ML
Mount Lucas Management LP 13F Holdings & Position Changes (Q2 2026)
Mount Lucas Management LPCIK: 0001185072
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$280.7M
Reporting period: 2026-06-30 · Number of holdings: 168
Mount Lucas Management LP disclosed 168 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $280.7M and a quarterly turnover rate of 44.5%.
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Personality snowflake
- Concentration
- 7.08
- Portfolio Stability
- 44.48
- Momentum
- 100
- Sector conviction
- 48.24
- Diversification
- 100
- Sizing Uniformity
- 86.04
Mount Lucas Management LP's disclosed holdings carry a Herfindahl concentration index of 0.018 — mathematically equivalent to about 57 equally-sized positions, well below its 168 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 1.40), 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.
Sector classification currently covers about 40% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy QQQ
Trim RPV
-49.9% -$14.0M
Sold out INTC
Trim ADBE
-50.0% -$4.9M
Trim RKT
-89.8% -$4.1M
Add NBIS
-25.0% $4.1M
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 166 holdings (of 168 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | EWZ | Ishares Msci Brazil ETF | ETF-Other | 6.76% | -1.00% | +0.51% | |
| 2 | RPV | Invesco S&p 500 Pure Value E | ETF-Large Cap & Growth | 5.67% | -5.38% | -49.87% | |
| 3 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 5.56% | +5.56% | NEW | |
| 4 | NBIS | Nebius Group N.V. | Stock-Other | 2.95% | +1.42% | -25.00% | |
| 5 | SHY | Ishares 1-3 Year Treasury Bo | ETF-Gov Bonds | 2.47% | +0.56% | +34.74% | |
| 6 | IREN | IREN Limited | Stock-Other | 1.63% | +0.36% | — | |
| 7 | BBJP | Jpmorgan Betabuilders Japan | ETF-Other | 1.51% | +0.08% | +0.62% | |
| 8 | EWA | Ishares Msci Australia ETF | ETF-Other | 1.48% | +0.04% | +4.91% | |
| 9 | IEI | Ishares 3-7 Year Treasury Bo | ETF-Gov Bonds | 1.42% | -0.47% | -21.30% | |
| 10 | ADBE | Adobe Inc | Stock-Tech | 1.28% | -1.86% | -50.00% | |
| 11 | BKLN | Invesco Senior Loan ETF | ETF-Other | 1.18% | -0.05% | -0.52% | |
| 12 | CWB | Ss Spdr Bb Conv Sec ETF | ETF-Other | 1.18% | +0.01% | -11.98% | |
| 13 | PBP | Invesco S&p 500 Buywrite ETF | ETF-Large Cap & Growth | 1.13% | +0.01% | +0.56% | |
| 14 | EMHY | Ishares J.p. Morgan Em High | ETF-Other | 1.13% | +0.01% | +1.37% | |
| 15 | EMB | Ishares Jp Morgan Usd Emergi | ETF-Other | 1.13% | +0.01% | +2.18% | |
| 16 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 1.12% | +0.01% | -1.80% | |
| 17 | DWX | State Street Spdr S&p Intern | ETF-Other | 1.11% | +0.03% | +5.55% | |
| 18 | REM | Ishares Mortgage Real Estate | ETF-Other | 1.08% | +0.58% | +118.74% | |
| 19 | CAH | Cardinal Health Inc | Stock-Healthcare | 1.04% | +0.10% | +2.57% | |
| 20 | L | Loews CORP | Stock-Financials | 1.04% | +0.06% | +2.96% | |
| 21 | IVZ | Invesco Ltd. | Stock-Financials | 0.99% | +0.28% | +32.66% | |
| 22 | CSCO | Cisco Systems Inc | Stock-Tech | 0.96% | +0.33% | +3.78% | |
| 23 | DAL | Delta Air Lines Inc | Stock-Industrials | 0.93% | +0.26% | +2.54% | |
| 24 | PFF | Ishares Preferred & Income S | ETF-Other | 0.93% | -0.02% | +0.76% | |
| 25 | MU | Micron Technology Inc | Stock-Tech | 0.92% | +0.68% | +16.94% | |
| 26 | T | At&t Inc | Stock-Comm Services | 0.89% | -0.35% | +3.76% | |
| 27 | IEF | Ishares 7-10 Year Treasury B | ETF-Gov Bonds | 0.83% | -1.05% | -53.99% | |
| 28 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.80% | +0.03% | +3.78% | |
| 29 | FALN | Ishares Fallen Angels ETF | ETF-Other | 0.79% | — | +2.22% | |
| 30 | MNST | Monster Beverage CORP | Stock-Consumer Staples | 0.79% | +0.19% | +3.23% | |
| 31 | GL | Globe Life Inc | Stock-Financials | 0.79% | +0.17% | +2.51% | |
| 32 | HYGV | Flexshares High Yield Value | ETF-High Yield | 0.79% | -0.01% | +1.65% | |
| 33 | SHYG | Ishares 0-5 Yr Hy CORP Bond | ETF-Corp Bonds | 0.79% | -0.01% | +1.26% | |
| 34 | JNK | Ss Spdr Bb High Yield Bond | ETF-High Yield | 0.79% | -0.01% | +1.35% | |
| 35 | GHYG | Ishares Us&intl High Yield C | ETF-High Yield | 0.78% | -0.01% | +1.99% | |
| 36 | BNY | Bank Of New York Mellon CORP | Stock-Financials | 0.78% | +0.14% | +3.62% | |
| 37 | MOH | Molina Healthcare Inc | Stock-Healthcare | 0.77% | +0.30% | — | |
| 38 | VTR | Ventas Inc | Stock-Real Estate | 0.76% | +0.06% | +3.82% | |
| 39 | UAL | United Airlines Holdings Inc | Stock-Industrials | 0.75% | +0.19% | -4.97% | |
| 40 | HCA | Hca Healthcare Inc | Stock-Healthcare | 0.71% | -0.17% | +1.83% | |
| 41 | COR | Cencora Inc | Stock-Healthcare | 0.70% | -0.31% | -19.48% | |
| 42 | EVC | Entravision Communications-a | Stock-Other | 0.70% | +0.51% | -14.58% | |
| 43 | GD | General Dynamics CORP | Stock-Industrials | 0.64% | +0.02% | +3.59% | |
| 44 | NEM | Newmont CORP | Stock-Materials | 0.63% | -0.42% | -28.02% | |
| 45 | VZ | Verizon Communications Inc | Stock-Comm Services | 0.61% | -0.12% | +3.74% | |
| 46 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 0.61% | -0.04% | +3.53% | |
| 47 | ✓ | Carnival CORP LTD F | Stock-Other | 0.60% | +0.60% | NEW | |
| 48 | VNQ | Vanguard Real Estate ETF | ETF-Other | 0.60% | +0.36% | +132.51% | |
| 49 | CBOE | Cboe Global Markets Inc | Stock-Financials | 0.59% | -0.10% | +3.47% | |
| 50 | FTAI | FTAI Aviation Ltd. | Stock-Industrials | 0.58% | +0.04% | — |
1–50 of 166
Portfolio Performance
Performance for Q3 2026
+1.3%
Performance Last 4 Quarters
+21.1%
- Stdev
- +11.9%
- Beta
- +0.7
- Alpha
- +5.8%
- Max Drawdown
- -6%
- Annualized Perf
- +20.8%
- Batting Avg vs S&P
- +50%
- Sortino
- +3.36
- Stutzer
- +0.48
- Treynor
- +0.28
- Sterling
- +1.42
- Calmar
- +3.48
- Information Ratio
- -0.03
- Tracking Error
- +8.8%
- Stdev Down
- +5.9%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +31.7%
- Worst 12 Months
- +16.5%
- Efficiency Ratio
- +0.65
- Sharpe
- +1.65
- Stdev Sectors
- +7.8%
- Skewness
- -0.29
- Kurtosis
- -0.68
- Upside Potential
- +5.03
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 168 | $280.7M | 44 | ||
| 2026 Q1 | 167 | $270.8M | 59 | ||
| 2025 Q4 | 171 | $250.0M | 33 | ||
| 2025 Q3 | 163 | $243.5M | 91 | ||
| 2025 Q2 | 159 | $234.6M | 0 | ||
| 2025 Q1 | 150 | $311.0M | 100 | ||
| 2024 Q4 | 137 | $287.3M | 0 | ||
| 2024 Q3 | 146 | $293.6M | 0 | ||
| 2024 Q2 | 158 | $349.4M | 0 | ||
| 2024 Q1 | 145 | $366.0M | 0 | ||
| 2023 Q4 | 142 | $347.6M | 0 | ||
| 2023 Q3 | 129 | $283.1M | 0 | ||
| 2023 Q2 | 139 | $299.1M | 0 | ||
| 2023 Q1 | 113 | $378.8M | 0 | ||
| 2022 Q4 | 107 | $305.2M | 0 | ||
| 2022 Q3 | 93 | $290.4M | 0 | ||
| 2022 Q2 | 90 | $298.6M | 0 | ||
| 2022 Q1 | 111 | $343.3M | 0 | ||
| 2021 Q4 | 129 | $349.9M | 0 | ||
| 2021 Q3 | 108 | $331.0M | 0 | ||
| 2021 Q2 | 111 | $376.1M | 100 | ||
| 2021 Q1 | 111 | $339.7M | 61 | ||
| 2020 Q4 | 114 | $475.2M | 100 | ||
| 2020 Q3 | 77 | $479.7M | 28 | ||
| 2020 Q2 | 65 | $505.1M | 82 | ||
| 2020 Q1 | 41 | $486.1M | 100 | ||
| 2019 Q4 | 90 | $501.8M | 24 | ||
| 2019 Q3 | 140 | $558.2M | 59 | ||
| 2019 Q2 | 132 | $591.0M | 23 | ||
| 2019 Q1 | 124 | $604.3M | 100 | ||
| 2018 Q4 | 93 | $788.1M | 95 | ||
| 2018 Q3 | 105 | $681.9M | 52 | ||
| 2018 Q2 | 109 | $660.0M | 51 | ||
| 2018 Q1 | 122 | $621.7M | 73 | ||
| 2017 Q4 | 138 | $578.6M | 10 | ||
| 2017 Q3 | 137 | $554.3M | 61 | ||
| 2017 Q2 | 177 | $531.2M | 18 | ||
| 2017 Q1 | 177 | $502.1M | 67 | ||
| 2016 Q4 | 182 | $527.1M | 33 | ||
| 2016 Q3 | 194 | $561.9M | 72 | ||
| 2016 Q2 | 175 | $588.7M | 29 | ||
| 2016 Q1 | 155 | $575.2M | 75 | ||
| 2015 Q4 | 153 | $675.0M | 56 | ||
| 2015 Q3 | 128 | $792.4M | 100 | ||
| 2015 Q2 | 140 | $521.5M | 36 | ||
| 2015 Q1 | 140 | $562.4M | 100 | ||
| 2014 Q4 | 122 | $903.0M | 66 | ||
| 2014 Q3 | 123 | $578.2M | 100 | ||
| 2014 Q2 | 150 | $761.8M | 33 | ||
| 2014 Q1 | 124 | $729.6M | 100 | ||
| 2013 Q4 | 130 | $457.9M | 26 | ||
| 2013 Q3 | 118 | $455.0M | 100 | ||
| 2013 Q2 | 109 | $439.8M | — |
Holding changes this quarter
Mount Lucas Management LP's most significant position changes for 2026-06-30: New buy: Invesco Qqq Trust Series 1 (QQQ); Sold out: Intel CORP (INTC); New buy: Carnival CORP LTD F; Sold out: Carnival CORP LTD (CCL1EUR); New buy: Invesco Nasdaq 100 ETF (QQQM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | +5.6% | NEW | New buy |
| 2 | NBIS | Nebius Group N.V. | +1.4% | -25.00% | Trim |
| 3 | MU | Micron Technology Inc | +0.7% | +16.94% | Add |
| 4 | ✓ | Carnival CORP LTD F | +0.6% | NEW | New buy |
| 5 | REM | Ishares Mortgage Real Estate | +0.6% | +118.74% | Add |
| 6 | SHY | Ishares 1-3 Year Treasury Bo | +0.6% | +34.74% | Add |
| 7 | EVC | Entravision Communications-a | +0.5% | -14.58% | Trim |
| 8 | QQQM | Invesco Nasdaq 100 ETF | +0.5% | NEW | New buy |
| 9 | ASR | Grupo Aeroportuario Sur-adr | +0.4% | NEW | New buy |
| 10 | DDI | Doubledown Interactive -adr | +0.4% | NEW | New buy |
| 11 | IREN | IREN Limited | +0.4% | — | Unchanged |
| 12 | VNQ | Vanguard Real Estate ETF | +0.4% | +132.51% | Add |
| 13 | CSCO | Cisco Systems Inc | +0.3% | +3.78% | Add |
| 14 | AMD | Advanced Micro Devices | +0.3% | +43.02% | Add |
| 15 | IAG | Iamgold CORP | +0.3% | NEW | New buy |
| 16 | ✓ | Auna S A | +0.3% | NEW | New buy |
| 17 | TD | Toronto-dominion Bank | +0.3% | +87.32% | Add |
| 18 | MOH | Molina Healthcare Inc | +0.3% | — | Unchanged |
| 19 | PAAS | Pan American Silver CORP | +0.3% | +340.79% | Add |
| 20 | IVZ | Invesco Ltd. | +0.3% | +32.66% | Add |
| 21 | AAL | American Airlines Group Inc | +0.3% | NEW | New buy |
| 22 | CRDO | Credo Technology Group Holding Ltd | +0.3% | +61.23% | Add |
| 23 | EWQ | Ishares Msci France ETF | +0.3% | +349.66% | Add |
| 24 | LUV | Southwest Airlines Co | +0.3% | NEW | New buy |
| 25 | HUM | Humana Inc | +0.3% | NEW | New buy |
| 26 | DAL | Delta Air Lines Inc | +0.3% | +2.54% | Add |
| 27 | CNC | Centene CORP | +0.3% | NEW | New buy |
| 28 | SANM | Sanmina CORP | +0.3% | NEW | New buy |
| 29 | DELL | Dell Technologies -c | +0.3% | NEW | New buy |
| 30 | EVR | Evercore Inc - A | +0.2% | +107.37% | Add |
| 31 | HL | Hecla Mining Co | +0.2% | NEW | New buy |
| 32 | FIVE | Five Below | +0.2% | NEW | New buy |
| 33 | HPE | Hewlett Packard Enterprise | +0.2% | NEW | New buy |
| 34 | STX | Seagate Technology Holdings plc | +0.2% | -0.09% | Trim |
| 35 | AG | First Majestic Silver CORP | +0.2% | NEW | New buy |
| 36 | TOI | Oncology Institute Inc/the | +0.2% | — | Unchanged |
| 37 | UAL | United Airlines Holdings Inc | +0.2% | -4.97% | Trim |
| 38 | MNST | Monster Beverage CORP | +0.2% | +3.23% | Add |
| 39 | CDE | Coeur Mining Inc | +0.2% | +121.04% | Add |
| 40 | NU | Nu Holdings Ltd. | +0.2% | +91.08% | Add |
| 41 | GL | Globe Life Inc | +0.2% | +2.51% | Add |
| 42 | ALAB | Astera Labs Inc | +0.2% | NEW | New buy |
| 43 | BNY | Bank Of New York Mellon CORP | +0.1% | +3.62% | Add |
| 44 | TER | Teradyne Inc | +0.1% | NEW | New buy |
| 45 | EWG | Ishares Msci Germany ETF | +0.1% | NEW | New buy |
| 46 | SITM | Sitime CORP | +0.1% | NEW | New buy |
| 47 | CVS | Cvs Health CORP | +0.1% | +3.14% | Add |
| 48 | IMSR | Terrestrial Energy Inc | +0.1% | +80.58% | Add |
| 49 | AAOI | Applied Optoelectronics Inc | +0.1% | NEW | New buy |
| 50 | EQX | Equinox Gold CORP | +0.1% | NEW | New buy |
1–50 of 188
Filing History
FAQ
What is Mount Lucas Management LP and what type of investor is it?
Mount Lucas 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 $280.7M, spread across 168 disclosed positions.
What are Mount Lucas Management LP's largest equity positions?
Based on the latest 13F filing, Mount Lucas Management LP's top holdings by market value are:
1. Ishares Msci Brazil ETF (EWZ) — $19.0M (6.8%)
2. Invesco S&p 500 Pure Value E (RPV) — $15.9M (5.7%)
3. Invesco Qqq Trust Series 1 (QQQ) — $15.6M (5.6%)
4. Nebius Group N.V. (NBIS) — $8.3M (3.0%)
5. Ishares 1-3 Year Treasury Bo (SHY) — $6.9M (2.5%)
What changes did Mount Lucas Management LP make in its most recent portfolio filing?
In the latest reported quarter, Mount Lucas Management LP made 179 notable position adjustments: 23 new positions were initiated, 95 existing holdings were added to, 39 positions were partially reduced, and 22 were completely exited. The largest of these moves: New buy: Invesco Qqq Trust Series 1 (QQQ); Sold out: Intel CORP (INTC); New buy: Carnival CORP LTD F; Sold out: Carnival CORP LTD (CCL1EUR); New buy: Invesco Nasdaq 100 ETF (QQQM)
What sectors does Mount Lucas Management LP focus on?
Mount Lucas Management LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 28.8%
• Information Technology: 15.9%
• Health Care: 15.0%
• Industrials: 11.7%
• Materials: 8.3%
• Consumer Discretionary: 6.6%
Investment Profile
Mount Lucas Management LP returned an annualized 20.8% over the trailing 36 months — outperforming the S&P 500 by 5.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.70 (less volatile than the market) and a 50% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 44 over the past 4 quarters — a shift toward more active trading.
It has added to its SHY position over the past two quarters (+$4.9M, now $6.9M), while trimming RKT over the same stretch (-$5.7M, still holding $519.8K).
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Developer Access
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REST API
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