Tandem Financial, LLC

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CIK 2049157

13F portfolio (2026-Q1)

$296M

Positions

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. 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 (2026-Q1)

Holdings

Top 5

36.3%

Top 10

52.3%

Effective N

22.6

HHI

0.044

This quarter

54 new · 0 exit →

By sector

Unclassified91.4%

Information Technology2.2%

Industrials2.1%

Materials1.3%

Consumer Staples0.9%

Communication Services0.8%

Consumer Discretionary0.4%

Energy0.4%

Other0.4%

By market cap

Unknown91.7%

Mega (>$200B)4.8%

Large ($10–200B)2.8%

Mid ($2–10B)0.7%

By region

Other91.4%

North America8.3%

Europe0.2%

Asia-Pacific0.1%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	91.61%	71
Construction & Engineering	1.96%	1
Metals & Mining	1.25%	3
Software	1.02%	2
Tobacco	0.94%	2
Software & IT Services	0.79%	2
Technology Hardware & Equipment	0.76%	1
Oil, Gas & Consumable Fuels	0.43%	2
Semiconductors & Semiconductor Equipment	0.40%	3
Specialty Retail	0.36%	3
Machinery	0.18%	1
Equity Real Estate Investment Trusts (REITs)	0.14%	1
Automobiles & Components	0.07%	1
Pharmaceuticals & Biotechnology	0.07%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	IVV	ISHARES TR	Unclassified	14.37%
2	BIV	VANGUARD BD INDEX FDS	Unclassified	7.95%
3	GDX	VANECK ETF TRUST GOLD MINERS ETF	Unclassified	5.20%
4	VEA	VANGUARD TAX-MANAGED FDS	Unclassified	4.52%
5	FNDE	SCHWAB STRATEGIC TR	Unclassified	4.26%
6	QQQ	INVESCO QQQ TR	Unclassified	4.06%
7	SPY	STATE STR SPDR S&P 500 ETF T	Unclassified	3.85%
8	IMCG	ISHARES TR	Unclassified	2.86%
9	JQUA	J P MORGAN EXCHANGE TRADED F	Unclassified	2.66%
10	ILCV	ISHARES TR	Unclassified	2.55%

24/94 names classified · sector 8.6% of weight · industry 8.4% · mkt cap 8.3%; unclassified names shown, never dropped.

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

top 5/sector, rest → “Other” · 6 quarters

Information TechnologyMSFT, AAPL, NVDA, ORCL, TWLO · other

IndustrialsPWR, CARR, WU

Consumer StaplesPM, MO

MaterialsMP, NEM, RIO

Communication ServicesGOOG, GOOGL, SKM, VZ

Real EstateCXW, NLY

EnergyXOM, CVX, HP, DVN, PBR

Consumer DiscretionaryAMZN, COST, WMT, TSLA, SPH · other

FinancialsBRK.B, KKR, FHN, HBAN

Health CareINCY, JNJ, CRON

UtilitiesXEL, EPD

UnclassifiedGDX, VGLT, IVV, SPY, IWF · 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: 8.6% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 7% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (20 classified)Tandem Financial, LLC centroid (Large Core)

IndustrialsInformation TechnologyConsumer StaplesCommunication ServicesConsumer DiscretionaryEnergyMaterialsReal EstateHealth Care

Style box summary for Tandem Financial, LLC: centroid Large Core. Heaviest cells: Large Growth 4.8%, Large Value 1.4%, Large Core 0.9%.

Classified: 7.4% of book weight (20/94 names) · unclassified 92.6%: IVV, BIV, GDX, VEA, FNDE, QQQ, SPY, IMCG, JQUA, ILCV +64 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· 94 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	IVVISHARES TR	65,017	$42M	14.4%	ADD 17284%
2	BIVVANGUARD BD INDEX FDS	304,306	$23M	7.9%	NEW
3	GDXVANECK ETF TRUST GOLD MINERS ETF	167,482	$15M	5.2%	TRIM −25%
4	VEAVANGUARD TAX-MANAGED FDS	208,410	$13M	4.5%	NEW
5	FNDESCHWAB STRATEGIC TR	328,742	$13M	4.3%	NEW
6	QQQINVESCO QQQ TR	20,766	$12M	4.1%	NEW
7	SPYSTATE STR SPDR S&P 500 ETF T	17,460	$11M	3.9%	ADD 119%
8	IMCGISHARES TR	107,479	$8M	2.9%	ADD 64%
9	JQUAJ P MORGAN EXCHANGE TRADED F	128,105	$8M	2.7%	NEW
10	ILCVISHARES TR	80,837	$8M	2.5%	NEW
11	CLOIVANECK ETF TRUST	129,819	$7M	2.3%	NEW
12	VGLTVANGUARD SCOTTSDALE FDS	120,674	$7M	2.3%	TRIM −21%
13	JBNDJ P MORGAN EXCHANGE TRADED F	108,198	$6M	2.0%	NEW
14	PWRQUANTA SVCS INC	10,557	$6M	2.0%	NEW
15	AAAUGOLDMAN SACHS PHYSICAL GOLD	119,160	$6M	1.9%	NEW
16	IUSINVESCO EXCH TRD SLF IDX FD	88,623	$5M	1.7%	NEW
17	BNDXVANGUARD CHARLOTTE FDS	101,937	$5M	1.7%	NEW
18	GLDSPDR GOLD TR	10,090	$4M	1.5%	HOLD
19	IWFISHARES TR	10,081	$4M	1.5%	TRIM −46%
20	IWDISHARES TR	19,361	$4M	1.4%	TRIM −47%
21	IWMISHARES TR	15,799	$4M	1.3%	ADD 243%
22	DFAUDIMENSIONAL ETF TRUST	84,868	$4M	1.3%	NEW
23	GPIQGOLDMAN SACHS ETF TR	67,944	$3M	1.1%	NEW
24	VWOVANGUARD INTL EQUITY INDEX F	61,571	$3M	1.1%	ADD 409%
25	VBVANGUARD INDEX FDS	12,307	$3M	1.1%	NEW
26	GPIXGOLDMAN SACHS ETF TR	63,191	$3M	1.1%	NEW
27	FLXRTCW ETF TRUST	77,705	$3M	1.0%	ADD 88%
28	ITAIShares U.S. Aerospace & Defense ETF	12,872	$3M	1.0%	TRIM −13%
29	XSWSPDR SERIES TRUST	19,355	$3M	0.9%	ADD 265%
30	MSFTMICROSOFT CORP	7,250	$3M	0.9%	ADD 44%
31	URNMSPROTT FDS TR	41,119	$3M	0.9%	ADD 17%
32	DFICDIMENSIONAL ETF TRUST	72,455	$3M	0.9%	NEW
33	DFACDIMENSIONAL ETF TRUST	63,795	$2M	0.8%	NEW
34	PMPHILIP MORRIS INTL INC	14,238	$2M	0.8%	TRIM −20%
35	AAPLAPPLE INC	8,899	$2M	0.8%	ADD 3%
36	DFAEDIMENSIONAL ETF TRUST	60,853	$2M	0.7%	NEW
37	MPMP MATERIALS CORP	41,866	$2M	0.7%	TRIM −5%
38	AMLPALPS ETF TR	35,629	$2M	0.6%	ADD 167%
39	UBNDVICTORY PORTFOLIOS II	83,732	$2M	0.6%	NEW
40	KNGFIRST TR EXCHANGE-TRADED FD	33,176	$2M	0.5%	TRIM −75%
41	GOOGLALPHABET INC	4,400	$1M	0.4%	ADD 11%
42	NUVNUVEEN MUN VALUE FD INC	139,794	$1M	0.4%	ADD 9%
43	JMUBJPMORGAN MUNICIPAL ETF	25,194	$1M	0.4%	NEW
44	EMLPFirst TR. Ex. Tr. FD N. American Energy	28,352	$1M	0.4%	ADD 11%
45	DUHPDIMENSIONAL ETF TRUST	32,980	$1M	0.4%	NEW
46	MLPXGLOBAL X FDS	15,914	$1M	0.4%	NEW
47	PFXFVANECK ETF TRUST	67,057	$1M	0.4%	ADD 107%
48	VUGVANGUARD INDEX FDS	2,667	$1M	0.4%	NEW
49	GRNYTidal TR Fundstrat Granny Shots US LC ETF	46,048	$1M	0.4%	NEW
50	NEMNEWMONT CORP	10,145	$1M	0.4%	ADD 65%
51	DFGPDIMENSIONAL ETF TRUST	20,009	$1M	0.4%	NEW
52	SPABSPDR SERIES TRUST	41,291	$1M	0.4%	NEW
53	GOOGALPHABET INC	3,683	$1M	0.4%	ADD 16%
54	VBKVANGUARD INDEX FDS	3,125	$944,532	0.3%	TRIM −76%
55	DFIVDIMENSIONAL ETF TRUST	17,677	$932,993	0.3%	NEW
56	IEFISHARES TR	9,671	$923,001	0.3%	NEW
57	DFEVDIMENSIONAL ETF TRUST	21,019	$752,060	0.3%	NEW
58	MDSTULTIMUS MANAGERS TR	25,593	$737,719	0.2%	NEW
59	IJRISHARES TR	5,811	$722,356	0.2%	NEW
60	NVDANVIDIA CORPORATION	4,110	$716,827	0.2%	TRIM −7%
61	CVXCHEVRON CORP NEW	3,211	$664,320	0.2%	ADD 128%
62	VCLTVANGUARD SCOTTSDALE FDS	8,342	$623,315	0.2%	NEW
63	DFSVDIMENSIONAL ETF TRUST	17,122	$599,955	0.2%	NEW
64	XOMEXXON MOBIL CORP	3,515	$596,315	0.2%	TRIM −10%
65	RIORIO TINTO PLC	6,143	$589,025	0.2%	ADD 35%
66	VTVVANGUARD INDEX FDS	2,985	$585,737	0.2%	NEW
67	DGROISHARES CORE DIVIDEND GROWTH ETF	8,171	$573,449	0.2%	NEW
68	AMZNAMAZON COM INC	2,669	$555,873	0.2%	ADD 43%
69	BRK.BBERKSHIRE HATHAWAY INC DEL	1,138	$545,330	0.2%	ADD 139%
70	CARRCARRIER GLOBAL CORPORATION	9,386	$528,505	0.2%	TRIM −23%
71	SCHDSCHWAB STRATEGIC TR	15,769	$483,803	0.2%	NEW
72	NLYANNALY CAPITAL MANAGEMENT IN	19,476	$425,551	0.1%	ADD 13%
73	MOALTRIA GROUP INC	6,188	$415,045	0.1%	TRIM −52%
74	VTEBVANGUARD MUN BD FDS	7,969	$397,574	0.1%	NEW
75	SDSIAMERICAN CENTY ETF TR	6,938	$355,844	0.1%	NEW
76	SCHVSCHWAB STRATEGIC TR	11,213	$341,997	0.1%	NEW
77	XLKSELECT SECTOR SPDR TR	2,522	$335,180	0.1%	NEW
78	ORCLORACLE CORP	2,276	$334,836	0.1%	TRIM −8%
79	VONEVanguard Russell 1000 ETF	1,124	$331,715	0.1%	NEW
80	VCRMVANGUARD MUN BD FDS	3,738	$280,902	0.1%	NEW
81	PZAINVESCO EXCH TRADED FD TR II	11,967	$275,002	0.1%	NEW
82	SLVISHARES SILVER TR	4,034	$274,877	0.1%	NEW
83	TLTISHARES TR	3,150	$273,074	0.1%	HOLD
84	VBRVANGUARD INDEX FDS	1,205	$261,787	0.1%	NEW
85	AVGOBROADCOM INC	846	$261,744	0.1%	NEW
86	WMTWALMART INC	2,083	$259,391	0.1%	NEW
87	COSTCOSTCO WHSL CORP NEW	260	$259,201	0.1%	ADD 18%
88	ESGVVanguard ESG US Stock - ETF	2,159	$242,383	0.1%	NEW
89	MUBISHARES TR	2,093	$222,172	0.1%	NEW
90	MLNVANECK ETF TRUST	12,371	$215,751	0.1%	NEW
91	VTVANGUARD INTL EQUITY INDEX F	1,550	$214,396	0.1%	TRIM −29%
92	TSLATESLA INC	572	$212,641	0.1%	NEW
93	JNJJOHNSON & JOHNSON	869	$212,419	0.1%	NEW
94	TSMTAIWAN SEMICONDUCTOR MFG LTD	606	$205,367	0.1%	NEW

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

IVVISHARES TR

374

422

80K

374

65K

$42M

BIVVANGUARD BD INDEX FDS

—

274K

—

304K

$23M

GDXVANECK ETF TRUST GOLD MINERS ETF

225K

223K

181K

189K

223K

167K

$15M

VEAVANGUARD TAX-MANAGED FDS

—

44K

—

208K

$13M

FNDESCHWAB STRATEGIC TR

—

256K

281K

—

329K

$13M

QQQINVESCO QQQ TR

11K

16K

—

21K

$12M

SPYSTATE STR SPDR S&P 500 ETF T

15K

16K

17K

$11M

IMCGISHARES TR

66K

89K

94K

65K

107K

$8M

JQUAJ P MORGAN EXCHANGE TRADED F

—

117K

—

128K

$8M

ILCVISHARES TR

—

66K

—

81K

$8M

CLOIVANECK ETF TRUST

—

110K

—

130K

$7M

VGLTVANGUARD SCOTTSDALE FDS

154K

149K

133K

127K

153K

121K

$7M

JBNDJ P MORGAN EXCHANGE TRADED F

—

105K

—

108K

$6M

PWRQUANTA SVCS INC

12K

11K

—

11K

$6M

AAAUGOLDMAN SACHS PHYSICAL GOLD

—

163K

—

119K

$6M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Tandem Financial, LLC