CIK: 0001820680
Total reported value
$258.9M
Reporting period: 2026-03-31 · Number of holdings: 33
BLUESTEM FINANCIAL ADVISORS, LLC disclosed 33 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $258.9M and a quarterly turnover rate of 4.4%.
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Bluestem Financial Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.124 — mathematically equivalent to about 8 equally-sized positions, well below its 33 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.79), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.4 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 1% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim BND
-2.6% -$1.7M
Trim IVV
+2.6% -$1.2M
Add VEU
+1.5% $1.1M
Add VB
+2.0% $1.1M
Trim ISTB
-11.5% -$626.0K
Trim SPYM
-8.5% -$508.5K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 20.66% | -0.47% | +2.56% | |
| 2 | BND | Vanguard Total Bond Market | ETF-Other | 20.64% | -0.68% | -2.58% | |
| 3 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 12.65% | +0.44% | +1.50% | |
| 4 | VB | Vanguard Small-cap ETF | ETF-Other | 12.50% | +0.43% | +2.05% | |
| 5 | VNQ | Vanguard Real Estate ETF | ETF-Other | 5.37% | +0.05% | +0.69% | |
| 6 | EAGG | Ishares Esg Aware US Aggrega | ETF-Other | 2.55% | -0.02% | -0.20% | |
| 7 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 2.50% | +0.01% | +1.22% | |
| 8 | SUSL | Ishares Esg Msci USA Leaders | ETF-Other | 2.16% | -0.14% | +0.28% | |
| 9 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 2.15% | +0.01% | -2.19% | |
| 10 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 2.02% | -0.01% | +4.13% | |
| 11 | ESML | Ishares Esg Aware Msci USA S | ETF-Other | 1.81% | +0.06% | +0.85% | |
| 12 | ISTB | Ishares Core 1-5 Year Usd Bo | ETF-Other | 1.76% | -0.25% | -11.53% | |
| 13 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 1.67% | -0.02% | -0.43% | |
| 14 | VSGX | Vanguard Esg Intl Stock ETF | ETF-Other | 1.63% | +0.02% | +0.90% | |
| 15 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 1.35% | -0.19% | -8.53% | |
| 16 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.30% | +0.01% | +5.49% | |
| 17 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 1.13% | -0.02% | -4.38% | |
| 18 | VV | Vanguard Large-cap ETF | ETF-Other | 0.96% | -0.05% | +0.07% | |
| 19 | VXUS | Vanguard Total Intl Stock | ETF-Other | 0.94% | +0.01% | -1.27% | |
| 20 | SCHA | Schwab US Small-cap ETF | ETF-Other | 0.87% | +0.01% | +0.01% | |
| 21 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-Other | 0.58% | +0.58% | NEW | |
| 22 | SUSA | Ishares Esg Optimized Msci U | ETF-Other | 0.55% | -0.02% | +3.37% | |
| 23 | VO | Vanguard Mid-cap ETF | ETF-Other | 0.43% | — | +0.05% | |
| 24 | ITOT | Ishares Core S&p Total U.s. | ETF-Other | 0.32% | +0.32% | NEW | |
| 25 | AAPL | Apple INC | Stock-Tech | 0.27% | -0.04% | -6.28% | |
| 26 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.27% | +0.06% | +36.51% | |
| 27 | MSFT | Microsoft CORP | Stock-Tech | 0.23% | -0.07% | +0.55% | |
| 28 | SCHH | Schwab US Reit ETF | ETF-Other | 0.20% | — | +0.17% | |
| 29 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 0.13% | — | -0.93% | |
| 30 | ESGV | Vanguard Esg US Stock ETF | ETF-Other | 0.11% | — | +0.04% | |
| 31 | USSG | Xtrackers Msci USA Sele Eqty | ETF-Other | 0.10% | -0.01% | — | |
| 32 | APH | Amphenol Corp-cl A | Stock-Tech | 0.09% | +0.09% | NEW | |
| 33 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.09% | +0.09% | NEW |
Performance for Q3 2026
+2.2%
Performance Last 4 Quarters
+15.8%
Based on 70% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 33 | $258.9M | 4 | |
| 2025-12-31 | 30 | $258.9M | 2 | |
| 2025-09-30 | 29 | $255.5M | 18 | |
| 2025-06-30 | 29 | $233.3M | 0 | |
| 2025-03-31 | 28 | $213.8M | 100 | |
| 2024-12-31 | 27 | $212.5M | 0 | |
| 2024-09-30 | 27 | $214.3M | 0 | |
| 2024-06-30 | 27 | $197.9M | 0 | |
| 2024-03-31 | 28 | $193.5M | 0 | |
| 2023-12-31 | 26 | $172.0M | 0 | |
| 2023-09-30 | 25 | $163.9M | 0 | |
| 2023-06-30 | 25 | $165.4M | 0 | |
| 2023-03-31 | 26 | $162.4M | 0 | |
| 2022-12-31 | 26 | $152.1M | 0 | |
| 2022-09-30 | 27 | $141.3M | 0 | |
| 2022-06-30 | 27 | $143.8M | 0 | |
| 2022-03-31 | 28 | $159.4M | 0 | |
| 2021-12-31 | 24 | $160.9M | 0 | |
| 2021-09-30 | 27 | $153.1M | 0 | |
| 2021-06-30 | 27 | $148.4M | 97 | |
| 2021-03-31 | 27 | $140.5M | 4 | |
| 2020-12-31 | 27 | $136.5M | 14 | |
| 2020-09-30 | 26 | $118.8M | 9 | |
| 2020-06-30 | 24 | $109.3M | 17 | |
| 2020-03-31 | 19 | $92.9M | 20 | |
| 2019-12-31 | 19 | $110.1M | 0 |
Bluestem Financial Advisors, LLC's most significant position changes for 2026-03-31: New buy: Vanguard Tax-exempt Bond ETF (VTEB); New buy: Ishares Core S&p Total U.s. (ITOT); Sold out: Vanguard Growth ETF (VUG); New buy: Amphenol Corp-cl A (APH); New buy: Berkshire Hathaway Inc-cl B (BRK-B).
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-29 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-21 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-08 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-23 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-05 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-30 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-06 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-17 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-13 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-20 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-11 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-18 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-11-01 | Amendment | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-26 | Amendment | View on EDGAR |
| 2022-03-31 | 2022-04-08 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-13 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-19 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-11 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-28 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-11 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-08-11 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-08-11 | 13F-HR | View on EDGAR |
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