True North Advisors, LLC is an SEC-registered investment adviser based in Dallas, TX that reports managing 5 hedge funds on Form ADV. It reports $5.4 billion in regulatory assets under management. Its private funds, of all types, hold $1.1 billion in gross assets. Its disclosed U.S. stock holdings returned an estimated +9.7% 2026 YTD through Jun 30 (S&P 500: +9.5%), based on 13F filings. Over a longer period they returned an estimated +25.7% from Q3 2024 to Q2 2026, compared with +37.2% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $5.4 billionForm ADV Item 5.F
- Gross assets of private funds
- $1.1 billionAll private fund types, Form ADV
- Hedge funds managed
- 534 private funds in total
- Employees
- 89Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 116048
- Latest Form ADV
- 07/16/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q2 2026 | +11.7% | +14.8% |
| Q1 2026 | -1.7% | -4.6% |
| Q4 2025 | -0.4% | +2.4% |
| Q3 2025 | +3.2% | +7.8% |
| Q2 2025 | +3.8% | +10.4% |
| Q1 2025 | -1.5% | -4.5% |
| Q4 2024 | +1.1% | +2.1% |
| Q3 2024 | +7.9% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Largest disclosed holdings
- Lennox Intl Inc$92.3 million
- Apple Inc Com$86.9 million
- Chwab Fundamental U.S. Larg$66.6 million
- Avantis Intl SM Cap Eq ETF$33.8 million
- Alphabet, Inc Voting Class$32.8 million
- Amazon Com Inc Com$31.6 million
- SPDR S&P 500 ETF TR$31.1 million
- Nvidia Corp$27.6 million
- Berkshire Hathaway Inc Del CL B New$24.6 million
- Vanguard Ftse Developed Markets ETF$22.5 million
As of 2026-06-30, from 13F filing by True North Advisors, LLC.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. HedgeMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures