MOUNT LUCAS MANAGEMENT LP
Q4 2025 Form 13-F
NEWTOWN, PENNSYLVANIA
CIK 0001185072
· CRD 108255
· SEC-registered investment adviser
$250.0M Reported Value Total
MOUNT LUCAS MANAGEMENT LP reports 12 total accounts under management (AUM). There are 12 discretionary accounts valued at $1,303,500,000, 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
$250.0M
Quarter over quarter
+2.0%
Holdings
167
Top-10 concentration
26.6%
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
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Q4 2025 13F record
Q4 2025 13F filing summary
| Period of report | December 31, 2025 |
|---|---|
| Filed | February 05, 2026 |
| Form | 13F-HR |
| Reported value | $250.0M |
| Positions | 167 |
| Change in reported value | +2.7% |
| New positions | 9 |
| Exited positions | 1 |
| Position turnover | 6.0% |
| Top-10 concentration | 26.6% |
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 · Q4 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | RPV INVESCO S&P 500 PURE VALUE E | $21.5M | 8.58% |
| 2 | EWZ C ISHARES MSCI BRAZIL ETF | $10.2M | 4.07% |
| 3 | QQQ INVESCO QQQ TRUST SERIES 1 | $7.0M | 2.8% |
| 4 | RKT C ROCKET COS INC-CLASS A | $5.6M | 2.25% |
| 5 | INTC C INTEL CORP | $4.6M | 1.84% |
| 6 | EWA ISHARES MSCI AUSTRALIA ETF | $3.9M | 1.56% |
| 7 | BBJP JPMORGAN BETABUILDERS JAPAN | $3.9M | 1.55% |
| 8 | IREN C IREN LTD | $3.8M | 1.51% |
| 9 | FOXA FOX CORP - CLASS A | $3.2M | 1.27% |
| 10 | AGNC AGNC INVESTMENT CORP | $3.0M | 1.2% |
| 11 | BKLN INVESCO SENIOR LOAN ETF | $3.0M | 1.2% |
| 12 | PFF ISHARES PREFERRED & INCOME S | $3.0M | 1.19% |
| 13 | REM ISHARES MORTGAGE REAL ESTATE | $3.0M | 1.19% |
| 14 | NLY ANNALY CAPITAL MANAGEMENT IN | $3.0M | 1.18% |
| 15 | CWB SS SPDR BB CONV SEC ETF | $2.9M | 1.17% |
| 16 | DWX STATE STREET SPDR S&P INTERN | $2.9M | 1.15% |
| 17 | EMHY ISHARES J.P. MORGAN EM HIGH | $2.9M | 1.14% |
| 18 | PBP INVESCO S&P 500 BUYWRITE ETF | $2.8M | 1.14% |
| 19 | EMB ISHARES JP MORGAN USD EMERGI | $2.8M | 1.13% |
| 20 | VYM VANGUARD HIGH DVD YIELD ETF | $2.8M | 1.12% |
Values as reported on the Q4 2025 Form 13F. Every position is in the holdings table below.