Keystone Financial Services

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Keystone Financial Services reported 128 stock positions worth $322.7 million. Its top holding was Ishr CR Unvrse Usd BD ETF-Ui (IUSB) at 8.1% of the portfolio, followed by iShares MSCI USA Quality Fac (QUAL, 7.9%) and iShares Core S&P 500 ETF (IVV, 7.9%). Compared with Q2 2025, it opened 15 new positions, sold out of 3, added to 80 and reduced 26. The biggest buy was Alphabet Class C (GOOG, shares +4%) and the biggest sale iShares MSCI Eafe Growth ETF (EFG, shares −1%).

Most Recent 13F
Q2 2026
Location
LOVELAND, CO
CIK
0001865158
Portfolio Value
$322.7M (Q3 2025)
SEC Filing
0001986152-25-000108 ↗ filed Nov 13, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $229.2M Q1 2024 Q2 2024: $241.3M Q2 2024 Q3 2024: $257.9M Q3 2024 Q4 2024: $261.2M Q4 2024 Q1 2025: $262.4M Q1 2025 Q2 2025: $294.0M Q2 2025 Q3 2025: $322.7M $322.7M Q3 2025 Q4 2025: $331.3M Q4 2025 Q1 2026: $340.7M Q1 2026 Q2 2026: $388.4M Q2 2026

Holdings 128 stocks · $322.7M
IUSB Ishr CR Unvrse Usd BD ETF-Ui 8.15% 562,880 $26.3M Add +0.3%
QUAL iShares MSCI USA Quality Fac 7.90% 131,117 $25.5M Add +1.8%
IVV iShares Core S&P 500 ETF 7.88% 37,976 $25.4M Reduce -1.1%
EFV iShares MSCI Eafe Value ETF 7.38% 351,052 $23.8M Add +1.9%
IVW iShares S&P 500 Growth ETF 6.99% 186,954 $22.6M Add +2.3%
DYNF Ishrs US E F R A ETF-Usd Inc. 6.65% 362,455 $21.5M Add +2.6%
IVE iShares S&P 500 Value ETF 6.00% 93,830 $19.4M Add +2.4%
IEMG iShares Core MSCI Emerging 4.68% 229,223 $15.1M Add +2.9%
OEF iShares S&P 100 ETF 3.12% 30,242 $10.1M Add +5.3%
THRO iShares U.S. Thematic Rotati 2.91% 248,266 $9.4M Add +3.5%
EFG iShares MSCI Eafe Growth ETF 2.82% 79,877 $9.1M Reduce -0.6%
IYW iShares Ustechnology ETF 2.19% 36,073 $7.1M Reduce -2.5%
MTUM iShares MSCI USA Momentum Fa 2.09% 26,260 $6.7M Add +2.2%
TLH iShares 10-20 Year Treasury 2.08% 65,130 $6.7M Add +4.3%
MBB iShares MBS ETF 1.77% 59,963 $5.7M Add +2.1%
IAGG iShares Intl Aggregate Bond 1.45% 91,229 $4.7M Add +3.7%
BAI Ishrs AI in and Tech Act ETF 1.25% 117,948 $4.0M Add +8.4%
BINC iShares Flex I A ETF-Usd Inc. 1.03% 62,676 $3.3M Add +3.5%
IAU iShares Gold Trust 1.02% 45,184 $3.3M Add +5.2%
BRK.B Berkshire Hathaway Inc. Class B 0.99% 6,343 $3.2M Add +5.0%
JPM JPMorgan Chase & Co. 0.87% 8,920 $2.8M Add +3.1%
GOOG Alphabet Inc. Class C 0.82% 10,912 $2.7M Add +3.9%
META Meta Platforms Inc. Class A 0.76% 3,349 $2.5M Add +5.1%
MSFT Microsoft Corp. 0.66% 4,093 $2.1M Add +6.3%
ORCL Oracle Corp. 0.65% 7,433 $2.1M Add +1.3%
BKNG Booking Holdings Inc. 0.62% 372 $2.0M Add +4.8%
SCHW Schwab (charles) Corp. 0.60% 20,369 $1.9M Add +5.7%
PM Philip Morris International 0.60% 11,973 $1.9M Add +7.5%
WFC Wells Fargo & Co. 0.49% 18,804 $1.6M Add +5.6%
AVGO Broadcom Inc. 0.46% 4,488 $1.5M No change
EMB iShares JP Morgan Usd Emergi 0.42% 14,269 $1.4M Add +3.5%
LCTU iShares U.S. Carbon Transiti 0.40% 17,863 $1.3M Add +1.4%
MUB iShares National Muni Bond E 0.40% 12,115 $1.3M Add +7.6%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.38% 11,124 $1.2M Add +3.5%
MCK McKesson Corp. 0.36% 1,500 $1.2M Add +5.1%
EBAY eBay Inc. 0.34% 12,165 $1.1M Add +0.6%
AMAT Applied Materials Inc. 0.33% 5,171 $1.1M Add +6.4%
GD General Dynamics Corp. 0.33% 3,081 $1.1M Add +8.2%
AAPL Apple Inc. 0.32% 4,063 $1.0M No change
V Visa Inc. Class A 0.32% 3,025 $1.0M Add +5.3%
NVS Novartis AG-Sponsored ADR 0.32% 8,051 $1.0M Add +6.4%
ADI Analog Devices Inc. 0.31% 4,086 $1.0M Add +6.5%
UL Unilever PLC 0.30% 16,393 $972K Add +7.8%
COP Conocophillips 0.30% 10,172 $962K Add +7.7%
ESGU iShares ESG Aware MSCI USA 0.30% 6,587 $959K Add +1.3%
CMCSA Comcast Corp. Class A 0.28% 28,606 $899K Add +9.3%
DFAC Dimensional US Core Equity 2 0.26% 21,935 $846K Add +0.3%
MDT Medtronic PLC 0.26% 8,788 $837K Add +8.4%
DSI iShares ESG MSCI KLD 400 ETF 0.26% 6,620 $834K Add +1.5%
USXF iShares ESG Advance MSCI USA 0.25% 13,801 $791K Add +1.1%
BDX Becton Dickinson and Co. 0.24% 4,176 $782K Add +18.4%
VTI VG Morningstar TS MKT ETF-US 0.23% 2,309 $758K Reduce -17.4%
GOOGL Alphabet Inc. Class A 0.23% 3,088 $751K Add +5.0%
XOM Exxon Mobil Corp. 0.23% 6,513 $734K Add +6.8%
SNY Sanofi-ADR 0.22% 15,040 $710K Add +5.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.21% 1,034 $689K Add +0.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.20% 12,588 $649K Add +6.4%
QQQ Invesco QQQ Trust Series 1 0.20% 1,077 $646K Add +0.1%
ELV Elevance Health Inc. 0.19% 1,933 $625K Add +11.2%
RTX RTX Corp. 0.19% 3,611 $604K Add +3.7%
VB Vanguard Most SM-Cap ETF-Usd 0.18% 2,344 $596K No change
KMX Carmax Inc. 0.18% 13,251 $595K Add +6.5%
VOO Vanguard S&P 500 ETF 0.18% 936 $573K Add +0.1%
TLT iShares 20+ Year Treasury BD 0.18% 6,351 $568K Reduce -4.8%
XLK SS Technology Select Sector 0.17% 1,995 $562K Reduce -2.0%
SUSC iShares ESG Aware Usd Corpor 0.17% 23,358 $550K Add +2.1%
STIP iShares 0-5 Year Tips Bond E 0.16% 5,077 $525K Reduce -3.4%
OMC Omnicom Group 0.15% 6,057 $494K Add +17.7%
AMZN Amazon.com Inc. 0.15% 2,159 $474K Add +20.5%
DFAX Dimensional World Ex US Core 0.14% 14,202 $446K No change
DMXF iShares ESG Advanc MSCI Eafe 0.13% 5,647 $428K Add +1.3%
ALLE Allegion PLC 0.13% 2,405 $427K Reduce -0.6%
TSM Taiwan Semiconductor-SP ADR 0.13% 1,445 $404K Add +5.8%
EMXC iShares MSCI Emr MRK Ex Chna 0.12% 5,821 $393K Reduce -14.3%
GOVT iShares US Treasury Bond ETF 0.12% 16,719 $387K Reduce -2.4%
ESGE iShares Inc. iShares ESG Awar 0.11% 8,337 $362K Add +1.8%
ENB Enbridge Inc. 0.11% 7,130 $360K Reduce -0.1%
QCOM Qualcomm Inc. 0.11% 2,143 $357K Add +1.2%
COR Cencora Inc. 0.11% 1,120 $350K Add +3.6%
ANET Arista Networks Inc. 0.11% 2,402 $350K Add +0.3%
SOFI Sofi Technologies Inc. 0.11% 13,015 $344K Add +0.4%
NTRS Northern Trust Corp. 0.10% 2,469 $332K Reduce -2.1%
WMG Warner Music Group Corp. Class A 0.10% 9,575 $326K Reduce -0.5%
APH Amphenol Corp. Class A 0.10% 2,624 $325K Add +1.0%
ICVT iShares Convertible Bond ETF 0.10% 3,190 $319K Reduce -4.0%
RTO Rentokil Initial PLC-SP ADR 0.10% 12,292 $310K No change
PEP Pepsico Inc. 0.09% 2,098 $295K Add +1.2%
PREMIER INC-CLASS A 0.09% 10,568 $294K Add +0.8%
APP AppLovin Corp. Class A 0.09% 404 $290K New
INTC Intel Corp. 0.09% 8,320 $279K Reduce -29.4%
VRSN Verisign Inc. 0.09% 997 $279K Reduce -6.8%
NFG National Fuel Gas Co. 0.09% 3,013 $278K Add +1.2%
INGR Ingredion Inc. 0.09% 2,261 $276K Reduce -2.1%
IQV Iqvia Holdings Inc. 0.08% 1,404 $267K Add +8.2%
BABA Alibaba Group Holding-SP ADR 0.08% 1,457 $260K New
DCOR Dimensional US Core Eq 1 ETF 0.08% 3,617 $260K Add +1.0%
GLW Corning Inc. 0.08% 3,155 $259K New
WBD Warner Bros Discovery Inc. 0.08% 13,193 $258K Reduce -3.5%
C Citigroup Inc. 0.08% 2,528 $257K Reduce -0.6%
STWD Starwood Property Trust Inc. 0.08% 13,174 $255K New

Show all 128 holdings

Portfolio Sells Q2 2025 → Q3 2025
EFG iShares MSCI Eafe Growth ETF Reduce -0.6% 2.82% −0.24
IVV iShares Core S&P 500 ETF Reduce -1.1% 7.88% −0.23
PODD Insulet Corp. Sold out 0.00% −0.09
SNV Synovus Financial Corp. Sold out 0.00% −0.08
XLV SS Health Care Select Sector Sold out 0.00% −0.07
VTI VG Morningstar TS MKT ETF-US Reduce -17.4% 0.23% −0.05
TLT iShares 20+ Year Treasury BD Reduce -4.8% 0.18% −0.02
EMXC iShares MSCI Emr MRK Ex Chna Reduce -14.3% 0.12% −0.02
STIP iShares 0-5 Year Tips Bond E Reduce -3.4% 0.16% −0.02
INGR Ingredion Inc. Reduce -2.1% 0.09% −0.02
CI The Cigna Group Reduce -2.6% 0.07% −0.02
VRSN Verisign Inc. Reduce -6.8% 0.09% −0.02
GOVT iShares US Treasury Bond ETF Reduce -2.4% 0.12% −0.01
ZBRA Zebra Technologies Corp. Class A Reduce -0.5% 0.07% −0.01
WH Wyndham Hotels & Resorts Inc. Reduce -0.6% 0.07% −0.01
WMB Williams Cos Inc. Reduce -0.6% 0.08% −0.01
CEG Constellation Energy Reduce -2.5% 0.06% −0.01
NTRS Northern Trust Corp. Reduce -2.1% 0.10% −0.01
INTC Intel Corp. Reduce -29.4% 0.09% −0.00
SPDW Ste STR SPDR PT DW Eu ETF Reduce -0.2% 0.08% −0.00
ICVT iShares Convertible Bond ETF Reduce -4.0% 0.10% −0.00
XLK SS Technology Select Sector Reduce -2.0% 0.17% −0.00
ENB Enbridge Inc. Reduce -0.1% 0.11% +0.00
C Citigroup Inc. Reduce -0.6% 0.08% +0.01
HBI Hanesbrands Inc. Reduce -1.3% 0.03% +0.01
IYW iShares Ustechnology ETF Reduce -2.5% 2.19% +0.01
WMG Warner Music Group Corp. Class A Reduce -0.5% 0.10% +0.01
ALLE Allegion PLC Reduce -0.6% 0.13% +0.01
WBD Warner Bros Discovery Inc. Reduce -3.5% 0.08% +0.03

Portfolio Buys Q2 2025 → Q3 2025
GOOG Alphabet Inc. Class C Add +3.9% 0.82% +0.19
BAI Ishrs AI in and Tech Act ETF Add +8.4% 1.25% +0.18
IVW iShares S&P 500 Growth ETF Add +2.3% 6.99% +0.15
OEF iShares S&P 100 ETF Add +5.3% 3.12% +0.14
IEMG iShares Core MSCI Emerging Add +2.9% 4.68% +0.14
IAU iShares Gold Trust Add +5.2% 1.02% +0.11
DYNF Ishrs US E F R A ETF-Usd Inc. Add +2.6% 6.65% +0.10
ORCL Oracle Corp. Add +1.3% 0.65% +0.10
APP AppLovin Corp. Class A New 0.09% +0.09
BABA Alibaba Group Holding-SP ADR New 0.08% +0.08
GLW Corning Inc. New 0.08% +0.08
STWD Starwood Property Trust Inc. New 0.08% +0.08
HHH Howard Hughes Holdings Inc. New 0.07% +0.07
IBIT iShares Bitcoin Trust ETF New 0.07% +0.07
AMG Affiliated Managers Group New 0.07% +0.07
EVR Evercore Inc. Class A New 0.07% +0.07
MTZ Mastec Inc. New 0.07% +0.07
EME Emcor Group Inc. New 0.07% +0.07
AYI Acuity Inc. New 0.06% +0.06
CRUS Cirrus Logic Inc. New 0.06% +0.06
CVS CVS Health Corp. New 0.06% +0.06
FANG Diamondback Energy Inc. New 0.06% +0.06
LCTD iShares World Ex U.S. Carbon New 0.06% +0.06
GOOGL Alphabet Inc. Class A Add +5.0% 0.23% +0.06
GD General Dynamics Corp. Add +8.2% 0.33% +0.04
BNY Bank of New York Mellon Corp. Add +3.5% 0.38% +0.04
EBAY eBay Inc. Add +0.6% 0.34% +0.04
BDX Becton Dickinson and Co. Add +18.4% 0.24% +0.04
OMC Omnicom Group Add +17.7% 0.15% +0.03
SOFI Sofi Technologies Inc. Add +0.4% 0.11% +0.03
AMAT Applied Materials Inc. Add +6.4% 0.33% +0.03
ANET Arista Networks Inc. Add +0.3% 0.11% +0.03
TSM Taiwan Semiconductor-SP ADR Add +5.8% 0.13% +0.02
MDT Medtronic PLC Add +8.4% 0.26% +0.02
JPM JPMorgan Chase & Co. Add +3.1% 0.87% +0.02
RTX RTX Corp. Add +3.7% 0.19% +0.01
APH Amphenol Corp. Class A Add +1.0% 0.10% +0.01
AMZN Amazon.com Inc. Add +20.5% 0.15% +0.01
IQV Iqvia Holdings Inc. Add +8.2% 0.08% +0.01
PREMIER INC-CLASS A Add +0.8% 0.09% +0.01
BAC Bank of America Corp. Add +6.4% 0.20% +0.01
THRO iShares U.S. Thematic Rotati Add +3.5% 2.91% +0.01
COP Conocophillips Add +7.7% 0.30% +0.01
NVS Novartis AG-Sponsored ADR Add +6.4% 0.32% +0.01
MSFT Microsoft Corp. Add +6.3% 0.66% +0.01
SCHW Schwab (charles) Corp. Add +5.7% 0.60% +0.00
XOM Exxon Mobil Corp. Add +6.8% 0.23% +0.00
MCK McKesson Corp. Add +5.1% 0.36% +0.00
WFC Wells Fargo & Co. Add +5.6% 0.49% +0.00
ESGE iShares Inc. iShares ESG Awar Add +1.8% 0.11% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 131$388.4MIVV, IUSB, IVW, DYNF, IVE
Q1 2026 119$340.7MIVV, IVE, IVW, IUSB, DYNF
Q4 2025 121$331.3MIVV, DYNF, IUSB, IVW, IVE
Q3 2025 128$322.7MIUSB, QUAL, IVV, EFV, IVW
Q2 2025 116$294.0MIUSB, IVV, QUAL, EFV, IVW
Q1 2025 100$262.4MIVV, IUSB, QUAL, IVW, DYNF
Q4 2024 102$261.2MIVV, IUSB, IVW, QUAL, DYNF
Q3 2024 97$257.9MIVV, IUSB, IVW, QUAL, DYNF
Q2 2024 87$241.3MIVV, IUSB, IVW, QUAL, DYNF
Q1 2024 86$229.2MIVV, IUSB, QUAL, DYNF, EFV