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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
RIM
51
RW Investment Management
Idaho
$3.93M -$289K -6,004 -7%
PCA
52
Prosperity Capital Advisors
Ohio
$3.92M +$366K +7,599 +10%
VWM
53
Vermillion Wealth Management
Minnesota
$3.85M +$3.88M +80,554 New
VFP
54
Verus Financial Partners
Virginia
$3.85M +$61.5K +1,278 +2%
Stifel Financial
55
Stifel Financial
Missouri
$3.73M -$1.1M -22,902 -23%
WA
56
Waverly Advisors
Alabama
$3.7M +$120K +2,504 +3%
MWM
57
Modera Wealth Management
New Jersey
$3.65M +$82.8K +1,721 +2%
TCM
58
Tassel Capital Management
North Carolina
$3.53M +$3.56M +73,884 New
GAM
59
GEM Asset Management
Michigan
$3.52M +$28.4K +590 +0.8%
Osaic Holdings
60
Osaic Holdings
Arizona
$3.34M +$590K +12,271 +21%
DPW
61
DiNuzzo Private Wealth
Pennsylvania
$3.09M +$573K +11,918 +23%
TFO
62
Timonier Family Office
North Carolina
$2.96M +$2.99M +62,065 New
AFO
63
Aurelius Family Office
New Hampshire
$2.87M +$2.89M +60,102 New
Financial Engines Advisors
64
Financial Engines Advisors
California
$2.83M +$1.43M +29,668 +100%
BWM
65
BCO Wealth Management
New Mexico
$2.81M +$2.83M +58,899 New
US Bancorp
66
US Bancorp
Minnesota
$2.78M – – –
DWM
67
Dopkins Wealth Management
New York
$2.75M +$2.57M +53,447 +1,300%
FA
68
FF Advisors
California
$2.69M -$762K -15,840 -22%
MWA
69
Mills Wealth Advisors
Texas
$2.65M -$905K -18,804 -25%
PP
70
PrairieView Partners
Minnesota
$2.54M +$1.2M +24,871 +88%
CC
71
Citrine Capital
California
$2.47M +$2.49M +51,671 New
Truist Financial
72
Truist Financial
North Carolina
$2.36M +$120K +2,487 +5%
LWMNY
73
Landmark Wealth Management (New York)
New York
$2.29M +$72.8K +1,513 +3%
BAAM
74
Baker Avenue Asset Management
California
$2.27M +$253K +5,255 +12%
MG
75
Mather Group
Illinois
$2.22M -$150K -3,120 -6%
1 2
3
4 5

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.