True North Advisors, LLC

Registered adviser

CIK

1634556

Location

Dallas, TX

Portfolio Value

Mid $1,334,396,989

Diversification

Diversified

Filing Date

Global Rank

#2,451 / 8,827 ▲ 56 · as of Jun 2026

Top Industry

Consumer Electronics 18.3%

Period ended 38 days ago

Filed Oct 22, 2026 · 16d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 116048

Roster of Nov 1, 2026

Regulatory AUM

$5,422,653,468

Main clients

Individuals and high net worth (72% of AUM)

Private funds

34 funds · Mixed

Focus by fund count, roster of Nov 1, 2026

$1,084,458,091 gross assets

Private funds on Schedule D 7.B.(1)

As filed Sep 26, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$812,370,288 gross assets in 27 funds Hedge funds $508,187,136 (6) Other private funds $162,563,270 (11) Real estate funds $77,717,845 (7) Venture capital funds $63,902,037 (3)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$5,422,653,468	Individuals and high net worth (72%)
Apr 2025 to Mar 2026	$4,478,245,158	Individuals and high net worth (71%)
Apr 2024 to Mar 2025	$3,341,152,592	Individuals and high net worth (75%)
May 2023 to Mar 2024	$3,006,399,719	Individuals and high net worth (77%)
Apr 2023	$3,006,399,719	Individuals and high net worth (77%)
Apr 2022 to Mar 2023	$2,871,743,854	Individuals and high net worth (84%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 53.6%, 24.8 effective positions, active share 59.8% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

41.1% over the last four quarters (30% to under 100%)

Horizon

Horizon unknown

The value-weighted holding period is at least 10.9 quarters, but 21.5% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 59.8%; sector active share 33.9% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

302 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

21.8%

+12.0 pts

Top 5

48.3%

+10.8 pts

Top 10

62.6%

+9.1 pts

HHI

732

Diversified+329

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	56.4%	$752,723,212	104
Technology	15.5%	$207,466,142	36
Industrials	7.1%	$94,737,926	26
Financial Services	5.5%	$73,319,270	35
Consumer Cyclical	4.0%	$53,471,031	15
Communication Services	3.9%	$51,837,208	6
Healthcare	2.0%	$26,057,777	21
Consumer Defensive	1.6%	$21,794,700	11
Energy	1.6%	$21,122,608	12
Basic Materials	1.3%	$17,034,459	11
Real Estate	0.8%	$11,042,503	21
Utilities	0.3%	$3,790,153	4

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
GOOG	Alphabet Inc.	+75,521	76,600	$26,100,684
FAST	Fastenal Co	+66,542	201,758	$9,993,073
EVT	Eaton Vance Tax-Advantaged Dividend Income Fund	+59,922	86,922	$2,425,993
PONY	Pony AI Inc.	+29,499	113,182	$740,210
VEA	Vanguard FTSE Developed Markets ETF	+25,705	341,816	$24,135,627
RAUS	RACWI US ETF	+22,939	157,897	$4,737,225
FNDX	Schwab Fundamental U.S. Large Company ETF	+22,889	2,163,768	$68,093,778
CSHI	NEOS Enhanced Income 1-3 Month T-Bill ETF	+22,616	94,544	$4,699,782
APH	Amphenol Corp	+21,135	42,350	$3,570,105
AAPL	Apple Inc.	+19,006	319,401	$106,366,921
AVDE	Avantis International Equity ETF	+17,368	137,090	$12,353,179
AVEM	Avantis Emerging Markets Equity ETF	+12,204	163,419	$15,364,654
AVDS	Avantis International Small Cap Equity ETF	+11,995	461,539	$36,060,272
UBER	Uber Technologies, Inc	+10,891	29,620	$2,029,266
RSP	Victory Portfolios II	+9,754	74,636	$0
FNDF	Schwab Fundamental International Equity ETF	+9,123	71,699	$3,853,821
IJR	iShares Core S&P Small-Cap ETF	+5,869	31,875	$4,336,275
BXMT	Blackstone Mortgage Trust, Inc.	+5,631	68,628	$785,790
PTLC	Pacer Trendpilot US Large Cap ETF	+5,550	13,946	$829,926
MINT	PIMCO Enhanced Short Maturity Active Exchange-Traded Fund	+5,175	9,152	$920,233
VUG	VANGUARD GROWTH INDEX FUND	+5,052	9,228	$831,535
MLM	Martin Marietta Materials Inc	+4,953	10,270	$4,927,648
COST	Costco Wholesale Corp	+4,717	15,487	$14,098,435
VTR	Ventas, Inc.	+4,467	8,851	$752,512
IBIT	iShares Bitcoin Trust ETF	+4,103	11,852	$561,073
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
PYLD		−56,595	663,875	$16,855,786
GOOGL	Alphabet Inc.	−51,781	40,522	$13,942,809
MINO	PIMCO Municipal Income Opportunities Active Exchange-Traded Fund	−51,612	89,302	$3,803,372
JPIE	JPMorgan Income ETF	−42,121	446,378	$20,037,908
FLXR		−26,147	458,562	$17,393,256
MUNI	PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund	−18,226	105,699	$5,252,183
GOVT	iShares U.S. Treasury Bond ETF	−16,935	342,411	$7,488,528
NVDA	Nvidia Corp	−13,308	124,782	$28,497,713
SCHB	Schwab U.S. Broad Market ETF	−6,826	504,827	$14,796,479
LII	Lennox International Inc	−6,706	154,404	$54,816,508
ANET	Arista Networks, Inc.	−6,627	4,858	$989,040
MU	Micron Technology Inc	−6,049	230	$244,975
SCHX	Schwab U.S. Large-Cap ETF	−5,333	211,240	$6,337,200
SCHZ	Schwab U.S. Aggregate Bond ETF	−4,005	12,135	$268,183
SCHG	Schwab U.S. Large-Cap Growth ETF	−3,901	47,775	$1,716,555
AMZN	Amazon Com Inc	−2,933	129,617	$32,294,075
CME	Cme Group Inc.	−2,701	1,429	$374,369
META	Meta Platforms, Inc.	−2,569	15,062	$10,922,661
V	Visa Inc.	−2,541	16,965	$6,096,033
IDEV	iShares Core MSCI International Developed Markets ETF	−2,193	143,819	$12,868,924
JQUA	JPMorgan U.S. Quality Factor ETF	−2,084	165,226	$12,193,678
MS	Morgan Stanley	−2,054	9,147	$1,720,367
VMBS	VANGUARD MORTGAGE-BACKED SECURITIES INDEX FUND	−2,042	6,893	$306,118
NFLX	Netflix Inc	−1,884	3,773	$262,525
ABT	Abbott Laboratories	−1,874	7,695	$760,496
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SGOV	iShares 0-3 Month Treasury Bond ETF	2,511,902	$252,898,293
VOO	VANGUARD 500 INDEX FUND	49,013	$34,351,251
USFR	WisdomTree Floating Rate Treasury Fund	260,581	$13,130,676
VXX		301,406	$5,307,759
GRBK	Green Brick Partners, Inc.	77,400	$5,116,914
CBRE	Cbre Group, Inc.	11,868	$1,524,681
SCHD	Schwab U.S. Dividend Equity ETF	34,768	$1,131,003
CLOA		18,712	$970,815
KMI	Kinder Morgan, Inc.	23,521	$709,158
AMT	American Tower Corp	3,898	$638,063
BLK	BlackRock, Inc.	598	$632,857
ETN	Eaton Corp plc	1,393	$598,586
CMI	Cummins Inc	1,000	$516,570
VNOM	Viper Energy, Inc.	12,880	$513,783
YOLO	AdvisorShares Pure Cannabis ETF	174,237	$507,900
JCI	Johnson Controls International plc	3,401	$505,558
C	Citigroup Inc	3,768	$487,880
AEP	American Electric Power Co Inc	4,108	$487,373
HON	Honeywell International Inc	2,267	$478,200
CB	Chubb Ltd	1,183	$384,770
BRX	Brixmor Property Group Inc.	13,804	$380,990
CFR	Cullen/Frost Bankers, Inc.	2,436	$371,904
COMP	Compass, Inc.	38,460	$341,524
MKL	Markel Group Inc.	192	$328,790
SBAC	Sba Communications Corp	2,039	$326,484
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
EPD	Enterprise Products Partners L.P.	150,184	$5,520,763
VGLT	VANGUARD LONG-TERM TREASURY INDEX FUND	71,287	$3,933,616
ET	Energy Transfer LP	106,116	$2,028,935
—		176,006	$1,265,483
TLT	iShares 20+ Year Treasury Bond ETF	10,697	$924,434
PHYS	Sprott Physical Gold Trust	29,049	$876,408
MPLX	Mplx LP	8,494	$478,467
QUAL	iShares MSCI USA Quality Factor ETF	2,107	$462,339
STLA	Stellantis N.V.	80,123	$459,906
TMUS	T-Mobile US, Inc.	2,459	$412,448
AON	Aon plc	1,239	$410,963
COF	Capital One Financial Corp	1,546	$310,158
STX	Seagate Technology Holdings plc	306	$295,290
MRSH	Marsh & Mclennan Companies, Inc.	1,581	$263,505
EOG	Eog Resources Inc	1,957	$253,881
SNOW	Snowflake Inc.	995	$253,227
TTWO	Take Two Interactive Software Inc	1,006	$251,479
PWR	Quanta Services, Inc.	346	$249,133
GD	General Dynamics Corp	689	$244,071
ROL	Rollins Inc	5,520	$230,404
FBTC	Fidelity Wise Origin Bitcoin Fund	4,367	$222,935
VRTX	Vertex Pharmaceuticals Inc	447	$222,038
WMB	Williams Companies, Inc.	2,963	$220,269
BKNG	Booking Holdings Inc.	1,229	$219,056
WDC	Western Digital Corp	342	$218,442
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

302 tracked positions · $1,334,396,989 total · filing declares 302 positions · $1,351,795,645 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 302 positions by value · page 1 of 7

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SGOV	iShares 0-3 Month Treasury Bond ETF	NEW	2,511,902	NEW	$252,898,293	NEW	18.95%
AAPL	Apple Inc. Technology	Added	319,401	+19,006	$106,366,921	+22.4%	7.97%
FNDX	Schwab Fundamental U.S. Large Company ETF	Added	2,163,768	+22,889	$68,093,778	+2.3%	5.10%
LII	Lennox International Inc Industrials	Reduced	154,404	-6,706	$54,816,508	−40.6%	4.11%
AVDS	Avantis International Small Cap Equity ETF	Added	461,539	+11,995	$36,060,272	+6.6%	2.70%
VOO	VANGUARD 500 INDEX FUND	NEW	49,013	NEW	$34,351,251	NEW	2.57%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	129,617	-2,933	$32,294,075	+2.2%	2.42%
SPY	Spdr S&P 500 ETF Trust	Reduced	41,494	-122	$31,644,569	+1.8%	2.37%
NVDA	Nvidia Corp Technology	Reduced	124,782	-13,308	$28,497,713	+3.1%	2.14%
GOOG	Alphabet Inc. Communication Services	Added	76,600	+75,521	$26,100,684	+6746.2%	1.96%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	51,520	+2,263	$25,654,384	+4.1%	1.92%
VEA	Vanguard FTSE Developed Markets ETF	Added	341,816	+25,705	$24,135,627	+7.2%	1.81%
JPIE	JPMorgan Income ETF	Reduced	446,378	-42,121	$20,037,908	−10.9%	1.50%
MSFT	Microsoft Corp Technology	Reduced	38,584	-427	$19,789,733	+36.0%	1.48%
FLXR		Reduced	458,562	-26,147	$17,393,256	−8.5%	1.30%
VB	Vanguard Index Funds	Reduced	60,004	-1,747	$17,070,537	−8.8%	1.28%
PYLD		Reduced	663,875	-56,595	$16,855,786	−11.8%	1.26%
AVEM	Avantis Emerging Markets Equity ETF	Added	163,419	+12,204	$15,364,654	+5.3%	1.15%
SCHB	Schwab U.S. Broad Market ETF	Reduced	504,827	-6,826	$14,796,479	−0.1%	1.11%
BAC	Bank Of America Corp Financial Services	Added	264,171	+146	$14,378,827	−4.4%	1.08%
COST	Costco Wholesale Corp Consumer Defensive	Added	15,487	+4,717	$14,098,435	+39.9%	1.06%
GOOGL	Alphabet Inc. Communication Services	Reduced	40,522	-51,781	$13,942,809	−57.7%	1.04%
USFR	WisdomTree Floating Rate Treasury Fund	NEW	260,581	NEW	$13,130,676	NEW	0.98%
IDEV	iShares Core MSCI International Developed Markets ETF	Reduced	143,819	-2,193	$12,868,924	−1.0%	0.96%
AVDE	Avantis International Equity ETF	Added	137,090	+17,368	$12,353,179	+15.7%	0.93%
JQUA	JPMorgan U.S. Quality Factor ETF	Reduced	165,226	-2,084	$12,193,678	+0.8%	0.91%
META	Meta Platforms, Inc. Communication Services	Reduced	15,062	-2,569	$10,922,661	+10.0%	0.82%
AVDV	Avantis International Small Cap Value ETF	Added	96,301	+597	$10,533,403	+6.8%	0.79%
FAST	Fastenal Co Industrials	Added	201,758	+66,542	$9,993,073	+53.9%	0.75%
XOM	ExxonMobil Holdings Corp Energy	Added	57,800	+1,478	$9,406,950	+22.2%	0.70%
JMBS	Janus Henderson Mortgage-Backed Securities ETF	Reduced	219,694	-1,582	$9,284,268	−6.7%	0.70%
AVGO	Broadcom Inc. Technology	Added	25,074	+346	$8,805,738	−5.7%	0.66%
GOVT	iShares U.S. Treasury Bond ETF	Reduced	342,411	-16,935	$7,488,528	−8.5%	0.56%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Reduced	19,604	-135	$7,336,600	+0.4%	0.55%
GE	General Electric Co Industrials	Added	22,596	+904	$7,056,504	−13.0%	0.53%
IAU	Ishares Gold Trust	Added	89,821	+2,205	$7,015,020	+6.0%	0.53%
QQQ	Invesco Qqq Trust, Series 1	Reduced	8,694	-220	$6,431,560	−2.0%	0.48%
SCHX	Schwab U.S. Large-Cap ETF	Reduced	211,240	-5,333	$6,337,200	−0.6%	0.47%
V	Visa Inc. Financial Services	Reduced	16,965	-2,541	$6,096,033	−8.9%	0.46%
JPM	Jpmorgan Chase & Co Financial Services	Added	17,843	+142	$5,902,999	+1.9%	0.44%
CAT	Caterpillar Inc Industrials	Added	6,780	+1,638	$5,497,156	+0.4%	0.41%
VXX		NEW	301,406	NEW	$5,307,759	NEW	0.40%
MUNI	PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund	Reduced	105,699	-18,226	$5,252,183	−19.4%	0.39%
GRBK	Green Brick Partners, Inc. Consumer Cyclical	NEW	77,400	NEW	$5,116,914	NEW	0.38%
GEV	GE Vernova Inc. Industrials	Reduced	5,201	-75	$4,943,498	−20.2%	0.37%
MLM	Martin Marietta Materials Inc Basic Materials	Added	10,270	+4,953	$4,927,648	+60.7%	0.37%
KMX	Carmax Inc Consumer Cyclical	Added	89,388	+2,934	$4,926,172	+7.7%	0.37%
LLY	ELI LILLY & Co Healthcare	Added	4,217	+1,108	$4,879,406	+30.8%	0.37%
LRCX	Lam Research Corp Technology	Reduced	14,549	-126	$4,779,491	−24.8%	0.36%
RAUS	RACWI US ETF	Added	157,897	+22,939	$4,737,225	+19.8%	0.36%

Showing the top 50 of 302 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.