SEC 13F Intelligence

Managers / Q3 2023 · view latest →

TNF LLC

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

Reported Value
$215M
Q3 2023
Positions
95
Filings on Record
13
2019–present window
Filed
Oct 20, 2023
original filing

Summary

Tnf LLC reported $215M in U.S.-listed holdings across 95 positions for Q3 2023.

Its largest position, Ishares Tr, represents 18.3% of the portfolio.

Compared with Q2 2023, the fund opened 4 new positions and exited 7.

Portfolio Metrics

Turnover
+12.0%
vs prior filed quarter
Top-10 Concentration
+64.3%
share of reported value
Largest Position
+18.3%
Ishares Tr
New / Exited
4 / 7
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: 90.9%Common Stock: 8.3%Closed-End Fund: 0.4%REIT: 0.3%Other: 0.0%
  • ETP · 90.9% · $196M
  • Common Stock · 8.3% · $18M
  • Closed-End Fund · 0.4% · $907,087
  • REIT · 0.3% · $730,343
  • Other · 0.0% · $52,258

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+124.0K124.0K+$6M$6M
ISHARES TRNEW+39.9K39.9K+$3M$3M
SCHWAB STRATEGIC TRNEW+27.4K27.4K+$1M$1M
XLCSELECT SECTOR SPDR TRNEW+3.1K3.1K+$207,798$207,798
ISHARES TRADDED+48.1K52.2K+$4M$4M
ISHARES TRADDED+6.6K9.6K+$2M$2M
ISHARES TRADDED+10.9K16.3K+$1M$2M
ISHARES TRADDED+12.9K19.4K+$1M$2M

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

Holdings — Q3 2023

21 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES TRCORE S&P500 ETF · CORE TOTAL USD · EAFE VALUE ETF · EAFE GRWTH ETF · MSCI USA QLT FCT · ESG AWR MSCI USA · MBS ETF · TRS FLT RT BD · NATIONAL MUN ETF · 20 YR TR BD ETF · US TREAS BD ETF · U.S. TECH ETF · MSCI USA MIN VOL · S&P 500 GRWT ETF · CORE S&P MCP ETF · TIPS BD ETF · IBOXX INV CP ETF · CORE S&P SCP ETF · US INFRASTRUC · RUS TP200 GR ETF · JPMORGAN USD EMG · MSCI EAFE ETF · MSCI USA VALUE · GLOBAL TECH ETF · CORE MSCI TOTAL · SHRT NAT MUN ETF · SELECT DIVID ETF · MORNINGSTAR GRWT70.75%$152M1.89M
2SPDR SER TRPORTFOLIO S&P5007.91%$17M339.5K
3SCHWAB STRATEGIC TRUS AGGREGATE B · 5 10YR CORP BD3.44%$7M173.2K
4ESGEISHARES INCCORE MSCI EMKT · ESG AWR MSCI EM2.68%$6M134.8K
5MRKMERCK & CO INChistory →COM1.96%$4M42.1K
6AAPLAPPLE INChistory →COM1.46%$3M18.0K
7EXMOCEXXON MOBIL CORPhistory →COM1.18%$3M22.5K
8NDQINVESCO QQQ TRUNIT SER 10.95%$2M5.7K
9SPDR S&P 500 ETF TRTR UNIT0.94%$2M4.7K
10HDHOME DEPOT INCCOM0.36%$767,3412.7K
11AMZNAMAZON COM INCCOM0.32%$696,0565.4K
12PPGPPG INDS INCCOM0.29%$624,8095.0K
13FIBKFIRST INTST BANCSYSTEM INCCOM0.27%$573,90524.5K
14MSFTMICROSOFT CORPCOM0.27%$572,4351.7K
15CHVCHEVRON CORP NEWCOM0.22%$463,7282.7K
16JOHN HANCOCK EXCHANGE TRADEDMLTFCTR LRG CAP0.21%$453,9588.6K
17VANGUARD INDEX FDSMID CAP ETF0.21%$450,4362.2K
18INVESCO EXCHANGE TRADED FD TS&P MDCP MOMNTUM0.20%$431,9765.6K
19VANGUARD WORLD FDSINF TECH ETF0.20%$426,4191.0K
20EBMTEAGLE BANCORP MONT INCCOM0.20%$425,04936.3K
21AMGNAMGEN INCCOM0.19%$399,3881.4K

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 ↗.