Mount Lucas Management LP — Q3 2025 13F Holdings

Name: Mount Lucas Management LP — 13F Holdings, Q3 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001185072

Total reported value

$270.8M

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	11.80%	-2.80%	EXIT
2	EWZ	Ishares Msci Brazil ETF	ETF-Other	4.73%	+3.06%	-17.94%
3	RKT	Rocket Cos Inc-class A	Stock-Financials	2.66%	-0.80%	—
4	INTC	Intel CORP	Stock-Tech	2.51%	+0.20%	+21.67%
5	AGNC	Agnc Investment CORP	Stock-Real Estate	1.84%	-0.99%	-19.94%
6	NLY	Annaly Capital Management In	Stock-Real Estate	1.80%	-1.18%	EXIT
7	BBJP	Jpmorgan Betabuilders Japan	ETF-Other	1.55%	—	-0.50%
8	EWA	Ishares Msci Australia ETF	ETF-Other	1.51%	—	-0.25%
9	CWB	Ss Spdr Bb Conv Sec ETF	ETF-Other	1.23%	—	-2.05%
10	PFF	Ishares Preferred & Income S	ETF-Other	1.18%	—	—
11	BKLN	Invesco Senior Loan ETF	ETF-Other	1.18%	—	+5.73%
12	REM	Ishares Mortgage Real Estate	ETF-Other	1.15%	-0.69%	—
13	VYM	Vanguard High Dvd Yield ETF	ETF-Other	1.14%	—	-1.78%
14	EMB	Ishares Jp Morgan Usd Emergi	ETF-Other	1.13%	—	+2.01%
15	IEF	Ishares 7-10 Year Treasury B	ETF-Gov Bonds	1.13%	+1.09%	-42.49%
16	PBP	Invesco S&p 500 Buywrite ETF	ETF-Large Cap & Growth	1.13%	—	+4.02%
17	FOXA	Fox CORP - Class A	Stock-Comm Services	1.13%	-1.27%	EXIT
18	SHY	Ishares 1-3 Year Treasury Bo	ETF-Gov Bonds	1.13%	+1.11%	-41.77%
19	IEI	Ishares 3-7 Year Treasury Bo	ETF-Gov Bonds	1.13%	+1.10%	-42.27%
20	EMHY	Ishares J.p. Morgan Em High	ETF-Other	1.12%	—	+2.16%
21	DWX	State Street Spdr S&p Intern	ETF-Other	1.12%	—	+2.67%
22	PGR	Progressive CORP	Stock-Financials	0.96%	-0.48%	-4.63%
23	QQQM	Invesco Nasdaq 100 ETF	ETF-Tech	0.93%	—	-5.27%
24	ACGL	Arch Capital Group Ltd.	Stock-Financials	0.88%	—	+58.10%
25	NEM	Newmont CORP	Stock-Materials	0.88%	—	-4.94%
26	T	At&t INC	Stock-Comm Services	0.88%	+0.49%	+1.97%
27	COR	Cencora INC	Stock-Healthcare	0.84%	—	+0.09%
28	BNY	Bank Of New York Mellon CORP	Stock-Financials	0.84%	—	+3.48%
29	WELL	Welltower INC	Stock-Real Estate	0.83%	-0.85%	EXIT
30	MET	Metlife INC	Stock-Financials	0.83%	—	-3.38%
31	UAL	United Airlines Holdings INC	Stock-Industrials	0.81%	—	-5.24%
32	FALN	Ishares Fallen Angels ETF	ETF-Other	0.80%	—	+3.08%
33	HYGV	Flexshares High Yield Value	ETF-High Yield	0.79%	—	+4.58%
34	JNK	Ss Spdr Bb High Yield Bond	ETF-High Yield	0.79%	—	+4.38%
35	GHYG	Ishares Us&intl High Yield C	ETF-High Yield	0.79%	—	+3.65%
36	SHYG	Ishares 0-5 Yr Hy CORP Bond	ETF-Corp Bonds	0.79%	—	+4.70%
37	GM	General Motors Co	Stock-Consumer Disc	0.71%	-0.53%	-2.61%
38	CCL1EUR	Carnival CORP LTD	Stock-Consumer Disc	0.69%	—	-2.81%
39	AEM	Agnico Eagle Mines LTD	Stock-Materials	0.68%	—	-6.95%
40	WMB	Williams Cos INC	Stock-Energy	0.67%	-0.62%	EXIT
41	WMT	Walmart INC	Stock-Consumer Staples	0.66%	-0.70%	EXIT
42	NTRS	Northern Trust CORP	Stock-Financials	0.65%	-0.39%	-4.16%
43	HOOD	Robinhood Markets INC - A	Stock-Financials	0.64%	-0.49%	EXIT
44	DAL	Delta Air Lines INC	Stock-Industrials	0.63%	—	-2.48%
45	WAB	Wabtec CORP	Stock-Industrials	0.61%	-0.63%	EXIT
46	KMI	Kinder Morgan INC	Stock-Energy	0.60%	-0.57%	EXIT
47	CSCO	Cisco Systems INC	Stock-Tech	0.60%	—	+3.56%
48	VNQI	Vanguard Glbl Ex-us Real Est	ETF-Other	0.59%	—	-0.60%
49	NDAQ	Nasdaq INC	Stock-Financials	0.59%	—	+3.17%
50	VNQ	Vanguard Real Estate ETF	ETF-Other	0.58%	—	+95.94%

1–50 of 160

Holding changes this quarter

Position changes disclosed by Mount Lucas Management LP for the quarter ending Q3 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	QQQ	Invesco Qqq Trust Series 1	+4.1%	-3.42%	Trim
2	INTC	Intel CORP	+1.4%	+21.67%	Add
3	PFF	Ishares Preferred & Income S	+0.8%	—	Add
4	HOOD	Robinhood Markets INC - A	+0.5%	-7.21%	Trim
5	NLY	Annaly Capital Management In	0%	-25.58%	Trim
6	UHS	Universal Health Services-b	-0.2%	-2.76%	Trim
7	L	Loews CORP	-0.3%	-2.74%	Trim
8	DVA	Davita INC	-0.3%	-7.22%	Trim
9	CB	Chubb Limited	-0.3%	-2.68%	Trim
10	RFIX	Simplify Bond Bull ETF	-0.3%	-61.17%	Trim
11	WRB	Wr Berkley CORP	-0.3%	-2.74%	Trim
12	SYF	Synchrony Financial	-0.4%	-2.43%	Trim
13	HIG	Hartford Insurance Group INC	-1%	-2.49%	Trim
14	SHY	Ishares 1-3 Year Treasury Bo	-1.1%	-41.77%	Trim
15	IEF	Ishares 7-10 Year Treasury B	-1.1%	-42.49%	Trim
16	IEI	Ishares 3-7 Year Treasury Bo	-1.1%	-42.27%	Trim
17	KWEB	Kranesh Csi China Internet	—	EXIT	Sold out
18	ASHR	Xtrackers Harvest Csi 300 Ch	—	EXIT	Sold out
19	JD	Jd.com Inc-adr	—	EXIT	Sold out
20	RKT	Rocket Cos Inc-class A	—	NEW	New buy
21	EWA	Ishares Msci Australia ETF	—	NEW	New buy
22	NEM	Newmont CORP	—	NEW	New buy
23	T	At&t INC	—	NEW	New buy
24	COR	Cencora INC	—	NEW	New buy
25	TMUS	T-mobile US INC	—	EXIT	Sold out
26	BRO	Brown & Brown INC	—	EXIT	Sold out
27	ADP	Automatic Data Processing	—	EXIT	Sold out
28	JPM	Jpmorgan Chase & Co	—	EXIT	Sold out
29	CTAS	Cintas CORP	—	EXIT	Sold out
30	MCK	Mckesson CORP	—	EXIT	Sold out
31	TJX	Tjx Companies INC	—	EXIT	Sold out
32	CSCO	Cisco Systems INC	—	NEW	New buy
33	COST	Costco Wholesale CORP	—	EXIT	Sold out
34	NDAQ	Nasdaq INC	—	NEW	New buy
35	ABT	Abbott Laboratories	—	NEW	New buy
36	VRSN	Verisign INC	—	NEW	New buy
37	CME	Cme Group INC	—	NEW	New buy
38	TRGP	Targa Resources CORP	—	EXIT	Sold out
39	CAH	Cardinal Health INC	—	NEW	New buy
40	FTAI	FTAI Aviation Ltd.	—	NEW	New buy
41	ICE	Intercontinental Exchange In	—	NEW	New buy
42	APH	Amphenol Corp-cl A	—	EXIT	Sold out
43	COF	Capital One Financial CORP	—	NEW	New buy
44	WW	Ww International Inc-new	—	NEW	New buy
45	IVZ	Invesco Ltd.	—	NEW	New buy
46	EWY	Ishares Msci South Korea ETF	—	NEW	New buy
47	EWW	Ishares Msci Mexico ETF	—	NEW	New buy
48	EWT	Ishares Msci Taiwan ETF	—	NEW	New buy
49	AIZ	Assurant INC	—	EXIT	Sold out
50	EWM	Ishares Msci Malaysia ETF	—	NEW	New buy