Keystone Financial Group

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 8, 2024), Keystone Financial Group reported 346 stock positions worth $683.3 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 10.6% of the portfolio, followed by Ste STR SPDR PT S&P 500 ETF (SPYM, 5.5%) and Apple (AAPL, 5.1%). Compared with Q4 2023, it opened 57 new positions, sold out of 8, added to 183 and reduced 86. The biggest buy was a new position in Ishrs US E F R A ETF-Usd (DYNF) and the biggest sale Ste STR SPDR PT S&P 500 ETF (SPYM, shares −24%).

Most Recent 13F
Q2 2026
Location
LEXINGTON, KY
CIK
0001729299
Portfolio Value
$683.3M (Q1 2024)
SEC Filing
0001765380-24-000201 ↗ filed May 8, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $683.3M $683.3M Q1 2024 Q2 2024: $275.4M Q2 2024 Q3 2024: $777.2M Q3 2024 Q4 2024: $1.0B Q4 2024 Q1 2025: $979.6M Q1 2025 Q2 2025: $1.1B Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $1.3B Q4 2025 Q1 2026: $1.5B Q1 2026 Q2 2026: $1.7B Q2 2026

Holdings 346 stocks · $683.3M
SPY SS SPDR S&P 500 ETF Trust-US 10.60% 138,467 $72.4M Add +3.6%
SPYM Ste STR SPDR PT S&P 500 ETF 5.47% 607,588 $37.4M Reduce -24.0%
AAPL Apple Inc. 5.07% 202,102 $34.7M Add +4.7%
VTI VG Morningstar TS MKT ETF-US 3.84% 100,974 $26.2M Add +2.7%
SPYG SS SPDR P S&P 500 Growth ETF 3.59% 335,790 $24.6M Add +47.9%
MSFT Microsoft Corp. 2.92% 47,391 $19.9M Add +8.6%
SPYV SS SPDR P S&P 500 Value ETF 2.70% 368,859 $18.5M Add +42.5%
VOO Vanguard S&P 500 ETF 2.54% 36,066 $17.3M Add +39.2%
NVDA Nvidia Corp. 1.99% 15,059 $13.6M Reduce -0.1%
JQUA JPMorgan US Quality Factor 1.91% 246,564 $13.0M Add +5.2%
BRK.B Berkshire Hathaway Inc. Class B 1.84% 29,938 $12.6M Add +11.0%
BRK.A Berkshire Hathaway Inc. Class A 1.58% 17 $10.8M No change
VTV Vanguard Mrngstr Val ETF-Aui 1.52% 63,929 $10.4M Reduce -2.6%
DYNF Ishrs US E F R A ETF-Usd Inc. 1.52% 233,294 $10.4M New
AMZN Amazon.com Inc. 1.35% 50,985 $9.2M Reduce -1.5%
CFO Victoryshares US 500 Enhance 1.05% 108,590 $7.2M Add +0.6%
QQQ Invesco QQQ Trust Series 1 1.04% 15,977 $7.1M Add +24.0%
AMD Advanced Micro Devices 1.03% 39,169 $7.1M Reduce -0.7%
META Meta Platforms Inc. Class A 0.95% 13,412 $6.5M Add +0.2%
IVV iShares Core S&P 500 ETF 0.91% 11,832 $6.2M Add +32.2%
PG The Procter & Gamble Co. 0.86% 36,304 $5.9M Reduce -3.1%
BND Vanguard Total Bond Market 0.85% 79,508 $5.8M Add +2.1%
XOM Exxon Mobil Corp. 0.83% 49,032 $5.7M Add +8.8%
GOOG Alphabet Inc. Class C 0.80% 35,970 $5.5M Add +3.5%
XLE SS Energy Select Sector 0.80% 57,657 $5.4M Add +1.3%
VUG Vanguard Mrngstar GR ETF-Sui 0.78% 15,483 $5.3M Add +3.6%
VIG Vanguard Dividend Apprec ETF 0.77% 28,627 $5.2M Add +4.0%
TSLA Tesla Inc. 0.67% 26,158 $4.6M Add +5.3%
ITOT iShares Core S&P Total U.S. 0.63% 37,504 $4.3M Add +0.9%
JPM JPMorgan Chase & Co. 0.61% 20,873 $4.2M Add +10.9%
GOOGL Alphabet Inc. Class A 0.60% 27,250 $4.1M Add +13.0%
VOOG Vanguard S&P 500 Growth ETF 0.60% 13,394 $4.1M Add +4.3%
VB Vanguard Most SM-Cap ETF-Usd 0.59% 17,562 $4.0M Add +3.0%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.58% 15,885 $4.0M Add +4.1%
PLTR Palantir Technologies Inc. Class A 0.58% 172,193 $4.0M Add +11.5%
JNJ Johnson & Johnson 0.55% 23,817 $3.8M Reduce -0.2%
TCAF T Rowe PRC Cap Appreciation 0.55% 123,606 $3.7M Add +38.4%
RSP Invesco S&P 500 Equal Weight 0.54% 21,783 $3.7M Reduce -5.0%
SPTL SS SPDR PF LNG TRM TSY E-Usd 0.52% 127,030 $3.5M Add +11.6%
VOOV Vanguard S&P 500 Value ETF 0.51% 19,473 $3.5M Add +5.3%
MRK Merck & Co. Inc. 0.51% 26,492 $3.5M Add +2.7%
LOW Lowe's Cos Inc. 0.50% 13,425 $3.4M Add +145.7%
USMV iShares MSCI USA Min Vol Fac 0.49% 39,986 $3.3M Add +12.4%
MDY State Street SPDR S&P Midcap 0.49% 5,984 $3.3M Add +2.2%
DGRO iShares Core Dividend Growth 0.46% 53,653 $3.1M Reduce -3.1%
BINC iShares Flex I A ETF-Usd Inc. 0.45% 58,278 $3.1M New
IVOO Vanguard S&P Mid-Cap 400 ETF 0.44% 29,292 $3.0M Add +2.7%
ABBV Abbvie Inc. 0.44% 16,428 $3.0M Add +11.3%
PEP Pepsico Inc. 0.44% 17,057 $3.0M Add +3.8%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.44% 7,478 $3.0M Add +18.4%
IJR iShares Core S&P Small-Cap E 0.42% 25,667 $2.8M Add +13.9%
HEFA Isha Curr Hedged MSCI Eafe 0.41% 80,449 $2.8M New
CDC Victoryshares US Eq Income E 0.40% 46,084 $2.7M Reduce -8.6%
LLY Eli Lilly & Co. 0.40% 3,511 $2.7M Add +46.7%
VIOO Vanguard S&P Small-Cap 600 E 0.39% 26,022 $2.6M Add +2.8%
MCD McDonald's Corp. 0.39% 9,333 $2.6M Add +3.8%
SPMB SS SPDR P Mort Back Bond ETF 0.38% 118,137 $2.6M Add +17.3%
BA The Boeing Co. 0.37% 13,232 $2.6M Reduce -2.6%
SPIP SS SPDR P Tips ETF 0.35% 92,560 $2.4M Add +6.8%
GRID First TRST Nasd Class Edg Sgiif 0.35% 20,674 $2.4M Reduce -0.2%
XLF SS Financial Select Sector 0.33% 53,796 $2.3M Add +2.3%
HD Home Depot Inc. 0.33% 5,855 $2.2M Add +2.2%
CFA Victoryshares US 500 Volatil 0.33% 27,327 $2.2M Add +89.6%
RDVY First Trust Rising Dividend 0.32% 38,841 $2.2M Add +8.2%
QUAL iShares MSCI USA Quality Fac 0.31% 12,788 $2.1M Add +4.4%
V Visa Inc. Class A 0.30% 7,440 $2.1M Add +73.4%
VYM Vanguard High DVD Yield ETF 0.30% 17,053 $2.1M Add +1.6%
CVX Chevron Corp. 0.30% 12,906 $2.0M Add +15.1%
IXN iShares Global Tech ETF 0.28% 25,759 $1.9M Reduce -3.9%
ABT Abbott Laboratories 0.28% 16,677 $1.9M Reduce -0.6%
IEFA iShares Core MSCI Eafe ETF 0.27% 25,007 $1.9M Reduce -3.5%
SCHG Schwab US Large-Cap Growth 0.26% 19,254 $1.8M Reduce -5.3%
KO The Coca-Cola Co. 0.26% 29,079 $1.8M Add +14.1%
IP International Paper Co. 0.26% 45,225 $1.8M Add +0.1%
FV First Trust DW Focus 5 Fund 0.24% 29,025 $1.7M Add +19.6%
MPC Marathon Petroleum Corp. 0.24% 7,986 $1.6M Add +74.6%
FMB First Trust Managed Municipa 0.24% 31,287 $1.6M Add +0.6%
CMG Chipotle Mexican Grill Inc. 0.23% 533 $1.5M Add +0.4%
PM Philip Morris International 0.22% 16,305 $1.5M Add +4.4%
NSC Norfolk Southern Corp. 0.22% 5,820 $1.5M Add +0.0%
XLK SS Technology Select Sector 0.21% 6,988 $1.5M Add +60.6%
PFE Pfizer Inc. 0.21% 52,124 $1.4M Add +37.5%
NFLX Netflix Inc. 0.21% 2,362 $1.4M Add +6.6%
VSDA Victoryshares Dividend Accel 0.21% 28,190 $1.4M Reduce -1.4%
IEMG iShares Core MSCI Emerging 0.21% 27,164 $1.4M Add +42.7%
IJH iShares Core S&P Midcap ETF 0.20% 23,018 $1.4M Add +16.9%
TFLO iShares Treasury Floating Ra 0.19% 26,019 $1.3M New
SDVY First Trust Smid Cap Rising 0.19% 37,676 $1.3M New
IQLT iShares MSCI International Q 0.19% 32,404 $1.3M New
GE General Electric 0.18% 7,066 $1.2M Add +16.3%
CSCO Cisco Systems Inc. 0.18% 24,565 $1.2M Add +2.8%
IUSG iShares Core S&P U.S. Growth 0.18% 10,361 $1.2M Add +0.3%
UPS United Parcel Service Class B 0.18% 8,099 $1.2M Add +9.3%
UNH Unitedhealth Group Inc. 0.17% 2,364 $1.2M Add +42.4%
WMT Walmart Inc. 0.17% 19,261 $1.2M Reduce -11.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.17% 30,451 $1.2M Add +10.1%
QCOM Qualcomm Inc. 0.16% 6,619 $1.1M Add +2.4%
VGT Vanguard Info Tech ETF 0.16% 2,110 $1.1M Add +0.5%
UL Unilever PLC 0.16% 21,982 $1.1M Add +2.1%
FTCS First Trust Capital Strength 0.16% 12,689 $1.1M Add +6.2%

Show all 346 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $3.2M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 2,602$3.2MAdd +0.3%

Total filed on the 13F, all lines: $686.5M.

Portfolio Sells Q4 2023 → Q1 2024
SPYM Ste STR SPDR PT S&P 500 ETF Reduce -24.0% 5.47% −2.34
XLG Invesco S&P 500 Top 50 ETF Reduce -82.9% 0.13% −0.68
USFR Wisdomtree Floating Rate Tre Reduce -90.1% 0.05% −0.54
SPLV Invesco S&P 500 Low Volatili Reduce -71.3% 0.14% −0.40
BA The Boeing Co. Reduce -2.6% 0.37% −0.25
VTV Vanguard Mrngstr Val ETF-Aui Reduce -2.6% 1.52% −0.19
JNJ Johnson & Johnson Reduce -0.2% 0.55% −0.10
PG The Procter & Gamble Co. Reduce -3.1% 0.86% −0.10
CDC Victoryshares US Eq Income E Reduce -8.6% 0.40% −0.10
RSP Invesco S&P 500 Equal Weight Reduce -5.0% 0.54% −0.09
DGRO iShares Core Dividend Growth Reduce -3.1% 0.46% −0.07
MU Micron Technology Inc. Sold out 0.00% −0.05
IEFA iShares Core MSCI Eafe ETF Reduce -3.5% 0.27% −0.05
ABT Abbott Laboratories Reduce -0.6% 0.28% −0.05
BLV Vanguard Long-Term Bond ETF Sold out 0.00% −0.05
AIRG Airgain Inc. Sold out 0.00% −0.04
OBDC Blue Owl Capital Corp. Sold out 0.00% −0.04
T AT&T Inc. Reduce -8.6% 0.16% −0.04
LRGF iShares US Equity Factor ETF Sold out 0.00% −0.04
TOTL SS Doubleline TR Tact ETF Reduce -11.5% 0.11% −0.04
VMBS Vanguard Mortgage-Backed Sec Sold out 0.00% −0.04
IXN iShares Global Tech ETF Reduce -3.9% 0.28% −0.04
ADBE Adobe Inc. Sold out 0.00% −0.04
SCHG Schwab US Large-Cap Growth Reduce -5.3% 0.26% −0.03
FSK FS KKR Capital Corp. Reduce -12.8% 0.08% −0.03
GRID First TRST Nasd Class Edg Sgiif Reduce -0.2% 0.35% −0.03
WMT Walmart Inc. Reduce -11.8% 0.17% −0.03
VSDA Victoryshares Dividend Accel Reduce -1.4% 0.21% −0.03
BSV Vanguard Short-Term Bond ETF Reduce -38.3% 0.03% −0.03
AMZN Amazon.com Inc. Reduce -1.5% 1.35% −0.03
SLYV SS SPDR S&P 600 SC Val ETF Reduce -1.8% 0.12% −0.03
XLP SS Consumer Staples Sel Sect Reduce -9.0% 0.11% −0.03
STX Seagate Technology Holdings Reduce -5.5% 0.15% −0.02
IOVA Iovance Biotherapeutics Inc. Sold out 0.00% −0.02
XNIEX Virtus Equity & Convertible Reduce -3.0% 0.14% −0.02
KRE SS SPDR S&P Regional Bank Reduce -24.6% 0.03% −0.02
VEU Vanguard Ftse All-World Ex-U Reduce -0.6% 0.13% −0.02
COIN Coinbase Global Inc. Class A Reduce -33.2% 0.11% −0.02
VTIP Vanguard Short-Term Tips Reduce -21.9% 0.04% −0.02
MDYV SS SPDR S&P 400 MC Val ETF Reduce -0.8% 0.11% −0.02
EFAV iShares MSCI Eafe Min Vol Fa Reduce -7.8% 0.06% −0.02
VWO Vanguard Ftse Emerging Marke Reduce -1.9% 0.08% −0.02
ACWV iShares MSCI Global Min Vol Reduce -11.9% 0.05% −0.02
FVC First Trust Dorsey Wright DY Reduce -7.2% 0.07% −0.02
SDOG Alps Sector Dividend Dogs Reduce -11.8% 0.05% −0.01
FDX FedEx Corp. Reduce -13.0% 0.07% −0.01
SIZE iShares MSCI USA Size Factor Reduce -4.8% 0.09% −0.01
F Ford Motor Co. Reduce -10.3% 0.06% −0.01
TIP iShares Tips Bond ETF Reduce -7.5% 0.05% −0.01
USB US Bancorp Reduce -1.5% 0.08% −0.01

Portfolio Buys Q4 2023 → Q1 2024
DYNF Ishrs US E F R A ETF-Usd Inc. New 1.52% +1.52
SPYG SS SPDR P S&P 500 Growth ETF Add +47.9% 3.59% +1.01
SPYV SS SPDR P S&P 500 Value ETF Add +42.5% 2.70% +0.59
VOO Vanguard S&P 500 ETF Add +39.2% 2.54% +0.56
BINC iShares Flex I A ETF-Usd Inc. New 0.45% +0.45
HEFA Isha Curr Hedged MSCI Eafe New 0.41% +0.41
LOW Lowe's Cos Inc. Add +145.7% 0.50% +0.29
TFLO iShares Treasury Floating Ra New 0.19% +0.19
SDVY First Trust Smid Cap Rising New 0.19% +0.19
IQLT iShares MSCI International Q New 0.19% +0.19
IVV iShares Core S&P 500 ETF Add +32.2% 0.91% +0.16
BRK.B Berkshire Hathaway Inc. Class B Add +11.0% 1.84% +0.16
LLY Eli Lilly & Co. Add +46.7% 0.40% +0.16
CFA Victoryshares US 500 Volatil Add +89.6% 0.33% +0.14
BUFR FT Vest Lad Buffervetf-Usd I New 0.13% +0.13
META Meta Platforms Inc. Class A Add +0.2% 0.95% +0.12
MPC Marathon Petroleum Corp. Add +74.6% 0.24% +0.12
PLTR Palantir Technologies Inc. Class A Add +11.5% 0.58% +0.12
QQQ Invesco QQQ Trust Series 1 Add +24.0% 1.04% +0.12
TCAF T Rowe PRC Cap Appreciation Add +38.4% 0.55% +0.12
V Visa Inc. Class A Add +73.4% 0.30% +0.11
GOVT iShares US Treasury Bond ETF New 0.10% +0.10
CSX CSX Corp. New 0.09% +0.09
PULS Pgim Ultra Short Bond ETF New 0.08% +0.08
GBTC Grayscale Bitcoin Trust ETF New 0.08% +0.08
SPGP Invesco S&P 500 Garp ETF New 0.07% +0.07
IVW iShares S&P 500 Growth ETF New 0.07% +0.07
EMXC iShares MSCI Emr MRK Ex Chna New 0.07% +0.07
MOAT Vaneck Morningstar Wide Moat New 0.07% +0.07
FIXD First Trust Smith Opportunis New 0.07% +0.07
XLK SS Technology Select Sector Add +60.6% 0.21% +0.07
TMFC Motley Fool 100 Index ETF New 0.06% +0.06
VICTORY PORTFOLIOS II New 0.06% +0.06
AXP American Express Co. New 0.05% +0.05
PDD PDD Holdings Inc. New 0.05% +0.05
JPM JPMorgan Chase & Co. Add +10.9% 0.61% +0.05
CAT Caterpillar Inc. New 0.05% +0.05
CPA Copa Holdings SA Class A New 0.05% +0.05
MSFT Microsoft Corp. Add +8.6% 2.92% +0.05
MINT PIMCO Enhanced Short Maturit Add +164.3% 0.09% +0.05
XOM Exxon Mobil Corp. Add +8.8% 0.83% +0.05
GE General Electric Add +16.3% 0.18% +0.05
XLY SS Consumer Disc Select Sect New 0.05% +0.05
NVO Novo-Nordisk A/S-Spons ADR New 0.04% +0.04
COP Conocophillips New 0.04% +0.04
VICTORY PORTFOLIOS II New 0.04% +0.04
TSM Taiwan Semiconductor-SP ADR New 0.04% +0.04
EMLP First Trust North American E Add +123.2% 0.08% +0.04
KNX Knight-Swift Transportation New 0.04% +0.04
VONE Vanguard Russell 1000 Add +51.0% 0.14% +0.04

Notes & Other Activity Q4 2023 → Q1 2024
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Add +0.3% 2,602 $3.2M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 565$1.7BAAPL, SPY, SPYM, STX, SPYG
Q1 2026 522$1.5BAAPL, SPY, SPYM, VFLO, STX
Q4 2025 452$1.3BAAPL, SPY, PLTR, SPYM, VFLO
Q3 2025Amended 422$1.3BSPY, AAPL, PLTR, NVDA, VTI
Q2 2025 428$1.1BSPY, AAPL, SPYM, NVDA, VTI
Q1 2025 393$979.6MAAPL, SPY, SPYM, SPYG, VTI
Q4 2024 388$1.0BAAPL, SPY, SPYM, SPYG, VTI
Q3 2024Amended 371$777.2MSPY, AAPL, SPYM, SPYG, VTI
Q2 2024 167$275.4MAAPL, MSFT, NVDA, BRK.B, BRK.A
Q1 2024 346$683.3MSPY, SPYM, AAPL, VTI, SPYG