Dimensional National Municipal Bond ETF
DFNM
108 hedge funds and large institutions have $439M invested in Dimensional National Municipal Bond ETF in 2022 Q4 according to their latest regulatory filings, with 47 funds opening new positions, 44 increasing their positions, 12 reducing their positions, and 8 closing their positions.
488% more first-time investments, than exits
New positions opened: 47 | Existing positions closed: 8
267% more repeat investments, than reductions
Existing positions increased: 44 | Existing positions reduced: 12
265% more capital inflows, than outflows
Capital inflows: $255M | Capital outflows: $69.7M
240% more funds holding in top 10
Funds holding in top 10: 5 → 17 (+12)
54% more funds holding
Funds holding: 70 → 108 (+38)
16.11% more ownership
Funds ownership: 49.7% → 65.81% (+16%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
First Ascent Asset Management
Denver,
Colorado
|
+$41.3M |
| 2 |
Rather & Kittrell
Knoxville,
Tennessee
|
+$18.6M |
| 3 |
Asset Planning Corporation
Knoxville,
Tennessee
|
+$14.6M |
| 4 |
Confluence Investment Management
St. Louis,
Missouri
|
+$11.2M |
| 5 |
MBL Wealth
Charlotte,
North Carolina
|
+$10M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Pathstone Family Office
Englewood,
New Jersey
|
-$35.6M |
| 2 |
Sequoia Financial Advisors
Akron,
Ohio
|
-$17.5M |
| 3 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
-$5.01M |
| 4 |
Advisor Partners II
Walnut Creek,
California
|
-$4.24M |
| 5 |
Diversified Portfolios Inc
Bloomfield Hills,
Michigan
|
-$2.01M |
DFNM Hedge Fund Activity: Q4 2022 in Review
108 of the 6,243 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q4 2022, worth a combined $439M — up 75% from $250M a quarter earlier.
Buyers outnumbered sellers: 47 funds opened new DFNM positions and 8 closed out — a net gain of 39 holders — while 44 added to existing stakes and 12 trimmed.
The largest buyer was First Ascent Asset Management, opening a new position worth an estimated $41.3M. The largest seller was Pathstone Family Office, cutting an estimated $35.6M.
- 108 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q4 2022, up from 70 in Q3 2022.
- Funds reported $439M of Dimensional National Municipal Bond ETF stock for Q4 2022, up 75% quarter-over-quarter.
- 47 funds opened new Dimensional National Municipal Bond ETF positions in Q4 2022 and 8 closed out, a net change of +39 holders.
- The largest Dimensional National Municipal Bond ETF buyer in Q4 2022 was First Ascent Asset Management, an estimated $41.3M added.
- The largest Dimensional National Municipal Bond ETF seller in Q4 2022 was Pathstone Family Office, an estimated $35.6M sold.
Based on aggregated 13F filings for Q4 2022.