Summit 13F annual report
Summit is an investment fund managing more than $277 billion ran by Lisa Lester. There are currently 133 companies in Mrs. Lester’s portfolio. The largest investments include Microsoft and Spdr S&p 500 Etf Tr, together worth $22.8 billion.
$277 billion Assets Under Management (AUM)
As of 29th March 2024, Summit’s top holding is 27,951 shares of Microsoft currently worth over $11.8 billion and making up 4.3% of the portfolio value.
Relative to the number of outstanding shares of Microsoft, Summit owns more than approximately 0.1% of the company.
In addition, the fund holds 21,086 shares of Spdr S&p 500 Etf Tr worth $11 billion.
The third-largest holding is Invesco Exchange Traded Fd T worth $9.52 billion and the next is Lilly Eli & Co worth $8.2 billion, with 10,534 shares owned.
Currently, Summit's portfolio is worth at least $277 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
The Summit office and employees reside in Moorefield, West Virginia. According to the last 13-F report filed with the SEC, Lisa Lester serves as the OPERATIONS ASSISTANT at Summit.
Recent trades
In the most recent 13F filing, Summit revealed that it had opened a new position in
VanEck ETF Trust and bought 3,835 shares worth $348 million.
This means they effectively own approximately 0.1% of the company.
VanEck ETF Trust makes up
7.4%
of the fund's Miscellaneous sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Spdr S&p 500 Etf Tr by buying
863 additional shares.
This makes their stake in Spdr S&p 500 Etf Tr total 21,086 shares worth $11 billion.
On the other hand, there are companies that Summit is getting rid of from its portfolio.
Summit closed its position in Ishares Tr on 5th April 2024.
It sold the previously owned 5,037 shares for $257 million.
Lisa Lester also disclosed a decreased stake in Microsoft by approximately 0.1%.
This leaves the value of the investment at $11.8 billion and 27,951 shares.
One of the smaller hedge funds
The two most similar investment funds to Summit are Kiley Juergens Wealth Management and Lantz. They manage $277 billion and $277 billion respectively.
Lisa Lester investment strategy
Summit’s portfolio is diversified across 13 sectors.
Currently, their heaviest sector is Technology — making up 6.7% of
the total portfolio value.
The fund focuses on investments in the United States as
46.6% 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
47% of the total holdings value.
On the other hand, small-cap stocks make up only 2.3% of the portfolio.
The average market cap of the portfolio companies is close to $218 billion.
The complete list of Summit trades based on 13F SEC filings
These positions were updated on April 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 |
|---|---|---|---|
| Microsoft Corporation |
3.00%
27,951
|
$11,759,544,000 | 4.25% |
| Spdr S&p 500 Etf Tr |
4.27%
21,086
|
$11,029,453,000 | 3.99% |
| Invesco Exchange Traded Fd T |
3.52%
61,426
|
$9,524,836,000 | 3.44% |
| Lilly Eli & Co |
0.33%
10,534
|
$8,195,030,000 | 2.96% |
| Ishares Tr |
7.16%
944,097
|
$79,980,557,000 | 28.92% |
| Procter And Gamble Co |
1.25%
42,590
|
$6,910,226,000 | 2.50% |
| Summit Finl Group Inc |
4.74%
219,386
|
$5,958,523,000 | 2.15% |
| Johnson & Johnson |
0.51%
36,635
|
$5,795,290,000 | 2.10% |
| Exxon Mobil Corp. |
1.52%
48,160
|
$5,598,118,000 | 2.02% |
| CSX Corp. |
9.61%
127,024
|
$4,708,779,000 | 1.70% |
| Apple Inc |
0.60%
24,984
|
$4,284,256,000 | 1.55% |
| Home Depot, Inc. |
1.95%
8,314
|
$3,189,249,000 | 1.15% |
| Coca-Cola Co |
0.26%
51,209
|
$3,132,966,000 | 1.13% |
| Waste Mgmt Inc Del |
2.41%
14,605
|
$3,113,055,000 | 1.13% |
| JPMorgan Chase & Co. |
1.12%
13,531
|
$2,710,258,000 | 0.98% |
| Vanguard Intl Equity Index F |
1.42%
101,863
|
$4,899,042,000 | 1.77% |
| Disney Walt Co |
0.87%
20,055
|
$2,453,929,000 | 0.89% |
| Global X Fds |
5.82%
57,280
|
$2,280,316,000 | 0.82% |
| Emerson Elec Co |
No change
19,877
|
$2,254,449,000 | 0.82% |
| Select Sector Spdr Tr |
12.09%
88,461
|
$7,615,452,000 | 2.75% |
| VanEck ETF Trust |
1.10%
28,840
|
$2,806,022,000 | 1.01% |
| Pepsico Inc |
2.46%
12,418
|
$2,165,398,000 | 0.78% |
| Vanguard Tax-managed Intl |
2.30%
42,439
|
$2,129,164,000 | 0.77% |
| Fiserv, Inc. |
0.38%
13,265
|
$2,120,012,000 | 0.77% |
| RTX Corp |
4.68%
20,773
|
$2,025,990,000 | 0.73% |
| Norfolk Southn Corp |
1.21%
7,378
|
$1,880,430,000 | 0.68% |
| Chevron Corp. |
0.85%
11,692
|
$1,844,296,000 | 0.67% |
| Abbvie Inc |
0.69%
10,067
|
$1,833,200,000 | 0.66% |
| Amazon.com Inc. |
No change
9,915
|
$1,788,467,000 | 0.65% |
| First Tr Nas100 Eq Weighted |
0.37%
14,178
|
$1,756,654,000 | 0.64% |
| Cisco Sys Inc |
0.60%
32,861
|
$1,640,092,000 | 0.59% |
| Edwards Lifesciences Corp |
No change
16,333
|
$1,560,781,000 | 0.56% |
| First Tr Exchange Traded Fd |
1.07%
26,477
|
$1,493,038,000 | 0.54% |
| General Dynamics Corp. |
No change
5,262
|
$1,486,462,000 | 0.54% |
| Intel Corp. |
0.07%
33,393
|
$1,474,968,000 | 0.53% |
| Intercontinental Exchange In |
No change
9,978
|
$1,371,276,000 | 0.50% |
| First Cmnty Bankshares Inc V |
No change
38,442
|
$1,331,245,000 | 0.48% |
| Berkshire Hathaway Inc. |
No change
3,104
|
$2,573,333,000 | 0.93% |
| Autodesk Inc. |
No change
5,000
|
$1,302,100,000 | 0.47% |
| Invesco Exch Traded Fd Tr Ii |
0.89%
64,990
|
$2,390,815,000 | 0.86% |
| Verizon Communications Inc |
1.35%
28,826
|
$1,209,538,000 | 0.44% |
| Direxion Shs Etf Tr |
5.26%
41,465
|
$1,173,459,000 | 0.42% |
| Caterpillar Inc. |
6.26%
3,142
|
$1,151,323,000 | 0.42% |
| Exchange Traded Concepts Tr |
3.45%
19,441
|
$1,140,020,000 | 0.41% |
| First Tr Exchange-traded Fd |
0.04%
5,418
|
$1,111,177,000 | 0.40% |
| Proshares Tr |
No change
12,700
|
$1,110,996,000 | 0.40% |
| Alphabet Inc |
No change
11,430
|
$1,730,787,000 | 0.63% |
| 523 Tract Holdongs Llc |
No change
1
|
$1,081,058,000 | 0.39% |
| Air Prods & Chems Inc |
No change
4,400
|
$1,065,988,000 | 0.39% |
| Lowes Cos Inc |
2.36%
4,143
|
$1,055,345,000 | 0.38% |
| International Business Machs |
4.04%
5,504
|
$1,051,043,000 | 0.38% |
| American Elec Pwr Co Inc |
11.65%
12,039
|
$1,036,557,000 | 0.37% |
| Colgate-Palmolive Co. |
4.30%
11,456
|
$1,031,612,000 | 0.37% |
| Wells Fargo Co New |
No change
17,635
|
$1,022,124,000 | 0.37% |
| Hershey Company |
4.13%
5,225
|
$1,016,262,000 | 0.37% |
| Honeywell International Inc |
3.72%
4,792
|
$983,557,000 | 0.36% |
| Spdr Ser Tr |
0.39%
47,425
|
$1,782,984,000 | 0.64% |
| Truist Finl Corp |
No change
24,264
|
$945,810,000 | 0.34% |
| Merck & Co Inc |
2.89%
7,044
|
$929,455,000 | 0.34% |
| Pfizer Inc. |
1.09%
31,902
|
$885,280,000 | 0.32% |
| Duke Energy Corp. |
0.28%
9,057
|
$875,902,000 | 0.32% |
| NVIDIA Corp |
No change
903
|
$815,914,000 | 0.30% |
| Walmart Inc |
192.53%
13,509
|
$812,836,000 | 0.29% |
| Rgc Res Inc |
No change
40,025
|
$810,106,000 | 0.29% |
| Visa Inc |
1.76%
2,786
|
$777,516,000 | 0.28% |
| Philip Morris International Inc |
No change
8,485
|
$777,395,000 | 0.28% |
| Qualcomm, Inc. |
0.80%
4,339
|
$734,592,000 | 0.27% |
| Mcdonalds Corp |
No change
2,570
|
$724,610,000 | 0.26% |
| The Southern Co. |
2.99%
9,734
|
$698,316,000 | 0.25% |
| Schlumberger Ltd. |
3.13%
12,237
|
$670,709,000 | 0.24% |
| NextEra Energy Inc |
2.78%
10,480
|
$669,776,000 | 0.24% |
| AT&T, Inc. |
9.62%
37,745
|
$664,312,000 | 0.24% |
| Capital One Finl Corp |
No change
4,412
|
$656,901,000 | 0.24% |
| American Express Co. |
No change
2,885
|
$656,885,000 | 0.24% |
| Abbott Labs |
No change
5,623
|
$639,110,000 | 0.23% |
| Welltower Inc. |
7.18%
6,465
|
$604,089,000 | 0.22% |
| General Mls Inc |
5.09%
8,208
|
$574,313,000 | 0.21% |
| Bristol-Myers Squibb Co. |
0.24%
10,405
|
$564,263,000 | 0.20% |
| Automatic Data Processing In |
1.99%
2,220
|
$554,422,000 | 0.20% |
| Meta Platforms Cdr Cibc |
No change
1,069
|
$519,085,000 | 0.19% |
| Applied Matls Inc |
No change
2,447
|
$504,644,000 | 0.18% |
| Vanguard Specialized Funds |
2.51%
2,653
|
$484,464,000 | 0.18% |
| Darden Restaurants, Inc. |
No change
2,785
|
$465,512,000 | 0.17% |
| Oracle Corp. |
No change
3,700
|
$464,757,000 | 0.17% |
| Shell Plc |
0.72%
6,910
|
$463,246,000 | 0.17% |
| Target Corp |
No change
2,600
|
$460,746,000 | 0.17% |
| Boeing Co. |
No change
2,342
|
$451,982,000 | 0.16% |
| Bk Of America Corp |
No change
11,809
|
$447,797,000 | 0.16% |
| Black Hills Corporation |
No change
8,000
|
$436,800,000 | 0.16% |
| Altria Group Inc. |
No change
9,950
|
$434,018,000 | 0.16% |
| Gaming & Leisure Pptys Inc |
No change
9,416
|
$433,795,000 | 0.16% |
| First Tr Exch Traded Fd Iii |
No change
24,688
|
$427,596,000 | 0.15% |
| Mondelez International Inc. |
No change
5,960
|
$417,200,000 | 0.15% |
| Conocophillips |
No change
3,202
|
$407,550,000 | 0.15% |
| Franklin Resources, Inc. |
No change
14,360
|
$403,659,000 | 0.15% |
| General Electric Co |
No change
2,221
|
$389,852,000 | 0.14% |
| Alps Etf Tr |
48.96%
7,880
|
$373,984,000 | 0.14% |
| AMGEN Inc. |
2.72%
1,287
|
$365,919,000 | 0.13% |
| Stryker Corp. |
No change
1,000
|
$357,870,000 | 0.13% |
| Novartis AG |
No change
3,654
|
$353,451,000 | 0.13% |
| 3M Co. |
3.43%
3,316
|
$351,728,000 | 0.13% |
| VanEck ETF Trust |
Opened
3,835
|
$347,834,000 | 0.13% |
| Manulife Finl Corp |
No change
13,639
|
$340,838,000 | 0.12% |
| Ssga Active Etf Tr |
8.64%
8,085
|
$340,459,000 | 0.12% |
| Union Pac Corp |
No change
1,380
|
$339,383,000 | 0.12% |
| Elevance Health Inc |
No change
649
|
$336,532,000 | 0.12% |
| DuPont de Nemours Inc |
7.18%
4,165
|
$319,329,000 | 0.12% |
| Starbucks Corp. |
No change
3,441
|
$314,472,000 | 0.11% |
| Chubb Limited |
No change
1,208
|
$313,028,000 | 0.11% |
| Dow Inc |
4.89%
5,330
|
$308,766,000 | 0.11% |
| Dominion Energy Inc |
3.34%
6,252
|
$307,535,000 | 0.11% |
| Adobe Systms Incorporated |
No change
607
|
$306,292,000 | 0.11% |
| Hartford Finl Svcs Group In |
No change
2,945
|
$303,482,000 | 0.11% |
| Costco Whsl Corp New |
No change
408
|
$298,913,000 | 0.11% |
| Kraft Heinz Co |
7.99%
8,058
|
$297,340,000 | 0.11% |
| Comcast Corp New |
No change
6,828
|
$295,993,000 | 0.11% |
| Accenture Plc Ireland |
33.11%
804
|
$278,674,000 | 0.10% |
| Nestle S A |
No change
2,593
|
$275,651,000 | 0.10% |
| Oreilly Automotive |
No change
244
|
$275,446,000 | 0.10% |
| Unitedhealth Group Inc |
No change
556
|
$275,053,000 | 0.10% |
| I Shares Gold Tr |
Opened
6,544
|
$274,913,000 | 0.10% |
| Ishares Inc |
No change
3,750
|
$267,562,000 | 0.10% |
| Tractor Supply Co. |
No change
1,003
|
$262,505,000 | 0.09% |
| Intuit Inc |
No change
401
|
$260,650,000 | 0.09% |
| Ishares Tr |
Closed
5,037
|
$257,088,000 | |
| Becton Dickinson & Co. |
0.49%
1,012
|
$250,419,000 | 0.09% |
| Nucor Corp. |
No change
1,200
|
$237,480,000 | 0.09% |
| Ishares Silver Tr |
1.80%
10,385
|
$236,258,000 | 0.09% |
| Texas Instrs Inc |
1.84%
1,336
|
$232,744,000 | 0.08% |
| Navo-nordisk A S |
Opened
1,750
|
$224,700,000 | 0.08% |
| Cigna Group (The) |
Opened
616
|
$223,724,000 | 0.08% |
| Mastercard Incorporated |
Opened
441
|
$212,372,000 | 0.08% |
| Marsh & McLennan Cos., Inc. |
Opened
993
|
$204,538,000 | 0.07% |
| Fortune Brands Innovations I |
Opened
2,400
|
$203,208,000 | 0.07% |
| No transactions found | |||
| Showing first 500 out of 134 holdings | |||
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