TNA
True North Advisors Portfolio holdings
AUM
$1.05B
Turnover
25.41%
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
(+23%)
Cap. Flow
+$141M
Cap. Flow
% of AUM
18.24%
Top 10 Holdings %
Top 10 Hldgs %
46.43%
Holding
276
New
61
Increased
92
Reduced
86
Closed
26
Avg Time Held
2
years
Top 10 Avg Time Held
2.2
years
Top 20 Avg Time Held
1.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Morningstar Small-Cap ETF
VB
|
+$16.3M |
| 2 |
iShares Core MSCI International Developed Markets ETF
IDEV
|
+$15.9M |
| 3 |
Schwab US Broad Market ETF
SCHB
|
+$15.5M |
| 4 |
TCW Flexible Income ETF
FLXR
|
+$14.2M |
| 5 |
JPMorgan US Quality Factor ETF
JQUA
|
+$12.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares US Treasury Bond ETF
GOVT
|
+$8.45M |
| 2 |
CarMax
KMX
|
+$5.55M |
| 3 |
Lennox International
LII
|
+$4.71M |
| 4 |
iShares Russell 1000 Growth ETF
IWF
|
+$3.99M |
| 5 |
Broadcom
AVGO
|
+$3.54M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 33.48% |
| 2 | Technology | 21.56% |
| 3 | Industrials | 14.3% |
| 4 | Financials | 11% |
| 5 | Consumer Discretionary | 5.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Apple
AAPL
$5.01T
| $82M | 10.6% |
301,690
-3,119
| -1% | -$837K |
2019 Q4
24 quarters
|
|
|
2
Lennox International
LII
$12.1B
| $81.7M | 10.57% |
168,330
-9,397
| -5% | -$4.71M |
2023 Q1
11 quarters
|
|
3
Berkshire Hathaway Class B
BRK.B
$1.13T
| $39.6M | 5.12% |
78,793
-1,279
| -2% | -$636K |
2019 Q4
24 quarters
|
|
4
State Street SPDR S&P 500 ETF Trust
SPY
$813B
| $34.1M | 4.4% |
49,954
+11,319
| +29% | +$7.65M |
2025 Q1
3 quarters
|
|
5
Amazon
AMZN
$2.74T
| $31.9M | 4.13% |
138,372
-385
| -0.3% | -$88.1K |
2019 Q4
24 quarters
|
|
6
NVIDIA
NVDA
$5.34T
| $23.9M | 3.09% |
128,133
-111
| -0.1% | -$20.7K |
2021 Q2
18 quarters
|
|
7
Microsoft
MSFT
$3.96T
| $17.7M | 2.29% |
36,579
-3,829
| -9% | -$1.92M |
2019 Q4
24 quarters
|
|
|
8
Vanguard Morningstar Small-Cap ETF
VB
$76.8B
| $16.5M | 2.13% |
+63,812
| New | +$16.3M |
2025 Q4
0 quarters
|
|
|
9
iShares Core MSCI International Developed Markets ETF
IDEV
$32.8B
| $16.1M | 2.08% |
+195,417
| New | +$15.9M |
2025 Q4
0 quarters
|
|
|
10
Schwab US Broad Market ETF
SCHB
$44.7B
| $15.6M | 2.02% |
+595,340
| New | +$15.5M |
2025 Q4
0 quarters
|
|
11
Meta Platforms (Facebook)
META
$1.88T
| $15.1M | 1.96% |
22,941
-67
| -0.3% | -$44.7K |
2020 Q2
22 quarters
|
|
12
Bank of America
BAC
$359B
| $14.6M | 1.89% |
265,583
-1,003
| -0.4% | -$53K |
2020 Q2
22 quarters
|
|
|
13
TCW Flexible Income ETF
FLXR
$3.62B
| $14.2M | 1.83% |
+357,357
| New | +$14.2M |
2025 Q4
0 quarters
|
|
|
14
JPMorgan US Quality Factor ETF
JQUA
$9.18B
| $12.4M | 1.61% |
+196,616
| New | +$12.3M |
2025 Q4
0 quarters
|
|
15
Invesco S&P 500 Equal Weight ETF
RSP
$96.9B
| $11.6M | 1.5% |
+60,496
| New | +$11.5M |
2025 Q4
0 quarters
|
|
16
Vanguard FTSE Developed Markets ETF
VEA
$227B
| $10.9M | 1.41% |
+174,258
| New | +$10.7M |
2025 Q4
0 quarters
|
|
17
Janus Henderson Mortgage-Backed Securities ETF
JMBS
$6.3B
| $10.3M | 1.33% |
+225,335
| New | +$10.3M |
2025 Q4
0 quarters
|
|
18
Janus Henderson AAA CLO ETF
JAAA
$32.1B
| $9.17M | 1.19% |
+181,385
| New | +$9.18M |
2025 Q4
0 quarters
|
|
|
19
Broadcom
AVGO
$1.65T
| $9.11M | 1.18% |
26,335
-9,901
| -27% | -$3.54M |
2024 Q1
7 quarters
|
|
20
Avantis International Small Cap Value ETF
AVDV
$19.9B
| $8.95M | 1.16% |
95,253
+7,441
| +8% | +$675K |
2025 Q3
1 quarter
|
|
21
Costco
COST
$435B
| $8.75M | 1.13% |
10,151
+271
| +3% | +$246K |
2020 Q4
20 quarters
|
|
22
iShares Gold Trust
IAU
$60.8B
| $8.26M | 1.07% |
101,817
-2,059
| -2% | -$161K |
2024 Q2
6 quarters
|
|
23
ExxonMobil
XOM
$728B
| $7.61M | 0.98% |
63,242
-4,762
| -7% | -$552K |
2019 Q4
24 quarters
|
|
24
Vanguard Morningstar Total Stock Market ETF
VTI
$694B
| $7.12M | 0.92% |
+21,241
| New | +$7.07M |
2025 Q4
0 quarters
|
|
25
GE Aerospace
GE
$319B
| $6.63M | 0.86% |
21,511
-13
| -0.1% | -$3.92K |
2022 Q4
12 quarters
|
|
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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 Morningstar Small-Cap ETF: 63,812 shares worth $16.5M.
By sector, the portfolio is most concentrated in Miscellaneous at 33% of assets, up from 14% a quarter earlier, followed by Technology and Industrials.
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 Morningstar 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.