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Livermore
Livermore
ZHEN

Keystone Financial Planning, Inc.

SEC CIK
0001596906
Latest filing
Jul 15, 2026

The latest 13F from Keystone Financial Planning, Inc. covers Q2 2026 (filed Jul 15, 2026): 39 long positions worth $387.9M. The top 10 holdings make up 76.6% of the portfolio, and the largest is Schwab US Dividend Equity ETF at 51.1%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$16.8M
Added
7
Est. +$22.5M
Reduced
19
Est. −$20.3M
Sold out
4
Est. −$15.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. Schwab US Dividend Equity ETF808524797
    51.1%$198.2M
  2. USBUS Bancorp DE
    3.5%$13.7MHistory
  3. CVXChevron Corp
    3.5%$13.6MHistory
  4. BNSBank of Nova Scotia
    3.1%$11.9MHistory
  5. GSKGSK plc
    2.6%$10.3MHistory

Share of portfolio

Top 5 holdings and the other 34 positions, by share of portfolio value

  1. Schwab US Dividend Equity ETF51.1%
  2. USB3.5%
  3. CVX3.5%
  4. BNS3.1%
  5. GSK2.6%
  6. Other 34 positions36.2%

Biggest buys

New and added positions, by estimated amount bought

  1. GSKGSK plc
    +$9.93MAddedHistory
  2. MDTMedtronic plc
    +$9.89MNewHistory
  3. CVXChevron Corp
    +$9.44MAddedHistory
  4. XOMExxonMobil Holdings Corp
    +$6.56MNewHistory
  5. CMECME Group Inc.
    +$2.48MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. GSKGSK plc
    +2.55 pp0.1% → 2.6%History
  2. MDTMedtronic plc
    +2.55 pp0.0% → 2.5%History
  3. CVXChevron Corp
    +2.12 pp1.4% → 3.5%History
  4. XOMExxonMobil Holdings Corp
    +1.69 pp0.0% → 1.7%History
  5. USBUS Bancorp DE
    +0.41 pp3.1% → 3.5%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Schwab US Dividend Equity ETF808524797
    −$16.3MReduced
  2. XOMExxonMobil Holdings Corp
    −$8.26MSold outHistory
  3. CSCOCisco Systems, Inc.
    −$3.80MSold outHistory
  4. QCOMQualcomm Inc
    −$3.37MSold outHistory
  5. PMPhilip Morris International Inc.
    −$1.83MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. Schwab US Dividend Equity ETF808524797
    −4.34 pp55.4% → 51.1%
  2. XOMExxonMobil Holdings Corp
    −2.21 pp2.2% → 0.0%History
  3. CSCOCisco Systems, Inc.
    −1.02 pp1.0% → 0.0%History
  4. QCOMQualcomm Inc
    −0.90 pp0.9% → 0.0%History
  5. VZVerizon Communications Inc
    −0.64 pp3.2% → 2.6%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$387.9M
+$13.6M (+3.6%) vs. prior quarter
Positions
39
−1 vs. prior quarter
Top 10 concentration
76.6%
Top 10 as share of value
Turnover
9.4%
Q2 2026, one quarter
Average holding period
18.8 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $387.9M (Q2 2026)

Q1 2021: $268.3MQ2 2021: $276.1MQ3 2021: $275.1MQ4 2021: $293.6MQ1 2022: $298.8MQ2 2022: $284.6MQ3 2022: $260.2MQ4 2022: $296.7MQ1 2023: $293.9MQ2 2023: $298.7MQ3 2023: $286.2MQ4 2023: $302.7MQ1 2024: $308.4MQ2 2024: $302.2MQ3 2024: $330.4MQ4 2024: $322.4MQ1 2025: $335.6MQ2 2025: $330.8MQ3 2025: $344.1MQ4 2025: $344.8MQ1 2026: $374.4MQ2 2026: $387.9M
Q1 2021Q2 2026
13F filings of Keystone Financial Planning, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 15, 202639$387.9MSchwab US Dividend Equity ETFUSBCVXvs. Q1 2026SEC
Q1 2026Apr 9, 202640$374.4MSchwab US Dividend Equity ETFVZUSBvs. Q4 2025SEC
Q4 2025Jan 7, 202644$344.8MSchwab US Dividend Equity ETFMSFTPMvs. Q3 2025SEC
Q3 2025Oct 8, 202546$344.1MSchwab US Dividend Equity ETFMSFTCVXvs. Q2 2025SEC
Q2 2025Jul 31, 202545$330.8MSchwab US Dividend Equity ETFMSFTVZvs. Q1 2025SEC
Q1 2025Apr 9, 202546$335.6MSchwab US Dividend Equity ETFVZMSFTvs. Q4 2024SEC
Q4 2024Jan 13, 202546$322.4MSchwab US Dividend Equity ETFMSFTPMvs. Q3 2024SEC
Q3 2024Oct 28, 202447$330.4MSchwab US Dividend Equity ETFMSFTVZvs. Q2 2024SEC
Q2 2024Jul 10, 202449$302.2MSchwab US Dividend Equity ETFMSFTVZvs. Q1 2024SEC
Q1 2024Apr 10, 202449$308.4MSchwab US Dividend Equity ETFMSFTiShares Core High Dividend ETFvs. Q4 2023SEC
Q4 2023Jan 12, 202449$302.7MSchwab US Dividend Equity ETFMSFTVZvs. Q3 2023SEC
Q3 2023Oct 10, 202348$286.2MSchwab US Dividend Equity ETFMSFTPFEvs. Q2 2023SEC
Q2 2023Jul 11, 202347$298.7MSchwab US Dividend Equity ETFMSFTVZvs. Q1 2023SEC
Q1 2023Apr 21, 202345$293.9MSchwab US Dividend Equity ETFGSKVZvs. Q4 2022SEC
Q4 2022Jan 30, 202344$296.7MSchwab US Dividend Equity ETFCSCOGSKvs. Q3 2022SEC
Q3 2022Oct 12, 202244$260.2MSchwab US Dividend Equity ETFXOMCSCOvs. Q2 2022SEC
Q2 2022Jul 19, 202246$284.6MSchwab US Dividend Equity ETFXOMGSKvs. Q1 2022SEC
Q1 2022Apr 28, 202246$298.8MSchwab US Dividend Equity ETFXOMGSKvs. Q4 2021SEC
Q4 2021Feb 9, 202246$293.6MSchwab US Dividend Equity ETFGSKXOMvs. Q3 2021SEC
Q3 2021Oct 15, 202145$275.1MSchwab US Dividend Equity ETFXOMPFEvs. Q2 2021SEC
Q2 2021Aug 13, 202146$276.1MSchwab US Dividend Equity ETFXOMBENvs. Q1 2021SEC
Q1 2021May 7, 202143$268.3MSchwab US Dividend Equity ETFBENUSB–SEC