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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
TCBWMS
76
Texas Capital Bank Wealth Management Services
Texas
$1.52M – – –
GVAG
77
Great Valley Advisor Group
Delaware
$1.52M +$11.6K +241 +0.8%
Financial Engines Advisors
78
Financial Engines Advisors
California
$1.44M +$1.43M +29,668 New
MML Investors Services
79
MML Investors Services
Massachusetts
$1.44M +$663K +13,754 +87%
SIS
80
Strategic Investment Solutions
Illinois
$1.41M -$3.42K -71 -0.2%
WWWM
81
White Wing Wealth Management
Texas
$1.41M +$83K +1,721 +6%
ODA
82
One Degree Advisors
California
$1.39M -$66.8K -1,385 -5%
PP
83
PrairieView Partners
Minnesota
$1.38M -$3.86K -80 -0.3%
CSPIA
84
Cary Street Partners Investment Advisory
Virginia
$1.38M +$1.07M +22,095 +354%
BBHC
85
Brown Brothers Harriman & Co
New York
$1.33M +$1.32M +27,375 New
QHA
86
Quarry Hill Advisors
Minnesota
$1.32M +$318K +6,598 +32%
CAM
87
CPA Asset Management
Florida
$1.31M -$12K -248 -0.9%
Royal Bank of Canada
88
Royal Bank of Canada
Ontario, Canada
$1.28M +$3.28K +68 +0.3%
PWS
89
Physician Wealth Solutions
Nevada
$1.24M – – –
SRC
90
Sage Rhino Capital
California
$1.18M -$303K -6,288 -21%
WFA
91
Websterrogers Financial Advisors
South Carolina
$1.16M +$137K +2,846 +14%
Jane Street
92
Jane Street
New York
$1.15M +$1.14M +23,635 New
OA
93
Oceanside Advisors
South Carolina
$1.14M +$6.17K +128 +0.5%
SIAG
94
Safeguard Investment Advisory Group
California
$1.11M +$21.7K +449 +2%
ACA
95
Aptus Capital Advisors
Alabama
$1.09M +$1.05M +21,755 +3,614%
W
96
WPWealth
Texas
$1.08M -$16.3K -339 -2%
HWMC
97
Heritage Wealth Management (California)
California
$1.06M +$74K +1,534 +8%
IAG
98
Investmark Advisory Group
Connecticut
$1.05M – – –
MSFS
99
Main Street Financial Solutions
Pennsylvania
$1.01M – – –
RGC
100
Roberts, Glore & Co
Illinois
$1,000K -$48.2K -1,000 -5%
2 3
4
5 6

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.