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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
NRWA
76
North Ridge Wealth Advisors
Oregon
$2.22M -$53.1K -1,103 -2%
LCM
77
Liberty Capital Management
Michigan
$2.18M – – –
CSP
78
Cary Street Partners
Virginia
$2.16M +$2.18M +45,291 New
VP
79
Verisail Partners
Georgia
$2.07M +$2.09M +43,335 New
SFP
80
SwitchPoint Financial Planning
Utah
$2.07M +$2.08M +43,241 New
PAG
81
Private Advisor Group
New Jersey
$2.04M -$13.4K -279 -0.6%
EWA
82
Elevate Wealth Advisory
Georgia
$1.97M +$37.3K +775 +2%
WAG
83
Wheelhouse Advisory Group
Missouri
$1.96M +$1.27M +26,429 +181%
2L
84
25 LLC
Missouri
$1.95M +$1.21M +25,202 +162%
HSG
85
Helen Stephens Group
Texas
$1.93M +$64.2K +1,334 +3%
PAS
86
Park Avenue Securities
New York
$1.92M +$46.1K +958 +2%
PFGIA
87
Patriot Financial Group Insurance Agency
Massachusetts
$1.9M -$86.9K -1,806 -4%
SIS
88
Strategic Investment Solutions
Illinois
$1.86M +$217K +4,509 +15%
HHWM
89
Hiley Hunt Wealth Management
Nebraska
$1.84M +$310K +6,434 +20%
OIA
90
OneDigital Investment Advisors
Kansas
$1.83M -$45.7K -949 -2%
PFM
91
Phillips Financial Management
Indiana
$1.78M -$721K -14,986 -29%
SC
92
Shearwater Capital
Colorado
$1.77M +$77.6K +1,612 +5%
SC
93
Savant Capital
Illinois
$1.61M -$350K -7,273 -18%
Jane Street
94
Jane Street
New York
$1.6M +$473K +9,822 +42%
GVAG
95
Great Valley Advisor Group
Delaware
$1.57M +$79.6K +1,654 +5%
BCM
96
Blume Capital Management
California
$1.53M -$683K -14,200 -31%
IWS
97
Integrity Wealth Solutions
Colorado
$1.53M -$15.4K -321 -1%
QHA
98
Quarry Hill Advisors
Minnesota
$1.48M +$175K +3,642 +13%
CAM
99
CPA Asset Management
Florida
$1.45M +$163K +3,397 +13%
Royal Bank of Canada
100
Royal Bank of Canada
Ontario, Canada
$1.39M +$125K +2,603 +10%
2 3
4
5 6

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.