True North Advisors, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 12, 2024), True North Advisors, LLC reported 195 stock positions worth $362.3 million. Its top holding was Lennox International (LII) at 25.9% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 10.3%) and Apple (AAPL, 6.2%). Compared with Q4 2023, it opened 31 new positions, sold out of 25, added to 44 and reduced 102. The biggest buy was a new position in Nuveen Municipal Value (NUV) and the biggest sale an exit from Schwab Intermediate-Term US (SCHR).
- Most Recent 13F
- Q2 2026
- Location
- Dallas, TX
- CIK
- 0001634556
- Portfolio Value
- $362.3M (Q1 2024)
- SEC Filing
- 0001172661-24-001832 ↗ filed Apr 12, 2024
Holdings Value
Holdings 195 stocks · $362.3M
| LII Lennox International Inc. | 25.94% | 192,264 | $94.0M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 10.27% | 88,501 | $37.2M | Reduce -3.8% |
| AAPL Apple Inc. | 6.16% | 130,201 | $22.3M | Reduce -3.8% |
| MSFT Microsoft Corp. | 2.87% | 24,700 | $10.4M | Reduce -4.0% |
| GOOG Alphabet Inc. Class C | 1.66% | 39,584 | $6.0M | Reduce -29.2% |
| DOW Dow Inc. | 1.55% | 96,924 | $5.6M | Reduce -2.3% |
| IWF iShares Russell 1000 Growth | 1.45% | 15,610 | $5.3M | Reduce -6.7% |
| BA The Boeing Co. | 1.45% | 27,198 | $5.2M | Add +14.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.35% | 9,348 | $4.9M | Reduce -4.8% |
| GOOGL Alphabet Inc. Class A | 1.30% | 31,225 | $4.7M | Reduce -11.0% |
| COST Costco Wholesale Corp. | 1.23% | 6,071 | $4.4M | Add +2.9% |
| NUV Nuveen Municipal Value | 1.20% | 497,921 | $4.3M | New |
| DD Dupont DE Nemours Inc. | 1.15% | 54,346 | $4.2M | Reduce -20.1% |
| XOM Exxon Mobil Corp. | 1.05% | 32,728 | $3.8M | Reduce -1.5% |
| CTVA Corteva Inc. | 0.94% | 59,348 | $3.4M | No change |
| APO Apollo Global Management Inc. | 0.93% | 29,821 | $3.4M | Reduce -4.2% |
| LLY Eli Lilly & Co. | 0.93% | 4,309 | $3.4M | Add +0.4% |
| EPD Enterprise Products Partners | 0.89% | 110,068 | $3.2M | New |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.85% | 45,619 | $3.1M | Add +22.3% |
| VOO Vanguard S&P 500 ETF | 0.80% | 6,009 | $2.9M | New |
| MLM Martin Marietta Materials | 0.78% | 4,605 | $2.8M | Reduce -0.0% |
| AMZN Amazon.com Inc. | 0.78% | 15,639 | $2.8M | Reduce -14.5% |
| MKL Markel Group Inc. | 0.76% | 1,817 | $2.8M | New |
| KMX Carmax Inc. | 0.72% | 29,976 | $2.6M | Add +32.0% |
| ET Energy Transfer LP | 0.72% | 165,988 | $2.6M | New |
| BX Blackstone Inc. | 0.72% | 19,731 | $2.6M | Reduce -6.0% |
| CL Colgate-Palmolive Co. | 0.71% | 28,493 | $2.6M | Add +57.9% |
| WY Weyerhaeuser Co. | 0.67% | 67,986 | $2.4M | Reduce -0.0% |
| GE General Electric | 0.66% | 13,553 | $2.4M | Reduce -0.1% |
| FAST Fastenal Co. | 0.64% | 29,827 | $2.3M | Reduce -0.1% |
| SCHV Schwab US Large-Cap Value | 0.63% | 29,989 | $2.3M | Reduce -17.7% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.61% | 61,887 | $2.2M | Reduce -18.1% |
| CAT Caterpillar Inc. | 0.56% | 5,495 | $2.0M | Reduce -0.0% |
| TXN Texas Instruments Inc. | 0.49% | 10,249 | $1.8M | Reduce -1.4% |
| SCHG Schwab US Large-Cap Growth | 0.47% | 18,383 | $1.7M | Reduce -23.5% |
| AVGO Broadcom Inc. | 0.47% | 1,272 | $1.7M | New |
| NVDA Nvidia Corp. | 0.46% | 1,847 | $1.7M | Add +33.1% |
| CVX Chevron Corp. | 0.44% | 10,136 | $1.6M | Reduce -5.1% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.43% | 43,969 | $1.6M | Reduce -33.1% |
| PFE Pfizer Inc. | 0.41% | 52,873 | $1.5M | Reduce -2.1% |
| MRK Merck & Co. Inc. | 0.40% | 10,894 | $1.4M | Reduce -0.2% |
| IWD iShares Russell 1000 Value E | 0.40% | 8,013 | $1.4M | Reduce -0.5% |
| V Visa Inc. Class A | 0.39% | 4,999 | $1.4M | Reduce -6.2% |
| JNJ Johnson & Johnson | 0.37% | 8,570 | $1.4M | Reduce -44.8% |
| FNDA Schwab Fndmntl US SM Co. ETF | 0.37% | 23,603 | $1.3M | Reduce -6.3% |
| WMT Walmart Inc. | 0.35% | 21,330 | $1.3M | Reduce -24.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.35% | 2 | $1.3M | New |
| JPM JPMorgan Chase & Co. | 0.35% | 6,332 | $1.3M | Add +3.1% |
| CBRE CBRE Group Inc. Class A | 0.35% | 12,991 | $1.3M | Add +20.7% |
| COP Conocophillips | 0.35% | 9,902 | $1.3M | Reduce -29.5% |
| META Meta Platforms Inc. Class A | 0.34% | 2,560 | $1.2M | Add +12.9% |
| VMBS Vanguard Mortgage-Backed Sec | 0.34% | 27,047 | $1.2M | Add +207.3% |
| FISV Fiserv Inc. | 0.33% | 7,563 | $1.2M | Add +0.1% |
| ABBV Abbvie Inc. | 0.33% | 6,629 | $1.2M | Add +1.8% |
| SCHZ Schwab US Aggregate Bond ETF | 0.32% | 25,456 | $1.2M | Add +62.9% |
| PSX Phillips 66 | 0.31% | 6,943 | $1.1M | Reduce -13.7% |
| ACVA Acv Auctions Inc. Class A | 0.31% | 59,692 | $1.1M | Reduce -12.4% |
| PAGP Plains GP Holdings LP | 0.30% | 60,034 | $1.1M | New |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.30% | 4,517 | $1.1M | Add +121.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.30% | 2,421 | $1.1M | Reduce -0.3% |
| ACN Accenture PLC Class A | 0.29% | 3,064 | $1.1M | New |
| APD Air Products & Chemicals Inc. | 0.29% | 4,335 | $1.1M | Reduce -11.4% |
| OKE Oneok Inc. | 0.29% | 12,985 | $1.0M | Add +37.3% |
| IWO iShares Russell 2000 Growth | 0.29% | 3,832 | $1.0M | Reduce -12.4% |
| ETRN Equitrans Midstream Corp. | 0.28% | 82,347 | $1.0M | Add +2.9% |
| CVE Cenovus Energy Inc. | 0.28% | 50,700 | $1.0M | Reduce -10.6% |
| WES Western Midstream Partners L | 0.28% | 28,457 | $1.0M | New |
| AMD Advanced Micro Devices | 0.28% | 5,530 | $998K | Reduce -12.4% |
| PG The Procter & Gamble Co. | 0.27% | 6,060 | $983K | Reduce -0.8% |
| HD Home Depot Inc. | 0.27% | 2,539 | $974K | Reduce -14.2% |
| PBA Pembina Pipeline Corp. | 0.27% | 27,200 | $961K | Reduce -3.2% |
| WYNN WYNN Resorts Ltd. | 0.25% | 9,000 | $920K | No change |
| ABT Abbott Laboratories | 0.25% | 8,023 | $912K | Reduce -45.6% |
| WMB Williams Cos Inc. | 0.25% | 23,385 | $911K | New |
| SU Suncor Energy Inc. | 0.25% | 24,666 | $910K | Add +11.3% |
| TRGP Targa Resources Corp. | 0.25% | 7,997 | $896K | No change |
| FNDC Schwab Fndmnt Intl SM Eq ETF | 0.25% | 25,036 | $888K | Add +36.0% |
| KO The Coca-Cola Co. | 0.24% | 14,262 | $873K | Add +8.3% |
| VLO Valero Energy Corp. | 0.23% | 4,919 | $840K | Reduce -12.6% |
| QCOM Qualcomm Inc. | 0.23% | 4,848 | $821K | Reduce -4.2% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.23% | 2,062 | $820K | Add +0.4% |
| PXD Pioneer Natural Resources Co. | 0.23% | 3,109 | $816K | Add +19.4% |
| PEP Pepsico Inc. | 0.22% | 4,515 | $790K | Reduce -1.3% |
| TSLA Tesla Inc. | 0.21% | 4,365 | $767K | Reduce -0.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.21% | 2,938 | $764K | Reduce -36.3% |
| LNG Cheniere Energy Inc. | 0.21% | 4,693 | $757K | Add +9.7% |
| ORCL Oracle Corp. | 0.21% | 5,965 | $749K | Add +5.3% |
| VNOM Viper Energy Inc. | 0.20% | 18,760 | $722K | New |
| SCHX Schwab US Large-Cap ETF | 0.19% | 10,967 | $681K | Reduce -25.2% |
| MA Mastercard Inc. Class A | 0.18% | 1,391 | $670K | Reduce -8.2% |
| HON Honeywell International Inc. | 0.18% | 3,218 | $660K | Add +4.9% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.18% | 5,120 | $657K | No change |
| ADBE Adobe Inc. | 0.18% | 1,288 | $650K | Reduce -2.2% |
| KMI Kinder Morgan Inc. | 0.18% | 35,403 | $649K | Reduce -23.3% |
| UNH Unitedhealth Group Inc. | 0.17% | 1,264 | $625K | Add +8.8% |
| TT Trane Technologies PLC | 0.17% | 2,053 | $616K | Add +1.6% |
| MPC Marathon Petroleum Corp. | 0.17% | 3,021 | $609K | Reduce -17.3% |
| BKNG Booking Holdings Inc. | 0.17% | 167 | $606K | New |
| ITOT iShares Core S&P Total U.S. | 0.16% | 5,134 | $592K | Reduce -0.1% |
| IXUS iShares Core Intl Stock ETF | 0.16% | 8,675 | $589K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $16K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BRZHW Breeze Holdings Acquis -CW27 | *W EXP 05/25/202 | 12,381 | $16K | New |
Total filed on the 13F, all lines: $362.3M.
Portfolio Sells Q4 2023 → Q1 2024
| SCHR Schwab Intermediate-Term US | Sold out | 0.00% | −6.88 |
| TOTL SS Doubleline TR Tact ETF | Sold out | 0.00% | −5.67 |
| SPMB SS SPDR P Mort Back Bond ETF | Reduce -95.2% | 0.09% | −1.77 |
| PCH Potlatchdeltic Corp. | Sold out | 0.00% | −0.79 |
| GVI iShares Intermediate Governm | Sold out | 0.00% | −0.54 |
| CUBE Cubesmart | Sold out | 0.00% | −0.54 |
| AAPL Apple Inc. | Reduce -3.8% | 6.16% | −0.53 |
| GOOG Alphabet Inc. Class C | Reduce -29.2% | 1.66% | −0.36 |
| SGOL Abrdn Physical Gold Shares | Sold out | 0.00% | −0.33 |
| JNJ Johnson & Johnson | Reduce -44.8% | 0.37% | −0.25 |
| DEO Diageo PLC-Sponsored ADR | Sold out | 0.00% | −0.21 |
| DD Dupont DE Nemours Inc. | Reduce -20.1% | 1.15% | −0.19 |
| ABT Abbott Laboratories | Reduce -45.6% | 0.25% | −0.17 |
| IAU iShares Gold Trust | Sold out | 0.00% | −0.15 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -33.1% | 0.43% | −0.14 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −0.13 |
| DIS The Walt Disney Co. | Reduce -69.2% | 0.10% | −0.12 |
| SLB SLB Ltd. | Reduce -55.4% | 0.12% | −0.12 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.09 |
| PHYS Sprott Physical Gold Trust | Sold out | 0.00% | −0.08 |
| XBI SS SPDR S&P Biotech ETF | Sold out | 0.00% | −0.08 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.07 |
| COP Conocophillips | Reduce -29.5% | 0.35% | −0.07 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -36.3% | 0.21% | −0.07 |
| SSB Southstate Bank Corp. | Sold out | 0.00% | −0.07 |
| TSLA Tesla Inc. | Reduce -0.2% | 0.21% | −0.07 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.07 |
| VTEB Vanguard Tax-Exempt Bond ETF | Sold out | 0.00% | −0.07 |
| SCZ iShares MSCI Eafe Small-Cap | Sold out | 0.00% | −0.06 |
| IQLT iShares MSCI International Q | Sold out | 0.00% | −0.06 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.06 |
| ACWV iShares MSCI Global Min Vol | Sold out | 0.00% | −0.06 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.06 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.05 |
| APD Air Products & Chemicals Inc. | Reduce -11.4% | 0.29% | −0.05 |
| SPYG SS SPDR P S&P 500 Growth ETF | Sold out | 0.00% | −0.05 |
| VTR Ventas Inc. | Sold out | 0.00% | −0.05 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -18.1% | 0.61% | −0.05 |
| LMT Lockheed Martin Corp. | Reduce -35.7% | 0.10% | −0.04 |
| VWO Vanguard Ftse Emerging Marke | Reduce -42.3% | 0.07% | −0.04 |
| SCHG Schwab US Large-Cap Growth | Reduce -23.5% | 0.47% | −0.04 |
| VIG Vanguard Dividend Apprec ETF | Reduce -44.0% | 0.06% | −0.03 |
| KMI Kinder Morgan Inc. | Reduce -23.3% | 0.18% | −0.03 |
| MELI MercadoLibre Inc. | Reduce -22.7% | 0.12% | −0.03 |
| SCHV Schwab US Large-Cap Value | Reduce -17.7% | 0.63% | −0.03 |
| WMT Walmart Inc. | Reduce -24.1% | 0.35% | −0.03 |
| SCHX Schwab US Large-Cap ETF | Reduce -25.2% | 0.19% | −0.02 |
| ADBE Adobe Inc. | Reduce -2.2% | 0.18% | −0.02 |
| VYMI Vanguard Int High DVD YLD Inc. | Reduce -34.3% | 0.06% | −0.02 |
| IWN iShares Russell 2000 Value E | Reduce -17.9% | 0.16% | −0.02 |
Portfolio Buys Q4 2023 → Q1 2024
| NUV Nuveen Municipal Value | New | 1.20% | +1.20 |
| EPD Enterprise Products Partners | New | 0.89% | +0.89 |
| VOO Vanguard S&P 500 ETF | New | 0.80% | +0.80 |
| MKL Markel Group Inc. | New | 0.76% | +0.76 |
| ET Energy Transfer LP | New | 0.72% | +0.72 |
| AVGO Broadcom Inc. | New | 0.47% | +0.47 |
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.35% | +0.35 |
| CL Colgate-Palmolive Co. | Add +57.9% | 0.71% | +0.34 |
| PAGP Plains GP Holdings LP | New | 0.30% | +0.30 |
| ACN Accenture PLC Class A | New | 0.29% | +0.29 |
| NVDA Nvidia Corp. | Add +33.1% | 0.46% | +0.28 |
| LLY Eli Lilly & Co. | Add +0.4% | 0.93% | +0.28 |
| WES Western Midstream Partners L | New | 0.28% | +0.28 |
| KMX Carmax Inc. | Add +32.0% | 0.72% | +0.27 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +22.3% | 0.85% | +0.26 |
| WMB Williams Cos Inc. | New | 0.25% | +0.25 |
| VMBS Vanguard Mortgage-Backed Sec | Add +207.3% | 0.34% | +0.24 |
| COST Costco Wholesale Corp. | Add +2.9% | 1.23% | +0.23 |
| VNOM Viper Energy Inc. | New | 0.20% | +0.20 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +121.1% | 0.30% | +0.18 |
| BKNG Booking Holdings Inc. | New | 0.17% | +0.17 |
| META Meta Platforms Inc. Class A | Add +12.9% | 0.34% | +0.14 |
| SCHZ Schwab US Aggregate Bond ETF | Add +62.9% | 0.32% | +0.14 |
| BXMT Blackstone Mortgage Tru Class A | New | 0.12% | +0.12 |
| OKE Oneok Inc. | Add +37.3% | 0.29% | +0.12 |
| MPLX MPLX LP | New | 0.10% | +0.10 |
| MUB iShares National Muni Bond E | New | 0.09% | +0.09 |
| CBRE CBRE Group Inc. Class A | Add +20.7% | 0.35% | +0.09 |
| ARLP Alliance Resource Partners | New | 0.09% | +0.09 |
| CCI Crown Castle Inc. | New | 0.09% | +0.09 |
| VFH Vanguard Financials ETF | New | 0.08% | +0.08 |
| JPM JPMorgan Chase & Co. | Add +3.1% | 0.35% | +0.08 |
| FNDC Schwab Fndmnt Intl SM Eq ETF | Add +36.0% | 0.25% | +0.08 |
| EQIX Equinix Inc. | New | 0.08% | +0.08 |
| FISV Fiserv Inc. | Add +0.1% | 0.33% | +0.08 |
| PXD Pioneer Natural Resources Co. | Add +19.4% | 0.23% | +0.07 |
| ETRN Equitrans Midstream Corp. | Add +2.9% | 0.28% | +0.07 |
| ABBV Abbvie Inc. | Add +1.8% | 0.33% | +0.07 |
| GDX Vaneck Gold Miners ETF | New | 0.07% | +0.07 |
| SU Suncor Energy Inc. | Add +11.3% | 0.25% | +0.07 |
| AMAT Applied Materials Inc. | New | 0.07% | +0.07 |
| PDX PIMCO Dynamic Income Strat | New | 0.06% | +0.06 |
| LIN Linde PLC | New | 0.06% | +0.06 |
| EEM iShares MSCI Emerging Market | New | 0.06% | +0.06 |
| SPMD SS SPDR P S&P 400 Midcap ETF | New | 0.06% | +0.06 |
| SPGI S&P Global Inc. | New | 0.06% | +0.06 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | New | 0.06% | +0.06 |
| HFRO Highland Opport & Income | New | 0.06% | +0.06 |
| ORCL Oracle Corp. | Add +5.3% | 0.21% | +0.05 |
| TT Trane Technologies PLC | Add +1.6% | 0.17% | +0.04 |
Notes & Other Activity Q4 2023 → Q1 2024
| BRZHW Breeze Holdings Acquis -CW27 | *W EXP 05/25/202 | New | 12,381 | $16K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 290 | $1.0B | LII, AAPL, FNDX, AVDS, GOOGL |
| Q1 2026 | 244 | $877.1M | LII, AAPL, FNDX, SPY, AVDS |
| Q4 2025 | 249 | $773.3M | AAPL, LII, BRK.B, SPY, AMZN |
| Q3 2025 | 214 | $629.5M | LII, AAPL, BRK.B, AMZN, SPY |
| Q2 2025 | 222 | $521.8M | LII, BRK.B, AAPL, VB, MSFT |
| Q1 2025 | 243 | $564.1M | LII, BRK.B, AAPL, VB, JMBS |
| Q4 2024 | 185 | $424.2M | LII, BRK.B, AAPL, MSFT, COST |
| Q3 2024 | 185 | $382.2M | LII, BRK.B, AAPL, MSFT, GOOG |
| Q2 2024 | 198 | $374.3M | LII, BRK.B, AAPL, MSFT, GOOG |
| Q1 2024 | 195 | $362.3M | LII, BRK.B, AAPL, MSFT, GOOG |