Flagstone Financial Management
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 1, 2024), Flagstone Financial Management reported 43 stock positions worth $258.8 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 27.9% of the portfolio, followed by Ste STR SPDR PT DW Eu ETF (SPDW, 8.5%) and SS SPDR P St C Corp. ETF (SPSB, 7.8%). Compared with Q4 2023, it opened 2 new positions, sold out of 3, added to 15 and reduced 14. The biggest buy was a new position in iShares 5-10Y Inv Grade (IGIB) and the biggest sale SS SPDR P Int C Corp. ETF (SPIB, shares −63%).
- Most Recent 13F
- Q2 2026
- Location
- LINCOLN, NE
- CIK
- 0001968890
- Portfolio Value
- $258.8M (Q1 2024)
- SEC Filing
- 0001968890-24-000002 ↗ filed May 1, 2024
Holdings Value
Holdings 43 stocks · $258.8M
| DFUS Dimensional US Eq MKT ETF | 27.85% | 1,265,302 | $72.1M | Add +1.0% |
| SPDW Ste STR SPDR PT DW Eu ETF | 8.51% | 614,489 | $22.0M | Add +0.2% |
| SPSB SS SPDR P St C Corp. ETF | 7.81% | 679,097 | $20.2M | Reduce -15.4% |
| IGIB iShares 5-10Y Inv Grade Corp. | 7.19% | 360,579 | $18.6M | New |
| SPTI SS SPDR P Int Term TSY ETF | 6.27% | 575,570 | $16.2M | Add +4.2% |
| BNDX Vanguard Total Intl Bond ETF | 5.67% | 298,536 | $14.7M | Add +4.5% |
| AVUV Avantis US Small Cap Value | 5.46% | 150,766 | $14.1M | Add +1.4% |
| AVUS Avantis U.S. Equity ETF | 4.02% | 116,124 | $10.4M | Add +3.9% |
| AVDV Avantis Intl S/C Value ETF | 3.93% | 154,586 | $10.2M | Reduce -0.6% |
| DFEM Dimensional Emrg MRKT Core | 3.90% | 396,250 | $10.1M | Add +27.9% |
| AVEM Avantis Emerging Markets Eq | 3.07% | 137,282 | $8.0M | Reduce -22.5% |
| SPIB SS SPDR P Int C Corp. ETF | 2.90% | 229,744 | $7.5M | Reduce -63.0% |
| VNQ Vanguard Real Estate ETF | 2.69% | 80,485 | $7.0M | Add +2.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.70% | 10,451 | $4.4M | Reduce -0.6% |
| AVDE Avantis International Equity | 1.33% | 54,001 | $3.4M | Reduce -1.7% |
| MUNI PIMCO Intermediate Municipal | 1.04% | 51,416 | $2.7M | Add +75.1% |
| MSFT Microsoft Corp. | 0.77% | 4,726 | $2.0M | Reduce -1.3% |
| SUSB iShares ESG Aware 1-5 Year U | 0.75% | 79,702 | $2.0M | Reduce -5.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.49% | 2 | $1.3M | No change |
| AAPL Apple Inc. | 0.41% | 6,205 | $1.1M | Add +1.9% |
| USB US Bancorp | 0.37% | 21,615 | $966K | Reduce -0.9% |
| VIG Vanguard Dividend Apprec ETF | 0.37% | 5,176 | $945K | No change |
| DFAE Dimensional Emerging Core Eq | 0.30% | 31,663 | $783K | Add +0.3% |
| AVRE Avantis Real Estate ETF | 0.29% | 17,865 | $755K | Add +6.1% |
| XOM Exxon Mobil Corp. | 0.27% | 5,967 | $694K | No change |
| WFC Wells Fargo & Co. | 0.25% | 11,176 | $648K | Reduce -0.3% |
| JPM JPMorgan Chase & Co. | 0.24% | 3,105 | $622K | Reduce -5.3% |
| VGIT Vanguard Intermediate-Term T | 0.19% | 8,379 | $491K | No change |
| MUB iShares National Muni Bond E | 0.17% | 4,143 | $446K | Reduce -2.2% |
| DFAR Dimensional US Real Est ETF | 0.17% | 19,274 | $431K | No change |
| CPBI Central Plains Bancshares Inc. | 0.16% | 41,462 | $424K | Add +2.5% |
| GOOG Alphabet Inc. Class C | 0.16% | 2,771 | $422K | Reduce -17.1% |
| IWR iShares Russell Mid-Cap ETF | 0.16% | 4,922 | $414K | No change |
| MKL Markel Group Inc. | 0.15% | 254 | $386K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.15% | 1,465 | $381K | Add +1.9% |
| UNP Union Pacific Corp. | 0.13% | 1,334 | $328K | No change |
| DFIV Dimensional International Va | 0.12% | 8,416 | $309K | Reduce -5.2% |
| IWM iShares Russell 2000 ETF | 0.12% | 1,465 | $308K | No change |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.11% | 4,545 | $292K | No change |
| IEI iShares 3-7 Year Treasury Bo | 0.09% | 2,034 | $236K | Add +4.4% |
| PEP Pepsico Inc. | 0.09% | 1,298 | $227K | No change |
| DFAT Dimensional US Target Value | 0.09% | 4,113 | $224K | No change |
| DFSU Dimensional US Sus CORE1 ETF | 0.09% | 6,496 | $224K | New |
Portfolio Sells Q4 2023 → Q1 2024
| SPIB SS SPDR P Int C Corp. ETF | Reduce -63.0% | 2.90% | −5.46 |
| SPSB SS SPDR P St C Corp. ETF | Reduce -15.4% | 7.81% | −1.98 |
| AVEM Avantis Emerging Markets Eq | Reduce -22.5% | 3.07% | −1.02 |
| SUB iShares Short-Term National | Sold out | 0.00% | −0.46 |
| NVDA Nvidia Corp. | Sold out | 0.00% | −0.40 |
| VGSH Vanguard Short-Term Treasury | Sold out | 0.00% | −0.10 |
| SUSB iShares ESG Aware 1-5 Year U | Reduce -5.6% | 0.75% | −0.09 |
| AVDV Avantis Intl S/C Value ETF | Reduce -0.6% | 3.93% | −0.05 |
| GOOG Alphabet Inc. Class C | Reduce -17.1% | 0.16% | −0.03 |
| AVDE Avantis International Equity | Reduce -1.7% | 1.33% | −0.03 |
| MUB iShares National Muni Bond E | Reduce -2.2% | 0.17% | −0.02 |
| USB US Bancorp | Reduce -0.9% | 0.37% | −0.01 |
| DFIV Dimensional International Va | Reduce -5.2% | 0.12% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -5.3% | 0.24% | +0.01 |
| WFC Wells Fargo & Co. | Reduce -0.3% | 0.25% | +0.02 |
| MSFT Microsoft Corp. | Reduce -1.3% | 0.77% | +0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.6% | 1.70% | +0.16 |
Portfolio Buys Q4 2023 → Q1 2024
| IGIB iShares 5-10Y Inv Grade Corp. | New | 7.19% | +7.19 |
| DFUS Dimensional US Eq MKT ETF | Add +1.0% | 27.85% | +1.26 |
| DFEM Dimensional Emrg MRKT Core | Add +27.9% | 3.90% | +0.74 |
| MUNI PIMCO Intermediate Municipal | Add +75.1% | 1.04% | +0.41 |
| AVUS Avantis U.S. Equity ETF | Add +3.9% | 4.02% | +0.28 |
| DFSU Dimensional US Sus CORE1 ETF | New | 0.09% | +0.09 |
| VTI VG Morningstar TS MKT ETF-US | Add +1.9% | 0.15% | +0.01 |
| IEI iShares 3-7 Year Treasury Bo | Add +4.4% | 0.09% | −0.00 |
| CPBI Central Plains Bancshares Inc. | Add +2.5% | 0.16% | −0.01 |
| AVRE Avantis Real Estate ETF | Add +6.1% | 0.29% | −0.01 |
| AVUV Avantis US Small Cap Value | Add +1.4% | 5.46% | −0.01 |
| DFAE Dimensional Emerging Core Eq | Add +0.3% | 0.30% | −0.01 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +0.2% | 8.51% | −0.03 |
| AAPL Apple Inc. | Add +1.9% | 0.41% | −0.07 |
| BNDX Vanguard Total Intl Bond ETF | Add +4.5% | 5.67% | −0.11 |
| VNQ Vanguard Real Estate ETF | Add +2.7% | 2.69% | −0.15 |
| SPTI SS SPDR P Int Term TSY ETF | Add +4.2% | 6.27% | −0.20 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 77 | $447.2M | DFUS, IGIB, SPDW, SPSB, SPTI |
| Q1 2026 | 71 | $402.9M | DFUS, IGIB, SPDW, SPSB, SPTI |
| Q4 2025 | 66 | $389.9M | DFUS, IGIB, SPDW, SPSB, SPTI |
| Q3 2025 | 62 | $379.0M | DFUS, IGIB, SPDW, SPSB, SPTI |
| Q2 2025 | 59 | $348.9M | DFUS, IGIB, SPDW, SPSB, SPTI |
| Q1 2025 | 53 | $310.5M | DFUS, IGIB, SPDW, SPSB, SPTI |
| Q4 2024 | 54 | $301.0M | DFUS, IGIB, SPDW, SPSB, SPTI |
| Q3 2024 | 53 | $298.2M | DFUS, IGIB, SPDW, SPSB, SPTI |
| Q2 2024 | 45 | $268.8M | DFUS, IGIB, SPDW, SPSB, SPTI |
| Q1 2024 | 43 | $258.8M | DFUS, SPDW, SPSB, IGIB, SPTI |