47M +$2.37M +42,734 +5%
Mariner
12
Mariner
Kansas
$46.1M -$1.26M -22,685 -3%
TIAA Trust, National Association
13
TIAA Trust, National Association
North Carolina
$40.8M +$9.75M +175,539 +32%
UBS Group
14
UBS Group
Switzerland
$32.2M -$7.98M -143,789 -20%
FFA
15
First Foundation Advisors
California
$29.1M -$330K -5,944 -1%
Envestnet Asset Management
16
Envestnet Asset Management
Illinois
$29M +$2.79M +50,276 +11%
JP Morgan Chase
17
JP Morgan Chase
New York
$28.9M +$1.48M +26,680 +5%
Wells Fargo
18
Wells Fargo
California
$26.2M +$974K +17,545 +4%
Royal Bank of Canada
19
Royal Bank of Canada
Ontario, Canada
$22.6M -$1.69M -30,389 -7%
AssetMark Inc
20
AssetMark Inc
California
$21.6M +$1.58M +28,374 +8%
OWM
21
Opes Wealth Management
California
$21.6M +$1.32M +23,802 +7%
Mercer Global Advisors
22
Mercer Global Advisors
Colorado
$21.3M +$4.07M +73,371 +24%
RWP
23
RWA Wealth Partners
Massachusetts
$19.2M -$367K -6,609 -2%
CAPTRUST Financial Advisors
24
CAPTRUST Financial Advisors
North Carolina
$19.1M +$7.62M +137,264 +67%
OGF
25
Orin Green Financial
California
$19.1M -$1.33M -23,889 -7%

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.