13F HOLDINGS REPORT

True North Advisors, LLC

Quarter ended Q1 2025 · Filed May 12, 2025 · Accession 0001172661-25-001678

Total Value

$564.1M

Positions

243

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (243)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	LENNOX INTL INC	526107107	181,219	$101.6M	18.02%
2	BERKSHIRE HATHAWAY INC DEL	BRK-A	82,982	$44.2M	7.83%
3	APPLE INC	AAPL	108,353	$24.1M	4.27%
4	VANGUARD INDEX FDS	922908751	83,262	$18.5M	3.27%
5	JANUS DETROIT STR TR	47103U852	386,452	$17.5M	3.10%
6	ISHARES TR	46429B267	694,311	$16.0M	2.83%
7	PIMCO ETF TR	72201R817	115,841	$11.2M	1.99%
8	MICROSOFT CORP	MSFT	29,590	$11.1M	1.97%
9	COSTCO WHSL CORP NEW	22160K105	9,366	$8.9M	1.57%
10	EXXON MOBIL CORP	XOM	71,119	$8.5M	1.50%
11	PIMCO ETF TR	72201R866	130,787	$6.7M	1.20%
12	SCHWAB STRATEGIC TR	808524201	301,098	$6.6M	1.18%
13	ALPHABET INC	GOOG	38,822	$6.1M	1.08%
14	FASTENAL CO	FAST	75,669	$5.9M	1.04%
15	AMAZON COM INC	AMZN	29,963	$5.7M	1.01%
16	VISA INC	V	16,178	$5.7M	1.01%
17	ENTERPRISE PRODS PARTNERS L	293792107	151,301	$5.2M	0.92%
18	ISHARES TR	464287614	14,219	$5.1M	0.91%
19	JPMORGAN CHASE & CO.	VYLD	20,659	$5.1M	0.90%
20	ABBVIE INC	ABBV	23,693	$5.0M	0.88%
21	GE AEROSPACE	369604301	24,706	$4.9M	0.88%
22	BROADCOM INC	AVGO	27,857	$4.7M	0.83%
23	TEXAS PACIFIC LAND CORPORATI	TPL	3,514	$4.7M	0.83%
24	ALPHABET INC	GOOG	29,749	$4.6M	0.82%
25	NUVEEN MUN VALUE FD INC	NU	510,777	$4.5M	0.79%
26	CARMAX INC	KMX	56,779	$4.4M	0.78%
27	VANGUARD INDEX FDS	922908363	8,467	$4.4M	0.77%
28	MARKEL GROUP INC	MKL	2,185	$4.1M	0.72%
29	SPDR S&P 500 ETF TR	SPY	6,964	$3.9M	0.69%
30	CORTEVA INC	CTVA	60,453	$3.8M	0.67%
31	VANGUARD INDEX FDS	922908769	13,154	$3.6M	0.64%
32	BANK AMERICA CORP	060505104	83,163	$3.5M	0.62%
33	DOW INC	DOW	97,479	$3.4M	0.60%
34	ABBOTT LABS	ABLZF	25,473	$3.4M	0.60%
35	HOME DEPOT INC	HD	9,144	$3.4M	0.59%
36	STRYKER CORPORATION	SYK	8,702	$3.2M	0.57%
37	SALESFORCE INC	CRM	11,555	$3.1M	0.55%
38	DUPONT DE NEMOURS INC	DD	41,277	$3.1M	0.55%
39	SCHWAB STRATEGIC TR	808524771	130,164	$3.1M	0.54%
40	SCHWAB STRATEGIC TR	808524508	117,051	$3.1M	0.54%
41	ACCENTURE PLC IRELAND	ACN	9,738	$3.0M	0.54%
42	PAYCHEX INC	PAYX	19,579	$3.0M	0.54%
43	KROGER CO	KR	43,117	$2.9M	0.52%
44	SHERWIN WILLIAMS CO	SHW	8,242	$2.9M	0.51%
45	MORGAN STANLEY	MS-PQ	24,423	$2.8M	0.51%
46	ALLSTATE CORP	ALL-PJ	13,704	$2.8M	0.50%
47	AMPHENOL CORP NEW	032095101	43,066	$2.8M	0.50%
48	ELI LILLY & CO	LLY	3,355	$2.8M	0.49%
49	ETFS GOLD TR	00326A104	89,912	$2.7M	0.48%
50	S&P GLOBAL INC	SPGI	5,240	$2.7M	0.47%
51	NVIDIA CORPORATION	NVDA	24,483	$2.7M	0.47%
52	ZOETIS INC	ZTS	16,109	$2.7M	0.47%
53	DIMENSIONAL ETF TRUST	25434V708	79,903	$2.6M	0.47%
54	TRACTOR SUPPLY CO	TSCO	46,710	$2.6M	0.46%
55	MARTIN MARIETTA MATLS INC	573284106	5,362	$2.6M	0.45%
56	D R HORTON INC	23331A109	19,847	$2.5M	0.45%
57	LAM RESEARCH CORP	LRCX	34,664	$2.5M	0.45%
58	NEXTERA ENERGY INC	NEE-PW	34,397	$2.4M	0.43%
59	SCHWAB STRATEGIC TR	808524755	60,837	$2.2M	0.39%
60	CONOCOPHILLIPS	COP	20,842	$2.2M	0.39%
61	VANGUARD ADMIRAL FDS INC	921932828	22,668	$2.2M	0.39%
62	BLACKSTONE INC	BX	15,638	$2.2M	0.39%
63	APOLLO GLOBAL MGMT INC	03769M106	15,311	$2.1M	0.37%
64	CHEVRON CORP NEW	CVX	12,486	$2.1M	0.37%
65	TEXAS INSTRS INC	882508104	11,614	$2.1M	0.37%
66	J P MORGAN EXCHANGE TRADED F	46641Q332	35,751	$2.0M	0.36%
67	ENERGY TRANSFER L P	ET-PI	99,617	$1.9M	0.33%
68	SBA COMMUNICATIONS CORP NEW	SBAC	8,377	$1.8M	0.33%
69	GE VERNOVA INC	GEV	5,963	$1.8M	0.32%
70	SCHWAB STRATEGIC TR	808524409	68,438	$1.8M	0.32%
71	SELECT SECTOR SPDR TR	81369Y506	19,428	$1.8M	0.32%
72	CBRE GROUP INC	CBRE	13,267	$1.7M	0.31%
73	CATERPILLAR INC	CAT	5,227	$1.7M	0.31%
74	FISERV INC	FISV	7,633	$1.7M	0.30%
75	VANGUARD SCOTTSDALE FDS	92206C771	35,250	$1.6M	0.29%
76	ELEVANCE HEALTH INC	ELV	3,712	$1.6M	0.29%
77	BERKSHIRE HATHAWAY INC DEL	BRK-A	2	$1.6M	0.28%
78	ISHARES TR	464287598	7,969	$1.5M	0.27%
79	DIMENSIONAL ETF TRUST	25434V609	28,257	$1.5M	0.26%
80	ISHARES TR	464287200	2,572	$1.4M	0.26%
81	PFIZER INC	PFE	56,855	$1.4M	0.26%
82	JOHNSON & JOHNSON	JNJ	8,560	$1.4M	0.25%
83	SPDR INDEX SHS FDS	78463X889	38,428	$1.4M	0.25%
84	SCHWAB STRATEGIC TR	808524300	55,649	$1.4M	0.25%
85	META PLATFORMS INC	META	2,274	$1.3M	0.23%
86	AIR PRODS & CHEMS INC	AIIR	4,276	$1.3M	0.22%
87	INVESCO QQQ TR	IVZ	2,596	$1.2M	0.22%
88	MERCK & CO INC	MRK	12,568	$1.1M	0.20%
89	SCHWAB STRATEGIC TR	808524839	48,701	$1.1M	0.20%
90	PROCTER AND GAMBLE CO	742718109	6,556	$1.1M	0.20%
91	SCHWAB STRATEGIC TR	808524763	39,484	$1.1M	0.19%
92	TESLA INC	TSLA	3,774	$978,071	0.17%
93	ISHARES TR	464287648	3,802	$971,525	0.17%
94	VANGUARD INDEX FDS	922908637	3,729	$958,465	0.17%
95	TOYOTA MOTOR CORP	TOYOF	5,197	$917,427	0.16%
96	VANGUARD TAX-MANAGED FDS	921943858	17,887	$909,208	0.16%
97	SPDR DOW JONES INDL AVERAGE	78467X109	2,097	$880,376	0.16%
98	ACV AUCTIONS INC	ACVA	62,184	$876,173	0.16%
99	INTUITIVE SURGICAL INC	ISRG	1,744	$863,769	0.15%
100	SPROTT PHYSICAL GOLD TR	SII	35,817	$861,757	0.15%
101	UNITEDHEALTH GROUP INC	UNH	1,589	$832,239	0.15%
102	ORACLE CORP	ORCL-PD	5,941	$830,611	0.15%
103	ISHARES TR	46432F339	4,745	$810,873	0.14%
104	OSHKOSH CORP	OSK	8,580	$807,206	0.14%
105	QUALCOMM INC	QCOM	5,234	$803,959	0.14%
106	BOOKING HOLDINGS INC	BKNG	173	$796,995	0.14%
107	VANGUARD SCOTTSDALE FDS	92206C870	9,643	$788,412	0.14%
108	SCHWAB STRATEGIC TR	808524748	21,623	$782,753	0.14%
109	ASML HOLDING N V	ASMLF	1,116	$739,499	0.13%
110	MASTERCARD INCORPORATED	MA	1,316	$721,233	0.13%
111	U S PHYSICAL THERAPY	USPH	9,901	$716,436	0.13%
112	ISHARES TR	464287150	5,845	$713,203	0.13%
113	VANGUARD INDEX FDS	922908629	2,747	$710,342	0.13%
114	PEPSICO INC	PEP	4,622	$692,979	0.12%
115	RTX CORPORATION	RTX	5,192	$687,732	0.12%
116	TRANE TECHNOLOGIES PLC	TT	2,013	$678,171	0.12%
117	HONEYWELL INTL INC	438516106	3,132	$663,201	0.12%
118	COLGATE PALMOLIVE CO	CL	6,909	$647,373	0.11%
119	ISHARES GOLD TR	IAU	10,650	$627,924	0.11%
120	VANGUARD INTL EQUITY INDEX F	922042718	5,428	$627,477	0.11%
121	VANGUARD STAR FDS	921909768	10,029	$622,824	0.11%
122	COCA COLA CO	KO	8,671	$621,000	0.11%
123	UNION PAC CORP	UNP	2,576	$608,554	0.11%
124	VANGUARD INTL EQUITY INDEX F	922042858	13,299	$601,917	0.11%
125	MERCADOLIBRE INC	MELI	305	$595,015	0.11%
126	WALMART INC	WMT	6,357	$558,045	0.10%
127	PALO ALTO NETWORKS INC	PANW	3,268	$557,616	0.10%
128	GE HEALTHCARE TECHNOLOGIES I	GEHC	6,824	$550,771	0.10%
129	NETAPP INC	NTAP	6,267	$550,493	0.10%
130	ADOBE INC	ADBE	1,363	$522,803	0.09%
131	ISHARES TR	464287630	3,439	$519,220	0.09%
132	LOWES COS INC	548661107	2,202	$513,572	0.09%
133	TJX COS INC NEW	872540109	4,202	$511,824	0.09%
134	SCHLUMBERGER LTD	SLB	12,214	$510,545	0.09%
135	STARBUCKS CORP	SBUX	5,145	$504,686	0.09%
136	BLACKSTONE MTG TR INC	BX	24,509	$490,178	0.09%
137	VALERO ENERGY CORP	VLO	3,708	$489,757	0.09%
138	ISHARES TR	464288687	15,751	$484,028	0.09%
139	MPLX LP	MPLXP	9,013	$482,394	0.09%
140	ALLY FINL INC	02005N100	12,670	$462,075	0.08%
141	ANALOG DEVICES INC	ADI	2,249	$453,556	0.08%
142	VANGUARD INDEX FDS	922908553	4,971	$450,074	0.08%
143	AFLAC INC	AFL	4,024	$447,395	0.08%
144	PHILIP MORRIS INTL INC	718172109	2,754	$437,142	0.08%
145	CHUBB LIMITED	CB	1,439	$434,564	0.08%
146	CINTAS CORP	CTAS	2,114	$434,562	0.08%
147	HCA HEALTHCARE INC	HCA	1,243	$429,519	0.08%
148	LINDE PLC	LIN	921	$428,854	0.08%
149	SYNOPSYS INC	SNPS	972	$416,842	0.07%
150	TARGET CORP	TGT	3,992	$416,642	0.07%
151	INVESCO EXCHANGE TRADED FD T	IVZ	6,278	$416,483	0.07%
152	PAN AMERN SILVER CORP	697900108	15,980	$412,763	0.07%
153	EQUINIX INC	EQIX	505	$411,752	0.07%
154	ROPER TECHNOLOGIES INC	ROP	692	$407,989	0.07%
155	VERITEX HLDGS INC	923451108	16,295	$406,886	0.07%
156	SPDR SER TR	78468R812	2,593	$406,299	0.07%
157	ENTERGY CORP NEW	ENO	4,732	$404,531	0.07%
158	ISHARES TR	464288158	3,816	$402,970	0.07%
159	BLACKROCK INC	BLK	424	$401,308	0.07%
160	GOLDMAN SACHS ETF TR	NVGLF	3,612	$397,609	0.07%
161	AMGEN INC	AMGN	1,265	$394,111	0.07%
162	AMERICAN EXPRESS CO	AXP	1,448	$389,584	0.07%
163	HUNTINGTON BANCSHARES INC	HBANP	25,910	$388,909	0.07%
164	NATIONAL BK HLDGS CORP	633707104	10,091	$386,183	0.07%
165	ISHARES TR	464287481	3,180	$373,618	0.07%
166	MCDONALDS CORP	MCD	1,184	$369,963	0.07%
167	WP CAREY INC	92936U109	5,859	$369,761	0.07%
168	YUM BRANDS INC	YUM	2,348	$369,481	0.07%
169	ADVANCED MICRO DEVICES INC	AMD	3,560	$365,754	0.06%
170	3M CO	MMM	2,465	$362,010	0.06%
171	ONEOK INC NEW	OKE	3,458	$343,103	0.06%
172	CARNIVAL CORP	CUKPF	17,479	$341,359	0.06%
173	SPDR INDEX SHS FDS	78463X509	8,568	$337,322	0.06%
174	THERMO FISHER SCIENTIFIC INC	TMO	675	$335,880	0.06%
175	ASTRAZENECA PLC	AZN	4,544	$333,984	0.06%
176	SOUTHWEST AIRLS CO	844741108	9,918	$333,052	0.06%
177	DISNEY WALT CO	254687106	3,371	$332,730	0.06%
178	PUBLIC STORAGE OPER CO	PSA-PS	1,111	$332,511	0.06%
179	CAMDEN PPTY TR	133131102	2,711	$331,555	0.06%
180	ISHARES TR	464287655	1,656	$330,336	0.06%
181	T-MOBILE US INC	TMUSZ	1,233	$328,853	0.06%
182	DIAMONDBACK ENERGY INC	FANG	2,043	$326,640	0.06%
183	VANGUARD WHITEHALL FDS	921946406	2,505	$323,016	0.06%
184	HENRY JACK & ASSOC INC	426281101	1,703	$310,968	0.06%
185	HONDA MOTOR LTD	HNDAF	11,438	$310,313	0.06%
186	ISHARES TR	46432F834	4,437	$309,754	0.05%
187	OCCIDENTAL PETE CORP	674599105	6,272	$309,586	0.05%
188	DIMENSIONAL ETF TRUST	25434V401	5,074	$306,876	0.05%
189	ROLLINS INC	ROL	5,658	$305,702	0.05%
190	VANGUARD MUN BD FDS	922907746	6,112	$303,295	0.05%
191	AVALONBAY CMNTYS INC	AWX	1,402	$300,897	0.05%
192	CISCO SYS INC	CSCO	4,874	$300,775	0.05%
193	PROGRESSIVE CORP	743315103	1,055	$298,576	0.05%
194	INVESCO EXCHANGE TRADED FD T	IVZ	2,549	$297,086	0.05%
195	VENTAS INC	VTR	4,300	$295,668	0.05%
196	ISHARES INC	46434G764	5,342	$294,291	0.05%
197	AON PLC	AON	731	$291,735	0.05%
198	DOMINOS PIZZA INC	DPZ	626	$287,616	0.05%
199	INVESCO EXCHANGE TRADED FD T	IVZ	2,874	$287,343	0.05%
200	MSCI INC	MSCI	507	$286,709	0.05%
201	LOCKHEED MARTIN CORP	LMT	639	$285,448	0.05%
202	VANGUARD INDEX FDS	922908744	1,641	$283,466	0.05%
203	LOEWS CORP	L	3,080	$283,083	0.05%
204	VANGUARD WORLD FD	92204A702	519	$281,569	0.05%
205	BIOHARVEST SCIENCES INC	BHST	44,391	$274,780	0.05%
206	RESMED INC	RSMDF	1,205	$269,739	0.05%
207	EMERSON ELEC CO	EMR	2,449	$268,508	0.05%
208	APTIV PLC	APTV	4,493	$267,334	0.05%
209	WELLTOWER INC	WELL	1,741	$266,739	0.05%
210	VANECK ETF TRUST	92189F643	2,994	$263,472	0.05%
211	PROLOGIS INC.	PLDGP	2,345	$262,148	0.05%
212	PACER FDS TR	69374H881	4,754	$260,329	0.05%
213	SCHWAB STRATEGIC TR	808524805	13,137	$259,849	0.05%
214	HESS CORP	HESM	1,625	$259,561	0.05%
215	SSGA ACTIVE ETF TR	78467V848	6,365	$256,446	0.05%
216	AMERICAN WTR WKS CO INC NEW	030420103	1,734	$255,800	0.05%
217	QUEST DIAGNOSTICS INC	DGX	1,488	$251,770	0.04%
218	INTUIT	INTU	409	$251,122	0.04%
219	SPDR GOLD TR	GLD	866	$249,529	0.04%
220	AMERICAN TOWER CORP NEW	03027X100	1,145	$249,152	0.04%
221	NUCOR CORP	NUE	2,060	$247,900	0.04%
222	NOVO-NORDISK A S	NONOF	3,500	$243,040	0.04%
223	SERVICENOW INC	NOW	301	$239,638	0.04%
224	VANGUARD SPECIALIZED FUNDS	921908844	1,207	$234,203	0.04%
225	NETFLIX INC	NFLX	240	$223,889	0.04%
226	ISHARES TR	464287507	3,825	$223,189	0.04%
227	APPLIED MATLS INC	038222105	1,530	$222,034	0.04%
228	EURONET WORLDWIDE INC	EEFT	2,075	$221,714	0.04%
229	INTERCONTINENTAL EXCHANGE IN	45866F104	1,281	$220,973	0.04%
230	TAKE-TWO INTERACTIVE SOFTWAR	TTWO	1,065	$220,721	0.04%
231	QUANTA SVCS INC	74762E102	850	$216,165	0.04%
232	ARISTA NETWORKS INC	ANET	2,725	$211,117	0.04%
233	ALLEGION PLC	ALLE	1,605	$209,388	0.04%
234	CROWN CASTLE INC	CCI	2,006	$209,085	0.04%
235	ECOLAB INC	ECL	816	$206,872	0.04%
236	DANAHER CORPORATION	235851102	1,006	$206,230	0.04%
237	SPDR SER TR	78464A847	3,999	$204,669	0.04%
238	SYSCO CORP	SYY	2,718	$203,959	0.04%
239	EOG RES INC	EOG	1,588	$203,645	0.04%
240	ARES CAPITAL CORP	ARCC	9,143	$202,609	0.04%
241	POOL CORP	POOL	635	$202,152	0.04%
242	VANGUARD INDEX FDS	922908736	544	$201,726	0.04%
243	NORTHERN DYNASTY MINERALS LT	66510M204	52,750	$60,663	0.01%