Flagstone Financial Management
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 21, 2025), Flagstone Financial Management reported 53 stock positions worth $310.5 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 27.0% of the portfolio, followed by iShares 5-10Y Inv Grade (IGIB, 11.2%) and Ste STR SPDR PT DW Eu ETF (SPDW, 7.9%). Compared with Q4 2024, it opened 2 new positions, sold out of 3, added to 29 and reduced 6. The biggest buy was iShares 5-10Y Inv Grade (IGIB, shares +5%) and the biggest sale Apple (AAPL, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- LINCOLN, NE
- CIK
- 0001968890
- Portfolio Value
- $310.5M (Q1 2025)
- SEC Filing
- 0001754960-25-000222 ↗ filed Apr 21, 2025
Holdings Value
Holdings 53 stocks · $310.5M
| DFUS Dimensional US Eq MKT ETF | 27.02% | 1,386,852 | $83.9M | Add +4.7% |
| IGIB iShares 5-10Y Inv Grade Corp. | 11.18% | 660,650 | $34.7M | Add +5.3% |
| SPDW Ste STR SPDR PT DW Eu ETF | 7.94% | 677,252 | $24.7M | Add +2.2% |
| SPSB SS SPDR P St C Corp. ETF | 7.04% | 725,797 | $21.8M | Add +2.7% |
| SPTI SS SPDR P Int Term TSY ETF | 6.54% | 710,537 | $20.3M | Add +5.0% |
| BNDX Vanguard Total Intl Bond ETF | 5.75% | 365,619 | $17.8M | Add +5.6% |
| AVUV Avantis US Small Cap Value | 4.85% | 172,777 | $15.1M | Add +4.9% |
| DFEM Dimensional Emrg MRKT Core | 4.45% | 521,562 | $13.8M | Add +3.5% |
| AVDV Avantis Intl S/C Value ETF | 3.75% | 166,774 | $11.6M | Add +2.0% |
| AVUS Avantis U.S. Equity ETF | 3.69% | 123,924 | $11.4M | Add +2.6% |
| VNQ Vanguard Real Estate ETF | 2.76% | 94,508 | $8.6M | Add +5.0% |
| AVEM Avantis Emerging Markets Eq | 2.11% | 108,805 | $6.5M | Reduce -3.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.93% | 11,233 | $6.0M | Add +1.2% |
| MUNI PIMCO Intermediate Municipal | 1.53% | 92,201 | $4.8M | Add +7.5% |
| AVDE Avantis International Equity | 1.19% | 55,778 | $3.7M | Add +1.3% |
| AAPL Apple Inc. | 0.88% | 12,327 | $2.7M | Reduce -0.4% |
| MSFT Microsoft Corp. | 0.66% | 5,456 | $2.0M | Add +0.0% |
| SUSB iShares ESG Aware 1-5 Year U | 0.64% | 79,530 | $2.0M | Reduce -7.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.51% | 2 | $1.6M | No change |
| MUB iShares National Muni Bond E | 0.34% | 10,093 | $1.1M | Add +145.0% |
| USB US Bancorp | 0.33% | 24,629 | $1.0M | Add +0.0% |
| AVRE Avantis Real Estate ETF | 0.32% | 22,761 | $979K | Add +11.3% |
| JPM JPMorgan Chase & Co. | 0.30% | 3,781 | $928K | No change |
| XOM Exxon Mobil Corp. | 0.27% | 7,056 | $839K | Reduce -1.5% |
| DFAE Dimensional Emerging Core Eq | 0.26% | 31,663 | $820K | No change |
| WFC Wells Fargo & Co. | 0.26% | 11,413 | $819K | Add +1.5% |
| VIG Vanguard Dividend Apprec ETF | 0.26% | 4,108 | $797K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.25% | 2,774 | $762K | Add +2.7% |
| IWR iShares Russell Mid-Cap ETF | 0.22% | 7,870 | $670K | No change |
| MA Mastercard Inc. Class A | 0.19% | 1,085 | $595K | No change |
| VGIT Vanguard Intermediate-Term T | 0.18% | 9,579 | $569K | No change |
| DFSU Dimensional US Sus CORE1 ETF | 0.18% | 15,358 | $550K | Add +2.3% |
| DE Deere & Co. | 0.17% | 1,097 | $515K | No change |
| DFAR Dimensional US Real Est ETF | 0.16% | 21,166 | $503K | Add +0.2% |
| NVDA Nvidia Corp. | 0.16% | 4,552 | $493K | Add +31.9% |
| MKL Markel Group Inc. | 0.15% | 254 | $475K | No change |
| DFSB Dim GLB Sustain Fix Inc. ETF | 0.15% | 8,909 | $459K | Add +79.7% |
| GOOG Alphabet Inc. Class C | 0.14% | 2,876 | $449K | Add +3.6% |
| SPIB SS SPDR P Int C Corp. ETF | 0.12% | 11,531 | $383K | Reduce -29.9% |
| IWM iShares Russell 2000 ETF | 0.11% | 1,765 | $352K | No change |
| DFSI Dimensional Int Sus COR1 ETF | 0.11% | 10,054 | $351K | Add +1.1% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.10% | 4,545 | $309K | No change |
| DFIV Dimensional International Va | 0.10% | 7,785 | $306K | Reduce -4.5% |
| XLF SS Financial Select Sector | 0.08% | 5,227 | $260K | No change |
| UNP Union Pacific Corp. | 0.08% | 1,093 | $258K | No change |
| DFSE Dimensional Em Sus CORE1 ETF | 0.08% | 7,533 | $254K | New |
| IEI iShares 3-7 Year Treasury Bo | 0.08% | 2,085 | $246K | No change |
| WMT Walmart Inc. | 0.08% | 2,745 | $241K | Add +0.4% |
| BOC Boston Omaha Corp. Class A | 0.08% | 16,115 | $235K | Add +11.9% |
| AMZN Amazon.com Inc. | 0.07% | 1,195 | $227K | Add +8.1% |
| DFAT Dimensional US Target Value | 0.07% | 4,113 | $212K | No change |
| LLY Eli Lilly & Co. | 0.07% | 248 | $205K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.07% | 4,836 | $202K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -0.4% | 0.88% | −0.15 |
| AVEM Avantis Emerging Markets Eq | Reduce -3.9% | 2.11% | −0.10 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −0.08 |
| CPBI Central Plains Bancshares Inc. | Sold out | 0.00% | −0.07 |
| DFSV Dimensional US Small Cap Val | Sold out | 0.00% | −0.07 |
| SUSB iShares ESG Aware 1-5 Year U | Reduce -7.4% | 0.64% | −0.06 |
| SPIB SS SPDR P Int C Corp. ETF | Reduce -29.9% | 0.12% | −0.06 |
| DFIV Dimensional International Va | Reduce -4.5% | 0.10% | +0.00 |
| XOM Exxon Mobil Corp. | Reduce -1.5% | 0.27% | +0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| IGIB iShares 5-10Y Inv Grade Corp. | Add +5.3% | 11.18% | +0.43 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +2.2% | 7.94% | +0.43 |
| SPTI SS SPDR P Int Term TSY ETF | Add +5.0% | 6.54% | +0.27 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +1.2% | 1.93% | +0.26 |
| AVDV Avantis Intl S/C Value ETF | Add +2.0% | 3.75% | +0.21 |
| MUB iShares National Muni Bond E | Add +145.0% | 0.34% | +0.20 |
| BNDX Vanguard Total Intl Bond ETF | Add +5.6% | 5.75% | +0.11 |
| VNQ Vanguard Real Estate ETF | Add +5.0% | 2.76% | +0.09 |
| DFSE Dimensional Em Sus CORE1 ETF | New | 0.08% | +0.08 |
| AVDE Avantis International Equity | Add +1.3% | 1.19% | +0.07 |
| LLY Eli Lilly & Co. | New | 0.07% | +0.07 |
| DFSB Dim GLB Sustain Fix Inc. ETF | Add +79.7% | 0.15% | +0.06 |
| DFEM Dimensional Emrg MRKT Core | Add +3.5% | 4.45% | +0.06 |
| MUNI PIMCO Intermediate Municipal | Add +7.5% | 1.53% | +0.06 |
| AVRE Avantis Real Estate ETF | Add +11.3% | 0.32% | +0.03 |
| SPSB SS SPDR P St C Corp. ETF | Add +2.7% | 7.04% | +0.03 |
| BOC Boston Omaha Corp. Class A | Add +11.9% | 0.08% | +0.01 |
| NVDA Nvidia Corp. | Add +31.9% | 0.16% | +0.00 |
| DFSI Dimensional Int Sus COR1 ETF | Add +1.1% | 0.11% | +0.00 |
| WFC Wells Fargo & Co. | Add +1.5% | 0.26% | +0.00 |
| DFAR Dimensional US Real Est ETF | Add +0.2% | 0.16% | −0.00 |
| WMT Walmart Inc. | Add +0.4% | 0.08% | −0.00 |
| AMZN Amazon.com Inc. | Add +8.1% | 0.07% | −0.01 |
| DFSU Dimensional US Sus CORE1 ETF | Add +2.3% | 0.18% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +2.7% | 0.25% | −0.01 |
| GOOG Alphabet Inc. Class C | Add +3.6% | 0.14% | −0.03 |
| USB US Bancorp | Add +0.0% | 0.33% | −0.06 |
| MSFT Microsoft Corp. | Add +0.0% | 0.66% | −0.10 |
| AVUS Avantis U.S. Equity ETF | Add +2.6% | 3.69% | −0.20 |
| AVUV Avantis US Small Cap Value | Add +4.9% | 4.85% | −0.43 |
| DFUS Dimensional US Eq MKT ETF | Add +4.7% | 27.02% | −1.05 |
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 |