First Trust California Municipal High income ETF
FCAL
77 hedge funds and large institutions have $138M invested in First Trust California Municipal High income ETF in 2026 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 25 increasing their positions, 29 reducing their positions, and 7 closing their positions.
29% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 7
0% less capital invested
Capital invested by funds: $138M → $138M (-$1.58K)
1% less funds holding
Funds holding: 78 → 77 (-1)
6.56% less ownership
Funds ownership: 73.17% → 66.61% (-6.6%)
14% less repeat investments, than reductions
Existing positions increased: 25 | Existing positions reduced: 29
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CBB
Citizens Business Bank
Ontario,
California
|
+$5.89M |
| 2 |
LPL Financial
San Diego,
California
|
+$3.44M |
| 3 |
Mariner
Overland Park,
Kansas
|
+$2.02M |
| 4 |
Cerity Partners
New York
|
+$1.8M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$1.75M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NA
NewEdge Advisors
New Orleans,
Louisiana
|
-$15.2M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$2.77M |
| 3 |
Rockefeller Capital Management
New York
|
-$2.12M |
| 4 |
Jane Street
New York
|
-$2.1M |
| 5 |
Envestnet Portfolio Solutions
Chicago,
Illinois
|
-$736K |
FCAL Hedge Fund Activity: Q1 2026 in Review
77 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in First Trust California Municipal High income ETF (FCAL) for Q1 2026, worth a combined $138M — down 0% from $138M a quarter earlier.
Buyers outnumbered sellers: 9 funds opened new FCAL positions and 7 closed out — a net gain of 2 holders — while 25 added to existing stakes and 29 trimmed.
The largest buyer was Citizens Business Bank, opening a new position worth an estimated $5.89M. The largest seller was NewEdge Advisors, cutting an estimated $15.2M.
- 77 institutional investors held First Trust California Municipal High income ETF (FCAL) as of Q1 2026, down from 78 in Q4 2025.
- Funds reported $138M of First Trust California Municipal High income ETF stock for Q1 2026, down 0% quarter-over-quarter.
- 9 funds opened new First Trust California Municipal High income ETF positions in Q1 2026 and 7 closed out, a net change of +2 holders.
- The largest First Trust California Municipal High income ETF buyer in Q1 2026 was Citizens Business Bank, an estimated $5.89M added.
- The largest First Trust California Municipal High income ETF seller in Q1 2026 was NewEdge Advisors, an estimated $15.2M sold.
Based on aggregated 13F filings for Q1 2026.