Keystone Financial Services
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Keystone Financial Services reported 116 stock positions worth $294.0 million. Its top holding was Ishr CR Unvrse Usd BD ETF-Ui (IUSB) at 8.8% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 8.1%) and iShares MSCI USA Quality Fac (QUAL, 8.0%). Compared with Q1 2025, it opened 21 new positions, sold out of 5, added to 55 and reduced 34. The biggest buy was a new position in iShares U.S. Thematic Rotati (THRO) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −47%).
- Most Recent 13F
- Q2 2026
- Location
- LOVELAND, CO
- CIK
- 0001865158
- Portfolio Value
- $294.0M (Q2 2025)
- SEC Filing
- 0001865158-25-000004 ↗ filed Aug 7, 2025
Holdings Value
Holdings 116 stocks · $294.0M
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 8.83% | 561,310 | $25.9M | Add +0.9% |
| IVV iShares Core S&P 500 ETF | 8.11% | 38,382 | $23.8M | Reduce -47.4% |
| QUAL iShares MSCI USA Quality Fac | 8.01% | 128,858 | $23.6M | Add +4.8% |
| EFV iShares MSCI Eafe Value ETF | 7.44% | 344,429 | $21.9M | Add +68.7% |
| IVW iShares S&P 500 Growth ETF | 6.85% | 182,819 | $20.1M | Reduce -13.3% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 6.55% | 353,394 | $19.2M | Add +0.9% |
| IVE iShares S&P 500 Value ETF | 6.09% | 91,593 | $17.9M | Add +21.8% |
| IEMG iShares Core MSCI Emerging | 4.55% | 222,670 | $13.4M | Add +102.7% |
| EFG iShares MSCI Eafe Growth ETF | 3.06% | 80,359 | $9.0M | Add +1.9% |
| OEF iShares S&P 100 ETF | 2.97% | 28,729 | $8.7M | Add +50.6% |
| THRO iShares U.S. Thematic Rotati | 2.90% | 239,843 | $8.5M | New |
| IYW iShares Ustechnology ETF | 2.18% | 37,013 | $6.4M | Reduce -21.3% |
| TLH iShares 10-20 Year Treasury | 2.16% | 62,441 | $6.3M | Add +42.0% |
| MTUM iShares MSCI USA Momentum Fa | 2.10% | 25,693 | $6.2M | Reduce -3.3% |
| MBB iShares MBS ETF | 1.88% | 58,751 | $5.5M | Add +6.8% |
| IAGG iShares Intl Aggregate Bond | 1.53% | 87,997 | $4.5M | New |
| BINC iShares Flex I A ETF-Usd Inc. | 1.09% | 60,546 | $3.2M | Add +5.2% |
| BAI Ishrs AI in and Tech Act ETF | 1.07% | 108,786 | $3.1M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 1.00% | 6,039 | $2.9M | Reduce -16.5% |
| IAU iShares Gold Trust | 0.91% | 42,965 | $2.7M | Reduce -26.6% |
| JPM JPMorgan Chase & Co. | 0.85% | 8,655 | $2.5M | Add +1.5% |
| META Meta Platforms Inc. Class A | 0.80% | 3,187 | $2.4M | Reduce -11.3% |
| BKNG Booking Holdings Inc. | 0.70% | 355 | $2.1M | Add +6.0% |
| PM Philip Morris International | 0.69% | 11,140 | $2.0M | Add +1.7% |
| MSFT Microsoft Corp. | 0.65% | 3,849 | $1.9M | Add +12.5% |
| GOOG Alphabet Inc. Class C | 0.63% | 10,505 | $1.9M | Add +3.0% |
| SCHW Schwab (charles) Corp. | 0.60% | 19,277 | $1.8M | Add +4.5% |
| ORCL Oracle Corp. | 0.55% | 7,339 | $1.6M | Reduce -36.8% |
| WFC Wells Fargo & Co. | 0.49% | 17,800 | $1.4M | Add +2.4% |
| EMB iShares JP Morgan Usd Emergi | 0.43% | 13,780 | $1.3M | Add +5.0% |
| AVGO Broadcom Inc. | 0.42% | 4,488 | $1.2M | Add +58.9% |
| LCTU iShares U.S. Carbon Transiti | 0.40% | 17,624 | $1.2M | Reduce -6.3% |
| MUB iShares National Muni Bond E | 0.40% | 11,264 | $1.2M | Reduce -0.1% |
| MCK McKesson Corp. | 0.36% | 1,427 | $1.0M | Add +1.6% |
| V Visa Inc. Class A | 0.35% | 2,874 | $1.0M | Reduce -6.7% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.33% | 10,749 | $979K | Add +2.4% |
| CMCSA Comcast Corp. Class A | 0.32% | 26,182 | $934K | Add +2.3% |
| UL Unilever PLC | 0.32% | 15,213 | $931K | Add +19.9% |
| NVS Novartis AG-Sponsored ADR | 0.31% | 7,569 | $916K | Add +1.0% |
| ADI Analog Devices Inc. | 0.31% | 3,837 | $913K | Add +1.2% |
| EBAY eBay Inc. | 0.31% | 12,088 | $900K | Reduce -13.0% |
| AMAT Applied Materials Inc. | 0.30% | 4,859 | $890K | New |
| ESGU iShares ESG Aware MSCI USA | 0.30% | 6,503 | $880K | Reduce -6.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.29% | 2,795 | $850K | Reduce -1.1% |
| COP Conocophillips | 0.29% | 9,443 | $847K | Add +69.0% |
| KMX Carmax Inc. | 0.28% | 12,447 | $837K | Add +5.4% |
| AAPL Apple Inc. | 0.28% | 4,063 | $834K | Add +4.2% |
| GD General Dynamics Corp. | 0.28% | 2,848 | $831K | Add +17.6% |
| DFAC Dimensional US Core Equity 2 | 0.27% | 21,862 | $784K | Reduce -25.1% |
| DSI iShares ESG MSCI KLD 400 ETF | 0.26% | 6,523 | $758K | Reduce -8.3% |
| USXF iShares ESG Advance MSCI USA | 0.25% | 13,654 | $736K | Reduce -32.8% |
| MDT Medtronic PLC | 0.24% | 8,107 | $707K | Add +15.9% |
| SNY Sanofi-ADR | 0.23% | 14,269 | $689K | Add +3.5% |
| ELV Elevance Health Inc. | 0.23% | 1,739 | $676K | Add +17.6% |
| XOM Exxon Mobil Corp. | 0.22% | 6,099 | $657K | Add +0.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.22% | 1,033 | $638K | No change |
| BDX Becton Dickinson and Co. | 0.21% | 3,528 | $608K | Reduce -1.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.20% | 1,076 | $594K | Reduce -15.7% |
| TLT iShares 20+ Year Treasury BD | 0.20% | 6,671 | $589K | Reduce -26.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.19% | 11,833 | $560K | Add +3.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.19% | 2,344 | $555K | No change |
| STIP iShares 0-5 Year Tips Bond E | 0.18% | 5,256 | $541K | New |
| SUSC iShares ESG Aware Usd Corpor | 0.18% | 22,866 | $531K | Add +1.9% |
| VOO Vanguard S&P 500 ETF | 0.18% | 935 | $531K | Reduce -23.2% |
| GOOGL Alphabet Inc. Class A | 0.18% | 2,942 | $518K | Add +17.8% |
| XLK SS Technology Select Sector | 0.18% | 2,035 | $515K | No change |
| RTX RTX Corp. | 0.17% | 3,482 | $509K | Add +3.6% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.15% | 6,790 | $429K | Reduce -93.9% |
| DFAX Dimensional World Ex US Core | 0.14% | 14,202 | $417K | Reduce -23.8% |
| DMXF iShares ESG Advanc MSCI Eafe | 0.14% | 5,573 | $415K | Reduce -6.0% |
| GOVT iShares US Treasury Bond ETF | 0.13% | 17,132 | $394K | Add +7.1% |
| AMZN Amazon.com Inc. | 0.13% | 1,792 | $393K | Add +15.5% |
| OMC Omnicom Group | 0.13% | 5,147 | $370K | Add +25.8% |
| ALLE Allegion PLC | 0.12% | 2,419 | $349K | Add +6.2% |
| QCOM Qualcomm Inc. | 0.11% | 2,118 | $337K | Add +11.8% |
| FISV Fiserv Inc. | 0.11% | 1,928 | $332K | Add +11.0% |
| COR Cencora Inc. | 0.11% | 1,081 | $324K | New |
| ENB Enbridge Inc. | 0.11% | 7,135 | $323K | Add +7.1% |
| ESGE iShares Inc. iShares ESG Awar | 0.11% | 8,186 | $321K | Reduce -4.7% |
| NTRS Northern Trust Corp. | 0.11% | 2,522 | $320K | Add +2.1% |
| INGR Ingredion Inc. | 0.11% | 2,309 | $313K | Add +6.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.11% | 1,366 | $309K | Reduce -0.2% |
| VRSN Verisign Inc. | 0.11% | 1,070 | $309K | Add +5.7% |
| ICVT iShares Convertible Bond ETF | 0.10% | 3,322 | $299K | Reduce -45.2% |
| RTO Rentokil Initial PLC-SP ADR | 0.10% | 12,292 | $295K | Add +7.9% |
| PEP Pepsico Inc. | 0.09% | 2,073 | $274K | New |
| PODD Insulet Corp. | 0.09% | 853 | $268K | Reduce -7.3% |
| INTC Intel Corp. | 0.09% | 11,781 | $264K | No change |
| WMG Warner Music Group Corp. Class A | 0.09% | 9,619 | $262K | Add +3.7% |
| APH Amphenol Corp. Class A | 0.09% | 2,597 | $256K | New |
| YUMC Yum China Holdings Inc. | 0.09% | 5,685 | $254K | Add +1.9% |
| CI The Cigna Group | 0.09% | 767 | $254K | Add +7.6% |
| ZBRA Zebra Technologies Corp. Class A | 0.09% | 818 | $252K | Reduce -23.9% |
| NFG National Fuel Gas Co. | 0.09% | 2,976 | $252K | New |
| WMB Williams Cos Inc. | 0.09% | 3,979 | $250K | Reduce -2.6% |
| ANET Arista Networks Inc. | 0.08% | 2,396 | $245K | New |
| GWRE Guidewire Software Inc. | 0.08% | 1,018 | $240K | New |
| DCOR Dimensional US Core Eq 1 ETF | 0.08% | 3,582 | $239K | Add +0.1% |
| SOFI Sofi Technologies Inc. | 0.08% | 12,967 | $236K | Reduce -0.9% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.08% | 5,731 | $232K | Reduce -22.8% |
Portfolio Sells Q1 2025 → Q2 2025
| IVV iShares Core S&P 500 ETF | Reduce -47.4% | 8.11% | −7.52 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -93.9% | 0.15% | −2.19 |
| HEFA Isha Curr Hedged MSCI Eafe | Sold out | 0.00% | −1.07 |
| IVW iShares S&P 500 Growth ETF | Reduce -13.3% | 6.85% | −0.62 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -16.5% | 1.00% | −0.47 |
| IAU iShares Gold Trust | Reduce -26.6% | 0.91% | −0.40 |
| IYW iShares Ustechnology ETF | Reduce -21.3% | 2.18% | −0.34 |
| TLT iShares 20+ Year Treasury BD | Reduce -26.1% | 0.20% | −0.11 |
| USXF iShares ESG Advance MSCI USA | Reduce -32.8% | 0.25% | −0.11 |
| BDX Becton Dickinson and Co. | Reduce -1.3% | 0.21% | −0.11 |
| DFAC Dimensional US Core Equity 2 | Reduce -25.1% | 0.27% | −0.10 |
| ICVT iShares Convertible Bond ETF | Reduce -45.2% | 0.10% | −0.09 |
| CBSH Commerce Bancshares Inc. | Sold out | 0.00% | −0.09 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.08 |
| RYAN Ryan Specialty Holdings Inc. | Sold out | 0.00% | −0.08 |
| ORCL Oracle Corp. | Reduce -36.8% | 0.55% | −0.07 |
| V Visa Inc. Class A | Reduce -6.7% | 0.35% | −0.06 |
| VOO Vanguard S&P 500 ETF | Reduce -23.2% | 0.18% | −0.06 |
| MUB iShares National Muni Bond E | Reduce -0.1% | 0.40% | −0.05 |
| EBAY eBay Inc. | Reduce -13.0% | 0.31% | −0.05 |
| DFAX Dimensional World Ex US Core | Reduce -23.8% | 0.14% | −0.04 |
| PK Park Hotels & Resorts Inc. | Sold out | 0.00% | −0.04 |
| EAGG iShares ESG Aware US Aggrega | Reduce -25.5% | 0.08% | −0.04 |
| LCTU iShares U.S. Carbon Transiti | Reduce -6.3% | 0.40% | −0.03 |
| ZBRA Zebra Technologies Corp. Class A | Reduce -23.9% | 0.09% | −0.03 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -15.7% | 0.20% | −0.03 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -22.8% | 0.08% | −0.02 |
| ESGU iShares ESG Aware MSCI USA | Reduce -6.0% | 0.30% | −0.02 |
| DSI iShares ESG MSCI KLD 400 ETF | Reduce -8.3% | 0.26% | −0.02 |
| DMXF iShares ESG Advanc MSCI Eafe | Reduce -6.0% | 0.14% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -3.0% | 0.07% | −0.01 |
| WMB Williams Cos Inc. | Reduce -2.6% | 0.09% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -1.1% | 0.29% | −0.01 |
| ESGE iShares Inc. iShares ESG Awar | Reduce -4.7% | 0.11% | −0.01 |
| PODD Insulet Corp. | Reduce -7.3% | 0.09% | −0.00 |
| META Meta Platforms Inc. Class A | Reduce -11.3% | 0.80% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.2% | 0.11% | +0.02 |
| SOFI Sofi Technologies Inc. | Reduce -0.9% | 0.08% | +0.02 |
| MTUM iShares MSCI USA Momentum Fa | Reduce -3.3% | 2.10% | +0.05 |
Portfolio Buys Q1 2025 → Q2 2025
| THRO iShares U.S. Thematic Rotati | New | 2.90% | +2.90 |
| EFV iShares MSCI Eafe Value ETF | Add +68.7% | 7.44% | +2.85 |
| IEMG iShares Core MSCI Emerging | Add +102.7% | 4.55% | +2.29 |
| IAGG iShares Intl Aggregate Bond | New | 1.53% | +1.53 |
| BAI Ishrs AI in and Tech Act ETF | New | 1.07% | +1.07 |
| OEF iShares S&P 100 ETF | Add +50.6% | 2.97% | +1.01 |
| IVE iShares S&P 500 Value ETF | Add +21.8% | 6.09% | +0.63 |
| TLH iShares 10-20 Year Treasury | Add +42.0% | 2.16% | +0.42 |
| AMAT Applied Materials Inc. | New | 0.30% | +0.30 |
| AVGO Broadcom Inc. | Add +58.9% | 0.42% | +0.24 |
| STIP iShares 0-5 Year Tips Bond E | New | 0.18% | +0.18 |
| MSFT Microsoft Corp. | Add +12.5% | 0.65% | +0.16 |
| BKNG Booking Holdings Inc. | Add +6.0% | 0.70% | +0.11 |
| COR Cencora Inc. | New | 0.11% | +0.11 |
| PEP Pepsico Inc. | New | 0.09% | +0.09 |
| APH Amphenol Corp. Class A | New | 0.09% | +0.09 |
| NFG National Fuel Gas Co. | New | 0.09% | +0.09 |
| ANET Arista Networks Inc. | New | 0.08% | +0.08 |
| GWRE Guidewire Software Inc. | New | 0.08% | +0.08 |
| PREMIER INC-CLASS A | New | 0.08% | +0.08 |
| SNV Synovus Financial Corp. | New | 0.08% | +0.08 |
| RCL Royal Caribbean Cruises Ltd. | New | 0.08% | +0.08 |
| C Citigroup Inc. | New | 0.07% | +0.07 |
| BR Broadridge Financial Solutio | New | 0.07% | +0.07 |
| EPR Epr Properties | New | 0.07% | +0.07 |
| NI Nisource Inc. | New | 0.07% | +0.07 |
| CEG Constellation Energy | New | 0.07% | +0.07 |
| IQV Iqvia Holdings Inc. | New | 0.07% | +0.07 |
| DIS The Walt Disney Co. | New | 0.07% | +0.07 |
| COP Conocophillips | Add +69.0% | 0.29% | +0.06 |
| EFG iShares MSCI Eafe Growth ETF | Add +1.9% | 3.06% | +0.06 |
| JPM JPMorgan Chase & Co. | Add +1.5% | 0.85% | +0.06 |
| SCHW Schwab (charles) Corp. | Add +4.5% | 0.60% | +0.05 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Add +0.9% | 6.55% | +0.04 |
| GD General Dynamics Corp. | Add +17.6% | 0.28% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +17.8% | 0.18% | +0.03 |
| UL Unilever PLC | Add +19.9% | 0.32% | +0.03 |
| PM Philip Morris International | Add +1.7% | 0.69% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +3.0% | 0.63% | +0.03 |
| AMZN Amazon.com Inc. | Add +15.5% | 0.13% | +0.02 |
| ADI Analog Devices Inc. | Add +1.2% | 0.31% | +0.02 |
| NTRS Northern Trust Corp. | Add +2.1% | 0.11% | +0.02 |
| WFC Wells Fargo & Co. | Add +2.4% | 0.49% | +0.01 |
| BAC Bank of America Corp. | Add +3.1% | 0.19% | +0.01 |
| VRSN Verisign Inc. | Add +5.7% | 0.11% | +0.01 |
| ALLE Allegion PLC | Add +6.2% | 0.12% | +0.01 |
| QCOM Qualcomm Inc. | Add +11.8% | 0.11% | +0.00 |
| RTX RTX Corp. | Add +3.6% | 0.17% | +0.00 |
| QUAL iShares MSCI USA Quality Fac | Add +4.8% | 8.01% | +0.00 |
| RTO Rentokil Initial PLC-SP ADR | Add +7.9% | 0.10% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 131 | $388.4M | IVV, IUSB, IVW, DYNF, IVE |
| Q1 2026 | 119 | $340.7M | IVV, IVE, IVW, IUSB, DYNF |
| Q4 2025 | 121 | $331.3M | IVV, DYNF, IUSB, IVW, IVE |
| Q3 2025 | 128 | $322.7M | IUSB, QUAL, IVV, EFV, IVW |
| Q2 2025 | 116 | $294.0M | IUSB, IVV, QUAL, EFV, IVW |
| Q1 2025 | 100 | $262.4M | IVV, IUSB, QUAL, IVW, DYNF |
| Q4 2024 | 102 | $261.2M | IVV, IUSB, IVW, QUAL, DYNF |
| Q3 2024 | 97 | $257.9M | IVV, IUSB, IVW, QUAL, DYNF |
| Q2 2024 | 87 | $241.3M | IVV, IUSB, IVW, QUAL, DYNF |
| Q1 2024 | 86 | $229.2M | IVV, IUSB, QUAL, DYNF, EFV |