TNF LLC

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CIK 1849683

13F portfolio (2024-Q3)

$278M

Positions

125

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2024-Q2. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2024-Q3)

Holdings

125

Top 5

42.3%

Top 10

59.7%

Effective N

17.3

HHI

0.058

This quarter

6 new · 0 exit →

By sector

Unclassified89.2%

Information Technology3.3%

Health Care2.6%

Consumer Discretionary1.5%

Financials1.3%

Energy1.1%

Industrials0.4%

Real Estate0.3%

Other0.3%

By market cap

Unknown89.2%

Mega (>$200B)8.6%

Large ($10–200B)1.4%

Mid ($2–10B)0.5%

Micro (<$300M)0.2%

Small ($300M–2B)0.1%

By region

Other89.2%

North America10.8%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	89.50%	88
Pharmaceuticals & Biotechnology	2.54%	3
Technology Hardware & Equipment	1.97%	3
Specialty Retail	1.29%	5
Oil, Gas & Consumable Fuels	1.13%	3
Banks	0.89%	4
Semiconductors & Semiconductor Equipment	0.79%	3
Software	0.35%	1
Equity Real Estate Investment Trusts (REITs)	0.30%	3
Chemicals	0.23%	1
Automobiles & Components	0.19%	2
Road & Rail	0.18%	2
Machinery	0.15%	1
Software & IT Services	0.14%	2
Capital Markets	0.10%	1
Communications Equipment	0.09%	1
Health Care Equipment & Supplies	0.08%	1
Commercial Services & Supplies	0.08%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	IVV	ISHARES TR	Unclassified	17.39%
2	IUSB	ISHARES TR	Unclassified	9.22%
3	QUAL	ISHARES TR	Unclassified	5.29%
4	SPYM	SPDR SERIES TRUST	Unclassified	5.21%
5	IVW	ISHARES TR	Unclassified	5.21%
6	EFG	ISHARES TR	Unclassified	4.76%
7	DYNF	BLACKROCK ETF TRUST	Unclassified	4.28%
8	MBB	ISHARES TR	Unclassified	2.90%
9	EFV	ISHARES TR	Unclassified	2.80%
10	IVE	ISHARES TR	Unclassified	2.68%

38/125 names classified · sector 10.8% of weight · industry 10.5% · mkt cap 10.8%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 13 quarters

Health CareMRK, AMGN, ABBV, BDX, BMY · other

Information TechnologyAAPL, MSFT, AVGO, CSCO, NVDA · other

EnergyXOM, CVX, COP

FinancialsFIBK, EBMT, AXP, AMP, BRK.B · other

Consumer DiscretionaryHD, AMZN, F, COST, BBY · other

IndustrialsDE, UPS, WM, UNP, NOC

Real EstateSTAG, PSA, SBRA, ARI

MaterialsPPG, CLX

Utilities

Communication ServicesGOOG, BCE

UnclassifiedIVV, IUSB, ESGU, SPYM, GOVT · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 10.8% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2024-Q3), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 10% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (35 classified)TNF LLC centroid (Large Core)

Information TechnologyHealth CareConsumer DiscretionaryEnergyFinancialsIndustrialsMaterialsReal EstateCommunication Services

Style box summary for TNF LLC: centroid Large Core. Heaviest cells: Large Value 4.2%, Large Growth 3.6%, Large Core 1.3%.

Classified: 10.4% of book weight (35/125 names) · unclassified 89.6%: IVV, IUSB, QUAL, SPYM, IVW, EFG, DYNF, MBB, EFV, IVE +80 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 125 positions (2024-Q3) · largest first · Δ vs 2024-Q2

#	Security	Shares	Value	Weight	Δ QoQ
1	IVVISHARES TR	82,899	$48M	17.4%	HOLD
2	IUSBISHARES TR	556,013	$26M	9.2%	HOLD
3	QUALISHARES TR	81,688	$15M	5.3%	HOLD
4	SPYMSPDR SERIES TRUST	212,323	$14M	5.2%	TRIM −2%
5	IVWISHARES TR	148,921	$14M	5.2%	HOLD
6	EFGISHARES TR	128,626	$13M	4.8%	HOLD
7	DYNFBLACKROCK ETF TRUST	234,930	$12M	4.3%	HOLD
8	MBBISHARES TR	86,108	$8M	2.9%	HOLD
9	EFVISHARES TR	140,022	$8M	2.8%	TRIM −2%
10	IVEISHARES TR	37,591	$7M	2.7%	HOLD
11	IYWISHARES TR	46,286	$7M	2.6%	HOLD
12	ESGUISHARES TR	52,753	$7M	2.4%	HOLD
13	MRKMERCK & CO INC	59,724	$6M	2.3%	HOLD
14	IEMGISHARES INC	99,733	$6M	2.0%	TRIM −2%
15	SCHZSCHWAB STRATEGIC TR	226,457	$5M	1.9%	ADD 66%
16	TLTISHARES TR	51,280	$5M	1.7%	HOLD
17	AAPLAPPLE INC	20,041	$5M	1.7%	HOLD
18	EMXCISHARES INC	62,127	$4M	1.3%	HOLD
19	MUBISHARES TR	28,899	$3M	1.1%	TRIM −42%
20	BINCBLACKROCK ETF TRUST II	52,524	$3M	1.0%	HOLD
21	SPYSTATE STR SPDR S&P 500 ETF T	4,633	$3M	1.0%	HOLD
22	QQQINVESCO QQQ TR	5,404	$3M	1.0%	HOLD
23	XOMEXXON MOBIL CORP	20,553	$2M	0.9%	HOLD
24	HEFAISHARES CURRENCY HEDGED MSCI EAFE ETF	50,650	$2M	0.6%	TRIM −2%
25	IFRAISHARES U.S. INFRASTRUCTURE ETF	34,631	$2M	0.6%	HOLD
26	GOVTISHARES TR	65,132	$1M	0.5%	TRIM −2%
27	IWYISHARES TR	6,037	$1M	0.5%	HOLD
28	IJRISHARES TR	11,558	$1M	0.5%	TRIM −10%
29	AMZNAMAZON COM INC	7,071	$1M	0.5%	HOLD
30	JHMLJOHN HANCOCK EXCHANGE TRADED	17,871	$1M	0.4%	ADD 9%
31	IXUSISHARES TR	17,494	$1M	0.4%	HOLD
32	NVDANVIDIA CORPORATION	7,829	$1M	0.4%	ADD 7%
33	EMBISHARES TR	11,991	$1M	0.4%	HOLD
34	HDHOME DEPOT INC	2,679	$1M	0.4%	HOLD
35	TIPISHARES TR	9,816	$1M	0.4%	TRIM −3%
36	IJHISHARES TR	16,210	$1M	0.4%	HOLD
37	TFLOISHARES TR	19,894	$1M	0.4%	TRIM −6%
38	EFAISHARES TR	12,514	$1M	0.4%	HOLD
39	MSFTMICROSOFT CORP	2,314	$982,899	0.4%	HOLD
40	BRK.BBERKSHIRE HATHAWAY INC DEL	2,051	$938,886	0.3%	HOLD
41	GIGBGOLDMAN SACHS ETF TR	18,629	$858,983	0.3%	HOLD
42	VTVVANGUARD INDEX FDS	4,647	$812,490	0.3%	HOLD
43	FIBKFIRST INTST BANCSYSTEM INC	25,376	$812,280	0.3%	HOLD
44	COSTCOSTCO WHSL CORP NEW	888	$793,461	0.3%	HOLD
45	LQDISHARES TR	6,797	$744,725	0.3%	TRIM −6%
46	AVGOBROADCOM INC	4,190	$717,932	0.3%	HOLD
47	AXPAMERICAN EXPRESS CO	2,579	$696,399	0.3%	HOLD
48	IXNISHARES TR	8,363	$693,446	0.2%	HOLD
49	XMMOINVESCO EXCHANGE TRADED FD T	5,597	$681,938	0.2%	HOLD
50	PPGPPG INDS INC	5,047	$642,180	0.2%	HOLD
51	VOVANGUARD INDEX FDS	2,398	$638,381	0.2%	HOLD
52	VLUEISHARES TR	5,779	$630,089	0.2%	HOLD
53	EBMTEAGLE BANCORP MONT INC	37,868	$629,745	0.2%	HOLD
54	IWFISHARES TR	1,626	$619,761	0.2%	HOLD
55	USMVISHARES TR	6,725	$615,852	0.2%	HOLD
56	VGTVANGUARD WORLD FD	1,022	$612,301	0.2%	HOLD
57	ILCGISHARES TR	6,875	$589,531	0.2%	HOLD
58	CSCOCISCO SYS INC	10,155	$568,274	0.2%	HOLD
59	FTECFIDELITY COVINGTON TRUST	2,929	$521,817	0.2%	ADD 5%
60	DIASPDR DOW JONES INDL AVERAGE	1,201	$509,023	0.2%	HOLD
61	JHMDJOHN HANCOCK EXCHANGE TRADED	15,021	$508,610	0.2%	ADD 10%
62	DVYISHARES TR	3,685	$497,769	0.2%	TRIM −5%
63	VOOVANGUARD INDEX FDS	901	$479,822	0.2%	ADD 5%
64	CZAINVESCO EXCHANGE TRADED FD T	4,342	$473,181	0.2%	HOLD
65	DFUVDIMENSIONAL ETF TRUST	10,674	$447,454	0.2%	HOLD
66	DONWISDOMTREE TR	8,688	$446,134	0.2%	HOLD
67	AMGNAMGEN INC	1,380	$435,720	0.2%	HOLD
68	IHIISHARES TR	7,252	$430,177	0.2%	HOLD
69	VYMVANGUARD WHITEHALL FDS	3,285	$425,280	0.2%	HOLD
70	XLVSELECT SECTOR SPDR TR	2,806	$419,226	0.2%	HOLD
71	VUGVANGUARD INDEX FDS	1,072	$418,925	0.2%	HOLD
72	IJJISHARES TR	3,345	$416,235	0.1%	HOLD
73	CVXCHEVRON CORP NEW	2,745	$412,945	0.1%	HOLD
74	DEDEERE & CO	1,003	$412,303	0.1%	HOLD
75	IJKISHARES TR	4,430	$405,619	0.1%	HOLD
76	PEYINVESCO EXCHANGE TRADED FD T	18,610	$405,512	0.1%	HOLD
77	TSLATESLA INC	1,437	$374,310	0.1%	HOLD
78	XLCSELECT SECTOR SPDR TR	4,101	$371,634	0.1%	HOLD
79	IWPISHARES TR	3,083	$371,599	0.1%	HOLD
80	STAGSTAG INDL INC	9,777	$369,668	0.1%	HOLD
81	ADIANALOG DEVICES INC	1,595	$366,309	0.1%	HOLD
82	HDVISHARES TR	3,054	$362,274	0.1%	HOLD
83	TJXTJX COS INC NEW	3,090	$352,878	0.1%	HOLD
84	ICVTISHARES TR CONV BD ETF	4,142	$349,219	0.1%	HOLD
85	OEFISHARES TR	1,230	$344,892	0.1%	HOLD
86	SUBISHARES TR	3,225	$340,367	0.1%	HOLD
87	JPMJPMORGAN CHASE & CO	1,495	$336,369	0.1%	HOLD
88	IWNISHARES TR	2,013	$333,675	0.1%	ADD 3%
89	JHMMJOHN HANCOCK EXCHANGE TRADED	5,318	$320,451	0.1%	ADD 9%
90	GLDSPDR GOLD TR	1,235	$312,208	0.1%	HOLD
91	XPMAXPIONEER MUNICIPAL HIGH INCOM	36,214	$309,629	0.1%	HOLD
92	ABBVABBVIE INC	1,510	$286,452	0.1%	TRIM −10%
93	AMPAMERIPRISE FINL INC	567	$286,060	0.1%	HOLD
94	XLYSELECT SECTOR SPDR TR	1,383	$276,849	0.1%	HOLD
95	UNPUNION PAC CORP	1,192	$275,105	0.1%	NEW
96	MTUMISHARES TR	1,302	$269,530	0.1%	HOLD
97	IWMISHARES TR	1,216	$267,180	0.1%	HOLD
98	TLHISHARES TR	2,559	$266,370	0.1%	HOLD
99	IBMINTERNATIONAL BUSINESS MACHS	1,211	$264,470	0.1%	HOLD
100	IXCISHARES TR	6,433	$264,324	0.1%	HOLD
101	JHEMJOHN HANCOCK EXCHANGE TRADED	9,436	$263,069	0.1%	ADD 5%
102	AGGISHARES TR	2,646	$261,398	0.1%	HOLD
103	PSAPUBLIC STORAGE OPER CO	770	$260,433	0.1%	TRIM −10%
104	COPCONOCOPHILLIPS	2,490	$259,830	0.1%	HOLD
105	QCOMQUALCOMM INC	1,526	$256,521	0.1%	HOLD
106	PFNPIMCO INCOME STRATEGY FD II	34,175	$255,287	0.1%	HOLD
107	BNDVANGUARD BD INDEX FDS	3,468	$254,250	0.1%	ADD 7%
108	XLISELECT SECTOR SPDR TR	1,807	$245,318	0.1%	HOLD
109	ESGEISHARES INC	6,808	$244,002	0.1%	TRIM −69%
110	GOOGALPHABET INC	1,476	$242,862	0.1%	HOLD
111	DGROISHARES CORE DIVIDEND GROWTH ETF	3,693	$232,327	0.1%	NEW
112	BDXBECTON DICKINSON & CO	950	$226,689	0.1%	HOLD
113	WMWASTE MGMT INC DEL	1,031	$215,386	0.1%	HOLD
114	UPSUNITED PARCEL SERVICE INC	1,550	$214,418	0.1%	NEW
115	DFAXDIMENSIONAL ETF TRUST	8,109	$211,565	0.1%	HOLD
116	VBRVANGUARD INDEX FDS	1,044	$209,145	0.1%	NEW
117	VEAVANGUARD TAX-MANAGED FDS	4,114	$208,474	0.1%	HOLD
118	IYFISHARES TR	1,893	$205,598	0.1%	NEW
119	SBRASABRA HEALTH CARE REIT INC	10,616	$201,810	0.1%	HOLD
120	XCHYXCALAMOS CONV & HIGH INCOME F	16,207	$195,291	0.1%	HOLD
121	FFORD MTR CO	14,559	$163,642	0.1%	HOLD
122	NRDSNERDWALLET INC	14,000	$153,860	0.1%	NEW
123	HYTBLACKROCK CORPOR HI YLD FD I	12,461	$122,367	0.0%	HOLD
124	VIRTUS CONVERTIBLE INCOME	16,875	$58,555	0.0%	HOLD
125	BARKBARK INC	18,124	$25,192	0.0%	HOLD

☆TNF LLC