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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
GWSG
176
GPS Wealth Strategies Group
Colorado
$180K – – –
UBS Group
177
UBS Group
Switzerland
$162K +$161K +3,329 New
SIC
178
SJS Investment Consulting
Ohio
$84K +$7.81K +162 +10%
Jones Financial Companies
179
Jones Financial Companies
Missouri
$67.9K – – –
GWM
180
Geneos Wealth Management
Colorado
$56.1K +$55.7K +1,155 New
CSB
181
City State Bank
Iowa
$50.4K – – –
GRP
182
Global Retirement Partners
California
$46.6K – – –
FHA
183
First Horizon Advisors
Tennessee
$44.8K +$44.5K +922 New
Carson Wealth (CWM LLC)
184
Carson Wealth (CWM LLC)
Nebraska
$44K +$40.6K +842 +1,337%
IA
185
IFP Advisors
Florida
$33.6K +$96 +2 +0.3%
PA
186
Parallel Advisors
California
$22.7K +$145 +3 +0.6%
SRCM
187
Signature Resources Capital Management
California
$22.4K -$241 -5 -1%
AF
188
Advisornet Financial
Minnesota
$14.8K +$96 +2 +0.7%
PG
189
Proffitt & Goodson
Tennessee
$14.5K +$14.4K +298 New
William Blair & Company
190
William Blair & Company
Illinois
$3.98K +$289 +6 +8%
BAM
191
Belpointe Asset Management
Nevada
$299 – – –
Lido Advisors
192
Lido Advisors
California
– -$2.94M -61,500 Closed
SIG
193
Spinnaker Investment Group
California
– -$704K -14,740 Closed
TWM
194
Thrive Wealth Management
Pennsylvania
– -$382K -8,002 Closed
IA
195
IFG Advisory
Georgia
– -$302K -6,328 Closed
PFPT
196
Pinnacle Financial Partners (Tennessee)
Tennessee
– -$204K -4,263 Closed
PMFA
197
Plante Moran Financial Advisors
Michigan
– -$15.8K -331 Closed
CA
198
Clearstead Advisors
Ohio
– -$4.16K -87 Closed
4 5 6 7
8

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.