Davis Select Financial ETF
DFNL
55 hedge funds and large institutions have $280M invested in Davis Select Financial ETF in 2025 Q4 according to their latest regulatory filings, with 12 funds opening new positions, 24 increasing their positions, 10 reducing their positions, and 2 closing their positions.
500% more first-time investments, than exits
New positions opened: 12 | Existing positions closed: 2
140% more repeat investments, than reductions
Existing positions increased: 24 | Existing positions reduced: 10
32% more capital invested
Capital invested by funds: $212M → $280M (+$67.5M)
20% more funds holding
Funds holding: 46 → 55 (+9)
0.8% less ownership
Funds ownership: 70.23% → 69.43% (-0.8%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
+$39.5M |
| 2 |
Morgan Stanley
New York
|
+$2.31M |
| 3 |
Raymond James Financial
St Petersburg,
Florida
|
+$2.31M |
| 4 |
LPL Financial
San Diego,
California
|
+$1.4M |
| 5 |
HH
Hilltop Holdings
Dallas,
Texas
|
+$1.34M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FTUS
Flow Traders U.S.
New York
|
-$510K |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$263K |
| 3 |
GS
GTS Securities
Miami,
Florida
|
-$207K |
| 4 |
Stifel Financial
St. Louis,
Missouri
|
-$168K |
| 5 |
PFS
Prospera Financial Services
Dallas,
Texas
|
-$55.8K |
DFNL Hedge Fund Activity: Q4 2025 in Review
55 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in Davis Select Financial ETF (DFNL) for Q4 2025, worth a combined $280M — up 32% from $212M a quarter earlier.
Buyers outnumbered sellers: 12 funds opened new DFNL positions and 2 closed out — a net gain of 10 holders — while 24 added to existing stakes and 10 trimmed.
The largest buyer was Thrivent Financial for Lutherans, opening a new position worth an estimated $39.5M. The largest seller was Flow Traders U.S., exiting entirely with an estimated $510K sold.
- 55 institutional investors held Davis Select Financial ETF (DFNL) as of Q4 2025, up from 46 in Q3 2025.
- Funds reported $280M of Davis Select Financial ETF stock for Q4 2025, up 32% quarter-over-quarter.
- 12 funds opened new Davis Select Financial ETF positions in Q4 2025 and 2 closed out, a net change of +10 holders.
- The largest Davis Select Financial ETF buyer in Q4 2025 was Thrivent Financial for Lutherans, an estimated $39.5M added.
- The largest Davis Select Financial ETF seller in Q4 2025 was Flow Traders U.S., an estimated $510K sold.
Based on aggregated 13F filings for Q4 2025.