Vault-13

ISHARES TR CMF

CALIF MUN BD ETF · ETP · CUSIP 464288356

310 institutional holders +6 vs Q4 2024
52,687,75152.7m shares reported held*
$3.0bnreported value*
30 new 112 added 109 reduced 20 sold out net bought ≈ $79.7m (+1.8m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($259.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $56.25.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 194Q4 22: 209Q1 23: 206Q2 23: 206Q3 23: 220Q4 23: 249Q1 24: 256Q2 24: 252Q3 24: 274Q4 24: 304Q1 25: 310310Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022194
Q4 2022209
Q1 2023206
Q2 2023206
Q3 2023220
Q4 2023249
Q1 2024256
Q2 2024252
Q3 2024274
Q4 2024304
Q1 2025310

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q2 23: 111 bought or addedQ2 23: 65 cut or sold outQ3 23: 117 bought or addedQ3 23: 71 cut or sold outQ3 23Q4 23: 119 bought or addedQ4 23: 98 cut or sold outQ1 24: 144 bought or addedQ1 24: 82 cut or sold outQ1 24Q2 24: 128 bought or addedQ2 24: 88 cut or sold outQ3 24: 153 bought or addedQ3 24: 75 cut or sold outQ3 24Q4 24: 175 bought or addedQ4 24: 79 cut or sold outQ1 25: 142 bought or addedQ1 25: 129 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 202311165
Q3 202311771
Q4 202311998
Q1 202414482
Q2 202412888
Q3 202415375
Q4 202417579
Q1 2025142129

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100k$200k$300k$400kQ2 24 calls: $341.3kQ2 24 puts: $256.0kQ2 24P/C 0.75Q3 24 calls: $290.6kQ3 24 puts: $261.8kQ3 24P/C 0.90Q4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —
Numbers
QuarterCallsPutsP/C
Q2 2024$341.3k$256.0k0.75
Q3 2024$290.6k$261.8k0.90
Q4 2024$0$0—
Q1 2025$0$0—

Biggest buyers

Wealthfront Advisers LLC Added +2,124,579+2.1m
SYON CAPITAL LLC New +1,346,273+1.3m
JANE STREET GROUP, LLC New +1,031,769+1.0m
Orin Green Financial, LLC New +366,010+366.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +245,782+245.8k
Garde Capital, Inc. New +122,339+122.3k
CWM, LLC New +106,189+106.2k
Strive Asset Management, LLC New +100,564+100.6k
BAILARD, INC. Added +89,072+89.1k
OSAIC HOLDINGS, INC. Added +78,414+78.4k

Biggest sellers

CHARLES SCHWAB INVESTMENT MANAGEMENT INC Reduced -734,201-734.2k
FMR LLC Reduced -707,856-707.9k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -621,456-621.5k
a16z Perennial Management, L.P. Sold out -452,732-452.7k
BANK OF AMERICA CORP /DE/ Reduced -400,695-400.7k
Orin Green Financial, LLC Sold out -370,653-370.7k
WELLS FARGO & COMPANY/MN Reduced -200,527-200.5k
Focus Partners Wealth Reduced -149,341-149.3k
EP Wealth Advisors, LLC Reduced -148,487-148.5k
BlackRock, Inc. Reduced -118,414-118.4k

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.11% of their portfolio SAN FRANCISCO, CA 10,260,50810.3m $577.5m $577.5m 0.11% Reduced -734.2k -734,201
2 Wealthfront Advisers LLC 1.35% of their portfolio Palo Alto, CA 8,951,8799.0m $503.8m $503.8m 1.35% Added +2.1m +2,124,579
3 FMR LLC 0.02% of their portfolio BOSTON, MA 4,826,5714.8m $271.6m $271.6m 0.02% Reduced -707.9k -707,856
4 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,824,1781.8m $102.7m $102.7m 0.01% Reduced -16.3k -16,263
5 SYON CAPITAL LLC 6.17% of their portfolio SAN FRANCISCO, CA 1,346,2731.3m $75.8m $75.8m 6.17% New
6 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,293,2221.3m $72.8m $72.8m 0.01% Reduced -400.7k -400,695
7 EP Wealth Advisors, LLC 0.57% of their portfolio TORRANCE, CA 1,274,4911.3m $71.7m $71.7m 0.57% Reduced -148.5k -148,487
8 BAILARD, INC. 1.67% of their portfolio Foster City, CA 1,152,1341.2m $64.8m $64.8m 1.67% Added +89.1k +89,072
9 JANE STREET GROUP, LLC 0.10% of their portfolio NEW YORK, NY 1,031,7691.0m $58.1m $58.1m 0.10% New
10 Facet Wealth, Inc. 1.48% of their portfolio WEST PALM BEACH, FL 1,030,9081.0m $57.2m $57.2m 1.48% Reduced -118.0k -118,029
11 Mariner, LLC 0.08% of their portfolio Overland Park, KS 849,394849.4k $47.8m $47.8m 0.08% Reduced -32.0k -32,037
12 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 800,761800.8k $45.1m $45.1m 0.02% Reduced -24.8k -24,756
13 UBS Group AG 0.01% of their portfolio ZURICH, V8 721,419721.4k $40.6m $40.6m 0.01% Reduced -71.8k -71,782
14 TIAA TRUST, NATIONAL ASSOCIATION 0.10% of their portfolio CHARLOTTE, NC 556,489556.5k $31.3m $31.3m 0.10% Reduced -43.1k -43,065
15 FIRST FOUNDATION ADVISORS 1.21% of their portfolio Irvine, CA 527,462527.5k $29.7m $29.7m 1.21% Reduced -34.3k -34,278
16 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 492,537492.5k $27.7m $27.7m 0.00% Added +19.0k +18,989
17 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 469,238469.2k $26.4m $26.4m 0.01% Reduced -15.3k -15,298
18 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 451,957452.0k $25.4m $25.4m 0.01% Reduced -200.5k -200,527
19 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 435,169435.2k $24.5m $24.5m 0.01% Reduced -12.7k -12,653
20 Raub Brock Capital Management LP 5.19% of their portfolio LARKSPUR, CA 412,617412.6k $23.2m $23.2m 5.19% Added +1.2k +1,217
21 Orin Green Financial, LLC 9.47% of their portfolio SAN DIEGO, CA 366,010366.0k $20.1m $20.1m 9.47% New
22 Opes Wealth Management LLC 4.13% of their portfolio MENLO PARK, CA 363,362363.4k $20.5m $20.5m 4.13% Added +18.6k +18,641
23 ASSETMARK, INC 0.06% of their portfolio CONCORD, CA 358,976359.0k $20.2m $20.2m 0.06% Added +29.6k +29,572
24 RWA WEALTH PARTNERS, LLC 0.25% of their portfolio BOSTON, MA 350,687350.7k $19.7m $19.7m 0.25% Reduced -15.2k -15,224
25 Brio Consultants, LLC 3.00% of their portfolio SAN FRANCISCO, CA 338,944338.9k $19.1m $19.1m 3.00% Reduced -72.9k -72,910
26 Manhattan West Asset Management, LLC 4.83% of their portfolio Los Angeles, CA 336,431336.4k $18.9m $18.9m 4.83% Added +7.5k +7,480
27 Slow Capital, Inc. 2.48% of their portfolio GREENBRAE, CA 328,899328.9k $18.5m $18.5m 2.48% Added +45.2k +45,175
28 MERCER GLOBAL ADVISORS INC /ADV 0.04% of their portfolio DENVER, CO 309,162309.2k $17.4m $17.4m 0.04% Reduced -28.4k -28,425
29 BlackRock, Inc. 0.00% of their portfolio New York, NY 254,310254.3k $14.3m $14.3m 0.00% Reduced -118.4k -118,414
30 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 245,782245.8k $13.8m $13.8m 0.02% New
31 SEI INVESTMENTS CO 0.02% of their portfolio OAKS, PA 244,837244.8k $13.8m $13.8m 0.02% Added +9.4k +9,380
32 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 242,713242.7k $13.7m $13.7m 0.01% Added +62.5k +62,456
33 Cerity Partners LLC 0.03% of their portfolio NEW YORK, NY 236,180236.2k $13.3m $13.3m 0.03% Added +12.4k +12,432
34 Cetera Investment Advisers 0.03% of their portfolio SCHAUMBURG, IL 232,961233.0k $13.1m $13.1m 0.03% Added +12.6k +12,554
35 MYECFO, LLC 6.82% of their portfolio La Jolla, CA 228,833228.8k $12.9m $12.9m 6.82% Added +4.2k +4,219
36 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 224,580224.6k $12.6m $12.6m 0.01% Reduced -50.2k -50,242
37 West Wealth Group, LLC 3.43% of their portfolio Irvine, CA 206,136206.1k $11.6m $11.6m 3.43% Added +14.4k +14,395
38 CAPTRUST FINANCIAL ADVISORS 0.03% of their portfolio RALEIGH, NC 205,640205.6k $11.6m $11.6m 0.03% Added +54.6k +54,619
39 Envestnet Portfolio Solutions, Inc. 0.04% of their portfolio BERWYN, PA 204,743204.7k $11.5m $11.5m 0.04% Added +22.4k +22,438
40 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 203,580203.6k $11.5m $11.5m 0.03% Added +78.4k +78,414
41 Navalign, LLC 3.17% of their portfolio ENCINO, CA 197,613197.6k $11.1m $11.1m 3.17% Added +46.5k +46,457
42 Pure Financial Advisors, LLC 0.23% of their portfolio SAN DIEGO, CA 197,195197.2k $11.1m $11.1m 0.23% Reduced -1.4k -1,390
43 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 196,498196.5k $11.1m $11.1m 0.00% Reduced -85.0k -84,950
44 Betterment LLC 0.03% of their portfolio NEW YORK, NY 195,066195.1k $11.0m $11.0m 0.03% Reduced -16.0k -15,983
45 Financial Connections Group, Inc. 4.84% of their portfolio CORTE MADERA, CA 191,708191.7k $10.8m $10.8m 4.84% Reduced -38.1k -38,052
46 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 187,168187.2k $10.5m $10.5m 0.00% Reduced -7.8k -7,770
47 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 180,521180.5k $10.2m $10.2m 0.00% Reduced -18.4k -18,423
48 OneDigital Investment Advisors LLC 0.11% of their portfolio OVERLAND PARK, KS 166,059166.1k $9.3m $9.3m 0.11% Reduced -8.6k -8,647
49 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 159,753159.8k $9.0m $9.0m 0.01% Reduced -6.7k -6,723
50 Focus Partners Wealth 0.02% of their portfolio ST LOUIS, MO 154,187154.2k $8.7m $8.7m 0.02% Reduced -149.3k -149,341
51 Affinity Capital Advisors, LLC 1.61% of their portfolio BERKELEY, CA 148,325148.3k $8.1m $8.1m 1.61% Added +21.6k +21,604
52 Certus Wealth Management, LLC 5.36% of their portfolio SAN CARLOS, CA 142,020142.0k $7.9m $7.9m 5.36% Added +2.0k +2,014
53 NewEdge Advisors, LLC 0.04% of their portfolio NEW ORLEANS, LA 124,764124.8k $7.0m $7.0m 0.04% Reduced -6.4k -6,448
54 Garde Capital, Inc. 0.39% of their portfolio SEATTLE, WA 122,339122.3k $6.9m $6.9m 0.39% New
55 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 121,670121.7k $6.8m $6.8m 0.02% Reduced -1.0k -1,040
56 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 119,897119.9k $6.7m $6.7m 0.01% Reduced -621.5k -621,456
57 Composition Wealth, LLC 0.14% of their portfolio LOS ANGELES, CA 119,835119.8k $6.7m $6.7m 0.14% Reduced -2.3k -2,275
58 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 116,120116.1k $6.5m $6.5m 0.00% Unchanged
59 CWM, LLC 0.02% of their portfolio OMAHA, NE 106,189106.2k $6.0m $6.0m 0.02% New
60 Beacon Pointe Advisors, LLC 0.07% of their portfolio NEWPORT BEACH, CA 105,297105.3k $5.9m $5.9m 0.07% Reduced -17.3k -17,334
61 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.05% of their portfolio IRVING, TX 101,270101.3k $5.7m $5.7m 0.05% Added +15.3k +15,350
62 Strive Asset Management, LLC 3.93% of their portfolio DALLAS, TX 100,564100.6k $5.7m $5.7m 3.93% New
63 CHOREO, LLC 0.09% of their portfolio ROCKFORD, IL 99,63599.6k $5.6m $5.6m 0.09% Reduced -3.4k -3,394
64 MISSION WEALTH MANAGEMENT, LP 0.14% of their portfolio Santa Barbara, CA 99,10999.1k $5.6m $5.6m 0.14% Reduced -6.2k -6,151
65 Client First Capital LLC 2.67% of their portfolio SAN DIEGO, CA 92,57892.6k $5.2m $5.2m 2.67% Unchanged
66 FIRST AMERICAN TRUST, FSB 0.46% of their portfolio SANTA ANA, CA 88,59288.6k $5.0m $5.0m 0.46% Reduced -17.1k -17,101
67 Rinkey Investments 1.57% of their portfolio San Diego, CA 88,17188.2k $5.0m $5.0m 1.57% Reduced -92.5k -92,518
68 EHRLICH FINANCIAL GROUP 3.61% of their portfolio LAGUNA NIGUEL, CA 87,96388.0k $5.0m $5.0m 3.61% Reduced -7.9k -7,857
69 Parallel Advisors, LLC 0.11% of their portfolio SAN FRANCISCO, CA 86,65586.7k $4.9m $4.9m 0.11% Added +127 +127
70 Prime Capital Investment Advisors, LLC 0.06% of their portfolio OVERLAND PARK, KS 83,99884.0k $4.7m $4.7m 0.06% Added +3.8k +3,776
71 AMARA FINANCIAL, LLC. 4.12% of their portfolio SAN FRANCISCO, CA 79,26079.3k $4.5m $4.5m 4.12% Reduced -16.1k -16,081
72 Traveka Wealth, LLC 2.46% of their portfolio LOS ALTOS, CA 78,11578.1k $4.4m $4.4m 2.46% Reduced -224 -224
73 BANK OF STOCKTON 1.38% of their portfolio STOCKTON, CA 76,77576.8k $4.3m $4.3m 1.38% Reduced -2.0k -2,022
74 Omega Financial Group, LLC 1.62% of their portfolio Santa Barbara, CA 74,94874.9k $4.2m $4.2m 1.62% Reduced -893 -893
75 Bell Investment Advisors, Inc 0.77% of their portfolio ORINDA, CA 74,15274.2k $4.2m $4.2m 0.77% Added +9.9k +9,946
76 GUGGENHEIM CAPITAL LLC 0.04% of their portfolio CHICAGO, IL 73,24473.2k $4.1m $4.1m 0.04% Added +23.6k +23,639
77 Valmark Advisers, Inc. 0.06% of their portfolio AKRON, OH 70,57870.6k $4.0m $4.0m 0.06% Added +11.1k +11,102
78 Freestone Capital Holdings, LLC 0.15% of their portfolio Seattle, WA 68,87868.9k $3.9m $3.9m 0.15% Added +2.2k +2,218
79 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.07% of their portfolio MINNEAPOLIS, MN 68,07768.1k $3.8m $3.8m 0.07% Added +11.4k +11,401
80 Elmwood Wealth Management, Inc. 1.50% of their portfolio BERKELEY, CA 65,16565.2k $3.7m $3.7m 1.50% Reduced -25 -25
81 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 64,85764.9k $3.6m $3.6m 0.01% Reduced -10.1k -10,138
82 Stonehage Fleming Financial Services Holdings Ltd 0.13% of their portfolio ST. HELIER, Y9 64,52164.5k $3.6m $3.6m 0.13% Added +36.9k +36,938
83 LODESTAR PRIVATE ASSET MANAGEMENT LLC 0.46% of their portfolio ALAMO, CA 64,46164.5k $3.6m $3.6m 0.46% Reduced -7.8k -7,791
84 Westfuller Advisors, LLC 2.42% of their portfolio New York, NY 64,45364.5k $3.6m $3.6m 2.42% Reduced -7 -7
85 AVANTAX ADVISORY SERVICES, INC. 0.02% of their portfolio DALLAS, TX 60,05560.1k $3.4m $3.4m 0.02% Added +6.3k +6,283
86 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 59,62359.6k $3.4m $3.4m 0.00% Added +3.2k +3,192
87 Wealthspire Advisors, LLC 0.02% of their portfolio NEW YORK, NY 59,23859.2k $3.3m $3.3m 0.02% Added +35.7k +35,677
88 Warren Street Wealth Advisors, LLC 1.24% of their portfolio IRVINE, CA 56,13856.1k $3.2m $3.2m 1.24% Reduced -1.1k -1,146
89 Compound Planning, Inc. 0.14% of their portfolio NEW YORK, NY 55,72855.7k $3.1m $3.1m 0.14% Added +1.0k +1,019
90 TOWNSQUARE CAPITAL LLC 0.03% of their portfolio Lehi, UT 55,54355.5k $3.1m $3.1m 0.03% Reduced -1.1k -1,146
91 SteelPeak Wealth, LLC 0.13% of their portfolio WOODLAND HILLS, CA 55,45555.5k $3.1m $3.1m 0.13% Reduced -1.1k -1,124
92 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 54,49354.5k $3.1m $3.1m 0.00% Added +11.7k +11,747
93 Blue Oak Capital, LLC 1.67% of their portfolio MENLO PARK, CA 53,63053.6k $3.0m $3.0m 1.67% Added +34.9k +34,864
94 WHITTIER TRUST CO 0.04% of their portfolio SOUTH PASADENA, CA 52,72952.7k $3.0m $3.0m 0.04% Reduced -13.2k -13,220
95 Creative Capital Management Investments LLC 1.10% of their portfolio SAN DIEGO, CA 50,56250.6k $2.8m $2.8m 1.10% Reduced -5.0k -5,039
96 GWN SECURITIES INC. 0.15% of their portfolio Palm Beach Gardens, FL 49,29749.3k $2.7m $2.7m 0.15% New
97 GOULD ASSET MANAGEMENT LLC /CA/ 0.57% of their portfolio CLAREMONT, CA 48,91548.9k $2.8m $2.8m 0.57% Added +1.6k +1,550
98 Heritage Wealth Management, Inc. /CA/ 2.34% of their portfolio SAN DIEGO, CA 48,71848.7k $2.7m $2.7m 2.34% Added +907 +907
99 DeDora Capital, Inc. 0.74% of their portfolio Napa, CA 45,67945.7k $2.6m $2.6m 0.74% Added +5.0k +4,972
100 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 45,50745.5k $2.6m $2.6m 0.02% Reduced -38.2k -38,247