True North Advisors, LLC
Long book
$877.3M
Q1 2026
Positions
245
Top-10 weight
45%
concentration
Last quarter
+12.5%
SPY +14.8%
Turnover
29%
of book per quarter
Strategy in plain words
auto-generated from filingsTrue North Advisors, LLC is an institutional manager, running a $877.3M US long book across 245 positions.
The portfolio is moderately concentrated (top 10 ≈ 45% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: LENNOX INTERNATIONAL INC, APPLE INC, SCHWAB FNDMNTL US LRG CO ETF, SS SPDR S&P 500 ETF TRUST-US, AVANTIS INTL SM CAP EQ ETF.
Over the last 9 quarters its long book ran on average 0.8pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+5.0%
Q2 2024
+8.3%
Q3 2024
+1.8%
Q4 2024
-1.3%
Q1 2025
+4.3%
Q2 2025
+3.5%
Q3 2025
+0.4%
Q4 2025
-1.5%
Q1 2026
+12.5%
Sector allocation
Technology 33%
Industrials 23%
Consumer discretionary 13%
Financials 13%
Healthcare 5%
Energy 3%
Services media 3%
Materials 2%
Long book by quarter
What does True North own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| LII LENNOX INTERNATIONAL INC | Industrials | 165.8K | $76.9M | 8.8% | -1.5% |
| AAPL APPLE INC | Technology | 299.6K | $76.0M | 8.7% | -0.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 135.0K | $28.1M | 3.2% | -2.4% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 57.1K | $27.4M | 3.1% | -27.5% |
| NVDA NVIDIA CORP | Technology | 131.9K | $23.0M | 2.6% | +3.0% |
| MSFT MICROSOFT CORP | Technology | 38.7K | $14.3M | 1.6% | +5.8% |
| BAC BANK OF AMERICA CORP | Financials | 265.1K | $12.9M | 1.5% | -0.2% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 10.9K | $10.9M | 1.2% | +7.7% |
| META META PLATFORMS INC-CLASS A | Technology | 18.7K | $10.7M | 1.2% | -18.4% |
| XOM EXXON MOBIL CORP | Energy | 61.1K | $10.4M | 1.2% | -3.3% |
| AVGO BROADCOM INC | Technology | 25.1K | $7.8M | 0.9% | -4.7% |
| FAST FASTENAL CO | Consumer discretionary | 138.4K | $6.4M | 0.7% | -0.5% |
| GE GENERAL ELECTRIC | Industrials | 21.6K | $6.1M | 0.7% | +0.6% |
| V VISA INC-CLASS A SHARES | Services media | 19.8K | $6.0M | 0.7% | +12.2% |
| JPM JPMORGAN CHASE & CO | Financials | 19.4K | $5.7M | 0.6% | -4.7% |
| CTVA CORTEVA INC | Consumer staples | 60.8K | $5.1M | 0.6% | 0.0% |
| GEV GE VERNOVA INC | Industrials | 5.3K | $4.6M | 0.5% | +1.4% |
| DOW DOW INC | Materials | 99.4K | $4.1M | 0.5% | +1.8% |
| ABBV ABBVIE INC | Healthcare | 18.6K | $4.1M | 0.5% | +0.1% |
| CAT CATERPILLAR INC | Industrials | 5.2K | $3.7M | 0.4% | -0.3% |
| KMX CARMAX INC | Consumer discretionary | 86.6K | $3.6M | 0.4% | New |
| MS MORGAN STANLEY | Financials | 21.2K | $3.5M | 0.4% | -1.6% |
| LRCX LAM RESEARCH CORP | Industrials | 16.1K | $3.4M | 0.4% | -21.5% |
| HD HOME DEPOT INC | Consumer discretionary | 9.8K | $3.2M | 0.4% | +11.1% |
| MLM MARTIN MARIETTA MATERIALS | Materials | 5.3K | $3.1M | 0.4% | -0.5% |
| SYK STRYKER CORP | Healthcare | 9.5K | $3.1M | 0.4% | +9.3% |
| LLY ELI LILLY & CO | Healthcare | 3.3K | $3.0M | 0.3% | -3.1% |
| APH AMPHENOL CORP-CL A | Technology | 22.5K | $2.8M | 0.3% | -23.7% |
| CVX CHEVRON CORP | Energy | 13.7K | $2.8M | 0.3% | +26.8% |
| AMAT APPLIED MATERIALS INC | Technology | 7.7K | $2.6M | 0.3% | -3.3% |
| KR KROGER CO | Consumer discretionary | 35.3K | $2.6M | 0.3% | -5.8% |
| Q QNITY ELECTRONICS INC | Technology | 20.5K | $2.4M | 0.3% | -0.3% |
| ALL ALLSTATE CORP | Financials | 11.3K | $2.3M | 0.3% | -5.3% |
| SPGI S&P GLOBAL INC | Services media | 5.0K | $2.1M | 0.2% | -2.1% |
| NEE NEXTERA ENERGY INC | Utilities | 22.7K | $2.1M | 0.2% | -6.3% |
| LMT LOCKHEED MARTIN CORP | Industrials | 3.4K | $2.0M | 0.2% | +12.2% |
| SHW SHERWIN-WILLIAMS CO/THE | Consumer discretionary | 6.2K | $2.0M | 0.2% | -1.0% |
| ABT ABBOTT LABORATORIES | Healthcare | 18.8K | $1.9M | 0.2% | -4.2% |
| DHI DR HORTON INC | Industrials | 14.1K | $1.9M | 0.2% | -2.3% |
| TSLA TESLA INC | Industrials | 5.2K | $1.9M | 0.2% | +111.1% |
| MU MICRON TECHNOLOGY INC | Technology | 5.6K | $1.9M | 0.2% | +14.3% |
| DD DUPONT DE NEMOURS INC | Materials | 41.0K | $1.9M | 0.2% | -0.4% |
| JNJ JOHNSON & JOHNSON | Healthcare | 7.1K | $1.7M | 0.2% | -29.0% |
| KLAC KLA CORP | Other | 1.1K | $1.7M | 0.2% | -2.6% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 1.2K | $1.6M | 0.2% | +0.2% |
| MSI MOTOROLA SOLUTIONS INC | Technology | 3.7K | $1.6M | 0.2% | +0.5% |
| TSCO TRACTOR SUPPLY COMPANY | Consumer discretionary | 35.0K | $1.6M | 0.2% | -1.3% |
| PAYX PAYCHEX INC | Services media | 16.8K | $1.5M | 0.2% | -2.6% |
| ADBE ADOBE INC | Technology | 6.1K | $1.5M | 0.2% | -5.7% |
| NTAP NETAPP INC | Technology | 14.4K | $1.5M | 0.2% | -1.6% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 7, 2026 | 245 | $877.3M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 22, 2026 | 250 | $773.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 14, 2025 | 215 | $630.0M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 16, 2025 | 222 | $521.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 243 | $564.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 17, 2025 | 185 | $424.2M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 8, 2024 | 185 | $382.2M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 12, 2024 | 198 | $374.3M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 12, 2024 | 196 | $362.3M | canonical | SEC ↗ |
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