Kapstone Financial Advisors LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Kapstone Financial Advisors LLC reported 102 stock positions worth $146.9 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 13.7% of the portfolio, followed by Apple (AAPL, 10.7%) and Strategy (MSTR, 8.1%). Compared with Q4 2023, it opened 5 new positions, added to 27 and reduced 27. The biggest buy was Strategy (MSTR, shares +16%) and the biggest sale Apple (AAPL, shares −1%).

Most Recent 13F
Q2 2026
Location
LEBANON, OH
CIK
0001966087
Portfolio Value
$146.9M (Q1 2024)
SEC Filing
0001951757-24-000472 ↗ filed May 13, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $146.9M $146.9M Q1 2024 Q2 2024: $152.5M Q2 2024 Q3 2024: $165.0M Q3 2024 Q4 2024: $187.4M Q4 2024 Q1 2025: $176.8M Q1 2025 Q2 2025: $200.5M Q2 2025 Q3 2025: $212.3M Q3 2025 Q4 2025: $201.2M Q4 2025 Q1 2026: $204.1M Q1 2026 Q2 2026: $238.8M Q2 2026

Holdings 102 stocks · $146.9M
IVV iShares Core S&P 500 ETF 13.74% 38,403 $20.2M Add +4.8%
AAPL Apple Inc. 10.67% 91,422 $15.7M Reduce -1.1%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 8.09% 6,974 $11.9M Add +15.6%
HDV iShares Core High Dividend E 7.74% 103,189 $11.4M Reduce -0.7%
PG The Procter & Gamble Co. 3.86% 34,973 $5.7M Add +0.1%
META Meta Platforms Inc. Class A 3.08% 9,330 $4.5M No change
VYM Vanguard High DVD Yield ETF 2.70% 32,820 $4.0M Add +2.3%
MSFT Microsoft Corp. 2.69% 9,390 $4.0M Add +1.0%
DVY iShares Select Dividend ETF 1.95% 23,278 $2.9M Reduce -1.3%
GOOGL Alphabet Inc. Class A 1.87% 18,172 $2.7M Reduce -4.1%
ABBV Abbvie Inc. 1.72% 13,837 $2.5M Reduce -0.8%
IWF iShares Russell 1000 Growth 1.71% 7,434 $2.5M Reduce -0.2%
IVW iShares S&P 500 Growth ETF 1.70% 29,586 $2.5M Add +9.1%
FTCS First Trust Capital Strength 1.27% 21,761 $1.9M Add +2.9%
BRK.B Berkshire Hathaway Inc. Class B 1.26% 4,414 $1.9M Add +2.3%
JPM JPMorgan Chase & Co. 1.24% 9,119 $1.8M Add +3.5%
NVDA Nvidia Corp. 1.17% 1,907 $1.7M Add +11.7%
QQQ Invesco QQQ Trust Series 1 1.04% 3,444 $1.5M Add +21.1%
DGRO iShares Core Dividend Growth 1.01% 25,492 $1.5M No change
GOOG Alphabet Inc. Class C 1.00% 9,672 $1.5M Add +1.9%
MPC Marathon Petroleum Corp. 1.00% 7,266 $1.5M No change
AMZN Amazon.com Inc. 0.98% 7,985 $1.4M Add +4.3%
LCNB LCNB Corporation 0.97% 89,757 $1.4M Add +0.0%
XLE SS Energy Select Sector 0.90% 13,967 $1.3M Reduce -6.3%
MRK Merck & Co. Inc. 0.87% 9,639 $1.3M Reduce -0.3%
XOM Exxon Mobil Corp. 0.86% 10,890 $1.3M Add +1.9%
JNJ Johnson & Johnson 0.85% 7,911 $1.3M Reduce -0.5%
FTGS First Trust Grwth Strgth ETF 0.70% 33,561 $1.0M Add +55.8%
CMG Chipotle Mexican Grill Inc. 0.69% 350 $1.0M New
CSCO Cisco Systems Inc. 0.67% 19,615 $979K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.65% 1,827 $956K Add +1.1%
PAYX Paychex Inc. 0.62% 7,416 $911K No change
MLM Martin Marietta Materials 0.60% 1,437 $882K No change
V Visa Inc. Class A 0.59% 3,105 $867K Reduce -2.7%
ELV Elevance Health Inc. 0.59% 1,657 $859K Add +8.4%
CRM Salesforce Inc. 0.55% 2,671 $804K No change
VMC Vulcan Materials Co. 0.53% 2,838 $775K No change
RDVY First Trust Rising Dividend 0.50% 13,014 $731K Add +17.2%
CSX CSX Corp. 0.48% 18,978 $704K Reduce -0.7%
CVX Chevron Corp. 0.46% 4,297 $678K Add +1.9%
HD Home Depot Inc. 0.45% 1,741 $668K Reduce -1.4%
PLTR Palantir Technologies Inc. Class A 0.44% 27,930 $643K Add +20.2%
BRK.A Berkshire Hathaway Inc. Class A 0.43% 1 $634K No change
BMY Bristol-Myers Squibb Co. 0.43% 11,553 $627K Reduce -9.2%
DUK Duke Energy Corp. 0.42% 6,437 $623K Reduce -0.3%
MO Altria Group Inc. 0.42% 14,259 $622K Add +5.8%
LMT Lockheed Martin Corp. 0.42% 1,354 $616K Reduce -1.8%
RSPT Invesco S&P 500 Equal Weight 0.41% 17,280 $608K No change
NOBL Proshares S&P 500 Dividend A 0.41% 5,935 $602K Reduce -0.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.38% 4,618 $565K Reduce -4.4%
HBAN Huntington Bancshares Inc. 0.38% 40,122 $560K Reduce -0.3%
DHI D.R. Horton Inc. 0.38% 3,365 $554K Add +2.1%
RSPH Invesco S&P 500 Equal Weight 0.37% 17,030 $541K No change
ADI Analog Devices Inc. 0.37% 2,734 $541K No change
SDY SS SPDR S&P Dividend ETF 0.36% 4,063 $533K No change
CAH Cardinal Health Inc. 0.34% 4,416 $494K Add +1.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.33% 12,622 $479K No change
LW Lamb Weston Holdings Inc. 0.32% 4,388 $467K No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.32% 5,788 $464K No change
ISRG Intuitive Surgical Inc. 0.30% 1,122 $448K No change
KO The Coca-Cola Co. 0.30% 7,236 $443K Add +0.8%
BA The Boeing Co. 0.29% 2,226 $430K Reduce -1.5%
SO The Southern Co. 0.29% 5,952 $427K No change
CVS CVS Health Corp. 0.29% 5,322 $424K No change
MINT PIMCO Enhanced Short Maturit 0.28% 4,040 $406K Reduce -16.9%
PM Philip Morris International 0.27% 4,272 $391K Add +0.1%
TSLA Tesla Inc. 0.26% 2,176 $383K No change
DAL Delta Air Lines Inc. 0.25% 7,821 $374K No change
LLY Eli Lilly & Co. 0.25% 465 $362K No change
CMI Cummins Inc. 0.24% 1,222 $360K No change
F Ford Motor Co. filed as FORD MTR CO DEL 0.24% 26,995 $358K Reduce -16.4%
CAG Conagra Brands Inc. 0.24% 12,040 $357K No change
MU Micron Technology Inc. 0.24% 3,025 $357K No change
VZ Verizon Communications Inc. 0.24% 8,417 $353K Reduce -6.6%
LOW Lowe's Cos Inc. 0.24% 1,361 $347K No change
FDX FedEx Corp. 0.23% 1,188 $344K Reduce -3.1%
KR Kroger Co. 0.23% 5,997 $343K Add +1.7%
MA Mastercard Inc. Class A 0.23% 692 $333K No change
CINF Cincinnati Financial Corp. 0.23% 2,668 $331K No change
PEP Pepsico Inc. 0.22% 1,816 $318K Reduce -2.3%
KMB Kimberly-Clark Corp. 0.21% 2,435 $315K No change
NKE Nike Inc. Class B 0.21% 3,280 $308K No change
PGR Progressive Corp. 0.21% 1,470 $304K No change
FITB Fifth Third Bancorp 0.21% 8,118 $302K Reduce -1.3%
AXP American Express Co. 0.20% 1,305 $297K No change
MCD McDonald's Corp. 0.20% 1,035 $292K No change
QTEC First Trust Nasdq 100 Tech I 0.19% 1,492 $284K No change
NVS Novartis AG-Sponsored ADR 0.18% 2,695 $261K No change
NUE Nucor Corp. 0.17% 1,290 $255K No change
DTD Wisdomtree US Total Dividend 0.17% 3,500 $248K No change
XLF SS Financial Select Sector 0.16% 5,704 $240K No change
IJR iShares Core S&P Small-Cap E 0.16% 2,093 $231K No change
PFE Pfizer Inc. 0.16% 8,266 $229K Reduce -16.1%
UNP Union Pacific Corp. 0.16% 930 $229K No change
NSC Norfolk Southern Corp. 0.15% 890 $227K No change
BX Blackstone Inc. 0.15% 1,716 $225K No change
VLO Valero Energy Corp. 0.15% 1,294 $221K New
VTI VG Morningstar TS MKT ETF-US 0.15% 845 $220K Reduce -8.7%
COP Conocophillips 0.14% 1,652 $210K New
MCK McKesson Corp. 0.14% 380 $204K New
IWB iShares Russell 1000 ETF 0.14% 700 $202K New
ETW Eaton Vance T/M GLBL Buy-WR 0.06% 10,035 $82K No change

Portfolio Sells Q4 2023 → Q1 2024
AAPL Apple Inc. Reduce -1.1% 10.67% −3.40
HDV iShares Core High Dividend E Reduce -0.7% 7.74% −0.73
GOOGL Alphabet Inc. Class A Reduce -4.1% 1.87% −0.39
DVY iShares Select Dividend ETF Reduce -1.3% 1.95% −0.20
JNJ Johnson & Johnson Reduce -0.5% 0.85% −0.14
IWF iShares Russell 1000 Growth Reduce -0.2% 1.71% −0.14
MINT PIMCO Enhanced Short Maturit Reduce -16.9% 0.28% −0.11
V Visa Inc. Class A Reduce -2.7% 0.59% −0.09
ABBV Abbvie Inc. Reduce -0.8% 1.72% −0.09
XLE SS Energy Select Sector Reduce -6.3% 0.90% −0.08
BMY Bristol-Myers Squibb Co. Reduce -9.2% 0.43% −0.07
BA The Boeing Co. Reduce -1.5% 0.29% −0.07
DUK Duke Energy Corp. Reduce -0.3% 0.42% −0.06
VZ Verizon Communications Inc. Reduce -6.6% 0.24% −0.06
PFE Pfizer Inc. Reduce -16.1% 0.16% −0.06
LMT Lockheed Martin Corp. Reduce -1.8% 0.42% −0.05
CSX CSX Corp. Reduce -0.7% 0.48% −0.05
MRK Merck & Co. Inc. Reduce -0.3% 0.87% −0.04
F Ford Motor Co. Reduce -16.4% 0.24% −0.04
NOBL Proshares S&P 500 Dividend A Reduce -0.1% 0.41% −0.03
HD Home Depot Inc. Reduce -1.4% 0.45% −0.03
HBAN Huntington Bancshares Inc. Reduce -0.3% 0.38% −0.03
PEP Pepsico Inc. Reduce -2.3% 0.22% −0.03
VTI VG Morningstar TS MKT ETF-US Reduce -8.7% 0.15% −0.03
FITB Fifth Third Bancorp Reduce -1.3% 0.21% −0.02
FDX FedEx Corp. Reduce -3.1% 0.23% −0.01
DIS The Walt Disney Co. Reduce -4.4% 0.38% +0.03

Portfolio Buys Q4 2023 → Q1 2024
MSTR Strategy Inc. Add +15.6% 8.09% +5.93
CMG Chipotle Mexican Grill Inc. New 0.69% +0.69
NVDA Nvidia Corp. Add +11.7% 1.17% +0.35
FTGS First Trust Grwth Strgth ETF Add +55.8% 0.70% +0.23
VLO Valero Energy Corp. New 0.15% +0.15
COP Conocophillips New 0.14% +0.14
MCK McKesson Corp. New 0.14% +0.14
PLTR Palantir Technologies Inc. Class A Add +20.2% 0.44% +0.14
IWB iShares Russell 1000 ETF New 0.14% +0.14
QQQ Invesco QQQ Trust Series 1 Add +21.1% 1.04% +0.09
RDVY First Trust Rising Dividend Add +17.2% 0.50% +0.05
JPM JPMorgan Chase & Co. Add +3.5% 1.24% +0.05
AMZN Amazon.com Inc. Add +4.3% 0.98% +0.03
IVW iShares S&P 500 Growth ETF Add +9.1% 1.70% +0.03
KR Kroger Co. Add +1.7% 0.23% +0.02
DHI D.R. Horton Inc. Add +2.1% 0.38% +0.01
ELV Elevance Health Inc. Add +8.4% 0.59% +0.01
XOM Exxon Mobil Corp. Add +1.9% 0.86% +0.01
MO Altria Group Inc. Add +5.8% 0.42% −0.00
BRK.B Berkshire Hathaway Inc. Class B Add +2.3% 1.26% −0.03
CAH Cardinal Health Inc. Add +1.1% 0.34% −0.03
CVX Chevron Corp. Add +1.9% 0.46% −0.03
KO The Coca-Cola Co. Add +0.8% 0.30% −0.03
PM Philip Morris International Add +0.1% 0.27% −0.04
SPY SS SPDR S&P 500 ETF Trust-US Add +1.1% 0.65% −0.04
FTCS First Trust Capital Strength Add +2.9% 1.27% −0.07
LCNB LCNB Corporation Add +0.0% 0.97% −0.10
GOOG Alphabet Inc. Class C Add +1.9% 1.00% −0.14
VYM Vanguard High DVD Yield ETF Add +2.3% 2.70% −0.14
MSFT Microsoft Corp. Add +1.0% 2.69% −0.26
IVV iShares Core S&P 500 ETF Add +4.8% 13.74% −0.34
PG The Procter & Gamble Co. Add +0.1% 3.86% −0.40

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 175$238.8MIVV, AAPL, HDV, IVW, QQQ
Q1 2026 154$204.1MIVV, AAPL, HDV, PLTR, IVW
Q4 2025 133$201.2MIVV, AAPL, HDV, PLTR, META
Q3 2025 122$212.3MIVV, MSTR, AAPL, HDV, PLTR
Q2 2025 120$200.5MIVV, MSTR, AAPL, HDV, META
Q1 2025 112$176.8MIVV, MSTR, AAPL, HDV, PG
Q4 2024 114$187.4MIVV, MSTR, AAPL, HDV, META
Q3 2024 108$165.0MIVV, AAPL, MSTR, HDV, PG
Q2 2024 108$152.5MIVV, AAPL, HDV, MSTR, PG
Q1 2024 102$146.9MIVV, AAPL, MSTR, HDV, PG