Mount Lucas Management LP's Q4 2023 13F: 49 new positions, 37 exits
Form 13F-HR for the quarter ended Dec 31, 2023 · filed Feb 7, 2024 · 139 reported positions · accession 0001140361-24-006062
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | INVESCO S&P 500 PURE VALUE E (RPV) | 8.9% | 2.2% | −6.7 pts | −241K sh | −76% |
| Reduced | ISHARES 1-3 YEAR TREASURY BO (SHY) | 8.7% | 1.2% | −7.5 pts | −241K sh | −85% |
| New | INVESCO QQQ TRUST SERIES 1 (QQQ) | — | 6.5% | +6.5 pts | +45,165 sh | new |
| New | LOEWS CORP (L) | — | 1.8% | +1.8 pts | +71,771 sh | new |
| Reduced | THE CIGNA GROUP (CI) | 2.6% | 0.9% | −1.7 pts | −15,452 sh | −65% |
| Exited | MARATHON PETROLEUM CORP (MPC) | 1.5% | — | −1.5 pts | −25,739 sh | −100% |
| Exited | EXXON MOBIL CORP (XOM) | 1.3% | — | −1.3 pts | −29,725 sh | −100% |
| Exited | VALERO ENERGY CORP (VLO) | 1.3% | — | −1.3 pts | −23,818 sh | −100% |
| Exited | PHILLIPS 66 (PSX) | 1.3% | — | −1.3 pts | −27,629 sh | −100% |
| Exited | COTERRA ENERGY INC (CTRA) | 1.2% | — | −1.2 pts | −121K sh | −100% |
| New | ISHARES 3-7 YEAR TREASURY BO (IEI) | — | 1.2% | +1.2 pts | +29,779 sh | new |
| New | ISHARES 7-10 YEAR TREASURY B (IEF) | — | 1.2% | +1.2 pts | +36,184 sh | new |
| Exited | CONOCOPHILLIPS (COP) | 1.2% | — | −1.2 pts | −26,976 sh | −100% |
| Reduced | MCKESSON CORP (MCK) | 2.1% | 0.8% | −1.2 pts | −7,391 sh | −59% |
| New | ISHARES MSCI AUSTRALIA ETF (EWA) | — | 1.2% | +1.2 pts | +137K sh | new |
| Exited | AFLAC INC (AFL) | 1.2% | — | −1.2 pts | −40,183 sh | −100% |
| Increased | PACCAR INC (PCAR) | 1.1% | 2.4% | +1.2 pts | +33,430 sh | +94% |
| Exited | PROGRESSIVE CORP (PGR) | 1.1% | — | −1.1 pts | −21,472 sh | −100% |
| Exited | MARATHON OIL CORP (MRO) | 1.1% | — | −1.1 pts | −111K sh | −100% |
| New | SIMPLIFY MBS ETF (MTBA) | — | 1.1% | +1.1 pts | +61,750 sh | new |
| New | ARCH CAPITAL GROUP LTD (ACGL) | — | 1.1% | +1.1 pts | +41,915 sh | new |
| Exited | OCCIDENTAL PETROLEUM CORP (OXY) | 1.1% | — | −1.1 pts | −43,536 sh | −100% |
| Exited | CHEVRON CORP (CVX) | 1.1% | — | −1.1 pts | −16,526 sh | −100% |
| New | COSTCO WHOLESALE CORP (COST) | — | 1.1% | +1.1 pts | +4,524 sh | new |
| Exited | AMGEN INC (AMGN) | 1.0% | — | −1.0 pts | −10,168 sh | −100% |
| New | BROADRIDGE FINANCIAL SOLUTIO (BR) | — | 1.0% | +1.0 pts | +14,185 sh | new |
| New | JPMORGAN CHASE & CO (JPM) | — | 1.0% | +1.0 pts | +17,143 sh | new |
| Reduced | EQT CORP (EQT) | 2.0% | 0.8% | −1.3 pts | −75,018 sh | −57% |
| Exited | APA CORP (APA) | 1.0% | — | −1.0 pts | −63,844 sh | −100% |
| Exited | DIAMONDBACK ENERGY INC (FANG) | 1.0% | — | −1.0 pts | −16,919 sh | −100% |
| New | COPART INC (CPRT) | — | 1.0% | +1.0 pts | +57,051 sh | new |
| Exited | GLOBE LIFE INC (GL) | 1.0% | — | −1.0 pts | −23,677 sh | −100% |
| New | REPUBLIC SERVICES INC (RSG) | — | 1.0% | +1.0 pts | +16,766 sh | new |
| New | CME GROUP INC (CME) | — | 1.0% | +1.0 pts | +13,089 sh | new |
| New | VISA INC-CLASS A SHARES (V) | — | 1.0% | +1.0 pts | +10,575 sh | new |
| New | ROPER TECHNOLOGIES INC (ROP) | — | 1.0% | +1.0 pts | +5,046 sh | new |
| Exited | JOHNSON & JOHNSON (JNJ) | 1.0% | — | −1.0 pts | −16,273 sh | −100% |
| Increased | DELTA AIR LINES INC (DAL) | 1.0% | 2.0% | +1.0 pts | +67,759 sh | +95% |
| New | CBOE GLOBAL MARKETS INC (CBOE) | — | 1.0% | +1.0 pts | +15,135 sh | new |
| New | KRANESHARES CSI CHINA INTERN (KWEB) | — | 1.0% | +1.0 pts | +100K sh | new |
| Exited | HEWLETT PACKARD ENTERPRISE (HPE) | 0.9% | — | −0.9 pts | −143K sh | −100% |
| Increased | UNITED RENTALS INC (URI) | 1.0% | 2.2% | +1.1 pts | +4,609 sh | +76% |
| Exited | PIONEER NATURAL RESOURCES CO (PXD) | 0.9% | — | −0.9 pts | −10,525 sh | −100% |
| Increased | EVEREST GROUP LTD (EG) | 0.8% | 1.6% | +0.8 pts | +7,268 sh | +129% |
| Increased | FORD MOTOR CO (F) | 0.9% | 1.7% | +0.8 pts | +208K sh | +115% |
| New | ARTHUR J GALLAGHER & CO (AJG) | — | 0.9% | +0.9 pts | +11,219 sh | new |
| Exited | JACK HENRY & ASSOCIATES INC (JKHY) | 0.9% | — | −0.9 pts | −15,410 sh | −100% |
| Exited | AMERICAN INTERNATIONAL GROUP (AIG) | 0.9% | — | −0.9 pts | −37,597 sh | −100% |
| New | CELANESE CORP (CE) | — | 0.9% | +0.9 pts | +15,822 sh | new |
| Increased | PULTEGROUP INC (PHM) | 1.1% | 2.2% | +1.2 pts | +23,684 sh | +62% |
The 50 largest of 175 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 — 25.0% of the equity book
Changes in the top 10 this quarter: QQQ entered · PCAR entered · PHM entered · URI entered · DAL entered · L entered · UAL entered · SHY left · CI left · MCK left · EQT left · MPC left · AGNC left · XOM left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | INVESCO QQQ TRUST SERIES 1 (QQQ) | 0.0% | 6.5% | Entered the top 10 |
| 2 | PACCAR INC (PCAR) | 1.1% | 2.4% | Entered the top 10 |
| 3 | CARDINAL HEALTH INC (CAH) | 2.0% | 2.3% | |
| 4 | PULTEGROUP INC (PHM) | 1.1% | 2.2% | Entered the top 10 |
| 5 | INVESCO S&P 500 PURE VALUE E (RPV) | 8.9% | 2.2% | |
| 6 | UNITED RENTALS INC (URI) | 1.0% | 2.2% | Entered the top 10 |
| 7 | DELTA AIR LINES INC (DAL) | 1.0% | 2.0% | Entered the top 10 |
| 8 | LOEWS CORP (L) | 0.0% | 1.8% | Entered the top 10 |
| 9 | UNITED AIRLINES HOLDINGS INC (UAL) | 1.0% | 1.7% | Entered the top 10 |
| 10 | ANNALY CAPITAL MANAGEMENT IN (NLY) | 1.4% | 1.7% | |
| — | ISHARES 1-3 YEAR TREASURY BO (SHY) | 8.7% | 1.2% | Left the top 10 |
| — | THE CIGNA GROUP (CI) | 2.6% | 0.9% | Left the top 10 |
| — | MCKESSON CORP (MCK) | 2.1% | 0.8% | Left the top 10 |
| — | EQT CORP (EQT) | 2.0% | 0.8% | Left the top 10 |
| — | MARATHON PETROLEUM CORP (MPC) | 1.5% | 0.0% | Left the top 10 |
| — | AGNC INVESTMENT CORP (AGNC) | 1.4% | 1.7% | Left the top 10 |
| — | EXXON MOBIL CORP (XOM) | 1.3% | 0.0% | 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).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | ALIBABA GROUP HOLDING-SP ADR (BABA) | Call | 0 | 500K | $38.8M |
| New | KRANESHARES CSI CHINA INTERN (KWEB) | Call | 0 | 500K | $13.5M |
| Exited | ISHARES CHINA LARGE-CAP ETF (NYC) | Call | 500K | 0 | $0 |
| New | ISHARES CHINA LARGE-CAP ETF (FXI) | Call | 0 | 500K | $12M |
| Exited | PAYPAL HOLDINGS INC (PYPL) | Call | 125K | 0 | $0 |