Keystone Financial Group

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 13, 2026), Keystone Financial Group reported 522 stock positions worth $1.5 billion. Its top holding was Apple (AAPL) at 6.0% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 5.4%) and Ste STR SPDR PT S&P 500 ETF (SPYM, 3.8%). Compared with Q4 2025, it opened 81 new positions, sold out of 11, added to 285 and reduced 116. The biggest buy was Ste STR SPDR PT S&P 500 ETF (SPYM, shares +36%) and the biggest sale Invesco S&P 500 Top 50 ETF (XLG, shares −96%).

Most Recent 13F
Q2 2026
Location
LEXINGTON, KY
CIK
0001729299
Portfolio Value
$1.5B (Q1 2026)
SEC Filing
0001729299-26-000003 ↗ filed May 13, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $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 $1.5B Q1 2026 Q2 2026: $1.7B Q2 2026

Holdings 522 stocks · $1.5B
AAPL Apple Inc. 6.04% 341,115 $87.9M Reduce -0.1%
SPY SS SPDR S&P 500 ETF Trust-US 5.40% 115,948 $78.6M Reduce -1.4%
SPYM Ste STR SPDR PT S&P 500 ETF 3.75% 714,132 $54.7M Add +36.3%
VFLO Victoryshares Free Cash Flow 2.93% 1,079,697 $42.6M Add +3.1%
STX Seagate Technology Holdings 2.76% 62,749 $40.2M Reduce -0.1%
NVDA Nvidia Corp. 2.69% 216,175 $39.2M Add +0.5%
VTI VG Morningstar TS MKT ETF-US 2.69% 121,278 $39.1M Add +1.3%
PLTR Palantir Technologies Inc. Class A 2.67% 266,312 $38.9M Add +7.0%
SPYG SS SPDR P S&P 500 Growth ETF 2.57% 382,639 $37.5M Add +9.4%
TSLA Tesla Inc. 2.44% 94,007 $35.5M Add +3.8%
DYNF Ishrs US E F R A ETF-Usd Inc. 2.17% 542,488 $31.6M Reduce -1.4%
AMZN Amazon.com Inc. 1.63% 98,937 $23.7M Add +2.9%
AMD Advanced Micro Devices 1.61% 80,199 $23.5M Reduce -3.2%
BRK.B Berkshire Hathaway Inc. Class B 1.54% 46,784 $22.4M Add +2.6%
VOO Vanguard S&P 500 ETF 1.50% 36,033 $21.9M Add +0.0%
META Meta Platforms Inc. Class A 1.41% 34,282 $20.5M Add +4.2%
IEMG iShares Core MSCI Emerging 1.37% 286,188 $20.0M Add +16.7%
MSFT Microsoft Corp. 1.29% 49,683 $18.7M Add +2.7%
JPM JPMorgan Chase & Co. 1.28% 60,520 $18.6M Add +2.7%
QQQ Invesco QQQ Trust Series 1 0.99% 25,017 $14.5M Add +17.9%
BAI Ishrs AI in and Tech Act ETF 0.95% 418,803 $13.8M Add +16.6%
BUFR FT Vest Lad Buffervetf-Usd I 0.93% 401,470 $13.6M Add +5.9%
BND Vanguard Total Bond Market 0.86% 169,636 $12.5M Add +3.0%
BRK.A Berkshire Hathaway Inc. Class A 0.83% 17 $12.2M No change
JQUA JPMorgan US Quality Factor 0.83% 196,293 $12.0M Add +5.0%
VTV Vanguard Mrngstr Val ETF-Aui 0.80% 59,589 $11.7M Reduce -1.6%
JNJ Johnson & Johnson 0.80% 48,854 $11.6M Add +1.7%
GOOG Alphabet Inc. Class C 0.79% 37,786 $11.5M Reduce -3.7%
IVV iShares Core S&P 500 ETF 0.70% 15,378 $10.1M Add +23.8%
MTUM iShares MSCI USA Momentum Fa 0.69% 41,581 $10.1M Add +9.9%
GOOGL Alphabet Inc. Class A 0.67% 31,389 $9.8M Add +6.7%
VUG Vanguard Mrngstar GR ETF-Sui 0.64% 21,468 $9.4M Add +2.1%
TCAF T Rowe PRC Cap Appreciation 0.62% 254,458 $9.1M Add +0.7%
XOM Exxon Mobil Corp. 0.62% 53,205 $9.0M Add +1.1%
SPTL SS SPDR PF LNG TRM TSY E-Usd 0.60% 331,563 $8.7M Add +43.4%
THRO iShares U.S. Thematic Rotati 0.59% 237,334 $8.6M Add +8.8%
BIDD iShares International Divide 0.56% 285,103 $8.1M Add +15.4%
SHLD Global X Defense Tech ETF 0.51% 105,426 $7.5M Add +31.3%
VIG Vanguard Dividend Apprec ETF 0.49% 32,819 $7.1M Add +0.1%
VOOG Vanguard S&P 500 Growth ETF 0.47% 16,753 $6.8M Add +0.8%
T AT&T Inc. 0.46% 248,670 $6.6M Add +3.7%
MLN Vaneck Long Muni ETF 0.45% 375,301 $6.6M Add +20.1%
MCD McDonald's Corp. 0.45% 21,914 $6.5M Add +6.4%
HEFA Isha Curr Hedged MSCI Eafe 0.44% 149,704 $6.4M Add +2326.3%
BA The Boeing Co. 0.43% 28,269 $6.3M Add +5.3%
LOW Lowe's Cos Inc. 0.43% 26,264 $6.2M Add +2.3%
VOOV Vanguard S&P 500 Value ETF 0.42% 29,976 $6.1M Add +1.4%
CVX Chevron Corp. 0.42% 29,310 $6.1M Add +13.2%
XMPT Vaneck Cef Muni Income ETF 0.40% 270,074 $5.9M Add +22.5%
IVE iShares S&P 500 Value ETF 0.40% 27,706 $5.9M Add +8.9%
HYMB SS SPDR N Ice HY Muni ETF 0.40% 229,586 $5.8M Add +23.8%
TOTL SS Doubleline TR Tact ETF 0.40% 144,755 $5.8M Reduce -6.8%
QUAL iShares MSCI USA Quality Fac 0.39% 29,432 $5.7M Add +7.6%
VB Vanguard Most SM-Cap ETF-Usd 0.38% 21,106 $5.5M Add +1.1%
WMFFX Amer FND Wash Mut Inv-F2 filed as AMERICAN FUNDS WASHINGTON MUTUAL F2 0.38% 81,256 $5.5M New
XLF SS Financial Select Sector 0.37% 108,175 $5.4M Add +3.9%
ITOT iShares Core S&P Total U.S. 0.36% 36,306 $5.2M Reduce -0.4%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.36% 18,133 $5.2M Add +0.1%
CFO Victoryshares US 500 Enhance 0.35% 69,707 $5.2M Reduce -5.1%
PG The Procter & Gamble Co. 0.35% 35,599 $5.2M Reduce -2.4%
GFFFX Amer FND GRW FD of Am-F2 0.34% 60,732 $5.0M New
IAU iShares Gold Trust 0.32% 52,609 $4.6M Reduce -48.2%
WMT Walmart Inc. 0.32% 37,105 $4.6M Reduce -0.3%
IAGG iShares Intl Aggregate Bond 0.28% 82,822 $4.1M Add +12.0%
ABBV Abbvie Inc. 0.28% 18,934 $4.1M Add +0.2%
RSP Invesco S&P 500 Equal Weight 0.28% 21,169 $4.1M Add +7.2%
MDY State Street SPDR S&P Midcap 0.28% 6,364 $4.0M Reduce -1.4%
AMEFX Amer FNDS Inc. of Amer-F2 0.27% 145,462 $4.0M New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.27% 38,553 $4.0M Add +10.7%
LLY Eli Lilly & Co. 0.27% 4,193 $3.9M Add +17.4%
SPMB SS SPDR P Mort Back Bond ETF 0.26% 171,707 $3.8M Add +7.1%
WGIFX Af Cap WLRD GR & Inc.-F2 0.26% 48,436 $3.8M New
USMV iShares MSCI USA Min Vol Fac 0.26% 40,139 $3.7M Add +3.4%
DGRO iShares Core Dividend Growth 0.25% 51,127 $3.6M Add +5.3%
VONE Vanguard Russell 1000 0.24% 11,861 $3.5M Add +0.9%
ABT Abbott Laboratories 0.24% 36,886 $3.5M Reduce -2.8%
GBTC Grayscale Bitcoin Trust ETF 0.23% 57,942 $3.4M Add +2.9%
HD Home Depot Inc. 0.23% 10,028 $3.3M Add +2.0%
IVOO Vanguard S&P Mid-Cap 400 ETF 0.22% 28,417 $3.2M Reduce -0.7%
BINC iShares Flex I A ETF-Usd Inc. 0.21% 60,229 $3.1M Add +15.7%
NFLX Netflix Inc. 0.21% 32,752 $3.1M Add +10.3%
IJR iShares Core S&P Small-Cap E 0.21% 23,879 $3.1M Add +1.4%
AMBFX American Balanced Fund-F2 0.21% 77,732 $3.1M New
VIOO Vanguard S&P Small-Cap 600 E 0.21% 26,738 $3.1M Reduce -0.8%
SPYV SS SPDR P S&P 500 Value ETF 0.21% 53,868 $3.0M Reduce -1.1%
PEP Pepsico Inc. 0.21% 19,562 $3.0M Add +4.3%
CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET 0.21% 78,045 $3.0M Add +27.2%
XLE SS Energy Select Sector 0.21% 48,850 $3.0M Reduce -0.9%
PM Philip Morris International 0.20% 17,973 $3.0M Add +2.6%
CAIFX Amer FNDS Cap Inc. BLDR-F2 0.20% 36,438 $3.0M New
CMG Chipotle Mexican Grill Inc. 0.20% 87,608 $2.9M Add +11.8%
PZA Invesco National Amt-Free Mu 0.20% 126,574 $2.9M Add +378.8%
RDVY First Trust Rising Dividend 0.19% 41,404 $2.8M Add +3.4%
MRK Merck & Co. Inc. 0.19% 23,222 $2.7M Add +2.1%
DIA SS SPDR Dow Jones Indus Avg filed as STATE STR SPDR DOW JONES IND 0.19% 5,850 $2.7M Reduce -5.8%
CGGR Cap Group Growth Equity 0.18% 66,088 $2.7M Add +28.5%
TSM Taiwan Semiconductor-SP ADR 0.18% 7,322 $2.6M Add +28.9%
V Visa Inc. Class A 0.18% 8,618 $2.6M Add +16.1%
KO The Coca-Cola Co. 0.18% 34,056 $2.6M Reduce -0.2%
VYM Vanguard High DVD Yield ETF 0.18% 17,451 $2.6M Add +9.0%

Show all 522 holdings

Other holdings (2): bonds, preferreds, convertibles and warrants · $5.0M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 2,627$3.1MNo change
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 26,940$1.9MReduce -6.3%

Total filed on the 13F, all lines: $1.5B.

Portfolio Sells Q4 2025 → Q1 2026
XLG Invesco S&P 500 Top 50 ETF Reduce -95.6% 0.05% −1.22
AAPL Apple Inc. Reduce -0.1% 6.04% −0.86
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.4% 5.40% −0.56
DYNF Ishrs US E F R A ETF-Usd Inc. Reduce -1.4% 2.17% −0.32
IAU iShares Gold Trust Reduce -48.2% 0.32% −0.29
GOOG Alphabet Inc. Class C Reduce -3.7% 0.79% −0.12
ABT Abbott Laboratories Reduce -2.8% 0.24% −0.11
WBD Warner Bros Discovery Inc. Reduce -68.5% 0.03% −0.07
TOTL SS Doubleline TR Tact ETF Reduce -6.8% 0.40% −0.07
XLI SS Industrial Select Sector Reduce -66.5% 0.03% −0.07
HIMU iShares High Yild Muni A ETF Reduce -44.4% 0.06% −0.06
VTV Vanguard Mrngstr Val ETF-Aui Reduce -1.6% 0.80% −0.05
CFO Victoryshares US 500 Enhance Reduce -5.1% 0.35% −0.05
XLK SS Technology Select Sector Reduce -6.9% 0.18% −0.05
ITOT iShares Core S&P Total U.S. Reduce -0.4% 0.36% −0.04
CSX CSX Corp. Reduce -73.1% 0.02% −0.04
DIA SS SPDR Dow Jones Indus Avg Reduce -5.8% 0.19% −0.04
PG The Procter & Gamble Co. Reduce -2.4% 0.35% −0.03
B Barrick Mining Corp. Reduce -16.3% 0.09% −0.03
DKNG Draftkings Inc. Class A Reduce -2.7% 0.05% −0.03
FYX First Trust Small Cap Core A Reduce -20.5% 0.09% −0.03
HYGW iShares HY Corp. BD Buywr ETF Sold out 0.00% −0.03
QCOM Qualcomm Inc. Reduce -1.2% 0.06% −0.03
FIXD First Trust Smith Opportunis Sold out 0.00% −0.03
VICTORY PORTFOLIOS II Sold out 0.00% −0.02
SECT Main Sector Rotation ETF Reduce -50.4% 0.02% −0.02
IXN iShares Global Tech ETF Reduce -3.3% 0.15% −0.02
CFA Victoryshares US 500 Volatil Reduce -9.5% 0.12% −0.02
KKR KKR & Co. Inc. Sold out 0.00% −0.02
RGTI Rigetti Computing Inc. Reduce -1.1% 0.03% −0.02
SPYV SS SPDR P S&P 500 Value ETF Reduce -1.1% 0.21% −0.02
FMB First Trust Managed Municipa Reduce -5.6% 0.12% −0.02
AXON Axon Enterprise Inc. Sold out 0.00% −0.02
OLLI Ollie's Bargain Outlet Holdi Reduce -0.6% 0.05% −0.02
TGT Target Corp. Sold out 0.00% −0.02
CRM Salesforce Inc. Sold out 0.00% −0.02
CHDN Churchill Downs Inc. Sold out 0.00% −0.02
TEVA Teva Pharmaceutical-SP ADR Reduce -11.2% 0.06% −0.02
ELV Elevance Health Inc. Reduce -15.6% 0.03% −0.02
SLV iShares Silver Trust Reduce -7.3% 0.15% −0.02
XME SS SPDR S&P Metals Mining Sold out 0.00% −0.02
SMCI Super Micro Computer Inc. Sold out 0.00% −0.01
VEA Vanguard Ftse Developed ETF Reduce -12.0% 0.08% −0.01
XNIEX Virtus Equity & Convertible Reduce -3.9% 0.07% −0.01
TGRT T. Rowe Price Growth ETF Reduce -29.5% 0.02% −0.01
IP International Paper Co. Reduce -0.2% 0.08% −0.01
VXF Vanguard Extended Market ETF Reduce -45.3% 0.02% −0.01
IVOO Vanguard S&P Mid-Cap 400 ETF Reduce -0.7% 0.22% −0.01
VONG Vanguard Russell 1000 Growth Reduce -0.6% 0.06% −0.01
TMFC Motley Fool 100 Index ETF Reduce -8.0% 0.04% −0.01

Portfolio Buys Q4 2025 → Q1 2026
SPYM Ste STR SPDR PT S&P 500 ETF Add +36.3% 3.75% +0.63
HEFA Isha Curr Hedged MSCI Eafe Add +2326.3% 0.44% +0.42
WMFFX Amer FND Wash Mut Inv-F2 New 0.38% +0.38
GFFFX Amer FND GRW FD of Am-F2 New 0.34% +0.34
AMEFX Amer FNDS Inc. of Amer-F2 New 0.27% +0.27
WGIFX Af Cap WLRD GR & Inc.-F2 New 0.26% +0.26
AMBFX American Balanced Fund-F2 New 0.21% +0.21
CAIFX Amer FNDS Cap Inc. BLDR-F2 New 0.20% +0.20
ICAFX Amer FND Inv Co. of Am-F2 New 0.17% +0.17
AVDE Avantis International Equity New 0.16% +0.16
SGUXX Schwab Govt MNY FND-Ult New 0.16% +0.16
PZA Invesco National Amt-Free Mu Add +378.8% 0.20% +0.15
IJS iShares S&P Small-Cap 600 Va New 0.15% +0.15
XOM Exxon Mobil Corp. Add +1.1% 0.62% +0.15
IEMG iShares Core MSCI Emerging Add +16.7% 1.37% +0.15
IWM iShares Russell 2000 ETF Add +1062.8% 0.16% +0.15
EEM iShares MSCI Emerging Market New 0.15% +0.15
SPTL SS SPDR PF LNG TRM TSY E-Usd Add +43.4% 0.60% +0.14
IVW iShares S&P 500 Growth ETF Add +451.5% 0.16% +0.13
SHLD Global X Defense Tech ETF Add +31.3% 0.51% +0.13
CVX Chevron Corp. Add +13.2% 0.42% +0.12
GOVT iShares US Treasury Bond ETF Add +466.4% 0.15% +0.12
GLW Corning Inc. Add +144.6% 0.11% +0.08
CLX Clorox Company New 0.08% +0.08
NEFFX Amer FNDS New Economy-F2 New 0.07% +0.07
NFFFX Amer FNDS New World-F2 New 0.07% +0.07
ALB Albemarle Corp. Add +233.1% 0.09% +0.07
IWL iShares Russell Top 200 ETF New 0.07% +0.07
FTSM First Trust Enh Short Mat FD New 0.07% +0.07
IVV iShares Core S&P 500 ETF Add +23.8% 0.70% +0.06
XAR SS SPDR S&P Aerospace Def Add +315.4% 0.09% +0.06
JHMD John Hancock MF Dev Intl ETF New 0.06% +0.06
BAI Ishrs AI in and Tech Act ETF Add +16.6% 0.95% +0.06
JNJ Johnson & Johnson Add +1.7% 0.80% +0.06
ET Energy Transfer LP Add +50.7% 0.14% +0.05
MUB iShares National Muni Bond E Add +336.9% 0.07% +0.05
HYMB SS SPDR N Ice HY Muni ETF Add +23.8% 0.40% +0.05
TSM Taiwan Semiconductor-SP ADR Add +28.9% 0.18% +0.05
MLN Vaneck Long Muni ETF Add +20.1% 0.45% +0.05
MET DC ARPT-CONV CABS (DC METAPT 6.5 10/01/2041) New 0.05% +0.05
XMPT Vaneck Cef Muni Income ETF Add +22.5% 0.40% +0.04
CAT Caterpillar Inc. Add +21.4% 0.15% +0.04
MPC Marathon Petroleum Corp. Add +0.1% 0.15% +0.04
GS FINANCE CORP (GS 0 12/03/26 MTO5) New 0.04% +0.04
GRAND PARKWAY-CABS-B (TX GPTTRN 5.85 10/01/2047) New 0.04% +0.04
ZAP GX US Electrification ETF Add +100.0% 0.08% +0.04
SNVXX Schwab Govt MNY FND-Inv New 0.04% +0.04
NYC TRANSIT FIN-F-1 (NY NYCGEN 5 02/01/2043) New 0.04% +0.04
EFG iShares MSCI Eafe Growth ETF New 0.04% +0.04
PEBO Peoples Bancorp Inc. New 0.03% +0.03

Notes & Other Activity Q4 2025 → Q1 2026
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A Reduce -6.3% 26,940 $1.9M

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