Filed: 10/15/2025ACC: 0002020781-25-000002
📋 What this filing means
TENON FINANCIAL LLC filed this quarterly 13F‑HR report disclosing 48 equity positions with a total reported market value of $194.74M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
48
Positions
$194.74M
Total AUM (reported)
1.89M
Total Shares
Allocation by class
S&P 500 ETF SHS$48.68M25.0%
EXTEND MKT ETF$37.08M19.0%
VG TL INTL STK F$25.61M13.1%
TOTAL BND MRKT$23.67M12.2%
VAN FTSE DEV MKT$13.41M6.9%
COM$10.90M5.6%
TOTAL STK MKT$8.08M4.1%
Portfolio Concentration
Top 3$111.37M57.2%
4–10$58.14M29.9%
11–25$17.47M9.0%
Rest$7.76M4.0%
Top 3 weight
57.2%
Top 10 weight
87.0%
Voting Authority Distribution
Total shares with voting rights: 1.89M
Sole
Full voting authority
0.00
shares
% of voting shares0.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
1.89M
shares
% of voting shares100.0%
Investment Discretion (by position count)
Sole48
Shared0
Other0
Dominant voting typeNone · 100.0% of voting shares
Institutional Holdings48
Rows:
VANGUARD INDEX FDS
SOLEShares79.55K
TypeSH
Market value$48.68M
25.00%
Sole
0.00
Shared
0.00
None
79.55K
VANGUARD INDEX FDS
SOLEShares177.23K
TypeSH
Market value$37.08M
19.04%
Sole
0.00
Shared
0.00
None
177.23K
VANGUARD STAR FDS
SOLEShares348.77K
TypeSH
Market value$25.61M
13.15%
Sole
0.00
Shared
0.00
None
348.77K
VANGUARD BD INDEX FDS
SOLEShares318.21K
TypeSH
Market value$23.67M
12.15%
Sole
0.00
Shared
0.00
None
318.21K
VANGUARD TAX-MANAGED FDS
SOLEShares223.79K
TypeSH
Market value$13.41M
6.89%
Sole
0.00
Shared
0.00
None
223.79K
VANGUARD INDEX FDS
SOLEShares24.61K
TypeSH
Market value$8.08M
4.15%
Sole
0.00
Shared
0.00
None
24.61K
INVESCO EXCH TRD SLF IDX FD
SOLEShares192.14K
TypeSH
Market value$3.76M
1.93%
Sole
0.00
Shared
0.00
None
192.14K
ISHARES TR
SOLEShares22.54K
TypeSH
Market value$3.28M
1.69%
Sole
0.00
Shared
0.00
None
22.54K
INVESCO EXCH TRD SLF IDX FD
SOLEShares151.72K
TypeSH
Market value$2.99M
1.54%
Sole
0.00
Shared
0.00
None
151.72K
APPLE INC
SOLEShares11.67K
TypeSH
Market value$2.96M
1.52%
Sole
0.00
Shared
0.00
None
11.67K
INVESCO EXCH TRD SLF IDX FD
SOLEShares127.81K
TypeSH
Market value$2.64M
1.36%
Sole
0.00
Shared
0.00
None
127.81K
MICROSOFT CORP
SOLEShares3.74K
TypeSH
Market value$1.93M
0.99%
Sole
0.00
Shared
0.00
None
3.74K
ELI LILLY & CO
SOLEShares2.33K
TypeSH
Market value$1.78M
0.91%
Sole
0.00
Shared
0.00
None
2.33K
TRANE TECHNOLOGIES PLC
SOLEShares3.35K
TypeSH
Market value$1.42M
0.73%
Sole
0.00
Shared
0.00
None
3.35K
VANGUARD SCOTTSDALE FDS
SOLEShares22.66K
TypeSH
Market value$1.36M
0.70%
Sole
0.00
Shared
0.00
None
22.66K
VANGUARD INDEX FDS
SOLEShares2.51K
TypeSH
Market value$1.20M
0.62%
Sole
0.00
Shared
0.00
None
2.51K
VANGUARD MUN BD FDS
SOLEShares21.65K
TypeSH
Market value$1.08M
0.56%
Sole
0.00
Shared
0.00
None
21.65K
AMAZON COM INC
SOLEShares4.17K
TypeSH
Market value$916.4K
0.47%
Sole
0.00
Shared
0.00
None
4.17K
TYLER TECHNOLOGIES INC
SOLEShares1.65K
TypeSH
Market value$862.7K
0.44%
Sole
0.00
Shared
0.00
None
1.65K
ISHARES TR
SOLEShares1.25K
TypeSH
Market value$834.1K
0.43%
Sole
0.00
Shared
0.00
None
1.25K
AMERICAN CENTY ETF TR
SOLEShares8.18K
TypeSH
Market value$814.0K
0.42%
Sole
0.00
Shared
0.00
None
8.18K
XPO INC
SOLEShares5.84K
TypeSH
Market value$755.5K
0.39%
Sole
0.00
Shared
0.00
None
5.84K
INVESCO EXCHANGE TRADED FD T
SOLEShares3.60K
TypeSH
Market value$682.6K
0.35%
Sole
0.00
Shared
0.00
None
3.60K
INVESCO EXCH TRD SLF IDX FD
SOLEShares30.54K
TypeSH
Market value$627.4K
0.32%
Sole
0.00
Shared
0.00
None
30.54K
VANGUARD INTL EQUITY INDEX F
SOLEShares10.51K
TypeSH
Market value$569.5K
0.29%
Sole
0.00
Shared
0.00
None
10.51K
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
VANGUARD INDEX FDSSOLE | S&P 500 ETF SHS | 79.55K | SH | $48.68M 25.00% | 0.00 | 0.00 | 79.55K |
VANGUARD INDEX FDSSOLE | EXTEND MKT ETF | 177.23K | SH | $37.08M 19.04% | 0.00 | 0.00 | 177.23K |
VANGUARD STAR FDSSOLE | VG TL INTL STK F | 348.77K | SH | $25.61M 13.15% | 0.00 | 0.00 | 348.77K |
VANGUARD BD INDEX FDSSOLE | TOTAL BND MRKT | 318.21K | SH | $23.67M 12.15% | 0.00 | 0.00 | 318.21K |
VANGUARD TAX-MANAGED FDSSOLE | VAN FTSE DEV MKT | 223.79K | SH | $13.41M 6.89% | 0.00 | 0.00 | 223.79K |
VANGUARD INDEX FDSSOLE | TOTAL STK MKT | 24.61K | SH | $8.08M 4.15% | 0.00 | 0.00 | 24.61K |
INVESCO EXCH TRD SLF IDX FDSOLE | BULSHS 2026 CB | 192.14K | SH | $3.76M 1.93% | 0.00 | 0.00 | 192.14K |
ISHARES TRSOLE | CORE S&P TTL STK | 22.54K | SH | $3.28M 1.69% | 0.00 | 0.00 | 22.54K |
INVESCO EXCH TRD SLF IDX FDSOLE | BULSHS 2027 CB | 151.72K | SH | $2.99M 1.54% | 0.00 | 0.00 | 151.72K |
APPLE INCSOLE | COM | 11.67K | SH | $2.96M 1.52% | 0.00 | 0.00 | 11.67K |
INVESCO EXCH TRD SLF IDX FDSOLE | BULSHS 2025 CB | 127.81K | SH | $2.64M 1.36% | 0.00 | 0.00 | 127.81K |
MICROSOFT CORPSOLE | COM | 3.74K | SH | $1.93M 0.99% | 0.00 | 0.00 | 3.74K |
ELI LILLY & COSOLE | COM | 2.33K | SH | $1.78M 0.91% | 0.00 | 0.00 | 2.33K |
TRANE TECHNOLOGIES PLCSOLE | SHS | 3.35K | SH | $1.42M 0.73% | 0.00 | 0.00 | 3.35K |
VANGUARD SCOTTSDALE FDSSOLE | INTER TERM TREAS | 22.66K | SH | $1.36M 0.70% | 0.00 | 0.00 | 22.66K |
VANGUARD INDEX FDSSOLE | GROWTH ETF | 2.51K | SH | $1.20M 0.62% | 0.00 | 0.00 | 2.51K |
VANGUARD MUN BD FDSSOLE | TAX EXEMPT BD | 21.65K | SH | $1.08M 0.56% | 0.00 | 0.00 | 21.65K |
AMAZON COM INCSOLE | COM | 4.17K | SH | $916.4K 0.47% | 0.00 | 0.00 | 4.17K |
TYLER TECHNOLOGIES INCSOLE | COM | 1.65K | SH | $862.7K 0.44% | 0.00 | 0.00 | 1.65K |
ISHARES TRSOLE | CORE S&P500 ETF | 1.25K | SH | $834.1K 0.43% | 0.00 | 0.00 | 1.25K |
AMERICAN CENTY ETF TRSOLE | US SML CP VALU | 8.18K | SH | $814.0K 0.42% | 0.00 | 0.00 | 8.18K |
XPO INCSOLE | COM | 5.84K | SH | $755.5K 0.39% | 0.00 | 0.00 | 5.84K |
INVESCO EXCHANGE TRADED FD TSOLE | S&P500 EQL WGT | 3.60K | SH | $682.6K 0.35% | 0.00 | 0.00 | 3.60K |
INVESCO EXCH TRD SLF IDX FDSOLE | INVSCO BLSH 28 | 30.54K | SH | $627.4K 0.32% | 0.00 | 0.00 | 30.54K |
VANGUARD INTL EQUITY INDEX FSOLE | FTSE EMR MKT ETF | 10.51K | SH | $569.5K 0.29% | 0.00 | 0.00 | 10.51K |
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