Mount Lucas Management LP

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), Mount Lucas Management LP reported 142 stock positions worth $298.6 million. Its top holding was Invesco S&P 500 Pure Value E (RPV) at 6.6% of the portfolio, followed by Paccar (PCAR, 2.6%) and United Rentals (URI, 2.4%). Compared with Q4 2023, it opened 4 new positions, sold out of 1, added to 32 and reduced 105. The biggest buy was Invesco S&P 500 Pure Value E (RPV, shares +196%) and the biggest sale Invesco QQQ Trust Series 1 (QQQ, shares −69%).

Most Recent 13F
Q2 2026
Location
Newtown, PA
CIK
0001185072
Portfolio Value
$298.6M (Q1 2024)
SEC Filing
0001140361-24-025380 ↗ filed May 10, 2024

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $298.6M $298.6M Q1 2024 Q2 2024: $281.8M Q2 2024 Q3 2024: $293.6M Q3 2024 Q4 2024: $287.3M Q4 2024 Q1 2025: $212.6M Q1 2025 Q2 2025: $210.1M Q2 2025 Q3 2025: $221.6M Q3 2025 Q4 2025: $225.9M Q4 2025 Q1 2026: $270.8M Q1 2026 Q2 2026: $280.7M Q2 2026

Holdings 142 stocks · $298.6M
RPV Invesco S&P 500 Pure Value E 6.58% 222,148 $19.6M Add +195.8%
PCAR Paccar Inc. 2.63% 63,275 $7.8M Reduce -8.2%
URI United Rentals Inc. 2.37% 9,816 $7.1M Reduce -8.2%
PHM Pultegroup Inc. 2.29% 56,578 $6.8M Reduce -8.3%
CAH Cardinal Health Inc. 2.26% 60,384 $6.8M Reduce -7.7%
QQQ Invesco QQQ Trust Series 1 2.09% 14,046 $6.2M Reduce -68.9%
DAL Delta Air Lines Inc. 2.05% 127,634 $6.1M Reduce -8.2%
HIG Hartford Insurance Group Inc. 1.86% 53,790 $5.5M Reduce -8.0%
UAL United Airlines Holdings Inc. 1.76% 109,769 $5.3M Reduce -8.4%
L Loews Corp. 1.73% 66,087 $5.2M Reduce -7.9%
HCA HCA Healthcare Inc. 1.69% 15,112 $5.0M Reduce -8.3%
NLY Annaly Capital Management Inc. 1.67% 252,965 $5.0M Add +3.4%
F Ford Motor Co. filed as FORD MTR CO DEL 1.62% 365,000 $4.8M Reduce -6.1%
AGNC AGNC Investment Corp. 1.61% 486,920 $4.8M Add +1.3%
EG Everest Group Ltd. 1.58% 11,882 $4.7M Reduce -8.1%
KWEB Kranesh Csi China Internet 1.54% 175,000 $4.6M Add +75.0%
ACGL Arch Capital Group Ltd. 1.19% 38,408 $3.6M Reduce -8.4%
BBJP JPMorgan Betabuilders Japan 1.15% 58,854 $3.4M Reduce -7.2%
EWA iShares MSCI Australia ETF 1.15% 139,237 $3.4M Add +1.8%
SHY iShares 1-3 Year Treasury Bo 1.09% 39,955 $3.3M Reduce -6.0%
MGM MGM Resorts International 1.08% 68,581 $3.2M Reduce -8.4%
MTBA Simplify MBS ETF 1.06% 62,360 $3.2M Add +1.0%
JPM JPMorgan Chase & Co. 1.05% 15,706 $3.1M Reduce -8.4%
COST Costco Wholesale Corp. 1.03% 4,183 $3.1M Reduce -7.5%
CPRT Copart Inc. 1.02% 52,712 $3.1M Reduce -7.6%
BSX Boston Scientific Corp. 1.02% 44,409 $3.0M Reduce -7.6%
LEN Lennar Corp. Class A 1.01% 17,544 $3.0M Reduce -8.4%
AZO AutoZone Inc. 1.00% 952 $3.0M Reduce -7.5%
RSG Republic Services Inc. 0.99% 15,491 $3.0M Reduce -7.6%
ORLY O'reilly Automotive Inc. 0.94% 2,482 $2.8M Reduce -7.6%
CI The Cigna Group 0.93% 7,633 $2.8M Reduce -8.2%
IEI iShares 3-7 Year Treasury Bo 0.92% 23,734 $2.7M Reduce -20.3%
V Visa Inc. Class A 0.92% 9,789 $2.7M Reduce -7.4%
REM iShares Mortgage Real Estate 0.91% 117,013 $2.7M Add +6.3%
BR Broadridge Financial Solutio 0.90% 13,149 $2.7M Reduce -7.3%
GM General Motors Co. 0.89% 58,698 $2.7M Reduce -8.2%
CWB SS SPDR BB Conv Sec ETF 0.89% 36,359 $2.7M Add +1.0%
DVA Davita Inc. 0.88% 19,029 $2.6M Reduce -8.4%
BKLN Invesco Senior Loan ETF 0.88% 123,959 $2.6M Add +0.5%
PFF iShares Preferred & Income S 0.88% 81,243 $2.6M Reduce -2.4%
CME Cme Group Inc. 0.88% 12,152 $2.6M Reduce -7.2%
ROP Roper Technologies Inc. 0.88% 4,663 $2.6M Reduce -7.6%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.87% 10,390 $2.6M Reduce -7.4%
VYM Vanguard High DVD Yield ETF 0.87% 21,469 $2.6M Reduce -2.7%
WFC Wells Fargo & Co. 0.87% 44,729 $2.6M Reduce -7.8%
CBOE Cboe Global Markets Inc. 0.86% 14,024 $2.6M Reduce -7.3%
AAL American Airlines Group Inc. 0.86% 166,345 $2.6M Reduce -8.4%
MCK McKesson Corp. 0.85% 4,751 $2.6M Reduce -8.4%
PBP Invesco S&P 500 Buywrite ETF 0.85% 112,345 $2.5M Reduce -1.7%
DWX State Street SPDR S&P Intern 0.84% 71,667 $2.5M Add +3.4%
EMHY iShares J.P. Morgan Em High 0.84% 67,218 $2.5M Reduce -0.8%
SYF Synchrony Financial 0.84% 58,383 $2.5M Reduce -7.9%
EMB iShares JP Morgan Usd Emergi 0.84% 28,034 $2.5M Add +1.3%
CE Celanese Corp. 0.84% 14,550 $2.5M Reduce -8.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.81% 42,048 $2.4M Reduce -8.4%
MNST Monster Beverage Corp. 0.80% 40,059 $2.4M Reduce -7.6%
MCD McDonald's Corp. 0.78% 8,246 $2.3M Reduce -7.1%
AIZ Assurant Inc. 0.77% 12,257 $2.3M Reduce -8.1%
LW Lamb Weston Holdings Inc. 0.76% 21,288 $2.3M Reduce -7.3%
TPR Tapestry Inc. 0.76% 47,488 $2.3M Reduce -7.8%
IEF iShares 7-10 Year Treasury B 0.75% 23,571 $2.2M Reduce -34.9%
MDLZ Mondelez International Inc. Class A 0.73% 31,251 $2.2M Reduce -7.1%
CMCSA Comcast Corp. Class A 0.71% 48,952 $2.1M Reduce -8.5%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.67% 15,913 $2.0M Reduce -6.8%
EQT Eqt Corp. 0.64% 51,918 $1.9M Reduce -8.1%
FALN iShares Fallen Angels ETF 0.59% 65,655 $1.8M Add +40.2%
JNK SS SPDR BB High Yield Bond 0.59% 18,424 $1.8M Add +41.1%
GHYG iShares Us&intl High Yield C 0.59% 39,700 $1.8M Add +42.0%
HYGV NT HY Val-SCRD BD ETF 0.59% 42,620 $1.8M Add +40.9%
SHYG iShares 0-5 YR HY Corp. Bond 0.59% 41,121 $1.7M Add +40.4%
HSY The Hershey Co. 0.58% 8,949 $1.7M Reduce -7.0%
CHTR Charter Communications Inc. Class A 0.54% 5,565 $1.6M Reduce -8.5%
HUM Humana Inc. 0.54% 4,646 $1.6M Reduce -8.3%
BIDU Baidu Inc. - Spon ADR 0.53% 15,000 $1.6M New
IWD iShares Russell 1000 Value E 0.52% 8,671 $1.6M Add +189.5%
BWA Borgwarner Inc. 0.47% 40,140 $1.4M Reduce -8.1%
UBER Uber Technologies Inc. 0.46% 17,826 $1.4M Reduce -8.2%
VNQI Vanguard GLBL Ex-US Real Est 0.46% 32,344 $1.4M Add +6.1%
VNQ Vanguard Real Estate ETF 0.44% 15,321 $1.3M Add +4.3%
RCL Royal Caribbean Cruises Ltd. 0.41% 8,737 $1.2M Reduce -8.2%
NCLH Norwegian Cruise Line Holdin 0.34% 49,184 $1.0M Reduce -8.2%
DKNG Draftkings Inc. Class A 0.33% 21,896 $994K Reduce -8.2%
CCL Carnival Corp. 0.33% 59,585 $974K Reduce -8.2%
EPU iShares MSCI Peru and Global 0.31% 23,688 $928K Reduce -2.2%
PR Permian Resources Corp. Class A 0.30% 50,764 $896K Reduce -7.5%
EWW iShares MSCI Mexico ETF 0.30% 12,763 $885K Add +4.0%
EWT iShares MSCI Taiwan ETF 0.29% 17,972 $875K Reduce -0.6%
EWY iShares MSCI South Korea ETF 0.29% 12,987 $872K New
EPOL iShares MSCI Poland ETF 0.28% 35,720 $843K Reduce -2.8%
INDA iShares MSCI India ETF 0.28% 16,275 $840K Reduce -4.6%
EPHE iShares MSCI Philippines ETF 0.28% 30,322 $838K Reduce -5.3%
EWM iShares MSCI Malaysia ETF 0.28% 38,317 $835K Reduce -2.2%
GREK Global X MSCI Greece ETF 0.28% 20,754 $830K Reduce -7.6%
EWZ iShares MSCI Brazil ETF 0.27% 25,224 $818K Add +5.9%
EWP iShares MSCI Spain ETF 0.27% 25,294 $814K Add +4.7%
TUR iShares MSCI Turkey ETF 0.27% 22,210 $798K Add +100.9%
MELI MercadoLibre Inc. 0.26% 520 $786K Reduce -8.1%
EWI iShares MSCI Italy ETF 0.26% 20,772 $784K Reduce -4.8%
EWO iShares MSCI Austria ETF 0.26% 35,851 $779K Add +4.7%
EWU iShares MSCI United Kingdom 0.26% 22,599 $773K Add +0.9%
EWN iShares MSCI Netherlands ETF 0.26% 15,503 $767K Reduce -6.5%
EWG iShares MSCI Germany ETF 0.26% 24,155 $767K Reduce -3.1%
VRT Vertiv Holdings Co. Class A 0.26% 9,371 $765K Reduce -8.2%
EWQ iShares MSCI France ETF 0.26% 18,407 $762K Reduce -2.5%
EWL iShares MSCI Switzerland ETF 0.25% 15,809 $753K Add +3.1%
EWD iShares MSCI Sweden ETF 0.25% 18,718 $748K Reduce -0.2%
APO Apollo Global Management Inc. 0.25% 6,562 $738K Reduce -7.9%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.25% 6,735 $734K Add +37.8%
SCHP Schwab U.S. Tips ETF 0.24% 13,959 $728K Add +34.7%
IGSB iShares 1-5Y Inv Grade Corp. 0.24% 14,192 $728K Add +34.5%
FLRN SS SPDR BB Ig Float RT ETF 0.24% 23,557 $726K Add +33.2%
WIP State Street SPDR Ftse Inter 0.24% 18,113 $724K Add +40.4%
MUB iShares National Muni Bond E 0.24% 6,710 $722K Add +34.4%
ANET Arista Networks Inc. 0.24% 2,440 $708K Reduce -8.2%
JBL Jabil Inc. 0.22% 4,951 $663K Reduce -8.2%
H Hyatt Hotels Corp. Class A 0.21% 3,985 $636K Reduce -8.2%
THC Tenet Healthcare Corp. 0.21% 5,935 $624K Reduce -8.2%
EIDO iShares MSCI Indonesia ETF 0.20% 26,586 $599K New
FTI Technipfmc PLC 0.19% 22,318 $560K Reduce -8.1%
CPNG Coupang Inc. 0.17% 29,178 $519K Reduce -8.2%
FCNCA First Citizens Bcshs Class A 0.17% 312 $510K Reduce -8.5%
QQQM Invesco Nasdaq 100 ETF 0.17% 2,740 $501K Reduce -68.9%
WYNN WYNN Resorts Ltd. 0.15% 4,521 $462K Reduce -8.0%
KGC Kinross Gold Corp. 0.15% 74,513 $457K Reduce -7.8%
LVS Las Vegas Sands Corp. 0.14% 8,012 $414K Reduce -7.8%
NVDA Nvidia Corp. 0.14% 458 $414K Reduce -8.0%
SNOW Snowflake Inc. 0.14% 2,495 $403K Reduce -8.2%
GXO Gxo Logistics Inc. 0.13% 7,295 $392K Reduce -8.2%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.13% 5,748 $377K New
WBD Warner Bros Discovery Inc. 0.11% 36,476 $318K Reduce -8.2%
PHIN Phinia Inc. 0.10% 8,131 $312K Reduce -8.0%
DASH DoorDash Inc. Class A 0.10% 2,201 $303K Reduce -8.2%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.09% 3,143 $275K Reduce -8.2%
SWAV Shockwave Medical Inc. 0.09% 805 $262K Reduce -8.2%
HUBS HubSpot Inc. 0.08% 402 $252K Reduce -8.0%
FTNT Fortinet Inc. 0.08% 3,456 $236K Reduce -8.2%
SRPT Sarepta Therapeutics Inc. 0.08% 1,810 $234K Reduce -8.2%
DDOG Datadog Inc. Class A 0.08% 1,823 $225K Reduce -8.2%
MDB Mongodb Inc. 0.08% 628 $225K Reduce -8.3%
CFLT Confluent Inc. Class A 0.07% 6,729 $205K Reduce -8.2%
ZS Zscaler Inc. 0.07% 1,009 $194K Reduce -8.2%
TELL Tellurian Inc. 0.06% 250,000 $165K No change

Options reported separately and not counted above: BABA calls ($54.3M), KWEB calls ($13.1M).

Portfolio Sells Q4 2023 → Q1 2024
QQQ Invesco QQQ Trust Series 1 Reduce -68.9% 2.09% −4.44
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −0.55
IEF iShares 7-10 Year Treasury B Reduce -34.9% 0.75% −0.48
QQQM Invesco Nasdaq 100 ETF Reduce -68.9% 0.17% −0.36
IEI iShares 3-7 Year Treasury Bo Reduce -20.3% 0.92% −0.31
CHTR Charter Communications Inc. Class A Reduce -8.5% 0.54% −0.29
HUM Humana Inc. Reduce -8.3% 0.54% −0.28
MCD McDonald's Corp. Reduce -7.1% 0.78% −0.15
SHY iShares 1-3 Year Treasury Bo Reduce -6.0% 1.09% −0.14
BR Broadridge Financial Solutio Reduce -7.3% 0.90% −0.13
MDLZ Mondelez International Inc. Class A Reduce -7.1% 0.73% −0.13
EQT Eqt Corp. Reduce -8.1% 0.64% −0.13
CMCSA Comcast Corp. Class A Reduce -8.5% 0.71% −0.12
LW Lamb Weston Holdings Inc. Reduce -7.3% 0.76% −0.12
CCL Carnival Corp. Reduce -8.2% 0.33% −0.10
CME Cme Group Inc. Reduce -7.2% 0.88% −0.10
MGM MGM Resorts International Reduce -8.4% 1.08% −0.10
ROP Roper Technologies Inc. Reduce -7.6% 0.88% −0.09
CBOE Cboe Global Markets Inc. Reduce -7.3% 0.86% −0.09
SJM The JM Smucker Co. Reduce -6.8% 0.67% −0.09
MNST Monster Beverage Corp. Reduce -7.6% 0.80% −0.09
BWA Borgwarner Inc. Reduce -8.1% 0.47% −0.09
CAH Cardinal Health Inc. Reduce -7.7% 2.26% −0.06
V Visa Inc. Class A Reduce -7.4% 0.92% −0.06
SNOW Snowflake Inc. Reduce -8.2% 0.14% −0.06
WBD Warner Bros Discovery Inc. Reduce -8.2% 0.11% −0.05
MELI MercadoLibre Inc. Reduce -8.1% 0.26% −0.05
HSY The Hershey Co. Reduce -7.0% 0.58% −0.05
F Ford Motor Co. Reduce -6.1% 1.62% −0.05
GXO Gxo Logistics Inc. Reduce -8.2% 0.13% −0.04
PFF iShares Preferred & Income S Reduce -2.4% 0.88% −0.04
NCLH Norwegian Cruise Line Holdin Reduce -8.2% 0.34% −0.03
BNY Bank of New York Mellon Corp. Reduce -8.4% 0.81% −0.03
EG Everest Group Ltd. Reduce -8.1% 1.58% −0.03
CE Celanese Corp. Reduce -8.0% 0.84% −0.03
L Loews Corp. Reduce -7.9% 1.73% −0.03
PBP Invesco S&P 500 Buywrite ETF Reduce -1.7% 0.85% −0.03
RCL Royal Caribbean Cruises Ltd. Reduce -8.2% 0.41% −0.03
COST Costco Wholesale Corp. Reduce -7.5% 1.03% −0.03
EMHY iShares J.P. Morgan Em High Reduce -0.8% 0.84% −0.03
AAL American Airlines Group Inc. Reduce -8.4% 0.86% −0.03
MDB Mongodb Inc. Reduce -8.3% 0.08% −0.02
BBJP JPMorgan Betabuilders Japan Reduce -7.2% 1.15% −0.02
ZS Zscaler Inc. Reduce -8.2% 0.07% −0.02
AJG Arthur J Gallagher & Co. Reduce -7.4% 0.87% −0.02
JBL Jabil Inc. Reduce -8.2% 0.22% −0.02
AIZ Assurant Inc. Reduce -8.1% 0.77% −0.02
KGC Kinross Gold Corp. Reduce -7.8% 0.15% −0.02
GREK Global X MSCI Greece ETF Reduce -7.6% 0.28% −0.02
EWM iShares MSCI Malaysia ETF Reduce -2.2% 0.28% −0.01

Portfolio Buys Q4 2023 → Q1 2024
RPV Invesco S&P 500 Pure Value E Add +195.8% 6.58% +4.40
KWEB Kranesh Csi China Internet Add +75.0% 1.54% +0.59
BIDU Baidu Inc. - Spon ADR New 0.53% +0.53
IWD iShares Russell 1000 Value E Add +189.5% 0.52% +0.35
EWY iShares MSCI South Korea ETF New 0.29% +0.29
EIDO iShares MSCI Indonesia ETF New 0.20% +0.20
FALN iShares Fallen Angels ETF Add +40.2% 0.59% +0.15
JNK SS SPDR BB High Yield Bond Add +41.1% 0.59% +0.15
GHYG iShares Us&intl High Yield C Add +42.0% 0.59% +0.15
HYGV NT HY Val-SCRD BD ETF Add +40.9% 0.59% +0.15
SHYG iShares 0-5 YR HY Corp. Bond Add +40.4% 0.59% +0.15
TUR iShares MSCI Turkey ETF Add +100.9% 0.27% +0.14
XLU St Sr Utl SL SE SPDR ETF-Usd New 0.13% +0.13
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +37.8% 0.25% +0.05
SCHP Schwab U.S. Tips ETF Add +34.7% 0.24% +0.05
IGSB iShares 1-5Y Inv Grade Corp. Add +34.5% 0.24% +0.05
FLRN SS SPDR BB Ig Float RT ETF Add +33.2% 0.24% +0.05
WIP State Street SPDR Ftse Inter Add +40.4% 0.24% +0.05
MUB iShares National Muni Bond E Add +34.4% 0.24% +0.05
EWP iShares MSCI Spain ETF Add +4.7% 0.27% +0.01
EWW iShares MSCI Mexico ETF Add +4.0% 0.30% +0.00
EWO iShares MSCI Austria ETF Add +4.7% 0.26% −0.00
VNQI Vanguard GLBL Ex-US Real Est Add +6.1% 0.46% −0.00
EWU iShares MSCI United Kingdom Add +0.9% 0.26% −0.00
NLY Annaly Capital Management Inc. Add +3.4% 1.67% −0.00
REM iShares Mortgage Real Estate Add +6.3% 0.91% −0.01
EWL iShares MSCI Switzerland ETF Add +3.1% 0.25% −0.01
VNQ Vanguard Real Estate ETF Add +4.3% 0.44% −0.01
EWZ iShares MSCI Brazil ETF Add +5.9% 0.27% −0.02
EWA iShares MSCI Australia ETF Add +1.8% 1.15% −0.03
DWX State Street SPDR S&P Intern Add +3.4% 0.84% −0.03
CWB SS SPDR BB Conv Sec ETF Add +1.0% 0.89% −0.03
EMB iShares JP Morgan Usd Emergi Add +1.3% 0.84% −0.03
BKLN Invesco Senior Loan ETF Add +0.5% 0.88% −0.04
AGNC AGNC Investment Corp. Add +1.3% 1.61% −0.05
MTBA Simplify MBS ETF Add +1.0% 1.06% −0.06

Options Activity Q4 2023 → Q1 2024
BABA Alibaba Group Holding-SP ADR call Add +50.0% 750,000 $54.3M
FXI iShares China Large-Cap ETF call Sold out 500,000 $12.0Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 166$280.7MEWZ, RPV, QQQ, NBIS, SHY
Q1 2026 165$270.8MRPV, EWZ, ADBE, INTC, SHY
Q4 2025 167$225.9MRPV, QQQ, EWA, BBJP, FOXA
Q3 2025 159$221.6MQQQ, AGNC, NLY, BBJP, EWA
Q2 2025 156$210.1MQQQ, NLY, AGNC, IEF, IEI
Q1 2025 144$212.6MQQQ, IEI, SHY, IEF, NLY
Q4 2024 135$287.3MKWEB, RPV, ASHR, SHY, JD
Q3 2024 145$293.6MKWEB, QQQ, BABA, JD, AGNC
Q2 2024 154$281.8MQQQ, HIG, L, COST, ACGL
Q1 2024 142$298.6MRPV, PCAR, URI, PHM, CAH