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TNA

True North Advisors Portfolio holdings

AUM $1.05B
1-Year Est. Return 22.99%
This Fund
S&P 500
This Quarter Est. Return
+1.11%
1 Year Est. Return
+22.99%
3 Year Est. Return
+86.85%
5 Year Est. Return
+121.39%
10 Year Est. Return
–
AUM
$774M
AUM Growth
+$144M
Cap. Flow
+$141M
Cap. Flow %
18.24%
Top 10 Hldgs %
46.43%
Holding
276
New
61
Increased
92
Reduced
86
Closed
26

Top Buys

Rank Stock Value
1
VB icon
Vanguard Small-Cap ETF
VB
+$16.3M
2
IDEV icon
iShares Core MSCI International Developed Markets ETF
IDEV
+$15.9M
3
SCHB icon
Schwab US Broad Market ETF
SCHB
+$15.5M
4
FLXR
TCW Flexible Income ETF
FLXR
+$14.2M
5
JQUA icon
JPMorgan US Quality Factor ETF
JQUA
+$12.3M

Top Sells

Rank Stock Value
1
GOVT icon
iShares US Treasury Bond ETF
GOVT
+$8.45M
2
KMX icon
CarMax
KMX
+$5.55M
3
LII icon
Lennox International
LII
+$4.71M
4
IWF icon
iShares Russell 1000 Growth ETF
IWF
+$3.99M
5
AVGO icon
Broadcom
AVGO
+$3.54M

Sector Composition

Rank Sector Weight
1 Technology 21.56%
2 Industrials 14.3%
3 Financials 11%
4 Consumer Discretionary 5.91%
5 Healthcare 3.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VO icon
126
Vanguard Mid-Cap ETF
VO
$106B
$797K 0.1%
+10,988
New +$799K
DFAX icon
127
Dimensional World ex US Core Equity 2 ETF
DFAX
$11.8B
$796K 0.1%
+24,314
New +$776K
DIA icon
128
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$45.3B
$771K 0.1%
1,605
-504
-24% -$238K
VSS icon
129
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.2B
$766K 0.1%
+5,343
New +$761K
VLO icon
130
Valero Energy
VLO
$89.8B
$733K 0.09%
4,504
+513
+13% +$86.9K
KO icon
131
Coca-Cola
KO
$354B
$727K 0.09%
10,394
-263
-2% -$18.3K
ADI icon
132
Analog Devices
ADI
$181B
$704K 0.09%
2,596
+16
+0.6% +$4.02K
TJX icon
133
TJX Companies
TJX
$170B
$695K 0.09%
4,521
-456
-9% -$67.4K
HCA icon
134
HCA Healthcare
HCA
$84.8B
$682K 0.09%
1,461
+211
+17% +$98K
IWM icon
135
iShares Russell 2000 ETF
IWM
$79.8B
$677K 0.09%
2,752
+64
+2% +$15.7K
MELI icon
136
Mercado Libre
MELI
$91.3B
$669K 0.09%
332
+4
+1% +$8.4K
LOW icon
137
Lowe's Companies
LOW
$116B
$667K 0.09%
2,766
-52
-2% -$12.5K
PM icon
138
Philip Morris
PM
$301B
$663K 0.09%
4,134
+384
+10% +$59.5K
EFA icon
139
iShares MSCI EAFE ETF
EFA
$76.4B
$659K 0.09%
+6,866
New +$651K
CRM icon
140
Salesforce
CRM
$134B
$656K 0.08%
2,475
-7,977
-76% -$1.98M
IWO icon
141
iShares Russell 2000 Growth ETF
IWO
$14.3B
$631K 0.08%
+1,954
New +$636K
AXP icon
142
American Express
AXP
$223B
$628K 0.08%
1,698
-33
-2% -$11.8K
TMO icon
143
Thermo Fisher Scientific
TMO
$211B
$615K 0.08%
1,061
+117
+12% +$66.2K
UNP icon
144
Union Pacific
UNP
$183B
$612K 0.08%
2,645
-116
-4% -$26.5K
BXMT icon
145
Blackstone Mortgage Trust
BXMT
$2.82B
$590K 0.08%
30,847
-218
-0.7% -$4.13K
AFL icon
146
Aflac
AFL
$63.9B
$589K 0.08%
5,340
+976
+22% +$108K
MCD icon
147
McDonald's
MCD
$188B
$581K 0.08%
1,900
-803
-30% -$246K
CSCO icon
148
Cisco
CSCO
$450B
$573K 0.07%
7,444
-5,404
-42% -$401K
GEHC icon
149
GE HealthCare
GEHC
$27.6B
$572K 0.07%
6,969
-18
-0.3% -$1.4K
SPMB icon
150
State Street SPDR Portfolio Mortgage Backed Bond ETF
SPMB
$6.96B
$553K 0.07%
+24,680
New +$555K
4 5
6
7 8

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True North Advisors's Q4 2025 Portfolio in Review

As of Q4 2025, True North Advisors held 276 positions worth $774M, up 23% from $630M the previous quarter. Its ten largest holdings account for 46% of the portfolio.

True North Advisors deployed $141M of net new capital in Q4 2025, opening 61 new positions and adding to 92 existing holdings. Its largest new stake was Vanguard Small-Cap ETF: 63,812 shares worth $16.5M.

By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 27% a quarter earlier, followed by Industrials and Financials.

On the sell side, the largest reduction was Lennox International, an estimated $4.71M trimmed.

  • True North Advisors's largest Q4 2025 buy was Vanguard Small-Cap ETF: 63,812 shares worth $16.5M.
  • True North Advisors added most to State Street SPDR S&P 500 ETF Trust in Q4 2025, an estimated $7.65M increase.
  • True North Advisors's biggest Q4 2025 reduction was Lennox International, cutting an estimated $4.71M.
  • True North Advisors fully exited iShares US Treasury Bond ETF in Q4 2025, selling an estimated $8.45M.
  • True North Advisors's ten largest holdings make up 46% of its $774M portfolio in Q4 2025.
  • True North Advisors opened 61 new positions and closed 26 in Q4 2025.
  • True North Advisors's portfolio value rose 23% quarter-over-quarter to $774M.

Based on True North Advisors's 13F filing for Q4 2025, filed 22 Jan 2026.