Keystone Financial Services

Name: Keystone Financial Services 13F holdings, Q2 2025
Creator: Keystone Financial Services
Published: 2025-08-07

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

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%
PREMIER INC-CLASS A	0.08%	10,485	$230K	New
EAGG iShares ESG Aware US Aggrega	0.08%	4,718	$224K	Reduce -25.5%
SNV Synovus Financial Corp.	0.08%	4,277	$221K	New
RCL Royal Caribbean Cruises Ltd.	0.08%	706	$221K	New
MA Mastercard Inc. Class A	0.07%	389	$219K	Reduce -3.0%
WH Wyndham Hotels & Resorts Inc.	0.07%	2,679	$218K	Add +5.1%
C Citigroup Inc.	0.07%	2,543	$216K	New
XLV SS Health Care Select Sector	0.07%	1,567	$211K	No change
BR Broadridge Financial Solutio	0.07%	863	$210K	New
EPR Epr Properties filed as EPR PPTYS	0.07%	3,569	$208K	New
NI Nisource Inc.	0.07%	5,137	$207K	New
CEG Constellation Energy	0.07%	638	$206K	New
IQV Iqvia Holdings Inc.	0.07%	1,298	$205K	New
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.07%	1,632	$202K	New
WBD Warner Bros Discovery Inc.	0.05%	13,671	$157K	Add +5.6%
HBI Hanesbrands Inc.	0.02%	14,524	$67K	No change

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