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Livermore
Livermore
ZHEN

Black Diamond Financial, LLC

SEC CIK
0001759236
Latest filing
Aug 4, 2026

The latest 13F from Black Diamond Financial, LLC covers Q2 2026 (filed Aug 4, 2026): 198 long positions worth $1.13B. The top 10 holdings make up 50.2% of the portfolio, and the largest is Vanguard World FD at 10.9%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
20
Est. +$5.66M
Added
79
Est. +$109.2M
Reduced
71
Est. −$10.3M
Sold out
7
Est. −$1.10M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard World FD921910840
    10.9%$123.8M
  2. Vanguard World FD921910816
    8.5%$96.4M
  3. Schwab U.S. Large-Cap Value ETF808524409
    5.4%$61.2M
  4. Schwab U.S. Large-Cap Growth ETF808524300
    5.3%$60.3M
  5. iShares Core U.S. Aggregate Bond ETF464287226
    4.1%$47.0M

Biggest buys

New and added positions, by estimated amount bought

  1. Schwab U.S. Large-Cap Growth ETF808524300
    +$17.6MAdded
  2. Schwab U.S. Large-Cap Value ETF808524409
    +$12.1MAdded
  3. Vanguard Morningstar Total Stock Market ETF922908769
    +$11.4MAdded
  4. Vanguard World FD921910873
    +$10.4MAdded
  5. Vanguard Morningstar Large-Cap ETF922908637
    +$6.83MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. Schwab U.S. Large-Cap Growth ETF808524300
    +1.31 pp4.0% → 5.3%
  2. Vanguard Morningstar Total Stock Market ETF922908769
    +0.95 pp0.8% → 1.8%
  3. Vanguard World FD921910873
    +0.73 pp2.9% → 3.6%
  4. Schwab U.S. Large-Cap Value ETF808524409
    +0.70 pp4.7% → 5.4%
  5. Vanguard Morningstar Large-Cap ETF922908637
    +0.56 pp0.6% → 1.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. LINDLindblad Expeditions Holdings, Inc.
    −$3.06MReducedHistory
  2. PLPlanet Labs PBC
    −$1.90MReducedHistory
  3. Invesco Exchange Traded FD T46137V357
    −$750.9KReduced
  4. Vanguard Morningstar Growth ETF922908736
    −$479.5KReducedConverted for a 6-for-1 split
  5. SPDR Series Trust78464A763
    −$430.2KReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. Vanguard Morningstar Value ETF922908744
    −0.20 pp1.9% → 1.7%
  2. Vanguard Morningstar Growth ETF922908736
    −0.18 pp3.2% → 3.1%
  3. PLPlanet Labs PBC
    −0.18 pp0.2% → 0.1%History
  4. Schwab U.S. Large-Cap ETF808524201
    −0.17 pp2.2% → 2.0%
  5. Invesco Exchange Traded FD T46137V357
    −0.15 pp0.8% → 0.7%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.13B
+$217.6M (+23.7%) vs. prior quarter
Positions
198
+13 vs. prior quarter
Top 10 concentration
50.2%
Top 10 as share of value
Turnover
1.1%
Q2 2026, one quarter
Average holding period
18.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.13B (Q2 2026)

Q1 2021: $235.7MQ2 2021: $256.0MQ3 2021: $208.2MQ4 2021: $296.9MQ1 2022: $316.8MQ2 2022: $253.9MQ3 2022: $248.2MQ4 2022: $276.6MQ1 2023: $304.6MQ2 2023: $337.8MQ3 2023: $324.9MQ4 2023: $370.0MQ1 2024: $370.0MQ2 2024: $517.9MQ3 2024: $589.1MQ4 2024: $667.3MQ1 2025: $665.9MQ2 2025: $643.9MQ3 2025: $892.5MQ4 2025: $948.6MQ1 2026: $916.5MQ2 2026: $1.13B
Q1 2021Q2 2026
13F filings of Black Diamond Financial, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 4, 2026198$1.13BVanguard World FDVanguard World FDSchwab U.S. Large-Cap Value ETFvs. Q1 2026SEC
Q1 2026May 5, 2026185$916.5MVanguard World FDVanguard World FDiShares Core U.S. Aggregate Bond ETFvs. Q4 2025SEC
Q4 2025Feb 3, 2026176$948.6MVanguard World FDVanguard World FDVanguard Morningstar Growth ETFvs. Q3 2025SEC
Q3 2025Nov 5, 2025161$892.5MVanguard World FDVanguard World FDVanguard Morningstar Growth ETFvs. Q2 2025SEC
Q2 2025Jul 30, 2025144$643.9MVanguard World FDVanguard World FDiShares Core U.S. Aggregate Bond ETFvs. Q1 2025SEC
Q1 2025Apr 30, 2025146$665.9MVanguard World FDVanguard World FDiShares Core U.S. Aggregate Bond ETFvs. Q4 2024SEC
Q4 2024Feb 4, 2025146$667.3MVanguard World FDVanguard World FDiShares Core U.S. Aggregate Bond ETFvs. Q3 2024SEC
Q3 2024Nov 6, 2024145$589.1MVanguard World FDVanguard World FDSchwab U.S. Large-Cap Value ETFvs. Q2 2024SEC
Q2 2024Aug 9, 2024139$517.9MVanguard World FDVanguard World FDSchwab U.S. Large-Cap Value ETFvs. Q1 2024SEC
Q1 2024May 6, 2024115$370.0MVanguard World FDVanguard World FDSchwab U.S. Large-Cap Value ETFvs. Q4 2023SEC
Q4 2023Feb 12, 2024116$370.0MVanguard World FDVanguard World FDSchwab U.S. Large-Cap Value ETFvs. Q3 2023SEC
Q3 2023Nov 3, 2023111$324.9MVanguard World FDVanguard World FDVanguard World FDvs. Q2 2023SEC
Q2 2023Aug 2, 2023114$337.8MVanguard World FDVanguard World FDVanguard World FDvs. Q1 2023SEC
Q1 2023May 11, 2023117$304.6MVanguard World FDVanguard World FDVanguard World FDvs. Q4 2022SEC
Q4 2022Feb 6, 2023111$276.6MVanguard World FDVanguard World FDVanguard World FDvs. Q3 2022SEC
Q3 2022Nov 9, 2022103$248.2MVanguard World FDVanguard World FDVanguard World FDvs. Q2 2022SEC
Q2 2022Jul 27, 2022114$253.9MVanguard World FDVanguard World FDVanguard Scottsdale FDSvs. Q1 2022SEC
Q1 2022May 9, 2022127$316.8MVanguard World FDVanguard Scottsdale FDSVanguard World FDvs. Q4 2021SEC
Q4 2021Feb 7, 202296$296.9MVanguard World FDVanguard Scottsdale FDSVanguard World FDvs. Q3 2021SEC
Q3 2021Nov 2, 202177$208.2MVanguard World FDVanguard Scottsdale FDSVanguard World FDvs. Q2 2021SEC
Q2 2021Jul 27, 202186$256.0MVanguard Scottsdale FDSVanguard World FDVanguard World FDvs. Q1 2021SEC
Q1 2021May 3, 202185$235.7MVanguard Scottsdale FDSVanguard World FDVanguard World FD–SEC