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Nuveen California Quality Municipal Income Fund
NAC

119 hedge funds and large institutions have $225M invested in Nuveen California Quality Municipal Income Fund in 2025 Q2 according to their latest regulatory filings, with 14 funds opening new positions, 43 increasing their positions, 28 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

54% more repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 28

8% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 13

1% more funds holding

Funds holding: 118 → 119 (+1)

1.53% less ownership

Funds ownership: 15.45% → 13.92% (-1.5%)

10% less capital invested

Capital invested by funds: $251M → $225M (-$26.1M)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
119
Holders Change
+1
Holders Change %
+0.85%
% of All Funds
1.57%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
14
Increased
43
Reduced
28
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
GC
Guggenheim Capital
Illinois
+$2.27M
2
Morgan Stanley
Morgan Stanley
New York
+$1.46M
3
Wells Fargo
Wells Fargo
California
+$1.43M
4
AAM
Advisors Asset Management
Colorado
+$1.06M
5
LPL Financial
LPL Financial
California
+$781K

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$15.5M
2
RCM
Robinson Capital Management
Michigan
-$7.14M
3
KIM
Karpus Investment Management
New York
-$6.65M
4
UBS Group
UBS Group
Switzerland
-$3.37M
5
SIA
Sit Investment Associates
Minnesota
-$722K
Name Holding Trade Value Shares
Change 		Change in
Stake
Cambridge Investment Research Advisors
76
Cambridge Investment Research Advisors
Iowa
$221K +$216K +19,789 New
Creative Planning
77
Creative Planning
Kansas
$214K -$541K -49,611 -72%
FAT
78
First American Trust
California
$212K – – –
PFA
79
Pure Financial Advisors
California
$203K – – –
Citadel Advisors
80
Citadel Advisors
Florida
$197K +$192K +17,654 New
AAS
81
Ameritas Advisory Services
Nebraska
$191K – – –
GKWIM
82
Gerber Kawasaki Wealth & Investment Management
California
$179K +$174K +15,987 New
RCM
83
RB Capital Management
Nevada
$176K +$2.77K +254 +2%
PWM
84
Perigon Wealth Management
California
$169K -$15.3K -1,400 -8%
WWM
85
Western Wealth Management
Colorado
$168K – – –
GIM
86
Grassi Investment Management
California
$168K – – –
CIA
87
Choate Investment Advisors
Massachusetts
$168K – – –
BWMG
88
Barnes Wealth Management Group
California
$167K – – –
NAS
89
NWF Advisory Services
California
$162K +$158K +14,520 New
PA
90
Parallel Advisors
California
$154K – – –
MFIM
91
Mesirow Financial Investment Management
Illinois
$151K +$24.3K +2,229 +20%
CW
92
CreativeOne Wealth
Kansas
$151K +$29.9K +2,740 +25%
IC
93
IEQ Capital
California
$148K -$12.4K -1,138 -8%
IFG
94
Independent Financial Group
California
$146K +$142K +13,043 New
EE
95
EWG Elevate
California
$135K +$132K +12,100 New
AAS
96
Avantax Advisory Services
Texas
$134K -$58.5K -5,368 -31%
KAS
97
Kestra Advisory Services
Texas
$126K +$123K +11,321 New
VF
98
Virtu Financial
New York
$124K -$4.14K -380 -3%
PIA
99
Perennial Investment Advisors
California
$123K – – –
FA
100
Fermata Advisors
California
$122K – – –
2 3
4
5 6

NAC Hedge Fund Activity: Q2 2025 in Review

119 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Nuveen California Quality Municipal Income Fund (NAC) for Q2 2025, worth a combined $225M — down 10% from $251M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new NAC positions and 13 closed out — a net gain of 1 holder — while 43 added to existing stakes and 28 trimmed.

The largest buyer was Guggenheim Capital, adding an estimated $2.27M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $15.5M sold.

  • 119 institutional investors held Nuveen California Quality Municipal Income Fund (NAC) as of Q2 2025, up from 118 in Q1 2025.
  • Funds reported $225M of Nuveen California Quality Municipal Income Fund stock for Q2 2025, down 10% quarter-over-quarter.
  • 14 funds opened new Nuveen California Quality Municipal Income Fund positions in Q2 2025 and 13 closed out, a net change of +1 holder.
  • The largest Nuveen California Quality Municipal Income Fund buyer in Q2 2025 was Guggenheim Capital, an estimated $2.27M added.
  • The largest Nuveen California Quality Municipal Income Fund seller in Q2 2025 was Rivernorth Capital Management, an estimated $15.5M sold.

Based on aggregated 13F filings for Q2 2025.