It can be anything! An apex, subdomain, or even a URL.

Results forhosted.spfdns.net

Resolver

Location

TXT

Name	TTL	Value
hosted.spfdns.net	14400	spf2.0/mfrom +ip4:104.250.127.60/30 +ip4:104.250.127.64/28 +ip4:104.145.233.233/32 +ip4:173.230.150.130/32 +ip4:96.126.104.118/32 -all
hosted.spfdns.net	14400	v=spf1 +ip4:104.250.127.60/30 +ip4:104.250.127.64/28 +ip4:104.145.233.233/32 +ip4:173.230.150.130/32 +ip4:96.126.104.118/32 -all