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Dimensional National Municipal Bond ETF
DFNM

230 hedge funds and large institutions have $1.15B invested in Dimensional National Municipal Bond ETF in 2024 Q4 according to their latest regulatory filings, with 52 funds opening new positions, 103 increasing their positions, 54 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

373% more first-time investments, than exits

New positions opened: 52 | Existing positions closed: 11

91% more repeat investments, than reductions

Existing positions increased: 103 | Existing positions reduced: 54

38% more funds holding in top 10

Funds holding in top 10: 16 → 22 (+6)

20% more funds holding

Funds holding: 191 → 230 (+39)

15% more capital invested

Capital invested by funds: $1B → $1.15B (+$147M)

6.64% more ownership

Funds ownership: 73.77% → 80.41% (+6.6%)

Holders
230
Holders Change
+39
Holders Change %
+20.42%
% of All Funds
3.03%
Holding in Top 10
22
Holding in Top 10 Change
+6
Holding in Top 10 Change %
+37.5%
% of All Funds
0.29%
New
52
Increased
103
Reduced
54
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Focus Partners Wealth
Focus Partners Wealth
Massachusetts
+$22.6M
2
FPAS
Focus Partners Advisor Solutions
Missouri
+$10.3M
3
AssetMark Inc
AssetMark Inc
California
+$6.08M
4
HighTower Advisors
HighTower Advisors
Illinois
+$5.5M
5
TI
Truepoint Inc
Ohio
+$4.28M

Top Sellers

1
AC
AWM Capital
Arizona
-$3.18M
2
FG
Foster Group
Iowa
-$2.39M
3
BHWM
Beaird Harris Wealth Management
Texas
-$1.64M
4
TCBWMS
Texas Capital Bank Wealth Management Services
Texas
-$1.52M
5
CSPIA
Cary Street Partners Investment Advisory
Virginia
-$1.38M
Name Holding Trade Value Shares
Change 		Change in
Stake
GLLW
26
Graves Light Lenhart Wealth
Virginia
$11.1M +$590K +12,266 +6%
IWC
27
Integrated Wealth Concepts
Massachusetts
$9.53M +$300K +6,240 +3%
MCA
28
Maryland Capital Advisors
Maryland
$9.04M +$271K +5,632 +3%
RCA
29
Resonant Capital Advisors
Wisconsin
$8.98M +$1.29M +26,849 +17%
VFP
30
Vested Financial Planning
California
$8.92M +$8.99M +186,803 New
VF
31
Vestment Financial
Minnesota
$8.84M +$8.9M +184,963 New
CFGF
32
Compass Financial Group (Florida)
Florida
$8.77M -$299K -6,223 -3%
CIM
33
Confluence Investment Management
Missouri
$8.48M -$412K -8,564 -5%
WFA
34
West Financial Advisors
Iowa
$8.27M -$530K -11,019 -6%
DWM
35
David Wealth Management
Virginia
$7.95M +$8.01M +166,489 New
CFO
36
Collective Family Office
Pennsylvania
$7.9M +$376K +7,806 +5%
E
37
EntreWealth
Texas
$6.83M +$6.77M +140,593 New
Envestnet Asset Management
38
Envestnet Asset Management
Illinois
$5.56M +$287K +5,963 +5%
VPWA
39
Vestia Personal Wealth Advisors
Indiana
$5.54M +$2.59M +53,801 +87%
Corient Private Wealth
40
Corient Private Wealth
Florida
$5.35M -$876K -18,205 -14%
SWA
41
Sax Wealth Advisors
New Jersey
$4.87M -$448K -9,303 -8%
PWIA
42
Porter White Investment Advisors
Alabama
$4.67M +$72.7K +1,511 +2%
UWM
43
United Wealth Management
Virginia
$4.6M +$4.63M +96,271 New
EAM
44
Evanson Asset Management
California
$4.58M +$3.56K +74 +0.1%
LFGO
45
Legacy Financial Group (Oklahoma)
Oklahoma
$4.52M -$244K -5,069 -5%
AIS
46
American Investment Services
Massachusetts
$4.42M +$68.4K +1,422 +2%
WFAG
47
Wescott Financial Advisory Group
Pennsylvania
$4.31M -$27.2K -566 -0.6%
CWM
48
Core Wealth Management
Florida
$4.3M +$195K +4,049 +5%
AF
49
Allworth Financial
California
$4.21M -$348K -7,237 -8%
JP Morgan Chase
50
JP Morgan Chase
New York
$4.07M -$268K -5,560 -6%
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DFNM Hedge Fund Activity: Q4 2024 in Review

230 of the 7,592 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q4 2024, worth a combined $1.15B — up 15% from $1B a quarter earlier.

Buyers outnumbered sellers: 52 funds opened new DFNM positions and 11 closed out — a net gain of 41 holders — while 103 added to existing stakes and 54 trimmed.

The largest buyer was Focus Partners Wealth, adding an estimated $22.6M. The largest seller was AWM Capital, cutting an estimated $3.18M.

  • 230 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q4 2024, up from 191 in Q3 2024.
  • Funds reported $1.15B of Dimensional National Municipal Bond ETF stock for Q4 2024, up 15% quarter-over-quarter.
  • 52 funds opened new Dimensional National Municipal Bond ETF positions in Q4 2024 and 11 closed out, a net change of +41 holders.
  • The largest Dimensional National Municipal Bond ETF buyer in Q4 2024 was Focus Partners Wealth, an estimated $22.6M added.
  • The largest Dimensional National Municipal Bond ETF seller in Q4 2024 was AWM Capital, an estimated $3.18M sold.

Based on aggregated 13F filings for Q4 2024.