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Dimensional National Municipal Bond ETF
DFNM

124 hedge funds and large institutions have $574M invested in Dimensional National Municipal Bond ETF in 2023 Q2 according to their latest regulatory filings, with 9 funds opening new positions, 61 increasing their positions, 39 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

56% more repeat investments, than reductions

Existing positions increased: 61 | Existing positions reduced: 39

17% more capital invested

Capital invested by funds: $492M → $574M (+$82.4M)

13% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 8

2.9% more ownership

Funds ownership: 64.78% → 67.69% (+2.9%)

1% less funds holding

Funds holding: 125 → 124 (-1)

6% less funds holding in top 10

Funds holding in top 10: 17 → 16 (-1)

Holders
124
Holders Change
-1
Holders Change %
-0.8%
% of All Funds
1.95%
Holding in Top 10
16
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-5.88%
% of All Funds
0.25%
New
9
Increased
61
Reduced
39
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
BHWM
Beaird Harris Wealth Management
Texas
+$59.6M
2
MW
MBL Wealth
North Carolina
+$10.3M
3
LWM
LJI Wealth Management
Indiana
+$6.21M
4
WA
Waverly Advisors
Alabama
+$3.79M
5
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
+$3.67M

Top Sellers

1
SFA
Sequoia Financial Advisors
Ohio
-$20.6M
2
WFAG
Wescott Financial Advisory Group
Pennsylvania
-$2.88M
3
Osaic Holdings
Osaic Holdings
Arizona
-$2.62M
4
TWD
True Wealth Design
Ohio
-$1.94M
5
APC
Asset Planning Corporation
Tennessee
-$1.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
LFGO
26
Legacy Financial Group (Oklahoma)
Oklahoma
$5.6M -$233K -4,881 -4%
Corient Private Wealth
27
Corient Private Wealth
Florida
$5.57M +$332K +6,950 +6%
PWIA
28
Porter White Investment Advisors
Alabama
$5.42M +$87.3K +1,826 +2%
WFAG
29
Wescott Financial Advisory Group
Pennsylvania
$5.26M -$2.88M -60,144 -35%
RIM
30
RW Investment Management
Idaho
$4.67M -$179K -3,742 -4%
FG
31
Foster Group
Iowa
$4.62M +$478 +10 +0%
RVPG
32
Relative Value Partners Group
$4.46M -$923K -19,296 -17%
LFA
33
Landmark Financial Advisors
Kentucky
$4.23M +$1.05M +21,984 +33%
QHA
34
Quarry Hill Advisors
Minnesota
$4.07M -$224K -4,684 -5%
Jane Street
35
Jane Street
New York
$3.88M +$2.68M +56,134 +222%
Envestnet Asset Management
36
Envestnet Asset Management
Illinois
$3.84M +$795K +16,611 +26%
SHWM
37
Silicon Hills Wealth Management
Texas
$3.78M -$624K -13,055 -14%
WA
38
Waverly Advisors
Alabama
$3.78M +$3.79M +79,316 New
MWM
39
Modera Wealth Management
New Jersey
$3.61M +$1.15M +24,067 +46%
MWA
40
Mills Wealth Advisors
Texas
$3.55M -$272K -5,684 -7%
CWM
41
Core Wealth Management
Florida
$3.24M +$31.6K +660 +1%
AIS
42
American Investment Services
Massachusetts
$3.09M +$133K +2,779 +4%
GAM
43
GEM Asset Management
Michigan
$2.96M +$13.2K +275 +0.4%
TI
44
Truepoint Inc
Ohio
$2.91M +$2.93M +61,160 New
VFP
45
Verus Financial Partners
Virginia
$2.67M +$488K +10,204 +22%
PFM
46
Phillips Financial Management
Indiana
$2.43M -$25K -522 -1%
PAG
47
Private Advisor Group
New Jersey
$2.37M +$158K +3,303 +7%
LCM
48
Liberty Capital Management
Michigan
$2.36M +$127K +2,653 +6%
FFM
49
Forum Financial Management
Illinois
$2.32M -$865K -18,081 -27%
SRC
50
Sage Rhino Capital
California
$2.27M +$26.7K +559 +1%
1
2
3 4 5

DFNM Hedge Fund Activity: Q2 2023 in Review

124 of the 6,369 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q2 2023, worth a combined $574M — up 17% from $492M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new DFNM positions and 8 closed out — a net gain of 1 holder — while 61 added to existing stakes and 39 trimmed.

The largest buyer was Beaird Harris Wealth Management, opening a new position worth an estimated $59.6M. The largest seller was Sequoia Financial Advisors, cutting an estimated $20.6M.

  • 124 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q2 2023, down from 125 in Q1 2023.
  • Funds reported $574M of Dimensional National Municipal Bond ETF stock for Q2 2023, up 17% quarter-over-quarter.
  • 9 funds opened new Dimensional National Municipal Bond ETF positions in Q2 2023 and 8 closed out, a net change of +1 holder.
  • The largest Dimensional National Municipal Bond ETF buyer in Q2 2023 was Beaird Harris Wealth Management, an estimated $59.6M added.
  • The largest Dimensional National Municipal Bond ETF seller in Q2 2023 was Sequoia Financial Advisors, an estimated $20.6M sold.

Based on aggregated 13F filings for Q2 2023.