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KFG LLC — 13F Holdings & Portfolio

CIK 2160137 · latest 13F-HR filed 2026-11-02

Backtest portfolio

KFG LLC manages $150.7M in 13F-reported U.S. long-equity assets across 708 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are BND (10.92%), BNDX (5.60%), DFAC (5.08%).

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$150.7M

Long-equity book

Holdings
708

Distinct positions

Period
2026-09-30

Filed 2026-11-02

Q/Q Activity
—

no prior filing cached

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
BND11.2%BNDX5.7%DFAC5.4%AVUS5.4%IWB5.0%VTIP4.2%AVDE3.1%DFIC2.9%VOO2.6%VTI2.5%MTUM2.4%VEA2.4%VT2.1%CET1.9%AAPL1.8%AVEM1.7%AVUV1.6%CGSM1.5%QUAL1.5%XLP1.2%DFEM1.1%VO1.1%JNK1.1%VNQ1.0%AVLV1.0%SPY0.9%IMTM0.9%USMV0.9%NWFL0.9%MCD0.8%VWO0.7%SPDW0.7%VB0.6%NVDA0.6%IBDU0.5%IBDS0.5%IBDT0.5%AVDV0.5%IUSG0.5%AVIV0.5%REET0.4%EFAV0.4%AVES0.4%VIG0.4%IEFA0.4%EEMV0.3%IEMG0.3%USHY0.3%IJR0.3%JNJ0.3%PEP0.3%PG0.3%AMZN0.3%IBDR0.3%SLV0.3%BNDW0.3%GOOG0.3%MSFT0.3%AAUB0.2%VXUS0.2%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

1 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 48%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Jul 8, 2026.

Assets Under Management
$188.1M
Discretionary
$144.4M
Employees
10
Accounts
516
Address
429 QUINCY STREET
RAPID CITY, SD 57701
Phone
(605) 343-1400
Website
Name Title / Status Ownership Type
Freidel, Paul, Harold ControlCHIEF COMPLIANCE OFFICER, CEO AND MANAGING MEMBER
since Jul 2025
50–75%Individual
KAHLER FINANCIAL GROUP, INC. ControlMEMBER
since Jul 2025
25–50%Domestic Entity
PAULDING, BENJAMIN, AARONCFO/COO AND MANAGING MEMBER
since Jul 2025
10–25%Individual
FIRST AMERICAN TRUST (REVOCABLE TRUST/RICHARD KAHLER TRUSTEE) Control
Indirect owner via KAHLER FINANCIAL GROUP, INC.
OWNER - 99% VOTING SHARES
since Jan 2020
General partner, trustee or managerDomestic Entity
KAHLER, RICHARD, STEVEN Control
Indirect owner via FIRST AMERICAN TRUST (REVOCABLE TRUST/RICHARD KAHLER TRUSTEE)
TRUSTEE
since May 1989
General partner, trustee or managerIndividual
Ownership & leadership changes · 3 filings with changes since Aug 1, 2025

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Feb 12, 2026 filing
  • No longer listedKAHLER, RICHARD, STEVEN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Aug 2025
  • ChangedFreidel, Paul, Harold · title CEO AND MANAGING MEMBER → CHIEF COMPLIANCE OFFICER, CEO AND MANAGING MEMBER
Aug 15, 2025 filing
  • No longer listedFIRST AMERICAN TRUST · OWNER - 99% VOTING SHARES · General partner, trustee or manager · indirect via KAHLER FINANCIAL GROUP, INC. · control person · listed since Jan 2020
  • No longer listedKAHLER, RICHARD, STEVEN · TRUSTEE · General partner, trustee or manager · indirect via FIRST AMERICAN TRUST · control person · listed since May 1989
  • AddedFIRST AMERICAN TRUST (REVOCABLE TRUST/RICHARD KAHLER TRUSTEE) · OWNER - 99% VOTING SHARES · General partner, trustee or manager · indirect via KAHLER FINANCIAL GROUP, INC. · control person
  • AddedKAHLER, RICHARD, STEVEN · TRUSTEE · General partner, trustee or manager · indirect via FIRST AMERICAN TRUST (REVOCABLE TRUST/RICHARD KAHLER TRUSTEE) · control person
  • ChangedFreidel, Paul, Harold · title OWNER → CEO AND MANAGING MEMBER
  • ChangedKAHLER FINANCIAL GROUP, INC. · title OWNER → MEMBER
  • ChangedPAULDING, BENJAMIN, AARON · title OWNER → CFO/COO AND MANAGING MEMBER
Aug 13, 2025 filing
  • No longer listedKAHLER FINANCIAL GROUP, INC. · OWNER · 25–50% · control person · listed since Jul 2025
  • AddedKAHLER FINANCIAL GROUP, INC. · OWNER · 25–50% · control person
Aug 1, 2025 filing (earliest on record)
  • ListedFIRST AMERICAN TRUST · OWNER - 99% VOTING SHARES · General partner, trustee or manager · indirect via KAHLER FINANCIAL GROUP, INC. · control person
  • ListedFreidel, Paul, Harold · OWNER · 50–75% · control person
  • ListedKAHLER FINANCIAL GROUP, INC. · OWNER · 25–50% · control person
  • ListedKAHLER, RICHARD, STEVEN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedKAHLER, RICHARD, STEVEN · TRUSTEE · General partner, trustee or manager · indirect via FIRST AMERICAN TRUST · control person
  • ListedPAULDING, BENJAMIN, AARON · OWNER · 10–25%

Top Adds (vs prior quarter)

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Top Trims

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New Positions

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Exited Positions

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KFG LLC Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 VANGUARD BD INDEX FDS BND 921937835 $16.5M 10.92% 234,591 SH
2 VANGUARD CHARLOTTE FDS BNDX 92203J407 $8.4M 5.60% 180,154 SH
3 DIMENSIONAL ETF TRUST DFAC 25434V708 $7.7M 5.08% 172,118 SH
4 AMERICAN CENTY ETF TR AVUS 025072885 $7.6M 5.07% 59,685 SH
5 ISHARES TR IWB 464287622 $7.6M 5.03% 18,205 SH
6 VANGUARD MALVERN FDS VTIP 922020805 $5.5M 3.65% 111,876 SH
7 AMERICAN CENTY ETF TR AVDE 025072703 $4.6M 3.06% 51,111 SH
8 DIMENSIONAL ETF TRUST DFIC 25434V799 $4.3M 2.87% 114,877 SH
9 VANGUARD INDEX FDS VOO 922908363 $4.0M 2.64% 5,671 SH
10 ISHARES TR MTUM 46432F396 $3.5M 2.35% 11,155 SH
11 VANGUARD TAX-MANAGED FDS VEA 921943858 $3.5M 2.32% 49,576 SH
12 VANGUARD INDEX FDS VTI 922908769 $3.5M 2.30% 9,249 SH
13 VANGUARD INTL EQUITY INDEX F VT 922042742 $3.0M 1.98% 18,888 SH
14 APPLE INC AAPL 037833100 $2.6M 1.75% 7,913 SH
15 CENTRAL SECS CORP CET 155123102 $2.5M 1.68% 45,675 SH
16 AMERICAN CENTY ETF TR AVEM 025072604 $2.5M 1.65% 26,397 SH
17 CAPITAL GRP FIXED INCM ETF T CGSM 14020Y607 $2.3M 1.50% 87,769 SH
18 SELECT SECTOR SPDR TR XLP 81369Y308 $1.8M 1.17% 21,810 SH
19 DIMENSIONAL ETF TRUST DFEM 25434V732 $1.7M 1.12% 42,385 SH
20 VANGUARD INDEX FDS VO 922908629 $1.6M 1.09% 20,964 SH
21 SPDR SERIES TRUST JNK 78468R622 $1.6M 1.08% 17,603 SH
22 ISHARES TR QUAL 46432F339 $1.6M 1.04% 7,024 SH
23 VANGUARD INDEX FDS VNQ 922908553 $1.6M 1.03% 17,390 SH
24 AMERICAN CENTY ETF TR AVLV 025072349 $1.6M 1.03% 17,214 SH
25 AMERICAN CENTY ETF TR AVUV 025072877 $1.5M 1.02% 13,016 SH
26 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $1.4M 0.94% 1,863 SH
27 ISHARES TR IMTM 46434V449 $1.4M 0.93% 26,561 SH
28 ISHARES TR USMV 46429B697 $1.4M 0.92% 14,211 SH
29 NORWOOD FINANCIAL CORP NWFL 669549107 $1.4M 0.90% 41,146 SH
30 MCDONALDS CORP MCD 580135101 $1.3M 0.84% 5,496 SH
31 VANGUARD INTL EQUITY INDEX F VWO 922042858 $1.0M 0.68% 17,290 SH
32 SPDR INDEX SHS FDS SPDW 78463X889 $1.0M 0.68% 20,377 SH
33 VANGUARD INDEX FDS VB 922908751 $858.3K 0.57% 3,017 SH
34 AMERICAN CENTY ETF TR AVUV 025072877 $853.0K 0.57% 7,243 SH
35 VANGUARD MALVERN FDS VTIP 922020805 $828.7K 0.55% 16,836 SH
36 ISHARES TR IBDU 46436E205 $819.7K 0.54% 36,128 SH
37 NVIDIA CORPORATION NVDA 67066G104 $814.5K 0.54% 3,566 SH
38 ISHARES TR IBDS 46435UAA9 $812.6K 0.54% 33,688 SH
39 ISHARES TR IBDT 46435U515 $784.8K 0.52% 31,442 SH
40 AMERICAN CENTY ETF TR AVDV 025072802 $721.6K 0.48% 6,597 SH
41 ISHARES TR IUSG 464287671 $701.8K 0.47% 3,622 SH
42 AMERICAN CENTY ETF TR AVIV 025072364 $671.9K 0.45% 8,438 SH
43 ISHARES TR REET 46434V647 $658.4K 0.44% 25,541 SH
44 ISHARES TR EFAV 46429B689 $648.8K 0.43% 7,120 SH
45 ISHARES TR QUAL 46432F339 $635.2K 0.42% 2,858 SH
46 VANGUARD SPECIALIZED FUNDS VIG 921908844 $609.2K 0.40% 2,611 SH
47 AMERICAN CENTY ETF TR AVES 025072372 $606.4K 0.40% 9,311 SH
48 ISHARES TR IEFA 46432F842 $559.8K 0.37% 5,778 SH
49 DIMENSIONAL ETF TRUST DFAC 25434V708 $523.9K 0.35% 11,786 SH
50 ISHARES INC EEMV 464286533 $492.2K 0.33% 6,647 SH
Filer Information
Address
429 QUINCY STREET
RAPID CITY, SD 57701
Phone
(605) 600-8365
Filing Manager
KFG LLC
RAPID CITY, SD
Signatory
Stephanie Long
Operations Manager