SEC 13F Intelligence

Managers / Q1 2024 · view latest →

TNF LLC

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

Reported Value
$253M
Q1 2024
Positions
117
Filings on Record
13
2019–present window
Filed
Apr 25, 2024
original filing

Summary

Tnf LLC reported $253M in U.S.-listed holdings across 117 positions for Q1 2024.

The portfolio is heavily concentrated: TLH alone accounts for 68.7% of reported value.

Compared with Q4 2023, the fund opened 7 new positions and exited 4.

Portfolio Metrics

Turnover
+9.3%
vs prior filed quarter
Top-10 Concentration
+90.4%
share of reported value
Largest Position
+68.7%
Ishares Tr
New / Exited
7 / 4
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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: 90.4%Common Stock: 8.9%Closed-End Fund: 0.3%REIT: 0.3%Other: 0.0%
  • ETP · 90.4% · $228M
  • Common Stock · 8.9% · $22M
  • Closed-End Fund · 0.3% · $882,701
  • REIT · 0.3% · $723,006
  • Other · 0.0% · $75,779

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+33.5K33.5K+$6M$6M
BLACKROCK ETF TRUSTNEW+112.8K112.8K+$5M$5M
BLACKROCK ETF TRUST IINEW+20.2K20.2K+$1M$1M
SELECT SECTOR SPDR TRNEW+1.4K1.4K+$240,578$240,578
GOOGALPHABET INCNEW+1.5K1.5K+$237,784$237,784
JOHN HANCOCK EXCHANGE TRADEDNEW+9.1K9.1K+$233,419$233,419
ISHARES TRNEW+3.0K3.0K+$214,933$214,933
ISHARES TRADDED+12.6K16.4K−$106,726$946,569

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

Holdings — Q1 2024

60 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TLHISHARES TRCORE S&P500 ETF · CORE TOTAL USD · EAFE VALUE ETF · EAFE GRWTH ETF · MSCI USA QLT FCT · ESG AWR MSCI USA · MBS ETF · S&P 500 VAL ETF · U.S. TECH ETF · NATIONAL MUN ETF · TRS FLT RT BD · 20 YR TR BD ETF · GLOBAL ENERG ETF · US INFRASTRUC · CORE S&P SCP ETF · CORE MSCI TOTAL · RUS TP200 GR ETF · TIPS BD ETF · IBOXX INV CP ETF · JPMORGAN USD EMG · MSCI EAFE ETF · CORE S&P MCP ETF · MSCI USA MIN VOL · US TREAS BD ETF · S&P 500 GRWT ETF · MSCI USA VALUE · GLOBAL TECH ETF · RUS 1000 GRW ETF · MORNINGSTAR GRWT · 10-20 YR TRS ETF · SELECT DIVID ETF · U.S. MED DVC ETF · S&P MC 400GR ETF · S&P MC 400VL ETF · CORE HIGH DV ETF · SHRT NAT MUN ETF · S&P 100 ETF · RUS MD CP GR ETF · RUS 2000 VAL ETF · CORE US AGGBD ET · RUSSELL 2000 ETF · MSCI USA MMENTM · ISHS 1-5YR INVS · AGGRES ALLOC ETF68.69%$173M1.79M
2SPDR SER TRPORTFOLIO S&P5008.04%$20M341.6K
3ESGEISHARES INCCORE MSCI EMKT · MSCI EMRG CHN · ESG AWR MSCI EM2.96%$7M152.2K
4SCHWAB STRATEGIC TRUS AGGREGATE B · 5 10YR CORP BD2.63%$7M148.7K
5BLACKROCK ETF TRUSTUS EQT FACTOR1.92%$5M112.8K
6MRKMERCK & CO INChistory →COM1.87%$5M37.2K
7AAPLAPPLE INChistory →COM1.35%$3M20.2K
8EXMOCEXXON MOBIL CORPhistory →COM1.07%$3M22.4K
9SPDR S&P 500 ETF TRTR UNIT0.93%$2M4.6K
10NDQINVESCO QQQ TRUNIT SER 10.92%$2M5.4K
11VTVVANGUARD INDEX FDSVALUE ETF · MID CAP ETF · S&P 500 ETF SHS · GROWTH ETF0.84%$2M9.1K
12JOHN HANCOCK EXCHANGE TRADEDMLTFCTR LRG CAP · MULTI INTL ETF · MULTIFACTOR MI · MULTFCTR EMRNG0.76%$2M43.1K
13INVESCO EXCHANGE TRADED FD TS&P MDCP MOMNTUM · ZACKS MID CAP · HIG YLD EQ DIV0.56%$1M28.5K
14AMZNAMAZON COM INCCOM0.51%$1M7.2K
15XLCSELECT SECTOR SPDR TRSBI HEALTHCARE · COMMUNICATION · SBI CONS DISCR · INDL0.47%$1M10.1K
16BLACKROCK ETF TRUST IIFLEXIBLE INCOME0.41%$1M20.2K
17HDHOME DEPOT INCCOM0.35%$895,9072.7K
18MSFTMICROSOFT CORPCOM0.34%$863,9332.1K
19NVDANVIDIA CORPORATIONCOM0.26%$665,421835
20PPGPPG INDS INCCOM0.26%$658,7345.0K
21FIBKFIRST INTST BANCSYSTEM INCCOM0.26%$653,58924.6K
22AXPAMERICAN EXPRESS COCOM0.25%$620,6062.6K
23AVGOBROADCOM INCCOM0.21%$526,373419
24VANGUARD WORLD FDINF TECH ETF0.20%$507,6591.0K
25EBMTEAGLE BANCORP MONT INCCOM0.19%$486,98237.9K
26SPDR DOW JONES INDL AVERAGEUT SER 10.18%$460,5101.2K
27CHVCHEVRON CORP NEWCOM0.18%$448,7532.7K
28DFUVDIMENSIONAL ETF TRUSTUS MKTWIDE VALUE0.17%$422,05010.7K
29FIDELITY COVINGTON TRUSTMSCI INFO TECH I0.16%$409,3072.8K
30WISDOMTREE TRUS MIDCAP DIVID0.16%$404,7868.6K
31DEDEERE & COCOM0.16%$395,8041.0K
32VANGUARD WHITEHALL FDSHIGH DIV YLD0.15%$386,1433.3K
33AMGNAMGEN INCCOM0.15%$376,5681.4K
34STAGSTAG INDL INCCOM0.13%$339,7519.8K
35COPCONOCOPHILLIPSCOM0.13%$321,8442.5K
36ADIANALOG DEVICES INCCOM0.12%$314,1961.6K
37TJXTJX COS INC NEWCOM0.12%$294,4153.1K
38JPMJPMORGAN CHASE & COCOM0.11%$288,4191.5K
39XPMAXPIONEER MUNICIPAL HIGH INCOMCOM0.11%$283,60536.2K
40ABBVABBVIE INCCOM0.11%$282,3101.7K
41GQ9SPDR GOLD TRGOLD SHS0.10%$265,0801.2K
42COSTCOSTCO WHSL CORP NEWCOM0.10%$261,334361
43QCOMQUALCOMM INCCOM0.10%$249,6991.5K
44PFNPIMCO INCOME STRATEGY FD IICOM0.10%$248,11134.2K
45GOOGALPHABET INCCAP STK CL C0.09%$237,7841.5K
46UPSUNITED PARCEL SERVICE INCCL B0.09%$235,4691.6K
47A4SAMERIPRISE FINL INCCOM0.09%$234,233567
48CALAMOS CONV & HIGH INCOME FCOM SHS0.09%$231,11020.3K
49ISHARES U S ETF TRGSCI CMDTY STGY0.09%$225,7468.2K
50WMWASTE MGMT INC DELCOM0.09%$223,4771.1K
51PSAPUBLIC STORAGECOM0.09%$223,270852
52IBMINTERNATIONAL BUSINESS MACHSCOM0.09%$222,9451.2K
53BDXBECTON DICKINSON & COCOM0.09%$222,139950
54CSCOCISCO SYS INCCOM0.08%$210,5644.4K
55VANGUARD BD INDEX FDSTOTAL BND MRKT0.08%$209,1583.0K
56FFORD MTR CO DELCOM0.07%$188,04114.5K
57SBCSABRA HEALTH CARE REIT INCCOM0.06%$159,98511.7K
58HYTBLACKROCK CORPOR HI YLD FD ICOM0.05%$119,87512.5K
59VIRTUS CONVERTIBLE & INCOMECOM0.02%$55,84317.8K
60BARK INCCOM0.01%$19,93618.1K

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 ↗.