Who owns Dimensional - National Municipal Bond ETF?
Institutional ownership of DFNM from SEC Form 13F filings across 125 reporting managers. All positions are from one synchronized reporting period — 2026-06-30 books, filed up to 45 days after quarter end — so every row is comparable.
125
13F holders
$947.5M
value, 2026 filers
42.1%
of shares outstanding (19.7M sh)
13
new positions (2026 filers)
Top institutional holders
ordered by shares owned · positions as of 2026-06-30· % of fund = share of the manager's own book · % of co. = share of DFNM's shares outstanding
| # | Manager | Shares | Value | % of fund | % of co. | Δ shares QoQ |
|---|---|---|---|---|---|---|
| 1 | Focus Partners Wealth | 5.1M | $245.0M | 0.3% | 10.8% | +20.1% |
| 2 | Focus Partners Advisor Solutions, LLC | 1.6M | $79.6M | 0.7% | 3.5% | +36.9% |
| 3 | Apella Capital, LLC | 1.6M | $76.8M | 1.1% | 3.4% | +20.5% |
| 4 | Sequoia Financial Advisors, LLC | 896,162 | $43.3M | 0.2% | 1.9% | +1.8% |
| 5 | Pathstone Holdings, LLC | 808,791 | $39.1M | 0.1% | 1.7% | +2.6% |
| 6 | Beaird Harris Wealth Management, LLC | 796,384 | $38.5M | 2.4% | 1.7% | +0.1% |
| 7 | COMMONWEALTH EQUITY SERVICES, LLC | 672,029 | $32.5M | 0.0% | 1.4% | +2.9% |
| 8 | RAM Investment Partners, LLC | 583,595 | $28.2M | 4.5% | 1.2% | +13.0% |
| 9 | LPL Financial LLC | 578,747 | $28.0M | 0.0% | 1.2% | +11.6% |
| 10 | Mattern Wealth Management LLC | 548,877 | $26.5M | 4.4% | 1.2% | +3.5% |
| 11 | BANK OF AMERICA CORP /DE/ | 481,181 | $23.3M | 0.0% | 1% | +15.0% |
| 12 | HFM Investment Advisors, LLC | 428,712 | $20.7M | 7.3% | 0.9% | +19.7% |
| 13 | Integrated Wealth Concepts LLC | 391,663 | $18.9M | 0.1% | 0.8% | +91.3% |
| 14 | Savant Capital, LLC | 376,015 | $18.2M | 0.1% | 0.8% | +21.0% |
| 15 | ASSETMARK, INC | 350,598 | $16.9M | 0.0% | 0.7% | +5.4% |
| 16 | HighTower Advisors, LLC | 290,185 | $14.0M | 0.0% | 0.6% | -50.8% |
| 17 | Brady Martz Wealth Solutions, LLC | 272,899 | $13.2M | 2.0% | 0.6% | +10.2% |
| 18 | Allworth Financial LP | 237,528 | $11.5M | 0.0% | 0.5% | +4.4% |
| 19 | OSAIC HOLDINGS, INC. | 230,567 | $11.1M | 0.0% | 0.5% | +273.2% |
| 20 | West Financial Advisors, LLC | 215,661 | $10.4M | 1.6% | 0.5% | +6.8% |
| 21 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 212,330 | $10.2M | 0.0% | 0.5% | +1.9% |
| 22 | ENVESTNET ASSET MANAGEMENT INC | 203,458 | $9.8M | 0.0% | 0.4% | +46.8% |
| 23 | Plancorp, LLC | 201,949 | $9.7M | 0.2% | 0.4% | +14.8% |
| 24 | 25 LLC | 195,416 | $9.4M | 2.6% | 0.4% | -6.1% |
| 25 | Concurrent Investment Advisors, LLC | 162,601 | $7.9M | 0.1% | 0.3% | -15.4% |
Source: SEC Form 13F-HR filings (institutional managers over $100M in US-listed positions). 13Fs disclose long positions only, up to 45 days after quarter end; each manager's latest filed quarter is shown per row and dollar values are the manager's filed marks. Aggregates labeled "2026 filers" count only managers whose latest book is a 2026 quarter. Related: valuation · options positioning · supply chain. Research, not investment advice.