XML Financial, LLC — 13F Holdings & Portfolio
CIK 1800465 · latest 13F-HR filed 2026-07-24
XML Financial, LLC manages $1.37B in 13F-reported U.S. long-equity assets across 447 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are SCHG (4.14%), DGRO (3.23%), SCHV (3.17%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 45 new positions and exited 19; 229 existing positions rose in reported value and 99 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
$1.37B
Long-equity book
Holdings
447
Distinct positions
Period
2026-06-30
Filed 2026-07-24
Q/Q Activity
+45 / −19 / ↑229 / ↓99
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26SCHG4.1% · +3%DGRO3.2% · +2%SCHV3.2% · +1%VGT2.5% · +704%IWF2.5% · +296%IWB2.4% · -1%AAPL2.4% · +1%IVV2.0% · +3%IWR1.9% · -2%BSV1.8% · +17%MSFT1.6% · +3%PTY1.5% · +10%CWB1.4% · -3%BRK.B1.3% · +7%CORP1.3% · -1%GLD1.1% · -1%JNJ1.1% · -4%NVDA1.1% · +11%GSLC1.1% · +2%IYF1.1% · 0%CSCO1.0% · -5%SPTM1.0% · -3%GOOGL0.9% · +1%JPM0.9% · -0%COWZ0.9% · +3%IWM0.9% · -0%AMZN0.9% · -2%SCHD0.9% · -3%IWP0.9% · +1%IWD0.9% · +2%RNP0.9% · +7%IJR0.9% · -4%SPHD0.9% · +4%IWS0.8% · +0%BAC0.8% · -3%VO0.8% · +337%NANR0.8% · +12%FSMB0.8% · newQCOM0.7% · -9%VYM0.7% · -2%PCPI0.7% · newGPIQ0.7% · -9%AMAT0.7% · -11%RTX0.7% · -6%UCON0.6% · +0%SPDW0.6% · +1%QQQ0.6% · +2%IBM0.6% · -4%GOOG0.6% · -2%IWO0.6% · -4%MRK0.6% · -3%IWN0.5% · +1%KMI0.5% · -6%CEFS0.5% · +17%IGLD0.5% · +4%AMGN0.5% · -4%VB0.5% · +5%VOO0.5% · +3%SPY0.5% · +4%XYLD0.5% · +10%
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 = 26.2%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Jun 2, 2026.
Assets Under Management
$3.30B
Discretionary
$2.49B
Employees
54
Accounts
5,987
Address
6901 ROCKLEDGE DRIVE
SUITE 730
BETHESDA, MD 20817
SUITE 730
BETHESDA, MD 20817
Phone
(301) 770-5234
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| BERNSTEIN, BRETT, SHANE Control | CHIEF EXECUTIVE OFFICER since Feb 2019 | Less than 5% | Individual |
| CONGDON, CURTIS, JEFFREY Control | PRESIDENT since Feb 2019 | Less than 5% | Individual |
| FOCUS OPERATING, LLC Control | MEMBER (MANAGER) since Oct 2016 | 75% or more | Domestic Entity |
| KANTOR, ROBERT, DAVID Control | CHIEF INVESTMENT OFFICER since Feb 2019 | Less than 5% | Individual |
| SAMSON, MARK, DALE Control | PRINCIPAL since Feb 2023 | Less than 5% | Individual |
| KULLEN, TODD | CHIEF OPERATING OFFICER since Feb 2019 | Less than 5% | Individual |
| Kantarski, ALEXANDRA | MEMBER since Feb 2025 | Less than 5% | Individual |
| Klopman, Jason, Elliot | MEMBER since Feb 2025 | Less than 5% | Individual |
| SZARO, JENNIFER, LARA | CHIEF COMPLIANCE OFFICER since Feb 2019 | 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, LLC 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, LLC | 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 · 13 filings with changes since Sep 1, 2016
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 27, 2026 filing
- ChangedFOCUS FINANCIAL PARTNERS INC. · indirect via FOCUS FINANCIAL PARTNERS, LLC: ownership 75% or more → 50–75%
Mar 28, 2025 filing
- AddedKantarski, ALEXANDRA · MEMBER · Less than 5%
- AddedKlopman, Jason, Elliot · MEMBER · Less than 5%
- ChangedKULLEN, TODD · no longer a control person
- ChangedSZARO, JENNIFER, LARA · no longer a control person
Jul 1, 2024 filing
- ChangedFOCUS FINANCIAL PARTNERS INC. · indirect via FOCUS FINANCIAL PARTNERS, LLC: title MANAGING MEMBER → MEMBER
Sep 15, 2023 filing
- ChangedFERDINAND FFP ACQUISITION, LLC · indirect via FOCUS FINANCIAL PARTNERS INC.: title SHAREHOLDER → SHAREHOLDER, CLASS A COMMON STOCK
- ChangedFERDINAND FFP ULTIMATE HOLDINGS, LP · indirect via FOCUS FINANCIAL PARTNERS INC.: title SHAREHOLDER → SHAREHOLDER, CLASS B COMMON STOCK
Sep 11, 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 · 75% or more · indirect via FOCUS FINANCIAL PARTNERS INC. · control person
- AddedFERDINAND FFP INTERMEDIATE HOLDINGS, LLC · 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, LLC · control person
- AddedFERDINAND FFP ULTIMATE HOLDINGS, LP · SHAREHOLDER · 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
- No longer listedCLAGETT, STEPHEN, ADAM · DIRECTOR OF BRANCH OPERATIONS · Less than 5% · control person · listed since Feb 2023
Feb 13, 2023 filing
- AddedCLAGETT, STEPHEN, ADAM · DIRECTOR OF BRANCH OPERATIONS · Less than 5% · control person
- AddedKULLEN, TODD · CHIEF OPERATING OFFICER · Less than 5% · control person
- AddedSAMSON, MARK, DALE · PRINCIPAL · Less than 5% · control person
Feb 1, 2019 filing
- AddedCONGDON, CURTIS, JEFFREY · PRESIDENT · Less than 5% · control person
- AddedSZARO, JENNIFER, LARA · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ChangedBERNSTEIN, BRETT, SHANE · title MANAGER → CHIEF EXECUTIVE OFFICER
- ChangedKANTOR, ROBERT, DAVID · title MANAGER AND CHIEF COMPLIANCE OFFICER → CHIEF INVESTMENT OFFICER
Aug 23, 2018 filing
- No longer listedTRIDENT FFP BLOCKER, LLC · LIMITED PARTNER · 25–50% · indirect via TRIDENT FFP, L.P. · control person · listed since May 2017
- No longer listedTRIDENT FFP, L.P. · MEMBER · 25–50% · indirect via FOCUS FINANCIAL PARTNERS, LLC · control person · listed since Jul 2017
- No longer listedTRIDENT VI PARALLEL FUND, L.P. · MEMBER · 75% or more · indirect via TRIDENT FFP BLOCKER, LLC · control person · listed since Apr 2017
- No longer listedTRIDENT VI, L.P. · LIMITED PARTNER · 25–50% · indirect via TRIDENT FFP, L.P. · control person · listed since May 2017
- AddedFOCUS FINANCIAL PARTNERS INC. · MEMBER · 75% or more · indirect via FOCUS FINANCIAL PARTNERS, LLC · control person
Aug 2, 2017 filing
- No longer listedCP FALCON AIV, L.P. · MEMBER · 25–50% · indirect via FOCUS FINANCIAL PARTNERS, LLC · control person · listed since Oct 2013
- AddedTRIDENT FFP BLOCKER, LLC · LIMITED PARTNER · 25–50% · indirect via TRIDENT FFP, L.P. · control person
- AddedTRIDENT FFP, L.P. · MEMBER · 25–50% · indirect via FOCUS FINANCIAL PARTNERS, LLC · control person
- AddedTRIDENT VI PARALLEL FUND, L.P. · MEMBER · 75% or more · indirect via TRIDENT FFP BLOCKER, LLC · control person
- AddedTRIDENT VI, L.P. · LIMITED PARTNER · 25–50% · indirect via TRIDENT FFP, L.P. · control person
Older changes (4 more filings)
Mar 27, 2017 filing
- AddedCP FALCON AIV, L.P. · MEMBER · 25–50% · indirect via FOCUS FINANCIAL PARTNERS, LLC · control person
Oct 1, 2016 filing
- AddedFOCUS FINANCIAL PARTNERS, LLC · MEMBER · 75% or more · indirect via FOCUS OPERATING, LLC · control person
- AddedFOCUS OPERATING, LLC · MEMBER (MANAGER) · 75% or more · control person
- ChangedBERNSTEIN, BRETT, SHANE · title MANAGING MEMBER → MANAGER; ownership 50–75% → Less than 5%
- ChangedKANTOR, ROBERT, DAVID · title MANAGING MEMBER AND CHIEF COMPLIANCE OFFICER → MANAGER AND CHIEF COMPLIANCE OFFICER; ownership 50–75% → Less than 5%
Sep 30, 2016 filing
- No longer listedBERNSTEIN, DANIEL, ADAM · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Sep 2016
- No longer listedINTERIM HOLDINGS, LLC · MANAGING MEMBER · 75% or more · control person · listed since Sep 2016
- AddedBERNSTEIN, BRETT, SHANE · MANAGING MEMBER · 50–75% · control person
- AddedKANTOR, ROBERT, DAVID · MANAGING MEMBER AND CHIEF COMPLIANCE OFFICER · 50–75% · control person
Sep 1, 2016 filing (earliest on record)
- ListedBERNSTEIN, DANIEL, ADAM · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedINTERIM HOLDINGS, LLC · MANAGING MEMBER · 75% or more · 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)
- VANGUARD WORLD FD$9.6M +37.8%
- SCHWAB STRATEGIC TR$9.4M +19.9%
- SCHWAB STRATEGIC TR$5.7M +15.0%
- GLOBAL X FDS$4.8M +375.7%
- ISHARES TR$4.7M +15.4%
Top Trims
- FIRST TR EXCH TRADED FD III-$10.3M -97.8%
- VANGUARD SCOTTSDALE FDS-$6.0M -50.1%
- GLOBAL X FDS-$4.2M -79.0%
- SPDR GOLD TR-$2.8M -15.0%
- INNOVATOR ETFS TRUST-$2.4M -58.2%
New Positions
- FIRST TR EXCH TRADED FD III$10.4M
- PIMCO ETF TR$9.5M
- STATE STR CORP$923.5K
- HONEYWELL INTL INC$700.1K
- HONEYWELL AEROSPACE INC$691.3K
Exited Positions
- GOLDMAN SACHS ETF TR$15.4M
- CARPENTER TECHNOLOGY CORP$3.3M
- HONEYWELL INTL INC$1.6M
- ISHARES SILVER TR$536.5K
- OCCIDENTAL PETE CORP$284.4K
XML Financial, 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 | SCHWAB STRATEGIC TR | SCHG | 808524300 | $57.0M | 4.14% | 1,683,381 | SH |
| 2 | ISHARES TR | DGRO | 46434V621 | $44.4M | 3.23% | 585,875 | SH |
| 3 | SCHWAB STRATEGIC TR | SCHV | 808524409 | $43.6M | 3.17% | 1,253,900 | SH |
| 4 | VANGUARD WORLD FD | VGT | 92204A702 | $35.0M | 2.55% | 292,783 | SH |
| 5 | ISHARES TR | IWF | 464287614 | $34.9M | 2.54% | 281,379 | SH |
| 6 | ISHARES TR | IWB | 464287622 | $33.6M | 2.44% | 81,941 | SH |
| 7 | APPLE INC | AAPL | 037833100 | $33.6M | 2.44% | 115,961 | SH |
| 8 | ISHARES TR | IVV | 464287200 | $28.0M | 2.04% | 37,445 | SH |
| 9 | ISHARES TR | IWR | 464287499 | $25.8M | 1.88% | 233,838 | SH |
| 10 | VANGUARD BD INDEX FDS | BSV | 921937827 | $24.7M | 1.80% | 317,267 | SH |
| 11 | MICROSOFT CORP | MSFT | 594918104 | $21.6M | 1.57% | 57,808 | SH |
| 12 | PIMCO CORPORATE & INCOME OPP | PTY | 72201B101 | $21.1M | 1.54% | 1,754,583 | SH |
| 13 | SPDR SERIES TRUST | CWB | 78464A359 | $19.6M | 1.42% | 181,451 | SH |
| 14 | BERKSHIRE HATHAWAY INC DEL | BRK.B | 084670702 | $18.1M | 1.31% | 36,078 | SH |
| 15 | PIMCO ETF TR | CORP | 72201R817 | $17.7M | 1.29% | 182,658 | SH |
| 16 | SPDR GOLD TR | GLD | 78463V107 | $15.7M | 1.14% | 42,489 | SH |
| 17 | JOHNSON & JOHNSON | JNJ | 478160104 | $15.4M | 1.12% | 60,680 | SH |
| 18 | NVIDIA CORPORATION | NVDA | 67066G104 | $14.9M | 1.08% | 74,279 | SH |
| 19 | GOLDMAN SACHS ETF TR | GSLC | 381430503 | $14.8M | 1.08% | 104,365 | SH |
| 20 | ISHARES TR | IYF | 464287788 | $14.5M | 1.06% | 113,768 | SH |
| 21 | CISCO SYS INC | CSCO | 17275R102 | $14.3M | 1.04% | 121,978 | SH |
| 22 | SPDR SERIES TRUST | SPTM | 78464A805 | $14.1M | 1.03% | 155,578 | SH |
| 23 | ALPHABET INC | GOOGL | 02079K305 | $13.0M | 0.95% | 36,391 | SH |
| 24 | JPMORGAN CHASE & CO | JPM | 46625H100 | $13.0M | 0.94% | 39,600 | SH |
| 25 | PACER FDS TR | COWZ | 69374H881 | $13.0M | 0.94% | 208,239 | SH |
| 26 | ISHARES TR | IWM | 464287655 | $12.9M | 0.94% | 43,054 | SH |
| 27 | AMAZON COM INC | AMZN | 023135106 | $12.5M | 0.91% | 52,605 | SH |
| 28 | SCHWAB STRATEGIC TR | SCHD | 808524797 | $12.4M | 0.90% | 390,817 | SH |
| 29 | ISHARES TR | IWP | 464287481 | $12.2M | 0.89% | 83,381 | SH |
| 30 | ISHARES TR | IWD | 464287598 | $12.2M | 0.89% | 50,237 | SH |
| 31 | COHEN & STEERS REIT & PFD & | RNP | 19247X100 | $12.2M | 0.88% | 598,747 | SH |
| 32 | ISHARES TR | IJR | 464287804 | $12.1M | 0.88% | 81,300 | SH |
| 33 | INVESCO EXCH TRADED FD TR II | SPHD | 46138E362 | $11.8M | 0.86% | 232,722 | SH |
| 34 | ISHARES TR | IWS | 464287473 | $11.2M | 0.81% | 68,063 | SH |
| 35 | BANK OF AMER CORP | BAC | 060505104 | $11.1M | 0.81% | 195,580 | SH |
| 36 | VANGUARD INDEX FDS | VO | 922908629 | $11.0M | 0.80% | 136,272 | SH |
| 37 | SPDR INDEX SHS FDS | NANR | 78463X152 | $10.7M | 0.78% | 142,187 | SH |
| 38 | FIRST TR EXCH TRADED FD III | FSMB | 33739P830 | $10.4M | 0.76% | 519,295 | SH |
| 39 | QUALCOMM INC | QCOM | 747525103 | $10.1M | 0.74% | 54,882 | SH |
| 40 | VANGUARD WHITEHALL FDS | VYM | 921946406 | $9.6M | 0.70% | 60,858 | SH |
| 41 | PIMCO ETF TR | PCPI | 72201R544 | $9.5M | 0.69% | 189,811 | SH |
| 42 | GOLDMAN SACHS ETF TR | GPIQ | 38149W630 | $9.4M | 0.69% | 159,217 | SH |
| 43 | APPLIED MATLS INC | AMAT | 038222105 | $9.0M | 0.66% | 12,508 | SH |
| 44 | RTX CORPORATION | RTX | 75513E101 | $9.0M | 0.66% | 47,635 | SH |
| 45 | FIRST TR EXCHNG TRADED FD VI | UCON | 33740F888 | $8.8M | 0.64% | 354,461 | SH |
| 46 | SPDR INDEX SHS FDS | SPDW | 78463X889 | $8.6M | 0.63% | 171,087 | SH |
| 47 | INVESCO QQQ TR | QQQ | 46090E103 | $8.6M | 0.63% | 11,670 | SH |
| 48 | INTERNATIONAL BUSINESS MACHS | IBM | 459200101 | $8.2M | 0.60% | 29,225 | SH |
| 49 | ALPHABET INC | GOOG | 02079K107 | $7.9M | 0.58% | 22,412 | SH |
| 50 | ISHARES TR | IWO | 464287648 | $7.8M | 0.57% | 19,777 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-07-24 | $1.37B | 447 | 0001725547-26-000254 |
| 2026-03-31 | 2026-04-16 | $1.24B | 421 | 0001725547-26-000139 |
| 2025-12-31 | 2026-02-11 | $1.23B | 442 | 0001725547-26-000074 |
Filer Information
Address
6901 ROCKLEDGE DRIVESUITE 730
BETHESDA, MD 20817
Phone
(866) 451-1874
Filing Manager
XML Financial, LLC
BETHESDA, MD
Signatory
JENNIFER SZARO
CHIEF COMPLIANCE OFFICER