Summary:
1. Keystone Financial Planning sold the majority of its holdings in Toronto-Dominion Bank (TD) worth $8.4 million.
2. The fund reduced its position from 118,799 shares to just 4,104 shares, representing 0.1% of its assets under management.
3. TD Bank faced challenges in 2023 and 2024 but has shown signs of recovery under new leadership, prompting Keystone’s decision to exit its position.
Article:
Keystone Financial Planning recently made a significant move by selling off the majority of its holdings in Toronto-Dominion Bank (TD), also known as TD Bank. The sale, totaling around $8.4 million, was disclosed in the fund’s SEC filing for the period ended Q3 2025. This decision marked a significant shift in Keystone’s investment strategy, as it reduced its position in TD Bank from 118,799 shares to just 4,104 shares. As a result, TD Bank now represents only 0.1% of the fund’s 13F reportable assets under management as of September 30, 2025.
Following the sale of its TD Bank holdings, Keystone Financial Planning has redirected its investment focus towards other top holdings, including Schwab U.S. Dividend Equity ETF, Microsoft, Chevron, U.S. Bancorp, and Verizon Communications. These strategic reallocations reflect the fund’s commitment to diversification and risk management in its investment portfolio.
TD Bank faced challenges in 2023 and 2024, including regulatory fines and operational restrictions imposed by U.S. authorities. However, with the appointment of a new CEO, Raymond Chun, and an aggressive restructuring program, the bank has shown signs of recovery in 2025. This positive momentum may have influenced Keystone’s decision to exit its position in TD Bank and reallocate its resources to other financial companies like Bank of Nova Scotia and T. Rowe Price.
Overall, Keystone Financial Planning’s strategic move to sell off its TD Bank holdings highlights the fund’s commitment to adapting to market dynamics and optimizing its investment portfolio for long-term growth. By closely monitoring industry trends and company performance, the fund aims to maximize returns and mitigate risks in an ever-evolving financial landscape.
