Managers / Q2 2022 · view latest →
TNF LLC
CIK 0001849683 · 3178 GABEL ROAD, BILLINGS, MT, 59102 · 406 294-5000
Summary
Tnf LLC reported $210M in U.S.-listed holdings across 114 positions for Q2 2022.
Its largest position, Ishares Tr, represents 12.7% of the portfolio.
Compared with Q1 2022, the fund opened 5 new positions and exited 15.
Portfolio Metrics
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
Portfolio Composition
- ETP · 89.6% · $188M
- Common Stock · 9.1% · $19M
- Closed-End Fund · 0.8% · $2M
- REIT · 0.5% · $1M
- Other · 0.0% · $76,000
Quarter-over-Quarter Changes full breakdown →
vs Q1 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ISHARES INC | NEW | +50.2K | 50.2K | +$3M | $3M |
| INVESCO EXCH TRADED FD TR II | NEW | +83.4K | 83.4K | +$2M | $2M |
| ISHARES TR | NEW | +39.0K | 39.0K | +$1M | $1M |
| DFUVDIMENSIONAL ETF TRUST | NEW | +9.7K | 9.7K | +$315,000 | $315,000 |
| QCOMQUALCOMM INC | NEW | +1.5K | 1.5K | +$231,000 | $231,000 |
| AMZNAMAZON COM INC | ADDED | +4.0K | 4.2K | +$42,000 | $510,000 |
| ISHARES TR | ADDED | +29.0K | 31.8K | +$3M | $3M |
| ISHARES TR | ADDED | +23.9K | 26.3K | +$2M | $2M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2022
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | TLHISHARES TR | CORE S&P500 ETF · ESG AWR MSCI USA · CORE TOTAL USD · US TREAS BD ETF · EAFE VALUE ETF · EAFE GRWTH ETF · NATIONAL MUN ETF · TIPS BD ETF · FALN ANGLS USD · CORE HIGH DV ETF · MBS ETF · SP SMCP600VL ETF · 10-20 YR TRS ETF · CORE S&P SCP ETF · CONV BD ETF · MSCI USA MIN VOL · MSCI USA VALUE · US INFRASTRUC · U.S. ENERGY ETF · ISHS 1-5YR INVS · CORE S&P MCP ETF · RUS TP200 GR ETF · IBOXX INV CP ETF · MSCI EAFE ETF · GLOBAL TECH ETF · CORE US AGGBD ET · U.S. MED DVC ETF · SHRT NAT MUN ETF · CORE MSCI TOTAL | 67.28% | $141M | 2.22M |
| 2 | SPDR SER TR | PORTFOLIO S&P500 | 6.16% | $13M | 277.8K |
| 3 | SCHWAB STRATEGIC TR | US AGGREGATE B · US TIPS ETF | 4.05% | $8M | 165.9K |
| 4 | MRKMERCK & CO INChistory → | COM | 2.05% | $4M | 47.8K |
| 5 | ESGEISHARES INC | MSCI EMERG MRKT · ESG AWR MSCI EM | 2.01% | $4M | 95.7K |
| 6 | AAPLAPPLE INChistory → | COM | 1.40% | $3M | 19.0K |
| 7 | EXMOCEXXON MOBIL CORPhistory → | COM | 1.18% | $2M | 28.4K |
| 8 | NDQINVESCO QQQ TRhistory → | UNIT SER 1 | 1.06% | $2M | 7.3K |
| 9 | SPDR S&P 500 ETF TR | TR UNIT | 1.00% | $2M | 5.3K |
| 10 | INVESCO EXCH TRADED FD TR II | S&P EMRNG MKTS | 0.91% | $2M | 83.4K |
| 11 | ISHARES U S ETF TR | GSCI CMDTY STGY | 0.86% | $2M | 47.2K |
| 12 | FIBKFIRST INTST BANCSYSTEM INC | COM CL A | 0.48% | $1M | 25.5K |
| 13 | HDHOME DEPOT INC | COM | 0.40% | $830,000 | 2.7K |
| 14 | XLESELECT SECTOR SPDR TR | ENERGY | 0.35% | $727,000 | 10.2K |
| 15 | PPGPPG INDS INC | COM | 0.31% | $642,000 | 5.0K |
| 16 | CALAMOS CONV & HIGH INCOME F | COM SHS | 0.30% | $622,000 | 50.8K |
| 17 | EBMTEAGLE BANCORP MONT INC | COM | 0.29% | $611,000 | 31.3K |
| 18 | AXPAMERICAN EXPRESS CO | COM | 0.26% | $547,000 | 3.6K |
| 19 | VANGUARD INDEX FDS | MID CAP ETF | 0.24% | $513,000 | 2.5K |
| 20 | AMZNAMAZON COM INC | COM | 0.24% | $510,000 | 4.2K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2024 | $278M | 125 | Oct 25, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $272M | 122 | Jul 25, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $253M | 117 | Apr 25, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $252M | 114 | Jan 30, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $215M | 95 | Oct 20, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $229M | 98 | Aug 23, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $222M | 98 | May 1, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $220M | 106 | Feb 7, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $196M | 103 | Oct 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $210M | 114 | Jul 25, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $222M | 124 | Apr 25, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $238M | 137 | Jan 18, 2022 | 13F-HR | changes · 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 ↗.