Walter & Keenan Wealth Management LLC /in/

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

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Walter & Keenan Wealth Management LLC /in/ reported 152 stock positions worth $344.1 million. Its top holding was Microsoft (MSFT) at 5.7% of the portfolio, followed by Apple (AAPL, 5.4%) and Eli Lilly (LLY, 5.0%). Compared with Q1 2025, it opened 13 new positions, sold out of 10, added to 68 and reduced 60. The biggest buy was Microsoft (MSFT, shares +3%) and the biggest sale Eli Lilly (LLY, shares −9%).

Most Recent 13F: Q2 2026
Location: SOUTH BEND, IN
CIK: 0000752365
Portfolio Value: $344.1M (Q2 2025)
SEC Filing: 0000752365-25-000004 ↗ filed Aug 11, 2025

Holdings Value

Holdings 152 stocks · $344.1M


MSFT Microsoft Corp.	5.68%	39,300	$19.5M	Add +2.6%
AAPL Apple Inc.	5.41%	90,805	$18.6M	Add +0.4%
LLY Eli Lilly & Co.	5.05%	22,294	$17.4M	Reduce -9.4%
JPM JPMorgan Chase & Co.	3.64%	43,172	$12.5M	Reduce -3.1%
GOOG Alphabet Inc. Class C	3.63%	70,392	$12.5M	Reduce -0.3%
BRK.B Berkshire Hathaway Inc. Class B	3.38%	23,966	$11.6M	Add +2.7%
VTI VG Morningstar TS MKT ETF-US	2.55%	28,875	$8.8M	Add +30.6%
WMT Walmart Inc.	2.52%	88,796	$8.7M	Add +1.2%
VIG Vanguard Dividend Apprec ETF	2.31%	38,799	$7.9M	Add +0.8%
SCHB Schwab US Broad Market ETF	2.20%	317,485	$7.6M	Add +0.0%
VT Vanguard Tot World STK ETF	2.10%	56,220	$7.2M	Reduce -0.9%
V Visa Inc. Class A	1.98%	19,209	$6.8M	Add +2.4%
BRK.A Berkshire Hathaway Inc. Class A	1.91%	9	$6.6M	No change
CSCO Cisco Systems Inc.	1.89%	93,509	$6.5M	Reduce -4.6%
JNJ Johnson & Johnson	1.72%	38,763	$5.9M	Reduce -8.8%
NVDA Nvidia Corp.	1.63%	35,423	$5.6M	Add +10.9%
PG The Procter & Gamble Co.	1.57%	33,926	$5.4M	Reduce -2.1%
GOOGL Alphabet Inc. Class A	1.56%	30,442	$5.4M	Reduce -5.4%
VOO Vanguard S&P 500 ETF	1.53%	9,300	$5.3M	Add +1.6%
VYM Vanguard High DVD Yield ETF	1.52%	39,245	$5.2M	Reduce -10.3%
NTRS Northern Trust Corp.	1.42%	38,543	$4.9M	Reduce -8.6%
ABBV Abbvie Inc.	1.39%	25,730	$4.8M	Reduce -4.9%
COIN Coinbase Global Inc. Class A	1.29%	12,695	$4.4M	Reduce -0.1%
JEPI JPMorgan Equity Premium Inco	1.19%	72,262	$4.1M	Add +2.5%
RTX RTX Corp.	1.15%	27,119	$4.0M	Reduce -6.4%
DFAT Dimensional US Target Value	1.08%	68,798	$3.7M	Reduce -29.2%
AMZN Amazon.com Inc.	1.07%	16,735	$3.7M	Add +22.7%
HD Home Depot Inc.	1.03%	9,701	$3.6M	Reduce -8.5%
VUG Vanguard Mrngstar GR ETF-Sui	1.03%	8,076	$3.5M	Reduce -2.2%
ORCL Oracle Corp.	0.99%	15,545	$3.4M	Add +3.4%
SCHD Schwab US DVD Equity ETF	0.86%	111,265	$2.9M	Reduce -0.3%
VTV Vanguard Mrngstr Val ETF-Aui	0.84%	16,367	$2.9M	Reduce -2.6%
TXN Texas Instruments Inc.	0.82%	13,665	$2.8M	Add +3.2%
AMGN Amgen Inc.	0.82%	10,111	$2.8M	Add +1.8%
XOM Exxon Mobil Corp.	0.81%	25,834	$2.8M	Reduce -6.1%
PLTR Palantir Technologies Inc. Class A	0.80%	20,278	$2.8M	Add +3.7%
KO The Coca-Cola Co.	0.80%	38,675	$2.7M	Reduce -5.0%
MRK Merck & Co. Inc.	0.79%	34,168	$2.7M	Add +1.8%
COST Costco Wholesale Corp.	0.75%	2,610	$2.6M	Add +4.9%
META Meta Platforms Inc. Class A	0.73%	3,389	$2.5M	Add +19.8%
ACN Accenture PLC Class A	0.71%	8,163	$2.4M	Add +2.2%
AXP American Express Co.	0.69%	7,415	$2.4M	Reduce -14.1%
CSW CSW Industrials Inc.	0.67%	8,000	$2.3M	No change
MDT Medtronic PLC	0.66%	25,881	$2.3M	Reduce -7.7%
DFAS Dimensional US Small Cap ETF	0.65%	34,981	$2.2M	Add +24.8%
PEP Pepsico Inc.	0.65%	16,835	$2.2M	Reduce -3.6%
WFC Wells Fargo & Co.	0.64%	27,339	$2.2M	Add +2.6%
BTT BlackRock 2030 Muni TRGT TRM	0.59%	92,751	$2.0M	Reduce -10.6%
VYMI Vanguard Int High DVD YLD Inc.	0.57%	24,668	$2.0M	Reduce -0.2%
VBK Van Morst SML-Cap Gro-Usd Inc.	0.53%	6,634	$1.8M	Reduce -4.8%
SCHF Schwab Intl Equity ETF	0.53%	82,030	$1.8M	Add +0.7%
KKR KKR & Co. Inc.	0.51%	13,312	$1.8M	Add +0.0%
ITW Illinois Tool Works	0.50%	6,900	$1.7M	Reduce -12.6%
EMXC iShares MSCI Emr MRK Ex Chna	0.48%	26,367	$1.7M	No change
BX Blackstone Inc.	0.47%	10,745	$1.6M	Add +2.6%
NEE Nextera Energy Inc.	0.43%	21,397	$1.5M	Reduce -8.4%
DKS Dick's Sporting Goods Inc.	0.43%	7,509	$1.5M	Add +0.1%
MA Mastercard Inc. Class A	0.41%	2,536	$1.4M	Add +12.3%
BXSL Blackstone Secured Lending F	0.39%	43,716	$1.3M	Reduce -40.1%
SCHW Schwab (charles) Corp.	0.38%	14,433	$1.3M	Add +3.5%
ABT Abbott Laboratories	0.36%	9,208	$1.3M	Reduce -8.0%
SSNC Ss&c Technologies Holdings	0.36%	15,079	$1.2M	Add +0.1%
CB Chubb Ltd.	0.36%	4,233	$1.2M	Add +3.9%
BN Brookfield Corp.	0.35%	19,460	$1.2M	No change
AVGO Broadcom Inc.	0.34%	4,215	$1.2M	Add +49.1%
CMCSA Comcast Corp. Class A	0.33%	31,659	$1.1M	Reduce -9.8%
UNH Unitedhealth Group Inc.	0.33%	3,594	$1.1M	Reduce -3.7%
PM Philip Morris International	0.32%	6,051	$1.1M	Reduce -32.3%
MCD McDonald's Corp.	0.32%	3,715	$1.1M	Reduce -0.2%
PFE Pfizer Inc.	0.32%	44,725	$1.1M	Reduce -25.8%
VIGI Vanguard Int Div App Indx FD	0.31%	11,760	$1.1M	Reduce -10.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.31%	8,501	$1.1M	Reduce -12.1%
VZ Verizon Communications Inc.	0.31%	24,291	$1.1M	Reduce -14.6%
USRT iShares Core US REIT ETF	0.30%	18,024	$1.0M	Reduce -0.4%
KMI Kinder Morgan Inc.	0.30%	34,674	$1.0M	Add +11.0%
SO The Southern Co.	0.29%	10,945	$1.0M	Reduce -1.0%
DHR Danaher Corp.	0.28%	4,920	$972K	Add +4.8%
MCO Moody's Corp.	0.28%	1,900	$953K	Add +7.3%
MMM 3M Co.	0.26%	5,984	$911K	Reduce -13.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.26%	3,012	$888K	Reduce -18.4%
AEP American Electric Power	0.25%	8,456	$877K	Add +0.5%
DLR Digital Realty Trust Inc.	0.25%	4,957	$864K	Add +2.7%
IVV iShares Core S&P 500 ETF	0.25%	1,369	$850K	Add +0.1%
VRP Invesco Variable Rate Prefer	0.24%	33,526	$820K	Reduce -17.0%
APH Amphenol Corp. Class A	0.23%	8,175	$807K	Add +16.1%
WM Waste Management Inc.	0.23%	3,464	$793K	Add +3.4%
MO Altria Group Inc.	0.23%	13,422	$787K	Reduce -11.4%
CVX Chevron Corp.	0.23%	5,431	$778K	Reduce -34.6%
CAT Caterpillar Inc.	0.22%	1,990	$773K	Add +5.5%
DFAI Dimensional International Co.	0.22%	22,056	$762K	Add +3.1%
SRCE 1ST Source Corp.	0.21%	11,554	$717K	Add +50.6%
LMT Lockheed Martin Corp.	0.20%	1,511	$700K	Reduce -8.4%
SCHP Schwab U.S. Tips ETF	0.20%	26,150	$698K	Reduce -5.4%
ETX Eaton Vance Muni Inc. 2028 TM	0.20%	38,075	$686K	Reduce -6.8%
TSLA Tesla Inc.	0.20%	2,150	$683K	Add +76.7%
U Unity Software Inc.	0.19%	27,457	$664K	Add +1.1%
FITB Fifth Third Bancorp	0.19%	16,087	$662K	Reduce -42.6%
XPO Xpo Inc.	0.19%	5,194	$656K	Add +0.8%
VEEV Veeva Systems Inc. Class A	0.17%	1,979	$570K	Add +0.8%
SBUX Starbucks Corp.	0.16%	6,115	$560K	Add +2.3%
MRSH Marsh & McLennan Cos	0.16%	2,552	$558K	Add +0.4%
PYLD PIMCO Multisector Bond Actv	0.16%	20,919	$555K	Add +1.5%
ICE Intercontinental Exchange Inc.	0.16%	3,024	$555K	Add +1.3%
VB Vanguard Most SM-Cap ETF-Usd	0.16%	2,271	$538K	No change
T AT&T Inc.	0.15%	18,135	$525K	Add +18.1%
BLK BlackRock Inc.	0.15%	493	$517K	Add +21.4%
GD General Dynamics Corp.	0.15%	1,762	$514K	Reduce -3.8%
EPD Enterprise Products Partners	0.14%	16,048	$498K	Reduce -23.8%
NZF Nuveen Municipal Credit Inc.	0.14%	40,742	$486K	Reduce -40.0%
STIP iShares 0-5 Year Tips Bond E	0.14%	4,692	$483K	Reduce -17.4%
FDX FedEx Corp.	0.13%	2,027	$461K	Reduce -22.3%
GS Goldman Sachs Group Inc.	0.13%	618	$438K	Reduce -0.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.12%	8,763	$415K	Add +16.8%
INTC Intel Corp.	0.12%	18,504	$414K	Reduce -24.3%
VBR Vngrd Mrngst SL-CP Val ETF-U	0.12%	2,122	$414K	Reduce -20.3%
NFLX Netflix Inc.	0.11%	295	$395K	New
APD Air Products & Chemicals Inc.	0.11%	1,393	$393K	Add +1.7%
ISRG Intuitive Surgical Inc.	0.11%	719	$391K	Add +18.1%
DUK Duke Energy Corp.	0.11%	3,217	$380K	Add +4.1%
VXUS Vanguard Total Intl Stock	0.11%	5,443	$376K	New
DFAE Dimensional Emerging Core Eq	0.11%	12,892	$373K	Add +0.8%
TMO Thermo Fisher Scientific Inc.	0.11%	916	$371K	Add +4.3%
SPYD SS SPDR P S&P 500 Hi Div ETF	0.10%	8,227	$349K	Reduce -1.8%
BMY Bristol-Myers Squibb Co.	0.10%	7,530	$349K	Reduce -19.4%
NOC Northrop Grumman Corp.	0.09%	638	$319K	Add +8.5%
WELL Welltower Inc.	0.09%	2,039	$313K	Add +13.8%
TEL Te Connectivity PLC	0.09%	1,854	$313K	Add +1.4%
INTU Intuit Inc.	0.09%	397	$313K	New
NVS Novartis AG-Sponsored ADR	0.09%	2,550	$309K	Reduce -28.2%
HELO JPMorgan Hedged Equity ETF	0.09%	4,830	$302K	No change
EMR Emerson Electric Co.	0.08%	2,131	$284K	Add +6.8%
CVS CVS Health Corp.	0.08%	4,102	$283K	Add +11.3%
VTES Vanguard SH Term Tax-Ex Bond	0.08%	2,750	$278K	New
BND Vanguard Total Bond Market	0.08%	3,763	$277K	New
GXO Gxo Logistics Inc.	0.08%	5,564	$271K	Add +3.1%
ISTB iShares Core 1-5 Year Usd Bo	0.08%	5,540	$270K	No change
SCHE Schwab Emrg Mrkts Eqty ETF	0.08%	8,849	$267K	Add +0.0%
PYPL PayPal Holdings Inc.	0.08%	3,548	$264K	Add +14.3%
LIN Linde PLC	0.07%	531	$249K	New
CL Colgate-Palmolive Co.	0.07%	2,681	$244K	Add +12.0%
UBER Uber Technologies Inc.	0.07%	2,575	$240K	New
VWO Vanguard Ftse Emerging Marke	0.07%	4,727	$234K	Add +0.0%
NKE Nike Inc. Class B	0.07%	3,271	$232K	New
XLV SS Health Care Select Sector	0.07%	1,700	$229K	No change
DIVB iShares Core Dividend ETF	0.07%	4,500	$226K	No change
ENB Enbridge Inc.	0.06%	4,760	$216K	No change
VTIP Vanguard Short-Term Tips	0.06%	4,234	$213K	No change
QCOM Qualcomm Inc.	0.06%	1,322	$211K	New
CDNS Cadence Design SYS Inc.	0.06%	669	$206K	New
BKNG Booking Holdings Inc.	0.06%	35	$203K	New
NOW ServiceNow Inc.	0.06%	195	$200K	New
LCID Lucid Group Inc.	0.01%	11,446	$24K	New

Portfolio Sells Q1 2025 → Q2 2025


LLY Eli Lilly & Co.	Reduce -9.4%	5.05%	−1.07
DFAT Dimensional US Target Value	Reduce -29.2%	1.08%	−0.43
HON Honeywell International Inc.	Sold out	0.00%	−0.42
JNJ Johnson & Johnson	Reduce -8.8%	1.72%	−0.40
BXSL Blackstone Secured Lending F	Reduce -40.1%	0.39%	−0.32
ABBV Abbvie Inc.	Reduce -4.9%	1.39%	−0.32
UNH Unitedhealth Group Inc.	Reduce -3.7%	0.33%	−0.26
PG The Procter & Gamble Co.	Reduce -2.1%	1.57%	−0.21
CVX Chevron Corp.	Reduce -34.6%	0.23%	−0.19
VYM Vanguard High DVD Yield ETF	Reduce -10.3%	1.52%	−0.18
XOM Exxon Mobil Corp.	Reduce -6.1%	0.81%	−0.18
ALL Allstate Corp.	Sold out	0.00%	−0.15
PFE Pfizer Inc.	Reduce -25.8%	0.32%	−0.15
PEP Pepsico Inc.	Reduce -3.6%	0.65%	−0.14
OKE Oneok Inc.	Sold out	0.00%	−0.14
FITB Fifth Third Bancorp	Reduce -42.6%	0.19%	−0.14
HD Home Depot Inc.	Reduce -8.5%	1.03%	−0.14
SPG Simon Property Group Inc.	Sold out	0.00%	−0.11
NZF Nuveen Municipal Credit Inc.	Reduce -40.0%	0.14%	−0.11
PM Philip Morris International	Reduce -32.3%	0.32%	−0.11
MDT Medtronic PLC	Reduce -7.7%	0.66%	−0.10
ITW Illinois Tool Works	Reduce -12.6%	0.50%	−0.09
DFIS Dimensional International SM	Sold out	0.00%	−0.09
KO The Coca-Cola Co.	Reduce -5.0%	0.80%	−0.08
SCHD Schwab US DVD Equity ETF	Reduce -0.3%	0.86%	−0.08
VZ Verizon Communications Inc.	Reduce -14.6%	0.31%	−0.08
MDLZ Mondelez International Inc. Class A	Sold out	0.00%	−0.08
ELS Equity Lifestyle Properties	Sold out	0.00%	−0.08
BTT BlackRock 2030 Muni TRGT TRM	Reduce -10.6%	0.59%	−0.07
EPD Enterprise Products Partners	Reduce -23.8%	0.14%	−0.07
BMY Bristol-Myers Squibb Co.	Reduce -19.4%	0.10%	−0.07
UPS United Parcel Service Class B	Sold out	0.00%	−0.07
NEE Nextera Energy Inc.	Reduce -8.4%	0.43%	−0.07
WEC WEC Energy Group Inc.	Sold out	0.00%	−0.06
CMCSA Comcast Corp. Class A	Reduce -9.8%	0.33%	−0.06
FDX FedEx Corp.	Reduce -22.3%	0.13%	−0.06
VRP Invesco Variable Rate Prefer	Reduce -17.0%	0.24%	−0.06
INTC Intel Corp.	Reduce -24.3%	0.12%	−0.05
MO Altria Group Inc.	Reduce -11.4%	0.23%	−0.05
MMM 3M Co.	Reduce -13.6%	0.26%	−0.04
MIY BlackRock Muniyield Mi QLTY	Sold out	0.00%	−0.04
STIP iShares 0-5 Year Tips Bond E	Reduce -17.4%	0.14%	−0.04
ABT Abbott Laboratories	Reduce -8.0%	0.36%	−0.04
MCD McDonald's Corp.	Reduce -0.2%	0.32%	−0.03
VTV Vanguard Mrngstr Val ETF-Aui	Reduce -2.6%	0.84%	−0.03
NVS Novartis AG-Sponsored ADR	Reduce -28.2%	0.09%	−0.03
VBR Vngrd Mrngst SL-CP Val ETF-U	Reduce -20.3%	0.12%	−0.03
ETX Eaton Vance Muni Inc. 2028 TM	Reduce -6.8%	0.20%	−0.03
VIGI Vanguard Int Div App Indx FD	Reduce -10.9%	0.31%	−0.02
SCHP Schwab U.S. Tips ETF	Reduce -5.4%	0.20%	−0.02

Portfolio Buys Q1 2025 → Q2 2025


MSFT Microsoft Corp.	Add +2.6%	5.68%	+1.35
VTI VG Morningstar TS MKT ETF-US	Add +30.6%	2.55%	+0.72
NVDA Nvidia Corp.	Add +10.9%	1.63%	+0.58
ORCL Oracle Corp.	Add +3.4%	0.99%	+0.35
PLTR Palantir Technologies Inc. Class A	Add +3.7%	0.80%	+0.31
AMZN Amazon.com Inc.	Add +22.7%	1.07%	+0.29
META Meta Platforms Inc. Class A	Add +19.8%	0.73%	+0.24
WMT Walmart Inc.	Add +1.2%	2.52%	+0.20
AVGO Broadcom Inc.	Add +49.1%	0.34%	+0.20
DFAS Dimensional US Small Cap ETF	Add +24.8%	0.65%	+0.14
SCHB Schwab US Broad Market ETF	Add +0.0%	2.20%	+0.14
VOO Vanguard S&P 500 ETF	Add +1.6%	1.53%	+0.12
NFLX Netflix Inc.	New	0.11%	+0.11
VXUS Vanguard Total Intl Stock	New	0.11%	+0.11
TXN Texas Instruments Inc.	Add +3.2%	0.82%	+0.11
TSLA Tesla Inc.	Add +76.7%	0.20%	+0.10
APH Amphenol Corp. Class A	Add +16.1%	0.23%	+0.10
INTU Intuit Inc.	New	0.09%	+0.09
VTES Vanguard SH Term Tax-Ex Bond	New	0.08%	+0.08
BND Vanguard Total Bond Market	New	0.08%	+0.08
LIN Linde PLC	New	0.07%	+0.07
SRCE 1ST Source Corp.	Add +50.6%	0.21%	+0.07
UBER Uber Technologies Inc.	New	0.07%	+0.07
NKE Nike Inc. Class B	New	0.07%	+0.07
QCOM Qualcomm Inc.	New	0.06%	+0.06
WFC Wells Fargo & Co.	Add +2.6%	0.64%	+0.06
CDNS Cadence Design SYS Inc.	New	0.06%	+0.06
BKNG Booking Holdings Inc.	New	0.06%	+0.06
NOW ServiceNow Inc.	New	0.06%	+0.06
VIG Vanguard Dividend Apprec ETF	Add +0.8%	2.31%	+0.06
SCHW Schwab (charles) Corp.	Add +3.5%	0.38%	+0.05
KKR KKR & Co. Inc.	Add +0.0%	0.51%	+0.05
DLR Digital Realty Trust Inc.	Add +2.7%	0.25%	+0.04
COST Costco Wholesale Corp.	Add +4.9%	0.75%	+0.04
MA Mastercard Inc. Class A	Add +12.3%	0.41%	+0.04
SCHF Schwab Intl Equity ETF	Add +0.7%	0.53%	+0.04
CAT Caterpillar Inc.	Add +5.5%	0.22%	+0.04
BLK BlackRock Inc.	Add +21.4%	0.15%	+0.03
U Unity Software Inc.	Add +1.1%	0.19%	+0.03
MCO Moody's Corp.	Add +7.3%	0.28%	+0.03
VEEV Veeva Systems Inc. Class A	Add +0.8%	0.17%	+0.03
KMI Kinder Morgan Inc.	Add +11.0%	0.30%	+0.03
BAC Bank of America Corp.	Add +16.8%	0.12%	+0.03
BX Blackstone Inc.	Add +2.6%	0.47%	+0.03
XPO Xpo Inc.	Add +0.8%	0.19%	+0.02
ISRG Intuitive Surgical Inc.	Add +18.1%	0.11%	+0.02
T AT&T Inc.	Add +18.1%	0.15%	+0.02
DFAI Dimensional International Co.	Add +3.1%	0.22%	+0.02
EMR Emerson Electric Co.	Add +6.8%	0.08%	+0.02
PYPL PayPal Holdings Inc.	Add +14.3%	0.08%	+0.02

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	169	$404.6M	AAPL, LLY, GOOG, VTI, MSFT
Q1 2026	156	$355.2M	AAPL, LLY, GOOG, MSFT, VTI
Q4 2025	155	$373.1M	AAPL, LLY, MSFT, GOOG, JPM
Q3 2025	153	$360.5M	AAPL, MSFT, LLY, GOOG, JPM
Q2 2025	152	$344.1M	MSFT, AAPL, LLY, JPM, GOOG
Q1 2025	149	$332.0M	LLY, AAPL, MSFT, BRK.B, GOOG
Q4 2024	150	$330.9M	AAPL, LLY, MSFT, GOOG, JPM
Q3 2024	150	$329.2M	LLY, AAPL, MSFT, GOOG, BRK.B
Q2 2024	146	$314.1M	LLY, AAPL, MSFT, GOOG, BRK.B
Q1 2024	141	$305.2M	LLY, AAPL, MSFT, GOOG, BRK.B