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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
DF
151
DecisionPoint Financial
Arizona
$482K – – –
WCM
152
Warburton Capital Management
Oklahoma
$471K +$475K +9,871 New
Betterment LLC
153
Betterment LLC
New York
$462K +$30.4K +632 +7%
BWG
154
Beta Wealth Group
California
$458K +$23.7K +493 +5%
BH
155
Burk Holdings
Oklahoma
$458K +$461K +9,584 New
GOCP
156
Great Oak Capital Partners
Massachusetts
$453K +$4.24K +88 +0.9%
MWG
157
Martin Worley Group
Utah
$453K +$456K +9,481 New
WP
158
Wealthspan Partners
Iowa
$444K – – –
LWM
159
LJI Wealth Management
Indiana
$436K +$14.4K +300 +3%
CAPTRUST Financial Advisors
160
CAPTRUST Financial Advisors
North Carolina
$431K -$72.1K -1,499 -14%
Morgan Stanley
161
Morgan Stanley
New York
$422K -$101K -2,099 -19%
BI
162
Beckerman Institutional
New Jersey
$421K +$84.1K +1,747 +25%
RFP
163
RCS Financial Planning
Maryland
$419K +$5.63K +117 +1%
XPN
164
XY Planning Network
Montana
$412K +$415K +8,615 New
CC
165
Copperleaf Capital
North Carolina
$408K +$49.2K +1,022 +14%
GJIA
166
Glass Jacobson Investment Advisors
Maryland
$408K +$27.6K +574 +7%
TFP
167
Triune Financial Partners
Kansas
$401K -$139K -2,897 -26%
JWCA
168
J.W. Cole Advisors
Florida
$396K +$11.5K +240 +3%
PAM
169
Pacific Asset Management
Washington
$385K +$388K +8,059 New
ME
170
McIlrath & Eck
Washington
$367K -$85.8K -1,783 -19%
FCI
171
Financial Counselors Inc
Kansas
$364K +$367K +7,622 New
AL
172
Aspiriant LLC
California
$358K – – –
BP
173
BWM Planning
Texas
$353K +$34.5K +717 +11%
FWP
174
Firethorn Wealth Partners
Georgia
$328K -$3.08K -64 -0.9%
AA
175
ArborFi Advisors
Michigan
$327K +$329K +6,847 New
5 6
7
8 9

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.