Summit Equities Inc

Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.

Portfolio value: $601M
Positions: 40
Quarter ended: September 30, 2018
Filed: November 13, 2018

Reported portfolio value by quarter (19 quarters reported)

$601M $226M

Q1 14 Q1 15 Q1 16 Q1 17 Q1 18 Q3 18

$226M in Q1 2014 → $601M now. Hover for any quarter.

Holdings

As reported for the quarter ended September 30, 2018. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
VI Vanguard Index Fds Total Stk Mkt	50.0%	Added 0.4%	2,009,161	$301M
VI Vanguard Intl Equity Index F Allwrld Ex Us	20.1%	Added 1.3%	2,317,232	$121M
VI Vanguard Index Fds Mid-cap Value ETF	5.5%	Added 0.9%	294,214	$33.3M
VI Vanguard Index Fds Value ETF	5.1%	Added 0.8%	274,883	$30.4M
SI SPDR Index Shs Fds Glb Nat Resrce	4.5%	Added 0.4%	533,609	$27M
VI Vanguard Index Fds Sm Cp Val ETF	4.1%	Added 1.0%	178,065	$24.8M
US United Sts Commodity Index Fd	2.9%	Added 0.9%	412,625	$17.5M
VW Vanguard World Fds Energy ETF	2.6%	Added 0.7%	149,002	$15.7M
IC Ishares Core Total Usd Bond Mkt	0.6%	Added 0.9%	71,922	$3.53M
VT Vanguard Tax Mngd Intl Fd Ftse Dev Mkt ETF	0.5%	Added 5.4%	69,745	$3.02M
IN Ishares National Mun ETF	0.3%	Added 5.2%	17,366	$1.87M
IC Ishares Core Russell Val	0.3%	Added 0.6%	29,855	$1.68M
IR Ishares Russell 1000 ETF	0.3%	Added 3.3%	10,262	$1.66M
VS Vanguard Scottsdale Fds Int-term Corp	0.2%	Added 0.4%	17,226	$1.44M
VB Vanguard Bd Index Fd Inc Intermed Term	0.2%	Added 0.4%	17,811	$1.43M
VI Vanguard Intl Equity Index Ftse Emr Mkt ETF	0.2%	Added 2.3%	28,914	$1.19M
IR Ishares Rus 2000 Grw ETF	0.2%	Unchanged	4,302	$925K
ET Energy Transfer Prtnrs L P Unit Ltd Partn	0.2%	Trimmed 2.0%	41,458	$923K
SS Schwab Strategic Tr Us Lrg Cap ETF	0.2%	New	13,252	$922K
EP Enterprise Prods Partners L Com	0.2%	Trimmed 2.8%	31,519	$906K
WC Williams Cos Inc Del Com	0.1%	New	31,752	$863K
VB Vanguard Bd Index Fd Inc Total Bnd Mrkt	0.1%	Added 3.1%	10,482	$825K
PA Plains All Amern Pipeline L Unit Ltd Partn	0.1%	Trimmed 2.8%	32,206	$805K
IR Ishares Rus 2000 Val ETF	0.1%	Unchanged	6,040	$803K
MM Magellan Midstream Prtnrs LP Com Unit Rp LP	0.1%	Trimmed 2.8%	11,738	$795K
AL Andeavor Logistics LP Com	0.1%	Trimmed 2.2%	16,065	$780K
IR Ishares Russell 2000 ETF	0.1%	Unchanged	4,500	$758K
Mplx LP	0.1%	Trimmed 1.7%	21,112	$732K
WG Western Gas Partners LP Com Unit LP In	0.1%	Trimmed 1.9%	15,012	$656K
EM Eqt Midstream Prtnrs LP Com Unit LP	0.1%	Trimmed 2.1%	12,420	$656K
JC Jpmorgan Chase & Co Com	0.1%	Unchanged	5,613	$633K
BP Buckeye Partners L P Unit Ltd Partn	0.1%	Added 0.5%	17,426	$622K
VI Vanguard Index Fds REIT ETF	0.1%	Added 1.2%	6,623	$534K
SS Schwab Strategic Tr Us Sml Cap ETF	0.1%	Added 9.5%	6,008	$458K
VI Vanguard Index Fds Mid Cap ETF	0.1%	Unchanged	2,464	$405K
VI Vanguard Index Fds Growth ETF	0.1%	Unchanged	2,465	$397K
VV Vaneck Vectors ETF Tr Jp Morgan Mkts	0.1%	Added 1.0%	20,182	$332K
IS Ishares S&P 500 Value ETF	0.0%	Added 4.8%	2,381	$276K
VI Vanguard Intl Equity Index Ftse Smcap ETF	0.0%	Trimmed 6.5%	2,247	$252K
IT Ishares Tr Tips Bd ETF	0.0%	Added 2.5%	2,059	$228K

Timeline of changes

What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.

Q3 2018

quarter ended September 30, 2018 · filed November 13, 2018

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Intl Equity Index F Allwrld Ex Us	Added	+30,512	+$1.59M	20.1%
VI Vanguard Index Fds Total Stk Mkt	Added	+7,038	+$1.05M	50.0%
SS Schwab Strategic Tr Us Lrg Cap ETF	New	+13,252	+$922K	0.2%
WP Williams Partners L P Com Unit L P	Exited	−21,949	−$891K	—
WC Williams Cos Inc Del Com	New	+31,752	+$863K	0.1%
SS SPDR S&P 500 ETF Tr Unit	Exited	−3,052	−$828K	—
VI Vanguard Index Fds Mid-cap Value ETF	Added	+2,745	+$310K	5.5%
VI Vanguard Index Fds Sm Cp Val ETF	Added	+1,714	+$239K	4.1%
VI Vanguard Index Fds Value ETF	Added	+2,148	+$238K	5.1%
US United Sts Commodity Index Fd	Added	+3,707	+$157K	2.9%

Showing the 10 largest of 36 changes.

Q2 2018

quarter ended June 30, 2018 · filed July 31, 2018

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Index Fds Total Stk Mkt	Trimmed	−52,150	−$7.32M	48.9%
VI Vanguard Intl Equity Index F Allwrld Ex Us	Trimmed	−21,716	−$1.13M	20.6%
VI Vanguard Index Fds Mid-cap Value ETF	Trimmed	−6,442	−$712K	5.6%
SI SPDR Index Shs Fds Glb Nat Resrce	Trimmed	−11,734	−$588K	4.6%
VI Vanguard Index Fds Sm Cp Val ETF	Trimmed	−3,960	−$538K	4.2%
VW Vanguard World Fds Energy ETF	Trimmed	−4,773	−$502K	2.7%
US United Sts Commodity Index Fd	Trimmed	−10,973	−$480K	3.1%
VI Vanguard Index Fds Growth ETF	New	+2,465	+$369K	0.1%
VB Vanguard Bd Index Fd Inc Intermed Term	Added	+4,327	+$350K	0.3%
VS Vanguard Scottsdale Fds Int-term Corp	Added	+4,194	+$350K	0.2%

Showing the 10 largest of 38 changes.

Q1 2018

quarter ended March 31, 2018 · filed May 11, 2018

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Index Fds Total Stk Mkt	Trimmed	−17,832	−$2.42M	48.5%
VI Vanguard Index Fds Value ETF	Trimmed	−11,914	−$1.23M	4.9%
EM Eqt Midstream Prtnrs LP Com Unit LP	New	+12,958	+$1.1M	0.2%
EP Enterprise Prods Partners L Com	New	+13,420	+$1.1M	0.2%
SI SPDR Index Shs Fds Glb Nat Resrce	Trimmed	−18,916	−$915K	4.6%
IR Ishares Rus 2000 Val ETF	New	+17,309	+$776K	0.1%
EE Enbridge Energy Partners L P Com	Exited	−45,793	−$632K	—
US United Sts Commodity Index Fd	Trimmed	−10,879	−$465K	3.1%
WT Wisdomtree Tr Div Ex-finl Fd	Exited	−4,826	−$427K	—
IU Ishares U.s. Finls ETF	New	+5,835	+$403K	0.1%

Showing the 10 largest of 37 changes.

Q4 2017

quarter ended December 31, 2017 · filed February 20, 2018

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Index Fds Total Stk Mkt	Added	+40,169	+$5.51M	48.5%
VI Vanguard Intl Equity Index F Allwrld Ex Us	Added	+57,969	+$3.17M	21.5%
VI Vanguard Index Fds Value ETF	Added	+15,810	+$1.68M	5.2%
VI Vanguard Index Fds Sm Cp Val ETF	Added	+9,241	+$1.23M	4.1%
VI Vanguard Index Fds Mid-cap Value ETF	Added	+7,761	+$866K	5.6%
SI SPDR Index Shs Fds Glb Nat Resrce	Added	+14,430	+$708K	4.7%
IC Ishares Core Total Usd Bond Mkt	Added	+12,935	+$658K	0.6%
US United Sts Commodity Index Fd	Added	+10,474	+$445K	3.1%
VI Vanguard Intl Equity Index Ftse Emr Mkt ETF	Added	+9,671	+$444K	0.2%
VT Vanguard Tax Mngd Intl Fd Ftse Dev Mkt ETF	Added	+8,650	+$388K	0.5%

Showing the 10 largest of 34 changes.

Q3 2017

quarter ended September 30, 2017 · filed November 13, 2017

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Index Fds Total Stk Mkt	Added	+112,100	+$14.5M	48.4%
VI Vanguard Intl Equity Index F Allwrld Ex Us	Added	+125,614	+$6.62M	21.8%
VI Vanguard Index Fds Mid-cap Value ETF	Added	+15,622	+$1.65M	5.6%
SI SPDR Index Shs Fds Glb Nat Resrce	Added	+35,543	+$1.63M	4.6%
IR Ishares Russell 1000 ETF	New	+11,015	+$1.54M	0.3%
VI Vanguard Index Fds Value ETF	Added	+14,570	+$1.45M	5.0%
VI Vanguard Index Fds Sm Cp Val ETF	Added	+9,924	+$1.27M	4.0%
OP Oneok Partners LP Unit Ltd Partn	Exited	−23,007	−$1.18M	—
EM Eqt Midstream Prtnrs LP Com Unit LP	New	+14,646	+$1.1M	0.2%
VT Vanguard Tax Mngd Intl Fd Ftse Dev Mkt ETF	Added	+24,646	+$1.07M	0.5%

Showing the 10 largest of 32 changes.

Q2 2017

quarter ended June 30, 2017 · filed August 14, 2017

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Index Fds Total Stk Mkt	Added	+101,335	+$12.6M	49.0%
VI Vanguard Intl Equity Index F Allwrld Ex Us	Added	+130,906	+$6.55M	21.8%
SI SPDR Index Shs Fds Glb Nat Resrce	Added	+48,266	+$2M	4.4%
VT Vanguard Tax Mngd Intl Fd Ftse Dev Mkt ETF	New	+35,805	+$1.48M	0.3%
US United Sts Commodity Index Fd	Added	+33,988	+$1.31M	3.1%
VI Vanguard Index Fds Mid-cap Value ETF	Added	+11,210	+$1.15M	5.7%
VI Vanguard Index Fds Value ETF	Added	+11,747	+$1.13M	5.1%
VI Vanguard Index Fds Sm Cp Val ETF	Added	+9,091	+$1.12M	4.1%
SL Sunoco Logistics Prtnrs L P Com Units	Exited	−43,438	−$1.06M	—
WG Western Gas Partners LP Com Unit LP In	New	+17,433	+$975K	0.2%

Showing the 10 largest of 32 changes.

Q1 2017

quarter ended March 31, 2017 · filed May 09, 2017

Company	Action	Shares changed	Value of change	% of portfolio
US United Sts Commodity Index Fd	New	+360,422	+$14.1M	3.2%
SI SPDR Index Shs Fds Glb Nat Resrce	Added	+144,044	+$6.12M	4.4%
GC Greenhaven Cont Cmdty Index Unit Ben Int	Trimmed	−319,003	−$6.12M	0.1%
VI Vanguard Intl Equity Index F Allwrld Ex Us	Added	+120,752	+$5.78M	21.4%
VI Vanguard Index Fds Total Stk Mkt	Added	+22,954	+$2.78M	49.4%
IN Ishares National Mun ETF	Trimmed	−8,267	−$901K	0.2%
VI Vanguard Index Fds Sm Cp Val ETF	Added	+6,628	+$814K	4.2%
VI Vanguard Index Fds Value ETF	Added	+7,533	+$718K	5.2%
VI Vanguard Index Fds Mid-cap Value ETF	Added	+5,341	+$544K	6.0%
OP Oneok Partners LP Unit Ltd Partn	Trimmed	−9,291	−$502K	0.3%

Showing the 10 largest of 27 changes.

Q4 2016

quarter ended December 31, 2016 · filed February 10, 2017

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Index Fds Total Stk Mkt	Added	+32,347	+$3.73M	51.4%
VI Vanguard Intl Equity Index F Allwrld Ex Us	Added	+62,457	+$2.76M	20.5%
IN Ishares National Mun ETF	New	+15,776	+$1.71M	0.4%
IC Ishares Core Russell Val	New	+7,313	+$359K	0.1%
IC Ishares Core Total Usd Bond Mkt	Added	+6,619	+$333K	0.2%
VI Vanguard Index Fds Mid-cap Value ETF	Added	+3,375	+$328K	6.2%
IM Ishares Msci Acwi Ex Us	New	+7,945	+$320K	0.1%
VI Vanguard Index Fds Value ETF	Added	+3,380	+$314K	5.5%
VI Vanguard Index Fds Sm Cp Val ETF	Added	+2,557	+$309K	4.4%
SI SPDR Index Shs Fds Glb Nat Resrce	Added	+5,385	+$221K	3.3%

Showing the 10 largest of 24 changes.

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