WALTER & KEENAN WEALTH MANAGEMENT LLC /IN/ /ADV

Portfolio Overview

WALTER & KEENAN WEALTH MANAGEMENT LLC /IN/ /ADV disclosed 169 positions worth $404.6M in its Form 13F-HR for Q2 2026, led by $AAPL (Apple Inc.) at 6.4% of the equity portfolio, followed by $LLY and $GOOGL. During the quarter the fund opened 14 new positions and exited 1 and a full exit from $IBIT. The portfolio is most concentrated in Technology (27.4% of disclosed assets). All figures are sourced directly from WALTER & KEENAN WEALTH MANAGEMENT LLC /IN/ /ADV’s Form 13F-HR filing with the SEC under CIK 752365.

• 

  Apple Inc.

  $AAPL

  76.4#84

  Quality

  $26.0M89,982 sh
• 

  ELI LILLY & Co

  $LLY

  87.5#2

  Quality

  $25.5M21,280 sh
• 

  Alphabet Inc.

  $GOOGL

  78.2#57

  Quality

  $20.3M57,541 sh

• VANGUARD INDEX FDS - TOTAL STK MKT

  —

  Quality

  $14.8M39,868 sh
• 

  MICROSOFT CORP

  $MSFT

  79.8

  Quality

  $13.5M36,279 sh
• 

  JPMORGAN CHASE & CO

  $JPM

  70.7

  Quality

  $12.8M39,146 sh
• 

  BERKSHIRE HATHAWAY INC

  $BRK.B

  73.8

  Quality

  $11.8M23,522 sh

• VANGUARD INDEX FDS - S&P 500 ETF SHS

  —

  Quality

  $11.6M16,853 sh
• 

  CISCO SYSTEMS, INC.

  $CSCO

  70.3

  Quality

  $10.9M93,101 sh
• 

  Alphabet Inc.

  $GOOG

  78.2

  Quality

  $10.9M30,571 sh

Company	Quality	Value	Shares
Apple Inc.$AAPL	76.4#84	$26.0M	89,982
ELI LILLY & Co$LLY	87.5#2	$25.5M	21,280
Alphabet Inc.$GOOGL	78.2#57	$20.3M	57,541
VANGUARD INDEX FDS - TOTAL STK MKT	—	$14.8M	39,868
MICROSOFT CORP$MSFT	79.8	$13.5M	36,279
JPMORGAN CHASE & CO$JPM	70.7	$12.8M	39,146
BERKSHIRE HATHAWAY INC$BRK.B	73.8	$11.8M	23,522
VANGUARD INDEX FDS - S&P 500 ETF SHS	—	$11.6M	16,853
CISCO SYSTEMS, INC.$CSCO	70.3	$10.9M	93,101
Alphabet Inc.$GOOG	78.2	$10.9M	30,571

Showing top 10 of 169 holdings.

Top Holdings — WALTER & KEENAN WEALTH MANAGEMENT LLC /IN/ /ADV (Q2 2026)

Top 150 of 169 disclosed positions (by reported value) from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$AAPL	Apple Inc.	$26.0M	6.4%	+0%	76.4
2	$LLY	ELI LILLY & Co	$25.5M	6.3%	-0%	87.5
3	$GOOGL	Alphabet Inc.	$20.3M	5.0%	-0%	78.2
4	—	VANGUARD INDEX FDS - TOTAL STK MKT	$14.8M	3.6%	+1%	—
5	$MSFT	MICROSOFT CORP	$13.5M	3.3%	+0%	79.8
6	$JPM	JPMORGAN CHASE & CO	$12.8M	3.2%	+1%	70.7
7	$BRK.B	BERKSHIRE HATHAWAY INC	$11.8M	2.9%	+2%	73.8
8	—	VANGUARD INDEX FDS - S&P 500 ETF SHS	$11.6M	2.9%	+65%	—
9	$CSCO	CISCO SYSTEMS, INC.	$10.9M	2.7%	+0%	70.3
10	$GOOG	Alphabet Inc.	$10.9M	2.7%	+1%	78.2
11	—	VANGUARD SPECIALIZED FUNDS - DIV APP ETF	$10.5M	2.6%	+1%	—
12	—	SCHWAB STRATEGIC TR - US BRD MKT ETF	$9.8M	2.4%	-0%	—
13	$DOV	DOVER Corp	$9.3M	2.3%	-2%	58.1
14	$WMT	Walmart Inc.	$9.3M	2.3%	-1%	60.2
15	$JNJ	JOHNSON & JOHNSON	$8.6M	2.1%	-0%	69
16	$NVDA	NVIDIA CORP	$6.8M	1.7%	+3%	85.9
17	$V	VISA INC.	$6.8M	1.7%	+5%	82.9
18	$NTRS	NORTHERN TRUST CORP	$6.1M	1.5%	+0%	65.2
19	$ABBV	AbbVie Inc.	$6.0M	1.5%	-0%	72.6
20	$BRK.A	BERKSHIRE HATHAWAY INC	$6.0M	1.5%	+0%	73.8
21	—	VANGUARD WHITEHALL FDS - HIGH DIV YLD	$5.8M	1.4%	-0%	—
22	—	DIMENSIONAL ETF TRUST - US TARGETED VLU	$5.3M	1.3%	+2%	—
23	$RTX	RTX Corp	$5.2M	1.3%	+1%	73.2
24	$AMZN	AMAZON COM INC	$4.5M	1.1%	+6%	68.7
25	$PG	PROCTER & GAMBLE Co	$4.2M	1.0%	-2%	64.6
26	$TXN	TEXAS INSTRUMENTS INC	$3.9M	0.9%	+0%	73.4
27	$MRK	Merck & Co., Inc.	$3.8M	0.9%	+0%	59.9
28	$AMGN	AMGEN INC	$3.6M	0.9%	-1%	79.2
29	$XOM.R34088	EXXON MOBIL CORP	$3.6M	0.9%	-1%	57.9
30	—	VANGUARD INDEX FDS - GROWTH ETF	$3.4M	0.8%	+521%	—
31	$HD	HOME DEPOT, INC.	$3.3M	0.8%	+2%	60.3
32	—	VANGUARD INDEX FDS - VALUE ETF	$3.2M	0.8%	+9%	—
33	—	J P MORGAN EXCHANGE TRADED F - EQUITY PREMIUM	$3.2M	0.8%	+2%	—
34	$KO	COCA COLA CO	$3.0M	0.8%	+1%	69.5
35	—	ISHARES TR - MSCI INTL QUALTY	$2.9M	0.7%	+0%	—
36	—	DIMENSIONAL ETF TRUST - US SMALL CAP ETF	$2.9M	0.7%	+2%	—
37	—	ISHARES INC - MSCI EMRG CHN	$2.7M	0.7%	+0%	—
38	—	SCHWAB STRATEGIC TR - US DIVIDEND EQ	$2.7M	0.7%	+0%	—
39	$AXP	AMERICAN EXPRESS CO	$2.6M	0.6%	+1%	69.4
40	$COST	COSTCO WHOLESALE CORP /NEW	$2.4M	0.6%	-1%	66.2
41	$PLTR	Palantir Technologies Inc.	$2.4M	0.6%	+3%	84.6
42	—	VANGUARD WHITEHALL FDS - INTL HIGH ETF	$2.4M	0.6%	-1%	—
43	—	SCHWAB STRATEGIC TR - INTL EQTY ETF	$2.3M	0.6%	+0%	—
44	$WFC	WELLS FARGO & COMPANY/MN	$2.3M	0.6%	-1%	61.8
45	$CSW	CSW INDUSTRIALS, INC.	$2.2M	0.6%	+0%	61.8
46	$ORCL	ORACLE CORP	$2.2M	0.6%	+0%	66.2
47	—	DIMENSIONAL ETF TRUST - INTL CORE EQT MK	$2.2M	0.6%	+13%	—
48	$CAT	CATERPILLAR INC	$2.2M	0.5%	+1%	66.5
49	$NEE	NEXTERA ENERGY INC	$1.9M	0.5%	+1%	64.6
50	$META	Meta Platforms, Inc.	$1.8M	0.5%	-0%	79.6
51	$MDT	Medtronic plc	$1.8M	0.5%	-4%	68.7
52	$PEP	PEPSICO INC	$1.7M	0.4%	-0%	63.4
53	—	VANGUARD INDEX FDS - SML CP GRW ETF	$1.7M	0.4%	-16%	—
54	$AVGO	Broadcom Inc.	$1.7M	0.4%	+2%	84.5
55	$BTT	BlackRock Municipal 2030 Target Term Trust	$1.6M	0.4%	+0%	—
56	$APH	AMPHENOL CORP /DE/	$1.4M	0.4%	-0%	79.3
57	$INTC	INTEL CORP	$1.4M	0.3%	+1%	45.6
58	$SCHW	SCHWAB CHARLES CORP	$1.3M	0.3%	-0%	79.4
59	$KKR	KKR & Co. Inc.	$1.3M	0.3%	+0%	54.3
60	$BN	BROOKFIELD Corp /ON/	$1.2M	0.3%	+0%	—
61	$BX	Blackstone Inc.	$1.2M	0.3%	-0%	74.4
62	$ITW	ILLINOIS TOOL WORKS INC	$1.2M	0.3%	-11%	63.6
63	$AEP	AMERICAN ELECTRIC POWER CO INC	$1.2M	0.3%	+2%	66.8
64	—	ISHARES TR - CRE U S REIT ETF	$1.2M	0.3%	+0%	—
65	$MA	Mastercard Inc	$1.2M	0.3%	+3%	85.1
66	—	VANGUARD WHITEHALL FDS - INTL DVD ETF	$1.1M	0.3%	+0%	—
67	$PM	Philip Morris International Inc.	$1.1M	0.3%	+1%	75.9
68	$XPO	XPO, Inc.	$1.0M	0.3%	-4%	58.4
69	—	ISHARES TR - CORE S&P500 ETF	$1.0M	0.3%	+0%	—
70	$MU	MICRON TECHNOLOGY INC	$1.0M	0.3%	+3%	86.2
71	$SO	SOUTHERN CO	$988,698	0.2%	+2%	62
72	$MCD	MCDONALDS CORP	$984,739	0.2%	-5%	69
73	$KMI	KINDER MORGAN, INC.	$960,922	0.2%	+0%	71.3
74	$TSLA	Tesla, Inc.	$952,659	0.2%	+0%	53.9
75	—	PIMCO ETF TR - MULTISECTOR BD	$932,310	0.2%	+21%	—
76	$MO	ALTRIA GROUP, INC.	$911,391	0.2%	+3%	67.4
77	$AMD	ADVANCED MICRO DEVICES INC	$891,697	0.2%	-1%	79.8
78	$DHR	DANAHER CORP /DE/	$875,065	0.2%	-0%	64.8
79	$CVX	CHEVRON CORP	$865,433	0.2%	-4%	62.8
80	$FITB	FIFTH THIRD BANCORP	$857,895	0.2%	-5%	63.2
81	$MCO	MOODYS CORP /DE/	$845,602	0.2%	+0%	79.1
82	—	GOLDMAN SACHS ETF TR - S&P 500 PREMIUM	$832,892	0.2%	+1%	—
83	$IBM	INTERNATIONAL BUSINESS MACHINES CORP	$827,320	0.2%	+11%	70
84	$DKS	DICK'S SPORTING GOODS, INC.	$807,217	0.2%	+0%	63
85	$CB	Chubb Ltd	$791,880	0.2%	+1%	—
86	—	DIMENSIONAL ETF TRUST - EMGR CRE EQT MNG	$777,321	0.2%	+6%	—
87	$AMAT	APPLIED MATERIALS INC /DE	$771,441	0.2%	+4%	72.3
88	$LMT	LOCKHEED MARTIN CORP	$764,190	0.2%	-4%	65.6
89	$COIN	Coinbase Global, Inc.	$760,919	0.2%	-1%	44.8
90	$MMM	3M CO	$747,862	0.2%	-0%	64.9
91	$GS	GOLDMAN SACHS GROUP INC	$725,986	0.2%	+2%	73.5
92	$ABT	ABBOTT LABORATORIES	$651,241	0.2%	+5%	65.5
93	$ACN	Accenture plc	$645,719	0.2%	+16%	—
94	$SBUX	STARBUCKS CORP	$628,469	0.2%	+0%	58.2
95	$DLR	DIGITAL REALTY TRUST, INC.	$613,625	0.1%	+0%	72.8
96	$VZ	VERIZON COMMUNICATIONS INC	$610,447	0.1%	-11%	65.8
97	$DIS	Walt Disney Co	$586,386	0.1%	+1%	60.1
98	$GD	GENERAL DYNAMICS CORP	$580,575	0.1%	-5%	68.7
99	$PFE	PFIZER INC	$573,176	0.1%	-1%	62
100	—	VANGUARD INDEX FDS - SMALL CP ETF	$560,674	0.1%	-4%	—
101	$BAC	BANK OF AMERICA CORP /DE/	$549,857	0.1%	+5%	67.6
102	$GLW	CORNING INC /NY	$534,870	0.1%	+16%	73.7
103	$WM	WASTE MANAGEMENT INC	$532,954	0.1%	-1%	67.6
104	—	RBB FUND TRUST - FIRS EAGL OV ETF	$496,086	0.1%	+0%	—
105	$DUK	Duke Energy CORP	$478,431	0.1%	+4%	56.4
106	—	VANGUARD INDEX FDS - SM CP VAL ETF	$474,766	0.1%	+0%	—
107	$BLK	BlackRock, Inc.	$474,049	0.1%	+2%	70
108	$NZF	Nuveen Municipal Credit Income Fund	$469,274	0.1%	+0%	—
109	$TMO	THERMO FISHER SCIENTIFIC INC.	$465,763	0.1%	+2%	65.1
110	—	VANGUARD STAR FDS - VG TL INTL STK F	$452,952	0.1%	-2%	—
111	—	VANGUARD SCOTTSDALE FDS - INTER TERM TREAS	$451,256	0.1%	NEW	—
112	—	DIMENSIONAL ETF TRUST - US HIGH PROF ETF	$446,980	0.1%	+0%	—
113	$QXO	QXO, Inc.	$446,947	0.1%	+21%	49
114	$SRCE	1ST SOURCE CORP	$422,258	0.1%	-34%	60.6
115	$NVS	NOVARTIS AG	$418,442	0.1%	-0%	—
116	$ETX	Eaton Vance Municipal Income 2028 Term Trust	$410,156	0.1%	+0%	—
117	$APD	Air Products & Chemicals, Inc.	$408,400	0.1%	-0%	46.4
118	$BXSL	Blackstone Secured Lending Fund	$407,739	0.1%	-23%	—
119	$UNH	UNITEDHEALTH GROUP INC	$401,083	0.1%	+7%	62.7
120	$LRCX	LAM RESEARCH CORP	$399,097	0.1%	NEW	79.4
121	$GE	GENERAL ELECTRIC CO	$388,679	0.1%	+6%	73.8
122	$WELL	WELLTOWER INC.	$384,487	0.1%	+2%	59.8
123	—	J P MORGAN EXCHANGE TRADED F - HEDG EQU LAD ETF	$380,475	0.1%	+0%	—
124	$TEL	TE Connectivity plc	$376,003	0.1%	-2%	—
125	$SSNC	SS&C Technologies Holdings Inc	$374,348	0.1%	-15%	68.2
126	—	SPDR SERIES TRUST - ST STR SP500DIV	$371,995	0.1%	+0%	—
127	$MRSH	MARSH & MCLENNAN COMPANIES, INC.	$363,341	0.1%	-1%	66.2
128	$ETN	Eaton Corp plc	$363,054	0.1%	+1%	—
129	—	ISHARES TR - MSCI EAFE ETF	$354,854	0.1%	NEW	—
130	$T	AT&T INC.	$354,447	0.1%	-2%	65.7
131	—	J P MORGAN EXCHANGE TRADED F - BETABULDRS JAPAN	$354,108	0.1%	NEW	—
132	$ICE	Intercontinental Exchange, Inc.	$353,695	0.1%	-5%	73.7
133	$IVZ	Invesco Ltd.	$345,090	0.1%	-18%	—
134	—	ISHARES TR - 0-5 YR TIPS ETF	$342,943	0.1%	+2%	—
135	$VEEV	VEEVA SYSTEMS INC	$335,418	0.1%	-6%	77.6
136	$EMR	EMERSON ELECTRIC CO	$323,233	0.1%	+1%	65.3
137	—	VANGUARD BD INDEX FDS - TOTAL BND MRKT	$321,258	0.1%	+1%	—
138	$GEV	GE Vernova Inc.	$319,562	0.1%	+5%	81.1
139	—	SCHWAB STRATEGIC TR - EMRG MKTEQ ETF	$319,098	0.1%	-0%	—
140	$BMY	BRISTOL MYERS SQUIBB CO	$314,432	0.1%	-1%	70.4
141	—	VANGUARD MALVERN FDS - STRM INFPROIDX	$313,134	0.1%	+0%	—
142	—	VANGUARD INTL EQUITY INDEX F - FTSE EMR MKT ETF	$297,614	0.1%	+0%	—
143	—	PIMCO ETF TR - MTG BKD SECS ACT	$296,280	0.1%	+0%	—
144	—	VANGUARD INDEX FDS - REAL ESTATE ETF	$285,806	0.1%	+1%	—
145	$GXO	GXO Logistics, Inc.	$282,551	0.1%	+0%	61.2
146	$CCZ	COMCAST CORP	$279,354	0.1%	-6%	59.5
147	$U	Unity Software Inc.	$279,227	0.1%	+0%	38.9
148	$CMI	CUMMINS INC	$276,012	0.1%	-14%	58.1
149	$CL	COLGATE PALMOLIVE CO	$272,381	0.1%	+5%	61.3
150	—	ISHARES TR - CORE DIVID ETF	$271,040	0.1%	+0%	—