Cornerstone Advisory, LLC — 13F Holdings & Portfolio
CIK 1668189 · latest 13F-HR filed 2026-07-29
Cornerstone Advisory, LLC manages $1.21B in 13F-reported U.S. long-equity assets across 278 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are JEPI (9.74%), GPIX (7.91%), VYM (5.00%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 31 new positions and exited 16; 152 existing positions rose in reported value and 46 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$1.21B
Long-equity book
Holdings
278
Distinct positions
Period
2026-06-30
Filed 2026-07-29
Q/Q Activity
+31 / −16 / ↑152 / ↓46
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26JEPI9.7% · +2%GPIX7.9% · +7%VYM5.0% · +8%IVV4.6% · +2%JPIE3.2% · +20%VIG3.0% · +0%AAPL2.7% · +0%GSLC2.5% · -1%VOOG2.5% · +495%VO2.4% · +310%VGT2.4% · +714%IJR2.3% · +2%BRK.B2.1% · -5%GOOGL2.1% · +2%JEPQ2.0% · +2%JAAA2.0% · +15%VUG1.9% · +519%TCAF1.6% · -4%AMZN1.5% · +1%NVDA1.3% · +2%IEFA1.0% · +1%MSFT1.0% · -2%GOOG0.8% · -1%NAD0.8% · -4%MQY0.8% · -11%JPST0.8% · -7%IWM0.8% · +0%CGDV0.7% · +44%TROW0.7% · -2%IWF0.7% · +300%PDI0.7% · -12%QQQ0.7% · +10%NVG0.7% · -3%VYMI0.7% · +40%FEGE0.6% · +6%META0.6% · +4%V0.6% · +2%SDY0.6% · +0%VTV0.6% · +0%IUSG0.6% · -0%PRF0.6% · -3%VHT0.5% · -0%VBR0.5% · -3%BX0.5% · +62%IWD0.5% · +0%MOAT0.5% · -7%TY0.4% · +2%MA0.4% · +5%JPM0.4% · +3%JNJ0.4% · +4%SPY0.4% · +3%AVUV0.4% · +61%IEMG0.3% · +10%ABBV0.3% · +1%GLD0.3% · +10%GPIQ0.3% · +10%PDO0.3% · -9%PANW0.3% · -10%LLY0.3% · +5%IWB0.3% · +0%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 43.6%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Mar 30, 2026.
Assets Under Management
$29.35B
Discretionary
$29.35B
Employees
36
Accounts
22
Address
675 PETER JEFFERSON PARKWAY
SUITE 400
CHARLOTTESVILLE, VA 22911
SUITE 400
CHARLOTTESVILLE, VA 22911
Phone
(434) 296-2300
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| Eltahir, Ishraga Control | CCO since Dec 2022 | Less than 5% | Individual |
| FOCUS OPERATING, LLC Control | MEMBER (MANAGER) since Oct 2020 | 75% or more | Domestic Entity |
| GALIE, SHANE, BRADFORD Control | MANAGING DIRECTOR, MEMBER since Oct 2020 | Less than 5% | Individual |
| LAING, CHRISTOPHER, CAULKINS Control | MANAGING DIRECTOR, MEMBER since Oct 2020 | Less than 5% | Individual |
| Polk JR, Jerry, NMN Control | MANAGING DIRECTOR, MEMBER since Oct 2020 | Less than 5% | Individual |
| Roller, Laura, E Control | MANAGING DIRECTOR, MEMBER since Jan 2022 | Less than 5% | Individual |
| SCHUYLER, KEVIN, WILLIAM Control | MANAGING DIRECTOR, MEMBER since Oct 2020 | Less than 5% | Individual |
| Davis, Carrie, E | MANAGING DIRECTOR OF OPERATIONS, MEMBER since Oct 2021 | Less than 5% | Individual |
| GERSTENMAIER, ANNE, ALEXANDER | MANAGING DIRECTOR, MEMBER since Nov 2020 | Less than 5% | Individual |
| HENNINGSEN, KRISTIN, LINDGREN | MANAGING DIRECTOR OF OPERATIONS, MEMBER since Oct 2020 | Less than 5% | Individual |
| KNERR, PETER, WILLIAM | MANAGING DIRECTOR, MEMBER since Oct 2021 | Less than 5% | Individual |
| KWON, JAE, HYUN | MANAGING DIRECTOR, MEMBER since Jan 2021 | Less than 5% | Individual |
| SCOTT, KATHRYN, ELIZABETH JARVIS | MANAGING DIRECTOR, MEMBER since May 2023 | Less than 5% | Individual |
| CD&R FERDINAND CO-INVESTOR, L.P. Control Indirect owner via CD&R FERDINAND HOLDINGS, L.P. | PARTNER since Aug 2023 | 25–50% | Foreign Entity |
| CD&R FERDINAND HOLDINGS, L.P. Control Indirect owner via FERDINAND FFP ULTIMATE HOLDINGS, LP | PARTNER since Aug 2023 | 50–75% | Domestic Entity |
| CLAYTON DUBILIER & RICE FUND XII, L.P. Control Indirect owner via CD&R FERDINAND HOLDINGS, L.P. | PARTNER since Aug 2023 | 50–75% | Foreign Entity |
| FERDINAND FFP ACQUISITION, LLC Control Indirect owner via FOCUS FINANCIAL PARTNERS INC. | SHAREHOLDER, CLASS A COMMON STOCK since Aug 2023 | 75% or more | Domestic Entity |
| FERDINAND FFP INTERMEDIATE HOLDINGS, LP Control Indirect owner via FERDINAND FFP ACQUISITION, LLC | MEMBER since Aug 2023 | 75% or more | Domestic Entity |
| FERDINAND FFP PARENT, INC. Control Indirect owner via FERDINAND FFP INTERMEDIATE HOLDINGS, LP | MEMBER since Aug 2023 | 75% or more | Domestic Entity |
| FERDINAND FFP ULTIMATE HOLDINGS, LP Control Indirect owner via FOCUS FINANCIAL PARTNERS INC. | SHAREHOLDER, CLASS B COMMON STOCK since Aug 2023 | 75% or more | Domestic Entity |
| FERDINAND FFP ULTIMATE HOLDINGS, LP Control Indirect owner via FERDINAND FFP PARENT, INC. | SHAREHOLDER since Aug 2023 | 75% or more | Domestic Entity |
| FOCUS FINANCIAL PARTNERS INC. Control Indirect owner via FOCUS FINANCIAL PARTNERS, LLC | MEMBER since Jul 2018 | 50–75% | Domestic Entity |
| FOCUS FINANCIAL PARTNERS, LLC Control Indirect owner via FOCUS OPERATING, LLC | MEMBER since Jan 2007 | 75% or more | Domestic Entity |
Ownership & leadership changes · 10 filings with changes since Oct 19, 2020
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Mar 30, 2026 filing
- No longer listedHarbilas, Peter, M · MANAGING DIRECTOR, MEMBER · Less than 5% · listed since Jan 2022
- ChangedEltahir, Ishraga · now a control person
- ChangedFOCUS FINANCIAL PARTNERS INC. · indirect via FOCUS FINANCIAL PARTNERS, LLC: ownership 75% or more → 50–75%
- ChangedGERSTENMAIER, ANNE, ALEXANDER · title DIRECTOR, MEMBER → MANAGING DIRECTOR, MEMBER
- ChangedKWON, JAE, HYUN · title DIRECTOR, MEMBER → MANAGING DIRECTOR, MEMBER
- ChangedPolk JR, Jerry, NMN · now a control person
- ChangedRoller, Laura, E · now a control person
Mar 27, 2024 filing
- ChangedFOCUS FINANCIAL PARTNERS INC. · indirect via FOCUS FINANCIAL PARTNERS, LLC: title MANAGING MEMBER → MEMBER
Jan 29, 2024 filing
- ChangedGERSTENMAIER, ANNE, ALEXANDER · title MANAGING DIRECTOR, MEMBER → DIRECTOR, MEMBER
- ChangedKWON, JAE, HYUN · title MANAGING DIRECTOR, MEMBER → DIRECTOR, MEMBER
Jan 26, 2024 filing
- No longer listedROLPH, MARIA, GELABERT · MEMBER · 5–10% · listed since Oct 2020
- No longer listedRUSSELL, DAVID, ANDREW · MANAGING DIRECTOR, MEMBER · Less than 5% · control person · listed since Oct 2020
- AddedGERSTENMAIER, ANNE, ALEXANDER · MANAGING DIRECTOR, MEMBER · Less than 5%
- AddedKWON, JAE, HYUN · MANAGING DIRECTOR, MEMBER · Less than 5%
- AddedSCOTT, KATHRYN, ELIZABETH JARVIS · MANAGING DIRECTOR, MEMBER · Less than 5%
Sep 26, 2023 filing
- AddedCD&R FERDINAND CO-INVESTOR, L.P. · PARTNER · 25–50% · indirect via CD&R FERDINAND HOLDINGS, L.P. · control person
- AddedCD&R FERDINAND HOLDINGS, L.P. · PARTNER · 50–75% · indirect via FERDINAND FFP ULTIMATE HOLDINGS, LP · control person
- AddedCLAYTON DUBILIER & RICE FUND XII, L.P. · PARTNER · 50–75% · indirect via CD&R FERDINAND HOLDINGS, L.P. · control person
- AddedFERDINAND FFP ACQUISITION, LLC · SHAREHOLDER, CLASS A COMMON STOCK · 75% or more · indirect via FOCUS FINANCIAL PARTNERS INC. · control person
- AddedFERDINAND FFP INTERMEDIATE HOLDINGS, LP · MEMBER · 75% or more · indirect via FERDINAND FFP ACQUISITION, LLC · control person
- AddedFERDINAND FFP PARENT, INC. · MEMBER · 75% or more · indirect via FERDINAND FFP INTERMEDIATE HOLDINGS, LP · control person
- AddedFERDINAND FFP ULTIMATE HOLDINGS, LP · SHAREHOLDER, CLASS B COMMON STOCK · 75% or more · indirect via FOCUS FINANCIAL PARTNERS INC. · control person
- AddedFERDINAND FFP ULTIMATE HOLDINGS, LP · SHAREHOLDER · 75% or more · indirect via FERDINAND FFP PARENT, INC. · control person
- ChangedFOCUS FINANCIAL PARTNERS INC. · indirect via FOCUS FINANCIAL PARTNERS, LLC: title MEMBER → MANAGING MEMBER
Mar 30, 2023 filing
- Listed againROLPH, MARIA, GELABERT · MEMBER · 5–10%
- ChangedLAING, CHRISTOPHER, CAULKINS · title SENIOR MANAGING DIRECTOR, MEMBER → MANAGING DIRECTOR, MEMBER
- ChangedRUSSELL, DAVID, ANDREW · title SENIOR MANAGING DIRECTOR, MEMBER → MANAGING DIRECTOR, MEMBER
- ChangedSCHUYLER, KEVIN, WILLIAM · title SENIOR MANAGING DIRECTOR, MEMBER → MANAGING DIRECTOR, MEMBER
Jan 6, 2023 filing
- No longer listedROLPH, MARIA, GELABERT · MANAGING DIRECTOR, MEMBER, CCO · Less than 5% · listed since Oct 2020
- AddedEltahir, Ishraga · CCO · Less than 5%
Mar 29, 2022 filing
- AddedHarbilas, Peter, M · MANAGING DIRECTOR, MEMBER · Less than 5%
- AddedRoller, Laura, E · MANAGING DIRECTOR, MEMBER · Less than 5%
Nov 17, 2021 filing
- AddedDavis, Carrie, E · MANAGING DIRECTOR OF OPERATIONS, MEMBER · Less than 5%
- AddedKNERR, PETER, WILLIAM · MANAGING DIRECTOR, MEMBER · Less than 5%
Dec 11, 2020 filing
- ChangedHENNINGSEN, KRISTIN, LINDGREN · no longer a control person
- ChangedPolk JR, Jerry, NMN · no longer a control person
- ChangedROLPH, MARIA, GELABERT · no longer a control person
Older changes (1 more filing)
Oct 19, 2020 filing (earliest on record)
- ListedFOCUS FINANCIAL PARTNERS INC. · MEMBER · 75% or more · indirect via FOCUS FINANCIAL PARTNERS, LLC · control person
- ListedFOCUS FINANCIAL PARTNERS, LLC · MEMBER · 75% or more · indirect via FOCUS OPERATING, LLC · control person
- ListedFOCUS OPERATING, LLC · MEMBER (MANAGER) · 75% or more · control person
- ListedGALIE, SHANE, BRADFORD · MANAGING DIRECTOR, MEMBER · Less than 5% · control person
- ListedHENNINGSEN, KRISTIN, LINDGREN · MANAGING DIRECTOR OF OPERATIONS, MEMBER · Less than 5% · control person
- ListedLAING, CHRISTOPHER, CAULKINS · SENIOR MANAGING DIRECTOR, MEMBER · Less than 5% · control person
- ListedPolk JR, Jerry, NMN · MANAGING DIRECTOR, MEMBER · Less than 5% · control person
- ListedROLPH, MARIA, GELABERT · MANAGING DIRECTOR, MEMBER, CCO · Less than 5% · control person
- ListedRUSSELL, DAVID, ANDREW · SENIOR MANAGING DIRECTOR, MEMBER · Less than 5% · control person
- ListedSCHUYLER, KEVIN, WILLIAM · SENIOR MANAGING DIRECTOR, MEMBER · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- GOLDMAN SACHS ETF TR$15.3M +19.1%
- ISHARES TR$8.1M +17.2%
- VANGUARD WORLD FD$8.0M +39.4%
- VANGUARD WHITEHALL FDS$7.9M +15.1%
- J P MORGAN EXCHANGE TRADED F$6.5M +20.4%
Top Trims
- CALAMOS CONV & HIGH INCOME F-$1.6M -53.1%
- PIMCO DYNAMIC INCOME FD-$1.4M -14.0%
- J P MORGAN EXCHANGE TRADED F-$683.7K -6.7%
- BLACKROCK MUNIYILD QULT FD I-$626.6K -6.1%
- EXXON MOBIL CORP-$580.2K -16.6%
New Positions
- SHERWIN WILLIAMS CO$3.3M
- SELECT SECTOR SPDR TR$2.2M
- VANECK ETF TRUST$871.0K
- SPACE EXPLORATION TECHN CORP$474.5K
- WESTERN DIGITAL CORP$374.3K
Exited Positions
- PIMCO ETF TR$3.9M
- HONEYWELL INTL INC$702.8K
- ISHARES TR$645.1K
- ANTERO MIDSTREAM CORP$413.2K
- PROFESIONALLY MANAGED PORTFO$378.9K
Cornerstone Advisory, LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | J P MORGAN EXCHANGE TRADED F | JEPI | 46641Q332 | $117.4M | 9.74% | 2,079,263 | SH |
| 2 | GOLDMAN SACHS ETF TR | GPIX | 38149W622 | $95.3M | 7.91% | 1,715,359 | SH |
| 3 | VANGUARD WHITEHALL FDS | VYM | 921946406 | $60.3M | 5.00% | 381,419 | SH |
| 4 | ISHARES TR | IVV | 464287200 | $55.1M | 4.57% | 73,512 | SH |
| 5 | J P MORGAN EXCHANGE TRADED F | JPIE | 46641Q159 | $38.2M | 3.17% | 829,529 | SH |
| 6 | VANGUARD SPECIALIZED FUNDS | VIG | 921908844 | $36.6M | 3.04% | 154,736 | SH |
| 7 | APPLE INC | AAPL | 037833100 | $33.1M | 2.75% | 114,443 | SH |
| 8 | GOLDMAN SACHS ETF TR | GSLC | 381430503 | $30.3M | 2.51% | 213,217 | SH |
| 9 | VANGUARD ADMIRAL FDS INC | VOOG | 921932505 | $29.6M | 2.46% | 358,268 | SH |
| 10 | VANGUARD INDEX FDS | VO | 922908629 | $29.2M | 2.42% | 361,971 | SH |
| 11 | VANGUARD WORLD FD | VGT | 92204A702 | $28.4M | 2.36% | 237,662 | SH |
| 12 | ISHARES TR | IJR | 464287804 | $27.8M | 2.31% | 187,775 | SH |
| 13 | BERKSHIRE HATHAWAY INC DEL | BRK.B | 084670702 | $25.8M | 2.14% | 51,523 | SH |
| 14 | ALPHABET INC | GOOGL | 02079K305 | $25.6M | 2.12% | 71,543 | SH |
| 15 | J P MORGAN EXCHANGE TRADED F | JEPQ | 46654Q203 | $24.2M | 2.01% | 394,178 | SH |
| 16 | JANUS DETROIT STR TR | JAAA | 47103U845 | $24.0M | 1.99% | 475,016 | SH |
| 17 | VANGUARD INDEX FDS | VUG | 922908736 | $23.0M | 1.90% | 266,465 | SH |
| 18 | T ROWE PRICE EXCHANGE-TRADED | TCAF | 87283Q867 | $19.2M | 1.59% | 467,660 | SH |
| 19 | AMAZON COM INC | AMZN | 023135106 | $17.5M | 1.46% | 73,599 | SH |
| 20 | NVIDIA CORPORATION | NVDA | 67066G104 | $15.2M | 1.26% | 76,079 | SH |
| 21 | ISHARES TR | IEFA | 46432F842 | $12.5M | 1.04% | 129,666 | SH |
| 22 | MICROSOFT CORP | MSFT | 594918104 | $12.2M | 1.01% | 32,678 | SH |
| 23 | ALPHABET INC | GOOG | 02079K107 | $10.2M | 0.84% | 28,762 | SH |
| 24 | NUVEEN QUALITY MUNCP INCOME | NAD | 67066V101 | $9.9M | 0.82% | 813,878 | SH |
| 25 | BLACKROCK MUNIYILD QULT FD I | MQY | 09254F100 | $9.7M | 0.81% | 838,561 | SH |
| 26 | J P MORGAN EXCHANGE TRADED F | JPST | 46641Q837 | $9.5M | 0.79% | 187,979 | SH |
| 27 | ISHARES TR | IWM | 464287655 | $9.1M | 0.76% | 30,306 | SH |
| 28 | CAPITAL GROUP DIVIDEND VALUE | CGDV | 14020W106 | $9.0M | 0.75% | 182,911 | SH |
| 29 | PRICE T ROWE GROUP INC | TROW | 74144T108 | $8.9M | 0.74% | 78,711 | SH |
| 30 | ISHARES TR | IWF | 464287614 | $8.7M | 0.72% | 69,769 | SH |
| 31 | PIMCO DYNAMIC INCOME FD | PDI | 72201Y101 | $8.4M | 0.69% | 501,259 | SH |
| 32 | INVESCO QQQ TR | QQQ | 46090E103 | $8.2M | 0.68% | 11,154 | SH |
| 33 | NUVEEN AMT FREE MUN CR INC F | NVG | 67071L106 | $7.9M | 0.66% | 619,791 | SH |
| 34 | VANGUARD WHITEHALL FDS | VYMI | 921946794 | $7.9M | 0.66% | 80,745 | SH |
| 35 | RBB FUND TRUST | FEGE | 75526L886 | $7.8M | 0.65% | 159,032 | SH |
| 36 | META PLATFORMS INC | META | 30303M102 | $7.7M | 0.64% | 13,666 | SH |
| 37 | VISA INC | V | 92826C839 | $7.1M | 0.59% | 20,732 | SH |
| 38 | SPDR SERIES TRUST | SDY | 78464A763 | $7.0M | 0.58% | 45,968 | SH |
| 39 | VANGUARD INDEX FDS | VTV | 922908744 | $7.0M | 0.58% | 31,970 | SH |
| 40 | ISHARES TR | IUSG | 464287671 | $6.8M | 0.57% | 36,272 | SH |
| 41 | INVESCO EXCHANGE TRADED FD T | PRF | 46137V613 | $6.6M | 0.55% | 122,805 | SH |
| 42 | VANGUARD WORLD FD | VHT | 92204A504 | $6.3M | 0.52% | 20,947 | SH |
| 43 | VANGUARD INDEX FDS | VBR | 922908611 | $6.1M | 0.51% | 25,121 | SH |
| 44 | BLACKSTONE INC | BX | 09260D107 | $6.0M | 0.49% | 50,633 | SH |
| 45 | ISHARES TR | IWD | 464287598 | $5.7M | 0.47% | 23,407 | SH |
| 46 | VANECK ETF TRUST | MOAT | 92189F643 | $5.7M | 0.47% | 54,482 | SH |
| 47 | TRI CONTL CORP | TY | 895436103 | $5.3M | 0.44% | 155,211 | SH |
| 48 | MASTERCARD INCORPORATED | MA | 57636Q104 | $5.3M | 0.44% | 10,272 | SH |
| 49 | JPMORGAN CHASE & CO | JPM | 46625H100 | $4.7M | 0.39% | 14,225 | SH |
| 50 | JOHNSON & JOHNSON | JNJ | 478160104 | $4.6M | 0.38% | 18,006 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-07-29 | $1.21B | 278 | 0001765380-26-000238 |
| 2026-03-31 | 2026-05-04 | $1.06B | 262 | 0001765380-26-000144 |
| 2025-12-31 | 2026-01-28 | $1.05B | 248 | 0001765380-26-000050 |
Filer Information
Address
211 OLD PADONIA ROADHUNT VALLEY, MD 21030
Phone
(410) 468-1694
Filing Manager
Cornerstone Advisory, LLC
HUNT VALLEY, MD
Signatory
Lonny Elfenbein
Compliance Consultant