Somerset Group LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), Somerset Group LLC reported 60 stock positions worth $106.6 million. Its top holding was US Bancorp (USB) at 10.4% of the portfolio, followed by Microsoft (MSFT, 5.9%) and C.H. Robinson Worldwide (CHRW, 5.8%). Compared with Q4 2023, it opened 5 new positions, sold out of 9, added to 7 and reduced 34. The biggest buy was Schwab US Large-Cap ETF (SCHX, shares +5%) and the biggest sale Apple (AAPL, shares −24%).
- Most Recent 13F
- Q2 2026
- Location
- WAYZATA, MN
- CIK
- 0001567912
- Portfolio Value
- $106.6M (Q1 2024)
- SEC Filing
- 0001062993-24-009841 ↗ filed May 10, 2024
Holdings Value
Holdings 60 stocks · $106.6M
| USB US Bancorp | 10.43% | 248,784 | $11.1M | Reduce -8.1% |
| MSFT Microsoft Corp. | 5.86% | 14,862 | $6.3M | Reduce -28.3% |
| CHRW C.H. Robinson Worldwide Inc. | 5.77% | 80,856 | $6.2M | Reduce -0.7% |
| MMM 3M Co. | 5.75% | 57,830 | $6.1M | Reduce -2.3% |
| QQQ Invesco QQQ Trust Series 1 | 5.60% | 13,450 | $6.0M | Reduce -15.3% |
| AMZN Amazon.com Inc. | 4.55% | 26,905 | $4.9M | Reduce -9.5% |
| AAPL Apple Inc. | 4.35% | 27,019 | $4.6M | Reduce -24.2% |
| COST Costco Wholesale Corp. | 3.23% | 4,694 | $3.4M | Reduce -5.5% |
| NEE Nextera Energy Inc. | 3.12% | 52,009 | $3.3M | Reduce -7.5% |
| IHI iShares U.S. Medical Devices | 2.97% | 54,095 | $3.2M | Reduce -17.1% |
| BX Blackstone Inc. | 2.92% | 23,686 | $3.1M | Reduce -16.9% |
| SCHX Schwab US Large-Cap ETF | 2.71% | 46,487 | $2.9M | Add +5.1% |
| WFC Wells Fargo & Co. | 2.59% | 47,629 | $2.8M | No change |
| PANW Palo Alto Networks Inc. | 2.49% | 9,341 | $2.7M | Reduce -23.1% |
| CVX Chevron Corp. | 2.29% | 15,513 | $2.4M | Add +1.6% |
| MINT PIMCO Enhanced Short Maturit | 2.26% | 23,990 | $2.4M | Reduce -32.2% |
| IYF iShares US Financials ETF | 2.05% | 22,881 | $2.2M | Reduce -20.1% |
| FDN First Trust DJ Internet Ind | 2.00% | 10,375 | $2.1M | Reduce -9.2% |
| IWO iShares Russell 2000 Growth | 1.79% | 7,040 | $1.9M | Reduce -23.5% |
| F Ford Motor Co. filed as FORD MTR CO DEL | 1.73% | 139,014 | $1.8M | Reduce -16.8% |
| GOOG Alphabet Inc. Class C | 1.48% | 10,345 | $1.6M | Reduce -0.7% |
| LLY Eli Lilly & Co. | 1.39% | 1,908 | $1.5M | Reduce -1.2% |
| IJK iShares S&P Mid-Cap 400 Grow | 1.37% | 15,972 | $1.5M | Add +0.5% |
| LNG Cheniere Energy Inc. | 1.28% | 8,450 | $1.4M | Reduce -29.0% |
| TXN Texas Instruments Inc. | 1.16% | 7,130 | $1.2M | Reduce -27.6% |
| ABBV Abbvie Inc. | 1.16% | 6,803 | $1.2M | Reduce -8.1% |
| XOM Exxon Mobil Corp. | 1.06% | 9,749 | $1.1M | Reduce -17.7% |
| XLE SS Energy Select Sector | 1.04% | 11,767 | $1.1M | Reduce -19.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 1.03% | 4,805 | $1.1M | Reduce -1.0% |
| LOW Lowe's Cos Inc. | 0.96% | 4,006 | $1.0M | Reduce -7.0% |
| TRV The Travelers Cos Inc. | 0.93% | 4,303 | $990K | No change |
| ITA iShares U.S. Aerospace & Def | 0.88% | 7,145 | $943K | Add +0.6% |
| PEP Pepsico Inc. | 0.86% | 5,238 | $917K | Reduce -26.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.83% | 1,686 | $882K | Reduce -37.2% |
| VTIP Vanguard Short-Term Tips | 0.83% | 18,375 | $880K | Reduce -37.0% |
| Sanmina Sci Corporation | 0.80% | 13,711 | $853K | No change |
| ECL Ecolab Inc. | 0.74% | 3,426 | $791K | Add +0.5% |
| MCD McDonald's Corp. | 0.67% | 2,544 | $717K | Reduce -31.9% |
| WY Weyerhaeuser Co. | 0.67% | 19,777 | $710K | No change |
| COR Cencora Inc. | 0.63% | 2,758 | $670K | No change |
| SCHO Schwab Short-Term US Treas | 0.56% | 12,340 | $595K | Reduce -7.9% |
| MRK Merck & Co. Inc. | 0.45% | 3,613 | $477K | No change |
| NTRS Northern Trust Corp. | 0.42% | 5,000 | $445K | Reduce -16.7% |
| NEAR iShares SH Dba ETF Usd Inc. | 0.39% | 8,152 | $411K | No change |
| CRM Salesforce Inc. | 0.34% | 1,206 | $363K | Add +0.8% |
| Stryker Corporation | 0.34% | 1,000 | $358K | No change |
| JNJ Johnson & Johnson | 0.30% | 2,034 | $322K | Reduce -5.4% |
| SCHA Schwab US Small-Cap ETF | 0.30% | 6,519 | $321K | Reduce -0.9% |
| SPGI S&P Global Inc. | 0.30% | 750 | $319K | No change |
| TGT Target Corp. | 0.24% | 1,470 | $260K | No change |
| SCHB Schwab US Broad Market ETF | 0.24% | 4,259 | $260K | Add +13.2% |
| PG The Procter & Gamble Co. | 0.24% | 1,578 | $256K | No change |
| HON Honeywell International Inc. | 0.23% | 1,207 | $248K | No change |
| CB Chubb Ltd. | 0.23% | 954 | $247K | No change |
| Whirlpool Corp | 0.22% | 1,951 | $233K | No change |
| ISRG Intuitive Surgical Inc. | 0.20% | 540 | $216K | New |
| IBIT iShares Bitcoin Trust ETF | 0.20% | 5,255 | $213K | New |
| XLG Invesco S&P 500 Top 50 ETF | 0.20% | 5,000 | $211K | New |
| DSI iShares ESG MSCI KLD 400 ETF | 0.19% | 2,046 | $206K | New |
| PYPL PayPal Holdings Inc. | 0.19% | 3,006 | $201K | New |
Portfolio Sells Q4 2023 → Q1 2024
| AAPL Apple Inc. | Reduce -24.2% | 4.35% | −1.42 |
| MINT PIMCO Enhanced Short Maturit | Reduce -32.2% | 2.26% | −0.71 |
| MSFT Microsoft Corp. | Reduce -28.3% | 5.86% | −0.69 |
| PANW Palo Alto Networks Inc. | Reduce -23.1% | 2.49% | −0.52 |
| CQP Cheniere Energy Partners LP | Sold out | 0.00% | −0.50 |
| WMB Williams Cos Inc. | Sold out | 0.00% | −0.45 |
| LNG Cheniere Energy Inc. | Reduce -29.0% | 1.28% | −0.43 |
| LIT Global X Lithium & Battery T | Sold out | 0.00% | −0.38 |
| ET Energy Transfer LP | Sold out | 0.00% | −0.36 |
| VTIP Vanguard Short-Term Tips | Reduce -37.0% | 0.83% | −0.34 |
| PFF iShares Preferred & Income S | Sold out | 0.00% | −0.33 |
| MPLX MPLX LP | Sold out | 0.00% | −0.31 |
| EPD Enterprise Products Partners | Sold out | 0.00% | −0.27 |
| MCD McDonald's Corp. | Reduce -31.9% | 0.67% | −0.26 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −0.25 |
| TXN Texas Instruments Inc. | Reduce -27.6% | 1.16% | −0.25 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -37.2% | 0.83% | −0.25 |
| 0 | Sold out | 0.00% | −0.24 |
| BX Blackstone Inc. | Reduce -16.9% | 2.92% | −0.21 |
| IWO iShares Russell 2000 Growth | Reduce -23.5% | 1.79% | −0.16 |
| PEP Pepsico Inc. | Reduce -26.6% | 0.86% | −0.16 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -0.7% | 5.77% | −0.14 |
| NTRS Northern Trust Corp. | Reduce -16.7% | 0.42% | −0.01 |
| IYF iShares US Financials ETF | Reduce -20.1% | 2.05% | −0.00 |
| SCHO Schwab Short-Term US Treas | Reduce -7.9% | 0.56% | +0.01 |
| IHI iShares U.S. Medical Devices | Reduce -17.1% | 2.97% | +0.01 |
| XLE SS Energy Select Sector | Reduce -19.1% | 1.04% | +0.02 |
| JNJ Johnson & Johnson | Reduce -5.4% | 0.30% | +0.02 |
| F Ford Motor Co. | Reduce -16.8% | 1.73% | +0.02 |
| SCHA Schwab US Small-Cap ETF | Reduce -0.9% | 0.30% | +0.04 |
| XOM Exxon Mobil Corp. | Reduce -17.7% | 1.06% | +0.07 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -15.3% | 5.60% | +0.14 |
| LOW Lowe's Cos Inc. | Reduce -7.0% | 0.96% | +0.15 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -1.0% | 1.03% | +0.16 |
| ABBV Abbvie Inc. | Reduce -8.1% | 1.16% | +0.20 |
| FDN First Trust DJ Internet Ind | Reduce -9.2% | 2.00% | +0.21 |
| GOOG Alphabet Inc. Class C | Reduce -0.7% | 1.48% | +0.24 |
| NEE Nextera Energy Inc. | Reduce -7.5% | 3.12% | +0.25 |
| MMM 3M Co. | Reduce -2.3% | 5.75% | +0.32 |
| LLY Eli Lilly & Co. | Reduce -1.2% | 1.39% | +0.45 |
| COST Costco Wholesale Corp. | Reduce -5.5% | 3.23% | +0.47 |
| USB US Bancorp | Reduce -8.1% | 10.43% | +0.58 |
| AMZN Amazon.com Inc. | Reduce -9.5% | 4.55% | +0.76 |
Portfolio Buys Q4 2023 → Q1 2024
| SCHX Schwab US Large-Cap ETF | Add +5.1% | 2.71% | +0.61 |
| CVX Chevron Corp. | Add +1.6% | 2.29% | +0.38 |
| IJK iShares S&P Mid-Cap 400 Grow | Add +0.5% | 1.37% | +0.31 |
| ISRG Intuitive Surgical Inc. | New | 0.20% | +0.20 |
| IBIT iShares Bitcoin Trust ETF | New | 0.20% | +0.20 |
| XLG Invesco S&P 500 Top 50 ETF | New | 0.20% | +0.20 |
| DSI iShares ESG MSCI KLD 400 ETF | New | 0.19% | +0.19 |
| PYPL PayPal Holdings Inc. | New | 0.19% | +0.19 |
| ECL Ecolab Inc. | Add +0.5% | 0.74% | +0.17 |
| ITA iShares U.S. Aerospace & Def | Add +0.6% | 0.88% | +0.13 |
| CRM Salesforce Inc. | Add +0.8% | 0.34% | +0.08 |
| SCHB Schwab US Broad Market ETF | Add +13.2% | 0.24% | +0.07 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 58 | $142.5M | CHRW, QQQ, MMM, SCHX, AAPL |
| Q1 2026 | 59 | $134.6M | CHRW, QQQ, MMM, SCHX, AMZN |
| Q4 2025 | 59 | $132.7M | CHRW, QQQ, MMM, MSFT, SCHX |
| Q3 2025 | 60 | $126.2M | CHRW, QQQ, MMM, MSFT, SCHX |
| Q2 2025 | 60 | $118.1M | QQQ, MMM, CHRW, MSFT, AMZN |
| Q1 2025 | 62 | $109.9M | MMM, CHRW, QQQ, AAPL, MSFT |
| Q4 2024 | 62 | $109.4M | CHRW, MMM, QQQ, AAPL, MSFT |
| Q3 2024 | 61 | $108.4M | CHRW, MMM, QQQ, MSFT, AAPL |
| Q2 2024 | 62 | $112.7M | USB, CHRW, MSFT, QQQ, MMM |
| Q1 2024 | 60 | $106.6M | USB, MSFT, CHRW, MMM, QQQ |