Black Diamond Financial, LLC
Long book
$916.5M
Q1 2026
Positions
185
Top-10 weight
50%
concentration
Last quarter
+12.5%
SPY +14.8%
Turnover
16%
of book per quarter
Strategy in plain words
auto-generated from filingsBlack Diamond Financial, LLC is a wealth-management firm allocating client money, running a $916.5M US long book across 185 positions.
The portfolio is moderately concentrated (top 10 ≈ 50% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: VANGUARD MEGA CAP VALUE ETF, VANGUARD MEGA CAP GROWTH ETF, ISHARES CORE U.S. AGGREGATE, SCHWAB US LARGE-CAP VALUE, SS SPDR P INT TERM TSY ETF.
Over the last 9 quarters its long book ran on average 0.5pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.1%
Q2 2024
+6.7%
Q3 2024
+1.0%
Q4 2024
-2.0%
Q1 2025
+7.6%
Q2 2025
+6.2%
Q3 2025
+3.0%
Q4 2025
-1.7%
Q1 2026
+12.5%
Sector allocation
Technology 33%
Industrials 29%
Financials 9%
Consumer discretionary 9%
Healthcare 7%
Services media 4%
Utilities 4%
Energy 2%
Long book by quarter
What does Black Diamond own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| LIND LINDBLAD EXPEDITIONS HOLDING | Industrials | 1.1M | $18.5M | 2.0% | Held |
| AAPL APPLE INC | Technology | 37.6K | $9.5M | 1.0% | +6.4% |
| MSFT MICROSOFT CORP | Technology | 10.6K | $3.9M | 0.4% | +3.2% |
| NVDA NVIDIA CORP | Technology | 19.4K | $3.4M | 0.4% | +7.0% |
| GOOG ALPHABET INC-CL C | Technology | 11.7K | $3.4M | 0.4% | +1.8% |
| AMZN AMAZON.COM INC | Consumer discretionary | 13.9K | $2.9M | 0.3% | +7.6% |
| JPM JPMORGAN CHASE & CO | Financials | 9.3K | $2.7M | 0.3% | +0.1% |
| GOOGL ALPHABET INC-CL A | Technology | 9.2K | $2.7M | 0.3% | +2.5% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 5.3K | $2.5M | 0.3% | +2.4% |
| CAPR CAPRICOR THERAPEUTICS INC | Healthcare | 79.1K | $2.4M | 0.3% | Held |
| PL PLANET LABS PBC | Technology | 77.5K | $2.2M | 0.2% | New |
| MA MASTERCARD INC - A | Services media | 3.9K | $2.0M | 0.2% | -0.3% |
| V VISA INC-CLASS A SHARES | Services media | 5.6K | $1.7M | 0.2% | +1.8% |
| CEG CONSTELLATION ENERGY | Utilities | 5.8K | $1.6M | 0.2% | +0.1% |
| BAC BANK OF AMERICA CORP | Financials | 27.6K | $1.3M | 0.1% | +2.5% |
| MCK MCKESSON CORP | Consumer discretionary | 1.5K | $1.3M | 0.1% | +1.0% |
| META META PLATFORMS INC-CLASS A | Technology | 2.2K | $1.2M | 0.1% | +2.6% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 8.1K | $1.2M | 0.1% | +310.5% |
| XOM EXXON MOBIL CORP | Energy | 7.0K | $1.2M | 0.1% | +9.2% |
| LLY ELI LILLY & CO | Healthcare | 1.2K | $1.1M | 0.1% | -27.1% |
| PWR QUANTA SERVICES INC | Industrials | 1.7K | $908K | 0.1% | +1.5% |
| CAT CATERPILLAR INC | Industrials | 1.2K | $852K | 0.1% | +31.9% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 820 | $817K | 0.1% | -0.4% |
| EXC EXELON CORP | Utilities | 15.2K | $744K | 0.1% | +0.1% |
| WMT WALMART INC | Consumer discretionary | 5.7K | $713K | 0.1% | -5.6% |
| CVX CHEVRON CORP | Energy | 3.3K | $678K | 0.1% | -9.8% |
| PEP PEPSICO INC | Consumer staples | 4.3K | $663K | 0.1% | -6.8% |
| CSX CSX CORP | Industrials | 15.1K | $622K | 0.1% | Held |
| SYK STRYKER CORP | Healthcare | 1.8K | $607K | 0.1% | -6.2% |
| RTX RTX CORP | Industrials | 3.1K | $599K | 0.1% | New |
| KNX KNIGHT-SWIFT TRANSPORTATION | Industrials | 10.4K | $598K | 0.1% | +0.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 5, 2026 | 185 | $916.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 3, 2026 | 176 | $948.6M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 5, 2025 | 161 | $892.5M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 30, 2025 | 144 | $643.9M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 30, 2025 | 146 | $665.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 4, 2025 | 146 | $667.3M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 6, 2024 | 145 | $589.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 139 | $517.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 6, 2024 | 115 | $370.0M | canonical | SEC ↗ |