# Keystone Financial Services

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1865158. Source: https://holderbook.com/funds/1865158-keystone-financial-services/

- Reported value: $388.4M
- Positions: 131
- Weight of the ten largest: 61.2%
- Filed: 2026-08-06

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $68.8M | 91,907 | 17.7% | 19 |
| ISHARES TR | [IUSB](https://holderbook.com/stocks/IUSB/) | $29.5M | 640,210 | 7.6% | 19 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $26.9M | 195,692 | 6.9% | 12 |
| BLACKROCK ETF TRUST | [DYNF](https://holderbook.com/stocks/DYNF/) | $25.9M | 381,483 | 6.7% | 10 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $22.8M | 100,629 | 5.9% | 10 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $15.6M | 188,291 | 4.0% | 15 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $13.5M | 108,877 | 3.5% | 19 |
| BLACKROCK ETF TRUST | [BAI](https://holderbook.com/stocks/BAI/) | $13.1M | 248,027 | 3.4% | 5 |
| ISHARES TR | [MTUM](https://holderbook.com/stocks/MTUM/) | $11.0M | 32,221 | 2.8% | 7 |
| BLACKROCK ETF TRUST | [BLCR](https://holderbook.com/stocks/BLCR/) | $10.2M | 202,072 | 2.6% | 2 |
| BLACKROCK ETF TRUST | [IDEF](https://holderbook.com/stocks/IDEF/) | $9.1M | 284,897 | 2.3% | 2 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $8.8M | 115,581 | 2.3% | 19 |
| BLACKROCK ETF TRUST | [CORO](https://holderbook.com/stocks/CORO/) | $8.8M | 239,879 | 2.3% | 1 |
| BLACKROCK ETF TRUST | [THRO](https://holderbook.com/stocks/THRO/) | $7.7M | 178,833 | 2.0% | 5 |
| ISHARES TR | [GOVT](https://holderbook.com/stocks/GOVT/) | $7.2M | 316,119 | 1.9% | 19 |
| ISHARES TR | [TLH](https://holderbook.com/stocks/TLH/) | $7.1M | 70,324 | 1.8% | 6 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $6.9M | 73,126 | 1.8% | 19 |
| BLACKROCK ETF TRUST | [IALT](https://holderbook.com/stocks/IALT/) | $5.3M | 189,907 | 1.4% | 1 |
| BLACKROCK ETF TRUST II | [GGOV](https://holderbook.com/stocks/GGOV/) | $4.1M | 82,178 | 1.1% | 1 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.5M | 9,839 | 0.9% | 19 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $3.3M | 6,587 | 0.8% | 19 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $2.9M | 8,929 | 0.8% | 19 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $2.9M | 3,957 | 0.7% | 5 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $2.4M | 6,413 | 0.6% | 8 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $2.3M | 12,793 | 0.6% | 19 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $2.2M | 28,905 | 0.6% | 6 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $2.1M | 11,488 | 0.5% | 19 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.0M | 3,618 | 0.5% | 19 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $2.0M | 22,065 | 0.5% | 19 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.0M | 8,286 | 0.5% | 9 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.9M | 5,198 | 0.5% | 16 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $1.6M | 7,419 | 0.4% | 14 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $1.5M | 10,462 | 0.4% | 19 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $1.5M | 18,117 | 0.4% | 19 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $1.5M | 3,724 | 0.4% | 19 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.5M | 5,094 | 0.4% | 19 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $1.4M | 13,128 | 0.4% | 6 |
| ISHARES TR | [ESGU](https://holderbook.com/stocks/ESGU/) | $1.4M | 8,281 | 0.3% | 19 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $1.3M | 8,902 | 0.3% | 19 |
| BLACKROCK ETF TRUST | [LCTU](https://holderbook.com/stocks/LCTU/) | $1.3M | 16,608 | 0.3% | 17 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $1.2M | 3,467 | 0.3% | 19 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $1.2M | 11,274 | 0.3% | 12 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $1.2M | 1,540 | 0.3% | 19 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.1M | 3,334 | 0.3% | 19 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $1.1M | 7,155 | 0.3% | 19 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.1M | 3,040 | 0.3% | 19 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.0M | 7,316 | 0.3% | 17 |
| UNILEVER PLC | [UL](https://holderbook.com/stocks/UL/) | $977.2K | 16,254 | 0.3% | 3 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $934.8K | 11,949 | 0.2% | 10 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $919.9K | 37,470 | 0.2% | 19 |
| ISHARES TR | [DSI](https://holderbook.com/stocks/DSI/) | $904.9K | 6,355 | 0.2% | 19 |
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $875.9K | 19,745 | 0.2% | 7 |
| BLACKROCK ETF TRUST II | [BINC](https://holderbook.com/stocks/BINC/) | $829.1K | 15,842 | 0.2% | 10 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $809.1K | 2,092 | 0.2% | 12 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $792.8K | 1,077 | 0.2% | 19 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $751.2K | 3,943 | 0.2% | 19 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $717.4K | 961 | 0.2% | 19 |
| ISHARES TR | [USXF](https://holderbook.com/stocks/USXF/) | $706.8K | 10,177 | 0.2% | 19 |
| OMNICOM GROUP INC | [OMC](https://holderbook.com/stocks/OMC/) | $698.7K | 9,594 | 0.2% | 15 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $681.0K | 5,532 | 0.2% | 1 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $678.5K | 1,833 | 0.2% | 19 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $670.9K | 3,536 | 0.2% | 11 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $645.0K | 2,128 | 0.2% | 19 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $639.9K | 2,696 | 0.2% | 2 |
| AMRIZE LTD | [AMRZ](https://holderbook.com/stocks/AMRZ/) | $587.4K | 11,021 | 0.2% | 2 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $581.8K | 1,218 | 0.1% | 9 |
| ISHARES TR | [SUSC](https://holderbook.com/stocks/SUSC/) | $555.1K | 23,977 | 0.1% | 15 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $526.7K | 1,588 | 0.1% | 2 |
| DIMENSIONAL ETF TRUST | [DFAX](https://holderbook.com/stocks/DFAX/) | $523.2K | 14,202 | 0.1% | 7 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $516.7K | 5,979 | 0.1% | 12 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $508.4K | 3,469 | 0.1% | 19 |
| ISHARES TR | [IYW](https://holderbook.com/stocks/IYW/) | $484.2K | 1,920 | 0.1% | 16 |
| ISHARES INC | [ESGE](https://holderbook.com/stocks/ESGE/) | $469.1K | 8,577 | 0.1% | 19 |
| ISHARES TR | [SYSB](https://holderbook.com/stocks/SYSB/) | $465.1K | 5,243 | 0.1% | 2 |
| ISHARES TR | [EAGG](https://holderbook.com/stocks/EAGG/) | $452.6K | 9,547 | 0.1% | 1 |
| ISHARES TR | [OEF](https://holderbook.com/stocks/OEF/) | $451.7K | 1,234 | 0.1% | 6 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $443.9K | 1,738 | 0.1% | 4 |
| ISHARES TR | [IAGG](https://holderbook.com/stocks/IAGG/) | $426.1K | 8,421 | 0.1% | 5 |
| ISHARES TR | [EVUS](https://holderbook.com/stocks/EVUS/) | $418.9K | 11,932 | 0.1% | 3 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $400.2K | 176 | 0.1% | 1 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $375.4K | 749 | 0.1% | 1 |
| MASTEC INC | [MTZ](https://holderbook.com/stocks/MTZ/) | $373.2K | 897 | 0.1% | 4 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $369.5K | 2,969 | 0.1% | 2 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $365.1K | 572 | 0.1% | 2 |
| ISHARES INC | [EMXC](https://holderbook.com/stocks/EMXC/) | $361.0K | 3,529 | 0.1% | 11 |
| ISHARES TR | [DMXF](https://holderbook.com/stocks/DMXF/) | $360.0K | 4,255 | 0.1% | 2 |
| RENTOKIL INITIAL PLC | [RTO](https://holderbook.com/stocks/RTO/) | $358.1K | 12,516 | 0.1% | 7 |
| NORTHERN TR CORP | [NTRS](https://holderbook.com/stocks/NTRS/) | $357.6K | 2,057 | 0.1% | 10 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $350.5K | 6,466 | 0.1% | 9 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $341.9K | 1,939 | 0.1% | 5 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $341.4K | 1,847 | 0.1% | 19 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $341.1K | 2,008 | 0.1% | 5 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $335.9K | 2,481 | 0.1% | 5 |
| ALLEGION PLC | [ALLE](https://holderbook.com/stocks/ALLE/) | $335.1K | 2,385 | 0.1% | 11 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $326.0K | 1,212 | 0.1% | 2 |
| AFFILIATED MANAGERS GROUP | [AMG](https://holderbook.com/stocks/AMG/) | $323.8K | 957 | 0.1% | 4 |
| ISHARES TR | [STIP](https://holderbook.com/stocks/STIP/) | $318.4K | 3,117 | 0.1% | 1 |
| EBAY INC. | [EBAY](https://holderbook.com/stocks/EBAY/) | $314.9K | 2,818 | 0.1% | 19 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $296.7K | 432 | 0.1% | 7 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $292.1K | 1,512 | 0.1% | 5 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +13.0% | +14.8% | -1.8% | 100% |
| Q1 2026 | -2.6% | -4.6% | +2.1% | 100% |
| Q4 2025 | +1.8% | +2.4% | -0.5% | 100% |
| Q3 2025 | +6.6% | +7.8% | -1.2% | 100% |
| Q2 2025 | +9.0% | +10.5% | -1.5% | 100% |
| Q1 2025 | -1.4% | -4.6% | +3.2% | 100% |
| Q4 2024 | -0.9% | +2.1% | -3.1% | 100% |
| Q3 2024 | +5.2% | +5.4% | -0.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $388.4M | 131 |
| Q1 2026 | $340.7M | 119 |
| Q4 2025 | $331.3M | 121 |
| Q3 2025 | $322.7M | 128 |
| Q2 2025 | $294.0M | 116 |
| Q1 2025 | $262.4M | 100 |
| Q4 2024 | $261.2M | 102 |
| Q3 2024 | $257.9M | 97 |
| Q2 2024 | $241.3M | 87 |
| Q1 2024 | $229.2M | 86 |
| Q4 2023 | $211.6M | 82 |
| Q3 2023 | $188.9M | 72 |