Lummis Asset Management, LP

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 6, 2024), Lummis Asset Management, LP reported 146 stock positions worth $85.6 million. Its top holding was Apple (AAPL) at 11.3% of the portfolio, followed by Matador Resources (MTDR, 11.0%) and Microsoft (MSFT, 8.2%). Compared with Q2 2024, it opened 5 new positions, sold out of 13, added to 37 and reduced 12. The biggest buy was Triple Flag Precious Met (TFPM, shares +105%) and the biggest sale an exit from Academy Sports & Outdoors (ASO).

Most Recent 13F
Q2 2026
Location
FORT WORTH, TX
CIK
0002011652
Portfolio Value
$85.6M (Q3 2024)
SEC Filing
0002011652-24-000004 ↗ filed Nov 6, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $74.6M Q1 2024 Q2 2024: $75.7M Q2 2024 Q3 2024: $85.6M $85.6M Q3 2024 Q4 2024: $78.9M Q4 2024 Q1 2025: $144.0M Q1 2025 Q2 2025: $152.9M Q2 2025 Q3 2025: $152.3M Q3 2025 Q4 2025: $162.6M Q4 2025 Q1 2026: $167.3M Q1 2026 Q2 2026: $167.2M Q2 2026

Holdings 146 stocks · $85.6M
AAPL Apple Inc. 11.30% 41,518 $9.7M Add +6.3%
MTDR Matador Resources Co. 11.03% 191,102 $9.4M Add +24.7%
MSFT Microsoft Corp. 8.21% 16,339 $7.0M Add +23.3%
BERKSHIRE HATHAWAY INC 5.59% 10,397 $4.8M Add +16.7%
ORCL Oracle Corp. 4.93% 24,789 $4.2M Add +4.4%
GOOG Alphabet Inc. Class C 4.16% 21,313 $3.6M Add +12.4%
GD General Dynamics Corp. 3.66% 10,368 $3.1M Add +32.6%
AMT American Tower Corp. 3.26% 12,012 $2.8M No change
TMO Thermo Fisher Scientific Inc. 2.81% 3,891 $2.4M Add +28.4%
ROST Ross Stores Inc. 2.78% 15,795 $2.4M Add +9.4%
AIG American International Group 2.68% 31,319 $2.3M Add +5.1%
GOLF Acushnet Holdings Corp. 2.57% 34,497 $2.2M Add +11.6%
GS Goldman Sachs Group Inc. 2.28% 3,946 $2.0M Reduce -0.4%
PEP Pepsico Inc. 2.26% 11,376 $1.9M Reduce -0.6%
ABT Abbott Laboratories 2.24% 16,840 $1.9M Add +20.1%
AYI Acuity Inc. 2.18% 6,776 $1.9M Add +0.2%
SCHO Schwab Short-Term US Treas 2.07% 36,108 $1.8M Reduce -3.7%
TFPM Triple Flag Precious Met 1.85% 98,129 $1.6M Add +104.9%
WFC Wells Fargo & Co. 1.85% 28,074 $1.6M Add +0.7%
GTX Garrett Motion Inc. 1.67% 175,150 $1.4M Add +49.1%
MIDD Middleby Corp. 1.46% 8,979 $1.2M Add +2.2%
DVN Devon Energy Corp. 1.40% 30,736 $1.2M Add +2.3%
KO The Coca-Cola Co. 1.25% 14,905 $1.1M Add +0.3%
JNJ Johnson & Johnson 1.18% 6,255 $1.0M No change
VGK Vanguard Ftse Europe ETF 1.15% 13,806 $982K Add +1.7%
AMZN Amazon.com Inc. 1.10% 5,041 $939K No change
XOM Exxon Mobil Corp. 1.05% 7,678 $900K Reduce -0.1%
VXUS Vanguard Total Intl Stock 0.99% 13,070 $846K Add +2.0%
DG Dollar General Corp. 0.94% 9,506 $804K Add +0.9%
SCHW Schwab (charles) Corp. 0.91% 11,969 $776K Reduce -0.7%
WMB Williams Cos Inc. 0.78% 14,628 $668K Add +3.4%
SSB Southstate Bank Corp. 0.76% 6,696 $651K Add +0.6%
GOOGL Alphabet Inc. Class A 0.66% 3,384 $561K Reduce -0.9%
FFIN First Finl Bankshares Inc. 0.54% 12,465 $461K No change
VTI VG Morningstar TS MKT ETF-US 0.53% 1,595 $452K Reduce -1.9%
COP Conocophillips 0.51% 4,159 $438K Reduce -1.3%
O Realty Income Corp. 0.40% 5,457 $346K No change
XEL Xcel Energy Inc. 0.38% 4,949 $323K No change
ITW Illinois Tool Works 0.31% 1,015 $266K New
APH Amphenol Corp. Class A 0.25% 3,318 $216K Reduce -2.2%
NUV Nuveen Municipal Value 0.23% 22,000 $198K No change
BSV Vanguard Short-Term Bond ETF 0.23% 2,460 $194K No change
JPM JPMorgan Chase & Co. 0.21% 858 $181K Add +371.4%
BN Brookfield Corp. 0.20% 3,211 $171K No change
ATO Atmos Energy Corp. 0.18% 1,128 $156K No change
CET Central Securities Corp. 0.16% 3,036 $139K No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.16% 780 $139K New
ADP Automatic Data Processing 0.16% 499 $138K No change
LMT Lockheed Martin Corp. 0.16% 229 $134K Add +5625.0%
SHY iShares 1-3 Year Treasury Bo 0.15% 1,595 $133K No change
GLD SPDR Gold Shares 0.15% 525 $128K Add +0.8%
MCD McDonald's Corp. 0.10% 282 $86K Reduce -6.6%
VOO Vanguard S&P 500 ETF 0.08% 133 $70K Add +850.0%
ET Energy Transfer LP 0.08% 4,070 $65K No change
FDS Factset Research Systems Inc. 0.08% 140 $64K No change
V Visa Inc. Class A 0.07% 227 $62K No change
MDLZ Mondelez International Inc. Class A 0.07% 825 $61K No change
DUK Duke Energy Corp. 0.07% 500 $58K No change
KMB Kimberly-Clark Corp. 0.07% 400 $57K No change
EPD Enterprise Products Partners 0.07% 1,932 $56K Reduce -10.2%
MINT PIMCO Enhanced Short Maturit 0.06% 541 $54K No change
MSI Motorola Solutions Inc. 0.06% 117 $53K No change
PG The Procter & Gamble Co. 0.06% 293 $51K No change
NVDA Nvidia Corp. 0.06% 400 $49K No change
BSM Black Stone Minerals LP 0.05% 2,995 $45K Add +24.0%
LUV Southwest Airlines Co. 0.05% 1,500 $44K No change
CFR Cullen/Frost Bankers Inc. 0.05% 397 $44K No change
TPG TPG Inc. 0.05% 758 $44K No change
BN Brookfield Asset Mgmt Inc. 0.04% 797 $38K No change
VEA Vanguard Ftse Developed ETF 0.04% 646 $34K New
META Meta Platforms Inc. Class A 0.04% 57 $33K No change
ACN Accenture PLC Class A 0.04% 87 $31K No change
ADSK Autodesk Inc. 0.04% 111 $31K No change
UNH Unitedhealth Group Inc. 0.03% 46 $27K No change
HHH Howard Hughes Holdings Inc. 0.03% 340 $26K No change
TXN Texas Instruments Inc. 0.03% 127 $26K No change
FISV Fiserv Inc. 0.03% 129 $23K No change
PBT Permian Basin Royalty Trust 0.03% 1,850 $22K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.02% 532 $21K No change
PSX Phillips 66 0.02% 150 $20K No change
MDT Medtronic PLC 0.02% 213 $19K No change
WMT Walmart Inc. 0.02% 234 $19K No change
CVX Chevron Corp. 0.02% 127 $19K No change
PGR Progressive Corp. 0.02% 73 $19K No change
IDXX Idexx Laboratories Inc. 0.02% 35 $18K No change
APA Apa Corp. 0.02% 700 $17K No change
HD Home Depot Inc. 0.02% 41 $17K No change
DHR Danaher Corp. 0.02% 59 $16K No change
ETN Eaton Corporation 0.02% 48 $16K No change
AZO AutoZone Inc. 0.02% 5 $16K No change
AON PLC filed as AON Corporation 0.02% 43 $15K No change
VRT Vertiv Holdings Co. Class A 0.02% 142 $14K Add +26.8%
CTSH Cognizant Tech Solutions-A 0.02% 180 $14K No change
VRTX Vertex Pharmaceuticals Inc. 0.02% 29 $13K No change
BND Vanguard Total Bond Market 0.01% 169 $13K No change
BKNG Booking Holdings Inc. 0.01% 3 $13K No change
AVGO Broadcom Inc. 0.01% 70 $12K No change
RTX RTX Corp. 0.01% 92 $11K No change
VWO Vanguard Ftse Emerging Marke 0.01% 207 $10K Add +459.5%
ELV Elevance Health Inc. 0.01% 18 $9K No change
LIN Linde PLC 0.01% 19 $9K No change
COST Costco Wholesale Corp. 0.01% 10 $9K No change
NSRGY Nestle SA-Spons ADR 0.01% 87 $9K No change
CSX CSX Corp. 0.01% 229 $8K No change
ZTS Zoetis Inc. 0.01% 40 $8K No change
NXPI NXP Semiconductors NV 0.01% 30 $7K No change
QCOM Qualcomm Inc. 0.01% 42 $7K No change
EOG EOG Resources Inc. 0.01% 58 $7K No change
MRK Merck & Co Inc 0.01% 49 $6K No change
LLY Eli Lilly & Co. 0.01% 6 $5K No change
REGN Regeneron Pharmaceuticals 0.01% 5 $5K No change
STEL Stellar Bancorp Inc. 0.01% 200 $5K No change
NEE Nextera Energy Inc. 0.01% 61 $5K No change
FWONK Liberty Media Corp.-Liberty-C 0.01% 65 $5K Add +12.1%
ADBE Adobe Inc. 0.01% 9 $5K No change
CRM Salesforce Inc. 0.01% 16 $4K Add +14.3%
ABBV Abbvie Inc. 0.00% 20 $4K No change
LUNMF Lundin Mining Corp. 0.00% 353 $4K Add +26.1%
SWN Southwestern Energy Co. 0.00% 500 $4K No change
EW Edwards Lifesciences Corp. 0.00% 53 $3K No change
ORLY O'reilly Automotive Inc. 0.00% 3 $3K No change
PAYX Paychex Inc. 0.00% 22 $3K No change
PM Philip Morris International 0.00% 23 $3K No change
PLD Prologis Inc. 0.00% 21 $3K No change
URI United Rentals Inc. 0.00% 3 $2K No change
SLV iShares Silver Trust 0.00% 85 $2K New
ICE Intercontinental Exchange Inc. filed as Intrcontinentalexchange 0.00% 15 $2K No change
GE General Electric Company 0.00% 12 $2K No change
VLTO Veralto Corp. 0.00% 19 $2K No change
ALGN Align Technology Inc. 0.00% 8 $2K No change
TCEHY Tencent Holdings Ltd.-Uns ADR 0.00% 36 $2K Add +28.6%
MA Mastercard Inc. Class A 0.00% 4 $2K No change
FECCF Frontera Energy Corp. 0.00% 328 $2K Add +23.3%
MRSH Marsh & McLennan Cos 0.00% 8 $2K No change
IR Ingersoll-Rand Inc. 0.00% 15 $1K No change
CBOE Cboe Global Markets Inc. 0.00% 6 $1K No change
UAL United Airlines Holdings Inc. 0.00% 21 $1K Add +16.7%
NERD Roundhill Video Games ETF 0.00% 65 $1K No change
NOC Northrop Grumman Corp. 0.00% 2 $1K No change
HON Honeywell International Inc. 0.00% 5 $1K No change
SEG Seaport Entertainment Group 0.00% 36 $987 Reduce -4.6%
FUN Six Flags Entertainment Corp. 0.00% 24 $967 New
GEV GE Vernova Inc. 0.00% 3 $765 No change
CME Cme Group Inc. 0.00% 3 $662 No change
GEHC GE Healthcare Technology 0.00% 4 $375 No change
LLYVK Liberty Media Corp.-Liberty-C 0.00% 2 $103 No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $106 (not counted above)
SecurityClassShares / PrincipalValueChange
SEAPORT ENTERTAINMENT GR-RTS RIGHT 10/10/2024 36$106New

Total filed on the 13F, all lines: $85.6M.

Portfolio Sells Q2 2024 → Q3 2024
ASO Academy Sports & Outdoors Inc. Sold out 0.00% −1.16
SCHO Schwab Short-Term US Treas Reduce -3.7% 2.07% −0.32
SCHW Schwab (charles) Corp. Reduce -0.7% 0.91% −0.27
PEP Pepsico Inc. Reduce -0.6% 2.26% −0.23
GOOGL Alphabet Inc. Class A Reduce -0.9% 0.66% −0.17
COP Conocophillips Reduce -1.3% 0.51% −0.13
XOM Exxon Mobil Corp. Reduce -0.1% 1.05% −0.12
GS Goldman Sachs Group Inc. Reduce -0.4% 2.28% −0.08
APH Amphenol Corp. Class A Reduce -2.2% 0.25% −0.05
VTI VG Morningstar TS MKT ETF-US Reduce -1.9% 0.53% −0.05
SRUUF Sprott Physical Uranium TR Sold out 0.00% −0.02
EPD Enterprise Products Partners Reduce -10.2% 0.07% −0.02
URNM Sprott Uranium Miners ETF Sold out 0.00% −0.01
CCJ Cameco Corp. Sold out 0.00% −0.01
OTIS Otis Worldwide Corp. Sold out 0.00% −0.01
NKE Nike Inc. Class B Sold out 0.00% −0.01
RRX Regal Rexnord Corp. Sold out 0.00% −0.01
VFH Vanguard Financials ETF Sold out 0.00% −0.00
URA Global X Uranium ETF Sold out 0.00% −0.00
SIX Six Flags Entertainment Corp. Sold out 0.00% −0.00
KDP Keurig Dr Pepper Inc. Sold out 0.00% −0.00
MCD McDonald's Corp. Reduce -6.6% 0.10% −0.00
ARKK ARK Innovation ETF Sold out 0.00% −0.00
RUN Sunrun Inc. Sold out 0.00% −0.00
SEG Seaport Entertainment Group Reduce -4.6% 0.00% −0.00

Portfolio Buys Q2 2024 → Q3 2024
TFPM Triple Flag Precious Met Add +104.9% 1.85% +0.87
BERKSHIRE HATHAWAY INC Add +16.7% 5.59% +0.80
GD General Dynamics Corp. Add +32.6% 3.66% +0.67
TMO Thermo Fisher Scientific Inc. Add +28.4% 2.81% +0.60
ORCL Oracle Corp. Add +4.4% 4.93% +0.51
AAPL Apple Inc. Add +6.3% 11.30% +0.43
MSFT Microsoft Corp. Add +23.3% 8.21% +0.39
GTX Garrett Motion Inc. Add +49.1% 1.67% +0.34
ABT Abbott Laboratories Add +20.1% 2.24% +0.32
ITW Illinois Tool Works New 0.31% +0.31
JPM JPMorgan Chase & Co. Add +371.4% 0.21% +0.16
MTB M & T Bank Corp. New 0.16% +0.16
LMT Lockheed Martin Corp. Add +5625.0% 0.16% +0.15
SSB Southstate Bank Corp. Add +0.6% 0.76% +0.09
VOO Vanguard S&P 500 ETF Add +850.0% 0.08% +0.07
VEA Vanguard Ftse Developed ETF New 0.04% +0.04
MIDD Middleby Corp. Add +2.2% 1.46% +0.04
AYI Acuity Inc. Add +0.2% 2.18% +0.02
VWO Vanguard Ftse Emerging Marke Add +459.5% 0.01% +0.01
ROST Ross Stores Inc. Add +9.4% 2.78% +0.01
VRT Vertiv Holdings Co. Class A Add +26.8% 0.02% +0.00
BSM Black Stone Minerals LP Add +24.0% 0.05% +0.00
SLV iShares Silver Trust New 0.00% +0.00
KO The Coca-Cola Co. Add +0.3% 1.25% +0.00
GLD SPDR Gold Shares Add +0.8% 0.15% +0.00
FUN Six Flags Entertainment Corp. New 0.00% +0.00
TCEHY Tencent Holdings Ltd.-Uns ADR Add +28.6% 0.00% +0.00
FWONK Liberty Media Corp.-Liberty-C Add +12.1% 0.01% +0.00
CRM Salesforce Inc. Add +14.3% 0.01% +0.00
LUNMF Lundin Mining Corp. Add +26.1% 0.00% +0.00
UAL United Airlines Holdings Inc. Add +16.7% 0.00% +0.00
FECCF Frontera Energy Corp. Add +23.3% 0.00% +0.00
WMB Williams Cos Inc. Add +3.4% 0.78% −0.01
GOLF Acushnet Holdings Corp. Add +11.6% 2.57% −0.02
VXUS Vanguard Total Intl Stock Add +2.0% 0.99% −0.03
VGK Vanguard Ftse Europe ETF Add +1.7% 1.15% −0.05
AIG American International Group Add +5.1% 2.68% −0.24
WFC Wells Fargo & Co. Add +0.7% 1.85% −0.33
GOOG Alphabet Inc. Class C Add +12.4% 4.16% −0.43
DVN Devon Energy Corp. Add +2.3% 1.40% −0.48
DG Dollar General Corp. Add +0.9% 0.94% −0.71
MTDR Matador Resources Co. Add +24.7% 11.03% −1.03

Notes & Other Activity Q2 2024 → Q3 2024
SEAPORT ENTERTAINMENT GR-RTS RIGHT 10/10/2024 New 36 $106

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 221$167.2MMTDR, AAPL, MSFT, GOOG, BERKSHIRE HATHAWAY INC
Q1 2026 191$167.3MMTDR, AAPL, MSFT, GOOG, BERKSHIRE HATHAWAY INC
Q4 2025 189$162.6MMSFT, AAPL, MTDR, GOOG, BERKSHIRE HATHAWAY INC
Q3 2025 159$152.3MMTDR, AAPL, ORCL, MSFT, BERKSHIRE HATHAWAY INC
Q2 2025 160$152.9MMSFT, MTDR, AAPL, BERKSHIRE HATHAWAY INC, ORCL
Q1 2025 163$144.0MMTDR, AAPL, MSFT, BERKSHIRE HATHAWAY INC, GOOG
Q4 2024 148$78.9MMTDR, AAPL, MSFT, BERKSHIRE HATHAWAY INC, ORCL
Q3 2024 146$85.6MAAPL, MTDR, MSFT, BERKSHIRE HATHAWAY INC, ORCL
Q2 2024 153$75.7MMTDR, AAPL, MSFT, BERKSHIRE HATHAWAY INC, GOOG
Q1 2024 156$74.6MMTDR, AAPL, MSFT, BERKSHIRE HATHAWAY INC, ORCL