Keystone Financial Group
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Keystone Financial Group reported 388 stock positions worth $1.0 billion. Its top holding was Apple (AAPL) at 8.8% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 7.2%) and Ste STR SPDR PT S&P 500 ETF (SPYM, 4.2%). Compared with Q3 2024, it opened 36 new positions, sold out of 19, added to 216 and reduced 108. The biggest buy was Apple (AAPL, shares +79%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- LEXINGTON, KY
- CIK
- 0001729299
- Portfolio Value
- $1.0B (Q4 2024)
- SEC Filing
- 0001765380-25-000102 ↗ filed Feb 13, 2025
Holdings Value
Holdings 388 stocks · $1.0B
| AAPL Apple Inc. | 8.83% | 360,158 | $89.4M | Add +79.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 7.24% | 124,984 | $73.3M | Reduce -2.2% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 4.23% | 621,668 | $42.9M | Add +1.5% |
| SPYG SS SPDR P S&P 500 Growth ETF | 3.34% | 384,830 | $33.8M | Add +3.1% |
| VTI VG Morningstar TS MKT ETF-US | 3.05% | 106,397 | $30.8M | Add +3.7% |
| TSLA Tesla Inc. | 2.97% | 83,357 | $30.1M | Add +193.1% |
| NVDA Nvidia Corp. | 2.78% | 210,551 | $28.1M | Add +35.9% |
| AMZN Amazon.com Inc. | 2.04% | 92,451 | $20.7M | Add +83.0% |
| MSFT Microsoft Corp. | 2.04% | 49,120 | $20.7M | Add +4.0% |
| META Meta Platforms Inc. Class A | 2.04% | 31,091 | $20.6M | Add +127.5% |
| PLTR Palantir Technologies Inc. Class A | 1.82% | 243,209 | $18.4M | Add +7.1% |
| VOO Vanguard S&P 500 ETF | 1.80% | 33,612 | $18.2M | Reduce -12.0% |
| VFLO Victoryshares Free Cash Flow | 1.77% | 524,780 | $17.9M | Add +1352.5% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 1.72% | 339,896 | $17.4M | Add +26.0% |
| JQUA JPMorgan US Quality Factor | 1.69% | 299,193 | $17.1M | Add +7.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.49% | 22 | $15.1M | Add +29.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.49% | 33,091 | $15.0M | Add +7.5% |
| JPM JPMorgan Chase & Co. | 1.36% | 52,772 | $13.7M | Add +139.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.08% | 64,293 | $10.9M | Add +0.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.90% | 17,898 | $9.1M | Add +1.3% |
| BND Vanguard Total Bond Market | 0.90% | 126,424 | $9.1M | Add +52.0% |
| AMD Advanced Micro Devices | 0.84% | 73,333 | $8.5M | Add +88.3% |
| BUFR FT Vest Lad Buffervetf-Usd I | 0.77% | 254,402 | $7.8M | Add +596.2% |
| TOTL SS Doubleline TR Tact ETF | 0.75% | 192,400 | $7.6M | Add +1140.8% |
| GOOG Alphabet Inc. Class C | 0.71% | 37,856 | $7.2M | Add +6.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.68% | 16,852 | $6.9M | Reduce -0.8% |
| PG The Procter & Gamble Co. | 0.68% | 40,991 | $6.9M | Add +13.2% |
| IVV iShares Core S&P 500 ETF | 0.68% | 11,625 | $6.8M | Add +0.0% |
| JNJ Johnson & Johnson | 0.64% | 43,517 | $6.5M | Add +69.0% |
| TCAF T Rowe PRC Cap Appreciation | 0.64% | 194,779 | $6.5M | Add +7.0% |
| HEFA Isha Curr Hedged MSCI Eafe | 0.61% | 177,006 | $6.2M | Add +8.3% |
| VIG Vanguard Dividend Apprec ETF | 0.60% | 31,169 | $6.1M | Add +0.5% |
| CFO Victoryshares US 500 Enhance | 0.59% | 87,138 | $6.0M | Reduce -10.4% |
| LOW Lowe's Cos Inc. | 0.59% | 24,051 | $6.0M | Add +69.8% |
| MCD McDonald's Corp. | 0.58% | 19,522 | $5.9M | Add +132.9% |
| XOM Exxon Mobil Corp. | 0.55% | 51,437 | $5.5M | Add +0.9% |
| STX Seagate Technology Holdings | 0.53% | 55,773 | $5.4M | Add +349.8% |
| GOOGL Alphabet Inc. Class A | 0.53% | 28,251 | $5.3M | Add +4.2% |
| T AT&T Inc. | 0.53% | 216,980 | $5.3M | Add +196.3% |
| VOOG Vanguard S&P 500 Growth ETF | 0.52% | 14,287 | $5.2M | Reduce -0.8% |
| BIDD iShares International Divide | 0.51% | 209,327 | $5.2M | New |
| IQLT iShares MSCI International Q | 0.50% | 137,187 | $5.1M | Add +336.2% |
| QUAL iShares MSCI USA Quality Fac | 0.50% | 28,486 | $5.1M | Add +117.3% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.48% | 20,231 | $4.9M | Add +2.8% |
| MTUM iShares MSCI USA Momentum Fa | 0.48% | 23,341 | $4.8M | Add +333.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.46% | 17,703 | $4.7M | Add +0.5% |
| MLN Vaneck Long Muni ETF | 0.45% | 257,656 | $4.6M | Add +402.7% |
| ITOT iShares Core S&P Total U.S. | 0.45% | 35,330 | $4.5M | Reduce -4.4% |
| ABT Abbott Laboratories | 0.44% | 36,634 | $4.5M | Add +118.1% |
| MDY State Street SPDR S&P Midcap | 0.44% | 7,852 | $4.5M | Add +31.2% |
| BA The Boeing Co. | 0.43% | 24,118 | $4.4M | Add +114.5% |
| CMG Chipotle Mexican Grill Inc. | 0.43% | 74,298 | $4.3M | Add +152.3% |
| GBTC Grayscale Bitcoin Trust ETF | 0.41% | 54,729 | $4.2M | Add +309.0% |
| HD Home Depot Inc. | 0.41% | 10,430 | $4.1M | Add +71.4% |
| XMPT Vaneck Cef Muni Income ETF | 0.41% | 188,899 | $4.1M | Add +545.6% |
| VOOV Vanguard S&P 500 Value ETF | 0.40% | 21,748 | $4.0M | Add +2.0% |
| USMV iShares MSCI USA Min Vol Fac | 0.38% | 43,327 | $3.8M | Add +8.8% |
| SHM SS SPDR N Ice St Muni ETF | 0.38% | 143,619 | $3.8M | Add +2238.7% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.37% | 143,985 | $3.8M | Add +10.6% |
| DGRO iShares Core Dividend Growth | 0.33% | 55,180 | $3.4M | Add +1.1% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.33% | 65,143 | $3.3M | Reduce -81.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.32% | 29,815 | $3.3M | Add +207.8% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.32% | 58,848 | $3.3M | Add +4.9% |
| ABBV Abbvie Inc. | 0.32% | 17,952 | $3.2M | Add +0.9% |
| RSP Invesco S&P 500 Equal Weight | 0.31% | 18,183 | $3.2M | Reduce -0.7% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 0.30% | 29,257 | $3.1M | Reduce -0.5% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.29% | 6,856 | $2.9M | Reduce -1.5% |
| GRID First TRST Nasd Class Edg Sgiif | 0.29% | 24,422 | $2.9M | Add +13.1% |
| IJR iShares Core S&P Small-Cap E | 0.28% | 24,853 | $2.9M | Reduce -2.2% |
| VIOO Vanguard S&P Small-Cap 600 E | 0.28% | 26,623 | $2.8M | Reduce -0.8% |
| SPMB SS SPDR P Mort Back Bond ETF | 0.27% | 128,102 | $2.8M | Add +9.1% |
| NKE Nike Inc. Class B | 0.27% | 37,497 | $2.7M | Add +271.4% |
| MRK Merck & Co. Inc. | 0.27% | 27,242 | $2.7M | Add +0.9% |
| XLE SS Energy Select Sector | 0.27% | 31,467 | $2.7M | Add +0.3% |
| BINC iShares Flex I A ETF-Usd Inc. | 0.26% | 51,425 | $2.7M | Reduce -18.6% |
| PEP Pepsico Inc. | 0.26% | 17,508 | $2.7M | Add +1.6% |
| NFLX Netflix Inc. | 0.26% | 2,909 | $2.7M | Add +25.6% |
| RH RH | 0.26% | 6,966 | $2.6M | Add +302.9% |
| XLF SS Financial Select Sector | 0.26% | 53,932 | $2.6M | Reduce -0.1% |
| LLY Eli Lilly & Co. | 0.25% | 3,213 | $2.5M | Reduce -33.0% |
| CVX Chevron Corp. | 0.24% | 16,889 | $2.4M | Add +7.1% |
| XLK SS Technology Select Sector | 0.23% | 10,129 | $2.4M | Add +50.2% |
| V Visa Inc. Class A | 0.23% | 7,320 | $2.3M | Add +1.3% |
| CDC Victoryshares US Eq Income E | 0.23% | 36,526 | $2.3M | Reduce -5.8% |
| RDVY First Trust Rising Dividend | 0.22% | 38,364 | $2.3M | Reduce -1.3% |
| LNC Lincoln National Corp. | 0.22% | 59,555 | $2.2M | Add +462.6% |
| CFA Victoryshares US 500 Volatil | 0.22% | 26,189 | $2.2M | Reduce -5.6% |
| SDVY First Trust Smid Cap Rising | 0.22% | 61,019 | $2.2M | Add +10.4% |
| VYM Vanguard High DVD Yield ETF | 0.21% | 16,749 | $2.1M | Add +0.5% |
| IXN iShares Global Tech ETF | 0.21% | 24,843 | $2.1M | Reduce -5.2% |
| PM Philip Morris International | 0.21% | 17,333 | $2.1M | Add +3.9% |
| VONE Vanguard Russell 1000 | 0.20% | 7,675 | $2.0M | Add +7.5% |
| WMT Walmart Inc. | 0.19% | 21,623 | $2.0M | Add +6.3% |
| KO The Coca-Cola Co. | 0.19% | 30,294 | $1.9M | Add +0.4% |
| FMB First Trust Managed Municipa | 0.19% | 36,844 | $1.9M | Add +3.7% |
| PFE Pfizer Inc. | 0.18% | 69,683 | $1.8M | Reduce -0.7% |
| SCHG Schwab US Large-Cap Growth | 0.18% | 65,577 | $1.8M | Reduce -9.3% |
| AVGO Broadcom Inc. | 0.17% | 7,514 | $1.7M | Add +10.9% |
| AGG iShares Core U.S. Aggregate | 0.17% | 17,803 | $1.7M | Add +392.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.17% | 24,172 | $1.7M | Reduce -0.9% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $4.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 3,128 | $3.7M | Add +19.4% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 16,465 | $670K | Reduce -15.9% |
Total filed on the 13F, all lines: $1.0B.
Portfolio Sells Q3 2024 → Q4 2024
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.2% | 7.24% | −2.20 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -81.4% | 0.33% | −2.06 |
| VOO Vanguard S&P 500 ETF | Reduce -12.0% | 1.80% | −0.80 |
| LLY Eli Lilly & Co. | Reduce -33.0% | 0.25% | −0.30 |
| CFO Victoryshares US 500 Enhance | Reduce -10.4% | 0.59% | −0.28 |
| BINC iShares Flex I A ETF-Usd Inc. | Reduce -18.6% | 0.26% | −0.17 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -0.8% | 0.68% | −0.16 |
| ITOT iShares Core S&P Total U.S. | Reduce -4.4% | 0.45% | −0.15 |
| VOOG Vanguard S&P 500 Growth ETF | Reduce -0.8% | 0.52% | −0.12 |
| IP International Paper Co. | Reduce -31.3% | 0.16% | −0.12 |
| RSP Invesco S&P 500 Equal Weight | Reduce -0.7% | 0.31% | −0.11 |
| IJR iShares Core S&P Small-Cap E | Reduce -2.2% | 0.28% | −0.10 |
| CDC Victoryshares US Eq Income E | Reduce -5.8% | 0.23% | −0.10 |
| VIOO Vanguard S&P Small-Cap 600 E | Reduce -0.8% | 0.28% | −0.09 |
| IVOO Vanguard S&P Mid-Cap 400 ETF | Reduce -0.5% | 0.30% | −0.09 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -1.5% | 0.29% | −0.09 |
| CFA Victoryshares US 500 Volatil | Reduce -5.6% | 0.22% | −0.09 |
| PFE Pfizer Inc. | Reduce -0.7% | 0.18% | −0.08 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -0.9% | 0.17% | −0.08 |
| RDVY First Trust Rising Dividend | Reduce -1.3% | 0.22% | −0.07 |
| IXN iShares Global Tech ETF | Reduce -5.2% | 0.21% | −0.07 |
| SCHG Schwab US Large-Cap Growth | Reduce -9.3% | 0.18% | −0.06 |
| UL Unilever PLC | Reduce -0.6% | 0.12% | −0.06 |
| XLF SS Financial Select Sector | Reduce -0.1% | 0.26% | −0.06 |
| IEMG iShares Core MSCI Emerging | Reduce -0.5% | 0.13% | −0.06 |
| GE General Electric | Reduce -0.1% | 0.11% | −0.05 |
| PDD PDD Holdings Inc. | Sold out | 0.00% | −0.05 |
| QCOM Qualcomm Inc. | Reduce -1.2% | 0.10% | −0.05 |
| DUK Duke Energy Corp. | Reduce -0.1% | 0.11% | −0.04 |
| TIP iShares Tips Bond ETF | Sold out | 0.00% | −0.04 |
| BSCO Invesco Bulletshares 2024 CB | Sold out | 0.00% | −0.04 |
| BDX Becton Dickinson and Co. | Reduce -8.1% | 0.08% | −0.04 |
| CPA Copa Holdings SA Class A | Sold out | 0.00% | −0.04 |
| ALB Albemarle Corp. | Reduce -45.5% | 0.02% | −0.04 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -1.1% | 0.08% | −0.04 |
| VFVA Vanguard U.S. Value Factor | Reduce -4.6% | 0.09% | −0.04 |
| IUSG iShares Core S&P U.S. Growth | Reduce -2.5% | 0.14% | −0.04 |
| EFG iShares MSCI Eafe Growth ETF | Sold out | 0.00% | −0.04 |
| VFMV Vanguard US Minimum Volatili | Reduce -0.6% | 0.11% | −0.03 |
| PULS Pgim Ultra Short Bond ETF | Reduce -32.8% | 0.04% | −0.03 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce -21.6% | 0.03% | −0.03 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -5.0% | 0.12% | −0.03 |
| IRM Iron Mountain Inc. | Reduce -24.8% | 0.03% | −0.03 |
| KNX Knight-Swift Transportation | Sold out | 0.00% | −0.03 |
| XLG Invesco S&P 500 Top 50 ETF | Reduce -2.0% | 0.12% | −0.03 |
| SPIP SS SPDR P Tips ETF | Reduce -19.8% | 0.04% | −0.03 |
| IVW iShares S&P 500 Growth ETF | Reduce -33.1% | 0.04% | −0.03 |
| O Realty Income Corp. | Reduce -6.4% | 0.04% | −0.03 |
| TIPX SS SPDR BB 1-10YR Tips ETF | Sold out | 0.00% | −0.03 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.03 |
Portfolio Buys Q3 2024 → Q4 2024
| AAPL Apple Inc. | Add +79.3% | 8.83% | +2.81 |
| TSLA Tesla Inc. | Add +193.1% | 2.97% | +2.02 |
| VFLO Victoryshares Free Cash Flow | Add +1352.5% | 1.77% | +1.61 |
| META Meta Platforms Inc. Class A | Add +127.5% | 2.04% | +1.03 |
| AMZN Amazon.com Inc. | Add +83.0% | 2.04% | +0.83 |
| JPM JPMorgan Chase & Co. | Add +139.1% | 1.36% | +0.76 |
| PLTR Palantir Technologies Inc. Class A | Add +7.1% | 1.82% | +0.73 |
| TOTL SS Doubleline TR Tact ETF | Add +1140.8% | 0.75% | +0.67 |
| BUFR FT Vest Lad Buffervetf-Usd I | Add +596.2% | 0.77% | +0.63 |
| BIDD iShares International Divide | New | 0.51% | +0.51 |
| STX Seagate Technology Holdings | Add +349.8% | 0.53% | +0.36 |
| NVDA Nvidia Corp. | Add +35.9% | 2.78% | +0.36 |
| MTUM iShares MSCI USA Momentum Fa | Add +333.4% | 0.48% | +0.34 |
| SHM SS SPDR N Ice St Muni ETF | Add +2238.7% | 0.38% | +0.34 |
| IQLT iShares MSCI International Q | Add +336.2% | 0.50% | +0.34 |
| MLN Vaneck Long Muni ETF | Add +402.7% | 0.45% | +0.33 |
| GBTC Grayscale Bitcoin Trust ETF | Add +309.0% | 0.41% | +0.32 |
| XMPT Vaneck Cef Muni Income ETF | Add +545.6% | 0.41% | +0.32 |
| T AT&T Inc. | Add +196.3% | 0.53% | +0.32 |
| MCD McDonald's Corp. | Add +132.9% | 0.58% | +0.25 |
| BA The Boeing Co. | Add +114.5% | 0.43% | +0.21 |
| CMG Chipotle Mexican Grill Inc. | Add +152.3% | 0.43% | +0.21 |
| DIS The Walt Disney Co. | Add +207.8% | 0.32% | +0.20 |
| QUAL iShares MSCI USA Quality Fac | Add +117.3% | 0.50% | +0.20 |
| ABT Abbott Laboratories | Add +118.1% | 0.44% | +0.20 |
| RH RH | Add +302.9% | 0.26% | +0.19 |
| LNC Lincoln National Corp. | Add +462.6% | 0.22% | +0.18 |
| NKE Nike Inc. Class B | Add +271.4% | 0.27% | +0.16 |
| NFTY First Trust India Nifty 50 E | New | 0.13% | +0.13 |
| AGG iShares Core U.S. Aggregate | Add +392.2% | 0.17% | +0.12 |
| CGUS Cap Group Core Equity | New | 0.12% | +0.12 |
| SPYX SS SPDR S&P 500 Foss FL ETF | New | 0.12% | +0.12 |
| XJR Ishr ESG SS S&P Smal-Cap-Usd | New | 0.11% | +0.11 |
| PANW Palo Alto Networks Inc. | Add +284.6% | 0.15% | +0.10 |
| JNJ Johnson & Johnson | Add +69.0% | 0.64% | +0.10 |
| LOW Lowe's Cos Inc. | Add +69.8% | 0.59% | +0.10 |
| BND Vanguard Total Bond Market | Add +52.0% | 0.90% | +0.09 |
| HD Home Depot Inc. | Add +71.4% | 0.41% | +0.09 |
| DKNG Draftkings Inc. Class A | Add +171.9% | 0.13% | +0.07 |
| XLI SS Industrial Select Sector | Add +157.0% | 0.15% | +0.07 |
| OLLI Ollie's Bargain Outlet Holdi | Add +275.1% | 0.10% | +0.06 |
| IBIT iShares Bitcoin Trust ETF | New | 0.06% | +0.06 |
| AXON Axon Enterprise Inc. | New | 0.06% | +0.06 |
| CTBI Community Trust Bancorp Inc. | New | 0.06% | +0.06 |
| TJX TJX Companies Inc. | Add +193.0% | 0.09% | +0.05 |
| ABNB Airbnb Inc. Class A | Add +114.4% | 0.12% | +0.05 |
| IAU iShares Gold Trust | New | 0.05% | +0.05 |
| NFLX Netflix Inc. | Add +25.6% | 0.26% | +0.05 |
| FDX FedEx Corp. | Add +157.7% | 0.10% | +0.05 |
| IVE iShares S&P 500 Value ETF | New | 0.05% | +0.05 |
Notes & Other Activity Q3 2024 → Q4 2024
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +19.4% | 3,128 | $3.7M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Reduce -15.9% | 16,465 | $670K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 565 | $1.7B | AAPL, SPY, SPYM, STX, SPYG |
| Q1 2026 | 522 | $1.5B | AAPL, SPY, SPYM, VFLO, STX |
| Q4 2025 | 452 | $1.3B | AAPL, SPY, PLTR, SPYM, VFLO |
| Q3 2025Amended | 422 | $1.3B | SPY, AAPL, PLTR, NVDA, VTI |
| Q2 2025 | 428 | $1.1B | SPY, AAPL, SPYM, NVDA, VTI |
| Q1 2025 | 393 | $979.6M | AAPL, SPY, SPYM, SPYG, VTI |
| Q4 2024 | 388 | $1.0B | AAPL, SPY, SPYM, SPYG, VTI |
| Q3 2024Amended | 371 | $777.2M | SPY, AAPL, SPYM, SPYG, VTI |
| Q2 2024 | 167 | $275.4M | AAPL, MSFT, NVDA, BRK.B, BRK.A |
| Q1 2024 | 346 | $683.3M | SPY, SPYM, AAPL, VTI, SPYG |