Black Diamond Financial, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 4, 2025), Black Diamond Financial, LLC reported 145 stock positions worth $667.3 million. Its top holding was Vngrd Mrgstr MG CP VL ETF-Ui (MGV) at 13.1% of the portfolio, followed by Vngrd Mrgstr MG CP GR ETF-Ui (MGK, 8.5%) and iShares Core U.S. Aggregate (AGG, 4.9%). Compared with Q3 2024, it opened 11 new positions, sold out of 10, added to 74 and reduced 36. The biggest buy was a new position in iShares 1-5Y Inv Grade (IGSB) and the biggest sale an exit from Invesco QQQ Trust Series 1 (QQQ).

Most Recent 13F
Q2 2026
Location
TOWSON, MD
CIK
0001759236
Portfolio Value
$667.3M (Q4 2024)
SEC Filing
0001759236-25-000001 ↗ filed Feb 4, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $370.0M Q1 2024 Q2 2024: $517.9M Q2 2024 Q3 2024: $589.1M Q3 2024 Q4 2024: $667.3M $667.3M Q4 2024 Q1 2025: $665.9M Q1 2025 Q2 2025: $643.9M Q2 2025 Q3 2025: $892.5M Q3 2025 Q4 2025: $948.6M Q4 2025 Q1 2026: $916.5M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 145 stocks · $667.3M
MGV Vngrd Mrgstr MG CP VL ETF-Ui 13.13% 701,296 $87.6M Add +1.6%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 8.46% 164,395 $56.5M Add +6.5%
AGG iShares Core U.S. Aggregate 4.94% 340,356 $33.0M Add +51.7%
SPTI SS SPDR P Int Term TSY ETF 4.86% 1,163,000 $32.4M Add +50.8%
SCHV Schwab US Large-Cap Value 4.50% 1,150,931 $30.0M Add +11.0%
SCHG Schwab US Large-Cap Growth 3.67% 879,837 $24.5M Add +15.3%
MGC Vngrd Mrngstr MG Cap ETF-Usd 3.15% 98,881 $21.0M Reduce -0.8%
VUG Vanguard Mrngstar GR ETF-Sui 2.86% 46,439 $19.1M Reduce -0.6%
SCHX Schwab US Large-Cap ETF 2.84% 818,192 $19.0M Reduce -0.8%
IGIB iShares 5-10Y Inv Grade Corp. 2.58% 333,608 $17.2M Add +61.3%
VOT Vngrd Mrngstr MC GRW ETF-Usd 2.49% 65,463 $16.6M Add +5.0%
SCHF Schwab Intl Equity ETF 2.32% 835,894 $15.5M Add +0.9%
FREL Fidelity MSCI RL Est Indx 2.14% 529,194 $14.3M Add +9.8%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.74% 44,042 $11.6M Reduce -0.3%
IGSB iShares 1-5Y Inv Grade Corp. 1.73% 222,699 $11.5M New
LIND Lindblad Expeditions Holding 1.67% 940,912 $11.2M Add +4.0%
SCHO Schwab Short-Term US Treas 1.66% 460,370 $11.1M Add +848.5%
MUB iShares National Muni Bond E 1.63% 102,064 $10.9M Add +58.6%
VBR Vngrd Mrngst SL-CP Val ETF-U 1.63% 54,868 $10.9M Add +4.9%
VTV Vanguard Mrngstr Val ETF-Aui 1.38% 54,235 $9.2M Add +1.5%
AAPL Apple Inc. 1.29% 34,318 $8.6M Add +14.6%
RSP Invesco S&P 500 Equal Weight 1.27% 48,534 $8.5M Reduce -6.5%
IMCV iShares Morningstar Mid-Cap 1.26% 113,392 $8.4M Add +8.8%
VB Vanguard Most SM-Cap ETF-Usd 1.21% 33,624 $8.1M Reduce -0.7%
VEA Vanguard Ftse Developed ETF 1.16% 161,503 $7.7M Add +9.7%
ISCG iShares Morningstar Small-Ca 1.11% 150,248 $7.4M Add +5.5%
SCHM Schwab US Mid Cap ETF 1.09% 263,445 $7.3M Reduce -0.3%
SCHA Schwab US Small-Cap ETF 1.09% 280,391 $7.3M Reduce -0.6%
IEMG iShares Core MSCI Emerging 1.00% 128,084 $6.7M Add +3.6%
VCSH Vanguard S/T Corp. Bond ETF 0.90% 77,193 $6.0M Reduce -12.3%
VTI VG Morningstar TS MKT ETF-US 0.85% 19,557 $5.7M Add +6.1%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.80% 19,725 $5.3M Add +0.0%
SDY SS SPDR S&P Dividend ETF 0.80% 40,267 $5.3M Reduce -6.7%
IVV iShares Core S&P 500 ETF 0.74% 8,353 $4.9M Add +46.5%
CTOS Custom Truck One Source Inc. 0.73% 1,012,247 $4.9M Reduce -29.1%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.71% 16,852 $4.7M Add +1.6%
VOO Vanguard S&P 500 ETF 0.67% 8,273 $4.5M Add +27.2%
VEU Vanguard Ftse All-World Ex-U 0.63% 73,311 $4.2M Reduce -1.2%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.61% 25,054 $4.1M Add +5.6%
VNQ Vanguard Real Estate ETF 0.60% 44,957 $4.0M Add +8.4%
BRK.B Berkshire Hathaway Inc. Class B 0.60% 8,791 $4.0M Add +79.8%
CAPR Capricor Therapeutics Inc. 0.57% 277,737 $3.8M New
IJR iShares Core S&P Small-Cap E 0.44% 25,240 $2.9M Reduce -1.6%
MSFT Microsoft Corp. 0.42% 6,644 $2.8M Add +3.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.42% 4,749 $2.8M Add +22.0%
NVDA Nvidia Corp. 0.39% 19,195 $2.6M Add +7.8%
IMCG iShares Morningstar Mid-Cap 0.38% 33,347 $2.5M Add +1.1%
SCHH Schwab US REIT ETF 0.37% 117,797 $2.5M Add +40.6%
AMZN Amazon.com Inc. 0.35% 10,625 $2.3M Add +3.8%
GOOG Alphabet Inc. Class C 0.29% 10,040 $1.9M Add +3.7%
VTEB Vanguard Tax-Exempt Bond ETF 0.28% 36,967 $1.9M No change
USMV iShares MSCI USA Min Vol Fac 0.27% 20,332 $1.8M No change
JPM JPMorgan Chase & Co. 0.27% 7,463 $1.8M Reduce -1.4%
XLK SS Technology Select Sector 0.26% 7,587 $1.8M No change
LLY Eli Lilly & Co. 0.26% 2,210 $1.7M Add +42.7%
SRLN SS Blackstone Sr Loan ETF 0.24% 38,736 $1.6M Reduce -5.3%
VIG Vanguard Dividend Apprec ETF 0.23% 7,960 $1.6M Add +1.9%
IEFA iShares Core MSCI Eafe ETF 0.21% 20,212 $1.4M Add +37.2%
CEG Constellation Energy 0.17% 5,129 $1.1M Add +0.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.17% 25,143 $1.1M Add +0.0%
GOOGL Alphabet Inc. Class A 0.17% 5,835 $1.1M Add +5.0%
VGT Vanguard Info Tech ETF 0.16% 1,728 $1.1M Reduce -7.1%
VWO Vanguard Ftse Emerging Marke 0.16% 23,843 $1.1M No change
PG The Procter & Gamble Co. 0.15% 6,161 $1.0M Add +74.8%
TSLA Tesla Inc. 0.15% 2,414 $975K Reduce -12.1%
GLD SPDR Gold Shares 0.13% 3,671 $889K Reduce -0.7%
MCK McKesson Corp. 0.13% 1,525 $869K No change
META Meta Platforms Inc. Class A 0.12% 1,379 $808K Add +7.8%
VTIP Vanguard Short-Term Tips 0.11% 15,476 $749K Reduce -6.5%
ISCV iShares Morningstar Small-Ca 0.11% 11,441 $725K Add +2.3%
PEP Pepsico Inc. 0.11% 4,670 $710K Add +6.5%
SYK Stryker Corp. 0.10% 1,862 $670K No change
XOM Exxon Mobil Corp. 0.10% 6,212 $668K Reduce -1.2%
HDV iShares Core High Dividend E 0.10% 5,865 $658K No change
UNH Unitedhealth Group Inc. 0.10% 1,272 $643K Add +4.2%
CVX Chevron Corp. 0.10% 4,378 $634K Add +127.3%
V Visa Inc. Class A 0.09% 1,982 $626K Add +11.7%
SHV iShares 0-1 Year Treasury Bo 0.09% 5,535 $609K Add +5.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.09% 2,704 $594K New
IBIT iShares Bitcoin Trust ETF 0.09% 11,097 $589K Add +15.6%
EFAV iShares MSCI Eafe Min Vol Fa 0.09% 8,090 $572K No change
MA Mastercard Inc. Class A 0.09% 1,080 $569K Add +18.4%
SPDW Ste STR SPDR PT DW Eu ETF 0.08% 16,214 $553K New
EXC Exelon Corp. 0.08% 14,144 $532K Reduce -0.0%
IWB iShares Russell 1000 ETF 0.08% 1,618 $521K No change
PWR Quanta Services Inc. 0.08% 1,628 $515K Add +1.2%
WMT Walmart Inc. 0.08% 5,616 $507K Add +7.9%
MRK Merck & Co. Inc. 0.08% 5,097 $507K Add +26.8%
VYM Vanguard High DVD Yield ETF 0.07% 3,908 $499K Add +0.4%
CSX CSX Corp. 0.07% 15,162 $489K Reduce -0.2%
COST Costco Wholesale Corp. 0.07% 522 $478K Reduce -11.8%
IAU iShares Gold Trust 0.07% 9,644 $477K Add +0.6%
SSB Southstate Bank Corp. 0.07% 4,704 $468K No change
VOOG Vanguard S&P 500 Growth ETF 0.07% 1,263 $462K No change
PLD Prologis Inc. 0.07% 4,246 $449K Add +2.2%
LOW Lowe's Cos Inc. 0.07% 1,815 $448K Add +10.7%
SCHB Schwab US Broad Market ETF 0.06% 18,083 $410K Add +7.5%
IJH iShares Core S&P Midcap ETF 0.06% 6,565 $409K Add +71.0%
JNJ Johnson & Johnson 0.06% 2,794 $404K Reduce -3.1%
MDY State Street SPDR S&P Midcap 0.06% 702 $400K No change
ABBV Abbvie Inc. 0.06% 2,246 $399K Add +42.1%
VFH Vanguard Financials ETF 0.06% 3,150 $372K No change
IWF iShares Russell 1000 Growth 0.06% 924 $371K No change
HON Honeywell International Inc. 0.05% 1,540 $348K Reduce -17.6%
WFC Wells Fargo & Co. 0.05% 4,814 $338K Add +3.2%
WSC Willscot Holdings Corp. 0.05% 10,000 $335K No change
YUM Yum! Brands Inc. 0.05% 2,473 $332K Add +8.7%
VSS Vanguard Ftse All Wo X-US SC 0.05% 2,883 $330K Add +55.3%
UNP Union Pacific Corp. 0.05% 1,402 $320K Reduce -4.4%
CAT Caterpillar Inc. 0.05% 858 $311K Reduce -10.2%
SPEM State Street SP PTF Em ETF 0.05% 8,061 $309K New
HD Home Depot Inc. 0.05% 780 $303K Reduce -0.6%
XLF SS Financial Select Sector 0.05% 6,231 $301K Reduce -10.1%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.04% 1,013 $293K New
AVGO Broadcom Inc. 0.04% 1,262 $293K New
VDE Vanguard Energy ETF 0.04% 2,402 $291K Reduce -19.8%
ROST Ross Stores Inc. 0.04% 1,813 $274K Add +27.7%
KNX Knight-Swift Transportation 0.04% 5,150 $273K No change
DE Deere & Co. 0.04% 626 $265K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.04% 622 $265K Add +0.5%
CORT Corcept Therapeutics Inc. 0.04% 5,200 $262K Add +4.0%
QUAL iShares MSCI USA Quality Fac 0.04% 1,460 $260K Add +13.8%
EVRG Evergy Inc. 0.04% 4,065 $250K Reduce -14.0%
BX Blackstone Inc. 0.04% 1,449 $250K Add +0.1%
VTWO Vanguard Russell 2000 ETF 0.04% 2,782 $249K Add +0.4%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.04% 3,076 $242K Reduce -7.5%
HYMB SS SPDR N Ice HY Muni ETF 0.04% 9,320 $238K No change
ORLY O'reilly Automotive Inc. 0.04% 201 $238K Reduce -17.3%
CMI Cummins Inc. 0.04% 679 $237K New
IYG iShares U.S. Financial Servi 0.03% 2,931 $228K No change
XLV SS Health Care Select Sector 0.03% 1,639 $225K Reduce -27.0%
EXPD Expeditors Intl Wash Inc. 0.03% 2,016 $223K Add +15.3%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.03% 2,862 $217K No change
SCHC Schwab Intl Small-Cap Equity 0.03% 6,256 $215K Reduce -0.9%
ESGV Vanguard ESG US Stock ETF 0.03% 2,043 $214K No change
DFAC Dimensional US Core Equity 2 0.03% 6,175 $214K No change
BND Vanguard Total Bond Market 0.03% 2,930 $211K New
DHR Danaher Corp. 0.03% 917 $211K Reduce -5.7%
DUK Duke Energy Corp. 0.03% 1,951 $210K Add +3.5%
PGR Progressive Corp. 0.03% 876 $210K New
TIP iShares Tips Bond ETF 0.03% 1,885 $201K Add +1.4%
SPG Simon Property Group Inc. 0.03% 1,163 $200K New
DCGO Docgo Inc. 0.02% 38,592 $164K No change
ILPT Industrial Logistics Propert 0.01% 25,000 $91K No change
CVM Cel-Sci Corp. 0.01% 95,000 $38K Add +11.8%
Other holdings (1): bonds, preferreds, convertibles and warrants · $587 (not counted above)
SecurityClassShares / PrincipalValueChange
LVWR.WS Livewire Group Inc.-27 *W EXP 09/26/202 11,500$587No change

Total filed on the 13F, all lines: $667.3M.

Portfolio Sells Q3 2024 → Q4 2024
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.43
MGC Vngrd Mrngstr MG Cap ETF-Usd Reduce -0.8% 3.15% −0.35
SCHX Schwab US Large-Cap ETF Reduce -0.8% 2.84% −0.32
RSP Invesco S&P 500 Equal Weight Reduce -6.5% 1.27% −0.30
VCSH Vanguard S/T Corp. Bond ETF Reduce -12.3% 0.90% −0.28
CTOS Custom Truck One Source Inc. Reduce -29.1% 0.73% −0.25
SDY SS SPDR S&P Dividend ETF Reduce -6.7% 0.80% −0.24
VO Vngrd Mrngstr MD-Cap ETF-Usd Reduce -0.3% 1.74% −0.23
VUG Vanguard Mrngstar GR ETF-Sui Reduce -0.6% 2.86% −0.19
VEU Vanguard Ftse All-World Ex-U Reduce -1.2% 0.63% −0.16
VB Vanguard Most SM-Cap ETF-Usd Reduce -0.7% 1.21% −0.15
SCHM Schwab US Mid Cap ETF Reduce -0.3% 1.09% −0.15
SCHA Schwab US Small-Cap ETF Reduce -0.6% 1.09% −0.15
IJR iShares Core S&P Small-Cap E Reduce -1.6% 0.44% −0.07
RTX RTX Corp. Sold out 0.00% −0.07
BDX Becton Dickinson and Co. Sold out 0.00% −0.05
SRLN SS Blackstone Sr Loan ETF Reduce -5.3% 0.24% −0.05
VZ Verizon Communications Inc. Sold out 0.00% −0.04
SCHZ Schwab US Aggregate Bond ETF Sold out 0.00% −0.04
KO The Coca-Cola Co. Sold out 0.00% −0.04
ES Eversource Energy Sold out 0.00% −0.04
MKC McCormick & Co.-Non VTG SHRS Sold out 0.00% −0.04
MCD McDonald's Corp. Sold out 0.00% −0.03
MET Metlife Inc. Sold out 0.00% −0.03
VTIP Vanguard Short-Term Tips Reduce -6.5% 0.11% −0.03
XOM Exxon Mobil Corp. Reduce -1.2% 0.10% −0.03
XLV SS Health Care Select Sector Reduce -27.0% 0.03% −0.02
VGT Vanguard Info Tech ETF Reduce -7.1% 0.16% −0.02
GLD SPDR Gold Shares Reduce -0.7% 0.13% −0.02
JNJ Johnson & Johnson Reduce -3.1% 0.06% −0.02
VDE Vanguard Energy ETF Reduce -19.8% 0.04% −0.02
EXC Exelon Corp. Reduce -0.0% 0.08% −0.02
COST Costco Wholesale Corp. Reduce -11.8% 0.07% −0.02
CAT Caterpillar Inc. Reduce -10.2% 0.05% −0.02
CSX CSX Corp. Reduce -0.2% 0.07% −0.02
DHR Danaher Corp. Reduce -5.7% 0.03% −0.01
HON Honeywell International Inc. Reduce -17.6% 0.05% −0.01
UNP Union Pacific Corp. Reduce -4.4% 0.05% −0.01
EVRG Evergy Inc. Reduce -14.0% 0.04% −0.01
ORLY O'reilly Automotive Inc. Reduce -17.3% 0.04% −0.01
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -7.5% 0.04% −0.01
SCHC Schwab Intl Small-Cap Equity Reduce -0.9% 0.03% −0.01
HD Home Depot Inc. Reduce -0.6% 0.05% −0.01
XLF SS Financial Select Sector Reduce -10.1% 0.05% −0.01
JPM JPMorgan Chase & Co. Reduce -1.4% 0.27% −0.00
TSLA Tesla Inc. Reduce -12.1% 0.15% +0.02

Portfolio Buys Q3 2024 → Q4 2024
IGSB iShares 1-5Y Inv Grade Corp. New 1.73% +1.73
SCHO Schwab Short-Term US Treas Add +848.5% 1.66% +1.46
AGG iShares Core U.S. Aggregate Add +51.7% 4.94% +1.08
SPTI SS SPDR P Int Term TSY ETF Add +50.8% 4.86% +1.05
IGIB iShares 5-10Y Inv Grade Corp. Add +61.3% 2.58% +0.68
CAPR Capricor Therapeutics Inc. New 0.57% +0.57
MUB iShares National Muni Bond E Add +58.6% 1.63% +0.40
SCHG Schwab US Large-Cap Growth Add +15.3% 3.67% +0.28
LIND Lindblad Expeditions Holding Add +4.0% 1.67% +0.25
BRK.B Berkshire Hathaway Inc. Class B Add +79.8% 0.60% +0.22
IVV iShares Core S&P 500 ETF Add +46.5% 0.74% +0.18
AAPL Apple Inc. Add +14.6% 1.29% +0.10
IBM Intl Business Machines Corp. New 0.09% +0.09
VOO Vanguard S&P 500 ETF Add +27.2% 0.67% +0.09
SPDW Ste STR SPDR PT DW Eu ETF New 0.08% +0.08
PG The Procter & Gamble Co. Add +74.8% 0.15% +0.05
CVX Chevron Corp. Add +127.3% 0.10% +0.05
SPEM State Street SP PTF Em ETF New 0.05% +0.05
MSTR Strategy Inc. New 0.04% +0.04
AVGO Broadcom Inc. New 0.04% +0.04
SCHH Schwab US REIT ETF Add +40.6% 0.37% +0.04
SPY SS SPDR S&P 500 ETF Trust-US Add +22.0% 0.42% +0.04
CMI Cummins Inc. New 0.04% +0.04
BND Vanguard Total Bond Market New 0.03% +0.03
PGR Progressive Corp. New 0.03% +0.03
SPG Simon Property Group Inc. New 0.03% +0.03
IBIT iShares Bitcoin Trust ETF Add +15.6% 0.09% +0.03
AMZN Amazon.com Inc. Add +3.8% 0.35% +0.03
MGK Vngrd Mrgstr MG CP GR ETF-Ui Add +6.5% 8.46% +0.02
LLY Eli Lilly & Co. Add +42.7% 0.26% +0.02
IJH iShares Core S&P Midcap ETF Add +71.0% 0.06% +0.02
NVDA Nvidia Corp. Add +7.8% 0.39% +0.02
IEFA iShares Core MSCI Eafe ETF Add +37.2% 0.21% +0.02
GOOG Alphabet Inc. Class C Add +3.7% 0.29% +0.01
V Visa Inc. Class A Add +11.7% 0.09% +0.01
VSS Vanguard Ftse All Wo X-US SC Add +55.3% 0.05% +0.01
GOOGL Alphabet Inc. Class A Add +5.0% 0.17% +0.01
MA Mastercard Inc. Class A Add +18.4% 0.09% +0.01
ABBV Abbvie Inc. Add +42.1% 0.06% +0.01
WFC Wells Fargo & Co. Add +3.2% 0.05% +0.01
ROST Ross Stores Inc. Add +27.7% 0.04% +0.00
WMT Walmart Inc. Add +7.9% 0.08% +0.00
CORT Corcept Therapeutics Inc. Add +4.0% 0.04% 0.00
QUAL iShares MSCI USA Quality Fac Add +13.8% 0.04% −0.00
BX Blackstone Inc. Add +0.1% 0.04% −0.00
MRK Merck & Co. Inc. Add +26.8% 0.08% −0.00
SCHB Schwab US Broad Market ETF Add +7.5% 0.06% −0.00
META Meta Platforms Inc. Class A Add +7.8% 0.12% −0.00
BAC Bank of America Corp. Add +0.0% 0.17% −0.00
YUM Yum! Brands Inc. Add +8.7% 0.05% −0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 197$1.1BMGV, MGK, SCHV, SCHG, AGG
Q1 2026 184$916.5MMGV, MGK, AGG, SCHV, SPTI
Q4 2025 175$948.6MMGV, MGK, VUG, AGG, SPTI
Q3 2025 160$892.5MMGV, MGK, VUG, AGG, SPTI
Q2 2025 143$643.9MMGV, MGK, AGG, SPTI, SCHV
Q1 2025 145$665.9MMGV, MGK, AGG, SPTI, SCHV
Q4 2024 145$667.3MMGV, MGK, AGG, SPTI, SCHV
Q3 2024 144$589.1MMGV, MGK, SCHV, AGG, SPTI
Q2 2024 138$517.9MMGV, MGK, SCHV, MGC, AGG
Q1 2024 114$370.0MMGV, MGK, SCHV, MGC, SCHX