Keystone Financial Group
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Keystone Financial Group reported 428 stock positions worth $1.1 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 6.7% of the portfolio, followed by Apple (AAPL, 6.7%) and Ste STR SPDR PT S&P 500 ETF (SPYM, 3.3%). Compared with Q1 2025, it opened 49 new positions, sold out of 14, added to 214 and reduced 131. The biggest buy was Palantir Technologies Class A (PLTR, shares +1%) and the biggest sale Ste STR SPDR PT S&P 500 ETF (SPYM, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- LEXINGTON, KY
- CIK
- 0001729299
- Portfolio Value
- $1.1B (Q2 2025)
- SEC Filing
- 0001765380-25-000370 ↗ filed Aug 13, 2025
Holdings Value
Holdings 428 stocks · $1.1B
| SPY SS SPDR S&P 500 ETF Trust-US | 6.73% | 120,144 | $74.3M | Reduce -4.3% |
| AAPL Apple Inc. | 6.70% | 354,157 | $74.0M | Add +2.4% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 3.34% | 506,955 | $36.9M | Reduce -14.7% |
| NVDA Nvidia Corp. | 3.22% | 216,428 | $35.5M | Add +1.9% |
| VTI VG Morningstar TS MKT ETF-US | 3.16% | 114,747 | $34.9M | Add +6.3% |
| PLTR Palantir Technologies Inc. Class A | 3.08% | 248,767 | $34.0M | Add +0.5% |
| SPYG SS SPDR P S&P 500 Growth ETF | 2.92% | 338,467 | $32.3M | Reduce -10.6% |
| TSLA Tesla Inc. | 2.59% | 86,226 | $28.6M | Add +2.6% |
| VFLO Victoryshares Free Cash Flow | 2.49% | 777,879 | $27.5M | Add +7.9% |
| MSFT Microsoft Corp. | 2.24% | 49,459 | $24.7M | Add +0.2% |
| META Meta Platforms Inc. Class A | 2.16% | 31,578 | $23.8M | Add +1.1% |
| AMZN Amazon.com Inc. | 1.87% | 93,963 | $20.7M | Add +2.3% |
| VOO Vanguard S&P 500 ETF | 1.78% | 34,395 | $19.6M | Add +4.8% |
| JQUA JPMorgan US Quality Factor | 1.76% | 324,328 | $19.5M | Add +0.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.74% | 39,766 | $19.3M | Add +16.2% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 1.73% | 351,727 | $19.2M | Add +0.4% |
| JPM JPMorgan Chase & Co. | 1.42% | 54,285 | $15.7M | Add +2.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.10% | 17 | $12.1M | No change |
| AMD Advanced Micro Devices | 1.09% | 76,356 | $12.0M | Add +2.5% |
| QQQ Invesco QQQ Trust Series 1 | 1.03% | 20,587 | $11.4M | Add +11.7% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.97% | 60,305 | $10.7M | Reduce -1.0% |
| BND Vanguard Total Bond Market | 0.92% | 137,721 | $10.1M | Add +3.6% |
| STX Seagate Technology Holdings | 0.79% | 58,163 | $8.7M | Add +2.5% |
| XLG Invesco S&P 500 Top 50 ETF | 0.79% | 167,415 | $8.7M | Add +37.5% |
| TCAF T Rowe PRC Cap Appreciation | 0.77% | 240,362 | $8.5M | Add +7.2% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.70% | 17,528 | $7.7M | Add +4.8% |
| IVV iShares Core S&P 500 ETF | 0.69% | 12,219 | $7.6M | Reduce -1.1% |
| JNJ Johnson & Johnson | 0.68% | 46,672 | $7.6M | Add +4.1% |
| TOTL SS Doubleline TR Tact ETF | 0.68% | 187,083 | $7.5M | Reduce -2.4% |
| THRO iShares U.S. Thematic Rotati | 0.64% | 200,164 | $7.1M | New |
| GOOG Alphabet Inc. Class C | 0.62% | 38,171 | $6.9M | Add +1.3% |
| HEFA Isha Curr Hedged MSCI Eafe | 0.62% | 180,246 | $6.8M | Add +98.5% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.61% | 252,476 | $6.7M | Add +37.7% |
| BIDD iShares International Divide | 0.61% | 245,339 | $6.7M | Add +1.8% |
| T AT&T Inc. | 0.58% | 226,412 | $6.4M | Add +3.5% |
| VIG Vanguard Dividend Apprec ETF | 0.57% | 30,750 | $6.3M | Add +2.4% |
| MCD McDonald's Corp. | 0.55% | 20,137 | $6.0M | Add +2.2% |
| MTUM iShares MSCI USA Momentum Fa | 0.54% | 25,011 | $6.0M | Add +6.4% |
| VOOG Vanguard S&P 500 Growth ETF | 0.53% | 14,882 | $5.9M | Add +4.0% |
| CFO Victoryshares US 500 Enhance | 0.53% | 81,839 | $5.8M | Reduce -3.6% |
| PG The Procter & Gamble Co. | 0.52% | 36,442 | $5.8M | Reduce -1.0% |
| LOW Lowe's Cos Inc. | 0.52% | 24,925 | $5.8M | Add +2.3% |
| BA The Boeing Co. | 0.50% | 25,345 | $5.6M | Add +3.1% |
| XOM Exxon Mobil Corp. | 0.49% | 50,137 | $5.4M | Reduce -0.6% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.49% | 85,354 | $5.4M | Add +23.2% |
| GOOGL Alphabet Inc. Class A | 0.46% | 28,238 | $5.0M | Reduce -2.6% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.46% | 18,038 | $5.0M | Add +2.6% |
| GBTC Grayscale Bitcoin Trust ETF | 0.45% | 54,331 | $5.0M | Add +1.1% |
| MLN Vaneck Long Muni ETF | 0.45% | 295,297 | $5.0M | Add +10.8% |
| ABT Abbott Laboratories | 0.45% | 37,081 | $5.0M | Add +1.0% |
| ITOT iShares Core S&P Total U.S. | 0.43% | 35,142 | $4.8M | Add +1.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.43% | 20,028 | $4.7M | Reduce -0.4% |
| LLY Eli Lilly & Co. | 0.42% | 56,871 | $4.6M | Add +1664.0% |
| XMPT Vaneck Cef Muni Income ETF | 0.41% | 218,385 | $4.6M | Add +11.6% |
| VOOV Vanguard S&P 500 Value ETF | 0.40% | 23,314 | $4.4M | Add +5.7% |
| NFLX Netflix Inc. | 0.37% | 3,127 | $4.1M | Add +3.9% |
| IAU iShares Gold Trust | 0.35% | 62,463 | $3.9M | Reduce -8.7% |
| BUFR FT Vest Lad Buffervetf-Usd I | 0.35% | 121,335 | $3.9M | Reduce -26.1% |
| IAGG iShares Intl Aggregate Bond | 0.34% | 74,515 | $3.8M | New |
| HD Home Depot Inc. | 0.34% | 10,115 | $3.8M | Add +0.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.34% | 32,302 | $3.7M | Add +4.3% |
| USMV iShares MSCI USA Min Vol Fac | 0.34% | 39,779 | $3.7M | Add +4.3% |
| QUAL iShares MSCI USA Quality Fac | 0.33% | 19,936 | $3.6M | Reduce -11.7% |
| MDY State Street SPDR S&P Midcap | 0.33% | 6,412 | $3.6M | Reduce -0.5% |
| CMG Chipotle Mexican Grill Inc. | 0.32% | 76,481 | $3.6M | Add +3.0% |
| XLF SS Financial Select Sector | 0.32% | 68,136 | $3.6M | Add +7.4% |
| NKE Nike Inc. Class B | 0.31% | 46,979 | $3.4M | Add +17.3% |
| ABBV Abbvie Inc. | 0.31% | 18,279 | $3.4M | Add +3.8% |
| RSP Invesco S&P 500 Equal Weight | 0.30% | 18,187 | $3.3M | Add +2.2% |
| DGRO iShares Core Dividend Growth | 0.29% | 50,732 | $3.2M | Reduce -3.7% |
| SPMB SS SPDR P Mort Back Bond ETF | 0.28% | 142,166 | $3.1M | Add +8.8% |
| CVX Chevron Corp. | 0.28% | 21,727 | $3.1M | Add +12.8% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 0.28% | 28,980 | $3.0M | Add +1.4% |
| PM Philip Morris International | 0.27% | 16,672 | $3.0M | Reduce -3.6% |
| WMT Walmart Inc. | 0.26% | 29,592 | $2.9M | Add +20.7% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.26% | 54,655 | $2.9M | Reduce -3.9% |
| VIOO Vanguard S&P Small-Cap 600 E | 0.24% | 26,628 | $2.7M | Add +2.4% |
| V Visa Inc. Class A | 0.23% | 7,289 | $2.6M | Add +0.7% |
| IJR iShares Core S&P Small-Cap E | 0.23% | 23,288 | $2.6M | Reduce -10.9% |
| VONE Vanguard Russell 1000 | 0.23% | 8,965 | $2.5M | Add +12.6% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.22% | 5,581 | $2.5M | Reduce -6.0% |
| KO The Coca-Cola Co. | 0.22% | 34,078 | $2.4M | Add +3.3% |
| BINC iShares Flex I A ETF-Usd Inc. | 0.22% | 45,006 | $2.4M | Add +5.9% |
| SDVY First Trust Smid Cap Rising | 0.21% | 65,650 | $2.3M | Reduce -10.8% |
| PFE Pfizer Inc. | 0.21% | 95,206 | $2.3M | Add +6.1% |
| RDVY First Trust Rising Dividend | 0.21% | 36,309 | $2.3M | Reduce -7.3% |
| FMB First Trust Managed Municipa | 0.20% | 45,102 | $2.2M | Add +4.6% |
| SGUXX Schwab Govt MNY FND-Ult | 0.20% | 2,218,184 | $2.2M | New |
| CDC Victoryshares US Eq Income E | 0.20% | 33,906 | $2.2M | Reduce -4.0% |
| MRK Merck & Co. Inc. | 0.19% | 27,101 | $2.1M | Add +1.5% |
| VYM Vanguard High DVD Yield ETF | 0.19% | 15,978 | $2.1M | Add +1.8% |
| IEMG iShares Core MSCI Emerging | 0.19% | 35,409 | $2.1M | Add +31.5% |
| PEP Pepsico Inc. | 0.19% | 16,015 | $2.1M | Reduce -50.0% |
| IXN iShares Global Tech ETF | 0.19% | 22,526 | $2.1M | Add +3.6% |
| AVGO Broadcom Inc. | 0.19% | 7,495 | $2.1M | Reduce -1.1% |
| XLE SS Energy Select Sector | 0.18% | 23,729 | $2.0M | Reduce -5.3% |
| CFA Victoryshares US 500 Volatil | 0.18% | 22,603 | $2.0M | Reduce -4.9% |
| CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET | 0.18% | 52,778 | $2.0M | Add +16.6% |
| IEFA iShares Core MSCI Eafe ETF | 0.17% | 22,854 | $1.9M | Add +1.0% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.17% | 3,616 | $1.8M | Add +25.9% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $4.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 2,767 | $3.1M | Add +5.3% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 28,450 | $913K | Add +11.2% |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q1 2025 → Q2 2025
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -14.7% | 3.34% | −0.65 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.3% | 6.73% | −0.45 |
| HYMB SS SPDR N Ice HY Muni ETF | Reduce -85.4% | 0.06% | −0.37 |
| PEP Pepsico Inc. | Reduce -50.0% | 0.19% | −0.30 |
| IQLT iShares MSCI International Q | Reduce -65.4% | 0.13% | −0.25 |
| LNC Lincoln National Corp. | Reduce -85.6% | 0.03% | −0.19 |
| SPYG SS SPDR P S&P 500 Growth ETF | Reduce -10.6% | 2.92% | −0.18 |
| BUFR FT Vest Lad Buffervetf-Usd I | Reduce -26.1% | 0.35% | −0.15 |
| XOM Exxon Mobil Corp. | Reduce -0.6% | 0.49% | −0.12 |
| PG The Procter & Gamble Co. | Reduce -1.0% | 0.52% | −0.11 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -1.0% | 0.97% | −0.11 |
| TOTL SS Doubleline TR Tact ETF | Reduce -2.4% | 0.68% | −0.10 |
| UNH Unitedhealth Group Inc. | Reduce -39.7% | 0.05% | −0.10 |
| AGG iShares Core U.S. Aggregate | Reduce -75.9% | 0.02% | −0.08 |
| NFTY First Trust India Nifty 50 E | Sold out | 0.00% | −0.07 |
| CFO Victoryshares US 500 Enhance | Reduce -3.6% | 0.53% | −0.07 |
| QUAL iShares MSCI USA Quality Fac | Reduce -11.7% | 0.33% | −0.06 |
| IAU iShares Gold Trust | Reduce -8.7% | 0.35% | −0.06 |
| XLE SS Energy Select Sector | Reduce -5.3% | 0.18% | −0.06 |
| IJR iShares Core S&P Small-Cap E | Reduce -10.9% | 0.23% | −0.05 |
| SDVY First Trust Smid Cap Rising | Reduce -10.8% | 0.21% | −0.04 |
| CDC Victoryshares US Eq Income E | Reduce -4.0% | 0.20% | −0.04 |
| XLI SS Industrial Select Sector | Reduce -35.3% | 0.07% | −0.04 |
| ELV Elevance Health Inc. | Reduce -23.9% | 0.06% | −0.04 |
| DGRO iShares Core Dividend Growth | Reduce -3.7% | 0.29% | −0.04 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -3.9% | 0.26% | −0.04 |
| SPHQ Invesco S&P 500 Quality ETF | Sold out | 0.00% | −0.03 |
| FXD First Trust Consumer Discret | Sold out | 0.00% | −0.03 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -6.0% | 0.22% | −0.03 |
| FTNT Fortinet Inc. | Sold out | 0.00% | −0.03 |
| UPS United Parcel Service Class B | Reduce -6.6% | 0.10% | −0.03 |
| RDVY First Trust Rising Dividend | Reduce -7.3% | 0.21% | −0.03 |
| MDY State Street SPDR S&P Midcap | Reduce -0.5% | 0.33% | −0.03 |
| NXPI NXP Semiconductors NV | Sold out | 0.00% | −0.03 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.4% | 0.43% | −0.03 |
| NLY Annaly Capital Management Inc. | Sold out | 0.00% | −0.03 |
| CFA Victoryshares US 500 Volatil | Reduce -4.9% | 0.18% | −0.02 |
| CDL Victoryshares US Large Cap H | Sold out | 0.00% | −0.02 |
| TPR Tapestry Inc. | Sold out | 0.00% | −0.02 |
| FVD First Trust Value Line DVD | Reduce -8.1% | 0.11% | −0.02 |
| IVV iShares Core S&P 500 ETF | Reduce -1.1% | 0.69% | −0.02 |
| TGT Target Corp. | Sold out | 0.00% | −0.02 |
| PPL PPL Corp. | Sold out | 0.00% | −0.02 |
| VICTORY PORTFOLIOS II | Sold out | 0.00% | −0.02 |
| CSCO Cisco Systems Inc. | Reduce -12.1% | 0.14% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -1.1% | 0.11% | −0.02 |
| MINT PIMCO Enhanced Short Maturit | Reduce -22.3% | 0.04% | −0.02 |
| SCHG Schwab US Large-Cap Growth | Reduce -13.1% | 0.14% | −0.02 |
| VSDA Victoryshares Dividend Accel | Reduce -2.8% | 0.10% | −0.02 |
| UL Unilever PLC | Reduce -2.7% | 0.12% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| PLTR Palantir Technologies Inc. Class A | Add +0.5% | 3.08% | +0.94 |
| NVDA Nvidia Corp. | Add +1.9% | 3.22% | +0.79 |
| THRO iShares U.S. Thematic Rotati | New | 0.64% | +0.64 |
| IAGG iShares Intl Aggregate Bond | New | 0.34% | +0.34 |
| MSFT Microsoft Corp. | Add +0.2% | 2.24% | +0.32 |
| HEFA Isha Curr Hedged MSCI Eafe | Add +98.5% | 0.62% | +0.28 |
| AMD Advanced Micro Devices | Add +2.5% | 1.09% | +0.28 |
| STX Seagate Technology Holdings | Add +2.5% | 0.79% | +0.22 |
| META Meta Platforms Inc. Class A | Add +1.1% | 2.16% | +0.22 |
| XLG Invesco S&P 500 Top 50 ETF | Add +37.5% | 0.79% | +0.22 |
| SGUXX Schwab Govt MNY FND-Ult | New | 0.20% | +0.20 |
| LLY Eli Lilly & Co. | Add +1664.0% | 0.42% | +0.15 |
| QQQ Invesco QQQ Trust Series 1 | Add +11.7% | 1.03% | +0.15 |
| VTI VG Morningstar TS MKT ETF-US | Add +6.3% | 3.16% | +0.13 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +23.2% | 0.49% | +0.10 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Add +37.7% | 0.61% | +0.10 |
| SGVT Schwab Govt Money Market ETF | New | 0.08% | +0.08 |
| IVE iShares S&P 500 Value ETF | New | 0.08% | +0.08 |
| NFLX Netflix Inc. | Add +3.9% | 0.37% | +0.08 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +25.9% | 0.17% | +0.06 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +4.8% | 0.70% | +0.06 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +73.0% | 0.17% | +0.06 |
| MTUM iShares MSCI USA Momentum Fa | Add +6.4% | 0.54% | +0.06 |
| IONQ Ionq Inc. | Add +16.7% | 0.11% | +0.06 |
| NKE Nike Inc. Class B | Add +17.3% | 0.31% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +2.5% | 1.42% | +0.05 |
| NRG NRG Energy Inc. | New | 0.05% | +0.05 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | New | 0.05% | +0.05 |
| TSLA Tesla Inc. | Add +2.6% | 2.59% | +0.05 |
| VCRB Vanguard Core Bond ETF | New | 0.05% | +0.05 |
| VOOG Vanguard S&P 500 Growth ETF | Add +4.0% | 0.53% | +0.05 |
| VOO Vanguard S&P 500 ETF | Add +4.8% | 1.78% | +0.05 |
| IEMG iShares Core MSCI Emerging | Add +31.5% | 0.19% | +0.04 |
| ESGV Vanguard ESG US Stock ETF | New | 0.04% | +0.04 |
| WMT Walmart Inc. | Add +20.7% | 0.26% | +0.04 |
| JPST JPMorgan Ultra-Short Income | New | 0.04% | +0.04 |
| HWM Howmet Aerospace Inc. | New | 0.04% | +0.04 |
| ORCL Oracle Corp. | Add +1.8% | 0.13% | +0.04 |
| BA The Boeing Co. | Add +3.1% | 0.50% | +0.03 |
| CGGR Cap Group Growth Equity | Add +45.9% | 0.09% | +0.03 |
| VRSN Verisign Inc. | New | 0.03% | +0.03 |
| TROW T Rowe Price Group Inc. | New | 0.03% | +0.03 |
| VEU Vanguard Ftse All-World Ex-U | Add +34.7% | 0.12% | +0.03 |
| TCAF T Rowe PRC Cap Appreciation | Add +7.2% | 0.77% | +0.03 |
| IESC Ies Holdings Inc. | New | 0.03% | +0.03 |
| BAI Ishrs AI in and Tech Act ETF | New | 0.03% | +0.03 |
| TGRT T. Rowe Price Growth ETF | New | 0.03% | +0.03 |
| OUNZ Vaneck Merk Gold ETF | New | 0.03% | +0.03 |
| GBTC Grayscale Bitcoin Trust ETF | Add +1.1% | 0.45% | +0.03 |
| TXN Texas Instruments Inc. | New | 0.03% | +0.03 |
Notes & Other Activity Q1 2025 → Q2 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +5.3% | 2,767 | $3.1M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Add +11.2% | 28,450 | $913K |
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 |