Vault-13

ISHARES TR CMF

CALIF MUN BD ETF · ETP · CUSIP 464288356

352 institutional holders +16 vs Q4 2025
50,420,83250.4m shares reported held*
$2.9bnreported value*
35 new 158 added 90 reduced 21 sold out net bought ≈ $158.2m (+2.7m 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 ($740.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $56.90.

Trends to Q1 2026

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: 310Q2 25: 319Q3 25: 315Q4 25: 336Q1 26: 352352Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022194
Q4 2022209
Q1 2023206
Q2 2023206
Q3 2023220
Q4 2023249
Q1 2024256
Q2 2024252
Q3 2024274
Q4 2024304
Q1 2025310
Q2 2025319
Q3 2025315
Q4 2025336
Q1 2026352

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 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 25Q2 25: 147 bought or addedQ2 25: 139 cut or sold outQ3 25: 162 bought or addedQ3 25: 120 cut or sold outQ3 25Q4 25: 187 bought or addedQ4 25: 93 cut or sold outQ1 26: 193 bought or addedQ1 26: 111 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 202412888
Q3 202415375
Q4 202417579
Q1 2025142129
Q2 2025147139
Q3 2025162120
Q4 202518793
Q1 2026193111

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5mQ2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $1.0mQ4 25P/C —Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —
Numbers
QuarterCallsPutsP/C
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$0$1.0m—
Q1 2026$0$0—

Biggest buyers

Wealthfront Advisers LLC Added +1,089,990+1.1m
BlackRock, Inc. Added +645,227+645.2k
ENVESTNET ASSET MANAGEMENT INC Added +478,469+478.5k
Beacon Pointe Advisors, LLC Added +295,864+295.9k
SYON CAPITAL LLC Added +204,365+204.4k
LPL Financial LLC Added +158,111+158.1k
Apella Capital, LLC Added +149,807+149.8k
Garde Capital, Inc. New +118,101+118.1k
MERCER GLOBAL ADVISORS INC /ADV Added +107,828+107.8k
GUGGENHEIM CAPITAL LLC Added +103,351+103.4k

Biggest sellers

TIAA TRUST, NATIONAL ASSOCIATION Reduced -653,674-653.7k
Envestnet Portfolio Solutions, Inc. Sold out -359,418-359.4k
BAILARD, INC. Reduced -204,519-204.5k
AXXCESS WEALTH MANAGEMENT, LLC Sold out -195,887-195.9k
OSAIC HOLDINGS, INC. Reduced -102,299-102.3k
FMR LLC Reduced -99,397-99.4k
BANK OF AMERICA CORP /DE/ Reduced -96,775-96.8k
RENAISSANCE TECHNOLOGIES LLC Reduced -93,900-93.9k
US BANCORP \DE\ Reduced -93,495-93.5k
BNP PARIBAS FINANCIAL MARKETS Reduced -64,817-64.8k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.07% of their portfolio SAN FRANCISCO, CA 8,496,8088.5m $483.1m $483.1m 0.07% Added +56.8k +56,779
2 Wealthfront Advisers LLC 0.77% of their portfolio Palo Alto, CA 6,199,7216.2m $352.5m $352.5m 0.77% Added +1.1m +1,089,990
3 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,872,7231.9m $106.5m $106.5m 0.01% Added +82.1k +82,134
4 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,836,8741.8m $104.4m $104.4m 0.01% Reduced -96.8k -96,775
5 FMR LLC 0.01% of their portfolio BOSTON, MA 1,807,0291.8m $102.7m $102.7m 0.01% Reduced -99.4k -99,397
6 Facet Wealth, Inc. 1.56% of their portfolio WEST PALM BEACH, FL 1,581,0741.6m $89.9m $89.9m 1.56% Added +83.2k +83,217
7 SYON CAPITAL LLC 3.87% of their portfolio SAN FRANCISCO, CA 1,352,1281.4m $76.9m $76.9m 3.87% Added +204.4k +204,365
8 BAILARD, INC. 1.61% of their portfolio Foster City, CA 1,234,6061.2m $70.2m $70.2m 1.61% Reduced -204.5k -204,519
9 EP Wealth Advisors, LLC 0.33% of their portfolio TORRANCE, CA 1,180,8991.2m $67.1m $67.1m 0.33% Added +9.9k +9,918
10 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,147,5931.1m $65.3m $65.3m 0.02% Added +158.1k +158,111
11 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 1,021,0591.0m $58.1m $58.1m 0.02% Added +478.5k +478,469
12 Mariner, LLC 0.06% of their portfolio Overland Park, KS 918,584918.6k $52.2m $52.2m 0.06% Added +12.7k +12,660
13 BlackRock, Inc. 0.00% of their portfolio New York, NY 882,814882.8k $50.2m $50.2m 0.00% Added +645.2k +645,227
14 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 681,794681.8k $38.7m $38.7m 0.00% Added +29.3k +29,330
15 TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC 0.15% of their portfolio CHARLOTTE, NC 663,621663.6k $37.7m $37.7m 0.15% First filing
16 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 657,464657.5k $37.4m $37.4m 0.01% Added +48.8k +48,820
17 MERCER GLOBAL ADVISORS INC /ADV 0.06% of their portfolio DENVER, CO 657,171657.2k $37.4m $37.4m 0.06% Added +107.8k +107,828
18 UBS Group AG 0.01% of their portfolio ZURICH, V8 531,875531.9k $30.2m $30.2m 0.01% Reduced -5.0k -5,004
19 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 471,638471.6k $26.8m $26.8m 0.01% Added +21.2k +21,217
20 Opes Wealth Management LLC 4.54% of their portfolio MENLO PARK, CA 467,978468.0k $26.6m $26.6m 4.54% Added +29.0k +29,000
21 Beacon Pointe Advisors, LLC 0.12% of their portfolio NEWPORT BEACH, CA 411,658411.7k $23.4m $23.4m 0.12% Added +295.9k +295,864
22 Focus Partners Wealth 0.03% of their portfolio ST LOUIS, MO 404,359404.4k $23.0m $23.0m 0.03% Added +60.4k +60,405
23 Manhattan West Asset Management, LLC 4.42% of their portfolio Los Angeles, CA 397,775397.8k $22.6m $22.6m 4.42% Added +34.5k +34,481
24 GUGGENHEIM CAPITAL LLC 0.18% of their portfolio CHICAGO, IL 396,010396.0k $22.5m $22.5m 0.18% Added +103.4k +103,351
25 ASSETMARK, INC 0.05% of their portfolio CONCORD, CA 391,733391.7k $22.3m $22.3m 0.05% Added +18.9k +18,851
26 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 368,508368.5k $21.0m $21.0m 0.02% Reduced -9.5k -9,549
27 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 366,339366.3k $21.0m $21.0m 0.01% Added +28.2k +28,162
28 Steward Partners Investment Advisory, LLC 0.10% of their portfolio STAMFORD, CT 358,790358.8k $20.4m $20.4m 0.10% Reduced -2.5k -2,543
29 FIRST FOUNDATION ADVISORS 0.82% of their portfolio Irvine, CA 356,732356.7k $20.3m $20.3m 0.82% Reduced -10.6k -10,551
30 CAPTRUST FINANCIAL ADVISORS 0.04% of their portfolio RALEIGH, NC 356,431356.4k $20.3m $20.3m 0.04% Added +5.0k +5,045
31 West Wealth Group, LLC 3.73% of their portfolio Irvine, CA 331,806331.8k $18.9m $18.9m 3.73% Added +58.0k +58,007
32 Cerity Partners LLC 0.03% of their portfolio NEW YORK, NY 331,070331.1k $18.8m $18.8m 0.03% Added +79.8k +79,792
33 RWA WEALTH PARTNERS, LLC 0.19% of their portfolio BOSTON, MA 312,546312.5k $17.8m $17.8m 0.19% Added +49 +49
34 SEI INVESTMENTS CO 0.02% of their portfolio OAKS, PA 308,912308.9k $17.6m $17.6m 0.02% Added +2.2k +2,189
35 Affinity Capital Advisors, LLC 2.34% of their portfolio BERKELEY, CA 293,236293.2k $16.7m $16.7m 2.34% Added +23.6k +23,642
36 Orin Green Financial, LLC 6.70% of their portfolio SAN DIEGO, CA 287,164287.2k $16.3m $16.3m 6.70% Reduced -19.9k -19,863
37 Slow Capital, Inc. 2.06% of their portfolio GREENBRAE, CA 278,292278.3k $15.8m $15.8m 2.06% Reduced -3.2k -3,155
38 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 277,418277.4k $15.8m $15.8m 0.01% Added +57.6k +57,611
39 MYECFO, LLC 6.25% of their portfolio La Jolla, CA 262,542262.5k $14.9m $14.9m 6.25% Added +11.3k +11,340
40 Rinkey Investments 3.77% of their portfolio San Diego, CA 258,963259.0k $14.7m $14.7m 3.77% Added +65.3k +65,282
41 RiverFront Investment Group, LLC 0.22% of their portfolio RICHMOND, VA 244,554244.6k $13.9m $13.9m 0.22% Added +85.6k +85,562
42 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 243,494243.5k $13.8m $13.8m 0.00% Reduced -15.6k -15,599
43 Betterment LLC 0.03% of their portfolio NEW YORK, NY 242,057242.1k $13.8m $13.8m 0.03% Added +10.8k +10,751
44 Apella Capital, LLC 0.18% of their portfolio WEST HARTFORD, CT 212,510212.5k $12.2m $12.2m 0.18% Added +149.8k +149,807
45 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 206,115206.1k $11.7m $11.7m 0.01% Added +64.8k +64,802
46 Navalign, LLC 2.88% of their portfolio ENCINO, CA 200,894200.9k $11.4m $11.4m 2.88% Added +13.8k +13,782
47 Atlas Legacy Advisors, LLC 2.06% of their portfolio LOS ANGELES, CA 198,262198.3k $11.3m $11.3m 2.06% Reduced -14.8k -14,785
48 Brio Consultants, LLC 1.38% of their portfolio SAN FRANCISCO, CA 197,127197.1k $11.3m $11.3m 1.38% Reduced -1.1k -1,050
49 Pure Financial Advisors, LLC 0.16% of their portfolio SAN DIEGO, CA 195,635195.6k $11.1m $11.1m 0.16% Added +6.4k +6,366
50 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.16% of their portfolio MINNEAPOLIS, MN 192,029192.0k $10.9m $10.9m 0.16% Added +26.5k +26,512
51 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 172,581172.6k $9.8m $9.8m 0.01% Added +31.6k +31,641
52 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 162,761162.8k $9.2m $9.2m 0.00% Added +39.5k +39,481
53 Financial Connections Group, Inc. 3.04% of their portfolio CORTE MADERA, CA 153,857153.9k $8.7m $8.7m 3.04% Reduced -3.5k -3,495
54 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 150,685150.7k $8.6m $8.6m 0.00% Reduced -2.0k -2,024
55 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 144,709144.7k $8.2m $8.2m 0.00% Reduced -8.6k -8,585
56 Wedmont Private Capital 0.26% of their portfolio WEST CHESTER, PA 142,044142.0k $8.1m $8.1m 0.26% Reduced -15.4k -15,382
57 Sanctuary Advisors, LLC 0.04% of their portfolio INDIANAPOLIS, IN 129,377129.4k $7.4m $7.4m 0.04% Added +8.2k +8,246
58 Farther Finance Advisors, LLC 0.07% of their portfolio SAN FRANCISCO, CA 128,029128.0k $7.3m $7.3m 0.07% Reduced -3.6k -3,572
59 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 126,007126.0k $7.2m $7.2m 0.01% Added +1.5k +1,454
60 OneDigital Investment Advisors LLC 0.07% of their portfolio OVERLAND PARK, KS 124,682124.7k $7.1m $7.1m 0.07% Added +1.5k +1,537
61 Garde Capital, Inc. 0.40% of their portfolio SEATTLE, WA 118,101118.1k $6.7m $6.7m 0.40% New
62 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 113,692113.7k $6.5m $6.5m 0.01% Added +48.7k +48,741
63 CWM, LLC 0.02% of their portfolio OMAHA, NE 112,944112.9k $6.4m $6.4m 0.02% Reduced -16.1k -16,087
64 FIRST AMERICAN TRUST, FSB 0.42% of their portfolio SANTA ANA, CA 110,938110.9k $6.3m $6.3m 0.42% Reduced -3.3k -3,321
65 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 103,080103.1k $5.9m $5.9m 0.02% Added +5.5k +5,479
66 Stonehage Fleming Financial Services Holdings Ltd 0.21% of their portfolio ST. HELIER, Y9 102,100102.1k $5.8m $5.8m 0.21% Added +39.8k +39,842
67 Compound Planning, Inc. 0.18% of their portfolio NEW YORK, NY 99,86199.9k $5.7m $5.7m 0.18% Added +14.4k +14,429
68 THRYVE WEALTH MANAGEMENT LLC 3.72% of their portfolio IRVING, TX 97,93897.9k $5.6m $5.6m 3.72% Reduced -3.5k -3,523
69 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 96,38096.4k $5.5m $5.5m 0.00% Unchanged
70 Fullerton Advisors, LLC 5.60% of their portfolio DANVILLE, CA 95,03395.0k $5.4m $5.4m 5.60% Added +7.5k +7,542
71 Client First Capital LLC 2.31% of their portfolio SAN DIEGO, CA 92,57892.6k $5.3m $5.3m 2.31% Unchanged
72 NDWM LLC 3.34% of their portfolio LA JOLLA, CA 90,58090.6k $5.2m $5.2m 3.34% Added +9.8k +9,825
73 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 90,38490.4k $5.1m $5.1m 0.01% Reduced -13.0k -13,007
74 Ducere Wealth Management LLC 2.04% of their portfolio NEWPORT BEACH, CA 90,27290.3k $5.1m $5.1m 2.04% Reduced -7.2k -7,199
75 Freestone Capital Holdings, LLC 0.15% of their portfolio Seattle, WA 86,87486.9k $4.9m $4.9m 0.15% Added +9.1k +9,103
76 Ballast Rock Private Wealth LLC 2.66% of their portfolio CHARLESTON, SC 84,56884.6k $4.8m $4.8m 2.66% Added +44.4k +44,403
77 Gerber Kawasaki Wealth & Investment Management 0.15% of their portfolio SANTA MONICA, CA 83,50683.5k $4.7m $4.7m 0.15% Added +42.4k +42,392
78 Columbia Bank 1.32% of their portfolio Lake Oswego, OR 81,42681.4k $4.6m $4.6m 1.32% Added +600 +600
79 Valmark Advisers, Inc. 0.05% of their portfolio AKRON, OH 80,66980.7k $4.6m $4.6m 0.05% Added +24.4k +24,382
80 Elmwood Wealth Management, Inc. 1.23% of their portfolio BERKELEY, CA 77,91677.9k $4.4m $4.4m 1.23% Added +9.9k +9,876
81 Prime Capital Investment Advisors, LLC 0.05% of their portfolio OVERLAND PARK, KS 75,77175.8k $4.3m $4.3m 0.05% Added +1.9k +1,873
82 Integrated Advisors Network LLC 0.22% of their portfolio DALLAS, TX 74,45974.5k $4.2m $4.2m 0.22% New
83 CHOREO, LLC 0.05% of their portfolio ROCKFORD, IL 73,53473.5k $4.2m $4.2m 0.05% Reduced -1.4k -1,428
84 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.02% of their portfolio Stamford, CT 70,85070.8k $4.0m $4.0m 0.02% Added +8.9k +8,946
85 FIFTH THIRD BANCORP 0.01% of their portfolio CINCINNATI, OH 70,00470.0k $4.0m $4.0m 0.01% New
86 Sand Hill Global Advisors, LLC 0.13% of their portfolio Palo Alto, CA 69,96570.0k $4.0m $4.0m 0.13% Reduced -5.3k -5,336
87 MISSION WEALTH MANAGEMENT, LP 0.08% of their portfolio Santa Barbara, CA 69,47169.5k $4.0m $4.0m 0.08% Reduced -5.0k -4,953
88 Westfuller Advisors, LLC 1.69% of their portfolio New York, NY 69,06469.1k $3.9m $3.9m 1.69% Added +3.6k +3,643
89 EHRLICH FINANCIAL GROUP 2.24% of their portfolio LAGUNA NIGUEL, CA 68,53368.5k $3.9m $3.9m 2.24% Reduced -371 -371
90 SILVER OAK WEALTH ADVISORS SERVICES, LLC 2.46% of their portfolio LOS ANGELES, CA 66,53666.5k $3.8m $3.8m 2.46% Reduced -25.9k -25,921
91 Summit Trail Advisors, LLC 0.05% of their portfolio NEW YORK, NY 65,71865.7k $3.7m $3.7m 0.05% Unchanged
92 One Capital Management, LLC 0.10% of their portfolio WESTLAKE VILLAGE, CA 62,54062.5k $3.6m $3.6m 0.10% Added +8.4k +8,422
93 Omega Financial Group, LLC 1.17% of their portfolio Santa Barbara, CA 62,31162.3k $3.5m $3.5m 1.17% Reduced -5.3k -5,305
94 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 61,82061.8k $3.5m $3.5m 0.00% Added +11.8k +11,760
95 Quantinno Capital Management LP 0.01% of their portfolio NEW YORK, NY 55,00255.0k $3.1m $3.1m 0.01% Added +7.3k +7,299
96 Warren Street Wealth Advisors, LLC 0.80% of their portfolio IRVINE, CA 54,85954.9k $3.1m $3.1m 0.80% Added +428 +428
97 LODESTAR PRIVATE ASSET MANAGEMENT LLC 0.31% of their portfolio ALAMO, CA 54,53354.5k $3.1m $3.1m 0.31% Added +1.0k +1,046
98 WHITTIER TRUST CO 0.03% of their portfolio SOUTH PASADENA, CA 54,43754.4k $3.1m $3.1m 0.03% Added +530 +530
99 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 53,86453.9k $3.1m $3.1m 0.00% Reduced -102.3k -102,299
100 Heritage Wealth Management, Inc. /CA/ 1.69% of their portfolio SAN DIEGO, CA 53,37853.4k $3.0m $3.0m 1.69% Added +4.4k +4,391