Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

NUVEEN CALIF AMT FREE MUNI I (NKX)

60 + Investors. Track Smart Money conviction in NKX. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -1
Streak
2Q ▼
Buyers last Q
67%

Smart Money Signals — NKX

Based on 62 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their NKX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 94% of 3.0Y peak

94% of all-time peak
62 funds currently hold this stock — 94% of the 3.0-year high of 66 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding NKX is almost the same as a year ago (-1 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢

More buyers than sellers — 67% buying

31 buying15 selling
Last quarter: 31 funds were net buyers (6 opened a brand new position + 25 added to an existing one). Only 15 were sellers (8 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
➡️

Steady new buyers — ~6 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 8 → 9 → 7 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

69% of holders stayed for 2+ years

■ 69% conviction (2yr+) ■ 19% medium ■ 11% new
43 out of 62 hedge funds have held NKX for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
📊

Peak discovery — momentum slowing

7 → 8 → 9 → 7 → 6 new funds/Q
New funds entering each quarter: 8 → 9 → 7 → 6. NKX is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Deep conviction — 73% of holders stayed 2+ years

■ 73% veterans ■ 11% 1-2yr ■ 16% new
Of 62 current holders: 45 (73%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 52% AUM from top-100 funds

52% from top-100 AUM funds
13 of 62 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in NKX. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.0
out of 10
Low Exit Risk
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — NKX

In 2025 Q4, 31 hedge funds were net buyers of NKX (6 opened a new position, 25 added to an existing one), while 15 reduced or exited (8 trimmed, 7 sold completely) — a 67% buyer ratio, indicating clear institutional accumulation. Net selling has persisted for two consecutive quarters. 52% of total institutional value in NKX is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -1 funds (more exits than new entries). Total institutional holders: 62.

Hedge Fund Ownership: NKX

How many hedge funds hold NKX — quarterly history vs. share price
Quarterly hedge fund ownership of NKX vs. share price

Market Analysis: NKX

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: NKX

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy NUVEEN CALIF AMT FREE MUNI I (NKX) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much NKX has moved relative to its sector benchmark (XLF) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 49d ago
NKX
+4.7%
XLF
+4.8%

NKX outperformed XLF by -0.1% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 4d ago
NKX
-1.0%
XLF
+1.2%

Since the filing became public, NKX outperformed XLF by -2.2% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

6 top-rated funds 0 high-conviction
Consensus
3.7
/ 10
breadth
×
Elite
0.7
/ 10
conviction
Hedge Fund Positioning: NKX
2026 Q1 Stats Unlock in 1 days 60 + Investors

Track Smart Money conviction in NKX. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 60 61 -1.64%
13F Shares 8M 8M 1.14%
Total Value $102M $103M -0.67%
New Positions 6 7 -1
Increased Positions 25 25 -
Closed Positions 7 10 -3
Reduced Positions 8 8 -
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: NKX

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Valuation Measures Data as of: --

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Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

60 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NKX. Verified SEC 13F-HR filings.

QUARTER:
Top 25 institutional holders of NKX — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 DKM Wealth Management, Inc. 1.82% 212,592 $2.5M
2 GK Wealth Management LLC 0.55% 54,096 $635K
3 DWR WEALTH MANAGEMENT, LLC 0.44% 38,541 $479K
4 Rareview Capital LLC 0.41% 58,827 $692K
5 Advisors Asset Management, Inc. 0.21% 1,076,013 $12.8M
6 Pacific Wealth Strategies Group, Inc. 0.21% 28,000 $333K
7 Tortuga Wealth Management, Inc 0.17% 12,600 $157K
8 EHRLICH FINANCIAL GROUP 0.16% 23,012 $274K
9 Hennion & Walsh Asset Management, Inc. 0.14% 350,212 $4.2M
10 Bridgewealth Advisory Group, LLC 0.13% 53,059 $631K
11 LAZARI CAPITAL MANAGEMENT, INC. 0.12% 28,761 $342K
12 MKT Advisors LLC 0.12% 28,883 $344K
13 Blue Zone Wealth Advisors, LLC 0.11% 45,985 $547K
14 Diligent Investors, LLC 0.11% 36,087 $429K
15 Core Wealth Partners LLC 0.10% 18,425 $219K
16 GUGGENHEIM CAPITAL LLC 0.10% 1,074,659 $12.8M
17 Strait & Sound Wealth Management LLC 0.09% 19,718 $235K
18 FORONJY FINANCIAL LLC 0.06% 12,810 $152K
19 Castle Rock Wealth Management, LLC 0.06% 24,192 $289K
20 Apriem Advisors 0.05% 43,436 $517K
21 FLC Capital Advisors 0.04% 17,850 $212K
22 EVOKE WEALTH, LLC 0.03% 143,219 $1.7M
23 WEDBUSH SECURITIES INC 0.03% 76,929 —
24 Maia Wealth LLC 0.03% 12,848 $153K
25 Van Hulzen Asset Management, LLC 0.03% 28,372 $338K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — NUVEEN CALIF AMT FREE MUNI I (NKX)

What does the Smart Money Trend signal show for NKX?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their NKX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for NKX?

More buyers than sellers — 67% buying: Last quarter: 31 funds were net buyers (6 opened a brand new position + 25 added to an existing one). Only 15 were sellers (8 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for NKX holders?

Elite ownership — 52% AUM from top-100 funds: 13 of 62 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in NKX. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held NKX?

69% of holders stayed for 2+ years: 43 out of 62 hedge funds have held NKX for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy NUVEEN CALIF AMT FREE MUNI I (NKX) following the 2026 Q1 hedge fund 13F filings?

As of today, NKX has moved -1.0% since the 2026 Q1 13F filing date (May 15, 2026), compared to +1.2% for the XLF sector ETF — an outperformance of -2.2%. Since the quarter end (March 31, 2026), NKX has gained +4.7% vs +4.8% for XLF. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.