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.
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%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
+$15.5M |
| 2 |
Mercer Global Advisors
Denver,
Colorado
|
+$13.6M |
| 3 |
SRCM
Signature Resources Capital Management
Newport Beach,
California
|
+$3.35M |
| 4 |
CC
Citrine Capital
San Francisco,
California
|
+$2.41M |
| 5 |
HighTower Advisors
Chicago,
Illinois
|
+$2.35M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BEW
Burton Enright Welch
Walnut Creek,
California
|
-$941K |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$779K |
| 3 |
OCM
One Capital Management
Westlake Village,
California
|
-$773K |
| 4 |
FWM
FMB Wealth Management
Westlake Village,
California
|
-$618K |
| 5 |
AC
Apella Capital
West Hartford,
Connecticut
|
-$522K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
EWA
51
EverSource Wealth Advisors
Birmingham,
Alabama
| $24.9K | +$197 | +4 | +0.8% |
|
|
SC
52
SouthState Corp
Winter Haven,
Florida
| $15.5K | +$15.5K | +315 | New |
|
|
HI
53
Horizon Investments
Charlotte,
North Carolina
| $1.43K | – | – | – |
|
|
BIA
54
Bell Investment Advisors
Oakland,
California
| $1.29K | – | – | – |
|
|
55
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$779K | -15,708 | Closed |
|
|
FWM
56
FMB Wealth Management
Westlake Village,
California
| – | -$618K | -12,458 | Closed |
|
|
AC
57
Apella Capital
West Hartford,
Connecticut
| – | -$522K | -10,683 | Closed |
|
|
MWG
58
Martin Worley Group
Cottonwood Heights,
Utah
| – | -$450K | -9,064 | Closed |
|
|
EAM
59
Evanson Asset Management
Carmel,
California
| – | -$296K | -5,977 | Closed |
|
60
Citadel Advisors
Miami,
Florida
| – | -$210K | -4,234 | Closed |
|
61
UBS Group
Zurich,
Switzerland
| – | -$1.39K | -28 | Closed |
|
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.