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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
RLIM
176
Red Lighthouse Investment Management
New York
$327K +$7.99K +166 +2%
GS
177
GTS Securities
New York
$326K +$328K +6,821 New
EFP
178
Envision Financial Planning
Tennessee
$317K +$33.1K +688 +12%
IA
179
IFG Advisory
Georgia
$317K +$319K +6,632 New
AWA
180
Acorn Wealth Advisors
Michigan
$313K – – –
BFG
181
Bleakley Financial Group
New Jersey
$312K -$203K -4,219 -39%
TSS
182
Two Sigma Securities
New York
$302K +$304K +6,327 New
MWP
183
Meredith Wealth Planning
Illinois
$298K +$2.74K +57 +0.9%
AIP
184
Ameritas Investment Partners
Nebraska
$292K +$2.74K +57 +0.9%
VPF
185
Vantage Point Financial
Illinois
$284K +$286K +5,941 New
CT
186
Colonial Trust
South Carolina
$282K +$48 +1 +0%
SWM
187
Sterling Wealth Management
Illinois
$280K +$674 +14 +0.2%
AQR Capital Management
188
AQR Capital Management
Connecticut
$278K -$1.68K -35 -0.6%
MC
189
McCarthy & Cox
Ohio
$270K -$150K -3,112 -36%
KWM
190
KFG Wealth Management
Indiana
$266K – – –
SPC
191
Sigma Planning Corp
Michigan
$266K +$17.2K +357 +7%
KAM
192
KEB Asset Management
Illinois
$263K +$265K +5,501 New
Comerica Bank
193
Comerica Bank
Texas
$259K – – –
AFA
194
Alpha Financial Advisors
North Carolina
$258K +$57.7K +1,200 +29%
CAG
195
Csenge Advisory Group
Florida
$258K -$433 -9 -0.2%
CA
196
Clune & Associates
Illinois
$254K +$256K +5,320 New
SWM
197
Seaside Wealth Management
California
$249K +$2.31K +48 +0.9%
LPP
198
Life Planning Partners
Florida
$248K +$250K +5,200 New
BCG
199
Breakwater Capital Group
New Jersey
$248K +$25K +519 +11%
DPI
200
Diversified Portfolios Inc
Michigan
$242K -$29.8K -620 -11%
6 7
8
9 10

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.