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Asset Manager ← All Institutions

True North Advisors, LLC

3131 TURTLE CREEK BOULEVARD SUITE 1300, DALLAS, TX 75219 • 214-360-7300

Q2 2025 · Filed 2025-07-16
Market Value
$521M
-7.5%
Holdings
251
+1
New Purchases
11
Added To
67
Closed
32
Reduced
106
Top 10 Concentration
46.8%
Turnover
17.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LII 19.98% 18.05% +1.94% $104M
AVGO 1.75% 0.83% +0.92% $9M
MSFT 2.52% 1.97% +0.55% $13M
NVDA 1.00% 0.47% +0.53% $5M
META 0.65% 0.23% +0.42% $3M
GE 1.22% 0.88% +0.34% $6M
GEV 0.61% 0.32% +0.28% $3M
COST 1.84% 1.57% +0.27% $10M
MSI 0.21% 0.00% +0.21% $1M
AMAT 0.24% 0.04% +0.20% $1M
MUNI 1.40% 1.20% +0.20% $7M
ALLE 0.23% 0.04% +0.20% $1M
RMD 0.24% 0.05% +0.19% $1M
APH 0.69% 0.50% +0.19% $4M
CTVA 0.87% 0.68% +0.19% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOG 0.00% 1.08% -1.08% $0
GOOGL 0.00% 0.82% -0.82% $0
GOVT 2.04% 2.83% -0.79% $11M
JMBS 2.33% 3.10% -0.77% $12M
VOO 0.00% 0.77% -0.77% $0
MKL 0.00% 0.73% -0.73% $0
CORP 1.37% 1.99% -0.62% $7M
ACN 0.00% 0.54% -0.54% $0
BX 0.00% 0.39% -0.39% $0
APO 0.00% 0.37% -0.37% $0
BRK-B 7.50% 7.85% -0.34% $39M
CBRE 0.00% 0.31% -0.31% $0
FI 0.00% 0.30% -0.30% $0
ABBV 0.61% 0.88% -0.27% $3M
ANTM 0.06% 0.29% -0.23% $298K

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 53.6%
Technology 17.4%
Industrials 12.2%
Consumer Cyclical 5.5%
Healthcare 3.0%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 61 $193M 37.1%
Large Cap 166 $280M 53.7%
Mid Cap 15 $33M 6.4%
Small Cap 9 $14M 2.8%

Portfolio Analytics

Avg Market Cap
$271.2B
Median Market Cap
$71.3B
Avg P/E
33.5
Median P/E
25.6
Avg Dividend Yield
0.02%
Avg Beta
0.93
# Stocks
179
# ETFs / Funds
72

Top Holdings (251 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 LII 19.98% 181,586 $104M $573.24 $2M +367 +0.2%
2 BRK-B 7.50% 80,455 $39M $485.77 -$5M -2,527 -3.0%
3 AAPL 4.38% 111,335 $23M $205.17 -$1M +2,982 +2.8%
4 VB 3.05% 67,103 $16M $236.98 -$3M -16,159 -19.4%
5 MSFT 2.52% 26,427 $13M $497.42 $2M -3,163 -10.7%
6 JMBS 2.33% 269,270 $12M $45.05 -$5M -117,182 -30.3%
7 GOVT 2.04% 462,344 $11M $22.98 -$5M -231,967 -33.4%
8 COST 1.84% 9,685 $10M $989.95 $730K +319 +3.4%
9 AVGO 1.75% 32,993 $9M $275.65 $4M +5,136 +18.4%
10 MUNI 1.40% 141,748 $7M $51.36 $538K +10,961 +8.4%
11 CORP 1.37% 73,494 $7M $97.31 -$4M -42,347 -36.6%
12 XOM 1.33% 64,513 $7M $107.80 -$2M -6,606 -9.3%
13 GE 1.22% 24,672 $6M $257.39 $1M -34 -0.1%
14 FAST 1.14% 141,350 $6M $42.00 $69K +65,681 +86.8%
15 SCHX 1.14% 242,746 $6M $24.44 -$716K -58,352 -19.4%
16 AMZN 1.10% 26,117 $6M $219.39 $29K -3,846 -12.8%
17 V 1.03% 15,124 $5M $355.06 -$300K -1,054 -6.5%
18 NVDA 1.00% 32,971 $5M $157.99 $3M +8,488 +34.7%
19 JPM 1.00% 17,904 $5M $289.91 $123K -2,755 -13.3%
20 IWF 0.98% 12,019 $5M $424.58 -$31K -2,200 -15.5%
21 KMX 0.96% 74,292 $5M $67.21 $569K +17,513 +30.8%
22 EPD 0.90% 150,553 $5M $31.01 -$497K -748 -0.5%
23 CTVA 0.87% 60,476 $5M $74.53 $703K +23 +0.0%
24 VTI 0.77% 13,168 $4M $303.93 $387K +14 +0.1%
25 SPY 0.69% 5,841 $4M $617.90 -$287K -1,123 -16.1%
26 APH 0.69% 36,540 $4M $98.75 $784K -6,526 -15.2%
27 NUV 0.69% 412,922 $4M $8.69 -$891K -97,855 -19.2%
28 TPL 0.68% 3,336 $4M $1,056.35 -$1M -178 -5.1%
29 FNDX 0.67% 142,741 $4M $24.54 $430K +12,577 +9.7%
30 META 0.65% 4,614 $3M $738.07 $2M +2,340 +102.9%
31 HD 0.65% 9,200 $3M $366.63 $22K +56 +0.6%
32 BAC 0.63% 68,867 $3M $47.32 -$212K -14,296 -17.2%
33 ABBV 0.61% 17,194 $3M $185.62 -$2M -6,499 -27.4%
34 SYK 0.61% 8,017 $3M $395.63 -$68K -685 -7.9%
35 GEV 0.61% 5,974 $3M $529.15 $1M +11 +0.2%
36 MS 0.60% 22,371 $3M $140.86 $302K -2,052 -8.4%
37 LRCX 0.58% 31,142 $3M $97.34 $511K -3,522 -10.2%
38 MLM 0.56% 5,332 $3M $548.96 $363K -30 -0.6%
39 CRM 0.56% 10,663 $3M $272.69 -$193K -892 -7.7%
40 DFAC 0.55% 79,903 $3M $35.84 $228K
41 DD 0.54% 41,060 $3M $68.59 -$266K -217 -0.5%
42 KR 0.54% 38,925 $3M $71.73 -$126K -4,192 -9.7%
43 SCHM 0.53% 97,978 $3M $28.05 -$318K -19,073 -16.3%
44 FNDF 0.51% 66,834 $3M $40.02 $476K +5,997 +9.9%
45 ABT 0.51% 19,490 $3M $136.01 -$728K -5,983 -23.5%
46 DOW 0.49% 97,361 $3M $26.48 -$826K -118 -0.1%
47 PAYX 0.49% 17,651 $3M $145.46 -$453K -1,928 -9.8%
48 SGOL 0.49% 81,365 $3M $31.54 -$115K -8,547 -9.5%
49 JEPI 0.48% 44,281 $3M $56.85 $475K +8,530 +23.9%
50 SPGI 0.48% 4,719 $2M $527.29 -$174K -521 -9.9%
51 ALL 0.45% 11,654 $2M $201.31 -$492K -2,050 -15.0%
52 LLY 0.44% 2,956 $2M $779.53 -$467K -399 -11.9%
53 TXN 0.44% 11,045 $2M $207.62 $206K -569 -4.9%
54 SHW 0.43% 6,587 $2M $343.36 -$616K -1,655 -20.1%
55 TSCO 0.40% 39,359 $2M $52.77 -$497K -7,351 -15.7%
56 DHI 0.39% 15,799 $2M $128.92 -$486K -4,048 -20.4%
57 CAT 0.38% 5,058 $2M $388.19 $240K -169 -3.2%
58 ZTS 0.37% 12,334 $2M $155.95 -$729K -3,775 -23.4%
59 QQQ 0.36% 3,390 $2M $551.66 $653K +794 +30.6%
60 ET 0.34% 98,006 $2M $18.13 -$75K -1,611 -1.6%
61 ORCL 0.34% 8,034 $2M $218.63 $926K +2,093 +35.2%
62 VIOO 0.33% 17,049 $2M $101.23 -$462K -5,619 -24.8%
63 XLE 0.31% 19,200 $2M $84.81 -$187K -228 -1.2%
64 NEE 0.31% 23,338 $2M $69.42 -$818K -11,059 -32.1%
65 SCHV 0.30% 57,401 $2M $27.67 -$231K -11,037 -16.1%
66 IWD 0.30% 7,969 $2M $194.23 $48K
67 SCHG 0.30% 52,689 $2M $29.21 $146K -2,960 -5.3%
68 DFAT 0.29% 28,257 $2M $53.96 $70K
69 SPDW 0.29% 37,528 $2M $40.49 $120K -900 -2.3%
70 COP 0.28% 16,541 $1M $89.74 -$704K -4,301 -20.6%
71 TM 0.28% 8,598 $1M $172.26 $564K +3,401 +65.4%
72 NTAP 0.28% 13,899 $1M $106.55 $930K +7,632 +121.8%
73 BRK-A 0.28% 2 $1M $728,800.00 -$139K
74 VMBS 0.28% 31,382 $1M $46.34 -$178K -3,868 -11.0%
75 CVX 0.27% 9,779 $1M $143.19 -$688K -2,707 -21.7%
76 PFE 0.25% 54,716 $1M $24.24 -$114K -2,139 -3.8%
77 TSLA 0.25% 4,076 $1M $317.68 $317K +302 +8.0%
78 AMAT 0.24% 6,948 $1M $183.07 $1M +5,418 +354.1%
79 RMD 0.24% 4,847 $1M $258.00 $981K +3,642 +302.2%
80 JNJ 0.24% 8,117 $1M $152.75 -$180K -443 -5.2%
81 ALLE 0.23% 8,465 $1M $144.12 $1M +6,860 +427.4%
82 IVV 0.23% 1,950 $1M $620.93 -$234K -622 -24.2%
83 FNDA 0.23% 41,982 $1M $28.65 $121K +2,498 +6.3%
84 ISRG 0.23% 2,186 $1M $543.48 $324K +442 +25.3%
85 WMT 0.23% 12,035 $1M $97.78 $619K +5,678 +89.3%
86 APD 0.22% 4,120 $1M $282.06 -$99K -156 -3.6%
87 LMT 0.22% 2,454 $1M $463.14 $851K +1,815 +284.0%
88 ACVA 0.22% 69,301 $1M $16.22 $248K +7,117 +11.4%
89 MSI 0.21% 2,627 $1M $420.46 +2,627 NEW
90 PG 0.20% 6,681 $1M $159.33 -$53K +125 +1.9%
91 VV 0.20% 3,729 $1M $285.30 $105K
92 IWO 0.20% 3,658 $1M $285.86 $74K -144 -3.8%
93 SCHZ 0.19% 43,401 $1M $23.24 -$119K -5,300 -10.9%
94 ASML 0.19% 1,253 $1M $801.39 $265K +137 +12.3%
95 OSK 0.19% 8,580 $974K $113.54 $167K
96 DECK 0.19% 9,415 $970K $103.07 +9,415 NEW
97 MRK 0.18% 12,085 $957K $79.16 -$171K -483 -3.8%
98 KLAC 0.18% 1,044 $935K $895.74 +1,044 NEW
99 DIA 0.18% 2,103 $927K $440.66 $46K +6 +0.3%
100 FNDC 0.18% 21,835 $918K $42.05 $135K +212 +1.0%

New Positions

SymbolValue% Port
MSI $1M 0.21%
DECK $970K 0.19%
KLAC $935K 0.18%
AAAU $654K 0.13%
TSM $419K 0.08%
PTLC $264K 0.05%
ROK $230K 0.04%
GS $226K 0.04%
DLR $215K 0.04%
PSX $205K 0.04%
BBD $69K 0.01%

Sold Out Positions

SymbolValue% Port
ACN —%
CB —%
AMT —%
ANET —%
DHR —%
ECL —%
APO —%
BLK —%
EOG —%
CBRE —%
CCI —%
BX —%
MKL —%
OXY —%
AWK —%
View SEC EDGAR Filings for True North Advisors, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms