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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
PFA
101
Pure Financial Advisors
California
$939K +$10.6K +219 +1%
RJA
102
Raymond James & Associates
Florida
$906K +$900K +18,661 New
EIA
103
Eldridge Investment Advisors
New Hampshire
$782K -$288K -5,979 -27%
FOA
104
Five Oceans Advisors
California
$763K – – –
2L
105
25 LLC
Missouri
$754K +$8.82K +183 +1%
DI
106
Disciplined Investments
Oklahoma
$744K -$69.2K -1,434 -9%
WAG
107
Wheelhouse Advisory Group
Missouri
$710K +$706K +14,631 New
WWM
108
Western Wealth Management
Colorado
$696K +$48.4K +1,004 +8%
JTWM
109
Jackson Thornton Wealth Management
Alabama
$643K +$1.74K +36 +0.3%
Cambridge Investment Research Advisors
110
Cambridge Investment Research Advisors
Iowa
$573K +$334K +6,932 +142%
BEW
111
Burton Enright Welch
California
$570K -$23.8K -494 -4%
DAS
112
Dynamic Advisor Solutions
Arizona
$565K -$386 -8 -0.1%
WA
113
Wealthstream Advisors
New York
$564K – – –
TFP
114
Triune Financial Partners
Kansas
$548K +$3.62K +75 +0.7%
RWM
115
Ruedi Wealth Management
Illinois
$531K – – –
Morgan Stanley
116
Morgan Stanley
New York
$531K +$93.9K +1,947 +22%
GFA
117
Grunden Financial Advisory
Texas
$522K +$3.47K +72 +0.7%
RCAG
118
Rehmann Capital Advisory Group
Michigan
$522K +$89K +1,846 +21%
BFG
119
Bleakley Financial Group
New Jersey
$521K +$140K +2,894 +37%
PWA
120
Physician Wealth Advisors
Utah
$516K – – –
CAPTRUST Financial Advisors
121
CAPTRUST Financial Advisors
North Carolina
$511K +$54.3K +1,125 +12%
WP
122
WMS Partners
Maryland
$510K – – –
CFO
123
CVA Family Office
Colorado
$491K +$112K +2,320 +30%
DF
124
DecisionPoint Financial
Arizona
$490K – – –
FCM
125
Family Capital Management
Michigan
$466K +$98.1K +2,035 +27%
3 4
5
6 7

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.