Managers / Q3 2023 · view latest →
Keystone Financial Services
CIK 0001865158 · 4090 CLYDESDALE PARKWAY, SUITE 201, LOVELAND, CO, 80538 · 970-744-5408
Summary
Keystone Financial Services reported $189M in U.S.-listed holdings across 171 positions for Q3 2023.
Its largest position, Ishares Tr, represents 15.3% of the portfolio.
Compared with Q2 2023, the fund opened 10 new positions and exited 11.
Portfolio Metrics
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
Portfolio Composition
- ETP · 87.2% · $165M
- Common Stock · 11.9% · $22M
- ADR · 0.7% · $1M
- Other · 0.3% · $472,925
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ISHARES TR | NEW | +117.3K | 117.3K | +$6M | $6M |
| ISHARES TR | NEW | +42.8K | 42.8K | +$4M | $4M |
| ISHARES TR | NEW | +53.0K | 53.0K | +$4M | $4M |
| ISHARES TR | NEW | +21.0K | 21.0K | +$2M | $2M |
| ISHARES TR | NEW | +8.5K | 8.5K | +$2M | $2M |
| ELVELEVANCE HEALTH INC | NEW | +1.1K | 1.1K | +$485,964 | $485,964 |
| COPCONOCOPHILLIPS | NEW | +3.2K | 3.2K | +$382,085 | $382,085 |
| CHVCHEVRON CORP NEW | NEW | +2.0K | 2.0K | +$328,979 | $328,979 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ISHARES TR | CORE S&P500 ETF · CORE TOTAL USD · EAFE VALUE ETF · MSCI USA QLT FCT · EAFE GRWTH ETF · ESG AWR MSCI USA · TRS FLT RT BD · MBS ETF · 20 YR TR BD ETF · MSCI USA MIN VOL · U.S. TECH ETF · S&P 500 GRWT ETF · TIPS BD ETF · CORE S&P MCP ETF · IBOXX INV CP ETF · US INFRASTRUC · US TREAS BD ETF | 80.59% | $152M | 1.64M |
| 2 | ISHARES INC | CORE MSCI EMKT | 2.88% | $5M | 114.3K |
| 3 | BRK/BBERKSHIRE HATHAWAY INC DELhistory → | CL B NEW | 1.45% | $3M | 7.8K |
| 4 | GOOGALPHABET INC | CAP STK CL C | 0.88% | $2M | 12.5K |
| 5 | METAMETA PLATFORMS INC | CL A | 0.74% | $1M | 4.7K |
| 6 | ORCLORACLE CORP | COM | 0.48% | $914,486 | 8.6K |
| 7 | JPMJPMORGAN CHASE & CO | COM | 0.44% | $834,178 | 5.8K |
| 8 | LCTUUSDBLACKROCK ETF TRUST | US CARBON TRANS | 0.36% | $678,514 | 14.4K |
| 9 | AAPLAPPLE INC | COM | 0.35% | $669,944 | 3.9K |
| 10 | 4I1PHILIP MORRIS INTL INC | COM | 0.34% | $638,287 | 6.9K |
| 11 | MSFTMICROSOFT CORP | COM | 0.33% | $632,519 | 2.0K |
| 12 | VANGUARD INDEX FDS | TOTAL STK MKT | 0.32% | $596,913 | 2.8K |
| 13 | CMCSACOMCAST CORP NEW | CL A | 0.31% | $581,331 | 13.1K |
| 14 | NVSNNOVARTIS AG | SPONSORED ADR | 0.28% | $537,165 | 5.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $341M | 259 | May 6, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $331M | 261 | Feb 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $323M | 271 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $294M | 249 | Aug 7, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $262M | 216 | Apr 23, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $261M | 223 | Jan 31, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $258M | 216 | Nov 5, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $241M | 200 | Jul 23, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $212M | 190 | Jan 29, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $189M | 171 | Nov 8, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $196M | 173 | Aug 2, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $187M | 183 | Apr 28, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $186M | 185 | Feb 1, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $172M | 183 | Oct 28, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $184M | 186 | Aug 3, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $174M | 164 | May 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $195M | 192 | Feb 1, 2022 | 13F-HR | changes · 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 ↗.