Arkolith/Funds/Flagstone Financial Management

Flagstone Financial Management

CIK 1968890
Holdings as of Jun 30, 2026·disclosed Jul 21, 2026·~21-day 13F lag·13F-HR
Active Filer

Flagstone Financial Management holds a focused book of 77 reported positions worth $447.2M as of Q2 2026 (disclosed Jul 21, 2026, a ~21-day 13F lag). This quarter they opened Applied Materials Inc and trimmed Dimensional Emrg MRKT Core. Their largest long position is Dimensional US Eq MKT ETF at 29% of the reported non-option book. Cloning the disclosed picks since 2024 would be +27% (+13.3%/yr). That is a simulation of the disclosed long book, not audited returns.

Growth of $10,000: cloning the disclosed book

If you'd copied them
+26.9%
+13.3%/yr · since Oct '24
Their reported book
+23.6%
held from quarter-end
S&P 500
+34.5%
same window
$9K$10K$11K$12K$14KOct '24Mar '25Jul '25Dec '25Apr '26Sep '26
Flagstone Financial Management (copied at disclosure) S&P 500

Following at the filing date actually beat the quarter-end book by 3.3 points over this window.

Growth of $10,000 cloning Flagstone Financial Management's disclosed long 13F book, rebalanced on each filing date (so it reflects each quarter's actual reporting lag, ~21 days for the latest filing, with no look-ahead), total-return basis (dividends reinvested), derived from end-of-day prices. “Their reported book” values the same picks from quarter-end, before they were public. S&P 500 is SPY total return over the same window. Excludes shorts, cash, options and non-13F holdings. Not investment advice.

How much sits in the biggest positions

Top-heavy: focused book

Top 5 holdings
58%
Top 10 holdings
80%
Top 20 holdings
93%

Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.

Where the money is, by sector

6% mapped to company sectors

ETFs / funds
93%
Financials
3%
Information Technology
2%

+9 sectors below the cut, 1% together

Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.

Biggest moves: latest quarter

Estimated $ traded · quarter-end prices (an exit at the prior quarter-end), no cost basis

Bought
Trimmed / exited

Funds with the most overlap

Other tracked managers holding the same core names as Flagstone Financial Management

Manager / fundShared namesTheir $ in those
Mirae Asset Global Investments Co., Ltd.50 / 77$276.8B
Hoffman, Alan N Investment Management8 / 77$154.1M
9823 Capital, L.P.7 / 77$125.9M
Luma Capital S.A. - SPF8 / 77$88.6M
Armstrong Henry H Associates Inc17 / 77$803.3M
Prospect Hill Management, LLC7 / 77$200.2M
Retirement Solution LLC24 / 77$387.0M
Marest Capital, LLC11 / 77$151.7M

Ranked by the share of each fund's own book sitting in the names it shares with Flagstone Financial Management: only funds sharing at least a tenth of the book qualify. Index giants, bank custody books and market makers are excluded. They hold everything, so their overlap says nothing.

Holdings: largest first

Bars show each position's share of the portfolio. Click a row for its position history.

77 positions
#SecurityValueShares% PortLast moveHistory
1Dimensional ETF Trust
US EQUI MARK ETF
$127.4M1.56M
28.5%
+1.6%
Added · +24K sh
2Ishares TR
ISHS 5-10YR INVT
$44.8M843.5K
10.0%
+4.2%
Added · +34K sh
3SPDR Index SHS FDS
ST STR PO EX ETF
$33.4M662.9K
7.5%
+1.8%
Added · +12K sh
4SPDR Series Trust
ST SHOR CORP ETF
$28.2M940.7K
6.3%
+3.1%
Added · +28K sh
5SPDR Series Trust
ST INTER ETF
$25.7M905.5K
5.7%
+4.5%
Added · +39K sh
6American Centy ETF TR
US SML CP VALU
$24.4M195.3K
5.4%
+0.9%
Added · +2K sh
7Vanguard Charlotte FDS
TOTAL INT BD ETF
$24.0M496.4K
5.4%
+4.3%
Added · +20K sh
8Dimensional ETF Trust
EMERGING MKTS CO
$19.4M477.4K
4.3%
−2.1%
Reduced · −10K sh
9American Centy ETF TR
US EQT ETF
$16.9M132.2K
3.8%
−1.9%
Reduced · −3K sh
10American Centy ETF TR
INTL SMCP VLU
$15.3M148.3K
3.4%
+1.2%
Added · +2K sh
11Vanguard Index FDS
REAL ESTATE ETF
$11.7M120.9K
2.6%
+3.0%
Added · +4K sh
12Pimco ETF TR
INTER MUN BD ACT
$9.9M187.8K
2.2%
+13%
Added · +22K sh
13American Centy ETF TR
AVANTIS EMGMKT
$8.5M88.0K
1.9%
−4.4%
Reduced · −4K sh
14Berkshire Hathaway Inc Del
CL B NEW
$6.1M12.1K
1.4%
−0.2%
Reduced · −22 sh
15American Centy ETF TR
INTL EQT ETF
$4.5M50.8K
1.0%
−1.3%
Reduced · −645 sh
16Ishares TR
NATIONAL MUN ETF
$3.4M31.2K
0.8%
+4.4%
Added · +1K sh
17Apple Inc
COM
$3.3M11.5K
0.7%
−1.5%
Reduced · −173 sh
18Dimensional ETF Trust
US SUSTAINABILTY
$2.6M55.7K
0.6%
+3.2%
Added · +2K sh
19SPDR Series Trust
ST STR PR SP1500
$2.3M25.0K
0.5%
Held
20Ishares TR
ESG AWRE 1 5 YR
$2.2M89.9K
0.5%
+4.3%
Added · +4K sh
21JPMorgan Chase & Co
COM
$2.2M6.7K
0.5%
Held
22Microsoft Corp
COM
$1.9M5.1K
0.4%
+0.5%
Added · +24 sh
23US Bancorp
COM NEW
$1.4M23.7K
0.3%
−3.4%
Reduced · −837 sh
24Dimensional ETF Trust
US SMALL CAP ETF
$1.4M35.4K
0.3%
−5.0%
Reduced · −2K sh
25American Centy ETF TR
REAL ESTATE ETF
$1.4M29.0K
0.3%
+0.7%
Added · +194 sh
26Dimensional ETF Trust
EMGR CRE EQT MNG
$1.3M31.4K
0.3%
Held
27Nvidia Corporation
COM
$1.0M5.0K
0.2%
+0.1%
Added · +6 sh
28Alphabet Inc
CAP STK CL C
$972K2.8K
0.2%
−6.8%
Reduced · −200 sh
29Dimensional ETF Trust
GLOBAL SUSTAINA
$901K17.3K
0.2%
+0.9%
Added · +162 sh
30Exxon Mobil Corp
COM
$893K6.5K
0.2%
−4.2%
Reduced · −289 sh
31Wells Fargo & Co
COM
$888K10.7K
0.2%
+0.1%
Added · +8 sh
32Dimensional ETF Trust
INTERNATIONAL
$886K19.7K
0.2%
+2.7%
Added · +525 sh
33Ishares TR
RUS MID CAP ETF
$863K7.8K
0.2%
Held
34Vanguard Index FDS
TOTAL STK MKT
$765K2.1K
0.2%
−0.9%
Reduced · −20 sh
35Vanguard Specialized Funds
DIV APP ETF
$755K3.2K
0.2%
Held
36Berkshire Hathaway Inc Del
CL A
$749K1
0.2%
Held
37Deere & Co
COM
$655K1.0K
0.1%
Held
38Vanguard Scottsdale FDS
INTER TERM TREAS
$626K10.6K
0.1%
Held
39Amazon Com Inc
COM
$610K2.6K
0.1%
+19%
Added · +408 sh
40Mastercard Incorporated
CL A
$586K1.1K
0.1%
Held
41Dimensional ETF Trust
EMER MARK SU ETF
$564K11.5K
0.1%
−1.4%
Reduced · −167 sh
42Markel Group Inc
COM
$551K282
0.1%
+11%
Added · +28 sh
43Ishares TR
RUSSELL 2000 ETF
$528K1.8K
0.1%
Held
44Johnson & Johnson
COM
$484K1.9K
0.1%
−1.5%
Reduced · −30 sh
45Oracle Corp
COM
$480K3.3K
0.1%
Held
46Dimensional ETF Trust
US REAL ESTA ETF
$471K18.0K
0.1%
−15%
Reduced · −3K sh
47Pepsico Inc
COM
$460K3.4K
0.1%
Held
48Cisco Sys Inc
COM
$417K3.6K
0.1%
Held
49Invesco QQQ TR
UNIT SER 1
$386K524
0.1%
−2.2%
Reduced · −12 sh
50SPDR Series Trust
ST INTER BD ETF
$386K11.5K
0.1%
Held
Showing 50 of 77 positions
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Filing history

As-of date vs the date the SEC received each filing

$447.2M · Q2 2026Q3 2024 · $298.2MQ2 2026 · $447.2M

Reported 13F total per quarter. Raw filing totals can include option notional.

QuarterAs ofFiledLagPositionsValueForm
Q2 2026Jun 30, 2026Jul 21, 202621d77$447.2M13F-HR
Q1 2026Mar 31, 2026Apr 27, 202627d71$402.9M13F-HR
Q4 2025Dec 31, 2025Feb 9, 202640d66$389.9M13F-HR
Q3 2025Sep 30, 2025Oct 31, 202531d62$379.0M13F-HR
Q2 2025Jun 30, 2025Jul 29, 202529d59$348.9M13F-HR
Q1 2025Mar 31, 2025Apr 21, 202521d53$310.5M13F-HR
Q4 2024Dec 31, 2024Jan 24, 202524d54$301.0M13F-HR
Q3 2024Sep 30, 2024Oct 15, 202415d53$298.2M13F-HR

Data source

Holdings from SEC EDGAR 13F-HR filings, updated quarterly, filed up to 45 days after quarter-end. Public domain. Book totals and portfolio weights cover reported non-option positions, which can include notes and warrants. Disclosed put/call options are listed separately and excluded from those totals. The performance line is a simulation of the disclosed long book, not an audited return.