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PCQ

Pimco California Municipal Income Fund
PCQ

93 hedge funds and large institutions have $153M invested in Pimco California Municipal Income Fund in 2025 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 36 increasing their positions, 18 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more repeat investments, than reductions

Existing positions increased: 36 | Existing positions reduced: 18

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

45% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 11

10% more capital invested

Capital invested by funds: $138M → $153M (+$14.3M)

6% more funds holding

Funds holding: 88 → 93 (+5)

52.43% less ownership

Funds ownership: 83.59% → 31.16% (-52%)

Holders
93
Holders Change
+5
Holders Change %
+5.68%
% of All Funds
1.13%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.04%
New
16
Increased
36
Reduced
18
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
AC
Almitas Capital
California
+$4.29M
2
RCM
Robinson Capital Management
Michigan
+$3.38M
3
LSC
Logan Stone Capital
Illinois
+$2.75M
4
Verition Fund Management
Verition Fund Management
Connecticut
+$2.68M
5
ACM
Altium Capital Management
New York
+$2.28M

Top Sellers

1
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
-$7.04M
2
HWAM
Hennion & Walsh Asset Management
New Jersey
-$2.37M
3
AAM
Advisors Asset Management
Colorado
-$2.08M
4
UBS Group
UBS Group
Switzerland
-$955K
5
IWC
Integrated Wealth Concepts
Massachusetts
-$872K
Name Holding Trade Value Shares
Change 		Change in
Stake
TIM
101
Tortoise Investment Management
New York
– -$54.6K -6,264 Closed
ASN
102
Advisory Services Network
Georgia
– -$14.2K -1,623 Closed
RIL
103
Rothschild Investment LLC
Illinois
– -$12.2K -1,404 Closed
CSC
104
Caldwell Sutter Capital
California
– -$6.78K -777 Closed
1 2 3 4
5

PCQ Hedge Fund Activity: Q4 2025 in Review

93 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Pimco California Municipal Income Fund (PCQ) for Q4 2025, worth a combined $153M — up 10% from $138M a quarter earlier.

Buyers outnumbered sellers: 16 funds opened new PCQ positions and 11 closed out — a net gain of 5 holders — while 36 added to existing stakes and 18 trimmed.

The largest buyer was Almitas Capital, adding an estimated $4.29M. The largest seller was Toronto Dominion Bank, exiting entirely with an estimated $7.04M sold.

  • 93 institutional investors held Pimco California Municipal Income Fund (PCQ) as of Q4 2025, up from 88 in Q3 2025.
  • Funds reported $153M of Pimco California Municipal Income Fund stock for Q4 2025, up 10% quarter-over-quarter.
  • 16 funds opened new Pimco California Municipal Income Fund positions in Q4 2025 and 11 closed out, a net change of +5 holders.
  • The largest Pimco California Municipal Income Fund buyer in Q4 2025 was Almitas Capital, an estimated $4.29M added.
  • The largest Pimco California Municipal Income Fund seller in Q4 2025 was Toronto Dominion Bank, an estimated $7.04M sold.

Based on aggregated 13F filings for Q4 2025.