Tandem Financial, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 8, 2025), Tandem Financial, LLC reported 47 stock positions worth $91.8 million. Its top holding was Vaneck Gold Miners ETF (GDX) at 11.2% of the portfolio, followed by Vanguard Long-Term Treasury (VGLT, 9.3%) and iShares Russell 1000 Value E (IWD, 7.7%). Compared with Q4 2024, it opened 2 new positions, sold out of 31, added to 22 and reduced 19. The biggest buy was a new position in Apple (AAPL) and the biggest sale an exit from Apple.
- Most Recent 13F
- Q2 2026
- Location
- GREENWOOD VILLAGE, CO
- CIK
- 0002049157
- Portfolio Value
- $91.8M (Q1 2025)
- SEC Filing
- 0001420506-25-000936 ↗ filed May 8, 2025
Holdings Value
Holdings 47 stocks · $91.8M
| GDX Vaneck Gold Miners ETF | 11.15% | 222,761 | $10.2M | Reduce -0.9% |
| VGLT Vanguard Long-Term Treasury | 9.32% | 148,527 | $8.6M | Reduce -3.6% |
| IWD iShares Russell 1000 Value E | 7.69% | 37,504 | $7.1M | Add +1.7% |
| IWF iShares Russell 1000 Growth | 7.46% | 18,970 | $6.9M | Add +1.9% |
| KNG FT Vest S&P 500 DVD Arst TRG | 7.38% | 134,139 | $6.8M | Add +0.8% |
| IMCG iShares Morningstar Mid-Cap | 5.17% | 66,428 | $4.7M | Add +1.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 4.99% | 8,165 | $4.6M | Add +0.9% |
| QQQ Invesco QQQ Trust Series 1 | 4.21% | 8,225 | $3.9M | Add +1.5% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 3.53% | 12,876 | $3.2M | Reduce -0.1% |
| GLD SPDR Gold Shares | 3.24% | 10,331 | $3.0M | Add +0.4% |
| PWR Quanta Services Inc. | 3.17% | 11,468 | $2.9M | Reduce -1.2% |
| PM Philip Morris International | 2.94% | 16,838 | $2.7M | Reduce -5.6% |
| ITA iShares U.S. Aerospace & Def | 2.29% | 13,728 | $2.1M | Reduce -8.0% |
| MSFT Microsoft Corp. | 2.06% | 5,033 | $1.9M | Reduce -0.1% |
| AAPL Apple Inc. | 2.02% | 8,357 | $1.9M | New |
| FLXR TCW Flexible Income ETF | 1.88% | 44,007 | $1.7M | Add +6.7% |
| CXW Corecivic Inc. | 1.33% | 60,051 | $1.2M | Add +127.8% |
| NUV Nuveen Municipal Value | 1.26% | 130,915 | $1.2M | Add +2.2% |
| URNM Sprott Uranium Miners ETF | 1.23% | 34,883 | $1.1M | Reduce -0.8% |
| MP MP Materials Corp. | 1.16% | 43,799 | $1.1M | Reduce -2.2% |
| URA Global X Uranium ETF | 1.16% | 46,373 | $1.1M | Reduce -2.5% |
| JEPI JPMorgan Equity Premium Inco | 1.10% | 17,612 | $1.0M | Add +34.8% |
| EMLP First Trust North American E | 1.06% | 25,862 | $970K | Add +1.3% |
| IWM iShares Russell 2000 ETF | 1.03% | 4,734 | $944K | Add +2.0% |
| AMLP Alerian MLP ETF | 1.03% | 18,120 | $941K | Add +35.6% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.93% | 16,577 | $858K | Add +29.3% |
| XSW SS SPDR S&P Soft & Serv ETF | 0.92% | 5,284 | $845K | Reduce -0.5% |
| MO Altria Group Inc. | 0.82% | 12,384 | $756K | Reduce -3.9% |
| CARR Carrier Global Corp. | 0.82% | 11,804 | $748K | Reduce -5.1% |
| PFXF Vaneck Pref Sec X-Financials | 0.79% | 43,323 | $726K | Add +33.6% |
| GOOGL Alphabet Inc. Class A | 0.67% | 3,955 | $612K | New |
| VWO Vanguard Ftse Emerging Marke | 0.61% | 12,283 | $556K | Add +0.8% |
| GOOG Alphabet Inc. Class C | 0.54% | 3,167 | $495K | No change |
| NVDA Nvidia Corp. | 0.52% | 4,383 | $475K | Reduce -1.1% |
| NLY Annaly Capital Management Inc. | 0.52% | 22,514 | $473K | Add +30.5% |
| XOM Exxon Mobil Corp. | 0.51% | 3,921 | $466K | Reduce -0.1% |
| NEM Newmont Corp. | 0.47% | 8,889 | $429K | Add +44.8% |
| RIO Rio Tinto PLC-Spon ADR | 0.39% | 5,792 | $361K | Add +27.5% |
| AMZN Amazon.com Inc. | 0.39% | 1,876 | $357K | Reduce -3.1% |
| ORCL Oracle Corp. | 0.38% | 2,482 | $347K | No change |
| HP Helmerich & Payne | 0.35% | 12,479 | $326K | Reduce -3.2% |
| TLT iShares 20+ Year Treasury BD | 0.30% | 2,999 | $273K | Reduce -4.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.28% | 476 | $254K | No change |
| IVV iShares Core S&P 500 ETF | 0.26% | 422 | $237K | Add +12.8% |
| CVX Chevron Corp. | 0.26% | 1,412 | $236K | Add +0.1% |
| SKM SK Telecom Co. Ltd.-Spon ADR | 0.22% | 9,712 | $206K | No change |
| COST Costco Wholesale Corp. | 0.22% | 218 | $206K | Reduce -0.9% |
Options reported separately and not counted above: GLD puts ($432K), SPY calls ($224K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $6K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| YOTAR Yotta Acquisition Corp. - RTS | RIGHT 03/15/2027 | 40,000 | $6K | No change |
Total filed on the 13F, all lines: $91.8M.
Portfolio Sells Q4 2024 → Q1 2025
| APPLE INC | Sold out | 0.00% | −2.33 |
| ALPHABET INC | Sold out | 0.00% | −0.83 |
| PWR Quanta Services Inc. | Reduce -1.2% | 3.17% | −0.78 |
| INCY Incyte Corp. | Sold out | 0.00% | −0.39 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Reduce -0.1% | 3.53% | −0.36 |
| URNM Sprott Uranium Miners ETF | Reduce -0.8% | 1.23% | −0.30 |
| VT Vanguard Tot World STK ETF | Sold out | 0.00% | −0.28 |
| URA Global X Uranium ETF | Reduce -2.5% | 1.16% | −0.25 |
| MSFT Microsoft Corp. | Reduce -0.1% | 2.06% | −0.23 |
| WMT Walmart Inc. | Sold out | 0.00% | −0.20 |
| XSW SS SPDR S&P Soft & Serv ETF | Reduce -0.5% | 0.92% | −0.16 |
| SCHV Schwab US Large-Cap Value | Sold out | 0.00% | −0.16 |
| AMPLIFY ETF TR | Sold out | 0.00% | −0.16 |
| SDSI Amer Cent SH Dur Strat Inc. | Sold out | 0.00% | −0.14 |
| TWLO Twilio Inc. Class A | Sold out | 0.00% | −0.13 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −0.13 |
| NVDA Nvidia Corp. | Reduce -1.1% | 0.52% | −0.12 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.12 |
| XEL Xcel Energy Inc. | Sold out | 0.00% | −0.12 |
| IAU iShares Gold Trust | Sold out | 0.00% | −0.12 |
| CARR Carrier Global Corp. | Reduce -5.1% | 0.82% | −0.10 |
| HP Helmerich & Payne | Reduce -3.2% | 0.35% | −0.09 |
| FHN First Horizon Corp. | Sold out | 0.00% | −0.08 |
| AMZN Amazon.com Inc. | Reduce -3.1% | 0.39% | −0.07 |
| EPD Enterprise Products Partners | Sold out | 0.00% | −0.07 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −0.06 |
| ITA iShares U.S. Aerospace & Def | Reduce -8.0% | 2.29% | −0.05 |
| HPI John Hancock Prefer Inc. | Sold out | 0.00% | −0.04 |
| PBR Petroleo Brasileiro-Spon ADR | Sold out | 0.00% | −0.04 |
| SPH Suburban Propane Partners LP | Sold out | 0.00% | −0.04 |
| DNP DNP Select Income Fund Inc. | Sold out | 0.00% | −0.04 |
| KNGZ FT - S&P 500 DVD Aristocrats | Sold out | 0.00% | −0.03 |
| HPE Hewlett Packard Enterprise | Sold out | 0.00% | −0.03 |
| OLO Olo Inc. Class A | Sold out | 0.00% | −0.03 |
| RIVN Rivian Automotive Inc. Class A | Sold out | 0.00% | −0.03 |
| APLD Applied Digital Corp. | Sold out | 0.00% | −0.02 |
| BCV Bancroft Fund Ltd. | Sold out | 0.00% | −0.02 |
| WU Western Union Co. | Sold out | 0.00% | −0.02 |
| HBAN Huntington Bancshares Inc. | Sold out | 0.00% | −0.02 |
| OBDC Blue Owl Capital Corp. | Sold out | 0.00% | −0.02 |
| YOLO Advisorshares Pure Cannabis | Sold out | 0.00% | −0.01 |
| CRON Cronos Group Inc. | Sold out | 0.00% | −0.00 |
| TLT iShares 20+ Year Treasury BD | Reduce -4.5% | 0.30% | +0.00 |
| COST Costco Wholesale Corp. | Reduce -0.9% | 0.22% | +0.01 |
| XOM Exxon Mobil Corp. | Reduce -0.1% | 0.51% | +0.05 |
| MO Altria Group Inc. | Reduce -3.9% | 0.82% | +0.08 |
| VGLT Vanguard Long-Term Treasury | Reduce -3.6% | 9.32% | +0.12 |
| MP MP Materials Corp. | Reduce -2.2% | 1.16% | +0.41 |
| PM Philip Morris International | Reduce -5.6% | 2.94% | +0.59 |
| GDX Vaneck Gold Miners ETF | Reduce -0.9% | 11.15% | +2.93 |
Portfolio Buys Q4 2024 → Q1 2025
| AAPL Apple Inc. | New | 2.02% | +2.02 |
| GOOGL Alphabet Inc. Class A | New | 0.67% | +0.67 |
| GLD SPDR Gold Shares | Add +0.4% | 3.24% | +0.56 |
| AMLP Alerian MLP ETF | Add +35.6% | 1.03% | +0.33 |
| IWD iShares Russell 1000 Value E | Add +1.7% | 7.69% | +0.32 |
| JEPI JPMorgan Equity Premium Inco | Add +34.8% | 1.10% | +0.28 |
| NEM Newmont Corp. | Add +44.8% | 0.47% | +0.22 |
| PFXF Vaneck Pref Sec X-Financials | Add +33.6% | 0.79% | +0.19 |
| KNG FT Vest S&P 500 DVD Arst TRG | Add +0.8% | 7.38% | +0.17 |
| NLY Annaly Capital Management Inc. | Add +30.5% | 0.52% | +0.16 |
| FLXR TCW Flexible Income ETF | Add +6.7% | 1.88% | +0.16 |
| JEPQ JPM Nasdaq Equity Premium | Add +29.3% | 0.93% | +0.15 |
| RIO Rio Tinto PLC-Spon ADR | Add +27.5% | 0.39% | +0.10 |
| EMLP First Trust North American E | Add +1.3% | 1.06% | +0.07 |
| NUV Nuveen Municipal Value | Add +2.2% | 1.26% | +0.07 |
| CVX Chevron Corp. | Add +0.1% | 0.26% | +0.04 |
| VWO Vanguard Ftse Emerging Marke | Add +0.8% | 0.61% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +12.8% | 0.26% | +0.02 |
| IWM iShares Russell 2000 ETF | Add +2.0% | 1.03% | −0.08 |
| CXW Corecivic Inc. | Add +127.8% | 1.33% | −0.14 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.9% | 4.99% | −0.14 |
| IMCG iShares Morningstar Mid-Cap | Add +1.3% | 5.17% | −0.18 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.5% | 4.21% | −0.26 |
| IWF iShares Russell 1000 Growth | Add +1.9% | 7.46% | −0.61 |
Options Activity Q4 2024 → Q1 2025
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| XLE SS Energy Select Sector | ST STR ENERG ETF · principal | Sold out | 3,200 | $274Kbefore exit |
| SLB SLB Ltd. | COM STK · principal | Sold out | 2,000 | $77Kbefore exit |
| XLF SS Financial Select Sector | ST STR FINL ETF · principal | Sold out | 1,000 | $48Kbefore exit |
| RTX CORPORATION | CALL · principal | Sold out | 3,300 | $4Kbefore exit |
| EXXON MOBIL CORP | CALL · principal | Sold out | 3,100 | $3Kbefore exit |
| INVESCO QQQ TR | CALL · principal | Sold out | 1,300 | $665before exit |
| ML.WS Moneylion Inc. -CW27 | *W EXP 09/22/202 | Sold out | 1,000 | $183before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 99 | $310.8M | IVV, BIV, VEA, FNDE, SPY |
| Q1 2026 | 94 | $295.6M | IVV, BIV, GDX, VEA, FNDE |
| Q4 2025 | 47 | $82.8M | VGLT, GDX, IWF, IWD, KNG |
| Q3 2025 | 88 | $268.5M | IVV, BIV, GDX, SPY, FNDE |
| Q2 2025 | 48 | $106.5M | GDX, SPY, FNDE, VGLT, IMCG |
| Q1 2025 | 47 | $91.8M | GDX, VGLT, IWD, IWF, KNG |
| Q4 2024 | 76 | $92.7M | VGLT, GDX, IWF, IWD, KNG |