True North Advisors, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 22, 2026), True North Advisors, LLC reported 249 stock positions worth $773.3 million. Its top holding was Apple (AAPL) at 10.6% of the portfolio, followed by Lennox International (LII, 10.6%) and Berkshire Hathaway Class B (BRK.B, 5.1%). Compared with Q3 2025, it opened 60 new positions, sold out of 26, added to 92 and reduced 85. The biggest buy was a new position in Vanguard Most SM-Cap ETF-Usd (VB) and the biggest sale Lennox International (LII, shares −5%).

Most Recent 13F
Q2 2026
Location
Dallas, TX
CIK
0001634556
Portfolio Value
$773.3M (Q4 2025)
SEC Filing
0001172661-26-000255 ↗ filed Jan 22, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $362.3M Q1 2024 Q2 2024: $374.3M Q2 2024 Q3 2024: $382.2M Q3 2024 Q4 2024: $424.2M Q4 2024 Q1 2025: $564.1M Q1 2025 Q2 2025: $521.8M Q2 2025 Q3 2025: $629.5M Q3 2025 Q4 2025: $773.3M $773.3M Q4 2025 Q1 2026: $877.1M Q1 2026 Q2 2026: $1.0B Q2 2026

Holdings 249 stocks · $773.3M

AAPL Apple Inc. 10.61% 301,690 $82.0M Reduce -1.0%
LII Lennox International Inc. 10.57% 168,330 $81.7M Reduce -5.3%
BRK.B Berkshire Hathaway Inc. Class B 5.12% 78,793 $39.6M Reduce -1.6%
SPY SS SPDR S&P 500 ETF Trust-US 4.41% 49,954 $34.1M Add +29.3%
AMZN Amazon.com Inc. 4.13% 138,372 $31.9M Reduce -0.3%
NVDA Nvidia Corp. 3.09% 128,133 $23.9M Reduce -0.1%
MSFT Microsoft Corp. 2.29% 36,579 $17.7M Reduce -9.5%
VB Vanguard Most SM-Cap ETF-Usd 2.13% 63,812 $16.5M New
IDEV iShares Core MSCI Dev MKTS 2.08% 195,417 $16.1M New
SCHB Schwab US Broad Market ETF 2.02% 595,340 $15.6M New
META Meta Platforms Inc. Class A 1.96% 22,941 $15.1M Reduce -0.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.89% 265,583 $14.6M Reduce -0.4%
FLXR TCW Flexible Income ETF 1.83% 357,357 $14.2M New
JQUA JPMorgan US Quality Factor 1.61% 196,616 $12.4M New
RSP Invesco S&P 500 Equal Weight 1.50% 60,496 $11.6M New
VEA Vanguard Ftse Developed ETF 1.41% 174,258 $10.9M New
JMBS Janus Henderson Mortg Backed 1.33% 225,335 $10.3M New
JAAA Janus Henderson Aaa Clo ETF 1.19% 181,385 $9.2M New
AVGO Broadcom Inc. 1.18% 26,335 $9.1M Reduce -27.3%
AVDV Avantis Intl S/C Value ETF 1.16% 95,253 $9.0M Add +8.5%
COST Costco Wholesale Corp. 1.13% 10,151 $8.8M Add +2.7%
IAU iShares Gold Trust 1.07% 101,817 $8.3M Reduce -2.0%
XOM Exxon Mobil Corp. 0.98% 63,242 $7.6M Reduce -7.0%
VTI VG Morningstar TS MKT ETF-US 0.92% 21,241 $7.1M New
GE General Electric filed as GE AEROSPACE 0.86% 21,511 $6.6M Reduce -0.1%
JPM JPMorgan Chase & Co. 0.85% 20,318 $6.5M Add +0.8%
MUNI PIMCO Intermediate Municipal 0.82% 120,549 $6.3M New
V Visa Inc. Class A 0.80% 17,644 $6.2M Add +3.9%
QQQ Invesco QQQ Trust Series 1 0.75% 9,473 $5.8M New
FAST Fastenal Co. 0.72% 139,030 $5.6M Add +0.0%
CORP PIMCO Inv Grade Corp. BD ETF 0.67% 52,918 $5.2M New
EPD Enterprise Products Partners 0.62% 150,001 $4.8M Reduce -0.4%
DFAC Dimensional US Core Equity 2 0.56% 109,176 $4.3M Add +36.6%
ABBV Abbvie Inc. 0.55% 18,611 $4.3M Add +2.2%
CTVA Corteva Inc. 0.53% 60,756 $4.1M Add +0.3%
APH Amphenol Corp. Class A 0.52% 29,520 $4.0M Reduce -12.0%
MS Morgan Stanley 0.49% 21,538 $3.8M Add +1.7%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.48% 82,890 $3.7M New
LLY Eli Lilly & Co. 0.47% 3,364 $3.6M Reduce -2.8%
LRCX Lam Research Corp. 0.45% 20,523 $3.5M Reduce -37.2%
SGOL Abrdn Physical Gold Shares 0.45% 83,816 $3.4M Add +2.6%
GEV GE Vernova Inc. 0.44% 5,200 $3.4M Reduce -0.5%
MLM Martin Marietta Materials 0.43% 5,360 $3.3M Reduce -0.3%
SYK Stryker Corp. 0.40% 8,690 $3.1M Add +1.5%
HD Home Depot Inc. 0.39% 8,849 $3.0M Reduce -3.7%
CAT Caterpillar Inc. 0.38% 5,180 $3.0M Reduce -0.1%
TPL Texas Pacific Land Corp. 0.37% 10,024 $2.9M Reduce -0.1%
SCHM Schwab US Mid Cap ETF 0.36% 91,628 $2.8M New
SPGI S&P Global Inc. 0.35% 5,157 $2.7M Add +3.4%
JEPI JPMorgan Equity Premium Inco 0.33% 44,825 $2.6M Reduce -5.9%
ALL Allstate Corp. 0.32% 11,919 $2.5M Add +1.5%
ABT Abbott Laboratories 0.32% 19,625 $2.5M Add +2.2%
KR Kroger Co. 0.30% 37,489 $2.3M Add +4.1%
DOW Dow Inc. 0.30% 97,610 $2.3M Add +0.3%
ADBE Adobe Inc. 0.29% 6,493 $2.3M Add +301.1%
SCHF Schwab Intl Equity ETF 0.29% 93,415 $2.2M New
JNJ Johnson & Johnson 0.27% 10,043 $2.1M Add +1.2%
DHI D.R. Horton Inc. 0.27% 14,390 $2.1M Reduce -0.9%
SHW The Sherwin-Williams Co. 0.26% 6,304 $2.0M Add +0.8%
AMAT Applied Materials Inc. 0.26% 7,920 $2.0M Add +1.3%
IVV iShares Core S&P 500 ETF 0.25% 2,874 $2.0M Add +28.4%
NEE Nextera Energy Inc. 0.25% 24,178 $1.9M Add +10.7%
IWD iShares Russell 1000 Value E 0.25% 9,192 $1.9M Add +3.5%
PAYX Paychex Inc. 0.25% 17,206 $1.9M Add +1.6%
TXN Texas Instruments Inc. 0.24% 10,632 $1.8M Reduce -6.7%
TSCO Tractor Supply Company 0.23% 35,425 $1.8M Add +0.5%
ET Energy Transfer LP 0.23% 106,640 $1.8M Add +8.8%
IBIT iShares Bitcoin Trust ETF 0.22% 34,890 $1.7M Reduce -17.9%
XLE SS Energy Select Sector 0.22% 38,400 $1.7M Reduce -2.9%
IWF iShares Russell 1000 Growth 0.22% 3,607 $1.7M Reduce -70.0%
DFAT Dimensional US Target Value 0.22% 28,257 $1.7M No change
VIOO Vanguard S&P Small-Cap 600 E 0.22% 15,149 $1.7M New
Q Qnity Electronics Inc. 0.22% 20,544 $1.7M No change
DD Dupont DE Nemours Inc. 0.21% 41,167 $1.7M Add +0.2%
CVX Chevron Corp. 0.21% 10,809 $1.6M Reduce -22.5%
ORCL Oracle Corp. 0.21% 8,305 $1.6M Reduce -11.8%
SCHG Schwab US Large-Cap Growth 0.21% 48,943 $1.6M New
NTAP Netapp Inc. 0.20% 14,676 $1.6M Reduce -0.9%
SPDW Ste STR SPDR PT DW Eu ETF 0.20% 35,286 $1.6M New
BRK.A Berkshire Hathaway Inc. Class A 0.20% 2 $1.5M No change
LMT Lockheed Martin Corp. 0.19% 3,012 $1.5M Add +4.8%
ALLE Allegion PLC 0.19% 9,107 $1.5M Add +1.5%
KLAC KLA Corp. 0.18% 1,173 $1.4M Add +1.0%
MU Micron Technology Inc. 0.18% 4,888 $1.4M Add +2.1%
MSI Motorola Solutions Inc. 0.18% 3,639 $1.4M Add +28.4%
MRK Merck & Co. Inc. 0.18% 13,214 $1.4M Add +3.3%
FNDA Schwab Fndmntl US SM Co. ETF 0.18% 43,832 $1.4M New
SCHV Schwab US Large-Cap Value 0.17% 45,641 $1.4M New
ZTS Zoetis Inc. 0.17% 10,638 $1.3M Reduce -6.9%
PFE Pfizer Inc. 0.17% 53,614 $1.3M Reduce -16.2%
RMD Resmed Inc. 0.17% 5,481 $1.3M Add +5.5%
ASML ASML Holding NV-NY Reg SHS 0.17% 1,229 $1.3M Reduce -1.4%
CEG Constellation Energy 0.16% 3,587 $1.3M New
PEP Pepsico Inc. 0.16% 8,676 $1.2M Add +29.2%
VMBS Vanguard Mortgage-Backed Sec 0.15% 25,166 $1.2M New
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.15% 3,729 $1.2M New
MA Mastercard Inc. Class A 0.15% 2,056 $1.2M Add +2.9%
IJR iShares Core S&P Small-Cap E 0.15% 9,753 $1.2M New
VBK Van Morst SML-Cap Gro-Usd Inc. 0.15% 3,810 $1.2M New
ISRG Intuitive Surgical Inc. 0.15% 2,019 $1.1M Reduce -13.6%
PG The Procter & Gamble Co. 0.15% 7,960 $1.1M Reduce -3.7%
HBAN Huntington Bancshares Inc. 0.15% 65,510 $1.1M Add +150.3%
DECK Deckers Outdoor Corp. 0.15% 10,880 $1.1M Add +4.6%
GS Goldman Sachs Group Inc. 0.14% 1,271 $1.1M Add +110.1%
RTX RTX Corp. 0.14% 6,072 $1.1M Add +0.5%
TSLA Tesla Inc. 0.14% 2,442 $1.1M Reduce -48.5%
APD Air Products & Chemicals Inc. 0.14% 4,439 $1.1M Add +5.8%
WMT Walmart Inc. 0.14% 9,825 $1.1M Reduce -26.6%
OSK Oshkosh Corp. 0.14% 8,596 $1.1M Reduce -0.3%
IWB iShares Russell 1000 ETF 0.14% 2,879 $1.1M Reduce -2.5%
QCOM Qualcomm Inc. 0.13% 6,038 $1.0M Reduce -1.1%
PHYS Sprott Physical Gold Trust 0.13% 30,659 $1.0M Reduce -11.4%
UNH Unitedhealth Group Inc. 0.13% 3,067 $1.0M Add +32.1%
USPH U.S. Physical Therapy Inc. 0.13% 12,674 $990K Add +15.8%
FNDC Schwab Fndmnt Intl SM Eq ETF 0.12% 21,339 $951K New
TLT iShares 20+ Year Treasury BD 0.12% 10,360 $903K Add +14.4%
TT Trane Technologies PLC 0.11% 2,271 $884K Add +0.2%
AMD Advanced Micro Devices 0.11% 4,077 $873K Reduce -0.4%
SCHZ Schwab US Aggregate Bond ETF 0.11% 37,336 $873K New
TOTL SS Doubleline TR Tact ETF 0.11% 21,439 $863K Add +230.9%
AAAU Goldman Sachs Physical Gold 0.11% 20,020 $852K No change
ITOT iShares Core S&P Total U.S. 0.11% 5,674 $844K Add +0.0%
PAAS Pan American Silver Corp. 0.11% 15,980 $828K No change
HON Honeywell International Inc. 0.11% 4,238 $827K Add +19.0%
QUAL iShares MSCI USA Quality Fac 0.10% 4,057 $806K Add +4.4%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.10% 2,747 $797K New
DFAX Dimensional World Ex US Core 0.10% 24,314 $796K New
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.10% 1,605 $771K Reduce -23.9%
VSS Vanguard Ftse All Wo X-US SC 0.10% 5,343 $766K New
VLO Valero Energy Corp. 0.09% 4,504 $733K Add +12.8%
KO The Coca-Cola Co. 0.09% 10,394 $727K Reduce -2.5%
ADI Analog Devices Inc. 0.09% 2,596 $704K Add +0.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.09% 4,521 $695K Reduce -9.2%
HCA HCA Healthcare Inc. 0.09% 1,461 $682K Add +16.9%
IWM iShares Russell 2000 ETF 0.09% 2,752 $677K Add +2.4%
MELI MercadoLibre Inc. 0.09% 332 $669K Add +1.2%
LOW Lowe's Cos Inc. 0.09% 2,766 $667K Reduce -1.9%
PM Philip Morris International 0.09% 4,134 $663K Add +10.2%
EFA iShares MSCI Eafe ETF 0.09% 6,866 $659K New
CRM Salesforce Inc. 0.08% 2,475 $656K Reduce -76.3%
IWO iShares Russell 2000 Growth 0.08% 1,954 $631K New
AXP American Express Co. 0.08% 1,698 $628K Reduce -1.9%
TMO Thermo Fisher Scientific Inc. 0.08% 1,061 $615K Add +12.4%
UNP Union Pacific Corp. 0.08% 2,645 $612K Reduce -4.2%
BXMT Blackstone Mortgage Tru Class A 0.08% 30,847 $590K Reduce -0.7%
AFL Aflac Inc. 0.08% 5,340 $589K Add +22.4%
MCD McDonald's Corp. 0.08% 1,900 $581K Reduce -29.7%
CSCO Cisco Systems Inc. 0.07% 7,444 $573K Reduce -42.1%
GEHC GE Healthcare Technology 0.07% 6,969 $572K Reduce -0.3%
SPMB SS SPDR P Mort Back Bond ETF 0.07% 24,680 $553K New
IWN iShares Russell 2000 Value E 0.07% 3,028 $549K No change
AZN Astrazeneca PLC-Spons ADR 0.07% 5,679 $522K Reduce -0.8%
CTAS Cintas Corp. 0.07% 2,758 $519K Reduce -0.5%
TSM Taiwan Semiconductor-SP ADR 0.07% 1,687 $513K Reduce -2.3%
ANET Arista Networks Inc. 0.06% 3,819 $500K Reduce -1.0%
CL Colgate-Palmolive Co. 0.06% 6,163 $487K Reduce -0.2%
VWO Vanguard Ftse Emerging Marke 0.06% 8,967 $482K New
TMUS T-Mobile US Inc. 0.06% 2,370 $481K Reduce -1.8%
GSLC Goldman Activebeta US LC ETF 0.06% 3,612 $478K No change
NFLX Netflix Inc. 0.06% 5,094 $478K Reduce -38.2%
MPC Marathon Petroleum Corp. 0.06% 2,917 $474K New
MMM 3M Co. 0.06% 2,958 $474K Add +16.5%
SPHQ Invesco S&P 500 Quality ETF 0.06% 6,278 $471K New
PANW Palo Alto Networks Inc. 0.06% 2,534 $467K Add +5.1%
VGIT Vanguard Intermediate-Term T 0.06% 7,550 $452K New
QUS SS SPDR MSCI U Stratfact ETF 0.06% 2,593 $452K No change
MPLX MPLX LP 0.06% 8,420 $449K Add +0.5%
ETR Entergy Corp. 0.06% 4,858 $449K Add +1.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.06% 3,945 $449K Reduce -6.2%
INTU Intuit Inc. 0.06% 668 $443K Add +11.9%
VNQ Vanguard Real Estate ETF 0.06% 4,981 $441K New
NOW ServiceNow Inc. 0.05% 2,770 $424K Reduce -2.6%
SLB SLB Ltd. filed as SLB LIMITED 0.05% 11,031 $423K Reduce -36.9%
AVDE Avantis International Equity 0.05% 5,066 $417K New
LUV Southwest Airlines Co. 0.05% 10,020 $414K Reduce -1.6%
MSCI MSCI Inc. 0.05% 698 $400K Add +39.0%
SLV iShares Silver Trust 0.05% 6,215 $400K New
MOAT Vaneck Morningstar Wide Moat 0.05% 3,777 $391K New
NBHC National Bank Hold Class A 0.05% 10,222 $389K Add +1.3%
DHR Danaher Corp. 0.05% 1,695 $388K Add +44.4%
IVW iShares S&P 500 Growth ETF 0.05% 3,132 $386K Add +30.8%
PLD Prologis Inc. 0.05% 3,005 $384K Add +7.3%
AON Aon PLC Class A 0.05% 1,085 $383K Add +1.1%
IEFA iShares Core MSCI Eafe ETF 0.05% 4,228 $378K No change
AMGN Amgen Inc. 0.05% 1,150 $377K Reduce -30.1%
IXUS iShares Core Intl Stock ETF 0.05% 4,445 $376K Add +0.1%
GLD SPDR Gold Shares 0.05% 948 $376K Reduce -15.7%
VTEB Vanguard Tax-Exempt Bond ETF 0.05% 7,430 $374K New
EMR Emerson Electric Co. 0.05% 2,774 $368K Reduce -0.6%
YUM Yum! Brands Inc. 0.05% 2,403 $364K Add +2.3%
TGT Target Corp. 0.05% 3,659 $358K Reduce -18.1%
COP Conocophillips 0.05% 3,810 $357K Reduce -76.0%
WPC WP Carey Inc. 0.05% 5,528 $356K Reduce -2.3%
RAVE Rave Restaurant Group Inc. 0.05% 106,678 $352K New
NUE Nucor Corp. 0.05% 2,158 $352K Reduce -1.7%
DFUS Dimensional US Eq MKT ETF 0.04% 4,666 $346K No change
COWZ Pacer US Cash Cows 100 ETF 0.04% 5,578 $336K Add +10.1%
VTR Ventas Inc. 0.04% 4,324 $335K Reduce -0.4%
ROL Rollins Inc. 0.04% 5,566 $334K Add +1.1%
L Loews Corp. 0.04% 3,156 $332K Add +1.9%
JMUB JPMorgan Municipal ETF 0.04% 6,523 $329K Add +30.6%
ICE Intercontinental Exchange Inc. 0.04% 2,020 $327K Add +24.9%
SAP Sap SE-Sponsored ADR 0.04% 1,308 $318K New
VIG Vanguard Dividend Apprec ETF 0.04% 1,438 $316K New
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.04% 1,730 $316K Add +0.8%
ALKT Alkami Technology Inc. 0.04% 13,538 $312K Reduce -9.8%
PSX Phillips 66 0.04% 2,391 $309K Add +39.2%
DOV Dover Corp. 0.04% 1,565 $306K New
VTV Vanguard Mrngstr Val ETF-Aui 0.04% 1,587 $303K New
DGRO iShares Core Dividend Growth 0.04% 4,322 $300K New
GD General Dynamics Corp. 0.04% 885 $298K New
CPT Camden Property Trust 0.04% 2,646 $291K Add +1.4%
ROK Rockwell Automation Inc. 0.04% 746 $290K Reduce -3.9%
PTLC Pacer Trendpilot US Large Ca 0.04% 5,195 $289K No change
USIG iShares Broad Usd Investment 0.04% 5,571 $288K Add +1.6%
CCL Carnival Corp. 0.04% 9,400 $287K Reduce -2.7%
SPEM State Street SP PTF Em ETF 0.04% 6,112 $286K Reduce -8.1%
OKE Oneok Inc. 0.04% 3,875 $285K Add +10.6%
IJH iShares Core S&P Midcap ETF 0.04% 4,245 $280K Add +17.9%
DGX Quest Diagnostics Inc. 0.04% 1,568 $272K Add +0.9%
NVO Novo-Nordisk A/S-Spons ADR 0.03% 5,305 $270K Add +3.9%
PGR Progressive Corp. 0.03% 1,178 $268K Add +2.0%
TTWO Take-Two Interactive Softwre 0.03% 1,039 $266K Reduce -0.4%
ECL Ecolab Inc. 0.03% 987 $259K Add +5.5%
DPZ Domino's Pizza Inc. 0.03% 619 $258K Add +1.0%
AVB Avalonbay Communities Inc. 0.03% 1,384 $251K Add +2.5%
BTC Grayscale Bitcoin Mini ETF 0.03% 6,470 $251K Add +0.1%
VYM Vanguard High DVD Yield ETF 0.03% 1,721 $247K New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.03% 951 $246K New
BABA Alibaba Group Holding-SP ADR 0.03% 1,671 $245K Add +1.4%
PLTR Palantir Technologies Inc. Class A 0.03% 1,370 $244K Reduce -2.4%
GGG Graco Inc. 0.03% 2,917 $239K New
SNPS Synopsys Inc. 0.03% 508 $239K Reduce -1.2%
SYY Sysco Corp. 0.03% 3,149 $232K Add +9.5%
SPMD SS SPDR P S&P 400 Midcap ETF 0.03% 3,992 $231K No change
FSLR First Solar Inc. 0.03% 879 $230K New
WELL Welltower Inc. 0.03% 1,187 $220K Reduce -5.8%
PSA Public Storage 0.03% 845 $219K Reduce -6.6%
ROP Roper Technologies Inc. 0.03% 488 $217K Reduce -33.0%
DVN Devon Energy Corp. 0.03% 5,898 $216K Reduce -54.4%
DLR Digital Realty Trust Inc. 0.03% 1,391 $215K Add +6.8%
MRSH Marsh & McLennan Cos 0.03% 1,155 $214K New
AVDS Avantis Intl SM Cap Eq ETF 0.03% 3,025 $211K New
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.03% 1,652 $205K New
COF Capital One Financial Corp. 0.03% 842 $204K New
ARCC Ares Capital Corp. 0.03% 9,978 $202K New
MAR Marriott International Class A 0.03% 650 $202K New
BHST Bioharvest Sciences Inc. 0.02% 34,928 $181K Reduce -79.2%
NAK Northern Dynasty Minerals 0.01% 22,750 $45K Reduce -30.5%
Other holdings (1): bonds, preferreds, convertibles and warrants · $219K (not counted above)
SecurityClassShares / PrincipalValueChange
YDESW YD Bio Ltd. -30 *W EXP 08/28/203 221,019$219KAdd +0.9%

Total filed on the 13F, all lines: $773.5M.

Portfolio Sells Q3 2025 → Q4 2025

LII Lennox International Inc. Reduce -5.3% 10.57% −4.38
AAPL Apple Inc. Reduce -1.0% 10.61% −1.72
GOVT iShares US Treasury Bond ETF Sold out 0.00% −1.34
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.6% 5.12% −1.27
MSFT Microsoft Corp. Reduce -9.5% 2.29% −1.04
KMX Carmax Inc. Sold out 0.00% −0.88
META Meta Platforms Inc. Class A Reduce -0.3% 1.96% −0.73
AVGO Broadcom Inc. Reduce -27.3% 1.18% −0.72
NVDA Nvidia Corp. Reduce -0.1% 3.09% −0.71
AMZN Amazon.com Inc. Reduce -0.3% 4.13% −0.71
IWF iShares Russell 1000 Growth Reduce -70.0% 0.22% −0.67
CRM Salesforce Inc. Reduce -76.3% 0.08% −0.31
BAC Bank of America Corp. Reduce -0.4% 1.89% −0.30
LRCX Lam Research Corp. Reduce -37.2% 0.45% −0.24
XOM Exxon Mobil Corp. Reduce -7.0% 0.98% −0.23
BHST Bioharvest Sciences Inc. Reduce -79.2% 0.02% −0.23
IBIT iShares Bitcoin Trust ETF Reduce -17.9% 0.22% −0.21
ORCL Oracle Corp. Reduce -11.8% 0.21% −0.21
HD Home Depot Inc. Reduce -3.7% 0.39% −0.20
TSLA Tesla Inc. Reduce -48.5% 0.14% −0.19
COP Conocophillips Reduce -76.0% 0.05% −0.19
GE General Electric Reduce -0.1% 0.86% −0.17
ACVA Acv Auctions Inc. Class A Sold out 0.00% −0.15
APH Amphenol Corp. Class A Reduce -12.0% 0.52% −0.14
TM Toyota Motor Corp. -Spon ADR Sold out 0.00% −0.14
IAU iShares Gold Trust Reduce -2.0% 1.07% −0.13
CVX Chevron Corp. Reduce -22.5% 0.21% −0.13
EPD Enterprise Products Partners Reduce -0.4% 0.62% −0.13
TPL Texas Pacific Land Corp. Reduce -0.1% 0.37% −0.12
DHI D.R. Horton Inc. Reduce -0.9% 0.27% −0.12
VBTX Veritex Holdings Inc. Sold out 0.00% −0.11
MLM Martin Marietta Materials Reduce -0.3% 0.43% −0.11
T AT&T Inc. Sold out 0.00% −0.11
JEPI JPMorgan Equity Premium Inco Reduce -5.9% 0.33% −0.10
SBUX Starbucks Corp. Sold out 0.00% −0.10
GILD Gilead Sciences Inc. Sold out 0.00% −0.10
NFLX Netflix Inc. Reduce -38.2% 0.06% −0.10
TXN Texas Instruments Inc. Reduce -6.7% 0.24% −0.09
ZTS Zoetis Inc. Reduce -6.9% 0.17% −0.09
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.09
PFE Pfizer Inc. Reduce -16.2% 0.17% −0.09
VZ Verizon Communications Inc. Sold out 0.00% −0.08
WMT Walmart Inc. Reduce -26.6% 0.14% −0.08
NTAP Netapp Inc. Reduce -0.9% 0.20% −0.08
IWP iShares Russell Mid-Cap Grow Sold out 0.00% −0.07
GEV GE Vernova Inc. Reduce -0.5% 0.44% −0.07
CSCO Cisco Systems Inc. Reduce -42.1% 0.07% −0.07
MDT Medtronic PLC Sold out 0.00% −0.06
ALLY Ally Financial Inc. Sold out 0.00% −0.06
XLE SS Energy Select Sector Reduce -2.9% 0.22% −0.06

Portfolio Buys Q3 2025 → Q4 2025

VB Vanguard Most SM-Cap ETF-Usd New 2.13% +2.13
IDEV iShares Core MSCI Dev MKTS New 2.08% +2.08
SCHB Schwab US Broad Market ETF New 2.02% +2.02
FLXR TCW Flexible Income ETF New 1.83% +1.83
JQUA JPMorgan US Quality Factor New 1.61% +1.61
RSP Invesco S&P 500 Equal Weight New 1.50% +1.50
VEA Vanguard Ftse Developed ETF New 1.41% +1.41
JMBS Janus Henderson Mortg Backed New 1.33% +1.33
JAAA Janus Henderson Aaa Clo ETF New 1.19% +1.19
VTI VG Morningstar TS MKT ETF-US New 0.92% +0.92
MUNI PIMCO Intermediate Municipal New 0.82% +0.82
QQQ Invesco QQQ Trust Series 1 New 0.75% +0.75
CORP PIMCO Inv Grade Corp. BD ETF New 0.67% +0.67
FNDF Schwab Fndmn Intl LRG Co. ETF New 0.48% +0.48
SCHM Schwab US Mid Cap ETF New 0.36% +0.36
SPY SS SPDR S&P 500 ETF Trust-US Add +29.3% 4.41% +0.32
SCHF Schwab Intl Equity ETF New 0.29% +0.29
VIOO Vanguard S&P Small-Cap 600 E New 0.22% +0.22
SCHG Schwab US Large-Cap Growth New 0.21% +0.21
ADBE Adobe Inc. Add +301.1% 0.29% +0.20
SPDW Ste STR SPDR PT DW Eu ETF New 0.20% +0.20
FNDA Schwab Fndmntl US SM Co. ETF New 0.18% +0.18
SCHV Schwab US Large-Cap Value New 0.17% +0.17
CEG Constellation Energy New 0.16% +0.16
VMBS Vanguard Mortgage-Backed Sec New 0.15% +0.15
VV Vngrd Mrgstr LRG-Cap ETF-Usd New 0.15% +0.15
IJR iShares Core S&P Small-Cap E New 0.15% +0.15
VBK Van Morst SML-Cap Gro-Usd Inc. New 0.15% +0.15
FNDC Schwab Fndmnt Intl SM Eq ETF New 0.12% +0.12
SCHZ Schwab US Aggregate Bond ETF New 0.11% +0.11
VO Vngrd Mrngstr MD-Cap ETF-Usd New 0.10% +0.10
DFAX Dimensional World Ex US Core New 0.10% +0.10
VSS Vanguard Ftse All Wo X-US SC New 0.10% +0.10
EFA iShares MSCI Eafe ETF New 0.09% +0.09
IWO iShares Russell 2000 Growth New 0.08% +0.08
HBAN Huntington Bancshares Inc. Add +150.3% 0.15% +0.08
SPMB SS SPDR P Mort Back Bond ETF New 0.07% +0.07
TOTL SS Doubleline TR Tact ETF Add +230.9% 0.11% +0.07
DFAC Dimensional US Core Equity 2 Add +36.6% 0.56% +0.07
GS Goldman Sachs Group Inc. Add +110.1% 0.14% +0.07
VWO Vanguard Ftse Emerging Marke New 0.06% +0.06
MPC Marathon Petroleum Corp. New 0.06% +0.06
SPHQ Invesco S&P 500 Quality ETF New 0.06% +0.06
VGIT Vanguard Intermediate-Term T New 0.06% +0.06
VNQ Vanguard Real Estate ETF New 0.06% +0.06
AVDE Avantis International Equity New 0.05% +0.05
MU Micron Technology Inc. Add +2.1% 0.18% +0.05
SLV iShares Silver Trust New 0.05% +0.05
MOAT Vaneck Morningstar Wide Moat New 0.05% +0.05
VTEB Vanguard Tax-Exempt Bond ETF New 0.05% +0.05

Notes & Other Activity Q3 2025 → Q4 2025

YDESW YD Bio Ltd. -30 *W EXP 08/28/203 Add +0.9% 221,019 $219K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 290$1.0BLII, AAPL, FNDX, AVDS, GOOGL
Q1 2026 244$877.1MLII, AAPL, FNDX, SPY, AVDS
Q4 2025 249$773.3MAAPL, LII, BRK.B, SPY, AMZN
Q3 2025 214$629.5MLII, AAPL, BRK.B, AMZN, SPY
Q2 2025 222$521.8MLII, BRK.B, AAPL, VB, MSFT
Q1 2025 243$564.1MLII, BRK.B, AAPL, VB, JMBS
Q4 2024 185$424.2MLII, BRK.B, AAPL, MSFT, COST
Q3 2024 185$382.2MLII, BRK.B, AAPL, MSFT, GOOG
Q2 2024 198$374.3MLII, BRK.B, AAPL, MSFT, GOOG
Q1 2024 195$362.3MLII, BRK.B, AAPL, MSFT, GOOG