Dimensional National Municipal Bond ETF
DFNM
125 hedge funds and large institutions have $492M invested in Dimensional National Municipal Bond ETF in 2023 Q1 according to their latest regulatory filings, with 24 funds opening new positions, 60 increasing their positions, 27 reducing their positions, and 5 closing their positions.
380% more first-time investments, than exits
New positions opened: 24 | Existing positions closed: 5
122% more repeat investments, than reductions
Existing positions increased: 60 | Existing positions reduced: 27
16% more funds holding
Funds holding: 108 → 125 (+17)
12% more capital invested
Capital invested by funds: $440M → $492M (+$51.4M)
0% more funds holding in top 10
Funds holding in top 10: 17 → 17 (0)
1.19% less ownership
Funds ownership: 65.97% → 64.78% (-1.2%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PFO
Pathstone Family Office
Englewood,
New Jersey
|
+$35.6M |
| 2 |
IWC
Integrated Wealth Concepts
Waltham,
Massachusetts
|
+$9.62M |
| 3 |
API
Advisor Partners II
Walnut Creek,
California
|
+$7.39M |
| 4 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
+$6.21M |
| 5 |
MW
MBL Wealth
Charlotte,
North Carolina
|
+$6.16M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SEIA
Signature Estate & Investment Advisors
Los Angeles,
California
|
-$4.51M |
| 2 |
OMC
Old Mission Capital
Chicago,
Illinois
|
-$4.41M |
| 3 |
Jane Street
New York
|
-$3.01M |
| 4 |
CWR
Chico Wealth RIA
Chico,
California
|
-$2.83M |
| 5 |
Renaissance Technologies
New York
|
-$1.95M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
CWR
126
Chico Wealth RIA
Chico,
California
| – | -$2.83M | -59,105 | Closed |
|
|
127
Renaissance Technologies
New York
| – | -$1.95M | -40,800 | Closed |
|
128
Creative Planning
Overland Park,
Kansas
| – | -$220K | -4,607 | Closed |
|
|
TSS
129
Two Sigma Securities
New York
| – | -$211K | -4,419 | Closed |
|
|
IGWM
130
ICA Group Wealth Management
Denver,
Colorado
| – | -$12.5K | -262 | Closed |
|
DFNM Hedge Fund Activity: Q1 2023 in Review
125 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q1 2023, worth a combined $492M — up 12% from $440M a quarter earlier.
Buyers outnumbered sellers: 24 funds opened new DFNM positions and 5 closed out — a net gain of 19 holders — while 60 added to existing stakes and 27 trimmed.
The largest buyer was Pathstone Family Office, adding an estimated $35.6M. The largest seller was Signature Estate & Investment Advisors, cutting an estimated $4.51M.
- 125 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q1 2023, up from 108 in Q4 2022.
- Funds reported $492M of Dimensional National Municipal Bond ETF stock for Q1 2023, up 12% quarter-over-quarter.
- 24 funds opened new Dimensional National Municipal Bond ETF positions in Q1 2023 and 5 closed out, a net change of +19 holders.
- The largest Dimensional National Municipal Bond ETF buyer in Q1 2023 was Pathstone Family Office, an estimated $35.6M added.
- The largest Dimensional National Municipal Bond ETF seller in Q1 2023 was Signature Estate & Investment Advisors, an estimated $4.51M sold.
Based on aggregated 13F filings for Q1 2023.