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Dimensional National Municipal Bond ETF
DFNM

191 hedge funds and large institutions have $1B invested in Dimensional National Municipal Bond ETF in 2024 Q3 according to their latest regulatory filings, with 29 funds opening new positions, 82 increasing their positions, 51 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

314% more first-time investments, than exits

New positions opened: 29 | Existing positions closed: 7

61% more repeat investments, than reductions

Existing positions increased: 82 | Existing positions reduced: 51

12% more funds holding

Funds holding: 170 → 191 (+21)

9% more capital invested

Capital invested by funds: $919M → $1B (+$85.1M)

2.39% more ownership

Funds ownership: 71.38% → 73.77% (+2.4%)

6% less funds holding in top 10

Funds holding in top 10: 17 → 16 (-1)

Holders
191
Holders Change
+21
Holders Change %
+12.35%
% of All Funds
2.74%
Holding in Top 10
16
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-5.88%
% of All Funds
0.23%
New
29
Increased
82
Reduced
51
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Focus Partners Wealth
Focus Partners Wealth
Massachusetts
+$70.4M
2
AC
AWM Capital
Arizona
+$22.4M
3
FPAS
Focus Partners Advisor Solutions
Missouri
+$12.3M
4
GM
GeoWealth Management
Illinois
+$3.55M
5
Bank of America
Bank of America
North Carolina
+$3.09M

Top Sellers

1
GLLW
Graves Light Lenhart Wealth
Virginia
-$12.5M
2
Lido Advisors
Lido Advisors
California
-$2.94M
3
CIM
Confluence Investment Management
Missouri
-$2.1M
4
SFA
Sequoia Financial Advisors
Ohio
-$1.67M
5
MWA
Mills Wealth Advisors
Texas
-$1.35M
Name Holding Trade Value Shares
Change 		Change in
Stake
IWC
26
Integrated Wealth Concepts
Massachusetts
$9.39M +$458K +9,500 +5%
CFGF
27
Compass Financial Group (Florida)
Florida
$9.22M +$115K +2,383 +1%
CIM
28
Confluence Investment Management
Missouri
$9.03M -$2.1M -43,634 -19%
WFA
29
West Financial Advisors
Iowa
$8.94M +$347K +7,202 +4%
MCA
30
Maryland Capital Advisors
Maryland
$8.91M -$18.4K -381 -0.2%
RCA
31
Resonant Capital Advisors
Wisconsin
$7.82M -$81.4K -1,688 -1%
CFO
32
Collective Family Office
Pennsylvania
$7.65M -$652K -13,517 -8%
Corient Private Wealth
33
Corient Private Wealth
Florida
$6.32M +$26.8K +555 +0.4%
SWA
34
Sax Wealth Advisors
New Jersey
$5.4M +$920K +19,084 +21%
Envestnet Asset Management
35
Envestnet Asset Management
Illinois
$5.36M +$459K +9,518 +9%
Stifel Financial
36
Stifel Financial
Missouri
$4.9M +$156K +3,245 +3%
LFGO
37
Legacy Financial Group (Oklahoma)
Oklahoma
$4.78M +$109K +2,254 +2%
PWIA
38
Porter White Investment Advisors
Alabama
$4.67M +$24K +497 +0.5%
EAM
39
Evanson Asset Management
California
$4.65M -$175K -3,633 -4%
AF
40
Allworth Financial
California
$4.62M -$51.2K -1,062 -1%
AIS
41
American Investment Services
Massachusetts
$4.42M -$218K -4,515 -5%
JP Morgan Chase
42
JP Morgan Chase
New York
$4.41M -$19.4K -403 -0.4%
WFAG
43
Wescott Financial Advisory Group
Pennsylvania
$4.4M +$1.93K +40 +0%
RIM
44
RW Investment Management
Idaho
$4.29M -$237K -4,920 -5%
CWM
45
Core Wealth Management
Florida
$4.1M – – –
VFP
46
Verus Financial Partners
Virginia
$3.86M +$68.3K +1,417 +2%
WA
47
Waverly Advisors
Alabama
$3.63M +$70.3K +1,457 +2%
MWM
48
Modera Wealth Management
New Jersey
$3.63M -$380K -7,871 -10%
PCA
49
Prosperity Capital Advisors
Ohio
$3.61M +$116K +2,413 +3%
MWA
50
Mills Wealth Advisors
Texas
$3.6M -$1.35M -27,912 -27%
1
2
3 4 5

DFNM Hedge Fund Activity: Q3 2024 in Review

191 of the 6,964 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q3 2024, worth a combined $1B — up 9.3% from $919M a quarter earlier.

Buyers outnumbered sellers: 29 funds opened new DFNM positions and 7 closed out — a net gain of 22 holders — while 82 added to existing stakes and 51 trimmed.

The largest buyer was Focus Partners Wealth, opening a new position worth an estimated $70.4M. The largest seller was Graves Light Lenhart Wealth, cutting an estimated $12.5M.

  • 191 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q3 2024, up from 170 in Q2 2024.
  • Funds reported $1B of Dimensional National Municipal Bond ETF stock for Q3 2024, up 9.3% quarter-over-quarter.
  • 29 funds opened new Dimensional National Municipal Bond ETF positions in Q3 2024 and 7 closed out, a net change of +22 holders.
  • The largest Dimensional National Municipal Bond ETF buyer in Q3 2024 was Focus Partners Wealth, an estimated $70.4M added.
  • The largest Dimensional National Municipal Bond ETF seller in Q3 2024 was Graves Light Lenhart Wealth, an estimated $12.5M sold.

Based on aggregated 13F filings for Q3 2024.