Summit Asset Management, LLC

RIA/Wealth

Summit Asset Management, LLC is a RIA/Wealth based in Memphis, TN led by John Norfleet Laughlin, reporting $938.9M in AUM as of Q3 2025 with 75% ETF concentration.

CEOJohn Norfleet Laughlin

Portfolio Value: $650.4M
Positions: 170
Top Holding: SCHD at 8.31%
Last Reported: Q3 2025

Address5100 Wheelis Drive, Suite 107, Memphis, TN, 38117, United States

Top Holdings

Largest long holdings in Summit Asset Management, LLC's portfolio (49.5% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Schwab US Dividend Equity SCHD	ETF ETF	$54.0M	8.31%	+$140.3K Bought	— 2.0M shares	≤ Q2 2013 Held for 12y 5m+
2 Schwab U.S. Large-Cap Growth SCHG	ETF ETF	$44.3M	6.82%	+$470.5K Bought	— 1.4M shares	≤ Q2 2013 Held for 12y 5m+
3 VanEck Morningstar Wide Moat ETF MOAT	ETF ETF	$37.4M	5.75%	+$226.0K Bought	— 377.3K shares	Q3 2019 Held for 6y 2m
4 Schwab International Equity SCHF	ETF ETF	$36.8M	5.66%	+$189.7K Bought	— 1.6M shares	≤ Q2 2013 Held for 12y 5m+
5 Schwab U.S. Mid-Cap ETF SCHM	ETF ETF	$36.7M	5.65%	-$147.5K Sold	— 1.2M shares	≤ Q2 2013 Held for 12y 5m+
6 Schwab U.S. Large-Cap Value SCHV	ETF ETF	$32.4M	4.98%	+$1.3M Bought	— 1.1M shares	≤ Q2 2013 Held for 12y 5m+
7 iShares Core S&P 500 ETF IVV	ETF ETF	$21.1M	3.24%	+$364.1K Bought	— 31.5K shares	≤ Q2 2013 Held for 12y 5m+
8 iShares Core S&P Small-Cap ETF IJR	ETF ETF	$20.6M	3.17%	+$58.0K Bought	— 173.7K shares	≤ Q2 2013 Held for 12y 5m+
9 iShares 7-10 Year Treasury Bond IEF	ETF ETF	$19.5M	3.00%	+$1.0M Bought	— 202.2K shares	Q2 2023 Held for 2y 5m
10 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$19.0M	2.92%	-$307.2K Sold	0.00% 37.8K shares	Q4 2019 Held for 5y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Summit Asset Management, LLC's latest filing

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Market Value

$650.4M

Prior: $613.8M

Q/Q Change

+5.95%

+$36.5M

Net Flows % of MV

+0.793%

Turnover Ratio

1.32%

New Purchases

6 stocks

$1.5M

Added To

51 stocks

+$9.4M

Sold Out Of

9 stocks

$2.0M

Reduced Holdings

42 stocks

-$3.7M

Increased Positions

Position	Shares Δ	Change
1 Marsh & McLennan Companies MMC	New	0 → 1.8K +$353.9K
2 Blue Owl Capital OBDC	New	0 → 20.0K +$255.4K
3 iShares iBonds Dec 2028 Term Corporate IBDT	New	0 → 9.6K +$245.7K
4 General Electric GEV	New	0 → 367.0 +$225.8K
5 Schwab Fundamental U.S. Large Company FNDX	New	0 → 8.5K +$222.5K

Decreased Positions

Position	Shares Δ	Change
1 SCHO Schwab Short-Term U.S. Treasury SCHO	Sold	10.6K → 0 −$259.2K
2 Vanguard Tax-Exempt Bond Index Fund VTEB	Sold	5.2K → 0 −$252.8K
3 Public Storage PSA	Sold	860.0 → 0 −$252.3K
4 CarMax KMX	Sold	3.3K → 0 −$220.8K
5 Eaton Corporation ETN	Sold	617.0 → 0 −$220.3K

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Analytics

Portfolio insights and performance metrics for Summit Asset Management, LLC

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Sector Allocation

ETF

74.70%

Financial Services

6.10%

Technology

5.40%

Consumer Cyclical

4.00%

Industrials

3.60%

Healthcare

1.90%

Consumer Defensive

1.90%

Communication Services

0.90%

Energy

0.70%

Utilities

0.50%

Real Estate

0.40%

Market Cap Distribution

Mega Cap (> $200B)

16.75%

Large Cap ($10B - $200B)

8.01%

Mid Cap ($2B - $10B)

0.21%

Small Cap ($300M - $2B)

0.17%

Micro Cap ($50M - $300M)

0.10%

N/A (ETF or Unknown)

74.76%

Portfolio Concentration

Top 10 Holdings %

49.5%

Top 20 Holdings %

71.76%

Top 50 Holdings %

88.98%

Top 100 Holdings %

96.49%