Kapstone Financial Advisors LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), Kapstone Financial Advisors LLC reported 133 stock positions worth $201.2 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 19.8% of the portfolio, followed by Apple (AAPL, 11.3%) and iShares Core High Dividend E (HDV, 6.0%). Compared with Q3 2025, it opened 17 new positions, sold out of 6, added to 35 and reduced 39. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +2%) and the biggest sale Strategy (MSTR, shares −76%).
- Most Recent 13F
- Q2 2026
- Location
- LEBANON, OH
- CIK
- 0001966087
- Portfolio Value
- $201.2M (Q4 2025)
- SEC Filing
- 0001951757-26-000364 ↗ filed Feb 5, 2026
Holdings Value
Holdings 133 stocks · $201.2M
| IVV iShares Core S&P 500 ETF | 19.80% | 58,139 | $39.8M | Add +2.4% |
| AAPL Apple Inc. | 11.27% | 83,423 | $22.7M | Reduce -1.3% |
| HDV iShares Core High Dividend E | 6.00% | 99,257 | $12.1M | Reduce -1.5% |
| PLTR Palantir Technologies Inc. Class A | 3.47% | 39,300 | $7.0M | Reduce -2.5% |
| META Meta Platforms Inc. Class A | 2.78% | 8,478 | $5.6M | Add +0.7% |
| IVW iShares S&P 500 Growth ETF | 2.78% | 45,327 | $5.6M | Add +2.3% |
| MSFT Microsoft Corp. | 2.59% | 10,754 | $5.2M | Add +2.6% |
| GOOGL Alphabet Inc. Class A | 2.48% | 15,967 | $5.0M | Add +0.3% |
| PG The Procter & Gamble Co. | 2.18% | 30,583 | $4.4M | Reduce -1.9% |
| QQQ Invesco QQQ Trust Series 1 | 2.16% | 7,064 | $4.3M | Add +1.5% |
| VYM Vanguard High DVD Yield ETF | 2.10% | 29,395 | $4.2M | Reduce -3.4% |
| NVDA Nvidia Corp. | 1.82% | 19,664 | $3.7M | Reduce -2.3% |
| IWF iShares Russell 1000 Growth | 1.73% | 7,366 | $3.5M | Reduce -0.0% |
| ABBV Abbvie Inc. | 1.56% | 13,743 | $3.1M | Add +0.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.49% | 5,964 | $3.0M | Add +4.1% |
| GOOG Alphabet Inc. Class C | 1.48% | 9,517 | $3.0M | Reduce -0.2% |
| DVY iShares Select Dividend ETF | 1.46% | 20,794 | $2.9M | Reduce -5.5% |
| JPM JPMorgan Chase & Co. | 1.42% | 8,864 | $2.9M | Reduce -0.7% |
| MSTR Strategy Inc. | 1.28% | 16,934 | $2.6M | Reduce -76.5% |
| PM Philip Morris International | 1.11% | 13,861 | $2.2M | Reduce -1.0% |
| IBIT iShares Bitcoin Trust ETF | 1.01% | 40,965 | $2.0M | New |
| FTCS First Trust Capital Strength | 0.97% | 21,112 | $2.0M | Reduce -0.7% |
| AMZN Amazon.com Inc. | 0.93% | 8,132 | $1.9M | Reduce -5.2% |
| DGRO iShares Core Dividend Growth | 0.81% | 23,612 | $1.6M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.79% | 2,344 | $1.6M | Add +12.8% |
| JNJ Johnson & Johnson | 0.75% | 7,247 | $1.5M | No change |
| FTGS First Trust Grwth Strgth ETF | 0.72% | 41,227 | $1.5M | Reduce -1.1% |
| XOM Exxon Mobil Corp. | 0.71% | 11,916 | $1.4M | Add +11.3% |
| LCNB LCNB Corporation | 0.70% | 86,067 | $1.4M | Reduce -3.2% |
| CSCO Cisco Systems Inc. | 0.61% | 15,816 | $1.2M | Add +1.8% |
| UBER Uber Technologies Inc. | 0.59% | 14,482 | $1.2M | Add +77.8% |
| CAH Cardinal Health Inc. | 0.58% | 5,646 | $1.2M | Add +4.5% |
| V Visa Inc. Class A | 0.52% | 3,003 | $1.1M | Reduce -0.5% |
| RDVY First Trust Rising Dividend | 0.51% | 14,635 | $1.0M | Add +0.3% |
| COST Costco Wholesale Corp. | 0.45% | 1,047 | $903K | Reduce -3.6% |
| MRK Merck & Co. Inc. | 0.45% | 8,575 | $903K | Add +1.4% |
| MO Altria Group Inc. | 0.44% | 15,195 | $876K | Reduce -0.5% |
| FBTC Fidelity Wise Origin Bitcoin | 0.43% | 11,435 | $872K | New |
| DUK Duke Energy Corp. | 0.42% | 7,282 | $854K | Add +5.7% |
| MPC Marathon Petroleum Corp. | 0.42% | 5,240 | $852K | No change |
| ADI Analog Devices Inc. | 0.39% | 2,917 | $791K | Add +6.7% |
| PAYX Paychex Inc. | 0.39% | 7,045 | $790K | Reduce -6.1% |
| RSPT Invesco S&P 500 Equal Weight | 0.39% | 17,280 | $786K | No change |
| MLM Martin Marietta Materials | 0.39% | 1,258 | $783K | Reduce -2.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.38% | 1 | $755K | No change |
| MU Micron Technology Inc. | 0.37% | 2,628 | $750K | No change |
| VMC Vulcan Materials Co. | 0.36% | 2,505 | $714K | Reduce -0.8% |
| ISRG Intuitive Surgical Inc. | 0.35% | 1,248 | $707K | No change |
| HBAN Huntington Bancshares Inc. | 0.35% | 40,122 | $696K | No change |
| CSX CSX Corp. | 0.34% | 18,715 | $678K | Reduce -0.3% |
| F Ford Motor Co. filed as FORD MTR CO | 0.33% | 50,566 | $663K | No change |
| CMI Cummins Inc. | 0.31% | 1,222 | $624K | No change |
| HD Home Depot Inc. | 0.30% | 1,734 | $597K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.29% | 10,722 | $590K | Reduce -7.1% |
| KO The Coca-Cola Co. | 0.29% | 8,239 | $576K | Add +8.2% |
| AXON Axon Enterprise Inc. | 0.29% | 1,010 | $574K | Add +4.2% |
| CVX Chevron Corp. | 0.28% | 3,642 | $555K | Reduce -0.6% |
| LMT Lockheed Martin Corp. | 0.27% | 1,126 | $545K | No change |
| SDY SS SPDR S&P Dividend ETF | 0.26% | 3,806 | $530K | Add +3.9% |
| SO The Southern Co. | 0.25% | 5,663 | $494K | No change |
| AXP American Express Co. | 0.24% | 1,304 | $482K | No change |
| GLD SPDR Gold Shares | 0.23% | 1,143 | $453K | New |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.21% | 5,095 | $423K | Reduce -1.9% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.21% | 869 | $418K | No change |
| CINF Cincinnati Financial Corp. | 0.21% | 2,539 | $415K | No change |
| DHI D.R. Horton Inc. | 0.20% | 2,771 | $399K | No change |
| MA Mastercard Inc. Class A | 0.20% | 689 | $393K | Add +0.9% |
| IEFA iShares Core MSCI Eafe ETF | 0.18% | 4,158 | $372K | Add +52.8% |
| NVS Novartis AG-Sponsored ADR | 0.18% | 2,695 | $372K | No change |
| XLE SS Energy Select Sector | 0.18% | 8,176 | $366K | Reduce -8.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.18% | 1,074 | $360K | Add +27.1% |
| PGR Progressive Corp. | 0.17% | 1,515 | $345K | Reduce -7.2% |
| BMY Bristol-Myers Squibb Co. | 0.17% | 6,375 | $344K | No change |
| QTEC First Trust Nasdq 100 Tech I | 0.16% | 1,441 | $332K | Reduce -1.5% |
| NOBL Proshares S&P 500 Dividend A | 0.16% | 3,169 | $330K | No change |
| FDX FedEx Corp. | 0.16% | 1,099 | $317K | Reduce -4.3% |
| ELV Elevance Health Inc. | 0.16% | 894 | $313K | Reduce -21.1% |
| KR Kroger Co. | 0.15% | 4,983 | $311K | No change |
| DAL Delta Air Lines Inc. | 0.15% | 4,375 | $304K | No change |
| IWB iShares Russell 1000 ETF | 0.15% | 810 | $302K | No change |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.15% | 5,197 | $302K | Add +10.9% |
| DTD Wisdomtree US Total Dividend | 0.15% | 3,500 | $297K | No change |
| XAGDX Abrdn GLBL DYNM Divid | 0.15% | 25,325 | $295K | Add +28.2% |
| BX Blackstone Inc. | 0.15% | 1,911 | $295K | Add +18.3% |
| BDJ BlackRock Enhanced Eqty DVD | 0.15% | 30,936 | $293K | Add +13.9% |
| IVE iShares S&P 500 Value ETF | 0.15% | 1,379 | $292K | Add +0.1% |
| BA The Boeing Co. | 0.15% | 1,347 | $292K | Reduce -1.5% |
| C Citigroup Inc. | 0.15% | 2,505 | $292K | New |
| QYLD Global X Nasd 100 Cov Call | 0.14% | 16,397 | $290K | Add +4.3% |
| MCK McKesson Corp. | 0.14% | 350 | $287K | Reduce -0.8% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.14% | 904 | $285K | New |
| FITB Fifth Third Bancorp | 0.14% | 6,068 | $284K | No change |
| XFOFX Cohen & Steers Closed-End Op | 0.14% | 21,390 | $282K | Add +3.7% |
| LOW Lowe's Cos Inc. | 0.14% | 1,160 | $280K | No change |
| XLF SS Financial Select Sector | 0.14% | 5,055 | $277K | No change |
| LLY Eli Lilly & Co. | 0.13% | 252 | $271K | New |
| MCD McDonald's Corp. | 0.13% | 868 | $265K | Reduce -14.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.13% | 2,258 | $257K | No change |
| FTQI First Trust Nasdaq Buywrite | 0.12% | 12,050 | $251K | New |
| ORCL Oracle Corp. | 0.12% | 1,275 | $249K | Add +25.3% |
Portfolio Sells Q3 2025 → Q4 2025
| MSTR Strategy Inc. | Reduce -76.5% | 1.28% | −9.65 |
| TIDAL TRUST II | Sold out | 0.00% | −0.20 |
| NBIS Nebius Group NV | Sold out | 0.00% | −0.15 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.12 |
| ARM Arm Holdings PLC-ADR | Sold out | 0.00% | −0.12 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −0.10 |
| MTUM iShares MSCI USA Momentum Fa | Sold out | 0.00% | −0.09 |
| PG The Procter & Gamble Co. | Reduce -1.9% | 2.18% | −0.08 |
| PAYX Paychex Inc. | Reduce -6.1% | 0.39% | −0.06 |
| MO Altria Group Inc. | Reduce -0.5% | 0.44% | −0.04 |
| IRM Iron Mountain Inc. | Reduce -1.9% | 0.21% | −0.04 |
| COST Costco Wholesale Corp. | Reduce -3.6% | 0.45% | −0.02 |
| FPX First Trust US Equity Opport | Reduce -19.9% | 0.12% | −0.02 |
| VZ Verizon Communications Inc. | Reduce -11.6% | 0.12% | −0.02 |
| PGR Progressive Corp. | Reduce -7.2% | 0.17% | −0.02 |
| ELV Elevance Health Inc. | Reduce -21.1% | 0.16% | −0.02 |
| DVY iShares Select Dividend ETF | Reduce -5.5% | 1.46% | −0.01 |
| MCD McDonald's Corp. | Reduce -14.7% | 0.13% | −0.01 |
| GOF Guggenheim Strategic Opport | Reduce -9.0% | 0.06% | −0.01 |
| VMC Vulcan Materials Co. | Reduce -0.8% | 0.36% | −0.01 |
| XLE SS Energy Select Sector | Reduce -8.2% | 0.18% | −0.01 |
| DOCU Docusign Inc. | Reduce -5.1% | 0.11% | −0.01 |
| MLM Martin Marietta Materials | Reduce -2.6% | 0.39% | +0.01 |
| BA The Boeing Co. | Reduce -1.5% | 0.15% | +0.01 |
| QTEC First Trust Nasdq 100 Tech I | Reduce -1.5% | 0.16% | +0.01 |
| CVX Chevron Corp. | Reduce -0.6% | 0.28% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Reduce -2.5% | 3.47% | +0.01 |
| WMT Walmart Inc. | Reduce -2.4% | 0.12% | +0.01 |
| BAC Bank of America Corp. | Reduce -7.1% | 0.29% | +0.01 |
| MCK McKesson Corp. | Reduce -0.8% | 0.14% | +0.01 |
| FTGS First Trust Grwth Strgth ETF | Reduce -1.1% | 0.72% | +0.02 |
| CSX CSX Corp. | Reduce -0.3% | 0.34% | +0.02 |
| FDX FedEx Corp. | Reduce -4.3% | 0.16% | +0.03 |
| FTCS First Trust Capital Strength | Reduce -0.7% | 0.97% | +0.03 |
| PM Philip Morris International | Reduce -1.0% | 1.11% | +0.04 |
| V Visa Inc. Class A | Reduce -0.5% | 0.52% | +0.04 |
| AMZN Amazon.com Inc. | Reduce -5.2% | 0.93% | +0.05 |
| NVDA Nvidia Corp. | Reduce -2.3% | 1.82% | +0.05 |
| LCNB LCNB Corporation | Reduce -3.2% | 0.70% | +0.07 |
| VYM Vanguard High DVD Yield ETF | Reduce -3.4% | 2.10% | +0.08 |
| JPM JPMorgan Chase & Co. | Reduce -0.7% | 1.42% | +0.09 |
| IWF iShares Russell 1000 Growth | Reduce -0.0% | 1.73% | +0.11 |
| HDV iShares Core High Dividend E | Reduce -1.5% | 6.00% | +0.19 |
| GOOG Alphabet Inc. Class C | Reduce -0.2% | 1.48% | +0.39 |
| AAPL Apple Inc. | Reduce -1.3% | 11.27% | +1.14 |
Portfolio Buys Q3 2025 → Q4 2025
| IVV iShares Core S&P 500 ETF | Add +2.4% | 19.80% | +1.89 |
| IBIT iShares Bitcoin Trust ETF | New | 1.01% | +1.01 |
| GOOGL Alphabet Inc. Class A | Add +0.3% | 2.48% | +0.66 |
| FBTC Fidelity Wise Origin Bitcoin | New | 0.43% | +0.43 |
| IVW iShares S&P 500 Growth ETF | Add +2.3% | 2.78% | +0.26 |
| GLD SPDR Gold Shares | New | 0.23% | +0.23 |
| UBER Uber Technologies Inc. | Add +77.8% | 0.59% | +0.21 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.5% | 2.16% | +0.19 |
| CAH Cardinal Health Inc. | Add +4.5% | 0.58% | +0.18 |
| C Citigroup Inc. | New | 0.15% | +0.15 |
| XOM Exxon Mobil Corp. | Add +11.3% | 0.71% | +0.14 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +12.8% | 0.79% | +0.14 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | New | 0.14% | +0.14 |
| LLY Eli Lilly & Co. | New | 0.13% | +0.13 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +4.1% | 1.49% | +0.13 |
| FTQI First Trust Nasdaq Buywrite | New | 0.12% | +0.12 |
| MRK Merck & Co. Inc. | Add +1.4% | 0.45% | +0.11 |
| AVGO Broadcom Inc. | New | 0.11% | +0.11 |
| QQQI Neos Nasdaq-100 High Inc. ETF | New | 0.11% | +0.11 |
| AZN Astrazeneca PLC-Spons ADR | New | 0.11% | +0.11 |
| XYLD Global X S&P 500 Cove Call E | New | 0.11% | +0.11 |
| CSCO Cisco Systems Inc. | Add +1.8% | 0.61% | +0.10 |
| LRCX Lam Research Corp. | New | 0.10% | +0.10 |
| NUE Nucor Corp. | New | 0.10% | +0.10 |
| IYY iShares Dow Jones U.S. ETF | New | 0.10% | +0.10 |
| BUZZ Vaneck Social Sentiment ETF | New | 0.10% | +0.10 |
| GM General Motors Co. | New | 0.10% | +0.10 |
| ADI Analog Devices Inc. | Add +6.7% | 0.39% | +0.08 |
| IEFA iShares Core MSCI Eafe ETF | Add +52.8% | 0.18% | +0.07 |
| XAODX Abrdn Total Dynamic Dividend | New | 0.06% | +0.06 |
| ABBV Abbvie Inc. | Add +0.0% | 1.56% | +0.06 |
| KO The Coca-Cola Co. | Add +8.2% | 0.29% | +0.05 |
| VTI VG Morningstar TS MKT ETF-US | Add +27.1% | 0.18% | +0.05 |
| RDVY First Trust Rising Dividend | Add +0.3% | 0.51% | +0.04 |
| BDJ BlackRock Enhanced Eqty DVD | Add +13.9% | 0.15% | +0.03 |
| MSFT Microsoft Corp. | Add +2.6% | 2.59% | +0.03 |
| JEPQ JPM Nasdaq Equity Premium | Add +10.9% | 0.15% | +0.02 |
| XAGDX Abrdn GLBL DYNM Divid | Add +28.2% | 0.15% | +0.02 |
| DUK Duke Energy Corp. | Add +5.7% | 0.42% | +0.02 |
| SDY SS SPDR S&P Dividend ETF | Add +3.9% | 0.26% | +0.02 |
| QYLD Global X Nasd 100 Cov Call | Add +4.3% | 0.14% | +0.02 |
| HQL Abrdn Life Sciences Investor | Add +3.0% | 0.12% | +0.02 |
| BX Blackstone Inc. | Add +18.3% | 0.15% | +0.02 |
| XFOFX Cohen & Steers Closed-End Op | Add +3.7% | 0.14% | +0.01 |
| MA Mastercard Inc. Class A | Add +0.9% | 0.20% | +0.01 |
| IJR iShares Core S&P Small-Cap E | Add +4.3% | 0.11% | +0.01 |
| DIAX Nuveen Dow 30 Dynamic Overwr | Add +3.3% | 0.11% | +0.01 |
| IVE iShares S&P 500 Value ETF | Add +0.1% | 0.15% | +0.01 |
| USA Liberty All Star Equity Fund | Add +8.1% | 0.06% | +0.01 |
| ORCL Oracle Corp. | Add +25.3% | 0.12% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 175 | $238.8M | IVV, AAPL, HDV, IVW, QQQ |
| Q1 2026 | 154 | $204.1M | IVV, AAPL, HDV, PLTR, IVW |
| Q4 2025 | 133 | $201.2M | IVV, AAPL, HDV, PLTR, META |
| Q3 2025 | 122 | $212.3M | IVV, MSTR, AAPL, HDV, PLTR |
| Q2 2025 | 120 | $200.5M | IVV, MSTR, AAPL, HDV, META |
| Q1 2025 | 112 | $176.8M | IVV, MSTR, AAPL, HDV, PG |
| Q4 2024 | 114 | $187.4M | IVV, MSTR, AAPL, HDV, META |
| Q3 2024 | 108 | $165.0M | IVV, AAPL, MSTR, HDV, PG |
| Q2 2024 | 108 | $152.5M | IVV, AAPL, HDV, MSTR, PG |
| Q1 2024 | 102 | $146.9M | IVV, AAPL, MSTR, HDV, PG |