Mount Lucas Management LP's Q1 2025 13F: 49 new positions, 41 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed May 6, 2025 · 144 reported positions · accession 0001140361-25-017463
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | KRANESHARES CSI CHINA INTERN (KWEB) | 15.3% | — | −15.3 pts | −1.51M sh | −100% |
| New | INVESCO QQQ TRUST SERIES 1 (QQQ) | — | 11.3% | +11.3 pts | +51,317 sh | new |
| Exited | INVESCO S&P 500 PURE VALUE E (RPV) | 8.6% | — | −8.6 pts | −274K sh | −100% |
| Exited | XTRACKERS HARVEST CSI 300 CH (ASHR) | 6.5% | — | −6.5 pts | −700K sh | −100% |
| Exited | JD.COM INC-ADR (JD) | 4.8% | — | −4.8 pts | −400K sh | −100% |
| Reduced | ISHARES 1-3 YEAR TREASURY BO (SHY) | 5.7% | 3.2% | −2.4 pts | −116K sh | −58% |
| Increased | ISHARES 7-10 YEAR TREASURY B (IEF) | 0.7% | 3.2% | +2.5 pts | +48,571 sh | +209% |
| New | FOX CORP - CLASS A (FOXA) | — | 1.4% | +1.4 pts | +51,606 sh | new |
| Reduced | ISHARES 3-7 YEAR TREASURY BO (IEI) | 3.2% | 3.2% | 0.0 pts | −21,135 sh | −27% |
| Increased | JPMORGAN BETABUILDERS JAPAN (BBJP) | 0.4% | 1.7% | +1.2 pts | +41,388 sh | +192% |
| Reduced | COSTCO WHOLESALE CORP (COST) | 1.2% | 0.7% | −0.5 pts | −2,296 sh | −60% |
| Reduced | REPUBLIC SERVICES INC (RSG) | 1.1% | 0.8% | −0.3 pts | −8,577 sh | −55% |
| New | INVESCO NASDAQ 100 ETF (QQQM) | — | 0.9% | +0.9 pts | +10,171 sh | new |
| New | WELLTOWER INC (WELL) | — | 0.9% | +0.9 pts | +12,713 sh | new |
| Reduced | LOEWS CORP (L) | 1.2% | 0.9% | −0.3 pts | −19,716 sh | −48% |
| Reduced | JPMORGAN CHASE & CO (JPM) | 1.2% | 0.8% | −0.4 pts | −7,377 sh | −53% |
| Increased | PROGRESSIVE CORP (PGR) | 0.2% | 1.1% | +0.9 pts | +6,204 sh | +301% |
| New | WILLIAMS COS INC (WMB) | — | 0.8% | +0.8 pts | +28,328 sh | new |
| New | AUTOMATIC DATA PROCESSING (ADP) | — | 0.8% | +0.8 pts | +5,480 sh | new |
| Increased | ALLSTATE CORP (ALL) | 0.2% | 1.0% | +0.9 pts | +7,950 sh | +297% |
| New | KINDER MORGAN INC (KMI) | — | 0.8% | +0.8 pts | +56,925 sh | new |
| New | SIMPLIFY BOND BULL ETF (RFIX) | — | 0.8% | +0.8 pts | +30,000 sh | new |
| New | WALMART INC (WMT) | — | 0.7% | +0.7 pts | +17,580 sh | new |
| Reduced | UNITED AIRLINES HOLDINGS INC (UAL) | 1.4% | 0.7% | −0.8 pts | −22,222 sh | −52% |
| Increased | SPDR S&P INTER DVD ETF (DWX) | 0.4% | 1.3% | +0.9 pts | +39,957 sh | +129% |
| New | WABTEC CORP (WAB) | — | 0.7% | +0.7 pts | +8,370 sh | new |
| New | MOTOROLA SOLUTIONS INC (MSI) | — | 0.7% | +0.7 pts | +3,454 sh | new |
| Exited | ISHARES RUSSELL 1000 VALUE E (IWD) | 0.7% | — | −0.7 pts | −10,710 sh | −100% |
| Reduced | ISHARES PREFERRED & INCOME S (PFF) | 0.9% | 0.5% | −0.4 pts | −47,453 sh | −56% |
| Reduced | PACCAR INC (PCAR) | 0.8% | 0.4% | −0.5 pts | −14,589 sh | −66% |
| New | PACKAGING CORP OF AMERICA (PKG) | — | 0.7% | +0.7 pts | +7,080 sh | new |
| Exited | SIMPLIFY VOLATILITY PREMIUM (SVOL) | 0.6% | — | −0.6 pts | −86,264 sh | −100% |
| Exited | VISA INC-CLASS A SHARES (V) | 0.6% | — | −0.6 pts | −5,265 sh | −100% |
| Exited | COPART INC (CPRT) | 0.6% | — | −0.6 pts | −28,210 sh | −100% |
| Exited | BROADRIDGE FINANCIAL SOLUTIO (BR) | 0.6% | — | −0.6 pts | −7,116 sh | −100% |
| Exited | ARTHUR J GALLAGHER & CO (AJG) | 0.6% | — | −0.6 pts | −5,584 sh | −100% |
| Exited | CME GROUP INC (CME) | 0.5% | — | −0.5 pts | −6,722 sh | −100% |
| Reduced | EVEREST GROUP LTD (EG) | 0.7% | 0.4% | −0.3 pts | −3,134 sh | −60% |
| Increased | WR BERKLEY CORP (WRB) | 0.3% | 1.1% | +0.7 pts | +15,814 sh | +101% |
| Increased | ISHARES MORTGAGE REAL ESTATE (REM) | 0.5% | 1.2% | +0.7 pts | +49,322 sh | +74% |
| Exited | CBOE GLOBAL MARKETS INC (CBOE) | 0.5% | — | −0.5 pts | −7,555 sh | −100% |
| New | UWM HOLDINGS CORP (UWMC) | — | 0.5% | +0.5 pts | +191K sh | new |
| New | TRAVELERS COS INC/THE (TRV) | — | 0.5% | +0.5 pts | +3,906 sh | new |
| Increased | CHUBB LTD (CB) | 0.3% | 0.9% | +0.6 pts | +3,367 sh | +108% |
| Reduced | ASSURANT INC (AIZ) | 0.7% | 0.5% | −0.2 pts | −4,719 sh | −50% |
| New | CINCINNATI FINANCIAL CORP (CINF) | — | 0.5% | +0.5 pts | +6,664 sh | new |
| New | ISHARES MSCI POLAND ETF (EPOL) | — | 0.5% | +0.5 pts | +34,820 sh | new |
| Exited | ROPER TECHNOLOGIES INC (ROP) | 0.5% | — | −0.5 pts | −2,498 sh | −100% |
| Increased | UNIVERSAL HEALTH SERVICES-B (UHS) | 0.3% | 0.8% | +0.6 pts | +5,111 sh | +116% |
| New | ISHARES MSCI CHILE ETF (ECH) | — | 0.4% | +0.4 pts | +30,756 sh | new |
The 50 largest of 185 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 — 32.4% of the equity book
Changes in the top 10 this quarter: QQQ entered · IEF entered · BBJP entered · FOXA entered · DWX entered · KWEB left · RPV left · ASHR left · JD left · UAL left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | INVESCO QQQ TRUST SERIES 1 (QQQ) | 0.0% | 11.3% | Entered the top 10 |
| 2 | ISHARES 3-7 YEAR TREASURY BO (IEI) | 3.2% | 3.2% | |
| 3 | ISHARES 1-3 YEAR TREASURY BO (SHY) | 5.7% | 3.2% | |
| 4 | ISHARES 7-10 YEAR TREASURY B (IEF) | 0.7% | 3.2% | Entered the top 10 |
| 5 | ANNALY CAPITAL MANAGEMENT IN (NLY) | 1.7% | 2.7% | |
| 6 | AGNC INVESTMENT CORP (AGNC) | 1.7% | 2.5% | |
| 7 | HARTFORD INSURANCE GROUP INC (HIG) | 1.4% | 2.0% | |
| 8 | JPMORGAN BETABUILDERS JAPAN (BBJP) | 0.4% | 1.7% | Entered the top 10 |
| 9 | FOX CORP - CLASS A (FOXA) | 0.0% | 1.4% | Entered the top 10 |
| 10 | SPDR S&P INTER DVD ETF (DWX) | 0.4% | 1.3% | Entered the top 10 |
| — | KRANESHARES CSI CHINA INTERN (KWEB) | 15.3% | 0.0% | Left the top 10 |
| — | INVESCO S&P 500 PURE VALUE E (RPV) | 8.6% | 0.0% | Left the top 10 |
| — | XTRACKERS HARVEST CSI 300 CH (ASHR) | 6.5% | 0.0% | Left the top 10 |
| — | JD.COM INC-ADR (JD) | 4.8% | 0.0% | Left the top 10 |
| — | UNITED AIRLINES HOLDINGS INC (UAL) | 1.4% | 0.7% | 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).
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 | KRANESHARES CSI CHINA INTERN (KWEB) | Call | 0 | 1.42M | $49.6M |
| New | XTRACKERS HARVEST CSI 300 CH (ASHR) | Call | 0 | 700K | $18.6M |
| New | JD.COM INC-ADR (JD) | Call | 0 | 400K | $16.4M |
| New | ISHARES MSCI BRAZIL ETF (EWZ) | Call | 0 | 400K | $10.3M |
| New | INTEL CORP (INTC) | Call | 0 | 150K | $3.41M |