Cobblestone Asset Management LLC

RIA/Wealth

Cobblestone Asset Management LLC is a RIA/Wealth based in Richmond, VA led by Richard Robert Krafcik, managing $213.5M across 72 long positions as of Q3 2025 with 85% ETF concentration and 58% concentrated in top 10 holdings.

Managing PartnerRichard Robert Krafcik

Portfolio Value: $213.5M
Positions: 72
Top Holding: JPST at 14.37%
Last Reported: Q3 2025

Address9011 Arboretum Parkway, Suite 180, Richmond, VA, 23236, United States

Top Holdings

Largest long holdings in Cobblestone Asset Management LLC's portfolio (57.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 JPMorgan Ultra-Short Income JPST	ETF ETF	$30.7M	14.37%	+$3.0M Bought	— 604.9K shares	Q3 2023 Held for 2y 2m
2 iShares Core S&P 500 ETF IVV	ETF ETF	$14.2M	6.65%	+$1.3M Bought	— 21.2K shares	Q3 2023 Held for 2y 2m
3 BlackRock U.S. Equity Factor Rotation DYNF	ETF ETF	$12.5M	5.87%	+$2.1M Bought	— 211.8K shares	Q1 2024 Held for 1y 8m
4 SPDR Portfolio S&P 500 Growth ETF SPYG	ETF ETF	$10.5M	4.91%	-$302.2K Sold	— 100.4K shares	Q3 2023 Held for 2y 2m
5 JPMorgan U.S. Quality Factor JQUA	ETF ETF	$9.6M	4.51%	-$2.3M Sold	— 153.0K shares	Q3 2023 Held for 2y 2m
6 SPYV SPDR Portfolio S&P 500 Value ETF SPYV	ETF ETF	$9.3M	4.37%	+$357.7K Bought	— 168.8K shares	Q1 2024 Held for 1y 8m
7 SPDR Portfolio S&P 500 ETF SPLG	ETF ETF	$9.3M	4.35%	+$7.6M Bought	— 118.6K shares	Q3 2023 Held for 2y 2m
8 iShares MSCI Intl Value Factor IVLU	ETF ETF	$9.2M	4.31%	+$9.2M New	— 259.2K shares	Q3 2025 Held for 2 months
9 JBND JPMorgan Active Bond JBND	ETF ETF	$9.2M	4.31%	-$1.4M Sold	— 169.8K shares	Q4 2024 Held for 11 months
10 iShares S&P 100 OEF	ETF ETF	$8.9M	4.19%	+$4.3M Bought	— 26.9K shares	Q1 2025 Held for 8 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Cobblestone Asset Management LLC's latest filing

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Market Value

$213.5M

Prior: $188.5M

Q/Q Change

+13.29%

+$25.1M

Net Flows % of MV

+6.75%

Turnover Ratio

13.6%

New Purchases

8 stocks

$13.6M

Added To

37 stocks

+$24.4M

Sold Out Of

4 stocks

$14.3M

Reduced Holdings

18 stocks

-$9.2M

Increased Positions

Position	Shares Δ	Change
1 iShares MSCI Intl Value Factor IVLU	New	0 → 259.2K +$9.2M
2 iShares U.S. Aerospace & Defense ITA	New	0 → 9.8K +$2.0M
3 VTIP Vanguard Short-Term Inflation-Protected Securities Index Fund VTIP	New	0 → 15.5K +$786.8K
4 iShares MSCI South Korea EWY	New	0 → 8.0K +$644.4K
5 MP Materials MP	New	0 → 4.2K +$281.7K

Decreased Positions

Position	Shares Δ	Change
1 EFV iShares MSCI EAFE Value EFV	Sold	162.2K → 0 −$10.3M
2 iShares U.S. Technology IYW	Sold	18.9K → 0 −$3.3M
3 iShares 0-5 Year TIPS Bond STIP	Sold	7.2K → 0 −$745.0K
4 ChargePoint CHPT	Sold	1.5K → 0 −$20.5K
5 iShares MSCI EAFE Growth EFG	-92.63%	38.1K → 2.8K −$4.0M