Kapstone Financial Advisors LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 6, 2024), Kapstone Financial Advisors LLC reported 108 stock positions worth $165.0 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 14.9% of the portfolio, followed by Apple (AAPL, 12.6%) and Strategy (MSTR, 7.5%). Compared with Q2 2024, it opened 7 new positions, sold out of 7, added to 22 and reduced 36. The biggest buy was McDonald's (MCD, shares +481%) and the biggest sale an exit from Goldman Sachs (GS).

Most Recent 13F
Q2 2026
Location
LEBANON, OH
CIK
0001966087
Portfolio Value
$165.0M (Q3 2024)
SEC Filing
0001951757-24-001175 ↗ filed Nov 6, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $146.9M Q1 2024 Q2 2024: $152.5M Q2 2024 Q3 2024: $165.0M $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 108 stocks · $165.0M
IVV iShares Core S&P 500 ETF 14.95% 42,951 $24.7M Add +4.5%
AAPL Apple Inc. 12.62% 91,355 $20.8M Add +0.0%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 7.51% 70,291 $12.4M Reduce -1.4%
HDV iShares Core High Dividend E 7.45% 104,883 $12.3M Reduce -0.2%
PG The Procter & Gamble Co. 3.50% 33,314 $5.8M Reduce -0.1%
META Meta Platforms Inc. Class A 3.18% 9,255 $5.3M No change
MSFT Microsoft Corp. 2.62% 10,089 $4.3M Add +2.6%
VYM Vanguard High DVD Yield ETF 2.46% 31,812 $4.1M Reduce -1.4%
DVY iShares Select Dividend ETF 1.88% 23,015 $3.1M Add +1.3%
IVW iShares S&P 500 Growth ETF 1.76% 30,559 $2.9M Add +3.3%
IWF iShares Russell 1000 Growth 1.68% 7,418 $2.8M Reduce -0.1%
GOOGL Alphabet Inc. Class A 1.67% 16,847 $2.8M Reduce -5.7%
ABBV Abbvie Inc. 1.66% 14,046 $2.7M Add +0.0%
NVDA Nvidia Corp. 1.45% 19,668 $2.4M Reduce -0.7%
BRK.B Berkshire Hathaway Inc. Class B 1.30% 4,695 $2.1M Add +3.7%
JPM JPMorgan Chase & Co. 1.25% 9,768 $2.1M Add +4.5%
QQQ Invesco QQQ Trust Series 1 1.19% 4,042 $2.0M Add +13.6%
FTCS First Trust Capital Strength 1.18% 21,539 $2.0M Reduce -0.2%
MCD McDonald's Corp. 1.09% 5,918 $1.8M Add +481.3%
GOOG Alphabet Inc. Class C 0.99% 9,868 $1.6M Reduce -0.1%
DGRO iShares Core Dividend Growth 0.96% 25,254 $1.6M Reduce -0.4%
AMZN Amazon.com Inc. 0.92% 8,060 $1.5M Add +0.9%
FTGS First Trust Grwth Strgth ETF 0.89% 47,128 $1.5M Add +11.3%
XOM Exxon Mobil Corp. 0.83% 11,785 $1.4M Add +0.0%
LCNB LCNB Corporation 0.79% 86,907 $1.3M Reduce -1.7%
JNJ Johnson & Johnson 0.77% 7,829 $1.3M Reduce -0.2%
PLTR Palantir Technologies Inc. Class A 0.76% 33,988 $1.3M Add +14.1%
MPC Marathon Petroleum Corp. 0.72% 7,266 $1.2M No change
MRK Merck & Co. Inc. 0.68% 9,896 $1.1M No change
XLE SS Energy Select Sector 0.66% 12,448 $1.1M Reduce -9.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.62% 1,803 $1.0M Add +0.7%
PAYX Paychex Inc. 0.61% 7,505 $998K Reduce -0.3%
PM Philip Morris International 0.56% 7,636 $921K Add +6.1%
CSCO Cisco Systems Inc. 0.54% 16,681 $884K Reduce -4.3%
ELV Elevance Health Inc. 0.52% 1,626 $852K Reduce -4.1%
V Visa Inc. Class A 0.50% 3,000 $826K Reduce -2.4%
LMT Lockheed Martin Corp. 0.50% 1,413 $823K No change
RDVY First Trust Rising Dividend 0.47% 13,014 $767K No change
DUK Duke Energy Corp. 0.45% 6,358 $737K Reduce -0.6%
VMC Vulcan Materials Co. 0.43% 2,838 $710K No change
MLM Martin Marietta Materials 0.43% 1,317 $710K Reduce -8.3%
CRM Salesforce Inc. 0.42% 2,532 $700K No change
HD Home Depot Inc. 0.42% 1,741 $696K No change
MO Altria Group Inc. 0.42% 13,559 $692K Reduce -1.4%
BRK.A Berkshire Hathaway Inc. Class A 0.42% 1 $686K No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.41% 5,788 $676K No change
LLY Eli Lilly & Co. 0.41% 766 $672K Add +50.2%
RSPT Invesco S&P 500 Equal Weight 0.40% 17,280 $653K No change
CSX CSX Corp. 0.39% 18,778 $648K No change
DHI D.R. Horton Inc. 0.39% 3,365 $641K No change
ADI Analog Devices Inc. 0.38% 2,734 $634K No change
HBAN Huntington Bancshares Inc. 0.36% 40,122 $587K No change
CVX Chevron Corp. 0.36% 4,036 $587K Reduce -5.2%
KO The Coca-Cola Co. 0.33% 7,684 $552K No change
RSPH Invesco S&P 500 Equal Weight 0.33% 16,830 $541K No change
TSLA Tesla Inc. 0.33% 2,073 $540K No change
ISRG Intuitive Surgical Inc. 0.33% 1,122 $538K No change
SO The Southern Co. 0.32% 5,886 $530K No change
BMY Bristol-Myers Squibb Co. 0.32% 10,246 $522K No change
SDY SS SPDR S&P Dividend ETF 0.31% 3,663 $519K Reduce -9.8%
CAH Cardinal Health Inc. 0.31% 4,646 $510K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.30% 12,569 $495K Reduce -0.4%
NOBL Proshares S&P 500 Dividend A 0.25% 3,848 $410K No change
MINT PIMCO Enhanced Short Maturit 0.25% 4,040 $407K No change
CMI Cummins Inc. 0.24% 1,222 $399K No change
CAG Conagra Brands Inc. 0.23% 11,934 $387K No change
DAL Delta Air Lines Inc. 0.23% 7,409 $382K Reduce -5.3%
PGR Progressive Corp. 0.22% 1,470 $369K No change
LOW Lowe's Cos Inc. 0.22% 1,350 $361K Reduce -0.8%
KMB Kimberly-Clark Corp. 0.22% 2,517 $359K Reduce -5.1%
VZ Verizon Communications Inc. 0.21% 7,749 $348K No change
CINF Cincinnati Financial Corp. 0.21% 2,539 $344K Reduce -4.8%
KR Kroger Co. 0.20% 5,947 $336K Reduce -0.8%
AXP American Express Co. 0.20% 1,227 $333K No change
MU Micron Technology Inc. 0.20% 3,025 $325K No change
NVS Novartis AG-Sponsored ADR 0.19% 2,695 $312K No change
FDX FedEx Corp. 0.19% 1,161 $311K Reduce -2.3%
BA The Boeing Co. 0.18% 1,929 $302K Reduce -3.7%
MA Mastercard Inc. Class A 0.18% 604 $298K Reduce -12.7%
LW Lamb Weston Holdings Inc. 0.18% 4,388 $293K No change
F Ford Motor Co. filed as FORD MTR CO 0.17% 26,260 $283K Reduce -2.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.17% 2,933 $282K Reduce -23.1%
QYLD Global X Nasd 100 Cov Call 0.17% 15,192 $274K Add +22.6%
DTD Wisdomtree US Total Dividend 0.16% 3,500 $267K No change
WMT Walmart Inc. 0.16% 3,297 $263K No change
FITB Fifth Third Bancorp 0.16% 6,118 $263K No change
QTEC First Trust Nasdq 100 Tech I 0.16% 1,358 $261K Reduce -2.2%
BX Blackstone Inc. 0.15% 1,615 $250K New
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.15% 4,525 $248K Add +20.8%
IJR iShares Core S&P Small-Cap E 0.15% 2,085 $243K Reduce -0.4%
VTI VG Morningstar TS MKT ETF-US 0.14% 845 $238K No change
PEP Pepsico Inc. 0.14% 1,373 $233K Reduce -23.3%
UNP Union Pacific Corp. 0.14% 930 $227K No change
AXON Axon Enterprise Inc. 0.14% 574 $227K New
XLF SS Financial Select Sector 0.13% 4,924 $222K No change
UNH Unitedhealth Group Inc. 0.13% 378 $220K New
ED Consolidated Edison Inc. 0.13% 2,111 $220K New
IWB iShares Russell 1000 ETF 0.13% 700 $219K No change
TMUS T-Mobile US Inc. 0.12% 1,000 $205K New
AZN Astrazeneca PLC-Spons ADR 0.12% 2,618 $203K No change

Show all 108 holdings

Portfolio Sells Q2 2024 → Q3 2024
GS Goldman Sachs Group Inc. Sold out 0.00% −0.90
GOOGL Alphabet Inc. Class A Reduce -5.7% 1.67% −0.46
GOOG Alphabet Inc. Class C Reduce -0.1% 0.99% −0.20
XLE SS Energy Select Sector Reduce -9.9% 0.66% −0.17
NKE Nike Inc. Class B Sold out 0.00% −0.16
NVDA Nvidia Corp. Reduce -0.7% 1.45% −0.16
CVS CVS Health Corp. Sold out 0.00% −0.15
QCOM Qualcomm Inc. Sold out 0.00% −0.15
MCK McKesson Corp. Sold out 0.00% −0.14
NUE Nucor Corp. Sold out 0.00% −0.13
VLO Valero Energy Corp. Sold out 0.00% −0.13
PG The Procter & Gamble Co. Reduce -0.1% 3.50% −0.10
IWF iShares Russell 1000 Growth Reduce -0.1% 1.68% −0.09
ELV Elevance Health Inc. Reduce -4.1% 0.52% −0.09
CVX Chevron Corp. Reduce -5.2% 0.36% −0.08
MLM Martin Marietta Materials Reduce -8.3% 0.43% −0.08
DIS The Walt Disney Co. Reduce -23.1% 0.17% −0.08
BA The Boeing Co. Reduce -3.7% 0.18% −0.06
PEP Pepsico Inc. Reduce -23.3% 0.14% −0.05
F Ford Motor Co. Reduce -2.7% 0.17% −0.05
HDV iShares Core High Dividend E Reduce -0.2% 7.45% −0.05
FDX FedEx Corp. Reduce -2.3% 0.19% −0.05
VYM Vanguard High DVD Yield ETF Reduce -1.4% 2.46% −0.05
BAC Bank of America Corp. Reduce -0.4% 0.30% −0.03
V Visa Inc. Class A Reduce -2.4% 0.50% −0.03
SDY SS SPDR S&P Dividend ETF Reduce -9.8% 0.31% −0.02
KMB Kimberly-Clark Corp. Reduce -5.1% 0.22% −0.02
QTEC First Trust Nasdq 100 Tech I Reduce -2.2% 0.16% −0.02
MA Mastercard Inc. Class A Reduce -12.7% 0.18% −0.02
LCNB LCNB Corporation Reduce -1.7% 0.79% −0.01
DAL Delta Air Lines Inc. Reduce -5.3% 0.23% −0.01
CSCO Cisco Systems Inc. Reduce -4.3% 0.54% −0.01
FTCS First Trust Capital Strength Reduce -0.2% 1.18% −0.01
DGRO iShares Core Dividend Growth Reduce -0.4% 0.96% −0.00
IJR iShares Core S&P Small-Cap E Reduce -0.4% 0.15% +0.00
CINF Cincinnati Financial Corp. Reduce -4.8% 0.21% +0.00
KR Kroger Co. Reduce -0.8% 0.20% +0.01
MO Altria Group Inc. Reduce -1.4% 0.42% +0.01
JNJ Johnson & Johnson Reduce -0.2% 0.77% +0.01
PAYX Paychex Inc. Reduce -0.3% 0.61% +0.02
LOW Lowe's Cos Inc. Reduce -0.8% 0.22% +0.02
DUK Duke Energy Corp. Reduce -0.6% 0.45% +0.03
MSTR Strategy Inc. Reduce -1.4% 7.51% +1.07

Portfolio Buys Q2 2024 → Q3 2024
MCD McDonald's Corp. Add +481.3% 1.09% +0.92
PLTR Palantir Technologies Inc. Class A Add +14.1% 0.76% +0.26
IVV iShares Core S&P 500 ETF Add +4.5% 14.95% +0.21
BX Blackstone Inc. New 0.15% +0.15
AXON Axon Enterprise Inc. New 0.14% +0.14
UNH Unitedhealth Group Inc. New 0.13% +0.13
ED Consolidated Edison Inc. New 0.13% +0.13
TMUS T-Mobile US Inc. New 0.12% +0.12
RYLD Global X Russell 2000 Cov Class New 0.12% +0.12
HQL Abrdn Life Sciences Investor New 0.11% +0.11
LLY Eli Lilly & Co. Add +50.2% 0.41% +0.10
BRK.B Berkshire Hathaway Inc. Class B Add +3.7% 1.30% +0.09
PM Philip Morris International Add +6.1% 0.56% +0.08
ABBV Abbvie Inc. Add +0.0% 1.66% +0.08
DVY iShares Select Dividend ETF Add +1.3% 1.88% +0.08
QQQ Invesco QQQ Trust Series 1 Add +13.6% 1.19% +0.08
FTGS First Trust Grwth Strgth ETF Add +11.3% 0.89% +0.04
QYLD Global X Nasd 100 Cov Call Add +22.6% 0.17% +0.02
XFOFX Cohen & Steers Closed-End Op Add +17.2% 0.11% +0.02
JEPQ JPM Nasdaq Equity Premium Add +20.8% 0.15% +0.01
JPM JPMorgan Chase & Co. Add +4.5% 1.25% +0.01
ASG Liberty All-Star Growth FD Add +10.8% 0.06% +0.00
AAPL Apple Inc. Add +0.0% 12.62% +0.00
BDJ BlackRock Enhanced Eqty DVD Add +7.8% 0.06% +0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +0.7% 0.62% −0.01
IVW iShares S&P 500 Growth ETF Add +3.3% 1.76% −0.03
XOM Exxon Mobil Corp. Add +0.0% 0.83% −0.06
AMZN Amazon.com Inc. Add +0.9% 0.92% −0.09
MSFT Microsoft Corp. Add +2.6% 2.62% −0.26

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