Keystone Financial Group
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 6, 2026), Keystone Financial Group reported 452 stock positions worth $1.3 billion. Its top holding was Apple (AAPL) at 6.9% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 6.0%) and Palantir Technologies Class A (PLTR, 3.3%). Compared with Q3 2025, it opened 64 new positions, sold out of 34, added to 211 and reduced 152. The biggest buy was Victoryshares Free Cash Flow (VFLO, shares +31%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −28%).
- Most Recent 13F
- Q2 2026
- Location
- LEXINGTON, KY
- CIK
- 0001729299
- Portfolio Value
- $1.3B (Q4 2025)
- SEC Filing
- 0001729299-26-000001 ↗ filed Feb 6, 2026
Holdings Value
Holdings 452 stocks · $1.3B
| AAPL Apple Inc. | 6.89% | 341,627 | $92.9M | Reduce -6.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 5.96% | 117,643 | $80.2M | Reduce -28.1% |
| PLTR Palantir Technologies Inc. Class A | 3.28% | 248,827 | $44.2M | Reduce -4.1% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 3.12% | 523,900 | $42.0M | Add +1.4% |
| VFLO Victoryshares Free Cash Flow | 3.06% | 1,047,375 | $41.2M | Add +31.2% |
| TSLA Tesla Inc. | 3.02% | 90,537 | $40.7M | Reduce -1.4% |
| VTI VG Morningstar TS MKT ETF-US | 2.98% | 119,761 | $40.2M | Reduce -3.1% |
| NVDA Nvidia Corp. | 2.98% | 215,201 | $40.1M | Reduce -2.0% |
| SPYG SS SPDR P S&P 500 Growth ETF | 2.77% | 349,716 | $37.3M | Add +1.3% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 2.48% | 550,402 | $33.5M | Add +31.5% |
| MSFT Microsoft Corp. | 1.74% | 48,359 | $23.4M | Reduce -11.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.70% | 45,603 | $22.9M | Add +9.7% |
| VOO Vanguard S&P 500 ETF | 1.68% | 36,020 | $22.6M | Add +3.8% |
| AMZN Amazon.com Inc. | 1.65% | 96,111 | $22.2M | Reduce -4.5% |
| META Meta Platforms Inc. Class A | 1.61% | 32,891 | $21.7M | Reduce -6.8% |
| JPM JPMorgan Chase & Co. | 1.41% | 58,950 | $19.0M | Reduce -6.4% |
| AMD Advanced Micro Devices | 1.32% | 82,849 | $17.7M | Reduce -6.6% |
| STX Seagate Technology Holdings | 1.28% | 62,817 | $17.3M | Reduce -7.3% |
| XLG Invesco S&P 500 Top 50 ETF | 1.26% | 287,094 | $17.0M | Add +4.2% |
| IEMG iShares Core MSCI Emerging | 1.22% | 245,277 | $16.5M | Add +112.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.97% | 21,221 | $13.0M | Reduce -1.3% |
| BUFR FT Vest Lad Buffervetf-Usd I | 0.96% | 379,123 | $13.0M | Add +226.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.95% | 17 | $12.8M | Reduce -5.6% |
| GOOG Alphabet Inc. Class C | 0.91% | 39,227 | $12.3M | Reduce -5.7% |
| BND Vanguard Total Bond Market | 0.91% | 164,617 | $12.2M | Add +0.6% |
| BAI Ishrs AI in and Tech Act ETF | 0.89% | 359,189 | $12.0M | Add +34.0% |
| JQUA JPMorgan US Quality Factor | 0.88% | 187,038 | $11.8M | Reduce -38.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.86% | 60,538 | $11.6M | Reduce -1.9% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.76% | 21,021 | $10.3M | Add +15.3% |
| JNJ Johnson & Johnson | 0.74% | 48,029 | $9.9M | Reduce -6.6% |
| TCAF T Rowe PRC Cap Appreciation | 0.72% | 252,587 | $9.7M | Add +2.5% |
| MTUM iShares MSCI USA Momentum Fa | 0.70% | 37,837 | $9.5M | Add +39.8% |
| GOOGL Alphabet Inc. Class A | 0.68% | 29,416 | $9.2M | Reduce -6.7% |
| IVV iShares Core S&P 500 ETF | 0.63% | 12,424 | $8.5M | Reduce -3.5% |
| THRO iShares U.S. Thematic Rotati | 0.62% | 218,127 | $8.4M | Add +4.0% |
| IAU iShares Gold Trust | 0.61% | 101,644 | $8.3M | Add +19.3% |
| VOOG Vanguard S&P 500 Growth ETF | 0.55% | 16,629 | $7.4M | Add +10.6% |
| VIG Vanguard Dividend Apprec ETF | 0.54% | 32,804 | $7.2M | Reduce -3.2% |
| BIDD iShares International Divide | 0.53% | 246,942 | $7.1M | Reduce -4.6% |
| XOM Exxon Mobil Corp. | 0.47% | 52,608 | $6.3M | Add +4.0% |
| MCD McDonald's Corp. | 0.47% | 20,599 | $6.3M | Reduce -7.8% |
| TOTL SS Doubleline TR Tact ETF | 0.46% | 155,362 | $6.3M | Add +2205.8% |
| LOW Lowe's Cos Inc. | 0.46% | 25,682 | $6.2M | Reduce -7.3% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.45% | 231,272 | $6.1M | Reduce -16.8% |
| VOOV Vanguard S&P 500 Value ETF | 0.45% | 29,563 | $6.1M | Add +25.4% |
| T AT&T Inc. | 0.44% | 239,877 | $6.0M | Reduce -4.6% |
| BA The Boeing Co. | 0.43% | 26,858 | $5.8M | Reduce -8.7% |
| XLF SS Financial Select Sector | 0.42% | 104,135 | $5.7M | Add +23.1% |
| MLN Vaneck Long Muni ETF | 0.41% | 312,605 | $5.5M | Reduce -16.7% |
| QUAL iShares MSCI USA Quality Fac | 0.40% | 27,352 | $5.4M | Add +34.9% |
| CFO Victoryshares US 500 Enhance | 0.40% | 73,478 | $5.4M | Reduce -8.0% |
| ITOT iShares Core S&P Total U.S. | 0.40% | 36,460 | $5.4M | Reduce -2.2% |
| IVE iShares S&P 500 Value ETF | 0.40% | 25,439 | $5.4M | Add +480.9% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.40% | 20,869 | $5.4M | Add +3.6% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.39% | 18,118 | $5.3M | Add +2.8% |
| PG The Procter & Gamble Co. | 0.39% | 36,474 | $5.2M | Reduce -9.6% |
| SHLD Global X Defense Tech ETF | 0.39% | 80,283 | $5.2M | Add +8.3% |
| XMPT Vaneck Cef Muni Income ETF | 0.36% | 220,450 | $4.8M | Reduce -18.8% |
| ABT Abbott Laboratories | 0.35% | 37,945 | $4.8M | Reduce -8.1% |
| HYMB SS SPDR N Ice HY Muni ETF | 0.34% | 185,505 | $4.6M | Reduce -22.1% |
| ABBV Abbvie Inc. | 0.32% | 18,900 | $4.3M | Reduce -3.9% |
| WMT Walmart Inc. | 0.31% | 37,204 | $4.1M | Reduce -6.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.29% | 34,840 | $4.0M | Reduce -1.5% |
| CVX Chevron Corp. | 0.29% | 25,894 | $3.9M | Add +3.4% |
| MDY State Street SPDR S&P Midcap | 0.29% | 6,455 | $3.9M | Add +63.7% |
| GBTC Grayscale Bitcoin Trust ETF | 0.29% | 56,312 | $3.8M | Add +0.1% |
| LLY Eli Lilly & Co. | 0.28% | 3,573 | $3.8M | Reduce -4.5% |
| RSP Invesco S&P 500 Equal Weight | 0.28% | 19,744 | $3.8M | Add +4.8% |
| IAGG iShares Intl Aggregate Bond | 0.27% | 73,952 | $3.7M | Add +2.8% |
| USMV iShares MSCI USA Min Vol Fac | 0.27% | 38,829 | $3.7M | Add +2.3% |
| VONE Vanguard Russell 1000 | 0.27% | 11,757 | $3.6M | Add +26.3% |
| SPMB SS SPDR P Mort Back Bond ETF | 0.27% | 160,385 | $3.6M | Add +4.1% |
| HD Home Depot Inc. | 0.25% | 9,834 | $3.4M | Reduce -1.1% |
| DGRO iShares Core Dividend Growth | 0.25% | 48,546 | $3.4M | Reduce -4.4% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 0.24% | 28,611 | $3.2M | Reduce -0.3% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.23% | 54,460 | $3.1M | Reduce -6.0% |
| VIOO Vanguard S&P Small-Cap 600 E | 0.22% | 26,948 | $3.0M | Reduce -0.1% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.22% | 6,209 | $3.0M | Add +9.7% |
| XLK SS Technology Select Sector | 0.22% | 20,648 | $3.0M | Add +53.2% |
| CMG Chipotle Mexican Grill Inc. | 0.22% | 78,351 | $2.9M | Reduce -12.9% |
| LNC Lincoln National Corp. | 0.21% | 64,525 | $2.9M | Reduce -8.0% |
| IJR iShares Core S&P Small-Cap E | 0.21% | 23,560 | $2.8M | Reduce -5.3% |
| PM Philip Morris International | 0.21% | 17,514 | $2.8M | Reduce -9.6% |
| NFLX Netflix Inc. | 0.21% | 29,685 | $2.8M | Add +1.8% |
| RDVY First Trust Rising Dividend | 0.21% | 40,030 | $2.8M | Add +3.1% |
| AVGO Broadcom Inc. | 0.20% | 7,967 | $2.8M | Add +3.7% |
| BINC iShares Flex I A ETF-Usd Inc. | 0.20% | 52,036 | $2.7M | Add +6.7% |
| NKE Nike Inc. Class B | 0.20% | 42,627 | $2.7M | Reduce -20.3% |
| PEP Pepsico Inc. | 0.20% | 18,749 | $2.7M | Reduce -1.1% |
| V Visa Inc. Class A | 0.19% | 7,426 | $2.6M | Add +1.7% |
| CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET | 0.18% | 61,361 | $2.5M | Add +10.2% |
| MRK Merck & Co. Inc. | 0.18% | 22,753 | $2.4M | Reduce -7.7% |
| IXN iShares Global Tech ETF | 0.18% | 22,795 | $2.4M | Reduce -1.8% |
| KO The Coca-Cola Co. | 0.18% | 34,129 | $2.4M | Reduce -4.2% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.17% | 4,987 | $2.3M | Add +4.3% |
| VYM Vanguard High DVD Yield ETF | 0.17% | 16,010 | $2.3M | Reduce -0.3% |
| IEFA iShares Core MSCI Eafe ETF | 0.17% | 25,646 | $2.3M | Reduce -2.3% |
| CGGR Cap Group Growth Equity | 0.17% | 51,430 | $2.3M | Add +7.4% |
| SLV iShares Silver Trust | 0.17% | 34,788 | $2.2M | Add +115.2% |
| XLE SS Energy Select Sector | 0.16% | 49,317 | $2.2M | Add +1.0% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $4.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 2,627 | $3.2M | Add +94.6% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 28,750 | $1.7M | Reduce -1.6% |
Total filed on the 13F, all lines: $1.4B.
Portfolio Sells Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -28.1% | 5.96% | −2.44 |
| JQUA JPMorgan US Quality Factor | Reduce -38.8% | 0.88% | −0.60 |
| MSFT Microsoft Corp. | Reduce -11.8% | 1.74% | −0.43 |
| PLTR Palantir Technologies Inc. Class A | Reduce -4.1% | 3.28% | −0.34 |
| AAPL Apple Inc. | Reduce -6.0% | 6.89% | −0.30 |
| META Meta Platforms Inc. Class A | Reduce -6.8% | 1.61% | −0.17 |
| NVDA Nvidia Corp. | Reduce -2.0% | 2.98% | −0.16 |
| AMZN Amazon.com Inc. | Reduce -4.5% | 1.65% | −0.14 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.1% | 2.98% | −0.13 |
| AMD Advanced Micro Devices | Reduce -6.6% | 1.32% | −0.12 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Reduce -16.8% | 0.45% | −0.12 |
| JPM JPMorgan Chase & Co. | Reduce -6.4% | 1.41% | −0.12 |
| HYMB SS SPDR N Ice HY Muni ETF | Reduce -22.1% | 0.34% | −0.11 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -16.1% | 0.04% | −0.11 |
| STX Seagate Technology Holdings | Reduce -7.3% | 1.28% | −0.10 |
| XMPT Vaneck Cef Muni Income ETF | Reduce -18.8% | 0.36% | −0.10 |
| MLN Vaneck Long Muni ETF | Reduce -16.7% | 0.41% | −0.10 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -5.6% | 0.95% | −0.09 |
| PG The Procter & Gamble Co. | Reduce -9.6% | 0.39% | −0.08 |
| NKE Nike Inc. Class B | Reduce -20.3% | 0.20% | −0.07 |
| T AT&T Inc. | Reduce -4.6% | 0.44% | −0.07 |
| ABT Abbott Laboratories | Reduce -8.1% | 0.35% | −0.06 |
| MCD McDonald's Corp. | Reduce -7.8% | 0.47% | −0.06 |
| GRAB Grab Holdings Ltd. Class A | Reduce -84.7% | 0.01% | −0.06 |
| RH RH | Reduce -45.4% | 0.07% | −0.06 |
| NEM Newmont Corp. | Sold out | 0.00% | −0.05 |
| LOW Lowe's Cos Inc. | Reduce -7.3% | 0.46% | −0.05 |
| GEV GE Vernova Inc. | Reduce -66.3% | 0.03% | −0.05 |
| APH Amphenol Corp. Class A | Sold out | 0.00% | −0.05 |
| CFO Victoryshares US 500 Enhance | Reduce -8.0% | 0.40% | −0.05 |
| HD Home Depot Inc. | Reduce -1.1% | 0.25% | −0.05 |
| PFE Pfizer Inc. | Reduce -19.4% | 0.13% | −0.04 |
| TCAL T Rowe Pre CPT Apr PR in ETF | Sold out | 0.00% | −0.04 |
| IDXX Idexx Laboratories Inc. | Sold out | 0.00% | −0.04 |
| VGT Vanguard Info Tech ETF | Reduce -19.0% | 0.13% | −0.03 |
| K Kellanova | Sold out | 0.00% | −0.03 |
| PM Philip Morris International | Reduce -9.6% | 0.21% | −0.03 |
| IVV iShares Core S&P 500 ETF | Reduce -3.5% | 0.63% | −0.03 |
| ABBV Abbvie Inc. | Reduce -3.9% | 0.32% | −0.03 |
| PANW Palo Alto Networks Inc. | Reduce -4.0% | 0.13% | −0.03 |
| ET Energy Transfer LP | Reduce -17.6% | 0.09% | −0.03 |
| BIDD iShares International Divide | Reduce -4.6% | 0.53% | −0.03 |
| VIG Vanguard Dividend Apprec ETF | Reduce -3.2% | 0.54% | −0.03 |
| MPC Marathon Petroleum Corp. | Reduce -0.5% | 0.11% | −0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -1.9% | 0.86% | −0.02 |
| BSCP Invesco Bulletshares 2025 CB | Sold out | 0.00% | −0.02 |
| QLTA iShares Aaa - A Rated Corpor | Reduce -29.9% | 0.05% | −0.02 |
| IP International Paper Co. | Reduce -3.1% | 0.09% | −0.02 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.3% | 0.97% | −0.02 |
| EMXC iShares MSCI Emr MRK Ex Chna | Sold out | 0.00% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| VFLO Victoryshares Free Cash Flow | Add +31.2% | 3.06% | +0.77 |
| BUFR FT Vest Lad Buffervetf-Usd I | Add +226.6% | 0.96% | +0.67 |
| IEMG iShares Core MSCI Emerging | Add +112.0% | 1.22% | +0.64 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Add +31.5% | 2.48% | +0.59 |
| TOTL SS Doubleline TR Tact ETF | Add +2205.8% | 0.46% | +0.44 |
| IVE iShares S&P 500 Value ETF | Add +480.9% | 0.40% | +0.33 |
| BAI Ishrs AI in and Tech Act ETF | Add +34.0% | 0.89% | +0.19 |
| MTUM iShares MSCI USA Momentum Fa | Add +39.8% | 0.70% | +0.17 |
| CGDV Cap Group Dividend Value | New | 0.14% | +0.14 |
| IAU iShares Gold Trust | Add +19.3% | 0.61% | +0.14 |
| ITA iShares U.S. Aerospace & Def | New | 0.12% | +0.12 |
| SLV iShares Silver Trust | Add +115.2% | 0.17% | +0.11 |
| MDY State Street SPDR S&P Midcap | Add +63.7% | 0.29% | +0.11 |
| QUAL iShares MSCI USA Quality Fac | Add +34.9% | 0.40% | +0.10 |
| VCRB Vanguard Core Bond ETF | Add +276.2% | 0.14% | +0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +9.7% | 1.70% | +0.10 |
| BAC Bank of America Corp. | Add +563.3% | 0.11% | +0.09 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +15.3% | 0.76% | +0.09 |
| VOOV Vanguard S&P 500 Value ETF | Add +25.4% | 0.45% | +0.09 |
| CGBL Cap Group Core Balanced | New | 0.08% | +0.08 |
| MU Micron Technology Inc. | New | 0.08% | +0.08 |
| LRCX Lam Research Corp. | Add +82.6% | 0.14% | +0.08 |
| XLK SS Technology Select Sector | Add +53.2% | 0.22% | +0.08 |
| XLF SS Financial Select Sector | Add +23.1% | 0.42% | +0.07 |
| WBD Warner Bros Discovery Inc. | Add +236.9% | 0.10% | +0.07 |
| TER Teradyne Inc. | New | 0.07% | +0.07 |
| WDC Western Digital Corp. | New | 0.07% | +0.07 |
| GRID First TRST Nasd Class Edg Sgiif | New | 0.06% | +0.06 |
| FV First Trust DW Focus 5 Fund | New | 0.06% | +0.06 |
| SDVY First Trust Smid Cap Rising | New | 0.06% | +0.06 |
| FDL First Trust Morn DVD Lead Inc. | New | 0.06% | +0.06 |
| GLD SPDR Gold Shares | Add +45.0% | 0.15% | +0.05 |
| VONE Vanguard Russell 1000 | Add +26.3% | 0.27% | +0.05 |
| EMLP First Trust North American E | New | 0.05% | +0.05 |
| RTX RTX Corp. | New | 0.05% | +0.05 |
| XLG Invesco S&P 500 Top 50 ETF | Add +4.2% | 1.26% | +0.05 |
| CGMU Cap Group Municipal Income | New | 0.05% | +0.05 |
| VOOG Vanguard S&P 500 Growth ETF | Add +10.6% | 0.55% | +0.05 |
| TOST Toast Inc. Class A | New | 0.05% | +0.05 |
| VOO Vanguard S&P 500 ETF | Add +3.8% | 1.68% | +0.04 |
| JPST JPMorgan Ultra-Short Income | Add +63.1% | 0.12% | +0.04 |
| ZAP GX US Electrification ETF | New | 0.04% | +0.04 |
| LIN Linde PLC | New | 0.04% | +0.04 |
| XOM Exxon Mobil Corp. | Add +4.0% | 0.47% | +0.03 |
| CIBR First Trust Nasdaq Cybersecu | New | 0.03% | +0.03 |
| XLI SS Industrial Select Sector | Add +48.1% | 0.10% | +0.03 |
| FVC First Trust Dorsey Wright DY | New | 0.03% | +0.03 |
| FDN First Trust DJ Internet Ind | New | 0.03% | +0.03 |
| OUNZ Vaneck Merk Gold ETF | New | 0.03% | +0.03 |
| CGXU Cap Group Intl Focus | New | 0.03% | +0.03 |
Notes & Other Activity Q3 2025 → Q4 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +94.6% | 2,627 | $3.2M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Reduce -1.6% | 28,750 | $1.7M |
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 |