TrueNorth

TrueNorth as of March 31, 2012

Portfolio Holdings for TrueNorth

TrueNorth holds 156 positions in its portfolio as reported in the March 2012 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
iShares IBoxx $ Invest Grade Corp Bd (LQD) 7.5 $14M 119k 115.63
iShares S&P US Pref Stock Idx Fnd (PFF) 4.9 $9.0M 231k 39.04
Apple Computer 4.2 $7.6M 13k 599.59
Vanguard Emerging Markets ETF (VWO) 2.6 $4.8M 110k 43.47
Exxon Mobil Corporation (XOM) 2.6 $4.7M 55k 86.72
SPDR S&P MidCap 400 ETF (MDY) 2.5 $4.6M 278k 16.64
Vanguard FTSE All-World ex-US ETF (VEU) 2.2 $4.0M 91k 44.22
iShares Dow Jones Select Dividend (DVY) 2.2 $4.0M 71k 55.96
iShares S&P SmallCap 600 Index (IJR) 2.1 $3.9M 51k 76.32
iShares Russell 3000 Index (IWV) 2.1 $3.8M 46k 83.28
iShares MSCI Brazil Index (EWZ) 2.1 $3.8M 58k 64.66
Energy Select Sector SPDR (XLE) 2.0 $3.7M 51k 71.75
International Business Machines (IBM) 1.7 $3.2M 15k 208.64
iShares Cohen & Steers Realty Maj. (ICF) 1.7 $3.2M 41k 76.64
Starbucks Corporation (SBUX) 1.7 $3.1M 55k 55.89
Bk Of America Corp 1.6 $2.9M 302k 9.57
V.F. Corporation (VFC) 1.5 $2.8M 19k 145.96
Tupperware Brands Corporation (TUP) 1.4 $2.7M 42k 63.50
TJX Companies (TJX) 1.3 $2.4M 59k 39.72
McDonald's Corporation (MCD) 1.3 $2.3M 24k 98.09
Nike (NKE) 1.3 $2.3M 22k 108.45
Honeywell International (HON) 1.3 $2.3M 38k 61.06
iShares Russell 2000 Growth Index (IWO) 1.2 $2.2M 24k 95.38
Chubb Corporation 1.1 $1.9M 28k 69.11
SPDR KBW Regional Banking (KRE) 1.0 $1.8M 64k 28.46
CSX Corporation (CSX) 0.9 $1.7M 80k 21.52
Bristol Myers Squibb (BMY) 0.9 $1.7M 51k 33.74
SPDR S&P Homebuilders (XHB) 0.9 $1.7M 79k 21.35
3M Company (MMM) 0.9 $1.7M 19k 89.21
Travelers Companies (TRV) 0.9 $1.6M 28k 59.19
United Technologies Corporation 0.8 $1.5M 19k 82.96
Procter & Gamble Company (PG) 0.8 $1.5M 22k 67.22
D Automatic Data Proce Ssing Inc Common Stock 0 0.8 $1.5M 27k 55.18
Pfizer (PFE) 0.8 $1.4M 63k 22.64
Rogers Communications -cl B (RCI) 0.8 $1.4M 36k 39.70
Herbalife Ltd Com Stk (HLF) 0.7 $1.3M 19k 68.81
BECTON DICKINSON & CO Com Stk 0.7 $1.3M 17k 77.67
CF Industries Holdings (CF) 0.7 $1.3M 7.0k 182.58
SPDR S&P Retail (XRT) 0.7 $1.3M 21k 61.23
iShares iBoxx $ High Yid Corp Bond (HYG) 0.7 $1.2M 14k 90.73
Apache Corp Com Stk 0.7 $1.2M 12k 100.40
MasterCard Incorporated (MA) 0.7 $1.2M 2.8k 420.37
Chevron Corporation (CVX) 0.6 $1.1M 11k 107.18
Pepsi (PEP) 0.6 $1.1M 17k 66.35
Wynn Resorts (WYNN) 0.6 $1.1M 9.1k 124.88
Nextera Energy (NEE) 0.6 $1.1M 18k 61.08
Continental Resources 0.6 $1.1M 13k 85.80
Celgene Corporation 0.6 $1.1M 14k 77.54
Core Laboratories 0.6 $1.1M 8.0k 131.56
Qualcomm (QCOM) 0.6 $1.1M 16k 68.07
Google 0.5 $994k 1.6k 641.29
JPMorgan Chase & Co. (JPM) 0.5 $963k 21k 45.99
Invesco Van Kampen Senior Income Trust (VVR) 0.5 $959k 195k 4.91
iShares Lehman MBS Bond Fund (MBB) 0.5 $950k 8.8k 107.95
UMB Financial Corporation (UMBF) 0.5 $921k 21k 44.71
Eaton Vance Limited Duration Income Fund (EVV) 0.5 $913k 57k 16.05
Market Vectors Brazil Small Cap ETF 0.5 $849k 19k 43.92
1/100 Berkshire Htwy Cl A 0.5 $853k 700.00 1218.57
UnitedHealth (UNH) 0.5 $842k 14k 58.96
SPDR S&P Biotech (XBI) 0.5 $847k 11k 80.44
Cerner Corporation 0.4 $806k 11k 76.18
PowerShares Fin. Preferred Port. 0.4 $811k 45k 17.90
At&t (T) 0.4 $780k 25k 31.23
Perrigo Company 0.4 $792k 7.7k 103.26
Biogen Idec (BIIB) 0.4 $770k 6.1k 125.92
Microsoft Corporation (MSFT) 0.4 $718k 22k 32.28
Intel Corporation (INTC) 0.4 $709k 25k 28.13
priceline.com Incorporated 0.4 $720k 1.0k 717.85
Deere & Company (DE) 0.4 $701k 8.7k 80.87
Rayonier (RYN) 0.4 $699k 16k 44.07
NewMarket Corporation (NEU) 0.4 $661k 3.5k 187.52
Cliffs Natural Resources 0.4 $661k 9.5k 69.29
Kansas City Southern 0.4 $655k 9.1k 71.74
Clean Harbors (CLH) 0.3 $632k 9.4k 67.38
VMware 0.3 $632k 5.6k 112.46
Tortoise Energy Infrastructure 0.3 $636k 15k 41.19
Church & Dwight (CHD) 0.3 $599k 12k 49.22
PowerShares High Yld. Dividend Achv 0.3 $607k 64k 9.42
WisdomTree Emerging Markets Eq (DEM) 0.3 $611k 11k 57.61
Wstrn Ast Clymr Infltn Lkd Opts & Inc (WIW) 0.3 $595k 47k 12.80
Northrop Grumman Corporation (NOC) 0.3 $581k 9.5k 61.12
CHECK POINT SOFTWARE Technolog Com Stk (CHKP) 0.3 $580k 9.1k 63.84
Berkshire Hath-cl B 0.3 $586k 7.2k 81.14
Randgold Resources 0.3 $566k 6.4k 88.02
Valeant Pharmaceuticals Int 0.3 $574k 11k 53.64
BlackRock Ltd. Duration Income Trust (BLW) 0.3 $573k 32k 17.75
Annaly C 0.3 $561k 36k 15.81
Borgwarner 0.3 $551k 6.5k 84.38
Oracle Corporation (ORCL) 0.3 $521k 18k 29.16
Fiduciary/Claymore MLP Opportunity Fund 0.3 $529k 23k 22.65
Panera Bread Company 0.3 $517k 3.2k 160.81
Joy Global 0.3 $494k 6.7k 73.45
AMERICAN TOWER CORPORATION Cmn Class A 0.3 $487k 7.7k 63.00
USD.001 Atlas Energy Lp ltd part 0.3 $497k 15k 33.00
Concho Resources 0.3 $477k 4.7k 102.14
Oge Energy Corp (OGE) 0.2 $455k 8.5k 53.53
Putnam Premier Income Trust (PPT) 0.2 $437k 79k 5.51
Blackrock Defined Opprty Cr 0.2 $435k 33k 13.40
Boeing 0.2 $412k 5.5k 74.33
Abbott Laboratories 0.2 $425k 6.9k 61.23
Seaboard Corporation (SEB) 0.2 $408k 209.00 1952.15
Windstream Corporation 0.2 $376k 32k 11.72
SandRidge Energy 0.2 $392k 50k 7.84
Genesis Energy (GEL) 0.2 $368k 12k 30.72
Verizon Communications (VZ) 0.2 $349k 9.1k 38.24
Dcp Midstream Partners 0.2 $344k 7.5k 45.87
First Trust/Four Corners SFRI Fund II (FCT) 0.2 $346k 23k 14.99
General Electric Company 0.2 $328k 16k 20.05
Targa Resources Partners 0.2 $329k 7.9k 41.43
Oneok Partners 0.2 $330k 6.0k 54.64
Plains All American Pipeline (PAA) 0.2 $334k 4.3k 78.40
iShares MSCI South Africa Index (EZA) 0.2 $327k 4.8k 68.84
Calamos Convertible & Hi Income Fund (CHY) 0.2 $334k 26k 12.74
EMC Corporation 0.2 $318k 11k 29.86
Western Gas Partners 0.2 $304k 6.6k 46.20
iShares MSCI Malaysia Index Fund 0.2 $304k 21k 14.60
Eaton Vance Short Duration Diversified I (EVG) 0.2 $308k 18k 17.06
Eaton Vance Senior Income Trust (EVF) 0.2 $303k 42k 7.21
Nuveen Floating Rate Income Fund (JFR) 0.2 $307k 26k 11.92
BlackRock Senior High Income Fund 0.2 $311k 76k 4.12
Zions Bancorporation (ZION) 0.2 $283k 13k 21.43
El Paso Pipeline Partners 0.2 $301k 8.6k 34.84
Energy Transfer Partners 0.2 $287k 6.1k 46.97
Eaton Vance Senior Floating Rate Fund (EFR) 0.2 $291k 19k 15.25
Blackrock Fl Rate Ome Stra I 0.2 $300k 22k 13.96
LMP Corporate Loan Fund 0.2 $297k 25k 11.92
Pimco Income Strategy Fund II (PFN) 0.2 $292k 29k 10.17
Boardwalk Pipeline 0.2 $288k 11k 26.49
Cognizant Technology Solutions (CTSH) 0.1 $275k 3.6k 76.92
CenturyLink 0.1 $265k 6.8k 38.71
Computer Sciences Corporation 0.1 $280k 9.4k 29.91
ConocoPhillips (COP) 0.1 $281k 3.7k 76.07
Vodafone 0.1 $280k 10k 27.65
Pimco Municipal Income Fund (PMF) 0.1 $276k 19k 14.53
Wells Fargo Adv Multi-Sector Inco Fund (ERC) 0.1 $273k 18k 15.12
Agco Corp Com Usd0.01 0.1 $268k 5.7k 47.22
Western Asset Vrble Rate Strtgc Fnd 0.1 $260k 16k 16.64
Atlas Pipeline Partners Lp unit l p int 0 0.1 $261k 7.4k 35.32
SYSCO Corporation (SYY) 0.1 $236k 7.9k 29.85
Exelon Corporation (EXC) 0.1 $235k 6.0k 39.17
Freeport-McMoRan Copper & Gold (FCX) 0.1 $242k 6.4k 37.99
Inergy 0.1 $238k 15k 16.39
Johnson & Johnson (JNJ) 0.1 $223k 3.4k 65.84
FirstEnergy (FE) 0.1 $228k 5.0k 45.60
MarkWest Energy Partners 0.1 $224k 3.8k 58.33
Kinder Morgan Management 0.1 $203k 2.7k 74.65
Novartis (NVS) 0.1 $203k 3.7k 55.31
Hatteras Financial 0.1 $203k 7.3k 27.94
Advent Claymore Convertible Sec & Inc (AVK) 0.1 $205k 13k 16.33
BlackRock Floating Rate Income Strat. Fn (FRA) 0.1 $209k 14k 14.80
Cambrex Corporation 0.1 $177k 25k 6.99
Frontier Communications 0.1 $139k 33k 4.16
Northstar Realty Finance 0.1 $134k 25k 5.40
Two Harbors Investment 0.1 $101k 10k 10.10
Chimera Investment Corporation 0.0 $78k 28k 2.81
Sprint Nextel Corporation 0.0 $29k 10k 2.90