UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2013
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Summit Asset Management, LLC
Address: 5100 Wheelis Drive, Suite 107
Memphis, TN 38117
Form 13F File Number: 028-14078
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Lance Wayne Hollingsworth
Title: Senior Vice President, Trading and Operations
Phone: 901-729-8100
Signature, Place, and Date of Signing:
/s/ Lance Wayne Hollingsworth Memphis, TN April 24, 2013
----------------------------- ----------- --------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 78
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Form 13F Information Table Value Total: $ 100,274
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(thousands)
List of Other Included Managers:
Provide a numbered list of the names(s) and Form 13F file numbers(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
NONE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
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VOTING AUTHORITY
TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ---------------------
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- ----------- ----------- --- ---- ---------- -------- ------- ------ ------
3M CO COM 88579Y101 245 2,303 SH SOLE 2,303
ABBVIE INC COM 00287Y109 217 5,317 SH SOLE 2,252 3,065
ABERDEEN ASIA PACIFIC INCOM COM 003009107 84 10,827 SH SOLE 10,827
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 222 10,600 SH SOLE 10,600
APPLE INC COM 037833100 362 818 SH SOLE 738 80
AT&T INC COM 00206R102 1,008 27,460 SH SOLE 25,185 2,275
AUTOZONE INC COM 053332102 710 1,790 SH SOLE 1,540 250
BERKSHIRE HATHAWAY INC DEL CL A 084670108 625 400 SH SOLE 400
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 2,506 24,051 SH SOLE 20,401 3,650
BRISTOL MYERS SQUIBB CO COM 110122108 399 9,694 SH SOLE 7,881 1,813
SCHWAB CHARLES CORP NEW COM 808513105 246 13,896 SH SOLE 7,296 6,600
CHEVRON CORP NEW COM 166764100 736 6,197 SH SOLE 5,325 872
COCA COLA CO COM 191216100 720 17,793 SH SOLE 15,403 2,390
CONOCOPHILLIPS COM 20825C104 289 4,814 SH SOLE 2,110 2,704
DIRECTV COM 25490A309 317 5,608 SH SOLE 5,608
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 7,906 54,406 SH SOLE 50,407 3,999
ENTERPRISE PRODS PARTNERS L COM 293792107 660 10,941 SH SOLE 3,891 7,050
EXXON MOBIL CORP COM 30231G102 2,021 22,426 SH SOLE 17,942 4,484
FEDEX CORP COM 31428X106 691 7,035 SH SOLE 5,960 1,075
FIRST HORIZON NATL CORP COM 320517105 1,086 101,667 SH SOLE 93,398 8,269
GTX INC DEL COM 40052B108 60 14,461 SH SOLE 14,461
GENERAL ELECTRIC CO COM 369604103 863 37,327 SH SOLE 36,267 1,060
GENESIS ENERGY L P UNIT LTD PARTN 371927104 996 20,650 SH SOLE 16,800 3,850
SPDR GOLD TRUST GOLD SHS 78463V107 208 1,345 SH SOLE 1,245 100
CLAYMORE EXCHANGE TRD FD TR GUGG BULL 2013 18383M449 613 23,640 SH SOLE 20,672 2,968
CLAYMORE EXCHANGE TRD FD TR GUGG BULL 2014 18383M431 325 12,178 SH SOLE 8,813 3,365
CLAYMORE EXCHANGE TRD FD TR GUGG BULL 2015 18383M423 279 10,376 SH SOLE 9,778 598
INTERNATIONAL BUSINESS MACHS COM 459200101 1,850 8,675 SH SOLE 8,675
IDEXX LABS INC COM 45168D104 453 4,900 SH SOLE 4,900
ISHARES TR S&P 500 VALUE 464287408 365 4,941 SH SOLE 4,941
ISHARES TR S&P MC 400 GRW 464287606 387 3,024 SH SOLE 3,024
ISHARES TR CORE S&P SCP ETF 464287804 306 3,515 SH SOLE 3,515
ISHARES TR LRGE GRW INDX 464287119 326 3,992 SH SOLE 3,892 100
ISHARES TR LARGE VAL INDX 464288109 289 4,090 SH SOLE 4,090
ISHARES TR MID CORE INDEX 464288208 561 5,043 SH SOLE 5,043 0
ISHARES TR MID GRWTH INDX 464288307 8,321 70,277 SH SOLE 65,162 5,115
ISHARES TR MID VAL INDEX 464288406 263 2,787 SH SOLE 2,787
ISHARES TR MSCI EAFE INDEX 464287465 372 6,315 SH SOLE 6,315
ISHARES TR CORE S&P500 ETF 464287200 977 6,207 SH SOLE 5,982 225
JOHNSON & JOHNSON COM 478160104 950 11,650 SH SOLE 10,585 1,065
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 278 5,200 SH SOLE 1,200 4,000
MICROSOFT CORP COM 594918104 345 12,077 SH SOLE 11,577 500
MID-AMER APT CMNTYS INC COM 59522J103 611 8,850 SH SOLE 6,850 2,000
MONDELEZ INTL INC CL A 609207105 221 7,234 SH SOLE 6,334 900
NEXTERA ENERGY INC COM 65339F101 219 2,825 SH SOLE 2,825
NUVEEN REAL ESTATE INCOME FD COM 67071B108 166 13,300 SH SOLE 0 13,300
PPG INDS INC COM 693506107 633 4,728 SH SOLE 4,728
PEPSICO INC COM 713448108 330 4,173 SH SOLE 4,113 60
PFIZER INC COM 717081103 639 22,129 SH SOLE 17,119 5,010
PHILIP MORRIS INTL INC COM 718172109 452 4,878 SH SOLE 4,878
PIMCO ETF TR ENHAN SHRT MAT 72201R833 6,499 64,017 SH SOLE 54,395 9,622
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 331 5,860 SH SOLE 3,260 2,600
PLUM CREEK TIMBER CO INC COM 729251108 300 5,750 SH SOLE 2,250 3,500
PROCTER & GAMBLE CO COM 742718109 2,375 30,822 SH SOLE 29,622 1,200
PUBLIC STORAGE COM 74460D109 262 1,720 SH SOLE 1,720
ROYAL BK CDA MONTREAL QUE COM 780087102 372 6,171 SH SOLE 6,171
RYDEX ETF TRUST GUG RUSS TOP 50 78355W205 426 3,833 SH SOLE 2,647 1,186
SCHWAB STRATEGIC TR EMRG MKTEQ ETF 808524706 5,327 208,494 SH SOLE 189,308 19,186
SCHWAB STRATEGIC TR INTL EQTY ETF 808524805 244 8,748 SH SOLE 8,748
SCHWAB STRATEGIC TR US LRG CAP ETF 808524201 441 11,795 SH SOLE 11,795
SCHWAB STRATEGIC TR US MID-CAP ETF 808524508 222 7,043 SH SOLE 6,040 1,003
SCHWAB STRATEGIC TR US SML CAP ETF 808524607 427 9,967 SH SOLE 9,967
SCHWAB STRATEGIC TR US BRD MKT ETF 808524102 238 6,282 SH SOLE 5,903 379
SCHWAB STRATEGIC TR US DIVIDEND EQ 808524797 18,122 570,050 SH SOLE 524,474 45,576
SCHWAB STRATEGIC TR US LCAP GR ETF 808524300 8,599 231,101 SH SOLE 211,987 19,114
SCHWAB STRATEGIC TR US LCAP VA ETF 808524409 8,652 243,863 SH SOLE 223,076 20,787
SPDR SERIES TRUST S&P DIVID ETF 78464A763 416 6,303 SH SOLE 4,828 1,475
SUNTRUST BKS INC COM 867914103 301 10,438 SH SOLE 6,938 3,500
TORCHMARK CORP COM 891027104 250 4,175 SH SOLE 4,175
TRACTOR SUPPLY CO COM 892356106 227 2,183 SH SOLE 2,183
UNION PAC CORP COM 907818108 323 2,265 SH SOLE 2,265
VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 203 2,505 SH SOLE 2,505
VANGUARD INDEX FDS REIT ETF 922908553 228 3,235 SH SOLE 3,235
VERIZON COMMUNICATIONS INC COM 92343V104 351 7,144 SH SOLE 6,219 925
WALGREEN CO COM 931422109 420 8,801 SH SOLE 7,411 1,391
WAL-MART STORES INC COM 931142103 573 7,663 SH SOLE 6,443 1,220
WELLS FARGO & CO NEW COM 949746101 260 7,029 SH SOLE 5,629 1,400
WESTERN UN CO COM 959802109 173 11,501 SH SOLE 11,501