LA
Lummis Asset Management, LP 13F Holdings Tracker (Q2 2026)
Lummis Asset Management, LPCIK: 0002011652
Diversified strategyLong-term holderQuality / disciplined sizing
Total reported value
$167.2M
Reporting period: 2026-06-30 · Number of holdings: 221
Lummis Asset Management, LP disclosed 221 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $167.2M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 16.6
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 41.41
- Diversification
- 100
- Sizing Uniformity
- 71.35
Lummis Asset Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.042 — mathematically equivalent to about 24 equally-sized positions, well below its 221 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.87), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim MTDR
-1.2% -$4.9M
Add AAPL
-1.9% $2.2M
Trim PEP
-43.9% -$1.4M
Trim VPL
-96.7% -$1.3M
Add AYI
-1.3% $669.9K
Add GOLF
-90.2% $634.6K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 221 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MTDR | Matador Resources Co | Stock-Energy | 9.66% | -2.92% | -1.15% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 9.53% | +1.32% | -1.89% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 7.82% | +0.38% | -1.44% | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 6.46% | +0.33% | -1.29% | |
| 5 | BRK-B | Berkshire Hathaway Inc. | Stock-Other | 4.77% | +0.30% | +0.85% | |
| 6 | GD | General Dynamics CORP | Stock-Industrials | 3.06% | +0.13% | -1.12% | |
| 7 | BSM | Black Stone Minerals LP | Stock-Other | 3.04% | +0.10% | — | |
| 8 | GS | Goldman Sachs Group Inc | Stock-Financials | 2.94% | +0.38% | -1.53% | |
| 9 | ROST | Ross Stores Inc | Stock-Consumer Disc | 2.72% | — | -2.85% | |
| 10 | GOLF | Acushnet Holdings CORP | Stock-Other | 2.62% | +0.38% | -90.22% | |
| 11 | ORCL | Oracle CORP | Stock-Tech | 2.42% | -0.25% | -2.31% | |
| 12 | TFPM | Triple Flag Precious Met | Stock-Materials | 2.34% | -0.19% | +5.18% | |
| 13 | EQIX | Equinix Inc | Stock-Real Estate | 2.33% | -0.08% | — | |
| 14 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 2.04% | +0.19% | -0.05% | |
| 15 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.96% | +0.14% | -0.19% | |
| 16 | AYI | Acuity Inc | Stock-Industrials | 1.89% | +0.41% | -1.25% | |
| 17 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.85% | +0.36% | +0.04% | |
| 18 | XOM | Exxon Mobil CORP | Stock-Energy | 1.84% | -0.12% | -0.69% | |
| 19 | AIG | American International Group | Stock-Financials | 1.82% | -0.01% | -0.98% | |
| 20 | AMRZ | Amrize Ltd | Stock-Materials | 1.82% | +0.19% | +19.32% | |
| 21 | ABT | Abbott Laboratories | Stock-Healthcare | 1.71% | — | -1.31% | |
| 22 | WFC | Wells Fargo & Co | Stock-Financials | 1.53% | +0.04% | -1.07% | |
| 23 | AMT | American Tower CORP | Stock-Real Estate | 1.49% | -0.08% | — | |
| 24 | SCHW | Schwab (charles) CORP | Stock-Financials | 1.05% | +0.04% | -1.65% | |
| 25 | DORM | Dorman Products Inc | Stock-Consumer Disc | 1.04% | -0.22% | -34.74% | |
| 26 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.03% | +0.08% | -1.42% | |
| 27 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.01% | +0.06% | +0.47% | |
| 28 | DG | Dollar General CORP | Stock-Consumer Staples | 0.99% | +0.01% | -1.44% | |
| 29 | ABBV | Abbvie Inc | Stock-Healthcare | 0.96% | +0.17% | — | |
| 30 | DVN | Devon Energy CORP | Stock-Energy | 0.92% | -0.20% | -27.61% | |
| 31 | VGK | Vanguard Ftse Europe ETF | ETF-Other | 0.89% | +0.08% | +1.42% | |
| 32 | VXUS | Vanguard Total Intl Stock | ETF-Other | 0.87% | +0.09% | +1.11% | |
| 33 | COP | Conocophillips | Stock-Energy | 0.84% | -0.12% | -1.74% | |
| 34 | AMGN | Amgen Inc | Stock-Healthcare | 0.79% | +0.08% | — | |
| 35 | PEP | Pepsico Inc | Stock-Consumer Staples | 0.78% | -0.83% | -43.89% | |
| 36 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.70% | +0.14% | — | |
| 37 | CVX | Chevron CORP | Stock-Energy | 0.69% | — | +0.02% | |
| 38 | SCHO | Schwab Short-term US Treas | ETF-Other | 0.64% | -0.04% | -5.76% | |
| 39 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.60% | +0.01% | +4.52% | |
| 40 | WMB | Williams Cos Inc | Stock-Energy | 0.60% | -0.01% | -3.92% | |
| 41 | FFIN | First Finl Bankshares Inc | Stock-Financials | 0.51% | +0.05% | -0.11% | |
| 42 | ITW | Illinois Tool Works | Stock-Industrials | 0.50% | +0.03% | — | |
| 43 | SSBUSD | Southstate Bank CORP | Stock-Other | 0.50% | +0.03% | -1.45% | |
| 44 | CSCO | Cisco Systems Inc | Stock-Tech | 0.46% | +0.09% | +0.25% | |
| 45 | WTM | White Mountains Insurance Group, Ltd. | Stock-Financials | 0.41% | -0.02% | — | |
| 46 | PSX | Phillips 66 | Stock-Energy | 0.38% | +0.06% | — | |
| 47 | RTX | Rtx CORP | Stock-Industrials | 0.35% | +0.06% | +0.52% | |
| 48 | ADP | Automatic Data Processing | Stock-Tech | 0.31% | +0.06% | -0.54% | |
| 49 | APH | Amphenol Corp-cl A | Stock-Tech | 0.29% | +0.07% | -3.29% | |
| 50 | LMT | Lockheed Martin CORP | Stock-Industrials | 0.28% | +0.01% | -0.48% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+3.3%
Performance Last 4 Quarters
+19.4%
- Stdev
- +9.8%
- Beta
- +0.63
- Alpha
- +2.6%
- Max Drawdown
- -9.8%
- Annualized Perf
- +14.6%
- Batting Avg vs S&P
- +40%
- Sortino
- +2.77
- Stutzer
- +0.42
- Treynor
- +0.23
- Sterling
- +0.93
- Calmar
- +1.49
- Information Ratio
- -0.56
- Tracking Error
- +7.7%
- Stdev Down
- +5.1%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +34.2%
- Worst 12 Months
- +1.2%
- Efficiency Ratio
- +0.53
- Sharpe
- +1.45
- Stdev Sectors
- +6.5%
- Skewness
- -0.33
- Kurtosis
- -0.71
- Upside Potential
- +4.39
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Lummis Asset Management, LP's most significant position changes for 2026-06-30: Sold out: Pfizer Inc (PFE); Sold out: Bunge Global SA (BG); New buy: Bunge Global SA (BG); New buy: ; New buy: AB Emrg Mrkt Opportuniti ETF (EMOP).
Showing top 200 changes by size (of 234 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AAPL | Apple Inc | +1.3% | -1.89% | Trim |
| 2 | AYI | Acuity Inc | +0.4% | -1.25% | Trim |
| 3 | GOLF | Acushnet Holdings CORP | +0.4% | -90.22% | Trim |
| 4 | GS | Goldman Sachs Group Inc | +0.4% | -1.53% | Trim |
| 5 | MSFT | Microsoft CORP | +0.4% | -1.44% | Trim |
| 6 | LLY | Eli Lilly & Co | +0.4% | +0.04% | Add |
| 7 | GOOG | Alphabet Inc-cl C | +0.3% | -1.29% | Trim |
| 8 | BRK-B | Berkshire Hathaway Inc. | +0.3% | +0.85% | Add |
| 9 | AMRZ | Amrize Ltd | +0.2% | +19.32% | Add |
| 10 | TMO | Thermo Fisher Scientific Inc | +0.2% | -0.05% | Trim |
| 11 | ABBV | Abbvie Inc | +0.2% | — | Unchanged |
| 12 | JNJ | Johnson & Johnson | +0.1% | -0.19% | Trim |
| 13 | GOOGL | Alphabet Inc-cl A | +0.1% | — | Unchanged |
| 14 | GD | General Dynamics CORP | +0.1% | -1.12% | Trim |
| 15 | BSM | Black Stone Minerals LP | +0.1% | — | Unchanged |
| 16 | VXUS | Vanguard Total Intl Stock | +0.1% | +1.11% | Add |
| 17 | CSCO | Cisco Systems Inc | +0.1% | +0.25% | Add |
| 18 | AMGN | Amgen Inc | +0.1% | — | Unchanged |
| 19 | KO | Coca-cola Co/the | +0.1% | -1.42% | Trim |
| 20 | VGK | Vanguard Ftse Europe ETF | +0.1% | +1.42% | Add |
| 21 | APH | Amphenol Corp-cl A | +0.1% | -3.29% | Trim |
| 22 | BG | Bunge Global SA | +0.1% | NEW | New buy |
| 23 | RTX | Rtx CORP | +0.1% | +0.52% | Add |
| 24 | AMZN | Amazon.com Inc | +0.1% | +0.47% | Add |
| 25 | PSX | Phillips 66 | +0.1% | — | Unchanged |
| 26 | ADP | Automatic Data Processing | +0.1% | -0.54% | Trim |
| 27 | FFIN | First Finl Bankshares Inc | +0.1% | -0.11% | Trim |
| 28 | WFC | Wells Fargo & Co | 0% | -1.07% | Trim |
| 29 | SCHW | Schwab (charles) CORP | 0% | -1.65% | Trim |
| 30 | ITW | Illinois Tool Works | 0% | — | Unchanged |
| 31 | SSBUSD | Southstate Bank CORP | 0% | -1.45% | Trim |
| 32 | VTI | Vanguard Total Stock Mkt ETF | 0% | — | Unchanged |
| 33 | ✓ | 0% | NEW | New buy | |
| 34 | UNH | Unitedhealth Group Inc | 0% | +2.81% | Add |
| 35 | EMOP | AB Emrg Mrkt Opportuniti ETF | 0% | NEW | New buy |
| 36 | BBVA | Banco Bilbao Vizcaya-sp Adr | 0% | — | Unchanged |
| 37 | JPM | Jpmorgan Chase & Co | 0% | — | Unchanged |
| 38 | NVDA | Nvidia CORP | 0% | +16.12% | Add |
| 39 | LUV | Southwest Airlines Co | 0% | — | Unchanged |
| 40 | UL | Unilever PLC | 0% | -0.36% | Trim |
| 41 | PG | Procter & Gamble Co/the | 0% | +4.52% | Add |
| 42 | CVS | Cvs Health CORP | 0% | — | Unchanged |
| 43 | MU | Micron Technology Inc | 0% | +5.56% | Add |
| 44 | DG | Dollar General CORP | 0% | -1.44% | Trim |
| 45 | V | Visa Inc-class A Shares | 0% | +6.11% | Add |
| 46 | TXN | Texas Instruments Inc | 0% | +0.79% | Add |
| 47 | VWO | Vanguard Ftse Emerging Marke | 0% | NEW | New buy |
| 48 | IP | International Paper Co | 0% | — | Unchanged |
| 49 | VRT | Vertiv Holdings Co-a | 0% | — | Unchanged |
| 50 | KMB | Kimberly-clark CORP | 0% | — | Unchanged |
1–50 of 200
Filing History
FAQ
What is Lummis Asset Management, LP and what type of investor is it?
Lummis Asset Management, LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $167.2M, spread across 221 disclosed positions.
What are Lummis Asset Management, LP's largest equity positions?
Based on the latest 13F filing, Lummis Asset Management, LP's top holdings by market value are:
1. Matador Resources Co (MTDR) — $16.2M (9.7%)
2. Apple Inc (AAPL) — $15.9M (9.5%)
3. Microsoft CORP (MSFT) — $13.1M (7.8%)
4. Alphabet Inc-cl C (GOOG) — $10.8M (6.5%)
5. Berkshire Hathaway Inc. (BRK-B) — $8.0M (4.8%)
What changes did Lummis Asset Management, LP make in its most recent portfolio filing?
In the latest reported quarter, Lummis Asset Management, LP made 117 notable position adjustments: 37 new positions were initiated, 32 existing holdings were added to, 36 positions were partially reduced, and 12 were completely exited. The largest of these moves: Sold out: Pfizer Inc (PFE); Sold out: Bunge Global SA (BG); New buy: Bunge Global SA (BG); New buy: ; New buy: AB Emrg Mrkt Opportuniti ETF (EMOP)
What sectors does Lummis Asset Management, LP focus on?
Lummis Asset Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 24.7%
• Energy: 17.7%
• Health Care: 11.2%
• Financials: 10.3%
• Communication Services: 8.5%
• Industrials: 7.3%
Investment Profile
Lummis Asset Management, LP returned an annualized 14.6% over the trailing 30 months — outperforming the S&P 500 by 2.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.63 (less volatile than the market) and a 40% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its GOLF position over the past two quarters (+$955.9K, now $4.4M), while trimming ORCL over the same stretch (-$2.1M, still holding $4.1M).
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