Northeast Financial Group, Inc.

Registered adviser

CIK

1965773

Location

Allentown, PA

Portfolio Value

Small $403,833,617

Diversification

Moderately concentrated

Reports for

Herbein Financial Group

Filing Date

Global Rank

#4,056 / 8,827 ▼ 199 · as of Mar 2026

Top Industry

Auto Manufacturers 20.0%

Period ended 7 months ago

Filed May 15, 2026 · 6mo

22 quarters · since Dec 2020

Regulatory profile

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

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 122609

Roster of Nov 1, 2026

Regulatory AUM

$1,442,742,559

Main clients

Diversified

Private funds

4 funds · Mixed

Focus by gross assets, Schedule D of Dec 12, 2024

$22,390,796 gross assets

Private funds on Schedule D 7.B.(1)

As filed Dec 12, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$23,331,057 gross assets in 4 funds Real estate funds $9,881,008 (2) Other private funds $9,325,049 (1) Securitized asset funds $4,125,000 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$1,442,742,559	Diversified
Apr 2025 to Mar 2026	$1,205,206,195	Diversified
Apr 2024 to Mar 2025	$1,000,469,143	Pension and profit sharing plans (59%)
May 2023 to Mar 2024	$775,066,299	Diversified
Apr 2023	$775,066,299	Diversified
Aug 2022 to Mar 2023	$864,734,210	Diversified

4 earlier changes not shown.

Stated strategy

Multi-asset, Fundamental active, Fixed income / rates, Private markets, Wealth management / planning Form ADV Part 2A, Jul 28, 2026 · original

In the firm's words

Multi-asset: NEFG’s asset allocation analysis involves a strategy in which NEFG seeks to balance risk and reward by apportioning portfolio assets among various asset classes according to an individual’s objectives, time horizon and risk tolerance.
Fundamental active: NEFG analyzes the financial condition, capabilities of management, earnings, new products and services, as well as the company’s markets and position amongst its competitors in order to determine the recommendations made to clients.
Fixed income / rates: NEFG primarily allocates clients’ investment management assets among mutual funds, exchange-traded funds (“ETFs”), individual debt and equity securities, and/or Independent Managers (as defined below), as well as any other investment that we determine is suitable and appropriate for our clients.
Private markets: Robert L. Hackenberg serves as the managing member to affiliated private investment funds, H&L Capital Group, LLC, H&L Capital II, LLC.
Wealth management / planning: NEFG offers clients a broad range of comprehensive financial planning and consulting services, addressing a variety of matters.

Portfolio style

Measured from the filed 13F common-share book for Mar 31, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 87.6% of the book (60%+)

Turnover

Low turnover

22.8% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 13.5 quarters (12+)

Closest benchmark: every 13F filer's combined book, active share 87.8%; sector active share 82.4% against the combined 13F book's sector weights.

Over time 22 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

76 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

44.5%

+4.0 pts

Top 5

73.7%

−0.5 pts

Top 10

86.9%

+0.1 pts

HHI

2,325

Moderately concentrated+238

Portfolio Trend

22 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Unclassified	94.2%	$380,467,098	49
Technology	2.1%	$8,576,639	5
Consumer Cyclical	1.5%	$6,132,157	4
Communication Services	0.9%	$3,491,519	4
Consumer Defensive	0.5%	$2,014,427	5
Healthcare	0.3%	$1,024,433	3
Financial Services	0.2%	$972,053	3
Utilities	0.1%	$565,589	1
Energy	0.1%	$319,387	1
Real Estate	0.1%	$270,315	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

12 positions

Ticker	Company	Δ Shares	Shares	Value
SCHP	Schwab U.S. TIPS ETF	+247,047	379,803	$10,106,557
SCHX	Schwab U.S. Large-Cap ETF	+157,752	2,141,313	$54,903,265
SPHY	State Street(R) SPDR(R) Portfolio High Yield Bond ETF	+109,480	429,967	$10,026,830
SCHZ	Schwab U.S. Aggregate Bond ETF	+37,141	290,058	$6,735,146
JAAA	Janus Henderson AAA CLO ETF	+26,787	200,651	$10,106,790
SCHG	Schwab U.S. Large-Cap Growth ETF	+17,573	752,372	$21,916,596
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	+4,933	37,341	$2,960,021
VNQ	VANGUARD REAL ESTATE INDEX FUND	+3,536	133,902	$11,877,107
SCHA	Schwab U.S. Small-Cap ETF	+3,522	94,042	$2,734,741
SGOL	abrdn Gold ETF Trust	+717	9,670	$431,475
ALT	Altimmune, Inc.	+248	13,641	$42,014
NFLX	Netflix Inc	+17	3,637	$349,697
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
GPIX	Goldman Sachs S&P 500 Premium Income ETF	−230,003	93,037	$4,655,571
SCHF	Schwab International Equity ETF	−99,130	811,818	$20,092,495
SCHM	Schwab U.S. Mid-Cap ETF	−82,706	807,726	$25,007,196
SCHO	Schwab Short-Term U.S. Treasury ETF	−71,633	522,603	$12,683,574
SCHV	Schwab U.S. Large-Cap Value ETF	−56,763	549,657	$16,764,538
USHY	iShares Broad USD High Yield Corporate Bond ETF	−56,363	373,064	$13,743,677
JEPI	JPMorgan Equity Premium Income ETF	−30,161	150,184	$8,512,429
MUB	iShares National Muni Bond ETF	−29,586	121,903	$12,940,003
PZA	Invesco National AMT-Free Municipal Bond ETF	−25,635	65,599	$1,507,465
SCHD	Schwab U.S. Dividend Equity ETF	−24,812	258,864	$7,941,947
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	−22,775	217,180	$11,738,579
DFAC	Dimensional U.S. Core Equity 2 ETF	−20,726	8,344	$324,247
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	−20,341	512,673	$8,879,496
—		−20,004	67,845	$3,076,092
SUB	iShares Short-Term National Muni Bond ETF	−17,642	66,914	$7,126,341
SPAB	State Street(R) SPDR(R) Portfolio Aggregate Bond ETF	−16,418	310,565	$7,956,675
—		−14,225	143,713	$10,738,235
TLT	iShares 20+ Year Treasury Bond ETF	−8,144	87,919	$7,621,698
AGG	iShares Core U.S. Aggregate Bond ETF	−6,935	63,628	$6,316,351
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	−5,750	2,338	$750,053
SPY	Spdr S&P 500 ETF Trust	−5,346	16,234	$10,557,619
IWM	iShares Russell 2000 ETF	−3,947	17,048	$4,227,904
SPEM	State Street(R) SPDR(R) Portfolio Emerging Markets ETF	−2,141	17,620	$826,554
SCMB	Schwab Municipal Bond ETF	−1,653	38,390	$978,177
IGSB	iShares 1-5 Year Investment Grade Corporate Bond ETF	−1,475	15,467	$812,945
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
QQQI	NEOS Nasdaq-100(R) High Income ETF	153,434	$7,624,135
SPYI	NEOS S&P 500(R) High Income ETF	118,594	$5,854,985
BSCS	Invesco BulletShares 2028 Corporate Bond ETF	13,170	$268,931
PEP	Pepsico Inc	1,327	$206,069
No positions match the current search.

Sold Out

Positions the filer fully exited

12 positions

Ticker	Company	Shares	Value
NPKI	NPK International Inc.	65,902	$785,551
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	4,548	$654,775
IEFA	iShares Core MSCI EAFE ETF	6,956	$622,283
CMF	iShares California Muni Bond ETF	8,807	$506,050
AMP	Ameriprise Financial Inc	734	$359,909
AVGO	Broadcom Inc.	921	$318,758
NYF	iShares New York Muni Bond ETF	5,513	$295,000
VGSH	VANGUARD SHORT-TERM TREASURY INDEX FUND	4,585	$269,277
DFAX	Dimensional World ex. U.S. Core Equity 2 ETF	7,797	$255,195
PG	PROCTER & GAMBLE Co	1,619	$232,018
QQQ	Invesco Qqq Trust, Series 1	361	$221,765
BBDC	Barings BDC, Inc.	14,686	$134,817
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

76 tracked positions · $403,833,617 total · filing declares 90 positions · $403,974,657 · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Real Estate Technology Utilities

Showing 1–50 of 76 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
SCHX	Schwab U.S. Large-Cap ETF	Added	2,141,313	+157,752	$54,903,265	+2.9%	22	before history	13.60%
SPY	Spdr S&P 500 ETF Trust PUT CALL + SHARES	Reduced	39,434	-19,346	$25,645,507	−36.0%	15	$615.56	6.35%
SCHM	Schwab U.S. Mid-Cap ETF	Reduced	807,726	-82,706	$25,007,196	−6.6%	15	unpriced	6.19%
SCHG	Schwab U.S. Large-Cap Growth ETF	Added	752,372	+17,573	$21,916,596	−8.6%	22	before history	5.43%
SCHF	Schwab International Equity ETF	Reduced	811,818	-99,130	$20,092,495	−8.3%	14	unpriced	4.98%
SCHV	Schwab U.S. Large-Cap Value ETF	Reduced	549,657	-56,763	$16,764,538	−6.6%	7	unpriced	4.15%
USHY	iShares Broad USD High Yield Corporate Bond ETF	Reduced	373,064	-56,363	$13,743,677	−14.4%	10	unpriced	3.40%
MUB	iShares National Muni Bond ETF	Reduced	121,903	-29,586	$12,940,003	−20.3%	12	unpriced	3.20%
SCHO	Schwab Short-Term U.S. Treasury ETF	Reduced	522,603	-71,633	$12,683,574	−12.4%	16	unpriced	3.14%
VNQ	VANGUARD REAL ESTATE INDEX FUND	Added	133,902	+3,536	$11,877,107	+3.0%	4	$89.80	2.94%
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	Reduced	217,180	-22,775	$11,738,579	−9.0%	12	$42.45	2.91%
IWM	iShares Russell 2000 ETF PUT + SHARES	Reduced	43,848	-18,447	$10,874,304	−29.1%	7	unpriced	2.69%
		Reduced	143,713	-14,225	$10,738,235	−10.4%	14	$76.41	2.66%
JAAA	Janus Henderson AAA CLO ETF	Added	200,651	+26,787	$10,106,790	+14.9%	5	$50.55	2.50%
SCHP	Schwab U.S. TIPS ETF	Added	379,803	+247,047	$10,106,557	+187.4%	2	$26.73	2.50%
SPHY	State Street(R) SPDR(R) Portfolio High Yield Bond ETF	Added	429,967	+109,480	$10,026,830	+32.2%	4	$23.69	2.48%
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	Reduced	512,673	-20,341	$8,879,496	+25.7%	7	$13.37	2.20%
JEPI	JPMorgan Equity Premium Income ETF	Reduced	150,184	-30,161	$8,512,429	−17.5%	10	$56.39	2.11%
SPAB	State Street(R) SPDR(R) Portfolio Aggregate Bond ETF	Reduced	310,565	-16,418	$7,956,675	−5.5%	10	$24.73	1.97%
SCHD	Schwab U.S. Dividend Equity ETF	Reduced	258,864	-24,812	$7,941,947	+2.1%	22	before history	1.97%
QQQI	NEOS Nasdaq-100(R) High Income ETF	NEW	153,434	NEW	$7,624,135	NEW	1	$52.64	1.89%
TLT	iShares 20+ Year Treasury Bond ETF	Reduced	87,919	-8,144	$7,621,698	−9.0%	18	unpriced	1.89%
SUB	iShares Short-Term National Muni Bond ETF	Reduced	66,914	-17,642	$7,126,341	−21.0%	14	unpriced	1.76%
SCHZ	Schwab U.S. Aggregate Bond ETF	Added	290,058	+37,141	$6,735,146	+13.9%	22	before history	1.67%
AGG	iShares Core U.S. Aggregate Bond ETF	Reduced	63,628	-6,935	$6,316,351	−10.4%	14	unpriced	1.56%
SPYI	NEOS S&P 500(R) High Income ETF	NEW	118,594	NEW	$5,854,985	NEW	1	$51.82	1.45%
TSLA	Tesla, Inc. PUT + SHARES Consumer Cyclical	Reduced	12,601	-27	$4,684,421	−17.5%	6	$321.27	1.16%
GPIX	Goldman Sachs S&P 500 Premium Income ETF	Reduced	93,037	-230,003	$4,655,571	−72.7%	5	$50.25	1.15%
AAPL	Apple Inc. PUT + SHARES Technology	Reduced	18,163	-1,039	$4,609,587	−11.7%	22	before history	1.14%
GLD	Spdr Gold Trust	Reduced	8,847	-612	$3,806,775	+1.5%	22	before history	0.94%
		Reduced	67,845	-20,004	$3,076,092	−23.4%	14	$45.68	0.76%
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	Added	37,341	+4,933	$2,960,021	+14.6%	22	before history	0.73%
SCHA	Schwab U.S. Small-Cap ETF	Added	94,042	+3,522	$2,734,741	+6.1%	12	unpriced	0.68%
NVDA	Nvidia Corp PUT + SHARES Technology	Reduced	13,581	-760	$2,368,526	−11.4%	10	$86.14	0.59%
GOOGL	Alphabet Inc. PUT + SHARES Communication Services	Reduced	5,964	-527	$1,715,007	−15.6%	22	before history	0.42%
PZA	Invesco National AMT-Free Municipal Bond ETF	Reduced	65,599	-25,635	$1,507,465	−28.7%	11	unpriced	0.37%
GOOG	Alphabet Inc. PUT + SHARES Communication Services	Reduced	4,222	-222	$1,211,122	−13.2%	3	$210.20	0.30%
SCMB	Schwab Municipal Bond ETF	Reduced	38,390	-1,653	$978,177	−5.2%	6	unpriced	0.24%
VOO	VANGUARD 500 INDEX FUND	Reduced	1,486	-408	$887,959	−25.2%	14	unpriced	0.22%
SPEM	State Street(R) SPDR(R) Portfolio Emerging Markets ETF	Reduced	17,620	-2,141	$826,554	−10.6%	10	$34.07	0.20%
IGSB	iShares 1-5 Year Investment Grade Corporate Bond ETF	Reduced	15,467	-1,475	$812,945	−9.3%	14	unpriced	0.20%
AMZN	Amazon Com Inc PUT + SHARES Consumer Cyclical	Reduced	3,859	-1,149	$803,713	−30.5%	22	before history	0.20%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Reduced	2,338	-5,750	$750,053	−72.3%	12	unpriced	0.19%
MSFT	Microsoft Corp PUT + SHARES Technology	Reduced	1,964	-687	$727,013	−43.3%	22	before history	0.18%
WMT	Walmart Inc. PUT + SHARES Consumer Defensive	Reduced	5,735	-2,879	$712,745	−25.7%	8	$81.36	0.18%
MSTR	Strategy Inc PUT + SHARES Technology	Held	5,300	0	$661,440	−17.9%	4	$366.55	0.16%
PPL	PPL Corp Utilities	Held	14,806	0	$565,589	+9.1%	4	$34.81	0.14%
LLY	ELI LILLY & Co Healthcare	Reduced	573	-50	$527,028	−21.3%	14	$390.76	0.13%
JNJ	Johnson & Johnson Healthcare	Reduced	1,863	-268	$455,391	+3.3%	22	before history	0.11%
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	Reduced	5,993	-323	$441,324	−5.7%	14	$71.64	0.11%

Showing the top 50 of 76 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.