True North Advisors, LLC

Portfolio Overview

True North Advisors reported a total 13F portfolio value of $773.54 million as of 2025-12-31 across 250 reported holdings. This represents a very large quarter-over-quarter increase of +281.2% (from $202.94M on 2025-09-30 to $773.54M). The portfolio exhibits a mix of concentrated large positions and a meaningful passive/ETF sleeve: the top 10 holdings represent roughly 46.4% of the portfolio, while reported ETFs total $172.41M or about 22.3% of assets. The combination of (1)...