Goldman Sachs Dynamic California Municipal Income ETF
GCAL
36 hedge funds and large institutions have $156M invested in Goldman Sachs Dynamic California Municipal Income ETF in 2026 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 13 increasing their positions, 6 reducing their positions, and 5 closing their positions.
160% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 5
117% more repeat investments, than reductions
Existing positions increased: 13 | Existing positions reduced: 6
24% more funds holding
Funds holding: 29 → 36 (+7)
1% more capital invested
Capital invested by funds: $154M → $156M (+$2.04M)
8.41% less ownership
Funds ownership: 98.18% → 89.76% (-8.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
+$3.73M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$2.55M |
| 3 |
Cerity Partners
New York
|
+$1.55M |
| 4 |
FAT
First American Trust
Santa Ana,
California
|
+$1.4M |
| 5 |
Goldman Sachs
New York
|
+$1.18M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EC
Elequin Capital
New York
|
-$7.54M |
| 2 |
FTUS
Flow Traders U.S.
New York
|
-$4.44M |
| 3 |
MASUI
MIRAE ASSET SECURITIES (USA) INC.
New York
|
-$3.8M |
| 4 |
DWM
Ducere Wealth Management
Newport Beach,
California
|
-$731K |
| 5 |
MMA
Miracle Mile Advisors
Los Angeles,
California
|
-$397K |
GCAL Hedge Fund Activity: Q2 2026 in Review
36 of the 8,318 institutional investors tracked by Wall St. Rank reported a position in Goldman Sachs Dynamic California Municipal Income ETF (GCAL) for Q2 2026, worth a combined $156M — up 1.3% from $154M a quarter earlier.
Buyers outnumbered sellers: 13 funds opened new GCAL positions and 5 closed out — a net gain of 8 holders — while 13 added to existing stakes and 6 trimmed.
The largest buyer was LPL Financial, opening a new position worth an estimated $3.73M. The largest seller was Elequin Capital, cutting an estimated $7.54M.
- 36 institutional investors held Goldman Sachs Dynamic California Municipal Income ETF (GCAL) as of Q2 2026, up from 29 in Q1 2026.
- Funds reported $156M of Goldman Sachs Dynamic California Municipal Income ETF stock for Q2 2026, up 1.3% quarter-over-quarter.
- 13 funds opened new Goldman Sachs Dynamic California Municipal Income ETF positions in Q2 2026 and 5 closed out, a net change of +8 holders.
- The largest Goldman Sachs Dynamic California Municipal Income ETF buyer in Q2 2026 was LPL Financial, an estimated $3.73M added.
- The largest Goldman Sachs Dynamic California Municipal Income ETF seller in Q2 2026 was Elequin Capital, an estimated $7.54M sold.
Based on aggregated 13F filings for Q2 2026.