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Dimensional California Municipal Bond ETF
DFCA

54 hedge funds and large institutions have $576M invested in Dimensional California Municipal Bond ETF in 2025 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 23 increasing their positions, 7 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

229% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 7

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

86% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 7

13% more funds holding

Funds holding: 48 → 54 (+6)

7% more capital invested

Capital invested by funds: $538M → $576M (+$38.4M)

1.51% less ownership

Funds ownership: 131.44% → 129.93% (-1.5%)

Holders
54
Holders Change
+6
Holders Change %
+12.5%
% of All Funds
0.71%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.03%
New
13
Increased
23
Reduced
7
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$15.5M
2
Mercer Global Advisors
Mercer Global Advisors
Colorado
+$13.6M
3
SRCM
Signature Resources Capital Management
California
+$3.35M
4
CC
Citrine Capital
California
+$2.41M
5
HighTower Advisors
HighTower Advisors
Illinois
+$2.35M

Top Sellers

Rank Fund Capital Flow
1
BEW
Burton Enright Welch
California
-$941K
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$779K
3
OCM
One Capital Management
California
-$773K
4
FWM
FMB Wealth Management
California
-$618K
5
AC
Apella Capital
Connecticut
-$522K
Name Holding Trade Value Shares
Change 		Change in
Stake
FTUS
26
Flow Traders U.S.
New York
$590K +$289K +5,882 +97%
FNBSF
27
First National Bank Sioux Falls
South Dakota
$466K -$125K -2,549 -21%
RWA
28
Roberts Wealth Advisors
California
$416K -$85.4K -1,738 -17%
RIP
29
RAM Investment Partners
Washington
$410K -$258K -5,258 -39%
BEW
30
Burton Enright Welch
California
$408K -$941K -19,149 -70%
RLIM
31
Red Lighthouse Investment Management
New York
$354K +$35.7K +726 +11%
TIM
32
Tortoise Investment Management
New York
$334K – – –
Pathstone Holdings
33
Pathstone Holdings
New Jersey
$325K +$324K +6,589 New
HWMG
34
Hurlow Wealth Management Group
Indiana
$323K +$323K +6,561 New
FA
35
Fermata Advisors
California
$302K +$301K +6,130 New
RCG
36
Regatta Capital Group
California
$268K +$268K +5,446 New
GCA
37
Gradient Capital Advisors
California
$265K +$265K +5,386 New
AWS
38
Atria Wealth Solutions
New York
$258K +$6.73K +137 +3%
Corient Private Wealth
39
Corient Private Wealth
Florida
$257K – – –
KFS
40
Kaizen Financial Strategies
California
$232K +$232K +4,710 New
RPGK
41
Retirement Planning Group (Kansas)
Kansas
$223K +$222K +4,522 New
Mariner
42
Mariner
Kansas
$218K +$218K +4,430 New
BFG
43
Birch Financial Group
New Hampshire
$200K +$200K +4,065 New
PWM
44
Parkworth Wealth Management
California
$167K +$1.23K +25 +0.7%
IA
45
IFP Advisors
Florida
$98.7K +$49.2K +1,000 +100%
LFG
46
Larson Financial Group
Missouri
$98.6K – – –
NWM
47
Navigoe Wealth Management
California
$98K – – –
FFA
48
Farther Finance Advisors
California
$69.2K – – –
AF
49
Allworth Financial
California
$39.2K – – –
Carson Wealth (CWM LLC)
50
Carson Wealth (CWM LLC)
Nebraska
$37K – – –
1
2
3

DFCA Hedge Fund Activity: Q2 2025 in Review

54 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Dimensional California Municipal Bond ETF (DFCA) for Q2 2025, worth a combined $576M — up 7.1% from $538M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new DFCA positions and 7 closed out — a net gain of 6 holders — while 23 added to existing stakes and 7 trimmed.

The largest buyer was Envestnet Asset Management, adding an estimated $15.5M. The largest seller was Burton Enright Welch, cutting an estimated $941K.

  • 54 institutional investors held Dimensional California Municipal Bond ETF (DFCA) as of Q2 2025, up from 48 in Q1 2025.
  • Funds reported $576M of Dimensional California Municipal Bond ETF stock for Q2 2025, up 7.1% quarter-over-quarter.
  • 13 funds opened new Dimensional California Municipal Bond ETF positions in Q2 2025 and 7 closed out, a net change of +6 holders.
  • The largest Dimensional California Municipal Bond ETF buyer in Q2 2025 was Envestnet Asset Management, an estimated $15.5M added.
  • The largest Dimensional California Municipal Bond ETF seller in Q2 2025 was Burton Enright Welch, an estimated $941K sold.

Based on aggregated 13F filings for Q2 2025.