# Black Diamond Financial, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1759236. Source: https://holderbook.com/funds/1759236-black-diamond-financial-llc/

- Reported value: $1.1B
- Positions: 198
- Weight of the ten largest: 50.2%
- Filed: 2026-08-04

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| VANGUARD WORLD FD | [MGV](https://holderbook.com/stocks/MGV/) | $123.8M | 757,229 | 10.9% | 31 |
| VANGUARD WORLD FD | [MGK](https://holderbook.com/stocks/MGK/) | $96.4M | 1,096,819 | 8.5% | 31 |
| SCHWAB STRATEGIC TR | [SCHV](https://holderbook.com/stocks/SCHV/) | $61.2M | 1,759,449 | 5.4% | 31 |
| SCHWAB STRATEGIC TR | [SCHG](https://holderbook.com/stocks/SCHG/) | $60.3M | 1,780,462 | 5.3% | 31 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $47.0M | 474,608 | 4.1% | 9 |
| SPDR SERIES TRUST | [SPTI](https://holderbook.com/stocks/SPTI/) | $44.5M | 1,568,643 | 3.9% | 11 |
| VANGUARD WORLD FD | [MGC](https://holderbook.com/stocks/MGC/) | $41.0M | 149,997 | 3.6% | 31 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $34.6M | 401,654 | 3.1% | 31 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $32.8M | 1,184,331 | 2.9% | 31 |
| VANGUARD INDEX FDS | [VOT](https://holderbook.com/stocks/VOT/) | $27.7M | 90,277 | 2.4% | 31 |
| LINDBLAD EXPEDITIONS HLDGS I | [LIND](https://holderbook.com/stocks/LIND/) | $27.1M | 959,964 | 2.4% | 14 |
| FIDELITY COVINGTON TRUST | [FREL](https://holderbook.com/stocks/FREL/) | $26.3M | 897,336 | 2.3% | 23 |
| ISHARES TR | [IGIB](https://holderbook.com/stocks/IGIB/) | $23.5M | 441,318 | 2.1% | 9 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $23.1M | 783,753 | 2.0% | 31 |
| ISHARES TR | [IMCV](https://holderbook.com/stocks/IMCV/) | $22.4M | 245,612 | 2.0% | 19 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $20.3M | 54,965 | 1.8% | 31 |
| SCHWAB STRATEGIC TR | [SCHO](https://holderbook.com/stocks/SCHO/) | $19.8M | 821,997 | 1.7% | 31 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $19.6M | 90,032 | 1.7% | 31 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $19.3M | 368,663 | 1.7% | 7 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $19.1M | 177,822 | 1.7% | 9 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $19.0M | 78,049 | 1.7% | 31 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $15.3M | 184,395 | 1.3% | 31 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $15.0M | 186,080 | 1.3% | 31 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $13.4M | 39,003 | 1.2% | 31 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $13.2M | 185,940 | 1.2% | 31 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $13.1M | 43,280 | 1.2% | 31 |
| ISHARES TR | [ISCG](https://holderbook.com/stocks/ISCG/) | $12.6M | 192,806 | 1.1% | 19 |
| SCHWAB STRATEGIC TR | [SCHM](https://holderbook.com/stocks/SCHM/) | $11.9M | 323,221 | 1.1% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $10.9M | 37,747 | 1.0% | 31 |
| VANGUARD INDEX FDS | [VBK](https://holderbook.com/stocks/VBK/) | $10.6M | 28,893 | 0.9% | 31 |
| SCHWAB STRATEGIC TR | [SCHA](https://holderbook.com/stocks/SCHA/) | $8.4M | 232,632 | 0.7% | 31 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $7.9M | 11,568 | 0.7% | 31 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $7.6M | 35,915 | 0.7% | 19 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $7.1M | 9,428 | 0.6% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $6.6M | 78,583 | 0.6% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $6.4M | 8,548 | 0.6% | 31 |
| VANGUARD INDEX FDS | [VOE](https://holderbook.com/stocks/VOE/) | $6.2M | 31,413 | 0.5% | 31 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $6.0M | 8,161 | 0.5% | 2 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $5.2M | 66,007 | 0.5% | 31 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $5.1M | 53,345 | 0.5% | 31 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $5.0M | 31,375 | 0.4% | 15 |
| ISHARES TR | [IMCG](https://holderbook.com/stocks/IMCG/) | $4.2M | 42,962 | 0.4% | 18 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $4.1M | 11,652 | 0.4% | 28 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $4.0M | 10,753 | 0.4% | 30 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $3.9M | 25,615 | 0.3% | 18 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.7M | 18,715 | 0.3% | 14 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $3.4M | 9,639 | 0.3% | 23 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $3.4M | 23,107 | 0.3% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.3M | 14,034 | 0.3% | 27 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $3.0M | 9,300 | 0.3% | 29 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $3.0M | 25,363 | 0.3% | 24 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $3.0M | 15,884 | 0.3% | 18 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $2.7M | 5,421 | 0.2% | 31 |
| SCHWAB STRATEGIC TR | [SCHH](https://holderbook.com/stocks/SCHH/) | $2.5M | 105,377 | 0.2% | 31 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $2.5M | 10,416 | 0.2% | 24 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $2.3M | 30,161 | 0.2% | 9 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $2.2M | 22,441 | 0.2% | 31 |
| CORCEPT THERAPEUTICS INC | [CORT](https://holderbook.com/stocks/CORT/) | $2.1M | 24,198 | 0.2% | 8 |
| SPROTT ASSET MANAGEMENT LP | [PHYS](https://holderbook.com/stocks/PHYS/) | $2.0M | 67,602 | 0.2% | 2 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $2.0M | 3,898 | 0.2% | 15 |
| CAPRICOR THERAPEUTICS INC | [CAPR](https://holderbook.com/stocks/CAPR/) | $1.9M | 79,077 | 0.2% | 7 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $1.9M | 37,437 | 0.2% | 31 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $1.9M | 37,445 | 0.2% | 4 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.9M | 5,417 | 0.2% | 15 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $1.8M | 18,447 | 0.2% | 31 |
| ISHARES TR | [ISCV](https://holderbook.com/stocks/ISCV/) | $1.7M | 21,412 | 0.1% | 17 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $1.7M | 4,493 | 0.1% | 11 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $1.6M | 26,726 | 0.1% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.5M | 26,610 | 0.1% | 18 |
| SSGA ACTIVE ETF TR | [SRLN](https://holderbook.com/stocks/SRLN/) | $1.5M | 37,376 | 0.1% | 19 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $1.5M | 1,232 | 0.1% | 19 |
| CONSTELLATION ENERGY CORP | [CEG](https://holderbook.com/stocks/CEG/) | $1.4M | 5,822 | 0.1% | 18 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.4M | 1,220 | 0.1% | 3 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $1.4M | 11,232 | 0.1% | 11 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $1.3M | 1,218 | 0.1% | 9 |
| VANGUARD WORLD FD | [VFH](https://holderbook.com/stocks/VFH/) | $1.2M | 8,973 | 0.1% | 22 |
| BBH TR | [BBHL](https://holderbook.com/stocks/BBHL/) | $1.2M | 67,548 | 0.1% | 3 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $1.1M | 1,514 | 0.1% | 18 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.1M | 2,001 | 0.1% | 14 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $1.1M | 1,511 | 0.1% | 4 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $981.9K | 1,396 | 0.1% | 18 |
| ISHARES TR | [SHV](https://holderbook.com/stocks/SHV/) | $960.4K | 8,703 | 0.1% | 12 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $942.7K | 6,895 | 0.1% | 22 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $916.1K | 7,852 | 0.1% | 4 |
| VANGUARD WORLD FD | [ESGV](https://holderbook.com/stocks/ESGV/) | $809.3K | 6,120 | 0.1% | 8 |
| ISHARES TR | [HDV](https://holderbook.com/stocks/HDV/) | $803.8K | 29,325 | 0.1% | 19 |
| KNIGHT-SWIFT TRANSN HLDGS IN | [KNX](https://holderbook.com/stocks/KNX/) | $803.0K | 10,312 | 0.1% | 9 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $772.4K | 4,659 | 0.1% | 9 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $754.1K | 806 | 0.1% | 12 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $751.3K | 14,509 | 0.1% | 4 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $725.3K | 9,605 | 0.1% | 21 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $723.0K | 15,211 | 0.1% | 18 |
| SPROTT ASSET MANAGEMENT LP | [PSLV](https://holderbook.com/stocks/PSLV/) | $719.6K | 38,137 | 0.1% | 2 |
| SPDR SERIES TRUST | [SPYG](https://holderbook.com/stocks/SPYG/) | $716.6K | 6,022 | 0.1% | 4 |
| EXELON CORP | [EXC](https://holderbook.com/stocks/EXC/) | $706.1K | 15,146 | 0.1% | 18 |
| ISHARES TR | [EFAV](https://holderbook.com/stocks/EFAV/) | $681.9K | 7,774 | 0.1% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $673.6K | 5,947 | 0.1% | 9 |
| PLANET LABS PBC | [PL](https://holderbook.com/stocks/PL/) | $671.7K | 20,274 | 0.1% | 2 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $665.9K | 22,994 | 0.1% | 23 |
| VANGUARD SCOTTSDALE FDS | [VONG](https://holderbook.com/stocks/VONG/) | $665.1K | 5,204 | 0.1% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +12.4% | +14.8% | -2.4% | 100% |
| Q1 2026 | -2.0% | -4.6% | +2.6% | 100% |
| Q4 2025 | +2.4% | +2.4% | +0.0% | 100% |
| Q3 2025 | +5.8% | +7.8% | -2.1% | 100% |
| Q2 2025 | +7.0% | +10.5% | -3.4% | 100% |
| Q1 2025 | -2.4% | -4.6% | +2.2% | 100% |
| Q4 2024 | +0.3% | +2.1% | -1.9% | 100% |
| Q3 2024 | +6.3% | +5.4% | +0.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.1B | 198 |
| Q1 2026 | $916.5M | 185 |
| Q4 2025 | $948.6M | 176 |
| Q3 2025 | $892.5M | 161 |
| Q2 2025 | $643.9M | 144 |
| Q1 2025 | $665.9M | 146 |
| Q4 2024 | $667.3M | 146 |
| Q3 2024 | $589.1M | 145 |
| Q2 2024 | $517.9M | 139 |
| Q1 2024 | $370.0M | 115 |
| Q4 2023 | $370.0M | 116 |
| Q3 2023 | $324.9M | 111 |