Mount Lucas Management LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), Mount Lucas Management LP reported 144 stock positions worth $212.6 million. Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 11.3% of the portfolio, followed by iShares 3-7 Year Treasury Bo (IEI, 3.2%) and iShares 1-3 Year Treasury Bo (SHY, 3.2%). Compared with Q4 2024, it opened 49 new positions, sold out of 41, added to 42 and reduced 53. The biggest buy was a new position in Invesco QQQ Trust Series 1 (QQQ) and the biggest sale an exit from Kranesh Csi China Internet (KWEB).
- Most Recent 13F
- Q2 2026
- Location
- Newtown, PA
- CIK
- 0001185072
- Portfolio Value
- $212.6M (Q1 2025)
- SEC Filing
- 0001140361-25-017463 ↗ filed May 6, 2025
Holdings Value
Holdings 144 stocks · $212.6M
| QQQ Invesco QQQ Trust Series 1 | 11.32% | 51,317 | $24.1M | New |
| IEI iShares 3-7 Year Treasury Bo | 3.23% | 58,089 | $6.9M | Reduce -26.7% |
| SHY iShares 1-3 Year Treasury Bo | 3.22% | 82,817 | $6.9M | Reduce -58.3% |
| IEF iShares 7-10 Year Treasury B | 3.22% | 71,782 | $6.8M | Add +209.3% |
| NLY Annaly Capital Management Inc. | 2.69% | 281,100 | $5.7M | Add +7.3% |
| AGNC AGNC Investment Corp. | 2.47% | 548,600 | $5.3M | Add +5.0% |
| HIG Hartford Insurance Group Inc. | 1.99% | 34,128 | $4.2M | Reduce -4.8% |
| BBJP JPMorgan Betabuilders Japan | 1.66% | 62,898 | $3.5M | Add +192.4% |
| FOXA Fox Corp. Class A | 1.37% | 51,606 | $2.9M | New |
| DWX State Street SPDR S&P Intern | 1.28% | 70,922 | $2.7M | Add +129.0% |
| BKLN Invesco Senior Loan ETF | 1.27% | 130,703 | $2.7M | Reduce -0.6% |
| CWB SS SPDR BB Conv Sec ETF | 1.24% | 34,529 | $2.6M | Add +1.9% |
| REM iShares Mortgage Real Estate | 1.22% | 115,606 | $2.6M | Add +74.4% |
| EMB iShares JP Morgan Usd Emergi | 1.21% | 28,364 | $2.6M | Reduce -1.7% |
| EMHY iShares J.P. Morgan Em High | 1.21% | 67,142 | $2.6M | Reduce -1.7% |
| VYM Vanguard High DVD Yield ETF | 1.18% | 19,498 | $2.5M | Reduce -0.8% |
| PBP Invesco S&P 500 Buywrite ETF | 1.16% | 111,269 | $2.5M | Reduce -2.4% |
| PGR Progressive Corp. | 1.10% | 8,262 | $2.3M | Add +301.5% |
| SYF Synchrony Financial | 1.08% | 43,190 | $2.3M | Reduce -15.7% |
| ACGL Arch Capital Group Ltd. | 1.05% | 23,308 | $2.2M | Reduce -18.1% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 1.05% | 31,497 | $2.2M | Add +100.8% |
| ALL Allstate Corp. | 1.03% | 10,626 | $2.2M | Add +297.1% |
| L Loews Corp. | 0.94% | 21,790 | $2.0M | Reduce -47.5% |
| QQQM Invesco Nasdaq 100 ETF | 0.92% | 10,171 | $2.0M | New |
| CB Chubb Ltd. | 0.92% | 6,487 | $2.0M | Add +107.9% |
| WELL Welltower Inc. | 0.92% | 12,713 | $1.9M | New |
| TMUS T-Mobile US Inc. | 0.91% | 7,270 | $1.9M | Reduce -2.9% |
| MET Metlife Inc. | 0.87% | 23,140 | $1.9M | Add +93.2% |
| GHYG iShares Us&intl High Yield C | 0.85% | 40,695 | $1.8M | Reduce -1.5% |
| FALN iShares Fallen Angels ETF | 0.85% | 67,339 | $1.8M | Reduce -1.0% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.85% | 42,266 | $1.8M | Reduce -1.7% |
| JNK SS SPDR BB High Yield Bond | 0.84% | 18,824 | $1.8M | Reduce -1.4% |
| HYGV NT HY Val-SCRD BD ETF | 0.84% | 44,371 | $1.8M | Reduce -1.1% |
| BRO Brown & Brown Inc. | 0.84% | 14,398 | $1.8M | Reduce -3.1% |
| UHS Universal Health Services-B | 0.84% | 9,526 | $1.8M | Add +115.8% |
| DAL Delta Air Lines Inc. | 0.84% | 40,973 | $1.8M | Reduce -22.8% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.82% | 20,814 | $1.7M | Add +31.3% |
| APP AppLovin Corp. Class A | 0.81% | 6,530 | $1.7M | Add +17.8% |
| WMB Williams Cos Inc. | 0.80% | 28,328 | $1.7M | New |
| RSG Republic Services Inc. | 0.79% | 6,978 | $1.7M | Reduce -55.1% |
| GM General Motors Co. | 0.79% | 35,780 | $1.7M | Add +96.8% |
| ADP Automatic Data Processing | 0.79% | 5,480 | $1.7M | New |
| KMI Kinder Morgan Inc. | 0.76% | 56,925 | $1.6M | New |
| JPM JPMorgan Chase & Co. | 0.76% | 6,560 | $1.6M | Reduce -52.9% |
| RFIX Simplify Bond Bull ETF | 0.76% | 30,000 | $1.6M | New |
| CTAS Cintas Corp. | 0.74% | 7,632 | $1.6M | Reduce -3.0% |
| WMT Walmart Inc. | 0.73% | 17,580 | $1.5M | New |
| WAB Wabtec Corp. | 0.71% | 8,370 | $1.5M | New |
| MSI Motorola Solutions Inc. | 0.71% | 3,454 | $1.5M | New |
| MCK McKesson Corp. | 0.70% | 2,209 | $1.5M | Reduce -3.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.70% | 12,169 | $1.5M | Reduce -2.9% |
| COST Costco Wholesale Corp. | 0.68% | 1,535 | $1.5M | Reduce -59.9% |
| UAL United Airlines Holdings Inc. | 0.66% | 20,338 | $1.4M | Reduce -52.2% |
| PKG Packaging Corp. of America | 0.66% | 7,080 | $1.4M | New |
| DVA Davita Inc. | 0.65% | 9,092 | $1.4M | Reduce -29.0% |
| TRGP Targa Resources Corp. | 0.64% | 6,833 | $1.4M | Reduce -3.5% |
| PRU Prudential Financial Inc. | 0.63% | 12,017 | $1.3M | Add +213.7% |
| VNQ Vanguard Real Estate ETF | 0.62% | 14,651 | $1.3M | Add +3.3% |
| APH Amphenol Corp. Class A | 0.62% | 19,990 | $1.3M | Reduce -3.0% |
| CCL Carnival Corp. | 0.60% | 65,754 | $1.3M | Add +42.5% |
| PFF iShares Preferred & Income S | 0.54% | 37,173 | $1.1M | Reduce -56.1% |
| KGC Kinross Gold Corp. | 0.53% | 89,136 | $1.1M | Reduce -40.1% |
| FTI Technipfmc PLC | 0.52% | 34,804 | $1.1M | Reduce -3.5% |
| RCL Royal Caribbean Cruises Ltd. | 0.51% | 5,308 | $1.1M | Reduce -9.3% |
| UWMC Uwm Holdings Corp. | 0.49% | 191,000 | $1.0M | New |
| TRV The Travelers Cos Inc. | 0.49% | 3,906 | $1.0M | New |
| THC Tenet Healthcare Corp. | 0.47% | 7,441 | $1.0M | Reduce -7.8% |
| CINF Cincinnati Financial Corp. | 0.46% | 6,664 | $984K | New |
| AIZ Assurant Inc. | 0.46% | 4,651 | $976K | Reduce -50.4% |
| EPOL iShares MSCI Poland ETF | 0.46% | 34,820 | $975K | New |
| GREK Global X MSCI Greece ETF | 0.46% | 20,673 | $971K | Add +269.6% |
| EZA iShares MSCI South Africa Et | 0.45% | 19,825 | $954K | Add +1.2% |
| EPU iShares MSCI Peru and Global | 0.44% | 21,500 | $944K | Add +0.3% |
| AIG American International Group | 0.44% | 10,666 | $927K | Reduce -3.5% |
| ECH iShares MSCI Chile ETF | 0.43% | 30,756 | $917K | New |
| NTRS Northern Trust Corp. | 0.43% | 9,180 | $906K | New |
| FXI iShares China Large-Cap ETF | 0.42% | 24,986 | $895K | Reduce -16.0% |
| VBNK Versabank | 0.41% | 85,000 | $881K | New |
| EME Emcor Group Inc. | 0.40% | 2,326 | $860K | Add +103.1% |
| FIX Comfort Systems USA Inc. | 0.40% | 2,660 | $857K | Add +86.9% |
| EWP iShares MSCI Spain ETF | 0.39% | 21,686 | $825K | Add +152.6% |
| EWO iShares MSCI Austria ETF | 0.39% | 32,725 | $822K | Add +510.8% |
| EWI iShares MSCI Italy ETF | 0.38% | 19,177 | $812K | Add +40.4% |
| EWG iShares MSCI Germany ETF | 0.38% | 21,693 | $804K | Reduce -11.6% |
| EWU iShares MSCI United Kingdom | 0.37% | 21,123 | $791K | Add +114.1% |
| EWQ iShares MSCI France ETF | 0.37% | 19,788 | $788K | New |
| EWL iShares MSCI Switzerland ETF | 0.37% | 15,125 | $783K | New |
| EG Everest Group Ltd. | 0.36% | 2,103 | $764K | Reduce -59.8% |
| EWD iShares MSCI Sweden ETF | 0.36% | 18,138 | $763K | New |
| SCHP Schwab U.S. Tips ETF | 0.36% | 28,379 | $763K | Reduce -2.9% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.36% | 14,523 | $761K | Reduce -1.9% |
| FLRN SS SPDR BB Ig Float RT ETF | 0.36% | 24,647 | $760K | Reduce -1.7% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.35% | 6,936 | $754K | Reduce -0.7% |
| PCAR Paccar Inc. | 0.35% | 7,661 | $746K | Reduce -65.6% |
| PHM Pultegroup Inc. | 0.35% | 7,173 | $737K | Reduce -53.3% |
| AEM Agnico Eagle Mines Ltd. | 0.34% | 6,675 | $724K | New |
| GMED Globus Medical Inc. Class A | 0.33% | 9,695 | $710K | New |
| NCLH Norwegian Cruise Line Holdin | 0.33% | 37,137 | $704K | Add +104.0% |
| FANG Diamondback Energy Inc. | 0.32% | 4,267 | $682K | Reduce -2.1% |
| HPE Hewlett Packard Enterprise | 0.32% | 43,490 | $671K | New |
Options reported separately and not counted above: KWEB calls ($49.6M), ASHR calls ($18.6M), JD calls ($16.4M), EWZ calls ($10.3M), INTC calls ($3.4M).
Portfolio Sells Q4 2024 → Q1 2025
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −15.35 |
| RPV Invesco S&P 500 Pure Value E | Sold out | 0.00% | −8.60 |
| ASHR Xtrackers Harvest Csi 300 CH | Sold out | 0.00% | −6.45 |
| JD Jd.com Inc.-ADR | Sold out | 0.00% | −4.83 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -58.3% | 3.22% | −2.45 |
| UAL United Airlines Holdings Inc. | Reduce -52.2% | 0.66% | −0.78 |
| IWD iShares Russell 1000 Value E | Sold out | 0.00% | −0.69 |
| SVOL Simplify Volatility Premium | Sold out | 0.00% | −0.62 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.58 |
| CPRT Copart Inc. | Sold out | 0.00% | −0.56 |
| BR Broadridge Financial Solutio | Sold out | 0.00% | −0.56 |
| AJG Arthur J Gallagher & Co. | Sold out | 0.00% | −0.55 |
| CME Cme Group Inc. | Sold out | 0.00% | −0.54 |
| COST Costco Wholesale Corp. | Reduce -59.9% | 0.68% | −0.54 |
| CBOE Cboe Global Markets Inc. | Sold out | 0.00% | −0.51 |
| PCAR Paccar Inc. | Reduce -65.6% | 0.35% | −0.45 |
| ROP Roper Technologies Inc. | Sold out | 0.00% | −0.45 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.41 |
| JPM JPMorgan Chase & Co. | Reduce -52.9% | 0.76% | −0.41 |
| EWA iShares MSCI Australia ETF | Sold out | 0.00% | −0.39 |
| PFF iShares Preferred & Income S | Reduce -56.1% | 0.54% | −0.39 |
| URI United Rentals Inc. | Sold out | 0.00% | −0.38 |
| EWM iShares MSCI Malaysia ETF | Sold out | 0.00% | −0.31 |
| EWT iShares MSCI Taiwan ETF | Sold out | 0.00% | −0.31 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.31 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.31 |
| EG Everest Group Ltd. | Reduce -59.8% | 0.36% | −0.30 |
| RSG Republic Services Inc. | Reduce -55.1% | 0.79% | −0.29 |
| L Loews Corp. | Reduce -47.5% | 0.94% | −0.28 |
| DAL Delta Air Lines Inc. | Reduce -22.8% | 0.84% | −0.28 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.27 |
| CIEN Ciena Corp. | Sold out | 0.00% | −0.27 |
| F Ford Motor Co. | Sold out | 0.00% | −0.25 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.25 |
| THD iShares MSCI Thailand ETF | Sold out | 0.00% | −0.24 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.24 |
| AIZ Assurant Inc. | Reduce -50.4% | 0.46% | −0.24 |
| PHM Pultegroup Inc. | Reduce -53.3% | 0.35% | −0.24 |
| COHR Coherent Corp. | Sold out | 0.00% | −0.21 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.21 |
| FCNCA First Citizens Bcshs Class A | Sold out | 0.00% | −0.19 |
| INDA iShares MSCI India ETF | Sold out | 0.00% | −0.16 |
| CAH Cardinal Health Inc. | Sold out | 0.00% | −0.15 |
| PR Permian Resources Corp. Class A | Reduce -49.1% | 0.28% | −0.14 |
| CE Celanese Corp. | Sold out | 0.00% | −0.13 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.11 |
| DASH DoorDash Inc. Class A | Sold out | 0.00% | −0.11 |
| MGM MGM Resorts International | Sold out | 0.00% | −0.10 |
| DKNG Draftkings Inc. Class A | Reduce -46.7% | 0.18% | −0.10 |
| GXO Gxo Logistics Inc. | Sold out | 0.00% | −0.09 |
Portfolio Buys Q4 2024 → Q1 2025
| QQQ Invesco QQQ Trust Series 1 | New | 11.32% | +11.32 |
| IEF iShares 7-10 Year Treasury B | Add +209.3% | 3.22% | +2.47 |
| FOXA Fox Corp. Class A | New | 1.37% | +1.37 |
| BBJP JPMorgan Betabuilders Japan | Add +192.4% | 1.66% | +1.25 |
| NLY Annaly Capital Management Inc. | Add +7.3% | 2.69% | +1.02 |
| PGR Progressive Corp. | Add +301.5% | 1.10% | +0.93 |
| QQQM Invesco Nasdaq 100 ETF | New | 0.92% | +0.92 |
| WELL Welltower Inc. | New | 0.92% | +0.92 |
| DWX State Street SPDR S&P Intern | Add +129.0% | 1.28% | +0.90 |
| ALL Allstate Corp. | Add +297.1% | 1.03% | +0.86 |
| AGNC AGNC Investment Corp. | Add +5.0% | 2.47% | +0.80 |
| WMB Williams Cos Inc. | New | 0.80% | +0.80 |
| ADP Automatic Data Processing | New | 0.79% | +0.79 |
| KMI Kinder Morgan Inc. | New | 0.76% | +0.76 |
| RFIX Simplify Bond Bull ETF | New | 0.76% | +0.76 |
| WRB WR Berkley Corp. | Add +100.8% | 1.05% | +0.73 |
| REM iShares Mortgage Real Estate | Add +74.4% | 1.22% | +0.73 |
| WMT Walmart Inc. | New | 0.73% | +0.73 |
| WAB Wabtec Corp. | New | 0.71% | +0.71 |
| MSI Motorola Solutions Inc. | New | 0.71% | +0.71 |
| PKG Packaging Corp. of America | New | 0.66% | +0.66 |
| CB Chubb Ltd. | Add +107.9% | 0.92% | +0.62 |
| UHS Universal Health Services-B | Add +115.8% | 0.84% | +0.57 |
| MET Metlife Inc. | Add +93.2% | 0.87% | +0.53 |
| UWMC Uwm Holdings Corp. | New | 0.49% | +0.49 |
| TRV The Travelers Cos Inc. | New | 0.49% | +0.49 |
| PRU Prudential Financial Inc. | Add +213.7% | 0.63% | +0.47 |
| CINF Cincinnati Financial Corp. | New | 0.46% | +0.46 |
| EPOL iShares MSCI Poland ETF | New | 0.46% | +0.46 |
| GM General Motors Co. | Add +96.8% | 0.79% | +0.45 |
| ECH iShares MSCI Chile ETF | New | 0.43% | +0.43 |
| NTRS Northern Trust Corp. | New | 0.43% | +0.43 |
| VBNK Versabank | New | 0.41% | +0.41 |
| BNY Bank of New York Mellon Corp. | Add +31.3% | 0.82% | +0.40 |
| GREK Global X MSCI Greece ETF | Add +269.6% | 0.46% | +0.38 |
| EWQ iShares MSCI France ETF | New | 0.37% | +0.37 |
| EWL iShares MSCI Switzerland ETF | New | 0.37% | +0.37 |
| EWD iShares MSCI Sweden ETF | New | 0.36% | +0.36 |
| EWO iShares MSCI Austria ETF | Add +510.8% | 0.39% | +0.35 |
| AEM Agnico Eagle Mines Ltd. | New | 0.34% | +0.34 |
| GMED Globus Medical Inc. Class A | New | 0.33% | +0.33 |
| CWB SS SPDR BB Conv Sec ETF | Add +1.9% | 1.24% | +0.33 |
| HPE Hewlett Packard Enterprise | New | 0.32% | +0.32 |
| FMCC Freddie Mac | New | 0.31% | +0.31 |
| PPC Pilgrim's Pride Corp. | New | 0.30% | +0.30 |
| EWP iShares MSCI Spain ETF | Add +152.6% | 0.39% | +0.30 |
| SFM Sprouts Farmers Market Inc. | New | 0.28% | +0.28 |
| VNQI Vanguard GLBL Ex-US Real Est | New | 0.28% | +0.28 |
| HCC Warrior Met Coal Inc. | New | 0.27% | +0.27 |
| HOOD Robinhood Markets Inc. Class A | New | 0.26% | +0.26 |
Options Activity Q4 2024 → Q1 2025
| KWEB Kranesh Csi China Internet | call | New | 1,420,000 | $49.6M |
| ASHR Xtrackers Harvest Csi 300 CH | call | New | 700,000 | $18.6M |
| JD Jd.com Inc.-ADR | call | New | 400,000 | $16.4M |
| EWZ iShares MSCI Brazil ETF | call | New | 400,000 | $10.3M |
| INTC Intel Corp. | call | New | 150,000 | $3.4M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 166 | $280.7M | EWZ, RPV, QQQ, NBIS, SHY |
| Q1 2026 | 165 | $270.8M | RPV, EWZ, ADBE, INTC, SHY |
| Q4 2025 | 167 | $225.9M | RPV, QQQ, EWA, BBJP, FOXA |
| Q3 2025 | 159 | $221.6M | QQQ, AGNC, NLY, BBJP, EWA |
| Q2 2025 | 156 | $210.1M | QQQ, NLY, AGNC, IEF, IEI |
| Q1 2025 | 144 | $212.6M | QQQ, IEI, SHY, IEF, NLY |
| Q4 2024 | 135 | $287.3M | KWEB, RPV, ASHR, SHY, JD |
| Q3 2024 | 145 | $293.6M | KWEB, QQQ, BABA, JD, AGNC |
| Q2 2024 | 154 | $281.8M | QQQ, HIG, L, COST, ACGL |
| Q1 2024 | 142 | $298.6M | RPV, PCAR, URI, PHM, CAH |