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Nuveen California Quality Municipal Income Fund
NAC

84 hedge funds and large institutions have $179M invested in Nuveen California Quality Municipal Income Fund in 2019 Q1 according to their latest regulatory filings, with 14 funds opening new positions, 28 increasing their positions, 23 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

22% more repeat investments, than reductions

Existing positions increased: 28 | Existing positions reduced: 23

0% more funds holding in top 10

Funds holding in top 10: 3 → 3 (0)

1.44% less ownership

Funds ownership: 10.33% → 8.89% (-1.4%)

6% less capital invested

Capital invested by funds: $191M → $179M (-$12.1M)

7% less funds holding

Funds holding: 90 → 84 (-6)

26% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 19

Holders
84
Holders Change
-6
Holders Change %
-6.67%
% of All Funds
1.82%
Holding in Top 10
3
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.06%
New
14
Increased
28
Reduced
23
Closed
19
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
+$2.71M
2
FFA
First Foundation Advisors
California
+$2.38M
3
RJFSA
Raymond James Financial Services Advisors
Florida
+$964K
4
RCM
Robinson Capital Management
Michigan
+$665K
5
PWP
Private Wealth Partners
California
+$550K

Top Sellers

Rank Fund Capital Flow
1
BPCM
Beach Point Capital Management
California
-$16.3M
2
SCM
Saba Capital Management
New York
-$4.26M
3
RCM
Rivernorth Capital Management
Florida
-$3.66M
4
CRC
Curi RMB Capital
Illinois
-$2.37M
5
WAM
Weiss Asset Management
Massachusetts
-$2.04M
Name Holding Trade Value Shares
Change 		Change in
Stake
FAAS
26
First Allied Advisory Services
California
$941K +$4.94K +371 +0.5%
Commonwealth Equity Services
27
Commonwealth Equity Services
Massachusetts
$913K -$52.4K -3,935 -6%
RJA
28
Raymond James & Associates
Florida
$857K +$1.1K +83 +0.1%
AIC
29
Ameritas Investment Company
Nebraska
$825K +$407K +30,614 +105%
HCM
30
Hollencrest Capital Management
California
$733K -$74.4K -5,592 -10%
CRWM
31
Castle Rock Wealth Management
California
$695K +$245K +18,441 +36%
GJIC
32
Gamble Jones Investment Counsel
California
$691K – – –
RCM
33
RB Capital Management
Nevada
$666K -$12.8K -959 -2%
MIAN
34
Mariner Independent Advisor Network
Kansas
$659K +$812 +61 +0.1%
LWAC
35
Laurel Wealth Advisors (California)
California
$612K +$133K +10,021 +29%
PWP
36
Private Wealth Partners
California
$570K +$550K +41,358 New
HCM
37
Hilton Capital Management
New York
$569K -$373K -28,000 Closed
CFG
38
Cooper Financial Group
California
$548K +$4.19K +315 +0.8%
Bank of New York Mellon
39
Bank of New York Mellon
New York
$524K -$17.1K -1,285 -3%
MA
40
Mutual Advisors
Nebraska
$519K +$248K +18,641 +98%
Ameriprise
41
Ameriprise
Minnesota
$506K +$345K +25,941 +240%
BRWM
42
B. Riley Wealth Management
Tennessee
$482K – – –
HighTower Advisors
43
HighTower Advisors
Illinois
$458K – – –
Stifel Financial
44
Stifel Financial
Missouri
$445K -$22.7K -1,709 -5%
BF
45
BOK Financial
Oklahoma
$413K +$54.6K +4,100 +16%
WTC
46
WhitTier Trust Company
Nevada
$383K +$7.32K +550 +2%
Cetera Investment Advisers
47
Cetera Investment Advisers
Illinois
$378K – – –
SWP
48
Stratos Wealth Partners
Ohio
$359K +$21.4K +1,611 +7%
Cambridge Investment Research Advisors
49
Cambridge Investment Research Advisors
Iowa
$336K -$273K -20,542 -46%
CCM
50
Coe Capital Management
Illinois
$318K – – –
1
2
3 4 5

NAC Hedge Fund Activity: Q1 2019 in Review

84 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in Nuveen California Quality Municipal Income Fund (NAC) for Q1 2019, worth a combined $179M — down 6.3% from $191M a quarter earlier.

Sellers outnumbered buyers: 19 funds closed out of NAC and 14 opened new positions — a net loss of 5 holders — while 23 trimmed existing stakes and 28 added.

The largest buyer was UBS Group, adding an estimated $2.71M. The largest seller was Beach Point Capital Management, exiting entirely with an estimated $16.3M sold.

  • 84 institutional investors held Nuveen California Quality Municipal Income Fund (NAC) as of Q1 2019, down from 90 in Q4 2018.
  • Funds reported $179M of Nuveen California Quality Municipal Income Fund stock for Q1 2019, down 6.3% quarter-over-quarter.
  • 14 funds opened new Nuveen California Quality Municipal Income Fund positions in Q1 2019 and 19 closed out, a net change of -5 holders.
  • The largest Nuveen California Quality Municipal Income Fund buyer in Q1 2019 was UBS Group, an estimated $2.71M added.
  • The largest Nuveen California Quality Municipal Income Fund seller in Q1 2019 was Beach Point Capital Management, an estimated $16.3M sold.

Based on aggregated 13F filings for Q1 2019.