Tandem Financial, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), Tandem Financial, LLC reported 47 stock positions worth $82.8 million. Its top holding was Vanguard Long-Term Treasury (VGLT) at 10.3% of the portfolio, followed by Vaneck Gold Miners ETF (GDX, 9.1%) and iShares Russell 1000 Growth (IWF, 9.0%). Compared with Q3 2025, it opened 5 new positions, sold out of 46, added to 17 and reduced 25. The biggest buy was Vanguard Long-Term Treasury (VGLT, shares +21%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- GREENWOOD VILLAGE, CO
- CIK
- 0002049157
- Portfolio Value
- $82.8M (Q4 2025)
- SEC Filing
- 0001420506-26-000250 ↗ filed Feb 10, 2026
Holdings Value
Holdings 47 stocks · $82.8M
| VGLT Vanguard Long-Term Treasury | 10.26% | 153,416 | $8.5M | Add +21.2% |
| GDX Vaneck Gold Miners ETF | 9.14% | 223,196 | $7.6M | Add +18.2% |
| IWF iShares Russell 1000 Growth | 9.02% | 18,588 | $7.5M | Add +84.0% |
| IWD iShares Russell 1000 Value E | 8.23% | 36,825 | $6.8M | Add +83.6% |
| KNG FT Vest S&P 500 DVD Arst TRG | 8.06% | 132,836 | $6.7M | Add +125.8% |
| IMCG iShares Morningstar Mid-Cap | 5.97% | 65,401 | $4.9M | Reduce -30.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 5.66% | 7,975 | $4.7M | Reduce -51.0% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 4.35% | 12,867 | $3.6M | Add +309.1% |
| GLD SPDR Gold Shares | 3.00% | 10,267 | $2.5M | Add +5.0% |
| PM Philip Morris International | 2.62% | 17,838 | $2.2M | Add +25.3% |
| AAPL Apple Inc. | 2.60% | 8,608 | $2.2M | Reduce -3.4% |
| ITA iShares U.S. Aerospace & Def | 2.58% | 14,712 | $2.1M | Add +10.7% |
| MSFT Microsoft Corp. | 2.56% | 5,037 | $2.1M | Add +0.4% |
| FLXR TCW Flexible Income ETF | 1.93% | 41,234 | $1.6M | Reduce -28.4% |
| URNM Sprott Uranium Miners ETF | 1.71% | 35,147 | $1.4M | Reduce -6.7% |
| CXW Corecivic Inc. | 1.62% | 61,523 | $1.3M | New |
| URA Global X Uranium ETF | 1.57% | 47,373 | $1.3M | New |
| NUV Nuveen Municipal Value | 1.33% | 128,097 | $1.1M | Reduce -6.5% |
| IWM iShares Russell 2000 ETF | 1.23% | 4,608 | $1.0M | Reduce -67.4% |
| XSW SS SPDR S&P Soft & Serv ETF | 1.21% | 5,309 | $1.0M | Reduce -71.0% |
| EMLP First Trust North American E | 1.10% | 25,538 | $910K | Reduce -5.4% |
| CARR Carrier Global Corp. | 1.01% | 12,253 | $839K | Add +17.3% |
| JEPI JPMorgan Equity Premium Inco | 0.91% | 13,064 | $757K | Reduce -17.3% |
| GOOGL Alphabet Inc. Class A | 0.91% | 3,975 | $752K | Reduce -4.4% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.88% | 12,821 | $729K | Reduce -9.8% |
| MP MP Materials Corp. | 0.83% | 44,174 | $689K | Add +1.9% |
| MO Altria Group Inc. | 0.83% | 12,884 | $687K | Add +125.7% |
| AMLP Alerian MLP ETF | 0.78% | 13,363 | $644K | Reduce -35.0% |
| GOOG Alphabet Inc. Class C | 0.73% | 3,167 | $603K | Reduce -2.7% |
| NVDA Nvidia Corp. | 0.72% | 4,433 | $595K | Add +2.5% |
| PFXF Vaneck Pref Sec X-Financials | 0.68% | 32,423 | $559K | Reduce -24.4% |
| VWO Vanguard Ftse Emerging Marke | 0.64% | 12,085 | $532K | Reduce -80.4% |
| XOM Exxon Mobil Corp. | 0.51% | 3,923 | $422K | Reduce -1.7% |
| ORCL Oracle Corp. | 0.50% | 2,482 | $414K | Add +12.3% |
| HP Helmerich & Payne | 0.50% | 12,897 | $413K | New |
| AMZN Amazon.com Inc. | 0.49% | 1,864 | $409K | Reduce -12.6% |
| INCY Incyte Corp. | 0.42% | 5,078 | $351K | New |
| NLY Annaly Capital Management Inc. | 0.39% | 17,254 | $327K | Reduce -18.9% |
| TLT iShares 20+ Year Treasury BD | 0.33% | 3,139 | $274K | Add +29.2% |
| RIO Rio Tinto PLC-Spon ADR | 0.32% | 4,542 | $267K | Reduce -27.6% |
| VT Vanguard Tot World STK ETF | 0.31% | 2,177 | $256K | Add +38.2% |
| NEM Newmont Corp. | 0.28% | 6,139 | $228K | Reduce -41.6% |
| IVV iShares Core S&P 500 ETF | 0.27% | 374 | $220K | Reduce -99.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.26% | 476 | $216K | Reduce -58.1% |
| CVX Chevron Corp. | 0.25% | 1,411 | $204K | Reduce -61.6% |
| SKM SK Telecom Co. Ltd.-Spon ADR | 0.25% | 9,712 | $204K | New |
| COST Costco Wholesale Corp. | 0.24% | 220 | $202K | Reduce -14.4% |
Options reported separately and not counted above: XOM calls ($333K), XLE calls ($274K).
Portfolio Sells Q3 2025 → Q4 2025
| IVV iShares Core S&P 500 ETF | Reduce -99.5% | 0.27% | −19.56 |
| BIV Vanguard Intermediate-Term B | Sold out | 0.00% | −7.97 |
| FNDE Schwab Fndmntl Em MRK Eq ETF | Sold out | 0.00% | −3.79 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −3.65 |
| JQUA JPMorgan US Quality Factor | Sold out | 0.00% | −2.74 |
| AAAU Goldman Sachs Physical Gold | Sold out | 0.00% | −2.32 |
| ILCV iShares Morningstar Value Et | Sold out | 0.00% | −2.20 |
| CLOI Vaneck Clo ETF | Sold out | 0.00% | −2.17 |
| JBND JPMorgan Active Bond ETF | Sold out | 0.00% | −2.12 |
| BNDX Vanguard Total Intl Bond ETF | Sold out | 0.00% | −1.86 |
| PWR Quanta Services Inc. | Sold out | 0.00% | −1.72 |
| IUS Invesco Rafi Strategic US Et | Sold out | 0.00% | −1.53 |
| DFAU Dimensional US Core Equity M | Sold out | 0.00% | −1.37 |
| VEA Vanguard Ftse Developed ETF | Sold out | 0.00% | −0.99 |
| DFAC Dimensional US Core Equity 2 | Sold out | 0.00% | −0.92 |
| DFIC Dimensional International Co. | Sold out | 0.00% | −0.86 |
| DFAE Dimensional Emerging Core Eq | Sold out | 0.00% | −0.69 |
| VWO Vanguard Ftse Emerging Marke | Reduce -80.4% | 0.64% | −0.60 |
| GPIQ GS Nasdaq-100 PR Inc. ETF-Usd | Sold out | 0.00% | −0.46 |
| DUHP Dimensional US High Profi Et | Sold out | 0.00% | −0.44 |
| DFGP Dimensional GLBL Core PL Fix | Sold out | 0.00% | −0.41 |
| SPAB SS SPDR P Agg Bond ETF | Sold out | 0.00% | −0.40 |
| VUG Vanguard Mrngstar GR ETF-Sui | Sold out | 0.00% | −0.39 |
| GPIX GLDM SA S&P 500 PR in ETF-US | Sold out | 0.00% | −0.35 |
| IEF iShares 7-10 Year Treasury B | Sold out | 0.00% | −0.35 |
| SCHD Schwab US DVD Equity ETF | Sold out | 0.00% | −0.34 |
| DFIV Dimensional International Va | Sold out | 0.00% | −0.30 |
| XLK SS Technology Select Sector | Sold out | 0.00% | −0.27 |
| DFEV Dimensional Emrg MRKT Val | Sold out | 0.00% | −0.24 |
| VCLT Vanguard Long-Term Corp. Bond | Sold out | 0.00% | −0.24 |
| GRNY Fundstr Gran SH US LRG Cap | Sold out | 0.00% | −0.22 |
| MLPX Global X MLP & Energy Infras | Sold out | 0.00% | −0.22 |
| DFSV Dimensional US Small Cap Val | Sold out | 0.00% | −0.19 |
| JMUB JPMorgan Municipal ETF | Sold out | 0.00% | −0.19 |
| VTV Vanguard Mrngstr Val ETF-Aui | Sold out | 0.00% | −0.19 |
| VTEB Vanguard Tax-Exempt Bond ETF | Sold out | 0.00% | −0.16 |
| XSW SS SPDR S&P Soft & Serv ETF | Reduce -71.0% | 1.21% | −0.14 |
| DGRO iShares Core Dividend Growth | Sold out | 0.00% | −0.14 |
| IJR iShares Core S&P Small-Cap E | Sold out | 0.00% | −0.12 |
| SCHV Schwab US Large-Cap Value | Sold out | 0.00% | −0.12 |
| VONE Vanguard Russell 1000 | Sold out | 0.00% | −0.12 |
| PZA Invesco National Amt-Free Mu | Sold out | 0.00% | −0.10 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Sold out | 0.00% | −0.09 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −0.09 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.08 |
| MLN Vaneck Long Muni ETF | Sold out | 0.00% | −0.08 |
| WMT Walmart Inc. | Sold out | 0.00% | −0.08 |
| MDST Westwd Sat Encd Mdstr in ETF | Sold out | 0.00% | −0.08 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.07 |
| NEM Newmont Corp. | Reduce -41.6% | 0.28% | −0.05 |
Portfolio Buys Q3 2025 → Q4 2025
| VGLT Vanguard Long-Term Treasury | Add +21.2% | 10.26% | +7.58 |
| IWF iShares Russell 1000 Growth | Add +84.0% | 9.02% | +7.25 |
| KNG FT Vest S&P 500 DVD Arst TRG | Add +125.8% | 8.06% | +6.97 |
| IWD iShares Russell 1000 Value E | Add +83.6% | 8.23% | +6.71 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Add +309.1% | 4.35% | +4.00 |
| GDX Vaneck Gold Miners ETF | Add +18.2% | 9.14% | +3.77 |
| PM Philip Morris International | Add +25.3% | 2.62% | +1.76 |
| GLD SPDR Gold Shares | Add +5.0% | 3.00% | +1.71 |
| CXW Corecivic Inc. | New | 1.62% | +1.62 |
| MSFT Microsoft Corp. | Add +0.4% | 2.56% | +1.60 |
| URA Global X Uranium ETF | New | 1.57% | +1.57 |
| ITA iShares U.S. Aerospace & Def | Add +10.7% | 2.58% | +1.55 |
| CARR Carrier Global Corp. | Add +17.3% | 1.01% | +0.78 |
| MO Altria Group Inc. | Add +125.7% | 0.83% | +0.69 |
| HP Helmerich & Payne | New | 0.50% | +0.50 |
| INCY Incyte Corp. | New | 0.42% | +0.42 |
| NVDA Nvidia Corp. | Add +2.5% | 0.72% | +0.42 |
| ORCL Oracle Corp. | Add +12.3% | 0.50% | +0.27 |
| TLT iShares 20+ Year Treasury BD | Add +29.2% | 0.33% | +0.25 |
| SKM SK Telecom Co. Ltd.-Spon ADR | New | 0.25% | +0.25 |
| VT Vanguard Tot World STK ETF | Add +38.2% | 0.31% | +0.23 |
| MP MP Materials Corp. | Add +1.9% | 0.83% | −0.25 |
Options Activity Q3 2025 → Q4 2025
| XOM Exxon Mobil Corp. | call | New | 3,100 | $333K |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 500 | $333Kbefore exit |
| XLE SS Energy Select Sector | call | New | 3,200 | $274K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings 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 |