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Dimensional National Municipal Bond ETF
DFNM

138 hedge funds and large institutions have $674M invested in Dimensional National Municipal Bond ETF in 2023 Q3 according to their latest regulatory filings, with 27 funds opening new positions, 54 increasing their positions, 45 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

145% more first-time investments, than exits

New positions opened: 27 | Existing positions closed: 11

20% more repeat investments, than reductions

Existing positions increased: 54 | Existing positions reduced: 45

17% more capital invested

Capital invested by funds: $574M → $674M (+$100M)

11% more funds holding

Funds holding: 124 → 138 (+14)

6% more funds holding in top 10

Funds holding in top 10: 16 → 17 (+1)

4.83% more ownership

Funds ownership: 67.69% → 72.52% (+4.8%)

Holders
138
Holders Change
+14
Holders Change %
+11.29%
% of All Funds
2.19%
Holding in Top 10
17
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+6.25%
% of All Funds
0.27%
New
27
Increased
54
Reduced
45
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
TI
Truepoint Inc
Ohio
+$85.6M
2
GLLW
Graves Light Lenhart Wealth
Virginia
+$9.67M
3
SIS
Strategic Investment Solutions
Illinois
+$9.35M
4
SC
Savant Capital
Illinois
+$8.3M
5
WFA
West Financial Advisors
Iowa
+$7.98M

Top Sellers

1
PFO
Pathstone Family Office
New Jersey
-$34.4M
2
BHWM
Beaird Harris Wealth Management
Texas
-$5.92M
3
API
Advisor Partners II
California
-$4.67M
4
SFA
Sequoia Financial Advisors
Ohio
-$3.59M
5
Jane Street
Jane Street
New York
-$2.78M
Name Holding Trade Value Shares
Change 		Change in
Stake
TI
1
Truepoint Inc
Ohio
$86.9M +$85.6M +1,808,346 +2,957%
BHWM
2
Beaird Harris Wealth Management
Texas
$52.1M -$5.92M -125,184 -10%
FAAM
3
First Ascent Asset Management
Colorado
$43.6M +$2.42M +51,055 +6%
SFA
4
Sequoia Financial Advisors
Ohio
$37.8M -$3.59M -75,803 -9%
MW
5
MBL Wealth
North Carolina
$30.4M +$2.91M +61,443 +10%
Commonwealth Equity Services
6
Commonwealth Equity Services
Massachusetts
$23.6M +$987K +20,868 +4%
RK
7
Rather & Kittrell
Tennessee
$21M +$554K +11,710 +3%
AWM
8
Austin Wealth Management
Texas
$20.6M +$20.5M +434,088 New
GLLW
9
Graves Light Lenhart Wealth
Virginia
$18.2M +$9.67M +204,464 +108%
RIP
10
RAM Investment Partners
Washington
$12.8M +$57.9K +1,224 +0.4%
APC
11
Asset Planning Corporation
Tennessee
$12.6M -$93.7K -1,980 -0.7%
PWM
12
PBMares Wealth Management
Virginia
$12.1M +$901K +19,052 +8%
MG
13
Mather Group
Illinois
$11.5M -$1.19M -25,147 -9%
MWA
14
Mills Wealth Advisors
Texas
$11M +$7.66M +161,966 +217%
AssetMark Inc
15
AssetMark Inc
California
$10.8M +$437K +9,238 +4%
CIM
16
Confluence Investment Management
Missouri
$10.8M -$55.1K -1,164 -0.5%
IWC
17
Integrated Wealth Concepts
Massachusetts
$10.5M -$3.08K -65 -0%
CFO
18
Collective Family Office
Pennsylvania
$10.1M -$732K -15,463 -7%
MWM
19
Mattern Wealth Management
Kansas
$9.82M +$1.1M +23,293 +12%
SIS
20
Strategic Investment Solutions
Illinois
$9.64M +$9.35M +197,665 +3,379%
LPL Financial
21
LPL Financial
California
$9.55M +$1.01M +21,414 +12%
AC
22
Apella Capital
Connecticut
$8.67M +$142K +3,003 +2%
LFA
23
Landmark Financial Advisors
Kentucky
$8.56M +$4.51M +95,298 +107%
MCA
24
Maryland Capital Advisors
Maryland
$8.55M -$66.5K -1,405 -0.8%
SC
25
Savant Capital
Illinois
$8.16M +$8.3M +175,501 New
1
2 3 4 5

DFNM Hedge Fund Activity: Q3 2023 in Review

138 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q3 2023, worth a combined $674M — up 17% from $574M a quarter earlier.

Buyers outnumbered sellers: 27 funds opened new DFNM positions and 11 closed out — a net gain of 16 holders — while 54 added to existing stakes and 45 trimmed.

The largest buyer was Truepoint Inc, adding an estimated $85.6M. The largest seller was Pathstone Family Office, cutting an estimated $34.4M.

  • 138 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q3 2023, up from 124 in Q2 2023.
  • Funds reported $674M of Dimensional National Municipal Bond ETF stock for Q3 2023, up 17% quarter-over-quarter.
  • 27 funds opened new Dimensional National Municipal Bond ETF positions in Q3 2023 and 11 closed out, a net change of +16 holders.
  • The largest Dimensional National Municipal Bond ETF buyer in Q3 2023 was Truepoint Inc, an estimated $85.6M added.
  • The largest Dimensional National Municipal Bond ETF seller in Q3 2023 was Pathstone Family Office, an estimated $34.4M sold.

Based on aggregated 13F filings for Q3 2023.