True North Advisors, LLC

Q3 2025 13F-HR Holdings

Location
Dallas, TX
Holdings as of
9/30/2025
Date filed
10/14/2025
Form type
13F-HR
Num holdings
215
Total value ($000)
$629,953
Net value change ($000)
+108,163 (20.7%)
New positions
35
Sold out positions
43
Turnover %
17.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 7/16/2025 Next filing: 1/22/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
AAPL 54,771 239.8%
AMZN 24,737 431.7%
SPY 22,129 613.2%
NVDA 18,719 359.4%
META 13,491 396.2%
BAC 10,494 322.0%
AVDV 7,818 NEW
MSFT 7,784 59.2%
IAU 6,883 1018.2%
AVGO 2,860 31.4%
Top Reduces (Value $000, Stocks/ETFs)
VB -15,902 -100.0%
JMBS -12,131 -100.0%
LII -10,010 -9.6%
MUNI -7,280 -100.0%
CORP -7,152 -100.0%
SCHX -5,933 -100.0%
VTI -4,002 -100.0%
NUV -3,588 -100.0%
FNDX -3,503 -100.0%
SCHM -2,748 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type