SEC 13F Intelligence

Managers / Q4 2022 · view latest →

Keystone Financial Services

CIK 0001865158 · 4090 CLYDESDALE PARKWAY, SUITE 201, LOVELAND, CO, 80538 · 970-744-5408

Reported Value
$186M
Q4 2022
Positions
185
Filings on Record
18
2019–present window
Filed
Feb 1, 2023
original filing

Summary

Keystone Financial Services reported $186M in U.S.-listed holdings across 185 positions for Q4 2022.

Its largest position, Ishares Tr, represents 13.1% of the portfolio.

Compared with Q3 2022, the fund opened 8 new positions and exited 7.

Portfolio Metrics

Turnover
+10.5%
vs prior filed quarter
Top-10 Concentration
+59.6%
share of reported value
Largest Position
+13.1%
Ishares Tr
New / Exited
8 / 7
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $195MQ4 ’21Q1 ’22: $174MQ2 ’22: $184MQ3 ’22: $172MQ3 ’22Q4 ’22: $186MQ1 ’23: $187MQ2 ’23: $196MQ2 ’23Q3 ’23: $189MQ4 ’23: $212MQ2 ’24: $241MQ2 ’24Q3 ’24: $258MQ4 ’24: $261MQ1 ’25: $262MQ1 ’25Q2 ’25: $294MQ3 ’25: $323MQ4 ’25: $331MQ4 ’25Q1 ’26: $341Mfilingsflow.com

Portfolio Composition

By security type
ETP: 87.1%Common Stock: 11.9%ADR: 0.5%Other: 0.5%REIT: 0.1%
  • ETP · 87.1% · $162M
  • Common Stock · 11.9% · $22M
  • ADR · 0.5% · $977,032
  • Other · 0.5% · $850,024
  • REIT · 0.1% · $120,698

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES INCNEW+204.9K204.9K+$10M$10M
ISHARES TRNEW+28.9K28.9K+$3M$3M
ISHARES TRNEW+24.1K24.1K+$561,970$561,970
BRBROADRIDGE FINL SOLUTIONS INNEW+1.7K1.7K+$250,650$250,650
OMCOMNICOM GROUP INCNEW+2.7K2.7K+$228,699$228,699
ZBRAZEBRA TECHNOLOGIES CORPORATINEW+688688+$217,532$217,532
GQ9SPDR GOLD TRNEW+1.2K1.2K+$209,372$209,372
AGNCAGNC INVT CORPNEW+10.4K10.4K+$120,698$120,698

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2022

14 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TLHISHARES TRCORE S&P500 ETF · ESG AWR MSCI USA · CORE TOTAL USD · EAFE VALUE ETF · EAFE GRWTH ETF · MBS ETF · U.S. TECH ETF · MSCI USA MIN VOL · MSCI USA MMENTM · 10-20 YR TRS ETF · CORE S&P SCP ETF · JPMORGAN USD EMG · US INFRASTRUC · TIPS BD ETF · US TREAS BD ETF · 0-5YR HI YL CP · ESG AWRE USD ETF · MSCI KLD400 SOC · ESG MSCI USA ETF77.76%$145M1.64M
2ISHARES INCCORE MSCI EMKT5.60%$10M204.9K
3BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.28%$2M7.6K
4GOOGALPHABET INCCAP STK CL C0.70%$1M13.0K
5VANGUARD INDEX FDSTOTAL STK MKT · SMALL CP ETF0.57%$1M5.2K
6ORCLORACLE CORPCOM0.50%$933,45010.6K
7JPMJPMORGAN CHASE & COCOM0.43%$806,1395.8K
8AAPLAPPLE INCCOM0.37%$693,0254.8K
94I1PHILIP MORRIS INTL INCCOM0.34%$640,6076.1K
10ABGAMERISOURCEBERGEN CORPCOM0.29%$540,8413.2K
11ENBENBRIDGE INCCOM0.28%$516,05812.6K
12SCHWSCHWAB CHARLES CORPCOM0.27%$509,4246.6K
13CMCSACOMCAST CORP NEWCL A0.27%$493,16712.5K
14MSFTMICROSOFT CORPCOM0.26%$484,2212.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$341M259May 6, 202613F-HRchanges · EDGAR ↗
Q4 2025$331M261Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$323M271Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$294M249Aug 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$262M216Apr 23, 202513F-HRchanges · EDGAR ↗
Q4 2024$261M223Jan 31, 202513F-HRchanges · EDGAR ↗
Q3 2024$258M216Nov 5, 202413F-HRchanges · EDGAR ↗
Q2 2024$241M200Jul 23, 202413F-HRchanges · EDGAR ↗
Q4 2023$212M190Jan 29, 202413F-HRchanges · EDGAR ↗
Q3 2023$189M171Nov 8, 202313F-HRchanges · EDGAR ↗
Q2 2023$196M173Aug 2, 202313F-HRchanges · EDGAR ↗
Q1 2023$187M183Apr 28, 202313F-HRchanges · EDGAR ↗
Q4 2022$186M185Feb 1, 202313F-HRchanges · EDGAR ↗
Q3 2022$172M183Oct 28, 202213F-HRchanges · EDGAR ↗
Q2 2022$184M186Aug 3, 202213F-HRchanges · EDGAR ↗
Q1 2022$174M164May 10, 202213F-HRchanges · EDGAR ↗
Q4 2021$195M192Feb 1, 202213F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.