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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
GAM
51
GEM Asset Management
Michigan
$3.54M -$26.2K -544 -0.7%
FA
52
FF Advisors
California
$3.46M – – –
VPWA
53
Vestia Personal Wealth Advisors
Indiana
$3.02M +$482K +9,995 +19%
US Bancorp
54
US Bancorp
Minnesota
$2.82M – – –
Osaic Holdings
55
Osaic Holdings
Arizona
$2.8M +$335K +6,954 +14%
DPW
56
DiNuzzo Private Wealth
Pennsylvania
$2.56M +$445K +9,225 +21%
PFM
57
Phillips Financial Management
Indiana
$2.54M -$377K -7,814 -13%
MG
58
Mather Group
Illinois
$2.41M -$687K -14,243 -22%
NRWA
59
North Ridge Wealth Advisors
Oregon
$2.31M +$339K +7,031 +17%
Truist Financial
60
Truist Financial
North Carolina
$2.28M +$125K +2,588 +6%
LWMNY
61
Landmark Wealth Management (New York)
New York
$2.25M +$12.2K +253 +0.5%
BCM
62
Blume Capital Management
California
$2.24M +$610K +12,650 +38%
LCM
63
Liberty Capital Management
Michigan
$2.22M – – –
PAG
64
Private Advisor Group
New Jersey
$2.09M +$223K +4,630 +12%
BAAM
65
Baker Avenue Asset Management
California
$2.05M +$417K +8,653 +26%
PFGIA
66
Patriot Financial Group Insurance Agency
Massachusetts
$2.02M +$70.6K +1,464 +4%
SC
67
Savant Capital
Illinois
$1.99M -$71K -1,472 -3%
EWA
68
Elevate Wealth Advisory
Georgia
$1.97M +$7.96K +165 +0.4%
OIA
69
OneDigital Investment Advisors
Kansas
$1.9M -$8.87K -184 -0.5%
PAS
70
Park Avenue Securities
New York
$1.9M -$253K -5,254 -12%
HSG
71
Helen Stephens Group
Texas
$1.9M -$317K -6,584 -14%
SC
72
Shearwater Capital
Colorado
$1.72M +$60.9K +1,263 +4%
Mercer Global Advisors
73
Mercer Global Advisors
Colorado
$1.6M -$58.9K -1,222 -4%
IWS
74
Integrity Wealth Solutions
Colorado
$1.57M -$275K -5,694 -15%
HHWM
75
Hiley Hunt Wealth Management
Nebraska
$1.56M +$314K +6,510 +25%
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.