TrueNorth

TrueNorth as of March 31, 2011

Portfolio Holdings for TrueNorth

TrueNorth holds 145 positions in its portfolio as reported in the March 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
iShares S&P US Pref Stock Idx Fnd (PFF) 4.8 $7.9M 200k 39.65
Energy Select Sector SPDR (XLE) 4.6 $7.6M 96k 79.75
iShares MSCI Germany Index Fund (EWG) 3.9 $6.3M 244k 25.95
Apple Computer 3.6 $6.0M 17k 348.48
iShares Russell 2000 Growth Index (IWO) 2.9 $4.7M 50k 95.35
Midcap Spdr Trust Series 1 untsr1 2.8 $4.6M 26k 179.53
SPDR KBW Bank (KBE) 2.5 $4.1M 160k 25.82
Exxon Mobil Corporation (XOM) 2.1 $3.4M 41k 84.13
SPDR S&P Metals and Mining (XME) 1.7 $2.8M 38k 74.29
iShares Cohen & Steers Realty Maj. (ICF) 1.6 $2.7M 38k 70.14
International Business Machines (IBM) 1.6 $2.7M 17k 163.09
iShares Russell 3000 Index (IWV) 1.5 $2.5M 32k 79.27
Honeywell International (HON) 1.4 $2.4M 40k 59.70
iShares MSCI Canada Index (EWC) 1.4 $2.3M 69k 33.61
Apache Corp Com Stk 1.4 $2.3M 17k 130.93
CSX Corporation (CSX) 1.4 $2.3M 29k 78.59
Berkshire Hath-cl B 1.4 $2.2M 27k 83.63
V.F. Corporation (VFC) 1.4 $2.2M 23k 98.54
3M Company (MMM) 1.2 $2.0M 22k 93.49
General Dynamics Corporation (GD) 1.2 $2.0M 26k 76.57
McDonald's Corporation (MCD) 1.2 $2.0M 26k 76.07
Hess (HES) 1.2 $1.9M 23k 85.22
Harris Corporation 1.2 $1.9M 39k 49.61
Travelers Companies (TRV) 1.1 $1.9M 31k 59.50
Nike (NKE) 1.1 $1.8M 24k 75.72
Starbucks Corporation (SBUX) 1.1 $1.8M 49k 36.96
iShares Russell 1000 Index (IWB) 1.1 $1.8M 25k 73.88
Wells Fargo & Company (WFC) 1.1 $1.8M 56k 31.71
United Technologies Corporation 1.1 $1.7M 21k 84.64
Deere & Company (DE) 1.1 $1.7M 18k 96.91
Chubb Corporation 1.0 $1.7M 28k 61.32
TJX Companies (TJX) 1.0 $1.7M 34k 49.74
Caterpillar (CAT) 1.0 $1.7M 15k 111.35
Procter & Gamble Company (PG) 1.0 $1.7M 27k 61.62
Teva Pharmaceutical Industries (TEVA) 1.0 $1.6M 33k 50.17
D Automatic Data Proce Ssing Inc Common Stock 0 0.9 $1.5M 30k 51.31
Oracle Corporation (ORCL) 0.9 $1.5M 46k 33.44
SPDR S&P Oil & Gas Explore & Prod. 0.9 $1.5M 24k 64.40
Rogers Communications -cl B (RCI) 0.9 $1.5M 41k 36.40
Core Laboratories 0.9 $1.4M 14k 102.18
Bristol Myers Squibb (BMY) 0.9 $1.4M 54k 26.44
Lubrizol Corporation 0.8 $1.4M 10k 134.00
NextEra Energy 0.8 $1.4M 25k 55.10
Union Pacific Corporation (UNP) 0.8 $1.3M 14k 98.33
Google 0.8 $1.3M 2.2k 586.72
Hewlett-Packard Company 0.8 $1.3M 31k 40.96
Pfizer (PFE) 0.7 $1.2M 57k 20.32
Pepsi (PEP) 0.7 $1.1M 18k 64.41
Joy Global 0.7 $1.1M 11k 98.82
Noble Corporation Com Stk 0.7 $1.1M 24k 45.60
Baidu.com 0.7 $1.1M 7.9k 137.82
Canadian Natural Resources (CNQ) 0.6 $1.1M 21k 49.44
Kansas City Southern 0.6 $1.1M 19k 54.43
iShares Barclays TIPS Bond Fund (TIP) 0.6 $1.0M 94k 10.92
Verizon Communications (VZ) 0.6 $987k 26k 38.56
Southwestern Energy Company 0.6 $969k 23k 42.95
CHECK POINT SOFTWARE Technolog Com Stk (CHKP) 0.6 $978k 19k 51.07
iShares Lehman MBS Bond Fund (MBB) 0.6 $927k 8.8k 105.34
EMC Corporation 0.6 $901k 34k 26.56
AMERICAN TOWER CORPORATION Cmn Class A 0.6 $899k 17k 51.85
Blackrock Defined Opprty Cr 0.5 $881k 59k 14.95
Bk Of America Corp 0.5 $869k 65k 13.33
JPMorgan Chase & Co. (JPM) 0.5 $862k 19k 46.10
UnitedHealth (UNH) 0.5 $849k 19k 45.18
Annaly C 0.5 $833k 48k 17.45
PowerShares Fin. Preferred Port. 0.5 $822k 45k 18.14
Panera Bread Company 0.5 $808k 6.4k 126.94
Northrop Grumman Corporation (NOC) 0.5 $786k 13k 62.73
Texas Instruments Incorporated (TXN) 0.5 $796k 23k 34.99
Technology SPDR (XLK) 0.5 $794k 31k 26.08
Freeport-McMoRan Copper & Gold (FCX) 0.5 $768k 14k 55.53
Putnam Premier Income Trust (PPT) 0.5 $770k 119k 6.48
Whiting Petroleum Corporation 0.5 $742k 10k 73.47
Borgwarner 0.4 $727k 9.1k 79.71
Perrigo Company 0.4 $685k 8.6k 79.47
UMB Financial Corporation (UMBF) 0.4 $673k 18k 37.39
BlackRock Ltd. Duration Income Trust (BLW) 0.4 $676k 39k 17.32
Invesco Mortgage Capital 0.4 $617k 28k 21.84
Illumina (ILMN) 0.4 $610k 8.7k 70.11
Herbalife Ltd Com Stk (HLF) 0.4 $591k 7.3k 81.40
Intuit (INTU) 0.4 $599k 11k 53.10
SPDR Barclays Capital High Yield B 0.3 $574k 14k 40.54
BlackRock Senior High Income Fund 0.3 $573k 139k 4.13
At&t (T) 0.3 $485k 16k 30.61
Deckers Outdoor Corporation (DECK) 0.3 $449k 5.2k 86.10
Invesco Van Kampen Senior Income Trust (VVR) 0.3 $436k 85k 5.13
Oge Energy Corp (OGE) 0.3 $430k 8.5k 50.59
Celgene Corporation 0.3 $435k 7.6k 57.62
Chevron Corporation (CVX) 0.2 $390k 3.6k 107.50
Invesco Vk Dynamic Credit Oppo 0.2 $397k 30k 13.17
iShares iBoxx $ High Yid Corp Bond (HYG) 0.2 $371k 4.0k 92.06
Oneok Partners 0.2 $359k 4.4k 82.34
ING Prime Rate Trust 0.2 $355k 59k 6.02
Eaton Vance Limited Duration Income Fund (EVV) 0.2 $364k 23k 16.00
Microsoft Corporation (MSFT) 0.2 $341k 13k 25.39
Seaboard Corporation (SEB) 0.2 $347k 144.00 2409.72
Chimera Investment Corporation 0.2 $342k 86k 3.96
Frontier Communications 0.2 $332k 40k 8.22
iShares MSCI Brazil Index (EWZ) 0.2 $333k 4.3k 77.44
Silver Wheaton Corp 0.2 $322k 7.4k 43.34
General Electric Company 0.2 $316k 16k 20.06
Windstream Corporation 0.2 $306k 24k 12.88
Holly Energy Partners 0.2 $315k 5.4k 57.96
Boeing 0.2 $295k 4.0k 73.97
Dcp Midstream Partners 0.2 $294k 7.3k 40.44
Targa Resources Partners 0.2 $292k 8.4k 34.64
First Trust/Four Corners SFRI Fund II (FCT) 0.2 $293k 20k 14.87
Johnson & Johnson (JNJ) 0.2 $287k 4.8k 59.33
Abbott Laboratories 0.2 $285k 5.8k 49.08
Genesis Energy (GEL) 0.2 $286k 10k 28.32
Sunoco Logistics Partners 0.2 $280k 3.2k 86.82
Cypress Sharpridge Investments 0.2 $279k 22k 12.68
Tortoise Energy Infrastructure 0.2 $287k 7.2k 40.14
iShares MSCI Emerging Markets Indx (EEM) 0.2 $257k 5.3k 48.67
Western Gas Partners 0.2 $256k 7.3k 34.92
Eaton Vance Short Duration Diversified I (EVG) 0.2 $257k 15k 16.94
BlackRock Floating Rate Income Strat. Fn (FRA) 0.2 $261k 17k 15.63
LMP Corporate Loan Fund 0.2 $268k 22k 12.45
Nuveen Floating Rate Income Fund (JFR) 0.2 $266k 22k 12.31
Western Asset Vrble Rate Strtgc Fnd 0.2 $264k 16k 16.90
Cephalon 0.1 $241k 3.2k 76.03
Stryker Corporation (SYK) 0.1 $241k 4.0k 60.74
Exelon Corporation (EXC) 0.1 $252k 6.1k 41.31
MarkWest Energy Partners 0.1 $245k 5.0k 48.56
Copano Energy 0.1 $241k 6.8k 35.55
Blackrock Fl Rate Ome Stra I 0.1 $254k 18k 14.11
Boardwalk Pipeline 0.1 $251k 7.7k 32.66
1/100 Berkshire Htwy Cl A 0.1 $251k 200.00 1255.00
Kinder Morgan Management 0.1 $238k 3.6k 65.61
ConocoPhillips (COP) 0.1 $237k 3.0k 80.01
Enbridge Energy Partners 0.1 $230k 3.6k 64.70
Plains All American Pipeline (PAA) 0.1 $225k 3.5k 63.74
iShares MSCI Malaysia Index Fund 0.1 $229k 16k 14.78
Franklin Templeton (FTF) 0.1 $238k 18k 13.11
Eaton Vance Senior Income Trust (EVF) 0.1 $223k 31k 7.28
Wells Fargo Adv Multi-Sector Inco Fund (ERC) 0.1 $224k 15k 15.10
Genuine Parts Company (GPC) 0.1 $222k 4.1k 53.75
Enterprise Products Partners (EPD) 0.1 $208k 4.8k 43.06
BECTON DICKINSON & CO Com Stk 0.1 $218k 2.7k 79.56
iShares MSCI South Africa Index (EZA) 0.1 $206k 2.8k 72.79
Energy Transfer Partners 0.1 $202k 3.9k 51.79
DWS Multi Market Income Trust (KMM) 0.1 $175k 17k 10.63
First Trust Strgy. High Income Fund II (FHY) 0.1 $175k 36k 4.93
Nuveen Fltng Rte Incm Opp 0.1 $159k 13k 12.29
Nuveen Mult Curr St Gv Incm 0.1 $167k 12k 13.97