ARKANSAS FINANCIAL GROUP, INC.

LITTLE ROCK, AR · CIK 764611 · 13F filing filed 2023-07-11

SEC-registered investment adviser since 1985 · corporation

Assets managed$971.1m
Staff11 · 5 in investment roles
Main clients (by assets)High net worth individuals 92%, Individuals 7%
Form ADV · 2026-09-04SEC adviser record

$499.7m reported value +3.8% vs Q1 2023

64positions

68.3%in top 10

1 new 36 added 20 reduced 1 sold out vs Q1 2023

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SPDR DOW JONES INDL AVERAGE UT SER 1 DIA	DIA	231,569	$79.6m15.93%	15.93%	Reduced -1.6k	-1,605 -0.7%
2	ISHARES TR CORE S&P MCP ETF IJH	IJH	243,944	$63.8m12.77%	12.77%	Reduced -348	-348 -0.1%
3	ISHARES TR ISHS 1-5YR INVS IGSB	IGSB	884,206	$44.4m8.88%	8.88%	Reduced -3.2k	-3,196 -0.4%
4	VANGUARD INDEX FDS MID CAP ETF VO	VO	167,131	$36.8m7.36%	7.36%	Added +1.6k	+1,554 0.9%
5	ISHARES TR TIPS BD ETF TIP	TIP	294,495	$31.7m6.34%	6.34%	Reduced -8.8k	-8,755 -2.9%
6	ISHARES TR ISHS 5-10YR INVT IGIB	IGIB	437,607	$22.1m4.43%	4.43%	Reduced -4.6k	-4,615 -1.0%
7	ISHARES TR CORE S&P500 ETF IVV	IVV	47,498	$21.2m4.24%	4.24%	Added +544	+544 1.2%
8	SPDR SER TR PORTFOLIO SHORT SPSB	SPSB	517,845	$15.2m3.05%	3.05%	Added +40.8k	+40,821 8.6%
9	ISHARES TR SHRT NAT MUN ETF SUB	SUB	135,183	$14.1m2.81%	2.81%	Added +12.9k	+12,949 10.6%
10	ISHARES TR MICRO-CAP ETF IWC	IWC	112,194	$12.3m2.45%	2.45%	Added +1.2k	+1,229 1.1%
11	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	27,482	$10.2m2.03%	2.03%	Added +2.0k	+1,969 7.7%
12	ISHARES TR CORE INTL AGGR IAGG	IAGG	180,355	$8.9m1.78%	1.78%	Added +3.6k	+3,610 2.0%
13	ISHARES TR 0-5 YR TIPS ETF STIP	STIP	90,553	$8.8m1.77%	1.77%	Added +14.2k	+14,245 18.7%
14	ISHARES TR U.S. MED DVC ETF IHI	IHI	151,497	$8.6m1.71%	1.71%	Added +1.7k	+1,703 1.1%
15	ISHARES TR CORE 1 5 YR USD ISTB	ISTB	181,570	$8.5m1.69%	1.69%	Reduced -5.1k	-5,140 -2.8%
16	VANECK ETF TRUST AGRIBUSINESS ETF MOO	MOO	101,789	$8.3m1.66%	1.66%	Added +2.1k	+2,086 2.1%
17	SCHWAB STRATEGIC TR EMRG MKTEQ ETF SCHE	SCHE	327,028	$8.1m1.61%	1.61%	Reduced -2.5k	-2,526 -0.8%
18	ISHARES TR U.S. FIN SVC ETF IYG	IYG	48,139	$7.6m1.52%	1.52%	Added +2.3k	+2,348 5.1%
19	VANGUARD WORLD FD INF TECH ETF VGT	VGT	14,811	$6.5m1.31%	1.31%	Reduced -390	-390 -2.6%
20	ISHARES TR MSCI USA MIN VOL USMV	USMV	84,131	$6.3m1.25%	1.25%	Reduced -1.1k	-1,138 -1.3%
21	FIRST TR EXCH TRADED FD III MANAGD MUN ETF FMB	FMB	122,799	$6.2m1.25%	1.25%	Added +811	+811 0.7%
22	ISHARES TR CORE S&P SCP ETF IJR	IJR	58,178	$5.8m1.16%	1.16%	Added +1.3k	+1,336 2.4%
23	ISHARES TR NATIONAL MUN ETF MUB	MUB	51,590	$5.5m1.10%	1.10%	Reduced -143	-143 -0.3%
24	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	11,388	$5.0m1.01%	1.01%	Reduced -1.2k	-1,205 -9.6%
25	ISHARES INC MSCI EMRG CHN EMXC	EMXC	96,131	$5.0m1.00%	1.00%	Added +9.7k	+9,719 11.2%
26	ISHARES TR U.S. REAL ES ETF IYR	IYR	56,242	$4.9m0.97%	0.97%	Added +1.1k	+1,050 1.9%
27	FLEXSHARES TR MORNSTAR UPSTR GUNR	GUNR	115,765	$4.6m0.93%	0.93%	Added +16.7k	+16,689 16.8%
28	SPDR SER TR PORTFOLIO CRPORT SPBO	SPBO	152,816	$4.4m0.88%	0.88%	Added +11.6k	+11,584 8.2%
29	ISHARES TR US HLTHCARE ETF IYH	IYH	12,544	$3.5m0.70%	0.70%	Added +1.2k	+1,211 10.7%
30	VANGUARD CHARLOTTE FDS TOTAL INT BD ETF BNDX	BNDX	67,152	$3.3m0.66%	0.66%	Reduced -14	-14 -0.0%
31	SCHWAB STRATEGIC TR US TIPS ETF SCHP	SCHP	45,671	$2.4m0.48%	0.48%	Unchanged
32	FIRST TR DOW JONES SELECT MI COM SHS ANNUAL FDM	FDM	35,035	$2.0m0.39%	0.39%	Added +7.8k	+7,773 28.5%
33	ISHARES TR RESIDENTIAL MULT REZ	REZ	20,830	$1.5m0.31%	0.31%	Added +41	+41 0.2%
34	INVESCO EXCHANGE TRADED FD T S&P500 EQL FIN RSPF	RSPF	28,436	$1.5m0.29%	0.29%	Added +7.2k	+7,244 34.2%
35	ISHARES TR CORE MSCI EAFE IEFA	IEFA	20,684	$1.4m0.28%	0.28%	Added +1.1k	+1,075 5.5%
36	FIDELITY COMWLTH TR NASDAQ COMPSIT ONEQ	ONEQ	24,870	$1.3m0.27%	0.27%	Added +561	+561 2.3%
37	ISHARES INC MSCI GBL MIN VOL ACWV	ACWV	13,426	$1.3m0.26%	0.26%	Unchanged
38	SCHWAB STRATEGIC TR US MID-CAP ETF SCHM	SCHM	18,480	$1.3m0.26%	0.26%	Unchanged
39	SPDR SER TR S&P SEMICNDCTR XSD	XSD	5,451	$1.2m0.24%	0.24%	Reduced -83	-83 -1.5%
40	ISHARES TR EXPANDED TECH IGV	IGV	3,475	$1.2m0.24%	0.24%	Reduced -24	-24 -0.7%
41	SELECT SECTOR SPDR TR RL EST SEL SEC XLRE	XLRE	30,378	$1.1m0.23%	0.23%	Added +6.2k	+6,235 25.8%
42	SCHWAB STRATEGIC TR US DIVIDEND EQ SCHD	SCHD	14,558	$1.1m0.21%	0.21%	Reduced -653	-653 -4.3%
43	SPDR SER TR PORTFOLIO S&P600 SPSM	SPSM	27,053	$1.1m0.21%	0.21%	Added +10.2k	+10,227 60.8%
44	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	12,237	$1.0m0.20%	0.20%	Added +104	+104 0.9%
45	SPDR SERIES TRUST PORTFOLIO S&P400 SPMD	SPMD	21,725	$997.0k0.20%	0.20%	Reduced -531	-531 -2.4%
46	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	2,641	$900.6k0.18%	0.18%	Reduced -1.7k	-1,671 -38.8%
47	APPLE INC COM AAPL	AAPL	3,891	$754.7k0.15%	0.15%	Added +1.3k	+1,291 49.6%
48	ALPS ETF TR RIVRFRNT STR INC RIGS	RIGS	30,888	$701.5k0.14%	0.14%	Added +10.2k	+10,231 49.5%
49	JPMORGAN CHASE & CO COM JPM	JPM	4,203	$611.3k0.12%	0.12%	Reduced -241	-241 -5.4%
50	MICROSOFT CORP COM MSFT	MSFT	1,694	$576.9k0.12%	0.12%	Added +471	+471 38.5%
51	NORFOLK SOUTHN CORP COM NSC	NSC	2,323	$526.8k0.11%	0.11%	Added +36	+36 1.6%
52	WALMART INC COM WMT	WMT	3,096	$486.6k0.10%	0.10%	Reduced -1.6k	-1,617 -34.3%
53	ISHARES INC CORE MSCI EMKT IEMG	IEMG	9,636	$475.0k0.10%	0.10%	Added +1.2k	+1,192 14.1%
54	JOHNSON & JOHNSON COM JNJ	JNJ	2,682	$443.9k0.09%	0.09%	Added +424	+424 18.8%
55	DAVIS FUNDAMENTAL ETF TR SELECT FINL DFNL	DFNL	14,602	$395.9k0.08%	0.08%	Unchanged
56	MCDONALDS CORP COM MCD	MCD	1,022	$305.0k0.06%	0.06%	Added +171	+171 20.1%
57	INVESCO EXCH TRADED FD TR II S&P500 LOW VOL SPLV	SPLV	4,661	$292.8k0.06%	0.06%	New
58	EXXON MOBIL CORP COM XOM	XOM	2,683	$287.8k0.06%	0.06%	Reduced -309	-309 -10.3%
59	BECTON DICKINSON & CO COM BDX	BDX	1,022	$269.8k0.05%	0.05%	Unchanged
60	HOME BANCSHARES INC COM HOMB	HOMB	10,971	$250.1k0.05%	0.05%	Unchanged
61	ISHARES INC JP MRG EM CRP BD CEMB	CEMB	5,652	$245.1k0.05%	0.05%	Added +416	+416 7.9%
62	ABBVIE INC COM ABBV	ABBV	1,755	$236.4k0.05%	0.05%	Added +211	+211 13.7%
63	PUBLIC STORAGE COM PSA	PSA	766	$223.6k0.04%	0.04%	Unchanged
64	SPDR SER TR FTSE INT GVT ETF WIP	WIP	4,932	$206.0k0.04%	0.04%	Added +2	+2 0.0%

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
ISHARES GOLD TRUST IAU	IAU	5,665	$211.7k5.7k shares