Welcome to our dedicated page for BlackRock CA Municipal Income SEC filings (Ticker: BFZ), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
BlackRock California Municipal Income Trust's SEC filings provide detailed transparency into the fund's municipal bond holdings, investment strategy, and financial condition. As a closed-end fund, BFZ files regular reports with the Securities and Exchange Commission that reveal the specific California municipal bonds held in the portfolio, their credit ratings, maturity profiles, and geographic distribution across the state.
The fund's semi-annual reports (N-CSR) and annual reports (N-CSR) offer comprehensive portfolio schedules showing every bond position, allowing investors to evaluate credit exposure across different California municipalities, school districts, water authorities, and other issuers. These filings also detail the fund's use of leverage, derivative positions, expense ratios, and performance metrics. For closed-end fund investors, the discount or premium to net asset value becomes a key consideration, and these reports provide the data needed to calculate this relationship.
Form 4 filings track insider transactions by fund directors and officers, revealing when those closest to the fund's operations choose to buy or sell shares. Proxy statements (DEF 14A) disclose director compensation, fund expenses, and governance matters that shareholders vote on. Our AI-powered summaries explain complex municipal bond disclosures, translating technical bond terminology and credit analysis into accessible insights for investors evaluating this California-focused tax-exempt income fund.
Saba Capital Management and related reporting persons filed Amendment No. 20 to a Schedule 13D for BlackRock California Municipal Income Trust1,428,411 common shares, representing 4.75% of the trust’s common shares, based on 30,063,645 shares outstanding as of 8/18/25 as disclosed in a prior proxy. Saba-managed funds and accounts have the right to receive dividends and sale proceeds from these shares.
The filing states that approximately
Saba Capital Management, L.P. filed Amendment No. 19 to Schedule 13D on BlackRock California Municipal Income Trust (BFZ), reporting beneficial ownership of 1,731,238 common shares, or 5.76% of the class as of the event date 11/12/2025. Saba, its GP, and Boaz R. Weinstein report shared voting and dispositive power over these shares and no sole power.
The filing states that approximately $18,951,308 was paid to acquire the reported shares, using investor subscription proceeds, capital appreciation, and ordinary-course margin borrowings. The percentage is based on 30,063,645 shares outstanding as of 8/18/2025, as disclosed by the issuer. Item 4 (Purpose of Transaction) is listed as Not Applicable.
Saba Capital Management filed Amendment No. 18 to Schedule 13D for BlackRock California Municipal Income Trust (BFZ), reporting beneficial ownership of 2,211,986 common shares, representing 7.36% of the class. The filing cites 30,063,645 shares outstanding as of 8/18/25 to calculate the percentage.
Saba and related reporting persons report shared voting and dispositive power over 2,211,986 shares and no sole power. They disclose that approximately $24,213,902 was paid to acquire the reported shares. The date of the event requiring the filing is 10/31/2025. Recent open‑market transactions between 10/14/25 and 10/31/25 are referenced in Schedule A.
Saba Capital and affiliated persons report a 9.7% stake in BlackRock California Municipal Income Trust (BFZ), totaling 2,917,268 common shares. The Schedule 13D/A (Amendment No. 16) shows the holdings are shared voting and dispositive power, funded from investor subscriptions, capital appreciation and margin borrowing, with approximately $31,934,397 paid to acquire the reported shares. The percentage is calculated using 30,063,645 shares outstanding as disclosed in the issuer's DEF 14A. This amendment updates Items 3, 5 and 7 and incorporates open-market transactions through 9/16/2025 by reference to Schedule A.
Saba Capital Management, L.P. reported sales of shares in BlackRock California Municipal Income Trust (BFZ). The filing shows an indirect disposition of 36,969 common shares on 09/11/2025 at $10.96 per share and 23,604 common shares on 09/12/2025 at $10.95 per share, totaling 60,573 shares sold. After these transactions, the reporting person beneficially owned 2,997,865 shares indirectly. The Form 4 is signed by representatives of Saba Capital and Boaz Weinstein on 09/15/2025, indicating the disclosure of these insider sales.
Saba Capital Management and Boaz Weinstein reported two small open-market disposals of BlackRock California Municipal Income Trust (BFZ) common stock on 09/09/2025 and 09/10/2025. The filings show sales of 24,916 shares at $10.77 and 24,054 shares at $10.87, reducing Saba's indirect holdings from 3,082,492 to 3,058,438 shares. The report lists the reporters as a director and a 10% owner.
Insider sale reported for BFZ. Saba Capital Management, L.P. and Boaz Weinstein filed a Form 4 disclosing a sale on 09/08/2025 of 136,042 shares of BlackRock California Municipal Income Trust (ticker BFZ) at a price of $10.69 per share. After the transaction the reporting persons state they beneficially own 3,107,408 shares indirectly. The filing indicates the reporters are identified as a director and a 10% owner and that the Form 4 was signed on 09/09/2025.
Saba Capital and affiliated filers reported a 10.79% stake in BlackRock California Municipal Income Trust (BFZ), beneficially owning 3,243,450 common shares. The position is held with shared voting and dispositive power only; no sole voting or dispositive power is reported. The Reporting Persons state approximately $35,505,007 was paid to acquire these shares, funded from investor subscriptions, capital appreciation and margin borrowings. This amendment (No. 15) updates Items 3, 5 and 7 and references open-market transactions through 9/5/2025. The filing cites 30,063,645 shares outstanding as the basis for the 10.79% calculation.
BlackRock CA Municipal Inc. (BFZ) and Municipal Income Trust (MUC) present a proposed reorganization in which BFZ (Target Fund) would be combined into MUC (Acquiring Fund). Each Target Fund VRDP Share will be exchanged on a one-for-one basis for a newly issued Acquiring Fund VRDP Share with a par value of $0.10 and a $100,000 liquidation preference; no fractional VRDP Shares will be issued and the terms of issued VRDP Shares will be identical and rank on parity with existing Acquiring Fund VRDP Shares. In connection with the Reorganization the Acquiring Fund expects to issue 1,713 additional VRDP Shares, bringing pro forma VRDP Shares outstanding to 6,977 with an aggregate liquidation preference of $697,700,000 and pro forma total managed assets of $2,375,941,028.04. The filing discloses potential tax items: built-in gains or losses post-Reorganization may produce taxable distributions to shareholders, ownership-change rules may limit use of pre-change losses, and tax-exempt status of certain instruments (including TOB Residuals and municipal securities) is not assured. The Proxy describes fund governance, service providers, portfolio composition limits, ratings criteria, and other operational and liquidity considerations.
Saba Capital Management, L.P. and Boaz Weinstein reported insider sales of BlackRock California Municipal Income Trust (BFZ) common stock on 09/04/2025 and 09/05/2025. On 09/04/2025 a sale of 18,965 shares at $10.46 was reported, leaving 3,591,901 shares beneficially owned (indirect). On 09/05/2025 a sale of 348,451 shares at $10.57 was reported, leaving 3,243,450 shares beneficially owned (indirect).
The Form 4 shows the reporting persons as Saba Capital Management, L.P. and Boaz Weinstein and indicates the filings were signed on 09/08/2025. The transactions are non-derivative sales; no derivative transactions are reported.
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