True North Advisors, LLC — Q3 2025 13F Holdings

Name: True North Advisors, LLC — 13F Holdings, Q3 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001634556

Total reported value

$877.3M

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Full holdings list this quarter

Showing top 200 holdings (of 215 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	LII	Lennox International INC	Stock-Industrials	14.93%	-1.80%	-2.13%
2	AAPL	Apple INC	Stock-Tech	12.32%	-1.93%	+173.78%
3	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	6.39%	-2.00%	-0.48%
4	AMZN	Amazon.com INC	Stock-Consumer Disc	4.84%	-0.92%	+431.29%
5	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	4.09%	-0.83%	+561.45%
6	NVDA	Nvidia CORP	Stock-Tech	3.80%	-0.47%	+288.96%
7	MSFT	Microsoft CORP	Stock-Tech	3.32%	-0.66%	+52.90%
8	META	Meta Platforms Inc-class A	Stock-Comm Services	2.68%	-0.74%	+398.66%
9	BAC	Bank Of America CORP	Stock-Financials	2.18%	-0.42%	+287.10%
10	AVGO	Broadcom INC	Stock-Tech	1.90%	-0.29%	+9.83%
11	COST	Costco Wholesale CORP	Stock-Consumer Staples	1.45%	+0.11%	+2.01%
12	GOVT	Ishares US Treasury Bond ETF	ETF-Gov Bonds	1.34%	+0.96%	NEW
13	AVDV	Avantis Intl S/c Value ETF	ETF-Other	1.24%	—	—
14	XOM	Exxon Mobil CORP	Stock-Energy	1.22%	+0.20%	+5.41%
15	IAU	Ishares Gold Trust	ETF-Commodities	1.20%	-1.07%	EXIT
16	FAST	Fastenal Co	Stock-Industrials	1.08%	—	-1.67%
17	GE	General Electric	Stock-Industrials	1.03%	—	-12.76%
18	JPM	Jpmorgan Chase & Co	Stock-Financials	1.01%	-0.20%	+12.60%
19	V	Visa Inc-class A Shares	Stock-Financials	0.92%	—	+12.30%
20	IWF	Ishares Russell 1000 Growth	ETF-Other	0.89%	—	+0.05%
21	KMX	Carmax INC	Stock-Consumer Disc	0.88%	+0.41%	NEW
22	EPD	Enterprise Products Partners	Stock-Energy	0.75%	-0.62%	EXIT
23	LRCX	Lam Research CORP	Stock-Tech	0.69%	—	+4.95%
24	ABBV	Abbvie INC	Stock-Healthcare	0.67%	—	+5.88%
25	APH	Amphenol Corp-cl A	Stock-Tech	0.66%	-0.20%	-8.17%
26	CTVA	Corteva INC	Stock-Materials	0.65%	+0.05%	+0.16%
27	HD	Home Depot INC	Stock-Consumer Disc	0.59%	—	-0.08%
28	MLM	Martin Marietta Materials	Stock-Materials	0.54%	—	+0.88%
29	MS	Morgan Stanley	Stock-Financials	0.53%	—	-5.37%
30	GEV	GE Vernova INC	Stock-Industrials	0.51%	+0.08%	-12.52%
31	6D8	Dupont De Nemours INC	Stock-Other	0.51%	—	+0.09%
32	SYK	Stryker CORP	Stock-Healthcare	0.50%	—	+6.84%
33	TPL	Texas Pacific Land CORP	Stock-Energy	0.50%	-0.37%	EXIT
34	DFAC	Dimensional US Core Equity 2	ETF-Other	0.49%	-0.21%	—
35	SGOL	Abrdn Physical Gold Shares	ETF-Commodities	0.48%	-0.45%	EXIT
36	IBIT	Ishares Bitcoin Trust ETF	ETF-Crypto	0.44%	-0.22%	EXIT
37	JEPI	Jpmorgan Equity Premium Inco	ETF-Other	0.43%	—	+7.58%
38	ORCL	Oracle CORP	Stock-Tech	0.42%	—	+17.19%
39	LLY	Eli Lilly & Co	Stock-Healthcare	0.42%	—	+17.05%
40	ABT	Abbott Laboratories	Stock-Healthcare	0.41%	—	-1.49%
41	ALL	Allstate CORP	Stock-Financials	0.40%	—	+0.79%
42	CRM	Salesforce INC	Stock-Tech	0.39%	—	-1.98%
43	CAT	Caterpillar INC	Stock-Industrials	0.39%	—	+2.49%
44	DHI	Dr Horton INC	Stock-Consumer Disc	0.39%	—	-8.06%
45	KR	Kroger Co	Stock-Consumer Staples	0.39%	—	-7.46%
46	SPGI	S&p Global INC	Stock-Financials	0.39%	—	+5.70%
47	DOW	Dow INC	Stock-Materials	0.35%	+0.17%	-0.08%
48	SHW	Sherwin-williams Co/the	Stock-Materials	0.34%	—	-5.01%
49	CVX	Chevron CORP	Stock-Energy	0.34%	+0.11%	+42.63%
50	PAYX	Paychex INC	Stock-Tech	0.34%	—	-4.06%

1–50 of 200

Holding changes this quarter

Position changes disclosed by True North Advisors, LLC for the quarter ending Q3 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AAPL	Apple INC	+8.1%	+173.78%	Add
2	AMZN	Amazon.com INC	+3.8%	+431.29%	Add
3	SPY	Ss Spdr S&p 500 ETF Trust-us	+3.4%	+561.45%	Add
4	NVDA	Nvidia CORP	+3.3%	+288.96%	Add
5	META	Meta Platforms Inc-class A	+2.5%	+398.66%	Add
6	BAC	Bank Of America CORP	+1.6%	+287.10%	Add
7	MSFT	Microsoft CORP	+1.4%	+52.90%	Add
8	IAU	Ishares Gold Trust	+1.1%	+858.09%	Add
9	AVGO	Broadcom INC	+1.1%	+9.83%	Add
10	ORCL	Oracle CORP	+0.3%	+17.19%	Add
11	LRCX	Lam Research CORP	+0.2%	+4.95%	Trim
12	ALLE	Allegion plc	+0.2%	+5.99%	Add
13	AMAT	Applied Materials INC	+0.2%	+12.56%	Add
14	BHST	Bioharvest Sciences INC	+0.2%	+676.11%	Add
15	GEV	GE Vernova INC	+0.2%	-12.52%	Trim
16	APH	Amphenol Corp-cl A	+0.2%	-8.17%	Trim
17	GE	General Electric	+0.2%	-12.76%	Trim
18	SBAC	Sba Communications CORP	-0.3%	-35.72%	Trim
19	TPL	Texas Pacific Land CORP	-0.3%	+0.27%	Trim
20	BRK-B	Berkshire Hathaway Inc-cl B	-1.4%	-0.48%	Trim
21	GOVT	Ishares US Treasury Bond ETF	-1.5%	-20.96%	Trim
22	LII	Lennox International INC	-3.1%	-2.13%	Trim
23	VB	Vanguard Small-cap ETF	—	EXIT	Sold out
24	JMBS	Janus Henderson Mortg Backed	—	EXIT	Sold out
25	CORP	Pimco Inv Grade CORP Bd ETF	—	EXIT	Sold out
26	AVDV	Avantis Intl S/c Value ETF	—	NEW	New buy
27	MUNI	Pimco Intermediate Municipal	—	EXIT	Sold out
28	SCHX	Schwab US Large-cap ETF	—	EXIT	Sold out
29	GOOG	Alphabet Inc-cl C	—	EXIT	Sold out
30	GOOGL	Alphabet Inc-cl A	—	EXIT	Sold out
31	NUV	Nuveen Municipal Value	—	EXIT	Sold out
32	VOO	Vanguard S&p 500 ETF	—	EXIT	Sold out
33	MKL	Markel Group INC	—	EXIT	Sold out
34	VTI	Vanguard Total Stock Mkt ETF	—	EXIT	Sold out
35	FNDX	Schwab Fndmntl US Lrg Co ETF	—	EXIT	Sold out
36	SCHM	Schwab US Mid Cap ETF	—	EXIT	Sold out
37	ACN	Accenture plc	—	EXIT	Sold out
38	IBIT	Ishares Bitcoin Trust ETF	—	NEW	New buy
39	FNDF	Schwab Fndmn Intl Lrg Co ETF	—	EXIT	Sold out
40	VIOO	Vanguard S&p Small-cap 600 E	—	EXIT	Sold out
41	BX	Blackstone INC	—	EXIT	Sold out
42	APO	Apollo Global Management INC	—	EXIT	Sold out
43	SCHV	Schwab US Large-cap Value	—	EXIT	Sold out
44	CBRE	Cbre Group INC - A	—	EXIT	Sold out
45	FISV	Fiserv INC	—	EXIT	Sold out
46	VMBS	Vanguard Mortgage-backed Sec	—	EXIT	Sold out
47	ELV	Elevance Health INC	—	EXIT	Sold out
48	SPDW	Ste Str Spdr Pt Dw EU ETF	—	EXIT	Sold out
49	SCHG	Schwab US Large-cap Growth	—	EXIT	Sold out
50	MSI	Motorola Solutions INC	—	NEW	New buy