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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
TI
1
Truepoint Inc
Ohio
$127M +$974K +20,203 +0.8%
Focus Partners Wealth
2
Focus Partners Wealth
Massachusetts
$70.8M +$70.4M +1,459,020 New
FG
3
Foster Group
Iowa
$57.9M -$1.24M -25,762 -2%
GM
4
GeoWealth Management
Illinois
$46.5M +$3.55M +73,626 +8%
BHWM
5
Beaird Harris Wealth Management
Texas
$41.4M +$268K +5,553 +0.7%
Pathstone Holdings
6
Pathstone Holdings
New Jersey
$34.9M -$460K -9,539 -1%
MW
7
MBL Wealth
North Carolina
$33.8M -$131K -2,715 -0.4%
RK
8
Rather & Kittrell
Tennessee
$30.7M +$2.5M +51,929 +9%
Commonwealth Equity Services
9
Commonwealth Equity Services
Massachusetts
$29.2M +$868 +18 +0%
AWM
10
Austin Wealth Management
Texas
$28.6M +$1.17M +24,192 +4%
SFA
11
Sequoia Financial Advisors
Ohio
$27.1M -$1.67M -34,686 -6%
Wealth Enhancement Advisory Services
12
Wealth Enhancement Advisory Services
Minnesota
$23.7M +$605K +12,541 +3%
AC
13
Apella Capital
Connecticut
$22.9M +$1.95M +40,446 +9%
AC
14
AWM Capital
Arizona
$22.5M +$22.4M +464,444 New
PWM
15
PBMares Wealth Management
Virginia
$19.5M +$2.22M +46,136 +13%
RIP
16
RAM Investment Partners
Washington
$18M +$1.13M +23,487 +7%
MWM
17
Mattern Wealth Management
Kansas
$13.7M +$685K +14,196 +5%
AssetMark Inc
18
AssetMark Inc
California
$13.6M -$567K -11,757 -4%
LPL Financial
19
LPL Financial
California
$12.4M +$248K +5,150 +2%
FPAS
20
Focus Partners Advisor Solutions
Missouri
$12.3M +$12.3M +254,254 New
YWM
21
Yardley Wealth Management
Pennsylvania
$12.2M +$12.2M +252,305 New
APC
22
Asset Planning Corporation
Tennessee
$11.8M -$21.6K -448 -0.2%
HighTower Advisors
23
HighTower Advisors
Illinois
$11.5M +$744K +15,430 +7%
GLLW
24
Graves Light Lenhart Wealth
Virginia
$10.7M -$12.5M -260,015 -54%
Bank of America
25
Bank of America
North Carolina
$9.99M +$3.09M +64,114 +45%
1
2 3 4 5

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.