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Asset Manager ← All Institutions

True North Advisors, LLC

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

Q3 2025 · Filed 2025-10-14
Market Value
$627M
+20.4%
Holdings
254
+3
New Purchases
35
Added To
121
Closed
42
Reduced
42
Top 10 Concentration
56.7%
Turnover
30.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 12.37% 4.38% +7.98% $78M
AMZN 4.86% 1.10% +3.76% $30M
SPY 4.10% 0.69% +3.41% $26M
NVDA 3.81% 1.00% +2.81% $24M
META 2.69% 0.65% +2.04% $17M
BAC 2.19% 0.63% +1.57% $14M
AVDV 1.25% 0.00% +1.25% $8M
IAU 1.20% 0.13% +1.07% $8M
MSFT 3.34% 2.52% +0.81% $21M
IBIT 0.44% 0.00% +0.44% $3M
IWB 0.17% 0.00% +0.17% $1M
AVGO 1.91% 1.75% +0.16% $12M
TLT 0.13% 0.00% +0.13% $809K
MU 0.13% 0.00% +0.13% $801K
LRCX 0.70% 0.58% +0.12% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LII 14.99% 19.98% -4.99% $94M
VB 0.00% 3.05% -3.05% $0
JMBS 0.00% 2.33% -2.33% $0
MUNI 0.00% 1.40% -1.40% $0
CORP 0.00% 1.37% -1.37% $0
SCHX 0.00% 1.14% -1.14% $0
BRK-B 6.42% 7.50% -1.09% $40M
VTI 0.00% 0.77% -0.77% $0
GOVT 1.35% 2.04% -0.69% $8M
NUV 0.00% 0.69% -0.69% $0
FNDX 0.00% 0.67% -0.67% $0
SCHM 0.00% 0.53% -0.53% $0
FNDF 0.00% 0.51% -0.51% $0
COST 1.46% 1.84% -0.38% $9M
QQQ 0.00% 0.36% -0.36% $0

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 60 $357M 56.9%
Large Cap 163 $253M 40.4%
Mid Cap 19 $13M 2.1%
Small Cap 11 $4M 0.6%
Micro Cap 1 $24K 0.0%

Portfolio Analytics

Avg Market Cap
$229.1B
Median Market Cap
$71.1B
Avg P/E
33.6
Median P/E
24.3
Avg Dividend Yield
0.02%
Avg Beta
0.93
# Stocks
178
# ETFs / Funds
76

Top Holdings (254 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 LII 14.99% 177,727 $94M $529.36 -$10M -3,859 -2.1%
2 AAPL 12.37% 304,809 $78M $254.63 $55M +193,474 +173.8%
3 BRK-B 6.42% 80,072 $40M $502.74 $1M -383 -0.5%
4 AMZN 4.86% 138,757 $30M $219.57 $25M +112,640 +431.3%
5 SPY 4.10% 38,635 $26M $666.17 $22M +32,794 +561.4%
6 NVDA 3.81% 128,244 $24M $186.58 $19M +95,273 +289.0%
7 MSFT 3.34% 40,408 $21M $517.95 $8M +13,981 +52.9%
8 META 2.69% 23,008 $17M $734.37 $13M +18,394 +398.7%
9 BAC 2.19% 266,586 $14M $51.59 $10M +197,719 +287.1%
10 AVGO 1.91% 36,236 $12M $329.91 $3M +3,243 +9.8%
11 COST 1.46% 9,880 $9M $925.66 -$442K +195 +2.0%
12 GOVT 1.35% 365,418 $8M $23.12 -$2M -96,926 -21.0%
13 AVDV 1.25% 87,812 $8M $89.03 +87,812 NEW
14 XOM 1.22% 68,004 $8M $112.75 $713K +3,491 +5.4%
15 IAU 1.20% 103,876 $8M $72.77 $7M +93,034 +858.1%
16 FAST 1.09% 138,985 $7M $49.04 $879K -2,365 -1.7%
17 GE 1.03% 21,524 $6M $300.82 $124K -3,148 -12.8%
18 JPM 1.01% 20,159 $6M $315.43 $1M +2,255 +12.6%
19 V 0.92% 16,984 $6M $341.38 $428K +1,860 +12.3%
20 IWF 0.90% 12,025 $6M $468.41 $530K +6 +0.1%
21 KMX 0.88% 123,742 $6M $44.87 $559K +49,450 +66.6%
22 EPD 0.75% 150,669 $5M $31.27 $43K +116 +0.1%
23 LRCX 0.70% 32,683 $4M $133.90 $1M +1,541 +5.0%
24 ABBV 0.67% 18,205 $4M $231.54 $1M +1,011 +5.9%
25 APH 0.66% 33,555 $4M $123.75 $544K -2,985 -8.2%
26 CTVA 0.65% 60,570 $4M $67.63 -$411K +94 +0.2%
27 HD 0.59% 9,193 $4M $405.19 $352K -7 -0.1%
28 MLM 0.54% 5,379 $3M $630.28 $463K +47 +0.9%
29 MS 0.54% 21,170 $3M $158.96 $214K -1,201 -5.4%
30 GEV 0.51% 5,226 $3M $614.93 $52K -748 -12.5%
31 DD 0.51% 41,098 $3M $77.90 $385K +38 +0.1%
32 SYK 0.50% 8,565 $3M $369.67 -$6K +548 +6.8%
33 TPL 0.50% 3,345 $3M $933.59 -$401K +9 +0.3%
34 DFAC 0.49% 79,903 $3M $38.57 $218K
35 SGOL 0.48% 81,712 $3M $36.81 $442K +347 +0.4%
36 IBIT 0.44% 42,489 $3M $65.00 +42,489 NEW
37 JEPI 0.43% 47,637 $3M $57.10 $203K +3,356 +7.6%
38 ORCL 0.42% 9,415 $3M $281.24 $891K +1,381 +17.2%
39 LLY 0.42% 3,460 $3M $763.00 $336K +504 +17.1%
40 ABT 0.41% 19,200 $3M $133.94 -$79K -290 -1.5%
41 ALL 0.40% 11,746 $3M $214.65 $175K +92 +0.8%
42 CRM 0.39% 10,452 $2M $237.01 -$430K -211 -2.0%
43 CAT 0.39% 5,184 $2M $477.13 $510K +126 +2.5%
44 DHI 0.39% 14,526 $2M $169.47 $425K -1,273 -8.1%
45 KR 0.39% 36,022 $2M $67.41 -$364K -2,903 -7.5%
46 SPGI 0.39% 4,988 $2M $486.71 -$61K +269 +5.7%
47 DOW 0.36% 97,280 $2M $22.93 -$347K -81 -0.1%
48 SHW 0.35% 6,257 $2M $346.27 -$95K -330 -5.0%
49 CVX 0.35% 13,948 $2M $155.29 $766K +4,169 +42.6%
50 PAYX 0.34% 16,935 $2M $126.76 -$421K -716 -4.1%
51 TSLA 0.34% 4,742 $2M $444.71 $814K +666 +16.3%
52 TXN 0.33% 11,390 $2M $183.73 -$200K +345 +3.1%
53 TSCO 0.32% 35,256 $2M $56.87 -$72K -4,103 -10.4%
54 JNJ 0.29% 9,928 $2M $185.42 $601K +1,811 +22.3%
55 IWD 0.29% 8,879 $2M $203.59 $260K +910 +11.4%
56 XLE 0.28% 19,775 $2M $89.34 $138K +575 +3.0%
57 NTAP 0.28% 14,805 $2M $118.46 $273K +906 +6.5%
58 ET 0.27% 97,987 $2M $17.16 -$95K -19 -0.0%
59 ZTS 0.27% 11,423 $2M $146.32 -$252K -911 -7.4%
60 NEE 0.26% 21,833 $2M $75.49 $28K -1,505 -6.5%
61 DFAT 0.26% 28,257 $2M $58.21 $120K
62 PFE 0.26% 63,994 $2M $25.48 $304K +9,278 +17.0%
63 AMAT 0.26% 7,821 $2M $204.74 $329K +873 +12.6%
64 ALLE 0.25% 8,972 $2M $177.35 $371K +507 +6.0%
65 BRK-A 0.24% 2 $2M $754,200.00 $51K
66 COP 0.24% 15,871 $2M $94.59 $17K -670 -4.0%
67 IVV 0.24% 2,238 $1M $669.34 $287K +288 +14.8%
68 LMT 0.23% 2,875 $1M $499.21 $299K +421 +17.2%
69 RMD 0.23% 5,196 $1M $273.73 $172K +349 +7.2%
70 WMT 0.22% 13,380 $1M $103.06 $202K +1,345 +11.2%
71 MSI 0.21% 2,835 $1M $457.29 $192K +208 +7.9%
72 PG 0.20% 8,269 $1M $153.65 $206K +1,588 +23.8%
73 KLAC 0.20% 1,161 $1M $1,078.19 $317K +117 +11.2%
74 ASML 0.19% 1,246 $1M $968.09 $202K -7 -0.6%
75 APD 0.18% 4,197 $1M $272.72 -$17K +77 +1.9%
76 MA 0.18% 1,998 $1M $568.95 $267K +451 +29.1%
77 OSK 0.18% 8,619 $1M $129.70 $144K +39 +0.5%
78 IWB 0.17% 2,953 $1M $365.44 +2,953 NEW
79 MRK 0.17% 12,787 $1M $83.93 $117K +702 +5.8%
80 DECK 0.17% 10,406 $1M $101.37 $84K +991 +10.5%
81 ISRG 0.17% 2,338 $1M $447.23 -$142K +152 +7.0%
82 PHYS 0.16% 34,618 $1M $29.62 $138K -390 -1.1%
83 QCOM 0.16% 6,107 $1M $166.37 $194K +947 +18.4%
84 RTX 0.16% 6,040 $1M $167.33 $253K +852 +16.4%
85 NFLX 0.16% 824 $988K $1,199.53 $167K +211 +34.4%
86 DIA 0.16% 2,109 $978K $463.72 $51K +6 +0.3%
87 TT 0.15% 2,266 $956K $421.94 $71K +243 +12.0%
88 PEP 0.15% 6,716 $943K $140.43 $334K +2,102 +45.6%
89 USPH 0.15% 10,943 $930K $84.95 $21K -672 -5.8%
90 ACVA 0.15% 92,270 $914K $9.91 -$210K +22,969 +33.1%
91 TM 0.14% 4,731 $904K $191.09 -$577K -3,867 -45.0%
92 CSCO 0.14% 12,848 $879K $68.42 $612K +8,993 +233.3%
93 ITOT 0.13% 5,673 $826K $145.66 $37K -173 -3.0%
94 MCD 0.13% 2,703 $822K $303.92 $152K +413 +18.0%
95 TLT 0.13% 9,057 $809K $89.37 +9,057 NEW
96 UNH 0.13% 2,322 $802K $345.35 $263K +594 +34.4%
97 MU 0.13% 4,786 $801K $167.32 +4,786 NEW
98 MELI 0.12% 328 $767K $2,336.94 -$31K +23 +7.5%
99 AAAU 0.12% 20,020 $763K $38.12 $109K
100 QUAL 0.12% 3,886 $756K $194.50 $45K

New Positions

SymbolValue% Port
AVDV $8M 1.25%
IBIT $3M 0.44%
IWB $1M 0.17%
TLT $809K 0.13%
MU $801K 0.13%
T $672K 0.11%
GILD $618K 0.10%
BMY $565K 0.09%
ANET $562K 0.09%
VZ $506K 0.08%
DVN $453K 0.07%
GLD $400K 0.06%
MDT $391K 0.06%
ALKT $373K 0.06%
IEFA $369K 0.06%

Sold Out Positions

SymbolValue% Port
HMC —%
BBD —%
PWR —%
NUV —%
EEFT —%
CORP —%
MUNI —%
PDP —%
FNDA —%
MOAT —%
PPA —%
SPDW —%
VTI —%
VSS —%
VTV —%
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