Goldman Sachs Dynamic California Municipal Income ETF
GCAL
17 hedge funds and large institutions have $109M invested in Goldman Sachs Dynamic California Municipal Income ETF in 2025 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 6 increasing their positions, 3 reducing their positions, and 1 closing their positions.
700% more first-time investments, than exits
New positions opened: 8 | Existing positions closed: 1
608% more capital invested
Capital invested by funds: $15.4M → $109M (+$93.8M)
100% more repeat investments, than reductions
Existing positions increased: 6 | Existing positions reduced: 3
80.15% more ownership
Funds ownership: 13.5% → 93.65% (+80%)
70% more funds holding
Funds holding: 10 → 17 (+7)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MMA
Miracle Mile Advisors
Los Angeles,
California
|
+$80.2M |
| 2 |
FTUS
Flow Traders U.S.
New York
|
+$5.84M |
| 3 |
FAT
First American Trust
Santa Ana,
California
|
+$2.56M |
| 4 |
Cerity Partners
New York
|
+$2.52M |
| 5 |
JP Morgan Chase
New York
|
+$1.79M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
-$2.9M |
| 2 |
Jane Street
New York
|
-$202K |
| 3 |
Mariner
Overland Park,
Kansas
|
-$55.9K |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$34.4K |
GCAL Hedge Fund Activity: Q3 2025 in Review
17 of the 7,641 institutional investors tracked by Wall St. Rank reported a position in Goldman Sachs Dynamic California Municipal Income ETF (GCAL) for Q3 2025, worth a combined $109M — up 608% from $15.4M a quarter earlier.
Buyers outnumbered sellers: 8 funds opened new GCAL positions and 1 closed out — a net gain of 7 holders — while 6 added to existing stakes and 3 trimmed.
The largest buyer was Miracle Mile Advisors, opening a new position worth an estimated $80.2M. The largest seller was Goldman Sachs, cutting an estimated $2.9M.
- 17 institutional investors held Goldman Sachs Dynamic California Municipal Income ETF (GCAL) as of Q3 2025, up from 10 in Q2 2025.
- Funds reported $109M of Goldman Sachs Dynamic California Municipal Income ETF stock for Q3 2025, up 608% quarter-over-quarter.
- 8 funds opened new Goldman Sachs Dynamic California Municipal Income ETF positions in Q3 2025 and 1 closed out, a net change of +7 holders.
- The largest Goldman Sachs Dynamic California Municipal Income ETF buyer in Q3 2025 was Miracle Mile Advisors, an estimated $80.2M added.
- The largest Goldman Sachs Dynamic California Municipal Income ETF seller in Q3 2025 was Goldman Sachs, an estimated $2.9M sold.
Based on aggregated 13F filings for Q3 2025.