True North Advisors, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 17, 2025), True North Advisors, LLC reported 185 stock positions worth $424.2 million. Its top holding was Lennox International (LII) at 26.6% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 9.3%) and Apple (AAPL, 6.3%). Compared with Q3 2024, it opened 50 new positions, sold out of 50, added to 88 and reduced 19. The biggest buy was Broadcom (AVGO, shares +143%) and the biggest sale an exit from Alphabet Class C (GOOG).
- Most Recent 13F
- Q2 2026
- Location
- Dallas, TX
- CIK
- 0001634556
- Portfolio Value
- $424.2M (Q4 2024)
- SEC Filing
- 0001172661-25-000248 ↗ filed Jan 17, 2025
Holdings Value
Holdings 185 stocks · $424.2M
| LII Lennox International Inc. | 26.58% | 185,081 | $112.8M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 9.30% | 86,992 | $39.4M | Add +1.9% |
| AAPL Apple Inc. | 6.27% | 106,259 | $26.6M | Add +5.9% |
| MSFT Microsoft Corp. | 3.14% | 31,646 | $13.3M | Add +38.1% |
| COST Costco Wholesale Corp. | 2.19% | 10,119 | $9.3M | Add +62.4% |
| AVGO Broadcom Inc. | 1.78% | 32,626 | $7.6M | Add +143.2% |
| AMZN Amazon.com Inc. | 1.71% | 32,967 | $7.2M | Add +138.2% |
| V Visa Inc. Class A | 1.31% | 17,576 | $5.6M | Add +261.4% |
| JPM JPMorgan Chase & Co. | 1.30% | 23,003 | $5.5M | Add +239.8% |
| XOM Exxon Mobil Corp. | 1.30% | 51,135 | $5.5M | Add +32.4% |
| FAST Fastenal Co. | 1.29% | 76,125 | $5.5M | Add +129.3% |
| CRM Salesforce Inc. | 1.10% | 13,949 | $4.7M | Add +673.7% |
| ABBV Abbvie Inc. | 1.09% | 26,055 | $4.6M | Add +373.6% |
| TPL Texas Pacific Land Corp. | 1.06% | 4,069 | $4.5M | Reduce -7.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.05% | 101,735 | $4.5M | Add +405.3% |
| GE General Electric filed as GE AEROSPACE | 0.97% | 24,549 | $4.1M | Reduce -5.5% |
| HD Home Depot Inc. | 0.95% | 10,370 | $4.0M | Add +375.5% |
| KMX Carmax Inc. | 0.94% | 48,662 | $4.0M | Add +0.5% |
| DOW Dow Inc. | 0.92% | 96,986 | $3.9M | Add +0.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.92% | 13,397 | $3.9M | Add +341.6% |
| MS Morgan Stanley | 0.85% | 28,595 | $3.6M | Add +1025.8% |
| SYK Stryker Corp. | 0.85% | 9,984 | $3.6M | New |
| CTVA Corteva Inc. | 0.81% | 60,453 | $3.4M | No change |
| APH Amphenol Corp. Class A | 0.80% | 49,161 | $3.4M | New |
| ABT Abbott Laboratories | 0.77% | 29,062 | $3.3M | Add +265.7% |
| SHW The Sherwin-Williams Co. | 0.77% | 9,668 | $3.3M | New |
| DHI D.R. Horton Inc. | 0.76% | 23,092 | $3.2M | New |
| PAYX Paychex Inc. | 0.76% | 22,989 | $3.2M | New |
| NVDA Nvidia Corp. | 0.76% | 23,964 | $3.2M | Add +7.0% |
| DD Dupont DE Nemours Inc. | 0.74% | 41,277 | $3.1M | Add +1.0% |
| KR Kroger Co. | 0.74% | 51,217 | $3.1M | New |
| ALL Allstate Corp. | 0.73% | 16,022 | $3.1M | New |
| TSCO Tractor Supply Company | 0.72% | 57,681 | $3.1M | New |
| ZTS Zoetis Inc. | 0.72% | 18,713 | $3.0M | New |
| NEE Nextera Energy Inc. | 0.71% | 42,060 | $3.0M | New |
| LLY Eli Lilly & Co. | 0.63% | 3,483 | $2.7M | Add +8.0% |
| MLM Martin Marietta Materials | 0.58% | 4,741 | $2.4M | No change |
| COP Conocophillips | 0.57% | 24,178 | $2.4M | New |
| SGOL Abrdn Physical Gold Shares | 0.54% | 91,932 | $2.3M | Add +0.6% |
| TLH iShares 10-20 Year Treasury | 0.53% | 22,437 | $2.2M | New |
| TXN Texas Instruments Inc. | 0.52% | 11,835 | $2.2M | Add +13.8% |
| SBAC SBA Communications Corp. | 0.49% | 10,159 | $2.1M | Add +1112.3% |
| CAT Caterpillar Inc. | 0.47% | 5,455 | $2.0M | No change |
| GEV GE Vernova Inc. | 0.46% | 5,925 | $1.9M | Reduce -5.8% |
| CVX Chevron Corp. | 0.41% | 12,146 | $1.8M | Add +62.2% |
| ELV Elevance Health Inc. | 0.40% | 4,654 | $1.7M | New |
| DFAT Dimensional US Target Value | 0.37% | 28,257 | $1.6M | New |
| FISV Fiserv Inc. | 0.37% | 7,634 | $1.6M | Add +1.0% |
| IWD iShares Russell 1000 Value E | 0.35% | 8,013 | $1.5M | No change |
| JEPI JPMorgan Equity Premium Inco | 0.34% | 25,353 | $1.5M | New |
| TSLA Tesla Inc. | 0.33% | 3,468 | $1.4M | Add +3.8% |
| PFE Pfizer Inc. | 0.33% | 52,588 | $1.4M | Add +1.3% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.33% | 40,758 | $1.4M | No change |
| META Meta Platforms Inc. Class A | 0.32% | 2,329 | $1.4M | Add +8.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.32% | 2,661 | $1.4M | Add +11.2% |
| JNJ Johnson & Johnson | 0.31% | 9,046 | $1.3M | Add +2.9% |
| TOTL SS Doubleline TR Tact ETF | 0.30% | 32,831 | $1.3M | Add +89.9% |
| APD Air Products & Chemicals Inc. | 0.30% | 4,401 | $1.3M | Add +5.3% |
| VMBS Vanguard Mortgage-Backed Sec | 0.29% | 27,277 | $1.2M | Reduce -3.3% |
| MRK Merck & Co. Inc. | 0.29% | 12,428 | $1.2M | Add +15.7% |
| ACVA Acv Auctions Inc. Class A | 0.26% | 51,257 | $1.1M | Reduce -14.1% |
| IWO iShares Russell 2000 Growth | 0.26% | 3,802 | $1.1M | No change |
| WMT Walmart Inc. | 0.25% | 11,929 | $1.1M | Add +11.4% |
| PG The Procter & Gamble Co. | 0.25% | 6,282 | $1.1M | Reduce -1.2% |
| ORCL Oracle Corp. | 0.24% | 6,027 | $1.0M | Add +7.2% |
| TM Toyota Motor Corp. -Spon ADR | 0.23% | 4,914 | $956K | Add +17.0% |
| AMD Advanced Micro Devices | 0.22% | 7,863 | $950K | Add +46.0% |
| DFGR Dim Global Real Estate ETF | 0.21% | 35,696 | $912K | New |
| ISRG Intuitive Surgical Inc. | 0.21% | 1,744 | $910K | Add +41.6% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.21% | 2,096 | $892K | Add +0.8% |
| UNH Unitedhealth Group Inc. | 0.21% | 1,760 | $890K | Add +54.7% |
| TT Trane Technologies PLC | 0.20% | 2,288 | $845K | Add +13.7% |
| QCOM Qualcomm Inc. | 0.19% | 5,238 | $805K | Add +9.1% |
| USPH U.S. Physical Therapy Inc. | 0.18% | 8,756 | $777K | Add +11.9% |
| PEP Pepsico Inc. | 0.18% | 5,083 | $773K | Add +8.1% |
| ITOT iShares Core S&P Total U.S. | 0.17% | 5,772 | $742K | Add +3.4% |
| HON Honeywell International Inc. | 0.17% | 3,279 | $741K | Add +14.4% |
| NTAP Netapp Inc. | 0.17% | 6,267 | $727K | New |
| PHYS Sprott Physical Gold Trust | 0.17% | 35,817 | $721K | No change |
| ADBE Adobe Inc. | 0.17% | 1,591 | $708K | Add +30.0% |
| MA Mastercard Inc. Class A | 0.17% | 1,338 | $705K | Add +4.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.16% | 969 | $672K | Add +219.8% |
| VEA Vanguard Ftse Developed ETF | 0.15% | 13,253 | $634K | Add +85.5% |
| CL Colgate-Palmolive Co. | 0.15% | 6,882 | $626K | Reduce -1.2% |
| VSS Vanguard Ftse All Wo X-US SC | 0.15% | 5,402 | $618K | New |
| VXUS Vanguard Total Intl Stock | 0.14% | 10,028 | $591K | New |
| LOW Lowe's Cos Inc. | 0.14% | 2,349 | $580K | Add +90.5% |
| UNP Union Pacific Corp. | 0.14% | 2,536 | $578K | Add +106.5% |
| IXUS iShares Core Intl Stock ETF | 0.14% | 8,675 | $574K | No change |
| IWN iShares Russell 2000 Value E | 0.13% | 3,472 | $570K | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.13% | 2,106 | $556K | Add +158.7% |
| PANW Palo Alto Networks Inc. | 0.13% | 3,042 | $554K | Add +8.2% |
| KO The Coca-Cola Co. | 0.13% | 8,572 | $534K | Add +10.0% |
| QUAL iShares MSCI USA Quality Fac | 0.12% | 2,975 | $530K | New |
| GEHC GE Healthcare Technology | 0.12% | 6,773 | $530K | Reduce -1.2% |
| IAU iShares Gold Trust | 0.12% | 10,650 | $527K | No change |
| RTX RTX Corp. | 0.12% | 4,365 | $505K | Add +18.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.12% | 4,074 | $492K | Add +79.4% |
| MELI MercadoLibre Inc. | 0.11% | 285 | $485K | Add +0.7% |
| SNPS Synopsys Inc. | 0.11% | 972 | $472K | Add +94.4% |
Portfolio Sells Q3 2024 → Q4 2024
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −1.71 |
| IWF iShares Russell 1000 Growth | Sold out | 0.00% | −1.40 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −1.34 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −1.32 |
| NUV Nuveen Municipal Value | Sold out | 0.00% | −1.21 |
| BA The Boeing Co. | Sold out | 0.00% | −1.08 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −0.95 |
| MKL Markel Group Inc. | Sold out | 0.00% | −0.90 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Sold out | 0.00% | −0.83 |
| VOO Vanguard S&P 500 ETF | Sold out | 0.00% | −0.76 |
| BX Blackstone Inc. | Sold out | 0.00% | −0.68 |
| EPD Enterprise Products Partners | Sold out | 0.00% | −0.60 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Sold out | 0.00% | −0.59 |
| SCHV Schwab US Large-Cap Value | Sold out | 0.00% | −0.56 |
| CBRE CBRE Group Inc. Class A | Sold out | 0.00% | −0.42 |
| ET Energy Transfer LP | Sold out | 0.00% | −0.41 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −0.39 |
| SCHG Schwab US Large-Cap Growth | Sold out | 0.00% | −0.38 |
| BRK.A Berkshire Hathaway Inc. Class A | Sold out | 0.00% | −0.36 |
| FNDA Schwab Fndmntl US SM Co. ETF | Sold out | 0.00% | −0.34 |
| GE General Electric | Reduce -5.5% | 0.97% | −0.32 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Sold out | 0.00% | −0.30 |
| SCHZ Schwab US Aggregate Bond ETF | Sold out | 0.00% | −0.30 |
| ACN Accenture PLC Class A | Sold out | 0.00% | −0.29 |
| FNDC Schwab Fndmnt Intl SM Eq ETF | Sold out | 0.00% | −0.24 |
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −0.18 |
| WYNN WYNN Resorts Ltd. | Sold out | 0.00% | −0.18 |
| SCHX Schwab US Large-Cap ETF | Sold out | 0.00% | −0.17 |
| VB Vanguard Most SM-Cap ETF-Usd | Sold out | 0.00% | −0.15 |
| BLK BlackRock Finance Inc. | Sold out | 0.00% | −0.12 |
| IVV iShares Core S&P 500 ETF | Sold out | 0.00% | −0.11 |
| EQIX Equinix Inc. | Sold out | 0.00% | −0.11 |
| MPLX MPLX LP | Sold out | 0.00% | −0.10 |
| CVNA Carvana Co. | Sold out | 0.00% | −0.10 |
| FBTC Fidelity Wise Origin Bitcoin | Sold out | 0.00% | −0.09 |
| SCHF Schwab Intl Equity ETF | Sold out | 0.00% | −0.08 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Sold out | 0.00% | −0.08 |
| LIN Linde PLC | Sold out | 0.00% | −0.08 |
| FLTR Vaneck Ig Floating Rate ETF | Sold out | 0.00% | −0.08 |
| AMT American Tower Corp. | Sold out | 0.00% | −0.07 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −0.07 |
| SPGI S&P Global Inc. | Sold out | 0.00% | −0.07 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.07 |
| RIVN Rivian Automotive Inc. Class A | Sold out | 0.00% | −0.07 |
| PDX PIMCO Dynamic Income Strat | Sold out | 0.00% | −0.06 |
| IWB iShares Russell 1000 ETF | Sold out | 0.00% | −0.06 |
| PSX Phillips 66 | Sold out | 0.00% | −0.06 |
| VMBS Vanguard Mortgage-Backed Sec | Reduce -3.3% | 0.29% | −0.06 |
| ACVA Acv Auctions Inc. Class A | Reduce -14.1% | 0.26% | −0.06 |
| EXPE Expedia Group Inc. | Sold out | 0.00% | −0.06 |
Portfolio Buys Q3 2024 → Q4 2024
| AVGO Broadcom Inc. | Add +143.2% | 1.78% | +1.18 |
| AMZN Amazon.com Inc. | Add +138.2% | 1.71% | +1.03 |
| CRM Salesforce Inc. | Add +673.7% | 1.10% | +0.97 |
| V Visa Inc. Class A | Add +261.4% | 1.31% | +0.96 |
| JPM JPMorgan Chase & Co. | Add +239.8% | 1.30% | +0.93 |
| SYK Stryker Corp. | New | 0.85% | +0.85 |
| BAC Bank of America Corp. | Add +405.3% | 1.05% | +0.84 |
| ABBV Abbvie Inc. | Add +373.6% | 1.09% | +0.81 |
| APH Amphenol Corp. Class A | New | 0.80% | +0.80 |
| MS Morgan Stanley | Add +1025.8% | 0.85% | +0.78 |
| SHW The Sherwin-Williams Co. | New | 0.77% | +0.77 |
| DHI D.R. Horton Inc. | New | 0.76% | +0.76 |
| PAYX Paychex Inc. | New | 0.76% | +0.76 |
| COST Costco Wholesale Corp. | Add +62.4% | 2.19% | +0.74 |
| KR Kroger Co. | New | 0.74% | +0.74 |
| ALL Allstate Corp. | New | 0.73% | +0.73 |
| TSCO Tractor Supply Company | New | 0.72% | +0.72 |
| HD Home Depot Inc. | Add +375.5% | 0.95% | +0.72 |
| ZTS Zoetis Inc. | New | 0.72% | +0.72 |
| NEE Nextera Energy Inc. | New | 0.71% | +0.71 |
| VTI VG Morningstar TS MKT ETF-US | Add +341.6% | 0.92% | +0.69 |
| FAST Fastenal Co. | Add +129.3% | 1.29% | +0.67 |
| COP Conocophillips | New | 0.57% | +0.57 |
| MSFT Microsoft Corp. | Add +38.1% | 3.14% | +0.57 |
| ABT Abbott Laboratories | Add +265.7% | 0.77% | +0.54 |
| TLH iShares 10-20 Year Treasury | New | 0.53% | +0.53 |
| SBAC SBA Communications Corp. | Add +1112.3% | 0.49% | +0.44 |
| ELV Elevance Health Inc. | New | 0.40% | +0.40 |
| DFAT Dimensional US Target Value | New | 0.37% | +0.37 |
| JEPI JPMorgan Equity Premium Inco | New | 0.34% | +0.34 |
| DFGR Dim Global Real Estate ETF | New | 0.21% | +0.21 |
| NTAP Netapp Inc. | New | 0.17% | +0.17 |
| AAPL Apple Inc. | Add +5.9% | 6.27% | +0.16 |
| VSS Vanguard Ftse All Wo X-US SC | New | 0.15% | +0.15 |
| VXUS Vanguard Total Intl Stock | New | 0.14% | +0.14 |
| CVX Chevron Corp. | Add +62.2% | 0.41% | +0.13 |
| QUAL iShares MSCI USA Quality Fac | New | 0.12% | +0.12 |
| TOTL SS Doubleline TR Tact ETF | Add +89.9% | 0.30% | +0.12 |
| XOM Exxon Mobil Corp. | Add +32.4% | 1.30% | +0.11 |
| VCIT Vanguard Int-Term Corporate | New | 0.11% | +0.11 |
| SPEM State Street SP PTF Em ETF | New | 0.11% | +0.11 |
| VNQ Vanguard Real Estate ETF | New | 0.11% | +0.11 |
| VBTX Veritex Holdings Inc. | New | 0.10% | +0.10 |
| TSLA Tesla Inc. | Add +3.8% | 0.33% | +0.10 |
| SUB iShares Short-Term National | New | 0.09% | +0.09 |
| ASML ASML Holding NV-NY Reg SHS | Add +219.8% | 0.16% | +0.09 |
| HCA HCA Healthcare Inc. | New | 0.09% | +0.09 |
| ROP Roper Technologies Inc. | New | 0.08% | +0.08 |
| HDV iShares Core High Dividend E | New | 0.08% | +0.08 |
| DFUS Dimensional US Eq MKT ETF | New | 0.08% | +0.08 |
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 |