TNF LLC

CIK

1849683

Location

BILLINGS, MT

Portfolio Value

Small $272,579,634

Diversification

Highly concentrated

Filing Date

Global Rank

#4,501 / 7,447 ▼ 103 · as of Sep 2024

Top Industry

Drug Manufacturers - General 24.2%

Period ended 2 years ago

Filed Oct 25, 2024 · 2y

13 quarters · since Sep 2021

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2024, never from the firm's own description.

Style

Concentrated

The top 10 positions are 87.4% of the book (60%+)

Turnover

Low turnover

28.4% over the last four quarters (under 30%)

Horizon

Medium horizon

Value-weighted holding period 10.5 quarters (4 to under 12)

Closest benchmark: every 13F filer's combined book, active share 84.1%; sector active share 76.5% against the combined 13F book's sector weights.

Over time 13 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

124 tracked positions · as of Sep 30, 2024 · Δ vs Jun 30, 2024

Top Position

64.8%

+0.0 pts

Top 5

80.8%

−0.3 pts

Top 10

87.4%

−0.6 pts

HHI

4,280

Highly concentrated+2

Portfolio Trend

13 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2024

Sector	% Portfolio	Value	Positions
Unclassified	88.6%	$241,532,941	82
Technology	3.2%	$8,773,588	8
Healthcare	2.8%	$7,754,144	4
Financial Services	1.6%	$4,239,685	10
Consumer Cyclical	1.2%	$3,325,514	6
Energy	1.1%	$3,075,625	3
Industrials	0.4%	$1,137,747	4
Real Estate	0.3%	$859,924	3
Consumer Defensive	0.3%	$787,229	1
Basic Materials	0.2%	$668,525	1
Communication Services	0.2%	$424,712	2

Last Quarter's Activity

Export CSV

Sep 30, 2024 vs Jun 30, 2024

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AVGO	Broadcom Inc.	+3,771	4,190	$722,775
JHML	John Hancock Multifactor Large Cap ETF	+1,446	17,871	$1,240,962
JHMD	John Hancock Multifactor Developed International ETF	+1,307	15,021	$531,142
NVDA	Nvidia Corp	+494	7,829	$950,753
JHEM	John Hancock Multifactor Emerging Markets ETF	+471	9,436	$269,869
JHMM	John Hancock Multifactor Mid Cap ETF	+455	5,318	$320,143
FIBK	First Interstate Bancsystem Inc	+367	25,376	$778,535
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	+224	3,468	$260,481
FTEC	Fidelity MSCI Information Technology Index ETF	+140	2,929	$511,110
CHY	Calamos Convertible & High Income Fund	+86	16,207	$193,349
NCV	Virtus Convertible & Income Fund	+66	16,875	$59,062
IXUS	iShares Core MSCI Total International Stock ETF	+65	17,494	$1,270,589
DFAX	Dimensional World ex. U.S. Core Equity 2 ETF	+55	8,109	$219,024
—		+51	2,013	$335,808
VTV	VANGUARD VALUE INDEX FUND	+50	4,647	$811,226
VOO	VANGUARD 500 INDEX FUND	+46	901	$475,430
DON	WisdomTree U.S. Midcap Dividend Fund	+29	8,688	$444,217
TLH	iShares 10-20 Year Treasury Bond ETF	+29	2,559	$279,775
F	Ford Motor Co	+20	14,559	$153,743
AAPL	Apple Inc.	+16	20,041	$4,669,553
VYM	VANGUARD HIGH DIVIDEND YIELD INDEX FUND	+14	3,285	$421,137
VUG	VANGUARD GROWTH INDEX FUND	+13	1,072	$411,572
SUB	iShares Short-Term National Muni Bond ETF	+12	3,225	$342,462
IJJ	iShares S&P Mid-Cap 400 Value ETF	+10	3,345	$413,508
IJK	iShares S&P Mid-Cap 400 Growth ETF	+5	4,430	$407,249
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
SCHZ	Schwab U.S. Aggregate Bond ETF	−23,164	113,229	$5,380,642
MUB	iShares National Muni Bond ETF	−20,879	28,899	$3,139,298
ESGE	iShares Trust	−14,868	6,808	$0
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	−4,594	212,323	$14,333,925
IUSB	iShares Core Universal USD Bond ETF	−3,822	556,013	$26,199,332
EFV	iShares MSCI EAFE Value ETF	−3,573	140,022	$8,055,465
IEMG	iShares Trust	−2,269	99,733	$0
GOVT	iShares U.S. Treasury Bond ETF	−1,608	65,132	$1,527,345
DYNF	iShares U.S. Equity Factor Rotation Active ETF	−1,432	234,930	$11,621,987
TFLO	iShares Treasury Floating Rate Bond ETF	−1,279	19,894	$1,006,636
IVV	iShares Core S&P 500 ETF	−1,233	82,899	$47,817,801
IJR	iShares Core S&P Small-Cap ETF	−1,215	11,558	$1,351,823
HEFA	iShares Currency Hedged MSCI EAFE ETF	−1,160	50,650	$1,794,023
EFG	iShares MSCI EAFE Growth ETF	−1,094	128,626	$13,846,588
IVW	iShares S&P 500 Growth ETF	−945	148,921	$14,259,185
MBB	iShares MBS ETF	−944	86,108	$8,250,007
MRK	Merck & Co., Inc.	−882	59,724	$6,782,257
TLT	iShares 20+ Year Treasury Bond ETF	−744	51,280	$5,030,568
QUAL	iShares MSCI USA Quality Factor ETF	−610	81,688	$14,646,658
EMXC	iShares MSCI Emerging Markets ex China ETF	−507	62,127	$3,796,580
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	−449	6,797	$767,925
IYW	iShares, Inc.	−442	46,286	$7,017,883
BINC		−389	52,524	$2,811,609
IFRA	iShares U.S. Infrastructure ETF	−381	34,631	$1,626,618
IVE	iShares S&P 500 Value ETF	−333	37,591	$7,411,817
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
UNP	Union Pacific Corp	1,192	$293,804
DGRO	iShares Core Dividend Growth ETF	3,693	$231,514
UPS	United Parcel Service Inc	1,550	$211,327
VBR	VANGUARD SMALL-CAP VALUE INDEX FUND	1,044	$209,614
IYF	iShares U.S. Financials ETF	1,893	$196,682
NRDS	Nerdwallet, Inc.	14,000	$177,940
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
—		3,094	$231,369
SCHG	Schwab U.S. Large-Cap Growth ETF	2,142	$215,999
COMT	iShares GSCI Commodity Dynamic Roll Strategy ETF	7,729	$211,078
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

124 tracked positions · $272,579,634 total · filing declares 125 positions · $277,511,551 · as of Sep 30, 2024

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 124 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
IVV	iShares Core S&P 500 ETF	Reduced	82,899	-1,233	$47,817,801	+3.9%	13	before history	17.54%
IUSB	iShares Core Universal USD Bond ETF	Reduced	556,013	-3,822	$26,199,332	+3.5%	13	before history	9.61%
QUAL	iShares MSCI USA Quality Factor ETF	Reduced	81,688	-610	$14,646,658	+4.2%	7	unpriced	5.37%
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	Reduced	212,323	-4,594	$14,333,925	+3.3%	13	before history	5.26%
IVW	iShares S&P 500 Growth ETF	Reduced	148,921	-945	$14,259,185	+2.8%	5	unpriced	5.23%
EFG	iShares MSCI EAFE Growth ETF	Reduced	128,626	-1,094	$13,846,588	+4.3%	13	before history	5.08%
DYNF	iShares U.S. Equity Factor Rotation Active ETF	Reduced	234,930	-1,432	$11,621,987	+4.8%	3	$43.41	4.26%
MBB	iShares MBS ETF	Reduced	86,108	-944	$8,250,007	+3.2%	13	before history	3.03%
EFV	iShares MSCI EAFE Value ETF	Reduced	140,022	-3,573	$8,055,465	+5.8%	13	before history	2.96%
IVE	iShares S&P 500 Value ETF	Reduced	37,591	-333	$7,411,817	+7.4%	3	unpriced	2.72%
IYW	iShares, Inc.	Reduced	46,286	-442	$7,017,883	−0.2%	8	$89.80	2.57%
MRK	Merck & Co., Inc. Healthcare	Reduced	59,724	-882	$6,782,257	−9.6%	13	before history	2.49%
ESGU	iShares ESG Aware MSCI USA ETF	Reduced	52,753	-218	$6,656,373	+5.3%	13	before history	2.44%
SCHZ	Schwab U.S. Aggregate Bond ETF	Reduced	113,229	-23,164	$5,380,642	−13.4%	11	unpriced	1.97%
TLT	iShares 20+ Year Treasury Bond ETF	Reduced	51,280	-744	$5,030,568	+5.4%	13	before history	1.85%
AAPL	Apple Inc. Technology	Added	20,041	+16	$4,669,553	+10.7%	13	before history	1.71%
EMXC	iShares MSCI Emerging Markets ex China ETF	Reduced	62,127	-507	$3,796,580	+2.4%	4	$55.19	1.39%
MUB	iShares National Muni Bond ETF	Reduced	28,899	-20,879	$3,139,298	−40.8%	13	before history	1.15%
BINC		Reduced	52,524	-389	$2,811,609	+1.8%	3	$52.12	1.03%
SPY	Spdr S&P 500 ETF Trust	Reduced	4,633	-1	$2,658,230	+5.4%	13	before history	0.98%
QQQ	Invesco Qqq Trust, Series 1	Reduced	5,404	-10	$2,637,530	+1.7%	13	before history	0.97%
XOM	ExxonMobil Holdings Corp Energy	Reduced	20,553	-158	$2,409,222	+1.0%	13	before history	0.88%
HEFA	iShares Currency Hedged MSCI EAFE ETF	Reduced	50,650	-1,160	$1,794,023	−2.6%	2	unpriced	0.66%
IFRA	iShares U.S. Infrastructure ETF	Reduced	34,631	-381	$1,626,618	+10.3%	10	unpriced	0.60%
GOVT	iShares U.S. Treasury Bond ETF	Reduced	65,132	-1,608	$1,527,345	+1.4%	13	before history	0.56%
IJR	iShares Core S&P Small-Cap ETF	Reduced	11,558	-1,215	$1,351,823	−0.8%	13	before history	0.50%
		Held	6,037	0	$1,328,441	+2.6%	13	before history	0.49%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	7,071	-23	$1,317,539	−3.9%	13	before history	0.48%
IXUS	iShares Core MSCI Total International Stock ETF	Added	17,494	+65	$1,270,589	+7.9%	13	before history	0.47%
JHML	John Hancock Multifactor Large Cap ETF	Added	17,871	+1,446	$1,240,962	+16.2%	8	$54.38	0.46%
EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	Reduced	11,991	-87	$1,122,117	+5.0%	13	before history	0.41%
HD	Home Depot, Inc. Consumer Cyclical	Held	2,679	0	$1,085,530	+17.7%	13	before history	0.40%
TIP	iShares TIPS Bond ETF	Reduced	9,816	-286	$1,084,373	+0.5%	13	before history	0.40%
EFA	iShares MSCI EAFE ETF	Held	12,514	0	$1,046,545	+6.8%	13	before history	0.38%
IJH	iShares Core S&P Mid-Cap ETF	Reduced	16,210	-28	$1,010,207	+6.3%	13	before history	0.37%
TFLO	iShares Treasury Floating Rate Bond ETF	Reduced	19,894	-1,279	$1,006,636	−6.2%	5	unpriced	0.37%
MSFT	Microsoft Corp Technology	Added	2,314	+1	$995,714	−3.7%	13	before history	0.37%
NVDA	Nvidia Corp Technology	Added	7,829	+494	$950,753	+4.9%	4	$52.69	0.35%
BRK-B	Berkshire Hathaway Inc Financial Services	Held	2,051	0	$943,993	+13.1%	2	$408.62	0.35%
GIGB	Goldman Sachs Access Investment Grade Corporate Bond ETF	Reduced	18,629	-49	$881,524	+4.3%	2	$45.04	0.32%
VTV	VANGUARD VALUE INDEX FUND	Added	4,647	+50	$811,226	+10.0%	4	unpriced	0.30%
COST	Costco Wholesale Corp Consumer Defensive	Added	888	+2	$787,229	+4.5%	4	$708.34	0.29%
FIBK	First Interstate Bancsystem Inc Financial Services	Added	25,376	+367	$778,535	+12.1%	13	before history	0.29%
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Reduced	6,797	-449	$767,925	−1.1%	13	before history	0.28%
AVGO	Broadcom Inc. Technology	Added	4,190	+3,771	$722,775	+7.4%	13	before history	0.27%
AXP	American Express Co Financial Services	Held	2,579	0	$699,424	+17.1%	13	before history	0.26%
IXN	iShares Global Tech ETF	Held	8,363	0	$690,198	−0.4%	13	before history	0.25%
XMMO	Victory Portfolios II	Held	5,597	0	$673,487	+5.6%	13	before history	0.25%
PPG	Ppg Industries Inc Basic Materials	Held	5,047	0	$668,525	+5.2%	13	before history	0.25%
VO	VANGUARD MID-CAP INDEX FUND	Added	2,398	+1	$632,664	+9.0%	13	before history	0.23%

Showing the top 50 of 124 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.