Mount Lucas Management LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), Mount Lucas Management LP reported 167 stock positions worth $225.9 million. Its top holding was Invesco S&P 500 Pure Value E (RPV) at 9.5% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 3.1%) and iShares MSCI Australia ETF (EWA, 1.7%). Compared with Q3 2025, it opened 9 new positions, sold out of 1, added to 69 and reduced 86. The biggest buy was a new position in Invesco S&P 500 Pure Value E (RPV) and the biggest sale Invesco QQQ Trust Series 1 (QQQ, shares −76%).
- Most Recent 13F
- Q2 2026
- Location
- Newtown, PA
- CIK
- 0001185072
- Portfolio Value
- $225.9M (Q4 2025)
- SEC Filing
- 0001140361-26-003806 ↗ filed Feb 5, 2026
Holdings Value
Holdings 167 stocks · $225.9M
| RPV Invesco S&P 500 Pure Value E | 9.50% | 207,662 | $21.5M | New |
| QQQ Invesco QQQ Trust Series 1 | 3.10% | 11,402 | $7.0M | Reduce -76.2% |
| EWA iShares MSCI Australia ETF | 1.73% | 149,394 | $3.9M | Add +10.0% |
| BBJP JPMorgan Betabuilders Japan | 1.71% | 58,734 | $3.9M | Add +3.3% |
| FOXA Fox Corp. Class A | 1.41% | 43,623 | $3.2M | Add +0.1% |
| AGNC AGNC Investment Corp. | 1.33% | 279,900 | $3.0M | Reduce -38.8% |
| BKLN Invesco Senior Loan ETF | 1.32% | 142,370 | $3.0M | Add +4.0% |
| PFF iShares Preferred & Income S | 1.32% | 96,463 | $3.0M | Add +6.0% |
| REM iShares Mortgage Real Estate | 1.31% | 133,622 | $3.0M | Add +5.2% |
| NLY Annaly Capital Management Inc. | 1.31% | 132,000 | $3.0M | Reduce -39.2% |
| CWB SS SPDR BB Conv Sec ETF | 1.30% | 32,838 | $2.9M | Reduce -0.7% |
| DWX State Street SPDR S&P Intern | 1.27% | 65,416 | $2.9M | Add +2.9% |
| EMHY iShares J.P. Morgan Em High | 1.26% | 70,601 | $2.9M | Add +2.5% |
| PBP Invesco S&P 500 Buywrite ETF | 1.26% | 124,366 | $2.8M | Add +0.0% |
| EMB iShares JP Morgan Usd Emergi | 1.25% | 29,393 | $2.8M | Add +1.4% |
| VYM Vanguard High DVD Yield ETF | 1.24% | 19,530 | $2.8M | Reduce -0.4% |
| NEM Newmont Corp. | 1.12% | 25,379 | $2.5M | Reduce -0.3% |
| GM General Motors Co. | 1.03% | 28,497 | $2.3M | Add +1.0% |
| UAL United Airlines Holdings Inc. | 1.00% | 20,212 | $2.3M | Reduce -0.6% |
| COR Cencora Inc. | 0.98% | 6,536 | $2.2M | Reduce -0.6% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.96% | 18,731 | $2.2M | Add +0.2% |
| PGR Progressive Corp. | 0.94% | 9,309 | $2.1M | Reduce -1.3% |
| WELL Welltower Inc. | 0.94% | 11,396 | $2.1M | Add +0.1% |
| GHYG iShares Us&intl High Yield C | 0.88% | 43,238 | $2.0M | Add +5.1% |
| SHY iShares 1-3 Year Treasury Bo | 0.88% | 24,034 | $2.0M | Reduce -27.4% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.88% | 46,362 | $2.0M | Add +4.9% |
| JNK SS SPDR BB High Yield Bond | 0.88% | 20,429 | $2.0M | Add +4.3% |
| HYGV NT HY Val-SCRD BD ETF | 0.88% | 48,685 | $2.0M | Add +4.5% |
| IEI iShares 3-7 Year Treasury Bo | 0.88% | 16,603 | $2.0M | Reduce -27.7% |
| FALN iShares Fallen Angels ETF | 0.87% | 72,374 | $2.0M | Add +3.5% |
| IEF iShares 7-10 Year Treasury B | 0.87% | 20,479 | $2.0M | Reduce -28.3% |
| MET Metlife Inc. | 0.86% | 24,578 | $1.9M | Add +0.7% |
| T AT&T Inc. | 0.84% | 75,942 | $1.9M | Add +0.1% |
| DAL Delta Air Lines Inc. | 0.83% | 27,128 | $1.9M | Add +1.0% |
| CCL Carnival Corp. | 0.79% | 58,724 | $1.8M | Add +0.8% |
| FTAI Ftai Aviation Ltd. | 0.78% | 9,000 | $1.8M | Add +12.5% |
| IWD iShares Russell 1000 Value E | 0.78% | 8,407 | $1.8M | New |
| CAH Cardinal Health Inc. | 0.78% | 8,592 | $1.8M | Add +0.0% |
| WMT Walmart Inc. | 0.77% | 15,668 | $1.7M | Reduce -0.1% |
| MOH Molina Healthcare Inc. | 0.73% | 9,500 | $1.6M | New |
| CSCO Cisco Systems Inc. | 0.73% | 21,291 | $1.6M | Add +0.3% |
| AEM Agnico Eagle Mines Ltd. | 0.72% | 9,621 | $1.6M | Reduce -1.7% |
| NTRS Northern Trust Corp. | 0.72% | 11,873 | $1.6M | Add +0.3% |
| WAB Wabtec Corp. | 0.70% | 7,436 | $1.6M | Reduce -0.1% |
| NDAQ Nasdaq Inc. | 0.70% | 16,293 | $1.6M | Add +0.0% |
| EWZ iShares MSCI Brazil ETF | 0.70% | 49,605 | $1.6M | Reduce -3.8% |
| WMB Williams Cos Inc. | 0.68% | 25,725 | $1.5M | Add +0.5% |
| COF Capital One Financial Corp. | 0.66% | 6,142 | $1.5M | No change |
| VNQI Vanguard GLBL Ex-US Real Est | 0.66% | 32,292 | $1.5M | Add +6.7% |
| WW WW International Inc.-New filed as WW INTL INC | 0.65% | 50,000 | $1.5M | Add +25.0% |
| VNQ Vanguard Real Estate ETF | 0.64% | 16,234 | $1.4M | Add +4.2% |
| KMI Kinder Morgan Inc. | 0.63% | 52,049 | $1.4M | Add +0.8% |
| KGC Kinross Gold Corp. | 0.62% | 49,947 | $1.4M | Reduce -1.7% |
| CME Cme Group Inc. | 0.62% | 5,138 | $1.4M | Add +0.2% |
| ABT Abbott Laboratories | 0.59% | 10,582 | $1.3M | Add +0.1% |
| PKG Packaging Corp. of America | 0.58% | 6,343 | $1.3M | Reduce -0.4% |
| ALL Allstate Corp. | 0.57% | 6,222 | $1.3M | Add +0.1% |
| FTI Technipfmc PLC | 0.56% | 28,572 | $1.3M | Reduce -1.7% |
| ICE Intercontinental Exchange Inc. | 0.56% | 7,802 | $1.3M | Reduce -0.7% |
| ADP Automatic Data Processing | 0.56% | 4,896 | $1.3M | New |
| IVZ Invesco Ltd. | 0.55% | 47,560 | $1.2M | Add +1.6% |
| HOOD Robinhood Markets Inc. Class A | 0.54% | 10,739 | $1.2M | Reduce -1.8% |
| VRSN Verisign Inc. | 0.53% | 4,965 | $1.2M | Reduce -0.7% |
| RSG Republic Services Inc. | 0.53% | 5,644 | $1.2M | Reduce -0.1% |
| MSI Motorola Solutions Inc. | 0.52% | 3,058 | $1.2M | Reduce -0.8% |
| EPU iShares MSCI Peru and Global | 0.48% | 14,883 | $1.1M | Reduce -12.9% |
| B Barrick Mining Corp. | 0.47% | 24,401 | $1.1M | Reduce -1.4% |
| EWY iShares MSCI South Korea ETF | 0.46% | 10,725 | $1.0M | Reduce -15.8% |
| EZA iShares MSCI South Africa Et | 0.46% | 15,001 | $1.0M | Reduce -5.9% |
| ECH iShares MSCI Chile ETF | 0.45% | 25,332 | $1.0M | Reduce -9.6% |
| EPOL iShares MSCI Poland ETF | 0.45% | 28,878 | $1.0M | Reduce -0.5% |
| FMCC Freddie Mac filed as FEDERAL HOME LN MTG CORP | 0.44% | 99,017 | $1.0M | Reduce -1.8% |
| EWM iShares MSCI Malaysia ETF | 0.44% | 36,673 | $1.0M | Reduce -0.8% |
| EWW iShares MSCI Mexico ETF | 0.44% | 14,205 | $985K | Reduce -4.3% |
| GREK Global X MSCI Greece ETF | 0.43% | 14,903 | $982K | Add +2.2% |
| THD iShares MSCI Thailand ETF | 0.43% | 16,383 | $978K | Add +2.0% |
| HLI Houlihan Lokey Inc. | 0.43% | 5,591 | $974K | Reduce -1.6% |
| EIDO iShares MSCI Indonesia ETF | 0.43% | 51,639 | $966K | New |
| EWT iShares MSCI Taiwan ETF | 0.43% | 15,189 | $965K | Reduce -2.9% |
| INDA iShares MSCI India ETF | 0.42% | 17,477 | $945K | New |
| FXI iShares China Large-Cap ETF | 0.41% | 24,413 | $935K | Add +3.3% |
| HIG Hartford Insurance Group Inc. | 0.41% | 6,691 | $922K | Add +1.1% |
| SYF Synchrony Financial | 0.41% | 10,993 | $917K | Add +1.1% |
| APP AppLovin Corp. Class A | 0.40% | 1,356 | $914K | Reduce -1.9% |
| EWO iShares MSCI Austria ETF | 0.40% | 25,754 | $913K | Reduce -3.0% |
| L Loews Corp. | 0.40% | 8,578 | $903K | Add +0.8% |
| FIX Comfort Systems USA Inc. | 0.40% | 964 | $900K | Reduce -1.9% |
| EWP iShares MSCI Spain ETF | 0.40% | 16,648 | $897K | Reduce -2.9% |
| STLN Starling Oncology Inc. filed as THE ONCOLOGY INSTITUTE INC | 0.39% | 250,000 | $890K | Add +55.8% |
| TUR iShares MSCI Turkey ETF | 0.39% | 25,823 | $889K | Add +316.2% |
| EWG iShares MSCI Germany ETF | 0.39% | 20,770 | $883K | Add +6.4% |
| EWD iShares MSCI Sweden ETF | 0.39% | 17,928 | $883K | Add +1.7% |
| EWI iShares MSCI Italy ETF | 0.39% | 16,237 | $882K | Add +1.4% |
| UHS Universal Health Services-B | 0.39% | 4,043 | $881K | Add +0.8% |
| EWL iShares MSCI Switzerland ETF | 0.39% | 14,699 | $881K | Reduce -0.5% |
| EWU iShares MSCI United Kingdom | 0.39% | 20,022 | $881K | Add +1.5% |
| PLTR Palantir Technologies Inc. Class A | 0.39% | 4,941 | $878K | Reduce -1.8% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.39% | 12,503 | $877K | Add +0.9% |
| TRV The Travelers Cos Inc. | 0.39% | 3,022 | $877K | Add +1.2% |
| USB US Bancorp | 0.38% | 16,269 | $868K | Add +1.5% |
Options reported separately and not counted above: EWZ calls ($10.2M), RKT calls ($5.6M), INTC calls ($4.6M), IREN calls ($3.8M).
Portfolio Sells Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | Reduce -76.2% | 3.10% | −9.86 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -74.7% | 0.26% | −0.76 |
| AGNC AGNC Investment Corp. | Reduce -38.8% | 1.33% | −0.69 |
| NLY Annaly Capital Management Inc. | Reduce -39.2% | 1.31% | −0.67 |
| ACGL Arch Capital Group Ltd. | Reduce -38.1% | 0.34% | −0.64 |
| IEF iShares 7-10 Year Treasury B | Reduce -28.3% | 0.87% | −0.37 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -27.7% | 0.88% | −0.36 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -27.4% | 0.88% | −0.36 |
| RBLX Roblox Corp. Class A | Reduce -1.8% | 0.22% | −0.17 |
| HOOD Robinhood Markets Inc. Class A | Reduce -1.8% | 0.54% | −0.17 |
| BLND Blend Labs Inc. Class A | Reduce -36.0% | 0.17% | −0.16 |
| UWMC Uwm Holdings Corp. | Reduce -4.0% | 0.30% | −0.14 |
| MSI Motorola Solutions Inc. | Reduce -0.8% | 0.52% | −0.12 |
| PGR Progressive Corp. | Reduce -1.3% | 0.94% | −0.11 |
| VRSN Verisign Inc. | Reduce -0.7% | 0.53% | −0.10 |
| HLI Houlihan Lokey Inc. | Reduce -1.6% | 0.43% | −0.10 |
| NOTVQ Inotiv Inc. | Sold out | 0.00% | −0.09 |
| SFM Sprouts Farmers Market Inc. | Reduce -1.8% | 0.22% | −0.09 |
| FMCC Freddie Mac | Reduce -1.8% | 0.44% | −0.09 |
| COIN Coinbase Global Inc. Class A | Reduce -1.8% | 0.17% | −0.09 |
| DUOL Duolingo | Reduce -1.8% | 0.10% | −0.09 |
| CHTR Charter Communications Inc. Class A | Reduce -0.9% | 0.16% | −0.06 |
| RSG Republic Services Inc. | Reduce -0.1% | 0.53% | −0.06 |
| CWB SS SPDR BB Conv Sec ETF | Reduce -0.7% | 1.30% | −0.05 |
| RCL Royal Caribbean Cruises Ltd. | Reduce -1.5% | 0.24% | −0.05 |
| RFIX Simplify Bond Bull ETF | Reduce -5.6% | 0.18% | −0.05 |
| PFGC Performance Food Group Co. | Reduce -1.8% | 0.24% | −0.05 |
| PKG Packaging Corp. of America | Reduce -0.4% | 0.58% | −0.05 |
| APP AppLovin Corp. Class A | Reduce -1.9% | 0.40% | −0.04 |
| CF CF Industries Holdings Inc. | Reduce -0.3% | 0.23% | −0.04 |
| NET Cloudflare Inc. Class A | Reduce -1.8% | 0.29% | −0.04 |
| ICE Intercontinental Exchange Inc. | Reduce -0.7% | 0.56% | −0.04 |
| NCLH Norwegian Cruise Line Holdin | Reduce -0.8% | 0.28% | −0.04 |
| ZS Zscaler Inc. | Reduce -1.7% | 0.08% | −0.03 |
| IBKR Interactive Brokers Gro Class A | Reduce -1.7% | 0.28% | −0.03 |
| DVA Davita Inc. | Reduce -1.8% | 0.14% | −0.03 |
| AXON Axon Enterprise Inc. | Reduce -1.8% | 0.10% | −0.03 |
| EWZS iShares MSCI Brazil Small-Ca | Reduce -0.7% | 0.29% | −0.03 |
| EME Emcor Group Inc. | Reduce -2.0% | 0.25% | −0.03 |
| PLTR Palantir Technologies Inc. Class A | Reduce -1.8% | 0.39% | −0.03 |
| EWZ iShares MSCI Brazil ETF | Reduce -3.8% | 0.70% | −0.02 |
| EWN iShares MSCI Netherlands ETF | Reduce -2.2% | 0.38% | −0.02 |
| AEM Agnico Eagle Mines Ltd. | Reduce -1.7% | 0.72% | −0.02 |
| EWT iShares MSCI Taiwan ETF | Reduce -2.9% | 0.43% | −0.02 |
| EWW iShares MSCI Mexico ETF | Reduce -4.3% | 0.44% | −0.02 |
| EQH Equitable Holdings Inc. | Reduce -1.2% | 0.21% | −0.02 |
| THC Tenet Healthcare Corp. | Reduce -1.9% | 0.30% | −0.02 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -1.8% | 0.30% | −0.02 |
| NOW ServiceNow Inc. | Reduce -2.1% | 0.07% | −0.02 |
| ANET Arista Networks Inc. | Reduce -1.9% | 0.11% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| RPV Invesco S&P 500 Pure Value E | New | 9.50% | +9.50 |
| IWD iShares Russell 1000 Value E | New | 0.78% | +0.78 |
| MOH Molina Healthcare Inc. | New | 0.73% | +0.73 |
| ADP Automatic Data Processing | New | 0.56% | +0.56 |
| EIDO iShares MSCI Indonesia ETF | New | 0.43% | +0.43 |
| INDA iShares MSCI India ETF | New | 0.42% | +0.42 |
| TIC Tic Solutions Inc. | New | 0.36% | +0.36 |
| TUR iShares MSCI Turkey ETF | Add +316.2% | 0.39% | +0.30 |
| GM General Motors Co. | Add +1.0% | 1.03% | +0.25 |
| EVC Entravision Communications-A | New | 0.22% | +0.22 |
| FTAI Ftai Aviation Ltd. | Add +12.5% | 0.78% | +0.18 |
| CAH Cardinal Health Inc. | Add +0.0% | 0.78% | +0.17 |
| FOXA Fox Corp. Class A | Add +0.1% | 1.41% | +0.17 |
| WW WW International Inc.-New | Add +25.0% | 0.65% | +0.15 |
| DAL Delta Air Lines Inc. | Add +1.0% | 0.83% | +0.15 |
| STLN Starling Oncology Inc. | Add +55.8% | 0.39% | +0.14 |
| IMSR Terrestrial Energy Inc. | New | 0.11% | +0.11 |
| EWA iShares MSCI Australia ETF | Add +10.0% | 1.73% | +0.08 |
| CSCO Cisco Systems Inc. | Add +0.3% | 0.73% | +0.07 |
| IVZ Invesco Ltd. | Add +1.6% | 0.55% | +0.07 |
| SYF Synchrony Financial | Add +1.1% | 0.41% | +0.06 |
| REM iShares Mortgage Real Estate | Add +5.2% | 1.31% | +0.05 |
| NDAQ Nasdaq Inc. | Add +0.0% | 0.70% | +0.05 |
| DWX State Street SPDR S&P Intern | Add +2.9% | 1.27% | +0.05 |
| BNY Bank of New York Mellon Corp. | Add +0.2% | 0.96% | +0.04 |
| MUB iShares National Muni Bond E | Add +12.3% | 0.37% | +0.04 |
| USB US Bancorp | Add +1.5% | 0.38% | +0.03 |
| CCL Carnival Corp. | Add +0.8% | 0.79% | +0.03 |
| CB Chubb Ltd. | Add +1.0% | 0.37% | +0.03 |
| BKLN Invesco Senior Loan ETF | Add +4.0% | 1.32% | +0.03 |
| EMHY iShares J.P. Morgan Em High | Add +2.5% | 1.26% | +0.03 |
| HCA HCA Healthcare Inc. | Add +0.7% | 0.38% | +0.03 |
| EWG iShares MSCI Germany ETF | Add +6.4% | 0.39% | +0.02 |
| PFF iShares Preferred & Income S | Add +6.0% | 1.32% | +0.02 |
| WELL Welltower Inc. | Add +0.1% | 0.94% | +0.02 |
| PRU Prudential Financial Inc. | Add +0.4% | 0.31% | +0.02 |
| UHS Universal Health Services-B | Add +0.8% | 0.39% | +0.02 |
| GHYG iShares Us&intl High Yield C | Add +5.1% | 0.88% | +0.02 |
| CVS CVS Health Corp. | Add +1.5% | 0.37% | +0.02 |
| EWU iShares MSCI United Kingdom | Add +1.5% | 0.39% | +0.02 |
| SHYG iShares 0-5 YR HY Corp. Bond | Add +4.9% | 0.88% | +0.02 |
| PBP Invesco S&P 500 Buywrite ETF | Add +0.0% | 1.26% | +0.02 |
| EWD iShares MSCI Sweden ETF | Add +1.7% | 0.39% | +0.02 |
| EWI iShares MSCI Italy ETF | Add +1.4% | 0.39% | +0.02 |
| L Loews Corp. | Add +0.8% | 0.40% | +0.01 |
| JNK SS SPDR BB High Yield Bond | Add +4.3% | 0.88% | +0.01 |
| BBJP JPMorgan Betabuilders Japan | Add +3.3% | 1.71% | +0.01 |
| TRV The Travelers Cos Inc. | Add +1.2% | 0.39% | +0.01 |
| HYGV NT HY Val-SCRD BD ETF | Add +4.5% | 0.88% | +0.01 |
| GREK Global X MSCI Greece ETF | Add +2.2% | 0.43% | +0.01 |
Options Activity Q3 2025 → Q4 2025
| RKT Rocket Cos Inc. Class A | call | Reduce -3.3% | 290,000 | $5.6M |
| INTC Intel Corp. | call | Reduce -31.5% | 125,000 | $4.6M |
| IREN Iren Ltd. | call | New | 100,000 | $3.8M |
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 |