MOUNT LUCAS MANAGEMENT LP
Q2 2025 Form 13-F
NEWTOWN, PENNSYLVANIA
CIK 0001185072
· CRD 108255
· SEC-registered investment adviser
$234.6M Reported Value Total
MOUNT LUCAS MANAGEMENT LP reports 13 total accounts under management (AUM). There are 13 discretionary accounts valued at $1,120,600,000, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
6 funds
· $633.7M gross asset value
Hedge Fund: $626.1M · Other: $4.9M · Private Equity Fund: $2.6M
Source: Form ADV filed 2026-06-10
Reported value
$234.6M
Quarter over quarter
+8.2%
Holdings
156
Top-10 concentration
34.3%
Filing Structure
Key People
Form ADV owners & control persons
Roger Ellis Alcaly
DIRECTOR OF GENERAL PARTNER; LIMITED PARTNER
David Aspell
CHIEF INVESTMENT OFFICER; DIRECTOR OF GENERAL PARTNER; LIMITED PARTNER
Raymond Edward IX
DIRECTOR OF GENERAL PARTNER; LIMITED PARTNER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
Loading 13F Metrics
Q2 2025 13F record
Q2 2025 13F filing summary
| Period of report | June 30, 2025 |
|---|---|
| Filed | August 11, 2025 |
| Form | 13F-HR |
| Reported value | $234.6M |
| Positions | 156 |
| Change in reported value | -24.6% |
| New positions | 43 |
| Exited positions | 31 |
| Position turnover | 39.6% |
| Top-10 concentration | 34.3% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q3 2026 13F
Filed Nov 9, 2026
|
153 | $332.6M |
|
Q2 2026 13F
Filed Aug 10, 2026
|
166 | $280.7M |
|
Q1 2026 13F
Filed May 5, 2026
|
165 | $270.8M |
|
Q4 2025 13F
Filed Feb 5, 2026
|
167 | $250.0M |
|
Q3 2025 13F
Filed Nov 10, 2025
|
159 | $243.5M |
|
Q2 2025 13F
Filed Aug 11, 2025
|
156 | $234.6M |
|
Q1 2025 13F
Filed May 6, 2025
|
144 | $311.0M |
|
Q4 2024 13F
Filed Feb 7, 2025
|
135 | $287.3M |
|
Q3 2024 13F
Filed Nov 6, 2024
|
145 | $293.6M |
|
Q2 2024 13F
Filed Aug 6, 2024
|
154 | $349.4M |
|
Q1 2024 13F
Filed May 10, 2024
|
142 | $366.0M |
|
Q4 2023 13F
Filed Feb 7, 2024
|
139 | $347.6M |
|
Q3 2023 13F
Filed Nov 14, 2023
|
127 | $283.1M |
|
Q2 2023 13F
Filed Aug 14, 2023
|
137 | $299.1M |
|
Q1 2023 13F
Filed May 12, 2023
|
109 | $378.8M |
|
Q4 2022 13F
Filed Feb 14, 2023
|
107 | $305.2M |
|
Q3 2022 13F
Filed Nov 10, 2022
|
93 | $290.4M |
|
Q2 2022 13F
Filed Aug 10, 2022
|
90 | $298.6M |
|
Q1 2022 13F
Filed May 12, 2022
|
111 | $343.3M |
|
Q4 2021 13F
Filed Feb 14, 2022
|
129 | $349.9M |
34 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q2 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | QQQ INVESCO QQQ TRUST SERIES 1 | $27.3M | 11.65% |
| 2 | EWZ C ISHARES MSCI BRAZIL ETF | $11.5M | 4.92% |
| 3 | TSLA C TESLA INC | $9.5M | 4.06% |
| 4 | NLY ANNALY CAPITAL MANAGEMENT IN | $5.5M | 2.34% |
| 5 | AGNC AGNC INVESTMENT CORP | $5.2M | 2.24% |
| 6 | IEF ISHARES 7-10 YEAR TREASURY B | $4.8M | 2.03% |
| 7 | IEI ISHARES 3-7 YEAR TREASURY BO | $4.7M | 2.02% |
| 8 | SHY ISHARES 1-3 YEAR TREASURY BO | $4.7M | 2.01% |
| 9 | EWA ISHARES MSCI AUSTRALIA ETF | $3.6M | 1.53% |
| 10 | BBJP JPMORGAN BETABUILDERS JAPAN | $3.5M | 1.51% |
| 11 | INTC C INTEL CORP | $3.4M | 1.43% |
| 12 | CWB SPDR BLOOMBERG CONVERTIBLE S | $2.8M | 1.19% |
| 13 | BKLN INVESCO SENIOR LOAN ETF | $2.7M | 1.16% |
| 14 | VYM VANGUARD HIGH DVD YIELD ETF | $2.7M | 1.13% |
| 15 | PGR PROGRESSIVE CORP | $2.6M | 1.12% |
| 16 | EMB ISHARES JP MORGAN USD EMERGI | $2.6M | 1.12% |
| 17 | EMHY ISHARES J.P. MORGAN EM HIGH | $2.6M | 1.12% |
| 18 | PBP INVESCO S&P 500 BUYWRITE ETF | $2.6M | 1.11% |
| 19 | DWX SPDR S&P INTER DVD ETF | $2.6M | 1.11% |
| 20 | FOXA FOX CORP - CLASS A | $2.4M | 1.03% |
Values as reported on the Q2 2025 Form 13F. Every position is in the holdings table below.