Black Diamond Financial, LLC
Registered adviserCIK
1759236
Location
TOWSON, MD
Portfolio Value
Mid
$1,116,709,898
Diversification
Moderately concentrated
Filing Date
Global Rank
#2,322
/ 8,815
▲ 594
Top Industry
Travel Services
24.5%
Period ended 4 months ago
Filed Aug 4, 2026 · 3mo
26 quarters · since Mar 2020
Regulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
Holder type
Registered adviser
Form ADV roster, Oct 1, 2026
Regulatory AUM
$1,370,212,598
Main clients
Individuals and high net worth
(82% of AUM)
Private funds
3 funds
· Private equity funds
Focus by fund count, roster of Oct 1, 2026
$5,962,641 gross assets
Private funds on Schedule D 7.B.(1)
As filed Oct 1, 2024; SEC's bulk Form ADV archive ends with 2024 filings.
$890,000 gross assets in 1 fund
Private equity funds
$890,000
(1)
Form ADV history
Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Apr 2026 to Oct 2026 | $1,370,212,598 | Individuals and high net worth (82%) |
| Apr 2025 to Mar 2026 | $1,043,675,393 | Individuals and high net worth (82%) |
| Apr 2024 to Mar 2025 | $701,427,211 | Individuals and high net worth (83%) |
| Nov 2023 to Mar 2024 | $545,885,247 | Individuals and high net worth (83%) |
| May 2023 to Oct 2023 | $545,885,247 | Individuals and high net worth (83%) |
| Apr 2023 | $545,885,247 | Individuals and high net worth (83%) |
4 earlier changes not shown.
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.
Style
Concentrated
The top 10 positions are 88.2% of the book (60%+)
Turnover
Low turnover
9.7% over the last four quarters (under 30%)
Horizon
Long horizon
Value-weighted holding period 21.6 quarters (12+), a floor since 67.4% of the book was already held when coverage starts
Closest benchmark: every 13F filer's combined book, active share 84.2%; sector active share 77.6% against the combined 13F book's sector weights.
Over time 26 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
196 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Top Position
24.0%
+0.2 pts
Top 5
80.5%
+3.6 pts
Top 10
88.2%
+3.3 pts
HHI
1,528
Moderately concentrated−41
Portfolio Trend
26 quarters · across all stocks
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Unclassified | 90.1% | $1,006,072,985 |
| Consumer Cyclical | 2.9% | $32,867,607 |
| Technology | 2.2% | $24,889,230 |
| Financial Services | 1.5% | $16,986,095 |
| Healthcare | 0.9% | $9,675,914 |
| Communication Services | 0.8% | $8,688,833 |
| Industrials | 0.7% | $8,072,410 |
| Utilities | 0.3% | $3,146,617 |
| Consumer Defensive | 0.3% | $3,144,215 |
| Energy | 0.2% | $2,153,844 |
| Real Estate | 0.1% | $788,953 |
| Basic Materials | 0.0% | $223,195 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| MGK | VANGUARD MEGA CAP GROWTH INDEX FUND | +888,345 | 1,096,819 | $96,421,358 | |
| SCHG | Schwab U.S. Large-Cap Growth ETF | +520,289 | 1,780,462 | $60,250,834 | |
| SCHV | Schwab U.S. Large-Cap Value ETF | +348,437 | 1,759,449 | $61,246,419 | |
| VUG | VANGUARD GROWTH INDEX FUND | +333,784 | 401,654 | $34,598,475 | |
| VO | VANGUARD MID-CAP INDEX FUND | +142,930 | 186,080 | $14,992,465 | |
| SCHO | Schwab Short-Term U.S. Treasury ETF | +98,896 | 821,997 | $19,843,007 | |
| SPTI | State Street(R) SPDR(R) Portfolio Intermediate Term Treasury ETF | +81,546 | 1,568,643 | $44,533,774 | |
| FREL | Fidelity MSCI Real Estate Index ETF | +70,035 | 897,336 | $26,291,944 | |
| SCHF | Schwab International Equity ETF | +61,255 | 1,184,331 | $32,805,968 | |
| SCHM | Schwab U.S. Mid-Cap ETF | +56,282 | 323,221 | $11,917,158 | |
| MGC | VANGUARD MEGA CAP INDEX FUND | +37,899 | 149,997 | $41,043,679 | |
| VTI | VANGUARD TOTAL STOCK MARKET INDEX FUND | +30,883 | 54,965 | $20,339,248 | |
| IGSB | iShares 1-5 Year Investment Grade Corporate Bond ETF | +30,593 | 368,663 | $19,321,627 | |
| IMCV | iShares Morningstar Mid-Cap Value ETF | +28,475 | 245,612 | $22,444,024 | |
| AGG | iShares Core U.S. Aggregate Bond ETF | +25,037 | 474,608 | $46,976,699 | |
| PHYS | Sprott Physical Gold Trust | +24,394 | 67,602 | $2,039,552 | |
| IGIB | iShares 5-10 Year Investment Grade Corporate Bond ETF | +24,096 | 441,318 | $23,464,878 | |
| — | +23,460 | 29,325 | $803,798 | ||
| IJH | iShares Core S&P Mid-Cap ETF | +22,757 | 30,161 | $2,325,714 | |
| VGT | VANGUARD INFORMATION TECHNOLOGY INDEX FUND | +22,270 | 25,363 | $3,031,385 | |
| VYM | VANGUARD HIGH DIVIDEND YIELD INDEX FUND | +20,662 | 31,375 | $4,958,191 | |
| MGV | VANGUARD MEGA CAP VALUE INDEX FUND | +19,968 | 757,229 | $123,769,080 | |
| VV | VANGUARD LARGE-CAP INDEX FUND | +19,857 | 39,003 | $13,413,521 | |
| CORT | Corcept Therapeutics Inc | +16,998 | 24,198 | $2,104,016 | |
| ISCG | iShares Morningstar Small-Cap Growth ETF | +16,685 | 192,806 | $12,636,505 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| LIND | Lindblad Expeditions Holdings, Inc. | −108,398 | 959,964 | $27,109,383 | |
| PL | Planet Labs PBC | −57,202 | 20,274 | $671,677 | |
| VTEB | VANGUARD TAX-EXEMPT BOND INDEX FUND | −7,967 | 37,437 | $1,893,563 | |
| SCHX | Schwab U.S. Large-Cap ETF | −3,780 | 783,753 | $23,065,850 | |
| RSP | Victory Portfolios II | −3,529 | 35,915 | $7,641,634 | |
| SDY | State Street(R) SPDR(R) S&P(R) Dividend ETF | −2,827 | 25,615 | $3,898,090 | |
| VCSH | VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | −2,376 | 66,007 | $5,216,533 | |
| SCHA | Schwab U.S. Small-Cap ETF | −1,603 | 232,632 | $8,404,994 | |
| VTIP | VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND | −1,018 | 10,630 | $533,944 | |
| ROST | Ross Stores, Inc. | −956 | 1,061 | $225,833 | |
| BAC | Bank Of America Corp | −946 | 26,610 | $1,516,237 | |
| SMRI | Bushido Capital US Equity ETF | −709 | 8,926 | $366,198 | |
| NVDA | Nvidia Corp | −654 | 18,715 | $3,744,684 | |
| IVV | iShares Core S&P 500 ETF | −558 | 9,428 | $7,060,534 | |
| QQQ | Invesco Qqq Trust, Series 1 | −513 | 8,161 | $6,009,760 | |
| DIA | Spdr Dow Jones Industrial Average ETF Trust | −500 | 1,199 | $626,345 | |
| XLF | State Street Corp | −495 | 6,621 | $354,951 | |
| AVGO | Broadcom Inc. | −367 | 545 | $205,873 | |
| WFC | Wells Fargo & Company | −282 | 4,116 | $340,146 | |
| PLTR | Palantir Technologies Inc. | −267 | 7,852 | $916,092 | |
| VOO | VANGUARD 500 INDEX FUND | −257 | 11,568 | $7,945,018 | |
| RTX | RTX Corp | −256 | 2,848 | $540,351 | |
| EFAV | iShares MSCI EAFE Min Vol Factor ETF | −236 | 7,774 | $681,857 | |
| ISRG | Intuitive Surgical Inc | −210 | 543 | $215,940 | |
| V | Visa Inc. | −174 | 5,417 | $1,858,518 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
20 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| TROW | Price T Rowe Group Inc | 4,016 | $456,579 | |
| TBN | Tamboran Resources Corp | 13,500 | $438,885 | |
| VGSH | VANGUARD SHORT-TERM TREASURY INDEX FUND | 6,629 | $385,807 | |
| STX | Seagate Technology Holdings plc | 391 | $377,315 | |
| C | Citigroup Inc | 2,245 | $314,210 | |
| VCIT | VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 3,792 | $313,408 | |
| PM | Philip Morris International Inc. | 1,666 | $301,396 | |
| SCHD | Schwab U.S. Dividend Equity ETF | 8,418 | $266,934 | |
| — | 1,155 | $255,486 | ||
| GLW | Corning Inc | 980 | $250,321 | |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | 524 | $250,246 | |
| LRCX | Lam Research Corp | 565 | $244,831 | |
| PNC | Pnc Financial Services Group, Inc. | 976 | $240,310 | |
| ALRM | Alarm.com Holdings, Inc. | 5,050 | $235,936 | |
| AMAT | Applied Materials Inc | 325 | $234,975 | |
| IWO | iShares Russell 2000 Growth ETF | 571 | $224,951 | |
| QCOM | Qualcomm Inc | 1,213 | $224,150 | |
| NUE | Nucor Corp | 1,002 | $223,195 | |
| EFA | iShares MSCI EAFE ETF | 2,030 | $210,876 | |
| FCNCA | First Citizens Bancshares Inc | 99 | $205,998 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
7 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| HON | Honeywell International Inc | 1,524 | $344,469 | |
| NFLX | Netflix Inc | 2,336 | $224,606 | |
| SCHZ | Schwab U.S. Aggregate Bond ETF | 9,332 | $216,689 | |
| MCD | Mcdonalds Corp | 686 | $213,201 | |
| ILPT | Industrial Logistics Properties Trust | 10,000 | $56,800 | |
| MCHX | Marchex Inc | 20,000 | $31,000 | |
| DYAI | Dyadic International Inc | 19,331 | $15,851 | |
| No positions match the current search. | ||||
196 tracked positions ·
$1,116,709,898 total
· filing declares
198 positions · $1,134,038,212
· as of Jun 30, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 196 positions by value
· page 1 of 4
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| MGV |
VANGUARD MEGA CAP VALUE INDEX FUND
|
Added | 757,229 | $123,769,080 | 11.08% | |
| MGK |
VANGUARD MEGA CAP GROWTH INDEX FUND
|
Added | 1,096,819 | $96,421,358 | 8.63% | |
| SCHV |
Schwab U.S. Large-Cap Value ETF
|
Added | 1,759,449 | $61,246,419 | 5.48% | |
| SCHG |
Schwab U.S. Large-Cap Growth ETF
|
Added | 1,780,462 | $60,250,834 | 5.40% | |
| AGG |
iShares Core U.S. Aggregate Bond ETF
|
Added | 474,608 | $46,976,699 | 4.21% | |
| SPTI |
State Street(R) SPDR(R) Portfolio Intermediate Term Treasury ETF
|
Added | 1,568,643 | $44,533,774 | 3.99% | |
| MGC |
VANGUARD MEGA CAP INDEX FUND
|
Added | 149,997 | $41,043,679 | 3.68% | |
| VUG |
VANGUARD GROWTH INDEX FUND
|
Added | 401,654 | $34,598,475 | 3.10% | |
| SCHF |
Schwab International Equity ETF
|
Added | 1,184,331 | $32,805,968 | 2.94% | |
| VOT |
VANGUARD MID-CAP GROWTH INDEX FUND
|
Added | 90,277 | $27,651,845 | 2.48% | |
| LIND |
Lindblad Expeditions Holdings, Inc.
Consumer Cyclical
|
Reduced | 959,964 | $27,109,383 | 2.43% | |
| FREL |
Fidelity MSCI Real Estate Index ETF
|
Added | 897,336 | $26,291,944 | 2.35% | |
| IGIB |
iShares 5-10 Year Investment Grade Corporate Bond ETF
|
Added | 441,318 | $23,464,878 | 2.10% | |
| SCHX |
Schwab U.S. Large-Cap ETF
|
Reduced | 783,753 | $23,065,850 | 2.07% | |
| IMCV |
iShares Morningstar Mid-Cap Value ETF
|
Added | 245,612 | $22,444,024 | 2.01% | |
| VTI |
VANGUARD TOTAL STOCK MARKET INDEX FUND
|
Added | 54,965 | $20,339,248 | 1.82% | |
| SCHO |
Schwab Short-Term U.S. Treasury ETF
|
Added | 821,997 | $19,843,007 | 1.78% | |
| VTV |
VANGUARD VALUE INDEX FUND
|
Reduced | 90,032 | $19,620,673 | 1.76% | |
| IGSB |
iShares 1-5 Year Investment Grade Corporate Bond ETF
|
Added | 368,663 | $19,321,627 | 1.73% | |
| MUB |
iShares National Muni Bond ETF
|
Added | 177,822 | $19,137,203 | 1.71% | |
| VBR |
VANGUARD SMALL-CAP VALUE INDEX FUND
|
Added | 78,049 | $18,965,126 | 1.70% | |
| VO |
VANGUARD MID-CAP INDEX FUND
|
Added | 186,080 | $14,992,465 | 1.34% | |
| VV |
VANGUARD LARGE-CAP INDEX FUND
|
Added | 39,003 | $13,413,521 | 1.20% | |
| VEA |
Vanguard FTSE Developed Markets ETF
|
Added | 185,940 | $13,248,225 | 1.19% | |
| VB |
Vanguard Index Funds
|
Added | 43,280 | $13,119,033 | 1.17% | |
| ISCG |
iShares Morningstar Small-Cap Growth ETF
|
Added | 192,806 | $12,636,505 | 1.13% | |
| SCHM |
Schwab U.S. Mid-Cap ETF
|
Added | 323,221 | $11,917,158 | 1.07% | |
| AAPL |
Apple Inc.
Technology
|
Added | 37,747 | $10,922,471 | 0.98% | |
| VBK |
VANGUARD SMALL-CAP GROWTH INDEX FUND
|
Added | 28,893 | $10,566,170 | 0.95% | |
| SCHA |
Schwab U.S. Small-Cap ETF
|
Reduced | 232,632 | $8,404,994 | 0.75% | |
| VOO |
VANGUARD 500 INDEX FUND
|
Reduced | 11,568 | $7,945,018 | 0.71% | |
| RSP |
Victory Portfolios II
|
Reduced | 35,915 | $7,641,634 | 0.68% | |
| IVV |
iShares Core S&P 500 ETF
|
Reduced | 9,428 | $7,060,534 | 0.63% | |
| VEU |
Vanguard International Equity Index Funds
|
Added | 78,583 | $6,581,326 | 0.59% | |
| SPY |
Spdr S&P 500 ETF Trust
|
Added | 8,548 | $6,383,389 | 0.57% | |
| VOE |
VANGUARD MID-CAP VALUE INDEX FUND
|
Added | 31,413 | $6,207,208 | 0.56% | |
| QQQ |
Invesco Qqq Trust, Series 1
|
Reduced | 8,161 | $6,009,760 | 0.54% | |
| VCSH |
VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND
|
Reduced | 66,007 | $5,216,533 | 0.47% | |
| VNQ |
VANGUARD REAL ESTATE INDEX FUND
|
Added | 53,345 | $5,144,058 | 0.46% | |
| VYM |
VANGUARD HIGH DIVIDEND YIELD INDEX FUND
|
Added | 31,375 | $4,958,191 | 0.44% | |
| IMCG |
iShares Morningstar Mid-Cap Growth ETF
|
Added | 42,962 | $4,223,164 | 0.38% | |
| GOOG |
Alphabet Inc.
Communication Services
|
Reduced | 11,652 | $4,117,001 | 0.37% | |
| MSFT |
Microsoft Corp
Technology
|
Added | 10,753 | $4,011,084 | 0.36% | |
| SDY |
State Street(R) SPDR(R) S&P(R) Dividend ETF
|
Reduced | 25,615 | $3,898,090 | 0.35% | |
| NVDA |
Nvidia Corp
Technology
|
Reduced | 18,715 | $3,744,684 | 0.34% | |
| GOOGL |
Alphabet Inc.
Communication Services
|
Added | 9,639 | $3,444,689 | 0.31% | |
| IJR |
iShares Core S&P Small-Cap ETF
|
Added | 23,107 | $3,426,999 | 0.31% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Added | 14,034 | $3,344,863 | 0.30% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Reduced | 9,300 | $3,044,169 | 0.27% | |
| VGT |
VANGUARD INFORMATION TECHNOLOGY INDEX FUND
|
Added | 25,363 | $3,031,385 | 0.27% |
Showing the top 50 of 196 positions. Create a free account to see every position, past quarters, search, filters and CSV export.
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.