Summit Financial Strategies 13F: Exits CMF Stake

Summit Financial Strategies has closed out its position in the iShares California Muni Bond ETF (NYSEArca: CMF), according to a Form 13F filing with the SEC on October 14, 2026. Institutional 13F reports look backward at a fund's holdings at the close of a quarter, so the disclosure may not reflect where the investment stands today.

Inside Summit Financial Strategies's iShares California Muni Bond ETF Trade

During the period, Summit Financial Strategies sold out of the fund entirely. The firm cut its stake by 3,480 shares, bringing its ending share count down to zero compared to 3,480 shares previously.

iShares California Muni Bond ETF Stock Holds Steady

The fund recently traded around $54.78 as of October 16, 2026. The shares sit about 1.2% below the 50-day moving average of $55.42 and roughly 3.7% below the 200-day moving average of $56.90. Over the past 52 weeks, the ETF has traded as low as $53.62 and as high as $58.44. The fund offers a dividend yield of roughly 3.13%.

Dividend

The iShares California Muni Bond ETF pays an annualized dividend yield of about 3.13%, distributing income derived from municipal debt issued within the state of California.

About iShares California Muni Bond ETF

iShares California Muni Bond ETF is an exchange-traded fund that tracks an index of municipal bonds issued in California. The interest paid on these underlying bonds is generally exempt from federal income taxes and the federal alternative minimum tax. The fund typically invests the vast majority of its assets in index-compliant fixed-income securities to match the performance of its target benchmark.

Bottom Line

Institutional filings offer a helpful look at how professional managers adjust their fixed-income portfolios over time. Investors tracking CMF will want to watch future 13F disclosures to see if other wealth managers follow Summit Financial Strategies in trimming or exiting municipal bond exposure. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.