Pimco California Municipal Income Fund

PCQ • NYSE

Pimco California Municipal Income Fund is a publicly traded company on NYSE. As of Q3 2025, 79 institutional investors hold shares in this company, with total holdings valued at $133.8M. RIVERNORTH CAPITAL MANAGEMENT, LLC is the largest holder with a position valued at $20.7M.

Websitepimco.com

Overview

Overview of institutional ownership in PCQ as of Q3 2025

All Institutions

Institutions: 79
Value Held: $133.8M
Shares Held: 15.3M
Avg Position: $1.7M
Median Position: $286.0K

Hedge Funds

Hedge Funds: 10
Value Held: $40.4M
Shares Held: 4.6M
Avg Position: $4.0M
Median Position: $1.3M

Biggest Investors

Institutions with the largest positions in PCQ as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	Patrick William Galley CEO	$20.7M 1.26% of portfolio	0.00% 2.4M shares	Q1 2023 Held for 2y 8m	$1.7B
K Karpus Management, Inc. Institution	-	$12.0M 0.38% of portfolio	0.00% 1.4M shares	Q3 2025 Held for 2 months	$3.1B
Advisors Asset Management, Inc. ETF Provider	Scott Irvin Colyer CEO	$10.1M 0.17% of portfolio	0.00% 1.2M shares	Q2 2023 Held for 2y 5m	$5.9B
S Saba Capital Management, L.P. Hedge Fund•Multi-Strategy	Boaz Ronald Weinstein Founder	$9.4M 0.32% of portfolio	0.00% 1.1M shares	Q4 2024 Held for 11 months	$3.0B
Hennion & Walsh Asset Management, Inc. RIA/Wealth	Kevin Douglas Mahn President	$9.2M 0.34% of portfolio	0.00% 1.1M shares	Q3 2023 Held for 2y 2m	$2.8B
G GUGGENHEIM CAPITAL LLC Institution	-	$8.7M 0.06% of portfolio	0.00% 999.3K shares	Q4 2022 Held for 2y 11m	$13.4B
Deschutes Portfolio Strategy, LLC RIA/Wealth	Bryn Torkelson President	$8.0M 3.61% of portfolio	0.00% 920.3K shares	Q3 2024 Held for 1y 2m	$222.2M
TORONTO DOMINION BANK Institution	Leo Salom CEO	$7.0M 0.01% of portfolio	0.00% 807.2K shares	Q2 2025 Held for 5 months	$51.2B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$4.7M 0.00% of portfolio	0.00% 533.4K shares	Q4 2022 Held for 2y 11m	$1.65T
Logan Stone Capital, LLC Hedge Fund•Long/Short	Matthew Andrews Herman Managing Partner	$4.4M 2.04% of portfolio	0.00% 499.2K shares	Q4 2023 Held for 1y 11m	$213.8M

Net Capital Flow

Institutional buying and selling activity for PCQ in Q3 2025

Traded: +$94.6M
Buyers: 71
Sellers: 10
Total Bought: +$97.9M
Total Sold: −$3.3M
Avg Position: $1.6M

Biggest Buyers

Institution	Net Bought	Current Position
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	+$13.6M +1.6M shares	$20.7M 2.4M shares
K Karpus Management, Inc. Institution	+$12.0M +1.4M shares	$12.0M 1.4M shares
S Saba Capital Management, L.P. Hedge Fund•Multi-Strategy	+$9.4M +1.1M shares	$9.4M 1.1M shares
Deschutes Portfolio Strategy, LLC RIA/Wealth	+$6.7M +769.0K shares	$8.0M 920.3K shares
TORONTO DOMINION BANK Institution	+$6.6M +760.8K shares	$7.0M 807.2K shares
Advisors Asset Management, Inc. ETF Provider	+$6.4M +733.4K shares	$10.1M 1.2M shares
Hennion & Walsh Asset Management, Inc. RIA/Wealth	+$6.0M +686.8K shares	$9.2M 1.1M shares
G GUGGENHEIM CAPITAL LLC Institution	+$5.0M +575.3K shares	$8.7M 999.3K shares
Logan Stone Capital, LLC Hedge Fund•Long/Short	+$3.1M +356.9K shares	$4.4M 499.2K shares
Thomas J. Herzfeld Advisors, Inc. Long Only Manager	+$1.9M +218.7K shares	$1.9M 218.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
ROBINSON CAPITAL MANAGEMENT, LLC Long Only Manager	−$1.6M −189.0K shares	Sold Off 0 shares
Almitas Capital LLC RIA/Wealth	−$543.8K −62.4K shares	$1.3M 153.0K shares
Level Wealth Management LLC RIA/Wealth	−$332.5K −38.7K shares	Sold Off 0 shares
CNH PARTNERS LLC Hedge Fund•Multi-Strategy	−$217.1K −25.4K shares	Sold Off 0 shares
FIRST FOUNDATION ADVISORS RIA/Wealth	−$143.3K −16.4K shares	$286.0K 32.8K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$139.1K −16.2K shares	Sold Off 0 shares
J JANE STREET GROUP, LLC Institution	−$112.4K −13.1K shares	Sold Off 0 shares
Creative Planning RIA/Wealth	−$103.6K −12.1K shares	Sold Off 0 shares
Morse Asset Management, Inc RIA/Wealth	−$64.9K −7.4K shares	$83.7K 9.6K shares
P PFG Investments, LLC Institution	−$2.3K −259.0 shares	$259.3K 29.7K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited PCQ in Q3 2025

New Positions: 29
New Value: $23.9M
Exited Positions: 6
Exited Value: $2.5M

New Positions

Institution	Position Value
K Karpus Management, Inc. Institution	$12.0M 1.4M shares
Thomas J. Herzfeld Advisors, Inc. Long Only Manager	$1.9M 218.7K shares
CITY OF LONDON INVESTMENT MANAGEMENT CO LTD Long Only Manager	$1.8M 201.6K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$1.4M 156.2K shares
W WHITEBOX ADVISORS LLC Hedge Fund•Multi-Strategy	$1.3M 145.5K shares
RIVERBRIDGE PARTNERS LLC Long Only Manager	$879.4K 100.8K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$657.2K 75.4K shares
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$624.2K 71.6K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$517.5K 59.3K shares
Rareview Capital LLC ETF Provider	$477.7K 55.6K shares

Exited Positions

Institution	Previous Position
ROBINSON CAPITAL MANAGEMENT, LLC Long Only Manager	$1.6M 189.0K shares
Level Wealth Management LLC RIA/Wealth	$332.5K 38.7K shares
CNH PARTNERS LLC Hedge Fund•Multi-Strategy	$217.1K 25.4K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$139.1K 16.2K shares
J JANE STREET GROUP, LLC Institution	$112.4K 13.1K shares
Creative Planning RIA/Wealth	$103.6K 12.1K shares

Options Activity

Institutions with the largest Call and Put options positions in PCQ as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with PCQ as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Deschutes Portfolio Strategy, LLC RIA/Wealth	Bryn Torkelson President	3.61% $8.0M	0.00% 920.3K shares	Q3 2024 Held for 1y 2m	$222.2M
W Williams & Novak, LLC Institution	-	3.07% $4.0M	0.00% 457.1K shares	Q4 2023 Held for 1y 11m	$130.0M
Logan Stone Capital, LLC Hedge Fund•Long/Short	Matthew Andrews Herman Managing Partner	2.04% $4.4M	0.00% 499.2K shares	Q4 2023 Held for 1y 11m	$213.8M
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	Patrick William Galley CEO	1.26% $20.7M	0.00% 2.4M shares	Q1 2023 Held for 2y 8m	$1.7B
MELFA WEALTH MANAGEMENT, LLC RIA/Wealth	Christopher L Wayne CEO	0.91% $1.5M	0.00% 177.7K shares	Q1 2023 Held for 2y 8m	$169.9M
Core Wealth Partners LLC Hedge Fund•Long/Short	Adam Senator Wiatrak Managing Partner	0.66% $1.4M	0.00% 163.7K shares	Q1 2023 Held for 2y 8m	$217.4M
Thomas J. Herzfeld Advisors, Inc. Long Only Manager	Thomas Jay Herzfeld Chairman	0.65% $1.9M	0.00% 218.7K shares	Q3 2025 Held for 2 months	$291.7M
K Karpus Management, Inc. Institution	-	0.38% $12.0M	0.00% 1.4M shares	Q3 2025 Held for 2 months	$3.1B
Hennion & Walsh Asset Management, Inc. RIA/Wealth	Kevin Douglas Mahn President	0.34% $9.2M	0.00% 1.1M shares	Q3 2023 Held for 2y 2m	$2.8B
S Saba Capital Management, L.P. Hedge Fund•Multi-Strategy	Boaz Ronald Weinstein Founder	0.32% $9.4M	0.00% 1.1M shares	Q4 2024 Held for 11 months	$3.0B

Hedge Fund Spotlight

Discover hedge funds investing in PCQ

Saba Capital Management, L.P.

Hedge Fund • Multi-Strategy

Portfolio ManagerBoaz Ronald Weinstein

Portfolio Value: $3.0B
Positions: 244
Last Reported: Q3 2025

Sector Allocation

Position in Pimco California Municipal Income Fund

Market Value: $9.4M
Shares Held: 1.1M
Portfolio Weight: 0.32%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 ECAT BlackRock ESG Capital Allocation Term Trust ECAT	Unknown Unknown	$455.9M	15.37%
2 ASA Gold and Precious Metals ASA	Unknown Unknown	$213.3M	7.19%
3 PIMCO Dynamic Income Strategy Fund PDX	Unknown Unknown	$186.7M	6.30%

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