Mount Lucas Management LP's Q4 2025 13F: 9 new positions, 1 exit
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Feb 5, 2026 · 167 reported positions · accession 0001140361-26-003806
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | INVESCO QQQ TRUST SERIES 1 (QQQ) | 13.0% | 3.1% | −9.9 pts | −36,445 sh | −76% |
| New | INVESCO S&P 500 PURE VALUE E (RPV) | — | 9.5% | +9.5 pts | +208K sh | new |
| Reduced | ANNALY CAPITAL MANAGEMENT IN (NLY) | 2.0% | 1.3% | −0.7 pts | −85,000 sh | −39% |
| Reduced | AGNC INVESTMENT CORP (AGNC) | 2.0% | 1.3% | −0.7 pts | −177K sh | −39% |
| New | ISHARES RUSSELL 1000 VALUE E (IWD) | — | 0.8% | +0.8 pts | +8,407 sh | new |
| Reduced | INVESCO NASDAQ 100 ETF (QQQM) | 1.0% | 0.3% | −0.8 pts | −6,813 sh | −75% |
| New | MOLINA HEALTHCARE INC (MOH) | — | 0.7% | +0.7 pts | +9,500 sh | new |
| New | AUTOMATIC DATA PROCESSING (ADP) | — | 0.6% | +0.6 pts | +4,896 sh | new |
| New | ISHARES MSCI INDONESIA ETF (EIDO) | — | 0.4% | +0.4 pts | +51,639 sh | new |
| New | ISHARES MSCI INDIA ETF (INDA) | — | 0.4% | +0.4 pts | +17,477 sh | new |
| New | TIC SOLUTIONS INC (TIC) | — | 0.4% | +0.4 pts | +80,000 sh | new |
| Reduced | ISHARES 7-10 YEAR TREASURY B (IEF) | 1.2% | 0.9% | −0.4 pts | −8,093 sh | −28% |
| Reduced | ISHARES 3-7 YEAR TREASURY BO (IEI) | 1.2% | 0.9% | −0.4 pts | −6,350 sh | −28% |
| Reduced | ISHARES 1-3 YEAR TREASURY BO (SHY) | 1.2% | 0.9% | −0.4 pts | −9,074 sh | −27% |
| Increased | ISHARES MSCI TURKEY ETF (TUR) | 0.1% | 0.4% | +0.3 pts | +19,618 sh | +316% |
| New | ENTRAVISION COMMUNICATIONS-A (EVC) | — | 0.2% | +0.2 pts | +173K sh | new |
| Reduced | ARCH CAPITAL GROUP LTD (ACGL) | 1.0% | 0.3% | −0.6 pts | −4,853 sh | −38% |
| Increased | ISHARES MSCI AUSTRALIA ETF (EWA) | 1.7% | 1.7% | +0.1 pts | +13,533 sh | +10% |
| Increased | ONCOLOGY INSTITUTE INC/THE (DFPH) | 0.3% | 0.4% | +0.1 pts | +89,500 sh | +56% |
| Increased | WW INTERNATIONAL INC-NEW (WW) | 0.5% | 0.6% | +0.2 pts | +10,000 sh | +25% |
| New | TERRESTRIAL ENERGY INC (IMSR) | — | 0.1% | +0.1 pts | +40,000 sh | new |
| Reduced | BLEND LABS INC-A (BLND) | 0.3% | 0.2% | −0.2 pts | −72,000 sh | −36% |
| Exited | INOTIV INC (NOTV) | 0.1% | — | −0.1 pts | −144K sh | −100% |
| Increased | FTAI AVIATION LTD (FTAI) | 0.6% | 0.8% | +0.2 pts | +1,000 sh | +13% |
| Reduced | ISHARES MSCI SOUTH KOREA ETF (EWY) | 0.5% | 0.5% | 0.0 pts | −2,007 sh | −16% |
| Increased | ISHARES PREFERRED & INCOME S (PFF) | 1.3% | 1.3% | 0.0 pts | +5,425 sh | +6% |
| Reduced | ISHARES MSCI PERU AND GLOBAL (EPU) | 0.5% | 0.5% | 0.0 pts | −2,213 sh | −13% |
| Increased | ISHARES MORTGAGE REAL ESTATE (REM) | 1.3% | 1.3% | +0.1 pts | +6,584 sh | +5% |
| Increased | JPMORGAN BETABUILDERS JAPAN (BBJP) | 1.7% | 1.7% | 0.0 pts | +1,860 sh | +3% |
| Increased | INVESCO SENIOR LOAN ETF (BKLN) | 1.3% | 1.3% | 0.0 pts | +5,436 sh | +4% |
| Reduced | ISHARES MSCI CHILE ETF (ECH) | 0.4% | 0.5% | 0.0 pts | −2,702 sh | −10% |
| Reduced | VERSABANK (VBNK) | 0.2% | 0.2% | 0.0 pts | −6,800 sh | −23% |
| Increased | ISHARES US&INTL HIGH YIELD C (GHYG) | 0.9% | 0.9% | 0.0 pts | +2,102 sh | +5% |
| Increased | VANGUARD GLBL EX-US REAL EST (VNQI) | 0.7% | 0.7% | 0.0 pts | +2,038 sh | +7% |
| Increased | ISHARES 0-5 YR HY CORP BOND (SHYG) | 0.9% | 0.9% | 0.0 pts | +2,148 sh | +5% |
| Increased | ISHARES NATIONAL MUNI BOND E (MUB) | 0.3% | 0.4% | 0.0 pts | +845 sh | +12% |
| Increased | FLEXSHARES HIGH YIELD VALUE (HYGV) | 0.9% | 0.9% | 0.0 pts | +2,079 sh | +4% |
| Increased | SS SPDR BB HIGH YIELD BOND (JNK) | 0.9% | 0.9% | 0.0 pts | +842 sh | +4% |
| Increased | STATE STREET SPDR S&P INTERN (DWX) | 1.2% | 1.3% | 0.0 pts | +1,817 sh | +3% |
| Increased | ISHARES J.P. MORGAN EM HIGH (EMHY) | 1.2% | 1.3% | 0.0 pts | +1,745 sh | +3% |
| Increased | ISHARES FALLEN ANGELS ETF (FALN) | 0.9% | 0.9% | 0.0 pts | +2,477 sh | +4% |
| Reduced | ISHARES MSCI SOUTH AFRICA ET (EZA) | 0.5% | 0.5% | 0.0 pts | −948 sh | −6% |
| Reduced | ISHARES MSCI BRAZIL ETF (EWZ) | 0.7% | 0.7% | 0.0 pts | −1,946 sh | −4% |
| Increased | VANGUARD REAL ESTATE ETF (VNQ) | 0.6% | 0.6% | 0.0 pts | +659 sh | +4% |
| Increased | ISHARES MSCI GERMANY ETF (EWG) | 0.4% | 0.4% | 0.0 pts | +1,248 sh | +6% |
| Reduced | NU HOLDINGS LTD/CAYMAN ISL-A (NU) | 0.4% | 0.3% | 0.0 pts | −2,900 sh | −6% |
| Reduced | ISHARES MSCI MEXICO ETF (EWW) | 0.5% | 0.4% | 0.0 pts | −645 sh | −4% |
| Increased | ISHARES JP MORGAN USD EMERGI (EMB) | 1.2% | 1.3% | 0.0 pts | +418 sh | +1% |
| Increased | SCHWAB U.S. TIPS ETF (SCHP) | 0.4% | 0.4% | 0.0 pts | +1,379 sh | +5% |
| Increased | SS SPDR BB IG FLOAT RT ETF (FLRN) | 0.4% | 0.4% | 0.0 pts | +1,104 sh | +4% |
The 50 largest of 165 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 — 24.1% of the equity book
Changes in the top 10 this quarter: RPV entered · FOXA entered · CWB left · VYM left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | INVESCO S&P 500 PURE VALUE E (RPV) | 0.0% | 9.5% | Entered the top 10 |
| 2 | INVESCO QQQ TRUST SERIES 1 (QQQ) | 13.0% | 3.1% | |
| 3 | ISHARES MSCI AUSTRALIA ETF (EWA) | 1.7% | 1.7% | |
| 4 | JPMORGAN BETABUILDERS JAPAN (BBJP) | 1.7% | 1.7% | |
| 5 | FOX CORP - CLASS A (FOXA) | 1.2% | 1.4% | Entered the top 10 |
| 6 | AGNC INVESTMENT CORP (AGNC) | 2.0% | 1.3% | |
| 7 | INVESCO SENIOR LOAN ETF (BKLN) | 1.3% | 1.3% | |
| 8 | ISHARES PREFERRED & INCOME S (PFF) | 1.3% | 1.3% | |
| 9 | ISHARES MORTGAGE REAL ESTATE (REM) | 1.3% | 1.3% | |
| 10 | ANNALY CAPITAL MANAGEMENT IN (NLY) | 2.0% | 1.3% | |
| — | SS SPDR BB CONV SEC ETF (CWB) | 1.4% | 1.3% | Left the top 10 |
| — | VANGUARD HIGH DVD YIELD ETF (VYM) | 1.2% | 1.2% | 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 | IREN LTD (IREN) | Call | 0 | 100K | $3.78M |
| Reduced | INTEL CORP (INTC) | Call | 183K | 125K | $4.61M |
| Reduced | ROCKET COS INC-CLASS A (RKT) | Call | 300K | 290K | $5.61M |