Somerset Group LLC

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CIK 1567912

13F portfolio (2026-Q1)

$135M

Positions

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

Top 5

33.7%

Top 10

51.9%

Effective N

25.8

HHI

0.039

This quarter

2 new · 0 exit →

By sector

Unclassified31.5%

Industrials16.9%

Information Technology15.9%

Consumer Discretionary10.8%

Financials9.0%

Utilities4.9%

Health Care3.9%

Communication Services2.5%

Other4.6%

By market cap

Mega (>$200B)34.8%

Large ($10–200B)31.6%

Unknown31.5%

Mid ($2–10B)2.1%

By region

North America68.5%

Other31.5%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	31.47%	18
Transportation Infrastructure	9.62%	1
Specialty Retail	9.59%	4
Health Care Equipment & Supplies	6.95%	3
Technology Hardware & Equipment	6.60%	2
Banks	5.33%	4
Utilities	4.89%	2
Semiconductors & Semiconductor Equipment	4.71%	3
Software	4.41%	1
Pharmaceuticals & Biotechnology	3.54%	3
Capital Markets	2.42%	1
Software & IT Services	2.31%	1
Oil, Gas & Consumable Fuels	2.26%	2
Insurance	1.20%	2
Chemicals	1.01%	2
Distributors	0.67%	1
Beverages	0.60%	1
Hotels, Restaurants & Leisure	0.59%	1
Equity Real Estate Investment Trusts (REITs)	0.37%	1
Metals & Mining	0.36%	1
Road & Rail	0.27%	1
Commercial Services & Supplies	0.25%	1
Aerospace & Defense	0.22%	1
Media & Entertainment	0.20%	1
Electrical Equipment & Components	0.16%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	CHRW	C. H. ROBINSON WORLDWIDE, INC.	Industrials	9.62%
2	QQQ	INVESCO QQQ TR	Unclassified	7.84%
3	MMM	3M CO	Industrials	6.56%
4	SCHX	SCHWAB U.S. LARGE-CAP ETF	Unclassified	5.09%
5	AMZN	AMAZON COM INC	Consumer Discretionary	4.61%
6	MSFT	MICROSOFT CORP	Information Technology	4.41%
7	AAPL	Apple Inc.	Information Technology	4.29%
8	NEE	NEXTERA ENERGY INC	Utilities	3.40%
9	COST	COSTCO WHOLESALE CORP /NEW	Consumer Discretionary	3.17%
10	WFC	WELLS FARGO & COMPANY/MN	Financials	2.87%

41/59 names classified · sector 68.5% of weight · industry 68.5% · mkt cap 68.5%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 52 quarters

IndustrialsMMM, CHRW, UNP, GBX, DE · other

FinancialsUSB, WFC, TRV, BX, PYPL · other

Information TechnologyMSFT, AAPL, PANW, GE, DDD · other

Consumer DiscretionaryAMZN, COST, F, WMT, LULU · other

UtilitiesNEE, LNG, ET, D, CQP · other

EnergyCVX, XOM, PSX, PAA, SDRL · other

Health CareBSX, ABBV, LLY, GILD, EW · other

Communication ServicesDIS, GOOG, META, VZ, GOOGL · other

Real EstateWY, VTR

Consumer StaplesPEP, GIS, KHC

MaterialsECL, PG, MP

UnclassifiedQQQ, MINT, FDN, SCHX, POWERSHARES QQQ TRUST · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 68.5% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (40 classified)Somerset Group LLC centroid (Large Core)

IndustrialsInformation TechnologyConsumer DiscretionaryFinancialsUtilitiesHealth CareCommunication ServicesEnergyMaterialsConsumer StaplesReal Estate

Style box summary for Somerset Group LLC: centroid Large Core. Heaviest cells: Large Growth 27.0%, Large Core 16.6%, Mid Value 10.2%.

Classified: 68.2% of book weight (40/59 names) · unclassified 31.8%: QQQ, SCHX, IYF, IJK, IHI, FDN, MINT, SPY, IWO, ITA +9 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 59 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	CHRWC H ROBINSON WORLDWIDE INC	71,089	$13M	9.6%	HOLD
2	QQQINVESCO QQQ TR	16,265	$11M	7.8%	HOLD
3	MMM3M CO	57,130	$9M	6.6%	HOLD
4	SCHXSCHWAB U.S. LARGE-CAP ETF	244,908	$7M	5.1%	HOLD
5	AMZNAMAZON COM INC	24,772	$6M	4.6%	HOLD
6	MSFTMICROSOFT CORP	14,041	$6M	4.4%	HOLD
7	AAPLAPPLE INC	21,380	$6M	4.3%	HOLD
8	NEENEXTERA ENERGY INC	49,771	$5M	3.4%	HOLD
9	COSTCOSTCO WHSL CORP NEW	4,269	$4M	3.2%	HOLD
10	WFCWELLS FARGO CO NEW	47,400	$4M	2.9%	HOLD
11	BXBLACKSTONE INC	25,274	$3M	2.4%	ADD 3%
12	IYFISHARES TR	25,237	$3M	2.3%	HOLD
13	GOOGALPHABET INC	9,161	$3M	2.3%	HOLD
14	PANWPALO ALTO NETWORKS INC	18,489	$3M	2.3%	ADD 3%
15	IJKISHARES TR	28,074	$3M	2.3%	HOLD
16	IHIISHARES TR	54,101	$3M	2.2%	HOLD
17	LLYELI LILLY & CO	3,145	$3M	2.2%	HOLD
18	FDNFIRST TR EXCHANGE-TRADED FD	10,886	$3M	2.1%	TRIM −5%
19	NVDANVIDIA CORPORATION	11,669	$2M	1.7%	HOLD
20	SANMSANMINA CORPORATION	13,493	$2M	1.7%	HOLD
21	USBUS BANCORP	40,765	$2M	1.7%	HOLD
22	MINTPIMCO ETF TR	22,906	$2M	1.7%	ADD 8%
23	SPYSTATE STR SPDR S&P 500 ETF T	3,110	$2M	1.6%	HOLD
24	WMTWALMART INC	16,798	$2M	1.6%	HOLD
25	IWOISHARES TR	5,990	$2M	1.6%	HOLD
26	ITAIShares U.S. Aerospace & Defense ETF	8,800	$2M	1.5%	HOLD
27	LNGCheniere Energy, Inc	7,998	$2M	1.5%	HOLD
28	TXNTEXAS INSTRS INC	7,130	$2M	1.2%	HOLD
29	CVXCHEVRON CORP NEW	8,758	$2M	1.2%	HOLD
30	XOMEXXON MOBIL CORP	9,749	$1M	1.1%	HOLD
31	ABBVABBVIE INC	6,803	$1M	1.1%	HOLD
32	XLESELECT SECTOR SPDR TR	25,114	$1M	1.0%	HOLD
33	TRVTRAVELERS COMPANIES INC	4,303	$1M	1.0%	HOLD
34	ECLECOLAB INC	4,142	$1M	0.8%	HOLD
35	CORCENCORA INC	2,758	$903,411	0.7%	HOLD
36	PEPPEPSICO INC	5,138	$810,109	0.6%	HOLD
37	NTRSNORTHERN TR CORP	5,000	$795,800	0.6%	HOLD
38	MCDMCDONALDS CORP	2,544	$792,100	0.6%	HOLD
39	SMHVANECK ETF TRUST	1,220	$566,276	0.4%	TRIM −2%
40	WYWEYERHAEUSER CO	19,777	$497,788	0.4%	HOLD
41	MPMP MATERIALS CORP	8,042	$490,482	0.4%	NEW
42	SCHOSCHWAB SHORT-TERM US TREASURY ETF	18,090	$439,584	0.3%	HOLD
43	MRKMERCK & CO INC	3,613	$430,200	0.3%	HOLD
44	NEARISHARES U S ETF TR	8,173	$416,438	0.3%	HOLD
45	VBVANGUARD INDEX FDS	1,420	$404,232	0.3%	HOLD
46	SCHBSCHWAB STRATEGIC TR	14,032	$384,898	0.3%	TRIM −9%
47	KNXKNIGHT-SWIFT TRANSN HLDGS IN	5,600	$360,752	0.3%	HOLD
48	DSIISHARES TR	2,615	$348,547	0.3%	ADD 3%
49	SPGIS&P GLOBAL INC	750	$331,928	0.2%	HOLD
50	CBCHUBB LIMITED	954	$315,612	0.2%	HOLD
51	XLGINVESCO EXCHANGE TRADED FD T	5,000	$300,600	0.2%	HOLD
52	HONHONEYWELL INTL INC	1,274	$297,543	0.2%	ADD 4%
53	TGTTARGET CORP	2,270	$290,197	0.2%	TRIM −50%
54	SYKSTRYKER CORPORATION	800	$274,656	0.2%	HOLD
55	NFLXNETFLIX INC	2,811	$273,539	0.2%	NEW
56	ISRGINTUITIVE SURGICAL INC	540	$253,374	0.2%	HOLD
57	PGPROCTER AND GAMBLE CO	1,528	$224,510	0.2%	HOLD
58	EMREMERSON ELEC CO	1,475	$215,867	0.2%	HOLD
59	JPMJPMORGAN CHASE & CO	661	$205,102	0.2%	HOLD

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

CHRWC H ROBINSON WORLDWIDE INC

76K

75K

74K

73K

72K

71K

$13M

QQQINVESCO QQQ TR

14K

15K

16K

$11M

MMM3M CO

57K

$9M

SCHXSCHWAB U.S. LARGE-CAP ETF

166K

202K

216K

236K

242K

245K

$7M

AMZNAMAZON COM INC

24K

25K

$6M

MSFTMICROSOFT CORP

14K

$6M

AAPLAPPLE INC

24K

25K

22K

21K

$6M

NEENEXTERA ENERGY INC

52K

54K

50K

$5M

COSTCOSTCO WHSL CORP NEW

$4M

WFCWELLS FARGO CO NEW

48K

47K

$4M

BXBLACKSTONE INC

23K

24K

25K

$3M

IYFISHARES TR

23K

24K

25K

$3M

GOOGALPHABET INC

10K

11K

$3M

PANWPALO ALTO NETWORKS INC

17K

18K

$3M

IJKISHARES TR

19K

21K

24K

28K

$3M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

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