SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Keystone Financial Services

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

Reported Value
$331M
Q4 2025
Positions
261
Filings on Record
18
2019–present window
Filed
Feb 12, 2026
original filing

Summary

Keystone Financial Services reported $331M in U.S.-listed holdings across 261 positions for Q4 2025.

Its largest position, Ishares Tr, represents 5.1% of the portfolio.

Compared with Q3 2025, the fund opened 9 new positions and exited 16.

Portfolio Metrics

Turnover
+9.1%
vs prior filed quarter
Top-10 Concentration
+40.0%
share of reported value
Largest Position
+5.1%
Ishares Tr
New / Exited
9 / 16
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: 83.3%Common Stock: 15.2%ADR: 1.1%Other: 0.4%
  • ETP · 83.3% · $276M
  • Common Stock · 15.2% · $50M
  • ADR · 1.1% · $4M
  • Other · 0.4% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+16.2K16.2K+$3M$3M
ULUNILEVER PLCNEW+14.6K14.6K+$956,409$956,409
ESGDISHARES TRNEW+3.0K3.0K+$283,586$283,586
ISHARES TRNEW+8.0K8.0K+$257,377$257,377
DFCFDIMENSIONAL ETF TRUSTNEW+5.3K5.3K+$224,887$224,887
COFCAPITAL ONE FINL CORPNEW+907907+$219,901$219,901
EXPEEXPEDIA GROUP INCNEW+739739+$209,366$209,366
GMGENERAL MTRS CONEW+2.6K2.6K+$208,572$208,572

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

Holdings — Q4 2025

17 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TLHISHARES TRCORE S&P500 ETF · CORE UNIVRSL USD · S&P 500 GRWT ETF · S&P 500 VAL ETF · EAFE VALUE ETF · MSCI USA QLT FCT · S&P 100 ETF · 10-20 YR TRS ETF · MSCI USA MMENTM · MBS ETF · CORE INTL AGGR · US AER DEF ETF · EAFE GRWTH ETF · NATIONAL MUN ETF57.05%$189M1.61M
2BLACKROCK ETF TRUSTISHARES US EQUIT · ISHARES US THEMA · ISHARES A I INNO13.18%$44M926.6K
3ISHARES INCCORE MSCI EMKT5.24%$17M258.4K
4IAU*ISHARES GOLD TRhistory →ISHARES NEW1.60%$5M65.2K
5BLACKROCK ETF TRUST IIISHARES FLEXIBLE0.80%$3M50.5K
6BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.76%$3M5.0K
7GOOGALPHABET INCCAP STK CL C0.70%$2M7.4K
8JPMJPMORGAN CHASE & CO.COM0.69%$2M7.1K
94I1PHILIP MORRIS INTL INCCOM0.54%$2M11.1K
10METAMETA PLATFORMS INCCL A0.49%$2M2.5K
11AVGOBROADCOM INCCOM0.48%$2M4.6K
12MSFTMICROSOFT CORPCOM0.47%$2M3.2K
13SCHWSCHWAB CHARLES CORPCOM0.46%$2M15.4K
14BKNGBOOKING HOLDINGS INCCOM0.43%$1M265
15WFCWELLS FARGO CO NEWCOM0.41%$1M14.4K
16AAPLAPPLE INCCOM0.40%$1M4.9K
17AMATAPPLIED MATLS INCCOM0.35%$1M4.6K

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 ↗.