Franklin Dynamic Municipal Bond

FLMI • ARCA

Franklin Dynamic Municipal Bond is an exchange-traded fund on ARCA. As of Q3 2025, 152 institutional investors hold shares in this ETF, with total holdings valued at $633.7M. LPL Financial LLC is the largest holder with a position valued at $93.4M.

Overview

Overview of institutional ownership in FLMI as of Q3 2025

All Institutions

Institutions: 152
Value Held: $633.7M
Shares Held: 25.6M
Avg Position: $4.2M
Median Position: $749.9K

Hedge Funds

Hedge Funds: 1
Value Held: $1.1M
Shares Held: 43.2K
Avg Position: $1.1M
Median Position: $1.1M

Biggest Investors

Institutions with the largest positions in FLMI as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
L LPL Financial LLC Institution	-	$93.4M 0.03% of portfolio	3.8M shares	Q4 2022 Held for 2y 11m	$340.07B
CLIFTONLARSONALLEN WEALTH ADVISORS, LLC RIA/Wealth	William Clayton Bland CEO	$56.3M 0.89% of portfolio	2.3M shares	Q1 2025 Held for 8 months	$6.3B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$50.8M 0.01% of portfolio	2.0M shares	Q2 2024 Held for 1y 5m	$433.11B
Meeder Advisory Services, Inc. Long Only Manager	Robert Sherman (Jr) Meeder President	$43.0M 2.00% of portfolio	1.7M shares	Q2 2025 Held for 5 months	$2.2B
C Colony Group, LLC Institution	-	$35.3M 0.06% of portfolio	1.4M shares	Q3 2024 Held for 1y 2m	$61.0B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$27.4M 0.01% of portfolio	1.1M shares	Q4 2024 Held for 11 months	$310.43B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$21.7M 0.03% of portfolio	875.2K shares	Q4 2022 Held for 2y 11m	$85.4B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$21.6M 0.00% of portfolio	870.7K shares	Q1 2025 Held for 8 months	$488.50B
C CENTRAL BANK & TRUST CO Institution	-	$17.5M 2.82% of portfolio	705.2K shares	Q3 2023 Held for 2y 2m	$618.8M
A Advisor Group Holdings, Inc. Institution	-	$14.5M 0.02% of portfolio	587.7K shares	Q1 2023 Held for 2y 8m	$71.0B

Net Capital Flow

Institutional buying and selling activity for FLMI in Q3 2025

Traded: +$149.1M
Buyers: 110
Sellers: 34
Total Bought: +$163.5M
Total Sold: −$14.4M
Avg Position: $3.9M

Biggest Buyers

Institution	Net Bought	Current Position
AMERIPRISE FINANCIAL INC Institution	+$24.5M +987.6K shares	$50.8M 2.0M shares
L LPL Financial LLC Institution	+$21.7M +875.0K shares	$93.4M 3.8M shares
WELLS FARGO & COMPANY/MN Institution	+$11.2M +450.8K shares	$21.6M 870.7K shares
BB&T CORP Institution	+$9.8M +396.7K shares	$11.4M 458.8K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$6.9M +280.5K shares	$27.4M 1.1M shares
MORGAN STANLEY RIA/Wealth	+$6.5M +261.8K shares	$6.5M 261.8K shares
S STIFEL FINANCIAL CORP Long Only Manager	+$5.7M +228.7K shares	$7.3M 293.4K shares
TruWealth Advisors, LLC RIA/Wealth	+$5.3M +214.3K shares	$10.8M 434.6K shares
A Advisor Group Holdings, Inc. Institution	+$5.0M +203.8K shares	$14.5M 587.7K shares
Cetera Investment Advisers RIA/Wealth	+$4.9M +195.9K shares	$21.7M 875.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
Wright Fund Managment, LLC Long Only Manager	−$4.4M −178.0K shares	$2.1M 86.3K shares
B BlueStem Wealth Partners, LLC RIA/Wealth	−$1.8M −73.3K shares	$6.0M 244.1K shares
Forefront Analytics, LLC RIA/Wealth	−$1.7M −72.1K shares	Sold Off 0 shares
C CENTRAL BANK & TRUST CO Institution	−$909.9K −36.7K shares	$17.5M 705.2K shares
Financial Advocates Investment Management RIA/Wealth	−$807.5K −32.6K shares	$375.1K 15.1K shares
S ShoreHaven Wealth Partners, LLC RIA/Wealth	−$724.6K −29.3K shares	$1.9M 75.8K shares
Wealthcare Advisory Partners LLC RIA/Wealth	−$632.2K −26.1K shares	Sold Off 0 shares
JPMORGAN CHASE & CO Institution	−$398.9K −16.1K shares	$4.5M 183.3K shares
Diversify Advisory Services, LLC RIA/Wealth	−$388.3K −15.6K shares	$1.6M 66.4K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$256.5K −10.6K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited FLMI in Q3 2025

New Positions: 30
New Value: $25.0M
Exited Positions: 9
Exited Value: $3.1M

New Positions

Institution	Position Value
Legacy Financial Advisors, Inc. RIA/Wealth	$3.7M 149.8K shares
ROBINSON SMITH WEALTH ADVISORS LLC RIA/Wealth	$3.1M 125.7K shares
Summit Financial, LLC RIA/Wealth	$3.0M 120.8K shares
Smartleaf Asset Management LLC Long Only Manager	$2.2M 88.9K shares
PENNEY FINANCIAL, LLC RIA/Wealth	$1.9M 76.5K shares
Sequent Planning LLC RIA/Wealth	$1.3M 53.2K shares
E ELEQUIN CAPITAL LP Hedge Fund•Multi-Strategy	$1.1M 43.2K shares
Uniting Wealth Partners, LLC RIA/Wealth	$1.0M 42.3K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	$1.0M 41.6K shares
IHT Wealth Management, LLC RIA/Wealth	$960.0K 38.8K shares

Exited Positions

Institution	Previous Position
Forefront Analytics, LLC RIA/Wealth	$1.7M 72.1K shares
Wealthcare Advisory Partners LLC RIA/Wealth	$632.2K 26.1K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$256.5K 10.6K shares
Inspire Advisors, LLC RIA/Wealth	$214.7K 8.9K shares
C Crossmark Global Holdings, Inc. Institution	$212.7K 8.8K shares
Park Square Financial Group, LLC RIA/Wealth	$4.9K 200.0 shares
A Atlantic Trust Group, LLC Institution	$7.0 - shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	- 50.0K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	- 156.6K shares

Options Activity

Institutions with the largest Call and Put options positions in FLMI 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 FLMI as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Legacy CG, LLC RIA/Wealth	Steven Gregg Wachs President	3.46% $11.4M	461.7K shares	Q1 2025 Held for 8 months	$330.4M
C CENTRAL BANK & TRUST CO Institution	-	2.82% $17.5M	705.2K shares	Q3 2023 Held for 2y 2m	$618.8M
ROBINSON SMITH WEALTH ADVISORS LLC RIA/Wealth	Tracey Meyers Daigle CCO	2.24% $3.1M	125.7K shares	Q3 2025 Held for 2 months	$139.3M
Meeder Advisory Services, Inc. Long Only Manager	Robert Sherman (Jr) Meeder President	2.00% $43.0M	1.7M shares	Q2 2025 Held for 5 months	$2.2B
A AMERICAN FINANCIAL & TAX STRATEGIES INC RIA/Wealth	Robert James Braglia President	1.56% $3.1M	125.8K shares	Q4 2023 Held for 1y 11m	$200.0M
Prentice Wealth Management LLC RIA/Wealth	Shawn Stephen Tesoro CIO	1.28% $5.2M	208.1K shares	Q4 2024 Held for 11 months	$404.0M
C CROBAN Institution	-	1.16% $1.7M	70.3K shares	Q1 2025 Held for 8 months	$150.1M
ABOUND FINANCIAL, LLC RIA/Wealth	David Alexander Laut Managing Partner	1.13% $2.5M	102.2K shares	Q4 2024 Held for 11 months	$225.0M
Asio Capital, LLC RIA/Wealth	Valerie Birchfield Slater Partner	0.95% $6.4M	257.0K shares	Q2 2025 Held for 5 months	$668.0M
CLIFTONLARSONALLEN WEALTH ADVISORS, LLC RIA/Wealth	William Clayton Bland CEO	0.89% $56.3M	2.3M shares	Q1 2025 Held for 8 months	$6.3B

Hedge Fund Spotlight

Discover hedge funds investing in FLMI

ELEQUIN CAPITAL LP

Hedge Fund • Multi-Strategy

Portfolio ManagerPeter German Gutierrez

Portfolio Value: $864.9M
Positions: 104
Last Reported: Q3 2025

Sector Allocation

Position in Franklin Dynamic Municipal Bond

Market Value: $1.1M
Shares Held: 43.2K
Portfolio Weight: 0.12%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Tesla, Inc. TSLA	Auto - Manufacturers Consumer Cyclical	$204.2M	23.62%
2 Microsoft MSFT	Software - Infrastructure Technology	$77.7M	8.98%
3 Taiwan Semiconductor Manufacturing Company TSM	Semiconductors Technology	$56.6M	6.54%