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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
TI
1
Truepoint Inc
Ohio
$129M +$4.28M +88,948 +3%
Focus Partners Wealth
2
Focus Partners Wealth
Massachusetts
$92.1M +$22.6M +469,893 +32%
FG
3
Foster Group
Iowa
$54.7M -$2.39M -49,671 -4%
GM
4
GeoWealth Management
Illinois
$48.1M +$2.33M +48,339 +5%
BHWM
5
Beaird Harris Wealth Management
Texas
$39.1M -$1.64M -34,032 -4%
RK
6
Rather & Kittrell
Tennessee
$33.4M +$3.18M +66,027 +10%
Pathstone Holdings
7
Pathstone Holdings
New Jersey
$33.3M -$1.03M -21,311 -3%
MW
8
MBL Wealth
North Carolina
$33.3M +$57.2K +1,188 +0.2%
Commonwealth Equity Services
9
Commonwealth Equity Services
Massachusetts
$30.2M +$1.45M +30,075 +5%
SFA
10
Sequoia Financial Advisors
Ohio
$29.3M +$2.68M +55,789 +10%
AWM
11
Austin Wealth Management
Texas
$28.7M +$625K +12,995 +2%
AC
12
Apella Capital
Connecticut
$26.4M +$3.95M +82,046 +17%
Wealth Enhancement Advisory Services
13
Wealth Enhancement Advisory Services
Minnesota
$24.1M +$773K +16,074 +3%
FPAS
14
Focus Partners Advisor Solutions
Missouri
$22.4M +$10.3M +214,093 +84%
PWM
15
PBMares Wealth Management
Virginia
$19.9M +$712K +14,795 +4%
AssetMark Inc
16
AssetMark Inc
California
$19.4M +$6.08M +126,336 +45%
RIP
17
RAM Investment Partners
Washington
$19.3M +$1.65M +34,212 +9%
AC
18
AWM Capital
Arizona
$19M -$3.18M -66,000 -14%
SCA
19
Strathmore Capital Advisors
North Carolina
$17.6M +$17.7M +367,620 New
HighTower Advisors
20
HighTower Advisors
Illinois
$16.8M +$5.5M +114,236 +48%
YWM
21
Yardley Wealth Management
Pennsylvania
$14.8M +$2.72M +56,550 +22%
MWM
22
Mattern Wealth Management
Kansas
$14M +$528K +10,968 +4%
Bank of America
23
Bank of America
North Carolina
$13.2M +$3.38M +70,203 +34%
LPL Financial
24
LPL Financial
California
$13.1M +$904K +18,781 +7%
APC
25
Asset Planning Corporation
Tennessee
$12.2M +$575K +11,956 +5%
1
2 3 4 5

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.