Who Owns Dimensional - National Municipal Bond ETF (DFNM)?Hedge Fund & Institutional Holders

$48.38+0.07 (+0.13%)Financial ServicesNYSE_ARCA

Institutional Holders

50

as of Q4 2025

Total Institutional Value

$InfinityT

% of Float Held

—

QoQ Change in Holders

+13 / -6

Price History

$46.77$47.29$47.80$48.31$48.83Sep 24Jun 25Mar 26

DFNM — Biggest New Institutional Buyers This Quarter

FundActionShares AddedValue Added
Symmetry Partners, LLCNew Position+1.3M+$63.9B
Focus Partners WealthIncreased+1.1M+$52.7B
Rather & Kittrell, Inc.New Position+837K+$40.3B
MBL Wealth, LLCNew Position+707K+$34.1B
AWM CAPITAL, LLCNew Position+701K+$33.7B
COMMONWEALTH EQUITY SERVICES, LLCNew Position+612K+$29.0B
Mattern Wealth Management LLCNew Position+531K+$25.6B
Austin Wealth Management, LLCNew Position+521K+$25.2B
RAM Investment Partners, LLCNew Position+509K+$24.5B
Waterford Advisors, LLCNew Position+527K+$23.8B
ASPIRIANT, LLCNew Position+400K+$19.3B
BANK OF AMERICA CORP /DE/Increased+19K+$17.0B
Resonant Capital Advisors, LLCNew Position+286K+$13.8B
Vestment Financial LLCNew Position+285K+$13.8B
Wheelhouse Advisory Group LLCNew Position+227K+$10.9B

DFNM — Institutions Reducing or Closing Positions

FundActionShares SoldValue Sold
Kovitz Investment Group Partners, LLCClosed Position-216K-$10.4B
RW Investment Management LLCClosed Position-75K-$3.6B
GOLDMAN SACHS GROUP INCDecreased-44K-$2.8B
US BANCORP \DE\Decreased-32K-$1.5B
ROBERTS GLORE & CO INC /IL/Decreased-3K-$988.4M
ROYAL BANK OF CANADADecreased-8K-$955.0M
Foster Group, Inc.Decreased-26K-$945.8M
BROWN BROTHERS HARRIMAN & COClosed Position-17K-$796.5M
MML INVESTORS SERVICES, LLCDecreased-2K-$693.4M
Binnacle Investments IncClosed Position-11K-$530.3M
Cetera Investment AdvisersClosed Position-11K-$514.4M
Creative PlanningDecreased-5K-$504.3M
Dynamic Advisor Solutions LLCClosed Position-9K-$447.8M
Aptus Capital Advisors, LLCDecreased-53-$380.3M
IFG Advisory, LLCDecreased-387-$353.7M

Top Institutional Holders(Q4 2025)

#FundSharesValue% of PortfolioType
1Focus Partners Wealth3,662,918$176.0B0.20%Share
2Truepoint, Inc.2,974,080$143.3B3.22%Share
3Foster Group, Inc.1,465,775$70.6B2.13%Share
4Symmetry Partners, LLC993,006$47.8B2.83%Share
5GeoWealth Management, LLC882,985$42.0B1.55%Share
6Beaird Harris Wealth Management, LLC847,860$40.8B2.81%Share
7Rather & Kittrell, Inc.836,954$40.3B6.49%Share
8MBL Wealth, LLC707,095$34.1B2.73%Share
9AWM CAPITAL, LLC700,642$33.7B3.06%Share
10COMMONWEALTH EQUITY SERVICES, LLC612,168$29.0B0.04%Share
11Mattern Wealth Management LLC531,074$25.6B4.92%Share
12Austin Wealth Management, LLC521,202$25.2B3.72%Share
13RAM Investment Partners, LLC509,229$24.5B4.44%Share
14Waterford Advisors, LLC527,277$23.8B9.31%Share
15ASPIRIANT, LLC400,076$19.3B0.55%Share
16HFM Investment Advisors, LLC366,733$17.7B6.91%Share
17BANK OF AMERICA CORP /DE/353,870$17.0B0.00%Share
18ASSETMARK, INC341,608$16.5B0.03%Share
19Symmetry Partners, LLC333,772$16.1B0.95%Share
20Resonant Capital Advisors, LLC286,265$13.8B0.76%Share
21Vestment Financial LLC284,600$13.8B7.15%Share
22Strathmore Capital Advisors, Inc.289,075$13.0B4.26%Share
23Wheelhouse Advisory Group LLC226,824$10.9B4.16%Share
24DOPKINS WEALTH MANAGEMENT, LLC219,344$10.6B4.32%Share
25CONFLUENCE INVESTMENT MANAGEMENT LLC209,523$10.1B0.15%Share
26ENTREWEALTH, LLC202,926$9.9B4.45%Share
27Vested Financial Planning, LLC204,324$9.8B7.58%Share
2825 LLC202,601$9.8B3.10%Share
29Brady Martz Wealth Solutions, LLC199,139$9.6B1.69%Share
30West Financial Advisors, LLC189,836$9.1B1.54%Share
31Porter White Investment Advisors, Inc.168,955$8.1B3.34%Share
32Citrine Capital LLC166,538$8.0B3.72%Share
33Compass Financial Group, Inc.166,430$8.0B3.54%Share
34MARYLAND CAPITAL ADVISORS INC.147,095$7.1B2.40%Share
35Core Wealth Management, Inc.137,744$6.6B2.07%Share
36VESTIA PERSONAL WEALTH ADVISORS137,023$6.6B3.37%Share
37United Wealth Management, LLC128,778$6.2B1.60%Share
38OSAIC HOLDINGS, INC.144,421$6.0B0.01%Share
39COLLECTIVE FAMILY OFFICE LLC119,354$5.7B1.32%Share
40JPMORGAN CHASE & CO105,036$5.0B0.00%Share
41BCO Wealth Management LLC102,715$4.9B3.03%Share
42MAINSAIL ASSET MANAGEMENT, LLC100,881$4.9B2.08%Share
43Elequin Capital, LP99,324$4.8B0.36%Share
44Forza Wealth Management, LLC97,500$4.7B1.70%Share
45PENNEY FINANCIAL, LLC88,305$4.3B1.64%Share
46Washington Trust Advisors, Inc.80,398$3.9B0.30%Share
47DiNuzzo Private Wealth, Inc.80,070$3.9B0.42%Share
48Wescott Financial Advisory Group, LLC79,203$3.8B0.33%Share
49Aspen Wealth Management LLC72,980$3.5B0.74%Share
50Aurelius Family Office LLC69,393$3.3B1.44%Share

DFNM Institutional Ownership History

QuarterHoldersTotal ValueChange
Q4 2025264$1.2T+133
Q3 2025131$716.2B-91
Q2 2025222$1.1T-12
Q1 2025234$1.1T+63
Q4 2024171$5.1T+57
Q3 2024114$40.3T+10
Q2 2024104$14.4T+2
Q1 2024102$15.0T—

Similar Stocks by Institutional Ownership

1306.T

NEXT FUNDS TOPIX Exchange Traded Fund

152100.KS

PLUS 200

102780.KS

Kodex Samsung Group

1591.T

NEXT FUNDS JPX-Nikkei Index 400 Exchange Traded Fund

VOO

Vanguard S&P 500 ETF

OAKI

Oakmark International Large Cap ETF

BCTK

Baron Technology ETF

JPM

JPMorgan Chase & Co.

As of Q4 2025, 50 institutional investors hold DFNM (Dimensional - National Municipal Bond ETF). The largest holder is Focus Partners Wealth with $176.0B in shares. This quarter, 13 institutions opened new positions and 6 closed their positions.

Frequently Asked Questions

How many hedge funds own DFNM?

As of Q4 2025, 50 institutional investors report holding DFNM (Dimensional - National Municipal Bond ETF) in their 13F filings.

Who is the largest institutional holder of DFNM?

The largest institutional holder of DFNM is Focus Partners Wealth with $176.0B in shares.

Is institutional ownership of DFNM increasing or decreasing?

This quarter, 13 institutions opened new positions in DFNM and 6 closed their positions.