Flagstone Financial Management
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 24, 2025), Flagstone Financial Management reported 54 stock positions worth $301.0 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 28.1% of the portfolio, followed by iShares 5-10Y Inv Grade (IGIB, 10.7%) and Ste STR SPDR PT DW Eu ETF (SPDW, 7.5%). Compared with Q3 2024, it opened 3 new positions, sold out of 2, added to 27 and reduced 9. The biggest buy was Dimensional US Eq MKT ETF (DFUS, shares +1%) and the biggest sale Central Plains Bancshares (CPBI, shares −67%).
- Most Recent 13F
- Q2 2026
- Location
- LINCOLN, NE
- CIK
- 0001968890
- Portfolio Value
- $301.0M (Q4 2024)
- SEC Filing
- 0001754960-25-000063 ↗ filed Jan 24, 2025
Holdings Value
Holdings 54 stocks · $301.0M
| DFUS Dimensional US Eq MKT ETF | 28.07% | 1,325,005 | $84.5M | Add +0.8% |
| IGIB iShares 5-10Y Inv Grade Corp. | 10.74% | 627,640 | $32.3M | Add +7.7% |
| SPDW Ste STR SPDR PT DW Eu ETF | 7.52% | 662,803 | $22.6M | Add +4.2% |
| SPSB SS SPDR P St C Corp. ETF | 7.01% | 706,572 | $21.1M | Add +3.4% |
| SPTI SS SPDR P Int Term TSY ETF | 6.27% | 676,558 | $18.9M | Add +6.8% |
| BNDX Vanguard Total Intl Bond ETF | 5.64% | 346,115 | $17.0M | Add +4.9% |
| AVUV Avantis US Small Cap Value | 5.28% | 164,742 | $15.9M | Add +1.8% |
| DFEM Dimensional Emrg MRKT Core | 4.38% | 503,771 | $13.2M | Add +4.5% |
| AVUS Avantis U.S. Equity ETF | 3.89% | 120,759 | $11.7M | Add +0.3% |
| AVDV Avantis Intl S/C Value ETF | 3.54% | 163,562 | $10.6M | Add +3.2% |
| VNQ Vanguard Real Estate ETF | 2.66% | 90,030 | $8.0M | Add +3.2% |
| AVEM Avantis Emerging Markets Eq | 2.21% | 113,164 | $6.7M | Add +1.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.67% | 11,100 | $5.0M | Reduce -2.3% |
| MUNI PIMCO Intermediate Municipal | 1.47% | 85,755 | $4.4M | Add +3.0% |
| AVDE Avantis International Equity | 1.12% | 55,076 | $3.4M | Add +3.4% |
| AAPL Apple Inc. | 1.03% | 12,377 | $3.1M | Reduce -1.9% |
| MSFT Microsoft Corp. | 0.76% | 5,455 | $2.3M | Reduce -0.5% |
| SUSB iShares ESG Aware 1-5 Year U | 0.70% | 85,880 | $2.1M | Add +10.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.45% | 2 | $1.4M | No change |
| USB US Bancorp | 0.39% | 24,626 | $1.2M | Add +0.0% |
| JPM JPMorgan Chase & Co. | 0.30% | 3,781 | $906K | Reduce -6.8% |
| AVRE Avantis Real Estate ETF | 0.28% | 20,452 | $857K | Add +3.5% |
| VIG Vanguard Dividend Apprec ETF | 0.27% | 4,108 | $804K | Reduce -18.4% |
| DFAE Dimensional Emerging Core Eq | 0.27% | 31,663 | $803K | No change |
| WFC Wells Fargo & Co. | 0.26% | 11,243 | $790K | Reduce -0.8% |
| VTI VG Morningstar TS MKT ETF-US | 0.26% | 2,702 | $783K | Add +69.9% |
| XOM Exxon Mobil Corp. | 0.26% | 7,166 | $771K | Add +18.0% |
| IWR iShares Russell Mid-Cap ETF | 0.23% | 7,870 | $696K | Add +0.6% |
| MA Mastercard Inc. Class A | 0.19% | 1,085 | $571K | No change |
| DFSU Dimensional US Sus CORE1 ETF | 0.19% | 15,018 | $569K | Add +1.2% |
| VGIT Vanguard Intermediate-Term T | 0.18% | 9,579 | $556K | Add +6.1% |
| SPIB SS SPDR P Int C Corp. ETF | 0.18% | 16,444 | $539K | Reduce -18.5% |
| GOOG Alphabet Inc. Class C | 0.18% | 2,776 | $529K | No change |
| DFAR Dimensional US Real Est ETF | 0.16% | 21,124 | $492K | Add +9.6% |
| DE Deere & Co. | 0.15% | 1,097 | $465K | No change |
| NVDA Nvidia Corp. | 0.15% | 3,451 | $463K | No change |
| MUB iShares National Muni Bond E | 0.15% | 4,120 | $439K | No change |
| MKL Markel Group Inc. | 0.15% | 254 | $438K | No change |
| IWM iShares Russell 2000 ETF | 0.13% | 1,765 | $390K | Add +0.4% |
| DFSI Dimensional Int Sus COR1 ETF | 0.11% | 9,949 | $327K | New |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.11% | 4,545 | $325K | No change |
| DFIV Dimensional International Va | 0.10% | 8,152 | $289K | No change |
| XLF SS Financial Select Sector | 0.08% | 5,227 | $253K | No change |
| DFSB Dim GLB Sustain Fix Inc. ETF | 0.08% | 4,959 | $253K | New |
| UNP Union Pacific Corp. | 0.08% | 1,093 | $249K | No change |
| WMT Walmart Inc. | 0.08% | 2,735 | $247K | Reduce -2.8% |
| AMZN Amazon.com Inc. | 0.08% | 1,106 | $243K | No change |
| IEI iShares 3-7 Year Treasury Bo | 0.08% | 2,085 | $241K | Add +2.5% |
| ETN Eaton Corp. PLC | 0.08% | 704 | $234K | No change |
| DFAT Dimensional US Target Value | 0.08% | 4,113 | $229K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.07% | 4,836 | $213K | New |
| CPBI Central Plains Bancshares Inc. | 0.07% | 13,872 | $208K | Reduce -66.5% |
| DFSV Dimensional US Small Cap Val | 0.07% | 6,720 | $207K | Add +2.0% |
| BOC Boston Omaha Corp. Class A | 0.07% | 14,396 | $204K | Add +35.4% |
Portfolio Sells Q3 2024 → Q4 2024
| CPBI Central Plains Bancshares Inc. | Reduce -66.5% | 0.07% | −0.11 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.3% | 1.67% | −0.08 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.07 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.07 |
| VIG Vanguard Dividend Apprec ETF | Reduce -18.4% | 0.27% | −0.07 |
| SPIB SS SPDR P Int C Corp. ETF | Reduce -18.5% | 0.18% | −0.05 |
| MSFT Microsoft Corp. | Reduce -0.5% | 0.76% | −0.03 |
| WMT Walmart Inc. | Reduce -2.8% | 0.08% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -6.8% | 0.30% | +0.01 |
| AAPL Apple Inc. | Reduce -1.9% | 1.03% | +0.04 |
| WFC Wells Fargo & Co. | Reduce -0.8% | 0.26% | +0.05 |
Portfolio Buys Q3 2024 → Q4 2024
| DFUS Dimensional US Eq MKT ETF | Add +0.8% | 28.07% | +0.64 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +7.7% | 10.74% | +0.25 |
| VTI VG Morningstar TS MKT ETF-US | Add +69.9% | 0.26% | +0.11 |
| DFSI Dimensional Int Sus COR1 ETF | New | 0.11% | +0.11 |
| SPTI SS SPDR P Int Term TSY ETF | Add +6.8% | 6.27% | +0.09 |
| DFSB Dim GLB Sustain Fix Inc. ETF | New | 0.08% | +0.08 |
| BNDX Vanguard Total Intl Bond ETF | Add +4.9% | 5.64% | +0.08 |
| AVUV Avantis US Small Cap Value | Add +1.8% | 5.28% | +0.08 |
| SPSB SS SPDR P St C Corp. ETF | Add +3.4% | 7.01% | +0.07 |
| BAC Bank of America Corp. | New | 0.07% | +0.07 |
| SUSB iShares ESG Aware 1-5 Year U | Add +10.7% | 0.70% | +0.05 |
| AVUS Avantis U.S. Equity ETF | Add +0.3% | 3.89% | +0.05 |
| XOM Exxon Mobil Corp. | Add +18.0% | 0.26% | +0.02 |
| BOC Boston Omaha Corp. Class A | Add +35.4% | 0.07% | +0.01 |
| USB US Bancorp | Add +0.0% | 0.39% | +0.01 |
| DFSU Dimensional US Sus CORE1 ETF | Add +1.2% | 0.19% | +0.00 |
| VGIT Vanguard Intermediate-Term T | Add +6.1% | 0.18% | +0.00 |
| DFSV Dimensional US Small Cap Val | Add +2.0% | 0.07% | +0.00 |
| IWR iShares Russell Mid-Cap ETF | Add +0.6% | 0.23% | 0.00 |
| IWM iShares Russell 2000 ETF | Add +0.4% | 0.13% | −0.00 |
| IEI iShares 3-7 Year Treasury Bo | Add +2.5% | 0.08% | −0.00 |
| DFAR Dimensional US Real Est ETF | Add +9.6% | 0.16% | −0.00 |
| MUNI PIMCO Intermediate Municipal | Add +3.0% | 1.47% | −0.01 |
| AVRE Avantis Real Estate ETF | Add +3.5% | 0.28% | −0.03 |
| AVDE Avantis International Equity | Add +3.4% | 1.12% | −0.07 |
| DFEM Dimensional Emrg MRKT Core | Add +4.5% | 4.38% | −0.17 |
| VNQ Vanguard Real Estate ETF | Add +3.2% | 2.66% | −0.18 |
| AVEM Avantis Emerging Markets Eq | Add +1.0% | 2.21% | −0.22 |
| AVDV Avantis Intl S/C Value ETF | Add +3.2% | 3.54% | −0.22 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +4.2% | 7.52% | −0.49 |
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 |