BD
Black Diamond Financial, LLC 13F Filing (Q2 2026) — Top Positions & Stock Picks
Black Diamond Financial, LLCCIK: 0001759236
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$1.1B
Reporting period: 2026-06-30 · Number of holdings: 198
Black Diamond Financial, LLC disclosed 198 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.1B and a quarterly turnover rate of 22.5%.
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Personality snowflake
- Concentration
- 15.08
- Portfolio Stability
- 22.5
- Momentum
- 100
- Sector conviction
- 52.66
- Diversification
- 100
- Sizing Uniformity
- 74.51
Black Diamond Financial, LLC's disclosed holdings carry a Herfindahl concentration index of 0.038 — mathematically equivalent to about 27 equally-sized positions, well below its 198 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.55), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 7% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SCHG
+41.3% $23.5M
Add VTI
+128.2% $12.6M
Trim MGV
+2.7% $16.9M
Add MGC
+33.8% $14.5M
Trim AGG
+5.6% $2.3M
Trim SPTI
+5.5% $1.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MGV | Vanguard Mega Cap Value ETF | ETF-Other | 10.91% | -0.75% | +2.71% | |
| 2 | MGK | Vanguard Mega Cap Growth ETF | ETF-Other | 8.50% | +0.14% | +426.12% | |
| 3 | SCHV | Schwab US Large-cap Value | ETF-Other | 5.40% | +0.70% | +24.69% | |
| 4 | SCHG | Schwab US Large-cap Growth | ETF-Other | 5.31% | +1.30% | +41.29% | |
| 5 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 4.14% | -0.73% | +5.57% | |
| 6 | SPTI | Ss Spdr P Int Term Tsy ETF | ETF-Other | 3.93% | -0.72% | +5.48% | |
| 7 | MGC | Vanguard Mega Cap ETF | ETF-Other | 3.62% | +0.73% | +33.81% | |
| 8 | VUG | Vanguard Growth ETF | ETF-Other | 3.05% | -0.18% | +491.80% | |
| 9 | SCHF | Schwab Intl Equity ETF | ETF-Other | 2.89% | -0.14% | +5.45% | |
| 10 | VOT | Vanguard Mid-cap Growth ETF | ETF-Other | 2.44% | +0.11% | +8.80% | |
| 11 | LIND | Lindblad Expeditions Holding | Stock-Other | 2.39% | +0.37% | -10.15% | |
| 12 | FREL | Fidelity Msci Rl Est Indx | ETF-Other | 2.32% | -0.11% | +8.47% | |
| 13 | IGIB | Ishares 5-10y Inv Grade CORP | ETF-Corp Bonds | 2.07% | -0.35% | +5.78% | |
| 14 | SCHX | Schwab US Large-cap ETF | ETF-Other | 2.03% | -0.17% | -0.48% | |
| 15 | IMCV | Ishares Morningstar Mid-cap | ETF-Other | 1.98% | -0.03% | +13.11% | |
| 16 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 1.79% | +0.95% | +128.24% | |
| 17 | SCHO | Schwab Short-term US Treas | ETF-Other | 1.75% | -0.16% | +13.68% | |
| 18 | VTV | Vanguard Value ETF | ETF-Other | 1.73% | -0.20% | -0.01% | |
| 19 | IGSB | Ishares 1-5y Inv Grade CORP | ETF-Other | 1.70% | -0.24% | +9.05% | |
| 20 | MUB | Ishares National Muni Bond E | ETF-Other | 1.69% | -0.26% | +5.52% | |
| 21 | VBR | Vanguard Small-cap Value ETF | ETF-Other | 1.67% | -0.09% | +5.42% | |
| 22 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 1.35% | +0.07% | +9.61% | |
| 23 | VO | Vanguard Mid-cap ETF | ETF-Other | 1.32% | -0.03% | +331.24% | |
| 24 | VV | Vanguard Large-cap ETF | ETF-Other | 1.18% | +0.56% | +103.71% | |
| 25 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 1.17% | -0.13% | +0.29% | |
| 26 | VB | Vanguard Small-cap ETF | ETF-Other | 1.16% | +0.14% | +21.20% | |
| 27 | ISCG | Ishares Morningstar Small-ca | ETF-Other | 1.11% | +0.06% | +9.47% | |
| 28 | SCHM | Schwab US Mid Cap ETF | ETF-Other | 1.05% | +0.15% | +21.08% | |
| 29 | AAPL | Apple Inc | Stock-Tech | 0.96% | -0.08% | +0.48% | |
| 30 | VBK | Vanguard Small-cap Grwth ETF | ETF-Other | 0.93% | +0.09% | +13.10% | |
| 31 | SCHA | Schwab US Small-cap ETF | ETF-Other | 0.74% | — | -0.68% | |
| 32 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.70% | -0.07% | -2.17% | |
| 33 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.67% | -0.16% | -8.95% | |
| 34 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.62% | -0.09% | -5.59% | |
| 35 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 0.58% | -0.04% | +3.76% | |
| 36 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.56% | +0.14% | +45.42% | |
| 37 | VOE | Vanguard Mid-cap Value ETF | ETF-Other | 0.55% | -0.07% | +1.25% | |
| 38 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.53% | -0.02% | -5.91% | |
| 39 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 0.46% | -0.13% | -3.47% | |
| 40 | VNQ | Vanguard Real Estate ETF | ETF-Other | 0.45% | -0.03% | +7.63% | |
| 41 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 0.44% | +0.27% | +192.87% | |
| 42 | IMCG | Ishares Morningstar Mid-cap | ETF-Other | 0.37% | — | +0.86% | |
| 43 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.36% | -0.01% | -0.28% | |
| 44 | MSFT | Microsoft CORP | Stock-Tech | 0.35% | -0.08% | +1.05% | |
| 45 | SDY | Ss Spdr S&p Dividend ETF | ETF-Other | 0.34% | -0.11% | -9.94% | |
| 46 | NVDA | Nvidia CORP | Stock-Tech | 0.33% | -0.04% | -3.38% | |
| 47 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.30% | +0.01% | +4.37% | |
| 48 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 0.30% | -0.01% | +2.33% | |
| 49 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.29% | -0.02% | +0.67% | |
| 50 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.27% | -0.03% | -0.06% |
1–50 of 198
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q3 2026
+2.9%
Performance Last 4 Quarters
+19.7%
- Stdev
- +11.7%
- Beta
- +0.83
- Alpha
- -0.1%
- Max Drawdown
- -6.8%
- Annualized Perf
- +17.1%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.65
- Stutzer
- +0.41
- Treynor
- +0.2
- Sterling
- +1.11
- Calmar
- +2.52
- Information Ratio
- -0.68
- Tracking Error
- +5.1%
- Stdev Down
- +6.2%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +32%
- Worst 12 Months
- +6.7%
- Efficiency Ratio
- +0.55
- Sharpe
- +1.42
- Stdev Sectors
- +8.8%
- Skewness
- -0.24
- Kurtosis
- -0.31
- Upside Potential
- +4.25
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 198 | $1.1B | 23 | ||
| 2026 Q1 | 185 | $916.5M | 13 | ||
| 2025 Q4 | 176 | $948.6M | 8 | ||
| 2025 Q3 | 161 | $892.5M | 32 | ||
| 2025 Q2 | 144 | $643.9M | 0 | ||
| 2025 Q1 | 146 | $665.9M | 100 | ||
| 2024 Q4 | 146 | $667.3M | 0 | ||
| 2024 Q3 | 145 | $589.1M | 0 | ||
| 2024 Q2 | 139 | $517.9M | 0 | ||
| 2024 Q1 | 115 | $370.0M | 0 | ||
| 2023 Q4 | 116 | $370.0M | 0 | ||
| 2023 Q3 | 111 | $324.9M | 0 | ||
| 2023 Q2 | 114 | $337.8M | 0 | ||
| 2023 Q1 | 117 | $304.6M | 0 | ||
| 2022 Q4 | 111 | $276.6M | 0 | ||
| 2022 Q3 | 103 | $248.2M | 0 | ||
| 2022 Q2 | 114 | $253.9M | 0 | ||
| 2022 Q1 | 127 | $316.8M | 0 | ||
| 2021 Q4 | 96 | $296.9M | 0 | ||
| 2021 Q3 | 77 | $208.2M | 0 | ||
| 2021 Q2 | 86 | $256.0M | 100 | ||
| 2021 Q1 | 85 | $235.7M | 10 | ||
| 2020 Q4 | 78 | $217.9M | 21 | ||
| 2020 Q3 | 75 | $178.4M | 19 | ||
| 2020 Q2 | 69 | $153.2M | 40 | ||
| 2020 Q1 | 72 | $131.8M | 35 | ||
| 2019 Q4 | 65 | $138.1M | 14 | ||
| 2019 Q3 | 71 | $135.6M | 16 | ||
| 2019 Q2 | 57 | $117.3M | 7 | ||
| 2019 Q1 | 53 | $111.8M | 27 | ||
| 2018 Q4 | 64 | $127.0M | — |
Holding changes this quarter
Black Diamond Financial, LLC's most significant position changes for 2026-06-30: New buy: T Rowe Price Group Inc (TROW); New buy: Tamboran Resources CORP (TBN); New buy: Vanguard Short-term Treasury (VGSH); New buy: Seagate Technology Holdings plc (STX); Sold out: Honeywell International Inc (HON).
Showing top 200 changes by size (of 205 total)
1–50 of 200
Filing History
FAQ
What is Black Diamond Financial, LLC and what type of investor is it?
Black Diamond Financial, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.1B, spread across 198 disclosed positions.
What are Black Diamond Financial, LLC's largest equity positions?
Based on the latest 13F filing, Black Diamond Financial, LLC's top holdings by market value are:
1. Vanguard Mega Cap Value ETF (MGV) — $123.8M (10.9%)
2. Vanguard Mega Cap Growth ETF (MGK) — $96.4M (8.5%)
3. Schwab US Large-cap Value (SCHV) — $61.2M (5.4%)
4. Schwab US Large-cap Growth (SCHG) — $60.3M (5.3%)
5. Ishares Core U.s. Aggregate (AGG) — $47.0M (4.1%)
What changes did Black Diamond Financial, LLC make in its most recent portfolio filing?
In the latest reported quarter, Black Diamond Financial, LLC made 177 notable position adjustments: 20 new positions were initiated, 82 existing holdings were added to, 68 positions were partially reduced, and 7 were completely exited. The largest of these moves: New buy: T Rowe Price Group Inc (TROW); New buy: Tamboran Resources CORP (TBN); New buy: Vanguard Short-term Treasury (VGSH); New buy: Seagate Technology Holdings plc (STX); Sold out: Honeywell International Inc (HON)
What sectors does Black Diamond Financial, LLC focus on?
Black Diamond Financial, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 32.9%
• Financials: 14.7%
• Communication Services: 11.6%
• Industrials: 10.8%
• Health Care: 10.4%
• Consumer Discretionary: 7.7%
Investment Profile
Black Diamond Financial, LLC returned an annualized 17.1% over the trailing 36 months — underperforming the S&P 500 by 0.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.83 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 32.9% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 23 over the past 4 quarters — a shift toward more active trading.
It has added to its SCHV position over the past two quarters (+$20.8M, now $61.2M), while trimming VCSH over the same stretch (-$667.1K, still holding $5.2M).
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