Summit Asset Management 13F annual report
Summit Asset Management is an investment fund managing more than $481 billion ran by Lance Hollingsworth. There are currently 116 companies in Mr. Hollingsworth’s portfolio. The largest investments include Schwab Strategic Tr and VanEck ETF Trust, together worth $211 billion.
$481 billion Assets Under Management (AUM)
As of 29th July 2024, Summit Asset Management’s top holding is 3,235,697 shares of Schwab Strategic Tr currently worth over $182 billion and making up 37.7% of the portfolio value.
In addition, the fund holds 334,085 shares of VanEck ETF Trust worth $28.9 billion, whose value grew 14.1% in the past six months.
The third-largest holding is Wisdomtree Tr worth $19.3 billion and the next is Ishares Tr worth $101 billion, with 2,327,145 shares owned.
Currently, Summit Asset Management's portfolio is worth at least $481 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Summit Asset Management
The Summit Asset Management office and employees reside in Memphis, Tennessee. According to the last 13-F report filed with the SEC, Lance Hollingsworth serves as the Chief Investment Officer at Summit Asset Management.
Recent trades
In the most recent 13F filing, Summit Asset Management revealed that it had opened a new position in
Victory Portfolios II and bought 11,260 shares worth $348 million.
This means they effectively own approximately 0.1% of the company.
The investment fund also strengthened its position in Schwab Strategic Tr by buying
122,775 additional shares.
This makes their stake in Schwab Strategic Tr total 3,235,697 shares worth $182 billion.
On the other hand, there are companies that Summit Asset Management is getting rid of from its portfolio.
Summit Asset Management closed its position in Disney Walt Co on 5th August 2024.
It sold the previously owned 2,700 shares for $330 million.
Lance Hollingsworth also disclosed a decreased stake in Spdr Dow Jones Indl Average by approximately 0.1%.
This leaves the value of the investment at $5.32 billion and 13,603 shares.
One of the average hedge funds
The two most similar investment funds to Summit Asset Management are Smithbridge Asset Management Inc/de and Gagnon Securities. They manage $481 billion and $481 billion respectively.
Lance Hollingsworth investment strategy
Summit Asset Management’s portfolio is diversified across 12 sectors.
Currently, their heaviest sector is Miscellaneous — making up 6.2% of
the total portfolio value.
The fund focuses on investments in the United States as
48.3% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
46% of the total holdings value.
On the other hand, small-cap stocks make up only 4.3% of the portfolio.
The average market cap of the portfolio companies is close to $240 billion.
The complete list of Summit Asset Management trades based on 13F SEC filings
These positions were updated on August 5th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Schwab Strategic Tr |
3.94%
3,235,697
|
$181,672,016,000 | 37.75% |
| VanEck ETF Trust |
6.53%
334,085
|
$28,935,095,000 | 6.01% |
| Wisdomtree Tr |
4.48%
422,497
|
$19,261,640,000 | 4.00% |
| Ishares Tr |
2.28%
2,327,145
|
$100,918,780,000 | 20.97% |
| Berkshire Hathaway Inc. |
1.80%
36,645
|
$18,336,552,000 | 3.81% |
| Apple Inc |
2.60%
44,569
|
$9,387,225,000 | 1.95% |
| Autozone Inc. |
0.78%
2,584
|
$7,659,234,000 | 1.59% |
| Microsoft Corporation |
5.11%
16,024
|
$7,161,915,000 | 1.49% |
| NVIDIA Corp |
916.42%
57,306
|
$7,079,633,000 | 1.47% |
| Spdr Dow Jones Indl Average |
1.18%
13,603
|
$5,320,541,000 | 1.11% |
| Idexx Labs Inc |
No change
7,835
|
$3,817,212,000 | 0.79% |
| Amazon.com Inc. |
7.92%
19,552
|
$3,778,424,000 | 0.79% |
| Procter And Gamble Co |
0.31%
22,711
|
$3,745,548,000 | 0.78% |
| Walmart Inc |
0.92%
51,102
|
$3,460,107,000 | 0.72% |
| Vanguard Intl Equity Index F |
8.68%
46,506
|
$3,105,231,000 | 0.65% |
| Exxon Mobil Corp. |
3.11%
25,303
|
$2,912,883,000 | 0.61% |
| Fedex Corp |
2.45%
8,389
|
$2,515,352,000 | 0.52% |
| T Rowe Price Etf Inc |
4.19%
60,083
|
$2,326,414,000 | 0.48% |
| Johnson & Johnson |
4.07%
15,176
|
$2,218,076,000 | 0.46% |
| Ssga Active Etf Tr |
3.81%
51,968
|
$2,064,169,000 | 0.43% |
| Spdr S&p 500 Etf Tr |
2.88%
3,340
|
$1,817,421,000 | 0.38% |
| Union Pac Corp |
0.07%
7,695
|
$1,741,133,000 | 0.36% |
| Home Depot, Inc. |
32.43%
4,941
|
$1,700,890,000 | 0.35% |
| Dbx Etf Tr |
0.66%
39,080
|
$1,624,556,000 | 0.34% |
| Tjx Cos Inc New |
No change
14,292
|
$1,573,549,000 | 0.33% |
| JPMorgan Chase & Co. |
29.13%
7,758
|
$1,569,133,000 | 0.33% |
| Alphabet Inc |
2.17%
10,800
|
$1,977,898,000 | 0.41% |
| Visa Inc |
No change
5,615
|
$1,473,791,000 | 0.31% |
| Coca-Cola Co |
0.26%
22,340
|
$1,421,916,000 | 0.30% |
| Pepsico Inc |
5.84%
7,552
|
$1,245,578,000 | 0.26% |
| Vanguard Index Fds |
0.04%
11,172
|
$2,899,176,000 | 0.60% |
| Progressive Corp. |
No change
5,895
|
$1,224,450,000 | 0.25% |
| Eli Lilly & Co |
No change
1,328
|
$1,202,345,000 | 0.25% |
| Emerson Elec Co |
27.09%
10,327
|
$1,137,622,000 | 0.24% |
| Costco Whsl Corp New |
1.01%
1,304
|
$1,108,254,000 | 0.23% |
| Tractor Supply Co. |
No change
4,090
|
$1,104,300,000 | 0.23% |
| Bank America Corp |
26.63%
26,634
|
$1,059,233,000 | 0.22% |
| Mid-amer Apt Cmntys Inc |
0.05%
7,377
|
$1,052,045,000 | 0.22% |
| Vanguard Admiral Fds Inc |
No change
10,575
|
$1,841,740,000 | 0.38% |
| Expeditors Intl Wash Inc |
No change
8,010
|
$999,568,000 | 0.21% |
| International Business Machs |
4.15%
5,769
|
$997,724,000 | 0.21% |
| Schwab Charles Corp |
1.88%
13,514
|
$995,847,000 | 0.21% |
| NextEra Energy Inc |
0.04%
13,944
|
$987,400,000 | 0.21% |
| Honeywell International Inc |
39.25%
4,470
|
$954,524,000 | 0.20% |
| Johnson Ctls Intl Plc |
23.48%
14,200
|
$943,874,000 | 0.20% |
| RTX Corp |
38.17%
8,688
|
$872,188,000 | 0.18% |
| Deere & Co. |
44.86%
2,325
|
$868,690,000 | 0.18% |
| AT&T Inc. |
4.74%
45,230
|
$864,354,000 | 0.18% |
| Dimensional Etf Trust |
0.14%
28,409
|
$1,505,068,000 | 0.31% |
| Abbvie Inc |
1.71%
4,825
|
$827,526,000 | 0.17% |
| Merck & Co Inc |
19.18%
6,568
|
$813,118,000 | 0.17% |
| Rockwell Automation Inc |
67.75%
2,674
|
$736,099,000 | 0.15% |
| Pinnacle Finl Partners Inc |
No change
8,819
|
$705,878,000 | 0.15% |
| Harbor ETF Trust |
161.68%
25,370
|
$701,734,000 | 0.15% |
| Pacer Fds Tr |
11.99%
12,515
|
$681,942,000 | 0.14% |
| Vanguard Bd Index Fds |
No change
12,830
|
$635,342,000 | 0.13% |
| Chevron Corp. |
3.34%
3,906
|
$611,029,000 | 0.13% |
| Invesco Exchange Traded Fd T |
No change
13,315
|
$609,161,000 | 0.13% |
| Pfizer Inc. |
2.62%
21,365
|
$597,806,000 | 0.12% |
| Verizon Communications Inc |
4.81%
14,173
|
$584,495,000 | 0.12% |
| Cnh Indl N V |
60.00%
56,000
|
$567,280,000 | 0.12% |
| Pimco Etf Tr |
6.02%
5,463
|
$549,851,000 | 0.11% |
| Mastercard Incorporated |
16.43%
1,240
|
$547,038,000 | 0.11% |
| Fastenal Co. |
No change
8,688
|
$545,954,000 | 0.11% |
| Vanguard Star Fds |
No change
8,801
|
$530,708,000 | 0.11% |
| Canadian Pacific Kansas City |
13.55%
6,706
|
$527,963,000 | 0.11% |
| Oreilly Automotive Inc |
No change
496
|
$523,806,000 | 0.11% |
| Globe Life Inc |
0.05%
6,269
|
$515,809,000 | 0.11% |
| United Parcel Service, Inc. |
No change
3,727
|
$510,040,000 | 0.11% |
| Public Storage Oper Co |
No change
1,720
|
$494,758,000 | 0.10% |
| Oracle Corp. |
No change
3,204
|
$452,405,000 | 0.09% |
| General Dynamics Corp. |
No change
1,543
|
$447,686,000 | 0.09% |
| The Southern Co. |
0.28%
5,702
|
$442,276,000 | 0.09% |
| Wells Fargo Co New |
5.15%
7,150
|
$424,639,000 | 0.09% |
| Royal Bk Cda |
No change
3,845
|
$409,031,000 | 0.08% |
| Virtus Etf Tr Ii |
No change
17,117
|
$407,898,000 | 0.08% |
| Abbott Labs |
No change
3,919
|
$407,254,000 | 0.08% |
| Mcdonalds Corp |
0.07%
1,462
|
$372,491,000 | 0.08% |
| Meta Platforms Inc |
No change
719
|
$362,534,000 | 0.08% |
| Enterprise Prods Partners L |
1.09%
12,481
|
$361,699,000 | 0.08% |
| Truist Finl Corp |
0.19%
9,177
|
$356,538,000 | 0.07% |
| Victory Portfolios II |
Opened
11,260
|
$348,159,000 | 0.07% |
| Vanguard World Fd |
No change
3,306
|
$546,496,000 | 0.11% |
| Crown Holdings, Inc. |
No change
4,494
|
$334,309,000 | 0.07% |
| Mondelez International Inc. |
No change
5,049
|
$330,407,000 | 0.07% |
| Disney Walt Co |
Closed
2,700
|
$330,328,000 | |
| Bristol-Myers Squibb Co. |
No change
7,943
|
$329,873,000 | 0.07% |
| Duke Energy Corp. |
1.15%
3,155
|
$316,226,000 | 0.07% |
| Vanguard Specialized Funds |
0.06%
1,690
|
$308,510,000 | 0.06% |
| 3M Co. |
5.33%
2,982
|
$304,731,000 | 0.06% |
| American Express Co. |
No change
1,315
|
$304,488,000 | 0.06% |
| Spdr S&p Midcap 400 Etf Tr |
5.19%
548
|
$293,224,000 | 0.06% |
| Waste Mgmt Inc Del |
0.07%
1,343
|
$286,568,000 | 0.06% |
| Cisco Sys Inc |
0.35%
6,019
|
$285,939,000 | 0.06% |
| Danaher Corp. |
No change
1,142
|
$285,329,000 | 0.06% |
| Texas Instrs Inc |
No change
1,450
|
$282,069,000 | 0.06% |
| Dominion Energy Inc |
16.32%
5,730
|
$280,770,000 | 0.06% |
| Automatic Data Processing In |
No change
1,137
|
$271,391,000 | 0.06% |
| Phillips 66 |
0.05%
1,872
|
$264,275,000 | 0.05% |
| WEC Energy Group Inc |
No change
3,335
|
$261,664,000 | 0.05% |
| Vanguard Mun Bd Fds |
7.20%
5,155
|
$258,317,000 | 0.05% |
| Credit Accep Corp Mich |
No change
484
|
$249,105,000 | 0.05% |
| First Horizon Corporation |
17.55%
15,792
|
$249,042,000 | 0.05% |
| Carmax Inc |
No change
3,285
|
$240,922,000 | 0.05% |
| Philip Morris International Inc |
Opened
2,368
|
$239,951,000 | 0.05% |
| Exchange Traded Concepts Tru |
No change
11,330
|
$466,377,000 | 0.10% |
| American Centy Etf Tr |
9.35%
3,510
|
$236,643,000 | 0.05% |
| Ishares Tr |
Closed
12,058
|
$471,047,000 | |
| Nike, Inc. |
Closed
2,494
|
$234,386,000 | |
| CSX Corp. |
9.72%
6,909
|
$231,114,000 | 0.05% |
| CVS Health Corp |
23.53%
3,900
|
$230,334,000 | 0.05% |
| Booking Holdings Inc |
No change
58
|
$229,767,000 | 0.05% |
| Salesforce Inc |
Closed
729
|
$219,560,000 | |
| Cigna Group (The) |
No change
657
|
$217,184,000 | 0.05% |
| Conocophillips |
0.05%
1,862
|
$212,982,000 | 0.04% |
| Unitedhealth Group Inc |
No change
418
|
$212,871,000 | 0.04% |
| Comcast Corp New |
Opened
5,320
|
$208,331,000 | 0.04% |
| American Tower Corp. |
2.89%
1,068
|
$207,598,000 | 0.04% |
| Vanguard World Fd |
Opened
1,050
|
$207,155,000 | 0.04% |
| Enbridge Inc |
Closed
5,528
|
$200,003,000 | |
| Stereotaxis, Inc. |
No change
18,700
|
$34,034,000 | 0.01% |
| No transactions found | |||
| Showing first 500 out of 121 holdings | |||
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