Flagstone Financial Management

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 21, 2026), Flagstone Financial Management reported 77 stock positions worth $447.2 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 28.5% of the portfolio, followed by iShares 5-10Y Inv Grade (IGIB, 10.0%) and Ste STR SPDR PT DW Eu ETF (SPDW, 7.5%). Compared with Q1 2026, it opened 6 new positions, added to 23 and reduced 18. The biggest buy was Dimensional US Eq MKT ETF (DFUS, shares +2%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −0%).

Most Recent 13F
Q2 2026
Location
LINCOLN, NE
CIK
0001968890
Portfolio Value
$447.2M (Q2 2026)
SEC Filing
0001754960-26-000572 ↗ filed Jul 21, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $258.8M Q1 2024 Q2 2024: $268.8M Q2 2024 Q3 2024: $298.2M Q3 2024 Q4 2024: $301.0M Q4 2024 Q1 2025: $310.5M Q1 2025 Q2 2025: $348.9M Q2 2025 Q3 2025: $379.0M Q3 2025 Q4 2025: $389.9M Q4 2025 Q1 2026: $402.9M Q1 2026 Q2 2026: $447.2M $447.2M Q2 2026

Holdings 77 stocks · $447.2M
DFUS Dimensional US Eq MKT ETF 28.50% 1,555,365 $127.4M Add +1.6%
IGIB iShares 5-10Y Inv Grade Corp. 10.03% 843,498 $44.8M Add +4.2%
SPDW Ste STR SPDR PT DW Eu ETF 7.47% 662,916 $33.4M Add +1.8%
SPSB SS SPDR P St C Corp. ETF 6.31% 940,715 $28.2M Add +3.1%
SPTI SS SPDR P Int Term TSY ETF 5.75% 905,461 $25.7M Add +4.5%
AVUV Avantis US Small Cap Value 5.45% 195,332 $24.4M Add +0.9%
BNDX Vanguard Total Intl Bond ETF 5.38% 496,358 $24.0M Add +4.3%
DFEM Dimensional Emrg MRKT Core 4.34% 477,389 $19.4M Reduce -2.1%
AVUS Avantis U.S. Equity ETF 3.79% 132,214 $16.9M Reduce -1.9%
AVDV Avantis Intl S/C Value ETF 3.42% 148,297 $15.3M Add +1.2%
VNQ Vanguard Real Estate ETF 2.61% 120,870 $11.7M Add +3.0%
MUNI PIMCO Intermediate Municipal 2.21% 187,771 $9.9M Add +13.1%
AVEM Avantis Emerging Markets Eq 1.90% 88,013 $8.5M Reduce -4.4%
BRK.B Berkshire Hathaway Inc. Class B 1.35% 12,096 $6.1M Reduce -0.2%
AVDE Avantis International Equity 1.01% 50,816 $4.5M Reduce -1.3%
MUB iShares National Muni Bond E 0.75% 31,197 $3.4M Add +4.4%
AAPL Apple Inc. 0.74% 11,485 $3.3M Reduce -1.5%
DFSU Dimensional US Sus CORE1 ETF 0.58% 55,686 $2.6M Add +3.2%
SPTM SS SPDR P S&P 1500 Comp ETF 0.51% 25,023 $2.3M No change
SUSB iShares ESG Aware 1-5 Year U 0.50% 89,945 $2.2M Add +4.3%
JPM JPMorgan Chase & Co. 0.49% 6,694 $2.2M No change
MSFT Microsoft Corp. 0.43% 5,100 $1.9M Add +0.5%
USB US Bancorp 0.32% 23,693 $1.4M Reduce -3.4%
DFSV Dimensional US Small Cap Val 0.31% 35,430 $1.4M Reduce -5.1%
AVRE Avantis Real Estate ETF 0.31% 29,006 $1.4M Add +0.7%
DFAE Dimensional Emerging Core Eq 0.28% 31,426 $1.3M No change
NVDA Nvidia Corp. 0.23% 5,043 $1.0M Add +0.1%
GOOG Alphabet Inc. Class C 0.22% 2,752 $972K Reduce -6.8%
DFSB Dim GLB Sustain Fix Inc. ETF 0.20% 17,292 $901K Add +0.9%
XOM Exxon Mobil Corp. 0.20% 6,531 $893K Reduce -4.2%
WFC Wells Fargo & Co. 0.20% 10,746 $888K Add +0.1%
DFSI Dimensional Int Sus COR1 ETF 0.20% 19,656 $886K Add +2.7%
IWR iShares Russell Mid-Cap ETF 0.19% 7,823 $863K No change
VTI VG Morningstar TS MKT ETF-US 0.17% 2,068 $765K Reduce -1.0%
VIG Vanguard Dividend Apprec ETF 0.17% 3,190 $755K No change
BRK.A Berkshire Hathaway Inc. Class A 0.17% 1 $749K No change
DE Deere & Co. 0.15% 1,032 $655K No change
VGIT Vanguard Intermediate-Term T 0.14% 10,612 $626K No change
AMZN Amazon.com Inc. 0.14% 2,558 $610K Add +19.0%
MA Mastercard Inc. Class A 0.13% 1,140 $586K No change
DFSE Dimensional Em Sus CORE1 ETF 0.13% 11,545 $564K Reduce -1.4%
MKL Markel Group Inc. 0.12% 282 $551K Add +11.0%
IWM iShares Russell 2000 ETF 0.12% 1,758 $528K No change
JNJ Johnson & Johnson 0.11% 1,906 $484K Reduce -1.6%
ORCL Oracle Corp. 0.11% 3,278 $480K No change
DFAR Dimensional US Real Est ETF 0.11% 18,004 $471K Reduce -14.9%
PEP Pepsico Inc. 0.10% 3,400 $460K No change
CSCO Cisco Systems Inc. 0.09% 3,551 $417K No change
QQQ Invesco QQQ Trust Series 1 0.09% 524 $386K Reduce -2.2%
SPIB SS SPDR P Int C Corp. ETF 0.09% 11,531 $386K No change
DFIV Dimensional International Va 0.08% 6,939 $375K Reduce -5.2%
VEA Vanguard Ftse Developed ETF 0.08% 5,205 $371K Reduce -21.0%
ELS Equity Lifestyle Properties 0.08% 5,677 $366K No change
AMAT Applied Materials Inc. 0.08% 499 $361K New
GOOGL Alphabet Inc. Class A 0.08% 987 $353K No change
STX Seagate Technology Holdings 0.08% 365 $352K New
BOC Boston Omaha Corp. Class A 0.08% 24,775 $338K Add +2.3%
ROK Rockwell Automation Inc. 0.08% 681 $337K No change
WMT Walmart Inc. 0.07% 2,745 $311K No change
UNP Union Pacific Corp. 0.07% 1,093 $297K No change
XLK SS Technology Select Sector 0.06% 1,522 $290K No change
DFAT Dimensional US Target Value 0.06% 4,113 $287K No change
VZ Verizon Communications Inc. 0.06% 6,619 $280K Add +0.2%
XLF SS Financial Select Sector 0.06% 5,227 $280K No change
BAC Bank of America Corp. 0.06% 4,836 $276K No change
ETN Eaton Corp. PLC 0.06% 639 $272K Reduce -3.8%
VLO Valero Energy Corp. 0.06% 1,000 $260K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.06% 337 $252K No change
IEI iShares 3-7 Year Treasury Bo 0.05% 2,042 $240K No change
PM Philip Morris International 0.05% 1,300 $235K No change
IEFA iShares Core MSCI Eafe ETF 0.05% 2,418 $234K No change
PANW Palo Alto Networks Inc. 0.05% 670 $228K New
V Visa Inc. Class A 0.05% 646 $222K New
GILD Gilead Sciences Inc. 0.05% 1,737 $219K No change
D Dominion Energy Inc. 0.05% 3,200 $219K New
CAT Caterpillar Inc. 0.05% 200 $213K New
NEE Nextera Energy Inc. 0.05% 2,333 $205K No change

Portfolio Sells Q1 2026 → Q2 2026
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.2% 1.35% −0.09
XOM Exxon Mobil Corp. Reduce -4.2% 0.20% −0.09
AVDE Avantis International Equity Reduce -1.3% 1.01% −0.07
VEA Vanguard Ftse Developed ETF Reduce -21.0% 0.08% −0.02
DFAR Dimensional US Real Est ETF Reduce -14.9% 0.11% −0.02
DFSV Dimensional US Small Cap Val Reduce -5.1% 0.31% −0.02
DFIV Dimensional International Va Reduce -5.2% 0.08% −0.01
JNJ Johnson & Johnson Reduce -1.6% 0.11% −0.01
ETN Eaton Corp. PLC Reduce -3.8% 0.06% +0.00
DFSE Dimensional Em Sus CORE1 ETF Reduce -1.4% 0.13% +0.00
USB US Bancorp Reduce -3.4% 0.32% +0.00
VTI VG Morningstar TS MKT ETF-US Reduce -1.0% 0.17% +0.00
GOOG Alphabet Inc. Class C Reduce -6.8% 0.22% +0.01
AAPL Apple Inc. Reduce -1.5% 0.74% +0.01
QQQ Invesco QQQ Trust Series 1 Reduce -2.2% 0.09% +0.01
AVEM Avantis Emerging Markets Eq Reduce -4.4% 1.90% +0.06
AVUS Avantis U.S. Equity ETF Reduce -1.9% 3.79% +0.07
DFEM Dimensional Emrg MRKT Core Reduce -2.1% 4.34% +0.16

Portfolio Buys Q1 2026 → Q2 2026
DFUS Dimensional US Eq MKT ETF Add +1.6% 28.50% +1.55
AVUV Avantis US Small Cap Value Add +0.9% 5.45% +0.14
SPDW Ste STR SPDR PT DW Eu ETF Add +1.8% 7.47% +0.09
AMAT Applied Materials Inc. New 0.08% +0.08
STX Seagate Technology Holdings New 0.08% +0.08
MUNI PIMCO Intermediate Municipal Add +13.1% 2.21% +0.06
PANW Palo Alto Networks Inc. New 0.05% +0.05
V Visa Inc. Class A New 0.05% +0.05
D Dominion Energy Inc. New 0.05% +0.05
CAT Caterpillar Inc. New 0.05% +0.05
DFSU Dimensional US Sus CORE1 ETF Add +3.2% 0.58% +0.03
AMZN Amazon.com Inc. Add +19.0% 0.14% +0.03
VNQ Vanguard Real Estate ETF Add +3.0% 2.61% +0.02
NVDA Nvidia Corp. Add +0.1% 0.23% +0.01
BOC Boston Omaha Corp. Class A Add +2.3% 0.08% +0.01
MKL Markel Group Inc. Add +11.0% 0.12% +0.00
DFSI Dimensional Int Sus COR1 ETF Add +2.7% 0.20% −0.00
AVRE Avantis Real Estate ETF Add +0.7% 0.31% −0.01
WFC Wells Fargo & Co. Add +0.1% 0.20% −0.01
DFSB Dim GLB Sustain Fix Inc. ETF Add +0.9% 0.20% −0.02
VZ Verizon Communications Inc. Add +0.2% 0.06% −0.02
SUSB iShares ESG Aware 1-5 Year U Add +4.3% 0.50% −0.03
MUB iShares National Muni Bond E Add +4.4% 0.75% −0.04
MSFT Microsoft Corp. Add +0.5% 0.43% −0.04
AVDV Avantis Intl S/C Value ETF Add +1.2% 3.42% −0.21
BNDX Vanguard Total Intl Bond ETF Add +4.3% 5.38% −0.30
SPTI SS SPDR P Int Term TSY ETF Add +4.5% 5.75% −0.42
SPSB SS SPDR P St C Corp. ETF Add +3.1% 6.31% −0.50
IGIB iShares 5-10Y Inv Grade Corp. Add +4.2% 10.03% −0.67

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 77$447.2MDFUS, IGIB, SPDW, SPSB, SPTI
Q1 2026 71$402.9MDFUS, IGIB, SPDW, SPSB, SPTI
Q4 2025 66$389.9MDFUS, IGIB, SPDW, SPSB, SPTI
Q3 2025 62$379.0MDFUS, IGIB, SPDW, SPSB, SPTI
Q2 2025 59$348.9MDFUS, IGIB, SPDW, SPSB, SPTI
Q1 2025 53$310.5MDFUS, IGIB, SPDW, SPSB, SPTI
Q4 2024 54$301.0MDFUS, IGIB, SPDW, SPSB, SPTI
Q3 2024 53$298.2MDFUS, IGIB, SPDW, SPSB, SPTI
Q2 2024 45$268.8MDFUS, IGIB, SPDW, SPSB, SPTI
Q1 2024 43$258.8MDFUS, SPDW, SPSB, IGIB, SPTI