D
Dimensional National Municipal Bond
DFNM • ARCA
Dimensional National Municipal Bond is an exchange-traded fund on ARCA. As of Q3 2025, 240 institutional investors hold shares in this ETF, with total holdings valued at $1.4B. Truepoint, Inc. is the largest holder with a position valued at $137.2M.
Overview
Overview of institutional ownership in DFNM as of Q3 2025
All Institutions
- Institutions
- 240
- Value Held
- $1.4B
- Shares Held
- 28.9M
- Avg Position
- $5.8M
- Median Position
- $1.2M
Hedge Funds
- Hedge Funds
- 1
- Value Held
- $4.8K
- Shares Held
- 100.0
- Avg Position
- $4.8K
- Median Position
- $4.8K
Biggest Investors
Institutions with the largest positions in DFNM as of Q3 2025
| Institution | Position Value |
|---|---|
 Truepoint, Inc. RIA/Wealth | $137.2M 3.19% of portfolio |
C Colony Group, LLC Institution | $123.3M 0.20% of portfolio |
 Foster Group, Inc. RIA/Wealth | $71.6M 2.25% of portfolio |
 GeoWealth Management, LLC RIA/Wealth | $41.5M 1.52% of portfolio |
 Beaird Harris Wealth Management, LLC RIA/Wealth | $40.1M 2.85% of portfolio |
 Buckingham Strategic Partners RIA/Wealth | $39.9M 0.45% of portfolio |
 Sequoia Financial Advisors, LLC RIA/Wealth | $39.2M 0.24% of portfolio |
 Pathstone Holdings, LLC Family Office | $39.0M 0.15% of portfolio |
 Rather & Kittrell, Inc. RIA/Wealth | $37.0M 6.48% of portfolio |
 MBL Wealth, LLC RIA/Wealth | $32.6M 2.89% of portfolio |
Net Capital Flow
Institutional buying and selling activity for DFNM in Q3 2025
- Traded
- +$106.2M
- Buyers
- 157
- Sellers
- 69
- Total Bought
- +$133.8M
- Total Sold
- −$27.6M
- Avg Position
- $5.5M
Biggest Buyers
| Institution | Net Bought |
|---|---|
C Colony Group, LLC Institution | +$23.0M +479.3K shares |
Truepoint, Inc. RIA/Wealth | +$10.6M +222.0K shares |
 AWM CAPITAL, LLC RIA/Wealth | +$8.7M +181.2K shares |
Buckingham Strategic Partners RIA/Wealth | +$6.5M +136.3K shares |
 Savant Capital, LLC RIA/Wealth | +$4.1M +84.7K shares |
 Washington Trust Advisors, Inc. RIA/Wealth | +$3.9M +81.5K shares |
 GOLDMAN SACHS GROUP INC Institution | +$3.8M +78.9K shares |
R RAM Investment Partners, LLC Institution | +$3.8M +78.7K shares |
A Austin Wealth Management, LLC RIA/Wealth | +$3.5M +72.1K shares |
 SEVEN MILE ADVISORY RIA/Wealth | +$3.2M +66.5K shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
P | −$2.4M −51.4K shares |
 Liberty Capital Management, Inc. RIA/Wealth | −$2.1M −44.5K shares |
O OLD MISSION CAPITAL LLC Institution | −$1.8M −37.8K shares |
 Evanson Asset Management, LLC RIA/Wealth | −$1.6M −33.0K shares |
−$1.5M −30.3K shares | |
 Strathmore Capital Advisors, Inc. RIA/Wealth | −$1.4M −28.4K shares |
C Concord Asset Management, LLC/VA RIA/Wealth | −$1.3M −27.9K shares |
C CI Private Wealth, LLC RIA/Wealth | −$1.3M −27.5K shares |
 Warren Averett Asset Management, LLC RIA/Wealth | −$1.3M −26.1K shares |
 Mattern Wealth Management LLC RIA/Wealth | −$1.2M −24.6K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited DFNM in Q3 2025
- New Positions
- 15
- New Value
- $14.0M
- Exited Positions
- 12
- Exited Value
- $11.1M
New Positions
| Institution | Position Value |
|---|---|
Washington Trust Advisors, Inc. RIA/Wealth | $3.9M 81.5K shares |
SEVEN MILE ADVISORY RIA/Wealth | $3.2M 66.5K shares |
 PENNEY FINANCIAL, LLC RIA/Wealth | $1.5M 31.7K shares |
 PFG Private Wealth Management, LLC RIA/Wealth | $864.7K 18.0K shares |
J JP Wealth Management, Inc. RIA/Wealth | $809.4K 16.9K shares |
 Aegis Wealth Management LLC RIA/Wealth | $719.7K 15.0K shares |
 Capstone Wealth Management, LLC RIA/Wealth | $624.7K 13.0K shares |
M MB Generational Wealth, LLC RIA/Wealth | $588.8K 12.3K shares |
V Vise Technologies, Inc. Institution | $431.4K 9.0K shares |
 Foundations Investment Advisors, LLC RIA/Wealth | $388.5K 8.1K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
P | $2.4M 51.4K shares |
Liberty Capital Management, Inc. RIA/Wealth | $2.1M 44.5K shares |
O OLD MISSION CAPITAL LLC Institution | $1.8M 37.8K shares |
C Concord Asset Management, LLC/VA RIA/Wealth | $1.3M 27.9K shares |
 THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager | $937.0K 19.8K shares |
 Main Street Financial Solutions, LLC RIA/Wealth | $640.4K 13.5K shares |
 Fundamentun, LLC RIA/Wealth | $449.4K 9.5K shares |
 LJI Wealth Management, LLC RIA/Wealth | $428.9K 9.0K shares |
 KWMG, LLC RIA/Wealth | $365.7K 7.7K shares |
 Equitable Holdings, Inc. Institution | $254.7K 5.4K shares |
Options Activity
Institutions with the largest Call and Put options positions in DFNM as of Q3 2025
- Call Positions
- 0
- Call Value
- -
- Put Positions
- 0
- Put Value
- -
Call Positions
| Institution | Position Value |
|---|---|
| No call positions found | |
Put Positions
| Institution | Position Value |
|---|---|
| No put positions found | |
Most Committed Institutions
Institutions with DFNM as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
 Yardley Wealth Management LLC RIA/Wealth | 7.62% $13.6M |
 Vested Financial Planning, LLC RIA/Wealth | 7.53% $9.3M |
 HFM Investment Advisors, LLC RIA/Wealth | 7.30% $18.0M |
V Vestment Financial LLC Institution | 6.95% $12.2M |
Rather & Kittrell, Inc. RIA/Wealth | 6.48% $37.0M |
Mattern Wealth Management LLC RIA/Wealth | 5.07% $25.4M |
 ASSET PLANNING CORPORATION RIA/Wealth | 5.03% $10.3M |
Strathmore Capital Advisors, Inc. RIA/Wealth | 4.55% $11.1M |
 SENTINEL WEALTH MANAGEMENT, INC. RIA/Wealth | 4.29% $4.9M |
 ENTREWEALTH, LLC RIA/Wealth | 4.21% $8.1M |
Hedge Fund Spotlight
Discover hedge funds investing in DFNM
E
ELEQUIN CAPITAL LP
Hedge Fund • Multi-Strategy
Portfolio ManagerPeter German Gutierrez
- Portfolio Value
- $864.9M
- Positions
- 104
- Last Reported
- Q3 2025
Sector Allocation
D
Position in Dimensional National Municipal Bond
- Market Value
- $4.8K
- Shares Held
- 100.0
- Portfolio Weight
- 0.00%
- Owned Since
- 2025-Q1
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Auto - Manufacturers Consumer Cyclical | $204.2M | 23.62% | |
Software - Infrastructure Technology | $77.7M | 8.98% | |
Semiconductors Technology | $56.6M | 6.54% |
