Flagstone Financial Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), Flagstone Financial Management reported 59 stock positions worth $348.9 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 28.2% of the portfolio, followed by iShares 5-10Y Inv Grade (IGIB, 10.8%) and Ste STR SPDR PT DW Eu ETF (SPDW, 7.6%). Compared with Q1 2025, it opened 7 new positions, sold out of 1, added to 25 and reduced 12. The biggest buy was Dimensional US Eq MKT ETF (DFUS, shares +6%) and the biggest sale Ste STR SPDR PT DW Eu ETF (SPDW, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- LINCOLN, NE
- CIK
- 0001968890
- Portfolio Value
- $348.9M (Q2 2025)
- SEC Filing
- 0001754960-25-000487 ↗ filed Jul 29, 2025
Holdings Value
Holdings 59 stocks · $348.9M
| DFUS Dimensional US Eq MKT ETF | 28.18% | 1,466,921 | $98.3M | Add +5.8% |
| IGIB iShares 5-10Y Inv Grade Corp. | 10.80% | 706,836 | $37.7M | Add +7.0% |
| SPDW Ste STR SPDR PT DW Eu ETF | 7.64% | 658,015 | $26.6M | Reduce -2.8% |
| SPSB SS SPDR P St C Corp. ETF | 6.68% | 772,023 | $23.3M | Add +6.4% |
| SPTI SS SPDR P Int Term TSY ETF | 6.27% | 760,390 | $21.9M | Add +7.0% |
| BNDX Vanguard Total Intl Bond ETF | 5.62% | 395,760 | $19.6M | Add +8.2% |
| AVUV Avantis US Small Cap Value | 4.81% | 184,186 | $16.8M | Add +6.6% |
| DFEM Dimensional Emrg MRKT Core | 4.33% | 508,640 | $15.1M | Reduce -2.5% |
| AVUS Avantis U.S. Equity ETF | 3.79% | 131,134 | $13.2M | Add +5.8% |
| AVDV Avantis Intl S/C Value ETF | 3.71% | 163,195 | $12.9M | Reduce -2.1% |
| VNQ Vanguard Real Estate ETF | 2.60% | 101,899 | $9.1M | Add +7.8% |
| AVEM Avantis Emerging Markets Eq | 2.02% | 102,917 | $7.1M | Reduce -5.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.71% | 12,303 | $6.0M | Add +9.5% |
| MUNI PIMCO Intermediate Municipal | 1.59% | 108,159 | $5.6M | Add +17.3% |
| AVDE Avantis International Equity | 1.18% | 55,825 | $4.1M | Add +0.1% |
| MSFT Microsoft Corp. | 0.78% | 5,459 | $2.7M | Add +0.1% |
| AAPL Apple Inc. | 0.72% | 12,216 | $2.5M | Reduce -0.9% |
| SUSB iShares ESG Aware 1-5 Year U | 0.59% | 81,593 | $2.1M | Add +2.6% |
| MUB iShares National Muni Bond E | 0.56% | 18,608 | $1.9M | Add +84.4% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.54% | 25,076 | $1.9M | Add +451.7% |
| DFSU Dimensional US Sus CORE1 ETF | 0.32% | 28,675 | $1.1M | Add +86.7% |
| USB US Bancorp | 0.32% | 24,634 | $1.1M | Add +0.0% |
| JPM JPMorgan Chase & Co. | 0.31% | 3,781 | $1.1M | No change |
| AVRE Avantis Real Estate ETF | 0.31% | 24,437 | $1.1M | Add +7.4% |
| DFSV Dimensional US Small Cap Val | 0.27% | 32,265 | $950K | New |
| DFAE Dimensional Emerging Core Eq | 0.26% | 31,663 | $917K | No change |
| WFC Wells Fargo & Co. | 0.26% | 11,245 | $901K | Reduce -1.5% |
| VIG Vanguard Dividend Apprec ETF | 0.24% | 4,108 | $841K | No change |
| NVDA Nvidia Corp. | 0.22% | 4,933 | $779K | Add +8.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.21% | 1 | $729K | Reduce -50.0% |
| XOM Exxon Mobil Corp. | 0.21% | 6,680 | $720K | Reduce -5.3% |
| IWR iShares Russell Mid-Cap ETF | 0.21% | 7,823 | $719K | Reduce -0.6% |
| DFSB Dim GLB Sustain Fix Inc. ETF | 0.19% | 12,470 | $654K | Add +40.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.18% | 2,065 | $628K | Reduce -25.6% |
| MA Mastercard Inc. Class A | 0.17% | 1,085 | $610K | No change |
| VGIT Vanguard Intermediate-Term T | 0.16% | 9,579 | $573K | No change |
| DE Deere & Co. | 0.16% | 1,097 | $558K | No change |
| DFSI Dimensional Int Sus COR1 ETF | 0.15% | 13,073 | $515K | Add +30.0% |
| GOOG Alphabet Inc. Class C | 0.15% | 2,877 | $510K | Add +0.0% |
| MKL Markel Group Inc. | 0.15% | 254 | $507K | No change |
| DFAR Dimensional US Real Est ETF | 0.14% | 21,166 | $497K | No change |
| SPIB SS SPDR P Int C Corp. ETF | 0.11% | 11,531 | $387K | No change |
| IWM iShares Russell 2000 ETF | 0.11% | 1,758 | $379K | Reduce -0.4% |
| DFIV Dimensional International Va | 0.10% | 7,785 | $333K | No change |
| DFSE Dimensional Em Sus CORE1 ETF | 0.09% | 8,359 | $318K | Add +11.0% |
| AMZN Amazon.com Inc. | 0.08% | 1,269 | $278K | Add +6.2% |
| XLF SS Financial Select Sector | 0.08% | 5,227 | $274K | No change |
| WMT Walmart Inc. | 0.08% | 2,745 | $268K | No change |
| UNP Union Pacific Corp. | 0.07% | 1,093 | $252K | No change |
| BOC Boston Omaha Corp. Class A | 0.07% | 17,615 | $247K | Add +9.3% |
| IEI iShares 3-7 Year Treasury Bo | 0.07% | 2,042 | $243K | Reduce -2.1% |
| ETN Eaton Corp. PLC | 0.07% | 664 | $237K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.07% | 4,836 | $229K | No change |
| DFAT Dimensional US Target Value | 0.06% | 4,113 | $222K | No change |
| IEFA iShares Core MSCI Eafe ETF | 0.06% | 2,611 | $218K | New |
| ROK Rockwell Automation Inc. | 0.06% | 631 | $210K | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.06% | 337 | $208K | New |
| VEA Vanguard Ftse Developed ETF | 0.06% | 3,596 | $205K | New |
| NCNA Nucana PLC | 0.00% | 12,500 | $718 | New |
Portfolio Sells Q1 2025 → Q2 2025
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -2.8% | 7.64% | −0.31 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -50.0% | 0.21% | −0.31 |
| AAPL Apple Inc. | Reduce -0.9% | 0.72% | −0.16 |
| DFEM Dimensional Emrg MRKT Core | Reduce -2.5% | 4.33% | −0.12 |
| AVEM Avantis Emerging Markets Eq | Reduce -5.4% | 2.02% | −0.09 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.07 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -25.6% | 0.18% | −0.07 |
| XOM Exxon Mobil Corp. | Reduce -5.3% | 0.21% | −0.06 |
| AVDV Avantis Intl S/C Value ETF | Reduce -2.1% | 3.71% | −0.04 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -2.1% | 0.07% | −0.01 |
| IWR iShares Russell Mid-Cap ETF | Reduce -0.6% | 0.21% | −0.01 |
| WFC Wells Fargo & Co. | Reduce -1.5% | 0.26% | −0.01 |
| IWM iShares Russell 2000 ETF | Reduce -0.4% | 0.11% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| DFUS Dimensional US Eq MKT ETF | Add +5.8% | 28.18% | +1.16 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +451.7% | 0.54% | +0.44 |
| DFSV Dimensional US Small Cap Val | New | 0.27% | +0.27 |
| MUB iShares National Muni Bond E | Add +84.4% | 0.56% | +0.21 |
| DFSU Dimensional US Sus CORE1 ETF | Add +86.7% | 0.32% | +0.15 |
| MSFT Microsoft Corp. | Add +0.1% | 0.78% | +0.12 |
| AVUS Avantis U.S. Equity ETF | Add +5.8% | 3.79% | +0.10 |
| ETN Eaton Corp. PLC | New | 0.07% | +0.07 |
| NVDA Nvidia Corp. | Add +8.4% | 0.22% | +0.06 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.06% | +0.06 |
| MUNI PIMCO Intermediate Municipal | Add +17.3% | 1.59% | +0.06 |
| ROK Rockwell Automation Inc. | New | 0.06% | +0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.06% | +0.06 |
| VEA Vanguard Ftse Developed ETF | New | 0.06% | +0.06 |
| DFSB Dim GLB Sustain Fix Inc. ETF | Add +40.0% | 0.19% | +0.04 |
| DFSI Dimensional Int Sus COR1 ETF | Add +30.0% | 0.15% | +0.03 |
| DFSE Dimensional Em Sus CORE1 ETF | Add +11.0% | 0.09% | +0.01 |
| AMZN Amazon.com Inc. | Add +6.2% | 0.08% | +0.01 |
| GOOG Alphabet Inc. Class C | Add +0.0% | 0.15% | +0.00 |
| NCNA Nucana PLC | New | 0.00% | +0.00 |
| BOC Boston Omaha Corp. Class A | Add +9.3% | 0.07% | −0.00 |
| AVRE Avantis Real Estate ETF | Add +7.4% | 0.31% | −0.01 |
| AVDE Avantis International Equity | Add +0.1% | 1.18% | −0.01 |
| USB US Bancorp | Add +0.0% | 0.32% | −0.02 |
| AVUV Avantis US Small Cap Value | Add +6.6% | 4.81% | −0.04 |
| SUSB iShares ESG Aware 1-5 Year U | Add +2.6% | 0.59% | −0.05 |
| BNDX Vanguard Total Intl Bond ETF | Add +8.2% | 5.62% | −0.13 |
| VNQ Vanguard Real Estate ETF | Add +7.8% | 2.60% | −0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +9.5% | 1.71% | −0.21 |
| SPTI SS SPDR P Int Term TSY ETF | Add +7.0% | 6.27% | −0.27 |
| SPSB SS SPDR P St C Corp. ETF | Add +6.4% | 6.68% | −0.36 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +7.0% | 10.80% | −0.38 |
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 |