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Nuveen California Quality Municipal Income Fund
NAC

118 hedge funds and large institutions have $251M invested in Nuveen California Quality Municipal Income Fund in 2025 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 41 increasing their positions, 37 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

11% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 37

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

2.12% less ownership

Funds ownership: 17.57% → 15.45% (-2.1%)

5% less funds holding

Funds holding: 124 → 118 (-6)

13% less capital invested

Capital invested by funds: $287M → $251M (-$36M)

36% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 14

Holders
118
Holders Change
-6
Holders Change %
-4.84%
% of All Funds
1.58%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
9
Increased
41
Reduced
37
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$2.62M
2
Rockefeller Capital Management
Rockefeller Capital Management
New York
+$1.69M
3
AAM
Advisors Asset Management
Colorado
+$826K
4
Fisher Asset Management
Fisher Asset Management
Washington
+$693K
5
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
+$677K

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$24.7M
2
RCM
Rivernorth Capital Management
Florida
-$11.7M
3
DWM
Dakota Wealth Management
Florida
-$1.74M
4
OIA
OneDigital Investment Advisors
Kansas
-$913K
5
WA
Whitebox Advisors
Minnesota
-$821K
Name Holding Trade Value Shares
Change 		Change in
Stake
MA
76
MKT Advisors
California
$250K – – –
FFA
77
Farther Finance Advisors
California
$246K – – –
JWCA
78
J.W. Cole Advisors
Florida
$242K +$245K +21,541 New
Wealth Enhancement Advisory Services
79
Wealth Enhancement Advisory Services
Minnesota
$240K +$29.2K +2,574 +14%
FAT
80
First American Trust
California
$214K – – –
PFA
81
Pure Financial Advisors
California
$205K – – –
AAS
82
Avantax Advisory Services
Texas
$195K +$197K +17,355 New
AAS
83
Ameritas Advisory Services
Nebraska
$192K -$46.3K -4,078 -19%
PWM
84
Perigon Wealth Management
California
$186K – – –
RCM
85
RB Capital Management
Nevada
$175K -$29.2K -2,568 -14%
WWM
86
Western Wealth Management
Colorado
$169K – – –
GIM
87
Grassi Investment Management
California
$169K – – –
CIA
88
Choate Investment Advisors
Massachusetts
$169K – – –
BWMG
89
Barnes Wealth Management Group
California
$168K – – –
IC
90
IEQ Capital
California
$161K -$32.1K -2,825 -16%
PA
91
Parallel Advisors
California
$155K – – –
IP
92
Intellectus Partners
California
$153K – – –
EWA
93
EP Wealth Advisors
California
$131K -$52.4K -4,611 -28%
VF
94
Virtu Financial
New York
$129K +$131K +11,495 New
MFIM
95
Mesirow Financial Investment Management
Illinois
$127K +$1.64K +144 +1%
PIA
96
Perennial Investment Advisors
California
$124K +$125K +11,012 New
FA
97
Fermata Advisors
California
$123K – – –
CW
98
CreativeOne Wealth
Kansas
$121K – – –
RTC
99
Riverview Trust Company
Washington
$119K – – –
SA
100
Strategic Advocates
Utah
$117K – – –
2 3
4
5 6

NAC Hedge Fund Activity: Q1 2025 in Review

118 of the 7,462 institutional investors tracked by Wall St. Rank reported a position in Nuveen California Quality Municipal Income Fund (NAC) for Q1 2025, worth a combined $251M — down 13% from $287M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of NAC and 9 opened new positions — a net loss of 5 holders — while 37 trimmed existing stakes and 41 added.

The largest buyer was Morgan Stanley, adding an estimated $2.62M. The largest seller was Karpus Investment Management, cutting an estimated $24.7M.

  • 118 institutional investors held Nuveen California Quality Municipal Income Fund (NAC) as of Q1 2025, down from 124 in Q4 2024.
  • Funds reported $251M of Nuveen California Quality Municipal Income Fund stock for Q1 2025, down 13% quarter-over-quarter.
  • 9 funds opened new Nuveen California Quality Municipal Income Fund positions in Q1 2025 and 14 closed out, a net change of -5 holders.
  • The largest Nuveen California Quality Municipal Income Fund buyer in Q1 2025 was Morgan Stanley, an estimated $2.62M added.
  • The largest Nuveen California Quality Municipal Income Fund seller in Q1 2025 was Karpus Investment Management, an estimated $24.7M sold.

Based on aggregated 13F filings for Q1 2025.