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Dimensional National Municipal Bond ETF
DFNM

70 hedge funds and large institutions have $287M invested in Dimensional National Municipal Bond ETF in 2022 Q3 according to their latest regulatory filings, with 17 funds opening new positions, 35 increasing their positions, 13 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

183% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 6

169% more repeat investments, than reductions

Existing positions increased: 35 | Existing positions reduced: 13

150% more funds holding in top 10

Funds holding in top 10: 2 → 5 (+3)

107% more capital invested

Capital invested by funds: $139M → $287M (+$148M)

19% more funds holding

Funds holding: 59 → 70 (+11)

16.52% more ownership

Funds ownership: 40.36% → 56.88% (+17%)

Holders
70
Holders Change
+11
Holders Change %
+18.64%
% of All Funds
1.21%
Holding in Top 10
5
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+150%
% of All Funds
0.09%
New
17
Increased
35
Reduced
13
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SFA
Sequoia Financial Advisors
Ohio
+$83M
2
PFO
Pathstone Family Office
New Jersey
+$73.9M
3
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
+$11.4M
4
AssetMark Inc
AssetMark Inc
California
+$7.73M
5
RVPG
Relative Value Partners Group
+$3.91M

Top Sellers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
-$31.8M
2
CWR
Chico Wealth RIA
California
-$16M
3
RCA
Resonant Capital Advisors
Wisconsin
-$1.92M
4
DPI
Diversified Portfolios Inc
Michigan
-$1.67M
5
FSG
Financial Strategies Group
Michigan
-$440K
Name Holding Trade Value Shares
Change 		Change in
Stake
Envestnet Asset Management
26
Envestnet Asset Management
Illinois
$1.71M +$14.9K +310 +0.9%
LWMNY
27
Landmark Wealth Management (New York)
New York
$1.41M -$243K -5,046 -14%
Stifel Financial
28
Stifel Financial
Missouri
$1.4M +$1.44M +30,000 New
PAS
29
Park Avenue Securities
New York
$1.17M +$71.6K +1,488 +6%
FOA
30
Five Oceans Advisors
California
$1.06M -$32.1K -667 -3%
TFA
31
Triad Financial Advisors
North Carolina
$1M +$768K +15,961 +287%
WFA
32
Websterrogers Financial Advisors
South Carolina
$874K -$147K -3,054 -14%
FMWA
33
Forvis Mazars Wealth Advisors
Missouri
$866K +$326K +6,773 +57%
SWM
34
Soundmark Wealth Management
Washington
$863K – – –
BAM
35
Baldrige Asset Management
Pennsylvania
$861K +$348K +7,241 +65%
FWI
36
Facet Wealth Inc
Maryland
$723K +$747K +15,528 New
Osaic Holdings
37
Osaic Holdings
Arizona
$718K +$373K +7,761 +102%
SC
38
Shearwater Capital
Colorado
$690K +$203K +4,211 +40%
WA
39
Wealthstream Advisors
New York
$681K +$703K +14,605 New
KAS
40
Kestra Advisory Services
Texas
$609K +$203K +4,226 +48%
AIS
41
American Investment Services
Massachusetts
$576K +$122K +2,545 +26%
FWP
42
Firethorn Wealth Partners
Georgia
$565K +$17.1K +356 +3%
PPW
43
Parcion Private Wealth
Washington
$556K – – –
Truist Financial
44
Truist Financial
North Carolina
$511K -$56.7K -1,179 -10%
FTUS
45
Flow Traders U.S.
New York
$473K +$24K +498 +5%
WFA
46
West Financial Advisors
Iowa
$473K +$488K +10,142 New
AC
47
Avestar Capital
New York
$468K -$34K -707 -7%
WCA
48
Waypoint Capital Advisors
Minnesota
$410K +$422K +8,779 New
SWA
49
Sax Wealth Advisors
New Jersey
$397K +$181K +3,770 +79%
QA
50
Quantitative Advantage
Minnesota
$383K -$62.1K -1,291 -14%
1
2
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DFNM Hedge Fund Activity: Q3 2022 in Review

70 of the 5,805 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q3 2022, worth a combined $287M — up 107% from $139M a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new DFNM positions and 6 closed out — a net gain of 11 holders — while 35 added to existing stakes and 13 trimmed.

The largest buyer was Sequoia Financial Advisors, opening a new position worth an estimated $83M. The largest seller was Jane Street, cutting an estimated $31.8M.

  • 70 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q3 2022, up from 59 in Q2 2022.
  • Funds reported $287M of Dimensional National Municipal Bond ETF stock for Q3 2022, up 107% quarter-over-quarter.
  • 17 funds opened new Dimensional National Municipal Bond ETF positions in Q3 2022 and 6 closed out, a net change of +11 holders.
  • The largest Dimensional National Municipal Bond ETF buyer in Q3 2022 was Sequoia Financial Advisors, an estimated $83M added.
  • The largest Dimensional National Municipal Bond ETF seller in Q3 2022 was Jane Street, an estimated $31.8M sold.

Based on aggregated 13F filings for Q3 2022.