Dimensional National Municipal Bond ETF
DFNM
165 hedge funds and large institutions have $802M invested in Dimensional National Municipal Bond ETF in 2023 Q4 according to their latest regulatory filings, with 38 funds opening new positions, 64 increasing their positions, 52 reducing their positions, and 8 closing their positions.
375% more first-time investments, than exits
New positions opened: 38 | Existing positions closed: 8
23% more repeat investments, than reductions
Existing positions increased: 64 | Existing positions reduced: 52
20% more funds holding
Funds holding: 138 → 165 (+27)
19% more capital invested
Capital invested by funds: $674M → $802M (+$128M)
12% more funds holding in top 10
Funds holding in top 10: 17 → 19 (+2)
2.13% less ownership
Funds ownership: 72.52% → 70.38% (-2.1%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BSW
Buckingham Strategic Wealth
Clayton,
Missouri
|
+$32.3M |
| 2 |
TI
Truepoint Inc
Cincinnati,
Ohio
|
+$24M |
| 3 |
LFA
Landmark Financial Advisors
Bowling Green,
Kentucky
|
+$7.23M |
| 4 |
PCA
Prosperity Capital Advisors
Westlake,
Ohio
|
+$5.01M |
| 5 |
AC
Apella Capital
West Hartford,
Connecticut
|
+$3.42M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BHWM
Beaird Harris Wealth Management
Dallas,
Texas
|
-$12.6M |
| 2 |
MG
Mather Group
Chicago,
Illinois
|
-$8.6M |
| 3 |
SIS
Strategic Investment Solutions
Orland Park,
Illinois
|
-$8.29M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$4.82M |
| 5 |
QHA
Quarry Hill Advisors
St Paul,
Minnesota
|
-$3.07M |
DFNM Hedge Fund Activity: Q4 2023 in Review
165 of the 6,869 institutional investors tracked by Wall St. Rank reported a position in Dimensional National Municipal Bond ETF (DFNM) for Q4 2023, worth a combined $802M — up 19% from $674M a quarter earlier.
Buyers outnumbered sellers: 38 funds opened new DFNM positions and 8 closed out — a net gain of 30 holders — while 64 added to existing stakes and 52 trimmed.
The largest buyer was Buckingham Strategic Wealth, adding an estimated $32.3M. The largest seller was Beaird Harris Wealth Management, cutting an estimated $12.6M.
- 165 institutional investors held Dimensional National Municipal Bond ETF (DFNM) as of Q4 2023, up from 138 in Q3 2023.
- Funds reported $802M of Dimensional National Municipal Bond ETF stock for Q4 2023, up 19% quarter-over-quarter.
- 38 funds opened new Dimensional National Municipal Bond ETF positions in Q4 2023 and 8 closed out, a net change of +30 holders.
- The largest Dimensional National Municipal Bond ETF buyer in Q4 2023 was Buckingham Strategic Wealth, an estimated $32.3M added.
- The largest Dimensional National Municipal Bond ETF seller in Q4 2023 was Beaird Harris Wealth Management, an estimated $12.6M sold.
Based on aggregated 13F filings for Q4 2023.