Lummis Asset Management LP's Q1 2024 13F: 7 new positions, 26 exits
Form 13F-HR for the quarter ended Mar 31, 2024 · filed May 17, 2024 · 156 reported positions · accession 0002011652-24-000002
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | Matador Resources Co (MTDR) | 12.9% | 13.7% | +0.8 pts | −143K sh | −48% |
| Reduced | Microsoft Corp (MSFT) | 8.8% | 7.4% | −1.4 pts | −17,467 sh | −57% |
| Reduced | Blackstone Minerals Company (BSM) | 4.1% | 0.1% | −4.1 pts | −335K sh | −99% |
| Reduced | Apple Computer Inc (AAPL) | 10.2% | 8.9% | −1.3 pts | −30,646 sh | −44% |
| Reduced | Berkshire Hathaway Cl B (BRKB) | 4.1% | 5.0% | +0.9 pts | −6,070 sh | −41% |
| Reduced | Eli Lilly & Co. (LLY) | 1.2% | 0.0% | −1.2 pts | −2,668 sh | −100% |
| Exited | Equinix Inc (EQIX) | 2.3% | — | −2.3 pts | −3,723 sh | −100% |
| Reduced | Abbott Labs (ABT) | 2.4% | 2.1% | −0.3 pts | −14,863 sh | −52% |
| Reduced | Thermo Fisher Scientific (TMO) | 2.4% | 2.3% | 0.0 pts | −2,865 sh | −49% |
| Reduced | Exxon Mobil Corporation (XOM) | 1.6% | 1.1% | −0.5 pts | −13,904 sh | −66% |
| Reduced | Alphabet Inc Class C (GOOG) | 3.4% | 3.9% | +0.5 pts | −10,106 sh | −35% |
| Reduced | General Dynamics Corp (GD) | 2.5% | 3.0% | +0.4 pts | −4,806 sh | −38% |
| Reduced | Pepsico Incorporated (PEP) | 2.5% | 2.7% | +0.2 pts | −7,517 sh | −40% |
| Reduced | Johnson & Johnson (JNJ) | 1.7% | 1.3% | −0.3 pts | −7,568 sh | −55% |
| Reduced | Conocophillips (COP) | 1.2% | 0.7% | −0.5 pts | −8,995 sh | −68% |
| Reduced | Abbvie Inc (ABBV) | 0.7% | 0.0% | −0.7 pts | −6,209 sh | −100% |
| Reduced | Procter & Gamble Co. (PG) | 0.8% | 0.1% | −0.7 pts | −6,407 sh | −96% |
| Reduced | Ross Stores Inc (ROST) | 2.3% | 2.8% | +0.6 pts | −7,028 sh | −33% |
| Reduced | Dollar General Corp (DG) | 1.6% | 1.9% | +0.4 pts | −5,897 sh | −39% |
| Reduced | Acushnet Holdings Co (GOLF) | 2.1% | 2.8% | +0.6 pts | −12,454 sh | −29% |
| Reduced | Oracle Corp (ORCL) | 2.7% | 4.0% | +1.3 pts | −5,273 sh | −18% |
| Reduced | Chevrontexaco Corp (CVX) | 0.5% | 0.0% | −0.4 pts | −4,040 sh | −97% |
| Reduced | The Charles Schwab Corp (SCHW) | 1.1% | 1.2% | +0.1 pts | −8,281 sh | −41% |
| Reduced | Amern Tower Corp Class A (AMT) | 2.5% | 3.2% | +0.7 pts | −3,020 sh | −20% |
| Exited | Amgen Inc (AMGN) | 0.7% | — | −0.7 pts | −3,333 sh | −100% |
| Reduced | Coca Cola Co. (KO) | 1.0% | 1.2% | +0.2 pts | −8,472 sh | −37% |
| Reduced | Acuity Brands Inc (AYI) | 1.5% | 2.4% | +0.9 pts | −1,849 sh | −22% |
| Reduced | Phillips (PSX) | 0.3% | 0.0% | −0.3 pts | −2,861 sh | −95% |
| Reduced | First Financial Bancshares, In (FFIN) | 0.6% | 0.5% | 0.0 pts | −12,858 sh | −51% |
| Reduced | Automatic Data Processing Corp (ADP) | 0.4% | 0.2% | −0.2 pts | −1,607 sh | −76% |
| Reduced | Middleby Corp The (MIDD) | 1.3% | 1.9% | +0.6 pts | −2,474 sh | −22% |
| Reduced | Academy Sports & Outdoor (ASO) | 1.1% | 1.5% | +0.4 pts | −5,400 sh | −25% |
| Reduced | Amazon Com Inc (AMZN) | 0.8% | 1.2% | +0.4 pts | −2,000 sh | −28% |
| Reduced | Wells Fargo & Co New (WFC) | 1.3% | 2.2% | +0.9 pts | −6,131 sh | −18% |
| Reduced | Lockheed Martin Corp (LMT) | 0.2% | 0.0% | −0.2 pts | −698 sh | −99% |
| Increased | Williams Cos Inc Com (WMB) | 0.2% | 0.7% | +0.6 pts | +7,887 sh | +126% |
| Exited | Illinois Toll Works Inc (ITW) | 0.4% | — | −0.4 pts | −2,000 sh | −100% |
| New | Realty Incm Corp (O) | — | 0.4% | +0.4 pts | +5,457 sh | new |
| Exited | White Mountains Inusurance Group LTD (WTM) | 0.4% | — | −0.4 pts | −325 sh | −100% |
| Reduced | Garrett Motion Inc (GTX) | 1.1% | 1.6% | +0.5 pts | −26,620 sh | −18% |
| Reduced | Raytheon Technologies Co (RTX) | 0.2% | 0.0% | −0.2 pts | −2,621 sh | −97% |
| Reduced | South St Corp (SSB) | 0.6% | 0.8% | +0.1 pts | −2,943 sh | −31% |
| Exited | Realty Incm Corp | 0.3% | — | −0.3 pts | −6,612 sh | −100% |
| Exited | Cisco Systems Inc (CSCO) | 0.3% | — | −0.3 pts | −6,668 sh | −100% |
| Exited | Nuveen Real Asset Incm | 0.3% | — | −0.3 pts | −15,881 sh | −100% |
| Exited | Pfizer Inc (PFE) | 0.2% | — | −0.2 pts | −11,314 sh | −100% |
| Exited | Clorox Co (CLX) | 0.2% | — | −0.2 pts | −1,734 sh | −100% |
| Exited | Unilever PLC (UL) | 0.2% | — | −0.2 pts | −5,000 sh | −100% |
| Reduced | Devon Energy Corp (DVN) | 1.1% | 2.0% | +0.9 pts | −2,429 sh | −8% |
| Reduced | Meta Platforms, Inc. (META) | 0.1% | 0.0% | 0.0 pts | −250 sh | −81% |
The 50 largest of 84 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 55.0% of the equity book
Changes in the top 10 this quarter: AIG entered · ROST entered · BSM left · PEP left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Matador Resources Co (MTDR) | 12.9% | 13.7% | |
| 2 | Apple Computer Inc (AAPL) | 10.2% | 8.9% | |
| 3 | Microsoft Corp (MSFT) | 8.8% | 7.4% | |
| 4 | Berkshire Hathaway Cl B (BRKB) | 4.1% | 5.0% | |
| 5 | Oracle Corp (ORCL) | 2.7% | 4.0% | |
| 6 | Alphabet Inc Class C (GOOG) | 3.4% | 3.9% | |
| 7 | Amern Tower Corp Class A (AMT) | 2.5% | 3.2% | |
| 8 | American International Group (AIG) | 2.1% | 3.1% | Entered the top 10 |
| 9 | General Dynamics Corp (GD) | 2.5% | 3.0% | |
| 10 | Ross Stores Inc (ROST) | 2.3% | 2.8% | Entered the top 10 |
| — | Blackstone Minerals Company (BSM) | 4.1% | 0.1% | Left the top 10 |
| — | Pepsico Incorporated (PEP) | 2.5% | 2.7% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).