Mount Lucas Management LP's Q1 2026 13F: 39 new positions, 41 exits
Form 13F-HR for the quarter ended Mar 31, 2026 · filed May 5, 2026 · 165 reported positions · accession 0001140361-26-019022
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | ISHARES MSCI BRAZIL ETF (EWZ) | 0.7% | 7.8% | +7.1 pts | +498K sh | +1004% |
| New | ADOBE INC (ADBE) | — | 3.1% | +3.1 pts | +35,000 sh | new |
| Exited | INVESCO QQQ TRUST SERIES 1 (QQQ) | 3.1% | — | −3.1 pts | −11,402 sh | −100% |
| Increased | INVESCO S&P 500 PURE VALUE E (RPV) | 9.5% | 11.1% | +1.5 pts | +71,050 sh | +34% |
| New | INTEL CORP (INTC) | — | 2.0% | +2.0 pts | +125K sh | new |
| New | NEBIUS GROUP NV (NBIS) | — | 1.5% | +1.5 pts | +40,000 sh | new |
| Increased | ROCKET COS INC-CLASS A (RKT) | 0.3% | 1.7% | +1.4 pts | +290K sh | +879% |
| Exited | FOX CORP - CLASS A (FOXA) | 1.4% | — | −1.4 pts | −43,623 sh | −100% |
| Exited | ANNALY CAPITAL MANAGEMENT IN (NLY) | 1.3% | — | −1.3 pts | −132K sh | −100% |
| New | IREN LTD (IREN) | — | 1.3% | +1.3 pts | +100K sh | new |
| Increased | ISHARES 1-3 YEAR TREASURY BO (SHY) | 0.9% | 1.9% | +1.0 pts | +38,685 sh | +161% |
| Increased | ISHARES 3-7 YEAR TREASURY BO (IEI) | 0.9% | 1.9% | +1.0 pts | +26,614 sh | +160% |
| Increased | ISHARES 7-10 YEAR TREASURY B (IEF) | 0.9% | 1.9% | +1.0 pts | +32,760 sh | +160% |
| Exited | WELLTOWER INC (WELL) | 0.9% | — | −0.9 pts | −11,396 sh | −100% |
| Reduced | AGNC INVESTMENT CORP (AGNC) | 1.3% | 0.2% | −1.1 pts | −223K sh | −80% |
| Exited | WALMART INC (WMT) | 0.8% | — | −0.8 pts | −15,668 sh | −100% |
| New | JOHNSON & JOHNSON (JNJ) | — | 0.8% | +0.8 pts | +8,494 sh | new |
| Exited | WABTEC CORP (WAB) | 0.7% | — | −0.7 pts | −7,436 sh | −100% |
| New | VENTAS INC (VTR) | — | 0.7% | +0.7 pts | +23,179 sh | new |
| New | CBOE GLOBAL MARKETS INC (CBOE) | — | 0.7% | +0.7 pts | +6,634 sh | new |
| Exited | WILLIAMS COS INC (WMB) | 0.7% | — | −0.7 pts | −25,725 sh | −100% |
| New | L3HARRIS TECHNOLOGIES INC (LHX) | — | 0.7% | +0.7 pts | +5,157 sh | new |
| New | TJX COMPANIES INC (TJX) | — | 0.6% | +0.6 pts | +10,977 sh | new |
| Increased | LOEWS CORP (L) | 0.4% | 1.0% | +0.6 pts | +16,381 sh | +191% |
| Exited | KINDER MORGAN INC (KMI) | 0.6% | — | −0.6 pts | −52,049 sh | −100% |
| New | GENERAL DYNAMICS CORP (GD) | — | 0.6% | +0.6 pts | +4,902 sh | new |
| New | MONSTER BEVERAGE CORP (MNST) | — | 0.6% | +0.6 pts | +22,334 sh | new |
| Exited | PACKAGING CORP OF AMERICA (PKG) | 0.6% | — | −0.6 pts | −6,343 sh | −100% |
| New | ROLLINS INC (ROL) | — | 0.6% | +0.6 pts | +28,547 sh | new |
| Increased | HCA HEALTHCARE INC (HCA) | 0.4% | 0.9% | +0.5 pts | +3,209 sh | +175% |
| Reduced | ISHARES MORTGAGE REAL ESTATE (REM) | 1.3% | 0.5% | −0.8 pts | −70,608 sh | −53% |
| Exited | AUTOMATIC DATA PROCESSING (ADP) | 0.6% | — | −0.6 pts | −4,896 sh | −100% |
| Exited | ROBINHOOD MARKETS INC - A (HOOD) | 0.5% | — | −0.5 pts | −10,739 sh | −100% |
| Exited | MOTOROLA SOLUTIONS INC (MSI) | 0.5% | — | −0.5 pts | −3,058 sh | −100% |
| New | DOLLAR GENERAL CORP (DG) | — | 0.5% | +0.5 pts | +10,538 sh | new |
| New | FORD MOTOR CO (F) | — | 0.5% | +0.5 pts | +107K sh | new |
| New | MARATHON PETROLEUM CORP (MPC) | — | 0.5% | +0.5 pts | +5,032 sh | new |
| Exited | FREDDIE MAC (FMCC) | 0.4% | — | −0.4 pts | −99,017 sh | −100% |
| Increased | AT&T INC (T) | 0.8% | 1.2% | +0.4 pts | +40,146 sh | +53% |
| Exited | ISHARES MSCI INDONESIA ETF (EIDO) | 0.4% | — | −0.4 pts | −51,639 sh | −100% |
| Exited | ISHARES MSCI INDIA ETF (INDA) | 0.4% | — | −0.4 pts | −17,477 sh | −100% |
| Exited | ISHARES CHINA LARGE-CAP ETF (FXI) | 0.4% | — | −0.4 pts | −24,413 sh | −100% |
| Increased | VERIZON COMMUNICATIONS INC (VZ) | 0.3% | 0.7% | +0.4 pts | +22,110 sh | +129% |
| Exited | COMFORT SYSTEMS USA INC (FIX) | 0.4% | — | −0.4 pts | −964 sh | −100% |
| Exited | ISHARES MSCI GERMANY ETF (EWG) | 0.4% | — | −0.4 pts | −20,770 sh | −100% |
| New | ARCHER-DANIELS-MIDLAND CO (ADM) | — | 0.4% | +0.4 pts | +14,336 sh | new |
| Reduced | GENERAL MOTORS CO (GM) | 1.0% | 0.4% | −0.6 pts | −13,872 sh | −49% |
| Exited | CINCINNATI FINANCIAL CORP (CINF) | 0.4% | — | −0.4 pts | −5,154 sh | −100% |
| Exited | CHUBB LTD (CB) | 0.4% | — | −0.4 pts | −2,681 sh | −100% |
| Exited | HEWLETT PACKARD ENTERPRISE (HPE) | 0.4% | — | −0.4 pts | −33,930 sh | −100% |
The 50 largest of 197 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 — 34.3% of the equity book
Changes in the top 10 this quarter: EWZ entered · ADBE entered · INTC entered · SHY entered · IEI entered · IEF entered · RKT entered · NBIS entered · QQQ left · BBJP left · FOXA left · AGNC left · BKLN left · PFF left · REM left · NLY left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | INVESCO S&P 500 PURE VALUE E (RPV) | 9.5% | 11.1% | |
| 2 | ISHARES MSCI BRAZIL ETF (EWZ) | 0.7% | 7.8% | Entered the top 10 |
| 3 | ADOBE INC (ADBE) | 0.0% | 3.1% | Entered the top 10 |
| 4 | INTEL CORP (INTC) | 0.0% | 2.0% | Entered the top 10 |
| 5 | ISHARES 1-3 YEAR TREASURY BO (SHY) | 0.9% | 1.9% | Entered the top 10 |
| 6 | ISHARES 3-7 YEAR TREASURY BO (IEI) | 0.9% | 1.9% | Entered the top 10 |
| 7 | ISHARES 7-10 YEAR TREASURY B (IEF) | 0.9% | 1.9% | Entered the top 10 |
| 8 | ROCKET COS INC-CLASS A (RKT) | 0.3% | 1.7% | Entered the top 10 |
| 9 | NEBIUS GROUP NV (NBIS) | 0.0% | 1.5% | Entered the top 10 |
| 10 | ISHARES MSCI AUSTRALIA ETF (EWA) | 1.7% | 1.4% | |
| — | INVESCO QQQ TRUST SERIES 1 (QQQ) | 3.1% | 0.0% | Left the top 10 |
| — | JPMORGAN BETABUILDERS JAPAN (BBJP) | 1.7% | 1.4% | Left the top 10 |
| — | FOX CORP - CLASS A (FOXA) | 1.4% | 0.0% | Left the top 10 |
| — | AGNC INVESTMENT CORP (AGNC) | 1.3% | 0.2% | Left the top 10 |
| — | INVESCO SENIOR LOAN ETF (BKLN) | 1.3% | 1.2% | Left the top 10 |
| — | ISHARES PREFERRED & INCOME S (PFF) | 1.3% | 0.9% | Left the top 10 |
| — | ISHARES MORTGAGE REAL ESTATE (REM) | 1.3% | 0.5% | Left the top 10 |
| — | ANNALY CAPITAL MANAGEMENT IN (NLY) | 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 |
|---|---|---|---|---|---|
| Exited | ISHARES MSCI BRAZIL ETF (EWZ) | Call | 320K | 0 | $0 |
| Exited | ROCKET COS INC-CLASS A (RKT) | Call | 290K | 0 | $0 |
| Exited | INTEL CORP (INTC) | Call | 125K | 0 | $0 |
| Exited | IREN LTD (IREN) | Call | 100K | 0 | $0 |