Tandem Financial, LLC

Portfolio Overview

Tandem Financial, LLC disclosed 98 positions worth $314.3M in its Form 13F-HR for Q1 2026 — $295.6M in common stock plus $18.7M of put/call option positions (reported at underlying notional value, not premium at risk). During the quarter the fund opened 40 new positions and exited 6 and a full exit from $CXW. The portfolio is most concentrated in Other (85.2% of disclosed assets). All figures are sourced directly from Tandem Financial, LLC’s Form 13F-HR filing with the SEC under CIK 2049157.

• ISHARES TR

  —

  Quality

  $42.5M65,017 sh

• VANGUARD BD INDEX FDS

  —

  Quality

  $23.5M304,306 sh
• 

  INVESCO QQQ TRUST, SERIES 1

  $QQQ PUT

  —

  Quality

  $17.2M29,800 sh

• VANECK ETF TRUST

  —

  Quality

  $15.4M167,482 sh

• VANGUARD TAX-MANAGED FDS

  —

  Quality

  $13.4M208,410 sh

• SCHWAB STRATEGIC TR

  —

  Quality

  $12.6M328,742 sh
• 

  INVESCO QQQ TRUST, SERIES 1

  $QQQ

  —

  Quality

  $12.0M20,766 sh
• 

  SPDR S&P 500 ETF TRUST

  $SPY

  —

  Quality

  $11.4M17,460 sh

• ISHARES TR

  —

  Quality

  $8.5M107,479 sh

• J P MORGAN EXCHANGE TRADED F

  —

  Quality

  $7.9M128,105 sh

Company	Quality	Value	Shares
ISHARES TR	—	$42.5M	65,017
VANGUARD BD INDEX FDS	—	$23.5M	304,306
INVESCO QQQ TRUST, SERIES 1$QQQPUT	—	$17.2M	29,800
VANECK ETF TRUST	—	$15.4M	167,482
VANGUARD TAX-MANAGED FDS	—	$13.4M	208,410
SCHWAB STRATEGIC TR	—	$12.6M	328,742
INVESCO QQQ TRUST, SERIES 1$QQQ	—	$12.0M	20,766
SPDR S&P 500 ETF TRUST$SPY	—	$11.4M	17,460
ISHARES TR	—	$8.5M	107,479
J P MORGAN EXCHANGE TRADED F	—	$7.9M	128,105

Showing top 10 of 98 holdings.

Full Holdings — Tandem Financial, LLC (Q1 2026)

All 98 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	—	ISHARES TR	$42.5M	14.4%	NEW	—
2	—	VANGUARD BD INDEX FDS	$23.5M	8.0%	NEW	—
3	$QQQPUT	INVESCO QQQ TRUST, SERIES 1	$17.2M	—	NEW	—
4	—	VANECK ETF TRUST	$15.4M	5.2%	-25%	—
5	—	VANGUARD TAX-MANAGED FDS	$13.4M	4.5%	NEW	—
6	—	SCHWAB STRATEGIC TR	$12.6M	4.3%	NEW	—
7	$QQQ	INVESCO QQQ TRUST, SERIES 1	$12.0M	4.1%	NEW	—
8	$SPY	SPDR S&P 500 ETF TRUST	$11.4M	3.9%	+119%	—
9	—	ISHARES TR	$8.5M	2.9%	+64%	—
10	—	J P MORGAN EXCHANGE TRADED F	$7.9M	2.7%	+881%	—
11	—	ISHARES TR	$7.5M	2.5%	+1654%	—
12	—	VANECK ETF TRUST	$6.8M	2.3%	+300%	—
13	—	VANGUARD SCOTTSDALE FDS	$6.7M	2.3%	-21%	—
14	—	J P MORGAN EXCHANGE TRADED F	$5.8M	2.0%	+728%	—
15	$PWR	QUANTA SERVICES, INC.	$5.8M	2.0%	NEW	62.6
16	$AAAU	Goldman Sachs Physical Gold ETF	$5.5M	1.9%	NEW	—
17	$IVZ	Invesco Ltd.	$5.1M	1.7%	NEW	—
18	—	VANGUARD CHARLOTTE FDS	$4.9M	1.7%	NEW	—
19	$GLD	SPDR GOLD TRUST	$4.3M	1.5%	-2%	—
20	—	ISHARES TR	$4.3M	1.4%	-46%	—
21	—	ISHARES TR	$4.1M	1.4%	-47%	—
22	—	ISHARES TR	$3.9M	1.3%	+243%	—
23	—	DIMENSIONAL ETF TRUST	$3.8M	1.3%	NEW	—
24	—	GOLDMAN SACHS ETF TR	$3.4M	1.1%	NEW	—
25	—	VANGUARD INTL EQUITY INDEX F	$3.3M	1.1%	+409%	—
26	—	VANGUARD INDEX FDS	$3.2M	1.1%	-4%	—
27	—	GOLDMAN SACHS ETF TR	$3.2M	1.1%	NEW	—
28	—	TCW ETF TRUST	$3.1M	1.0%	+88%	—
29	—	ISHARES TR	$2.8M	0.9%	-13%	—
30	—	SPDR SERIES TRUST	$2.8M	0.9%	+265%	—
31	$MSFT	MICROSOFT CORP	$2.7M	0.9%	+44%	83.7
32	$SII	SPROTT INC.	$2.6M	0.9%	+17%	—
33	—	DIMENSIONAL ETF TRUST	$2.6M	0.9%	NEW	—
34	—	DIMENSIONAL ETF TRUST	$2.5M	0.8%	NEW	—
35	$PM	Philip Morris International Inc.	$2.4M	0.8%	-20%	80.5
36	$AAPL	Apple Inc.	$2.3M	0.8%	+3%	76.1
37	—	DIMENSIONAL ETF TRUST	$2.1M	0.7%	NEW	—
38	$MP	MP Materials Corp. / DE	$2.0M	0.7%	-5%	23.5
39	—	ALPS ETF TR	$1.9M	0.6%	+167%	—
40	—	VICTORY PORTFOLIOS II	$1.8M	0.6%	NEW	—
41	—	FIRST TR EXCHANGE-TRADED FD	$1.6M	0.6%	-75%	—
42	$GOOG	Alphabet Inc.	$1.3M	0.4%	+11%	80.2
43	$NUV	NUVEEN MUNICIPAL VALUE FUND INC	$1.3M	0.4%	+9%	—
44	—	J P MORGAN EXCHANGE TRADED F	$1.3M	0.4%	+93%	—
45	—	FIRST TR EXCHANGE-TRADED FD	$1.2M	0.4%	+11%	—
46	—	DIMENSIONAL ETF TRUST	$1.2M	0.4%	NEW	—
47	—	GLOBAL X FDS	$1.2M	0.4%	-66%	—
48	—	VANECK ETF TRUST	$1.2M	0.4%	+107%	—
49	—	VANGUARD INDEX FDS	$1.2M	0.4%	-79%	—
50	—	TIDAL TRUST I	$1.1M	0.4%	NEW	—
51	$NEM	NEWMONT Corp /DE/	$1.1M	0.4%	+65%	88.3
52	—	DIMENSIONAL ETF TRUST	$1.1M	0.4%	NEW	—
53	—	SPDR SERIES TRUST	$1.1M	0.4%	+678%	—
54	$GOOGL	Alphabet Inc.	$1.1M	0.4%	+16%	80.2
55	—	VANGUARD INDEX FDS	$944,532	0.3%	-76%	—
56	—	DIMENSIONAL ETF TRUST	$932,993	0.3%	NEW	—
57	—	ISHARES TR	$927,583	—	NEW	—
58	—	ISHARES TR	$923,001	0.3%	+110%	—
59	—	DIMENSIONAL ETF TRUST	$752,060	0.3%	NEW	—
60	—	ULTIMUS MANAGERS TR	$737,719	0.3%	NEW	—
61	—	ISHARES TR	$722,356	0.2%	+26%	—
62	$NVDA	NVIDIA CORP	$716,827	0.2%	-7%	90.2
63	$CVX	CHEVRON CORP	$664,320	0.2%	+128%	54.7
64	—	VANGUARD SCOTTSDALE FDS	$623,315	0.2%	-95%	—
65	—	DIMENSIONAL ETF TRUST	$599,955	0.2%	NEW	—
66	$XOM	EXXON MOBIL CORP	$596,315	0.2%	-10%	61.8
67	$RIO	RIO TINTO PLC	$589,025	0.2%	+35%	—
68	—	VANGUARD INDEX FDS	$585,737	0.2%	-77%	—
69	—	ISHARES TR	$573,449	0.2%	+77%	—
70	$AMZN	AMAZON COM INC	$555,873	0.2%	+43%	74.6
71	$BRK.B	BERKSHIRE HATHAWAY INC	$545,330	0.2%	+139%	64.5
72	$CARR	CARRIER GLOBAL Corp	$528,505	0.2%	-23%	61.5
73	—	SCHWAB STRATEGIC TR	$483,803	0.2%	NEW	—
74	$NLY	ANNALY CAPITAL MANAGEMENT INC	$425,551	0.1%	+13%	—
75	$MO	ALTRIA GROUP, INC.	$415,045	0.1%	-52%	72.1
76	—	VANGUARD MUN BD FDS	$397,574	0.1%	NEW	—
77	$SPYCALL	SPDR S&P 500 ETF TRUST	$390,204	—	NEW	—
78	—	AMERICAN CENTY ETF TR	$355,844	0.1%	NEW	—
79	—	SCHWAB STRATEGIC TR	$341,997	0.1%	NEW	—
80	—	SELECT SECTOR SPDR TR	$335,180	0.1%	NEW	—
81	$ORCL	ORACLE CORP	$334,836	0.1%	-8%	67.2
82	—	VANGUARD SCOTTSDALE FDS	$331,715	0.1%	-99%	—
83	—	VANGUARD MUN BD FDS	$280,902	0.1%	NEW	—
84	$IVZ	Invesco Ltd.	$275,002	0.1%	NEW	—
85	$SLV	iShares Silver Trust	$274,877	0.1%	NEW	—
86	—	ISHARES TR	$273,074	0.1%	+0%	—
87	—	VANGUARD INDEX FDS	$261,787	0.1%	-91%	—
88	$AVGO	Broadcom Inc.	$261,744	0.1%	NEW	86.4
89	$WMT	Walmart Inc.	$259,391	0.1%	NEW	63.2
90	$COST	COSTCO WHOLESALE CORP /NEW	$259,201	0.1%	+18%	67
91	—	VANGUARD WORLD FD	$242,383	0.1%	NEW	—
92	$QQQCALL	INVESCO QQQ TRUST, SERIES 1	$230,872	—	NEW	—
93	—	ISHARES TR	$222,172	0.1%	-55%	—
94	—	VANECK ETF TRUST	$215,751	0.1%	-62%	—
95	$DOV	DOVER Corp	$214,396	0.1%	-29%	63.1
96	$TSLA	Tesla, Inc.	$212,641	0.1%	NEW	50.1
97	$JNJ	JOHNSON & JOHNSON	$212,419	0.1%	NEW	72.8
98	$TSM	TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$205,367	0.1%	NEW	—