Somerset 13F annual report
Somerset is an investment fund managing more than $113 billion ran by Julie Toelle. There are currently 62 companies in Mrs. Toelle’s portfolio. The largest investments include U.s. Bancorp and C.h. Robinson Worldwide, together worth $16.8 billion.
$113 billion Assets Under Management (AUM)
As of 5th August 2024, Somerset’s top holding is 248,784 shares of U.s. Bancorp currently worth over $9.88 billion and making up 8.8% of the portfolio value.
In addition, the fund holds 78,986 shares of C.h. Robinson Worldwide worth $6.96 billion.
The third-largest holding is Microsoft worth $6.84 billion and the next is Invesco QQQ Trust worth $6.8 billion, with 14,189 shares owned.
Currently, Somerset's portfolio is worth at least $113 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 Somerset
The Somerset office and employees reside in Wayzata, Minnesota. According to the last 13-F report filed with the SEC, Julie Toelle serves as the Head of Operations at Somerset.
Recent trades
In the most recent 13F filing, Somerset revealed that it had opened a new position in
Dell Technologies Inc and bought 10,005 shares worth $1.38 billion.
This means they effectively own approximately 0.1% of the company.
Dell Technologies Inc makes up
8.8%
of the fund's Technology sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Microsoft by buying
437 additional shares.
This makes their stake in Microsoft total 15,299 shares worth $6.84 billion.
Microsoft dropped approximately 0.1% in the past year.
On the other hand, there are companies that Somerset is getting rid of from its portfolio.
Somerset closed its position in Whirlpool on 12th August 2024.
It sold the previously owned 1,951 shares for $233 million.
Julie Toelle also disclosed a decreased stake in C.h. Robinson Worldwide by approximately 0.1%.
This leaves the value of the investment at $6.96 billion and 78,986 shares.
One of the smallest hedge funds
The two most similar investment funds to Somerset are Klein Pavlis & Peasley Financial, Inc and Marest Capital. They manage $113 billion and $113 billion respectively.
Julie Toelle investment strategy
Somerset’s portfolio is diversified across 12 sectors.
Currently, their heaviest sector is Technology — making up 14.0% of
the total portfolio value.
The fund focuses on investments in the United States as
45.2% 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
45% of the total holdings value.
On the other hand, small-cap stocks make up only 1.6% of the portfolio.
The average market cap of the portfolio companies is close to $294 billion.
The complete list of Somerset trades based on 13F SEC filings
These positions were updated on August 12th 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 |
|---|---|---|---|
| U.s. Bancorp |
No change
248,784
|
$9,876,725,000 | 8.76% |
| C.h. Robinson Worldwide |
2.31%
78,986
|
$6,960,246,000 | 6.17% |
| Microsoft Corporation |
2.94%
15,299
|
$6,837,888,000 | 6.07% |
| Invesco QQQ Trust |
5.49%
14,189
|
$6,798,092,000 | 6.03% |
| 3M Co. |
No change
57,830
|
$5,909,648,000 | 5.24% |
| Apple Inc |
2.34%
27,650
|
$5,823,643,000 | 5.17% |
| Amazon.com Inc. |
1.60%
26,474
|
$5,116,100,000 | 4.54% |
| NextEra Energy Inc |
0.34%
52,184
|
$3,695,149,000 | 3.28% |
| Schwab Us Large-cap Etf |
20.31%
55,927
|
$3,593,310,000 | 3.19% |
| Costco Whls |
15.64%
3,960
|
$3,365,960,000 | 2.99% |
| Palo Alto Networks Inc |
1.80%
9,509
|
$3,223,646,000 | 2.86% |
| Ishares Dj Us Med Devices |
1.03%
54,651
|
$3,062,642,000 | 2.72% |
| Blackstone Group Class A |
1.56%
23,316
|
$2,886,521,000 | 2.56% |
| Wells Fargo & Co. |
No change
47,629
|
$2,828,686,000 | 2.51% |
| Chevron Corp. |
No change
15,513
|
$2,426,543,000 | 2.15% |
| Ishares Dj Us Financial Sector |
0.50%
22,995
|
$2,174,637,000 | 1.93% |
| Pimco Enhanced Short Matu |
10.13%
21,560
|
$2,170,014,000 | 1.93% |
| First Trust Dj Internet Fund |
1.86%
10,568
|
$2,165,806,000 | 1.92% |
| Alphabet Inc |
1.51%
10,501
|
$1,926,093,000 | 1.71% |
| Ishares Russell 2000 Growth In |
No change
7,040
|
$1,848,211,000 | 1.64% |
| Ishares Sp Mid Cap 400 Gr Etf |
24.77%
19,928
|
$1,755,856,000 | 1.56% |
| Ford Motor Co. |
3.60%
134,009
|
$1,680,473,000 | 1.49% |
| Eli Lilly & Co. |
8.23%
1,751
|
$1,585,320,000 | 1.41% |
| Cheniere Energy Inc. |
No change
8,450
|
$1,477,314,000 | 1.31% |
| Texas Instruments Inc. |
No change
7,130
|
$1,386,999,000 | 1.23% |
| Dell Technologies Inc |
Opened
10,005
|
$1,379,790,000 | 1.22% |
| Abbvie Inc |
No change
6,803
|
$1,166,851,000 | 1.04% |
| Exxon Mobil Corp. |
No change
9,749
|
$1,122,305,000 | 1.00% |
| Spdr Energy Select Sector |
2.85%
12,102
|
$1,103,097,000 | 0.98% |
| Vanguard Small Cap |
0.79%
4,767
|
$1,039,397,000 | 0.92% |
| Ishares Dj Us Aerospac & Def |
6.10%
7,581
|
$1,001,071,000 | 0.89% |
| NVIDIA Corp |
Opened
8,088
|
$999,192,000 | 0.89% |
| Spdr S&p 500 Etf Tr |
No change
1,686
|
$917,555,000 | 0.81% |
| Sanmina Sci Corporation |
No change
13,711
|
$908,354,000 | 0.81% |
| Lowes Companies Inc |
No change
4,006
|
$883,163,000 | 0.78% |
| Travelers Companies Inc. |
No change
4,303
|
$874,972,000 | 0.78% |
| Pepsico |
No change
5,238
|
$863,903,000 | 0.77% |
| Ecolab, Inc. |
1.90%
3,491
|
$830,858,000 | 0.74% |
| Solventum Corp |
Opened
14,456
|
$764,433,000 | 0.68% |
| Mcdonalds Corporation |
No change
2,544
|
$648,313,000 | 0.58% |
| Cencora Inc. |
No change
2,758
|
$621,377,000 | 0.55% |
| Weyerhaeuser Co. |
No change
19,777
|
$561,469,000 | 0.50% |
| Schwab Short Term Ustrea |
14.48%
10,553
|
$507,916,000 | 0.45% |
| Merck & Co Inc |
No change
3,613
|
$447,289,000 | 0.40% |
| Northern Tr Corp |
No change
5,000
|
$419,900,000 | 0.37% |
| Ishares Short Maturity Bond |
No change
8,152
|
$410,290,000 | 0.36% |
| Fiserv, Inc. |
Opened
2,700
|
$402,408,000 | 0.36% |
| Semiconductor Hldrs Tr |
Opened
1,372
|
$357,680,000 | 0.32% |
| Target Corp |
62.99%
2,396
|
$354,704,000 | 0.31% |
| Stryker Corp. |
No change
1,000
|
$340,250,000 | 0.30% |
| S&P Global Inc |
No change
750
|
$334,500,000 | 0.30% |
| Schwab Us Small-cap Etf |
0.31%
6,539
|
$310,276,000 | 0.28% |
| Salesforce Com |
1.49%
1,188
|
$305,435,000 | 0.27% |
| Johnson & Johnson |
No change
2,034
|
$297,289,000 | 0.26% |
| Schwab Us Broad Mkt Etf |
1.74%
4,333
|
$272,416,000 | 0.24% |
| Procter & Gamble Co. |
No change
1,578
|
$260,244,000 | 0.23% |
| Honeywell International Inc |
No change
1,207
|
$257,743,000 | 0.23% |
| Ish Msci Kld 400 Social Idx |
21.02%
2,476
|
$257,147,000 | 0.23% |
| Chubb Limited |
No change
954
|
$243,346,000 | 0.22% |
| Intuitive Surgical Inc |
No change
540
|
$240,219,000 | 0.21% |
| Whirlpool Corp. |
Closed
1,951
|
$233,398,000 | |
| Invesco S&p 500 Top 50 Etf |
No change
5,000
|
$228,750,000 | 0.20% |
| Vanguard Sh-term Inf Etf |
76.15%
4,383
|
$212,751,000 | 0.19% |
| Ishares Bitcoin Trust Etf |
Closed
5,255
|
$212,670,000 | |
| Paypal Holdings Inco |
Closed
3,006
|
$201,372,000 | |
| No transactions found | |||
| Showing first 500 out of 65 holdings | |||
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