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Dimensional National Municipal Bond ETF
DFNM

138 hedge funds and large institutions have $674M invested in Dimensional National Municipal Bond ETF in 2023 Q3 according to their latest regulatory filings, with 27 funds opening new positions, 54 increasing their positions, 45 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

145% more first-time investments, than exits

New positions opened: 27 | Existing positions closed: 11

20% more repeat investments, than reductions

Existing positions increased: 54 | Existing positions reduced: 45

17% more capital invested

Capital invested by funds: $574M → $674M (+$100M)

11% more funds holding

Funds holding: 124 → 138 (+14)

6% more funds holding in top 10

Funds holding in top 10: 16 → 17 (+1)

4.83% more ownership

Funds ownership: 67.69% → 72.52% (+4.8%)

Holders
138
Holders Change
+14
Holders Change %
+11.29%
% of All Funds
2.19%
Holding in Top 10
17
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+6.25%
% of All Funds
0.27%
New
27
Increased
54
Reduced
45
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
TI
Truepoint Inc
Ohio
+$85.6M
2
GLLW
Graves Light Lenhart Wealth
Virginia
+$9.67M
3
SIS
Strategic Investment Solutions
Illinois
+$9.35M
4
SC
Savant Capital
Illinois
+$8.3M
5
WFA
West Financial Advisors
Iowa
+$7.98M

Top Sellers

1
PFO
Pathstone Family Office
New Jersey
-$34.4M
2
BHWM
Beaird Harris Wealth Management
Texas
-$5.92M
3
API
Advisor Partners II
California
-$4.67M
4
SFA
Sequoia Financial Advisors
Ohio
-$3.59M
5
Jane Street
Jane Street
New York
-$2.78M
Name Holding Trade Value Shares
Change 		Change in
Stake
RLIM
101
Red Lighthouse Investment Management
New York
$425K +$95 +2 +0%
AF
102
Allworth Financial
California
$422K -$332K -7,009 -44%
CAM
103
CPA Asset Management
Florida
$421K -$9.94K -210 -2%
RCAG
104
Rehmann Capital Advisory Group
Michigan
$409K -$331K -7,000 -44%
Morgan Stanley
105
Morgan Stanley
New York
$401K – – –
2L
106
25 LLC
Missouri
$385K +$8.09K +171 +2%
JP Morgan Chase
107
JP Morgan Chase
New York
$372K +$379K +8,011 New
BWG
108
Beta Wealth Group
California
$362K -$21.9K -462 -6%
TFA
109
Teamwork Financial Advisors
Texas
$357K +$363K +7,679 New
CC
110
Copperleaf Capital
North Carolina
$356K +$61.5K +1,300 +20%
DPI
111
Diversified Portfolios Inc
Michigan
$341K -$106K -2,240 -23%
RFP
112
RCS Financial Planning
Maryland
$327K +$333K +7,042 New
WCA
113
Waypoint Capital Advisors
Minnesota
$321K -$88.8K -1,877 -21%
WA
114
Wealthstream Advisors
New York
$298K – – –
CT
115
Colonial Trust
South Carolina
$267K -$16.4K -347 -6%
BAM
116
Belpointe Asset Management
Nevada
$263K – – –
SPC
117
Sigma Planning Corp
Michigan
$260K +$265K +5,597 New
GB
118
Goepper Burkhardt
South Carolina
$256K – – –
RGC
119
Roberts, Glore & Co
Illinois
$256K – – –
MML Investors Services
120
MML Investors Services
Massachusetts
$255K -$162K -3,416 -38%
Betterment LLC
121
Betterment LLC
New York
$253K +$257K +5,438 New
Comerica Bank
122
Comerica Bank
Texas
$252K +$256K +5,414 New
SWM
123
SeaCrest Wealth Management
New York
$246K – – –
PP
124
PrairieView Partners
Minnesota
$245K – – –
ME
125
McIlrath & Eck
Washington
$216K +$202K +4,269 +1,135%
2 3 4
5
6

DFNM Hedge Fund Activity: Q3 2023 in Review

138 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q3 2023, worth a combined $674M — up 17% from $574M a quarter earlier.

Buyers outnumbered sellers: 27 funds opened new DFNM positions and 11 closed out — a net gain of 16 holders — while 54 added to existing stakes and 45 trimmed.

The largest buyer was Truepoint Inc, adding an estimated $85.6M. The largest seller was Pathstone Family Office, cutting an estimated $34.4M.

  • 138 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q3 2023, up from 124 in Q2 2023.
  • Funds reported $674M of Dimensional National Municipal Bond ETF stock for Q3 2023, up 17% quarter-over-quarter.
  • 27 funds opened new Dimensional National Municipal Bond ETF positions in Q3 2023 and 11 closed out, a net change of +16 holders.
  • The largest Dimensional National Municipal Bond ETF buyer in Q3 2023 was Truepoint Inc, an estimated $85.6M added.
  • The largest Dimensional National Municipal Bond ETF seller in Q3 2023 was Pathstone Family Office, an estimated $34.4M sold.

Based on aggregated 13F filings for Q3 2023.