Institutional Manager · CIK 0001729299

Keystone Financial Group

LEXINGTON, KY · File #028-18307

Latest AUM

$1.35B

Positions

454

Top-10 Concentration

51.7%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
ADD	SPDR S&P	SPY	+114,630	+$78.2M	+$139,724
REDUCE	ELI LILLY	LLY	-49,867	-$53.6M	+$55.4M
ADD	PALANTIR TECHNOLOGIES	PLTR	+246,625	+$43.8M	-$10,889
ADD	ISHARES INC	46434G103	+209,868	+$14.1M	+$251,051
ADD	META PLATFORMS	META	+19,493	+$12.9M	-$1.0M
ADD	ISHARES U S	BLK	+198,675	+$12.1M	+$2.2M
ADD	AMAZON COM	AMZN	+50,991	+$11.8M	+$457,968
ADD	ISHARES A I	BLK	+348,552	+$11.6M	+$47,333
ADD	VICTORYSHARES FREE	92647X830	+269,496	+$10.6M	+$3.1M
ADD	FIRST TRUST	33740F755	+257,788	+$8.8M	+$298,489

Sector Allocation

Technology

17.7%$238.9M

Financials

8.4%$113.3M

Consumer Discretionary

7.4%$100.3M

Healthcare

2.1%$29.1M

Communication Services

2.0%$27.1M

0.9%$12.1M

0.9%$12.1M

0.8%$11.6M

0.3%$3.8M

0.1%$1.9M

0.1%$1.1M

Filing History

Feb 6, 202613F HOLDINGS REPORTQ/E Dec 2025454 pos · $1.35B
Nov 17, 202513F HOLDINGS REPORT (Amended)Q/E Sep 2025442 pos · $1.31B
Nov 14, 202513F HOLDINGS REPORTQ/E Sep 2025442 pos · $1.31B
Aug 13, 202513F HOLDINGS REPORTQ/E Jun 2025441 pos · $1.11B
May 13, 202513F HOLDINGS REPORTQ/E Mar 2025405 pos · $983.7M
Feb 19, 202513F HOLDINGS REPORT (Amended)Q/E Dec 2024373 pos · $781.4M
Feb 18, 202513F HOLDINGS REPORT (Amended)Q/E Dec 2024352 pos · $768.5M
Feb 13, 202513F HOLDINGS REPORTQ/E Dec 2024395 pos · $1.02B
Feb 13, 202513F HOLDINGS REPORT (Amended)Q/E Dec 2024369 pos · $774.6M
Nov 12, 202413F HOLDINGS REPORTQ/E Sep 2024177 pos · $302.9M
Jul 31, 202413F HOLDINGS REPORTQ/E Jun 2024169 pos · $279.2M
May 8, 202413F HOLDINGS REPORTQ/E Mar 2024347 pos · $686.5M
Nov 6, 202313F HOLDINGS REPORTQ/E Dec 2023300 pos · $597.1M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	APPLE INC	AAPL	341,627	$92.9M	9.75%
2	SPDR S&P	SPY	117,643	$80.2M	8.42%
3	PALANTIR TECHNOLOGIES	PLTR	248,827	$44.2M	4.64%
4	STATE STREET	78464A854	523,900	$42.0M	4.41%
5	VICTORYSHARES FREE	92647X830	1,047,375	$41.2M	4.33%
6	TESLA INC	TSLA	90,537	$40.7M	4.27%
7	VANGUARD TOTAL	922908769	119,761	$40.2M	4.22%
8	NVIDIA CORP	NVDA	215,201	$40.1M	4.21%
9	STATE STREET	78464A409	349,716	$37.3M	3.92%
10	ISHARES U S	BLK	550,402	$33.5M	3.51%
11	MICROSOFT CORP	MSFT	48,359	$23.4M	2.46%
12	BERKSHIRE HATHAWAY	BRK-A	45,603	$22.9M	2.41%
13	VANGUARD S&P	922908363	36,020	$22.6M	2.37%
14	AMAZON COM	AMZN	96,111	$22.2M	2.33%
15	META PLATFORMS	META	32,891	$21.7M	2.28%
16	JPMORGAN CHASE	VYLD	58,950	$19.0M	1.99%
17	ADVANCED MICRO	AMD	82,849	$17.7M	1.86%
18	SEAGATE TECHNOLOGY	SE	62,817	$17.3M	1.82%
19	INVESCO S&P	IVZ	287,094	$17.0M	1.79%
20	ISHARES INC	46434G103	245,277	$16.5M	1.73%