SEC 13F Intelligence

Managers / Q3 2024

TNF LLC

CIK 0001849683 · 3178 GABEL ROAD, BILLINGS, MT, 59102 · 406 294-5000

Reported Value
$278M
Q3 2024
Positions
125
Filings on Record
13
2019–present window
Filed
Oct 25, 2024
original filing

Summary

Tnf LLC reported $278M in U.S.-listed holdings across 125 positions for Q3 2024.

Its largest position, Ishares Tr, represents 17.4% of the portfolio.

Compared with Q2 2024, the fund opened 6 new positions and exited 3.

Portfolio Metrics

Turnover
+2.3%
vs prior filed quarter
Top-10 Concentration
+59.7%
share of reported value
Largest Position
+17.4%
Ishares Tr
New / Exited
6 / 3
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $238MQ4 ’21Q1 ’22: $222MQ2 ’22: $210MQ2 ’22Q3 ’22: $196MQ4 ’22: $220MQ4 ’22Q1 ’23: $222MQ2 ’23: $229MQ2 ’23Q3 ’23: $215MQ4 ’23: $252MQ4 ’23Q1 ’24: $253MQ2 ’24: $272MQ2 ’24Q3 ’24: $278Mfilingsflow.com

Portfolio Composition

By security type
ETP: 88.8%Common Stock: 10.5%Closed-End Fund: 0.3%REIT: 0.3%Other: 0.0%
  • ETP · 88.8% · $246M
  • Common Stock · 10.5% · $29M
  • Closed-End Fund · 0.3% · $882,574
  • REIT · 0.3% · $831,911
  • Other · 0.0% · $83,747

Quarter-over-Quarter Changes full breakdown →

vs Q2 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
UNPUNION PAC CORPNEW+1.2K1.2K+$275,105$275,105
ISHARES TRNEW+3.7K3.7K+$232,327$232,327
UPSUNITED PARCEL SERVICE INCNEW+1.6K1.6K+$214,418$214,418
VANGUARD INDEX FDSNEW+1.0K1.0K+$209,145$209,145
IYFISHARES TRNEW+1.9K1.9K+$205,598$205,598
NRDSNERDWALLET INCNEW+14.0K14.0K+$153,860$153,860
ISHARES TRSOLD OUT−3.1K0−$230,127$0
SCHWAB STRATEGIC TRSOLD OUT−2.1K0−$210,623$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2024

25 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES TRCORE S&P500 ETF · CORE TOTAL USD · MSCI USA QLT FCT · S&P 500 GRWT ETF · EAFE GRWTH ETF · MBS ETF · EAFE VALUE ETF · S&P 500 VAL ETF · U.S. TECH ETF · ESG AWR MSCI USA · 20 YR TR BD ETF · NATIONAL MUN ETF · HDG MSCI EAFE · US INFRASTRUC · US TREAS BD ETF · RUS TP200 GR ETF · CORE S&P SCP ETF · CORE MSCI TOTAL · JPMORGAN USD EMG · TIPS BD ETF · CORE S&P MCP ETF · TRS FLT RT BD · MSCI EAFE ETF · IBOXX INV CP ETF · GLOBAL TECH ETF63.61%$177M1.71M
2SPDR SER TRPORTFOLIO S&P5005.21%$14M212.3K
3BLACKROCK ETF TRUSTUS EQT FACTOR4.28%$12M234.9K
4ISHARES INCCORE MSCI EMKT · MSCI EMRG CHN3.37%$9M161.9K
5MRKMERCK & CO INChistory →COM2.28%$6M59.7K
6SCHWAB STRATEGIC TRUS AGGREGATE B1.89%$5M226.5K
7AAPLAPPLE INChistory →COM1.67%$5M20.0K
8BLACKROCK ETF TRUST IIFLEXIBLE INCOME1.00%$3M52.5K
9SPDR S&P 500 ETF TRTR UNIT0.97%$3M4.6K
10NDQINVESCO QQQ TRUNIT SER 10.96%$3M5.4K
11EXMOCEXXON MOBIL CORPCOM0.89%$2M20.6K
12AMZNAMAZON COM INCCOM0.47%$1M7.1K
13JOHN HANCOCK EXCHANGE TRADEDMLTFCTR LRG CAP0.45%$1M17.9K
14NVDANVIDIA CORPORATIONCOM0.40%$1M7.8K
15HDHOME DEPOT INCCOM0.39%$1M2.7K
16MSFTMICROSOFT CORPCOM0.35%$982,8992.3K
17BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.34%$938,8862.1K
18GOLDMAN SACHS ETF TRACCESS INVT GR0.31%$858,98318.6K
19VTVVANGUARD INDEX FDSVALUE ETF0.29%$812,4904.6K
20FIBKFIRST INTST BANCSYSTEM INCCOM0.29%$812,28025.4K
21COSTCOSTCO WHSL CORP NEWCOM0.29%$793,461888
22AVGOBROADCOM INCCOM0.26%$717,9324.2K
23AXPAMERICAN EXPRESS COCOM0.25%$696,3992.6K
24INVESCO EXCHANGE TRADED FD TS&P MDCP MOMNTUM0.25%$681,9385.6K
25PPGPPG INDS INCCOM0.23%$642,1805.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2024$278M125Oct 25, 202413F-HRchanges · EDGAR ↗
Q2 2024$272M122Jul 25, 202413F-HRchanges · EDGAR ↗
Q1 2024$253M117Apr 25, 202413F-HRchanges · EDGAR ↗
Q4 2023$252M114Jan 30, 202413F-HRchanges · EDGAR ↗
Q3 2023$215M95Oct 20, 202313F-HRchanges · EDGAR ↗
Q2 2023$229M98Aug 23, 202313F-HRchanges · EDGAR ↗
Q1 2023$222M98May 1, 202313F-HRchanges · EDGAR ↗
Q4 2022$220M106Feb 7, 202313F-HRchanges · EDGAR ↗
Q3 2022$196M103Oct 12, 202213F-HRchanges · EDGAR ↗
Q2 2022$210M114Jul 25, 202213F-HRchanges · EDGAR ↗
Q1 2022$222M124Apr 25, 202213F-HRchanges · EDGAR ↗
Q4 2021$238M137Jan 18, 202213F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.