Dimensional National Municipal Bond ETF
DFNM
108 hedge funds and large institutions have $440M invested in Dimensional National Municipal Bond ETF in 2022 Q4 according to their latest regulatory filings, with 47 funds opening new positions, 44 increasing their positions, 12 reducing their positions, and 8 closing their positions.
488% more first-time investments, than exits
New positions opened: 47 | Existing positions closed: 8
267% more repeat investments, than reductions
Existing positions increased: 44 | Existing positions reduced: 12
240% more funds holding in top 10
Funds holding in top 10: 5 → 17 (+12)
54% more funds holding
Funds holding: 70 → 108 (+38)
54% more capital invested
Capital invested by funds: $287M → $440M (+$154M)
9.09% more ownership
Funds ownership: 56.88% → 65.97% (+9.1%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FAAM
First Ascent Asset Management
Denver,
Colorado
|
+$41.3M |
| 2 |
RK
Rather & Kittrell
Knoxville,
Tennessee
|
+$18.6M |
| 3 |
APC
Asset Planning Corporation
Knoxville,
Tennessee
|
+$14.6M |
| 4 |
CIM
Confluence Investment Management
St. Louis,
Missouri
|
+$11.2M |
| 5 |
MW
MBL Wealth
Charlotte,
North Carolina
|
+$10M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PFO
Pathstone Family Office
Englewood,
New Jersey
|
-$71.3M |
| 2 |
SFA
Sequoia Financial Advisors
Akron,
Ohio
|
-$17.5M |
| 3 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
-$5.01M |
| 4 |
API
Advisor Partners II
Walnut Creek,
California
|
-$4.24M |
| 5 |
DPI
Diversified Portfolios Inc
Bloomfield Hills,
Michigan
|
-$2.01M |
DFNM Hedge Fund Activity: Q4 2022 in Review
108 of the 6,221 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q4 2022, worth a combined $440M — up 54% from $287M a quarter earlier.
Buyers outnumbered sellers: 47 funds opened new DFNM positions and 8 closed out — a net gain of 39 holders — while 44 added to existing stakes and 12 trimmed.
The largest buyer was First Ascent Asset Management, opening a new position worth an estimated $41.3M. The largest seller was Pathstone Family Office, cutting an estimated $71.3M.
- 108 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q4 2022, up from 70 in Q3 2022.
- Funds reported $440M of Dimensional National Municipal Bond ETF stock for Q4 2022, up 54% quarter-over-quarter.
- 47 funds opened new Dimensional National Municipal Bond ETF positions in Q4 2022 and 8 closed out, a net change of +39 holders.
- The largest Dimensional National Municipal Bond ETF buyer in Q4 2022 was First Ascent Asset Management, an estimated $41.3M added.
- The largest Dimensional National Municipal Bond ETF seller in Q4 2022 was Pathstone Family Office, an estimated $71.3M sold.
Based on aggregated 13F filings for Q4 2022.