Mount Lucas Management LP

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 5, 2026), Mount Lucas Management LP reported 165 stock positions worth $270.8 million. Its top holding was Invesco S&P 500 Pure Value E (RPV) at 11.1% of the portfolio, followed by iShares MSCI Brazil ETF (EWZ, 7.8%) and Adobe (ADBE, 3.1%). Compared with Q4 2025, it opened 39 new positions, sold out of 41, added to 72 and reduced 45. The biggest buy was iShares MSCI Brazil ETF (EWZ, shares +1004%) and the biggest sale an exit from Invesco QQQ Trust Series 1 (QQQ).

Most Recent 13F
Q2 2026
Location
Newtown, PA
CIK
0001185072
Portfolio Value
$270.8M (Q1 2026)
SEC Filing
0001140361-26-019022 ↗ filed May 5, 2026

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $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 $270.8M Q1 2026 Q2 2026: $280.7M Q2 2026

Holdings 165 stocks · $270.8M
RPV Invesco S&P 500 Pure Value E 11.05% 278,712 $29.9M Add +34.2%
EWZ iShares MSCI Brazil ETF 7.76% 547,564 $21.0M Add +1003.9%
ADBE Adobe Inc. 3.14% 35,000 $8.5M New
INTC Intel Corp. 2.04% 125,000 $5.5M New
SHY iShares 1-3 Year Treasury Bo 1.91% 62,719 $5.2M Add +161.0%
IEI iShares 3-7 Year Treasury Bo 1.89% 43,217 $5.1M Add +160.3%
IEF iShares 7-10 Year Treasury B 1.88% 53,239 $5.1M Add +160.0%
RKT Rocket Cos Inc. Class A 1.70% 323,000 $4.6M Add +878.8%
NBIS Nebius Group NV 1.53% 40,000 $4.2M New
EWA iShares MSCI Australia ETF 1.44% 140,370 $3.9M Reduce -6.0%
BBJP JPMorgan Betabuilders Japan 1.43% 56,017 $3.9M Reduce -4.6%
IREN Iren Ltd. filed as IREN LIMITED 1.27% 100,000 $3.4M New
T AT&T Inc. 1.24% 116,088 $3.4M Add +52.9%
BKLN Invesco Senior Loan ETF 1.23% 162,896 $3.3M Add +14.4%
CWB SS SPDR BB Conv Sec ETF 1.17% 34,764 $3.2M Add +5.9%
PBP Invesco S&P 500 Buywrite ETF 1.12% 137,947 $3.0M Add +10.9%
EMHY iShares J.P. Morgan Em High 1.12% 76,750 $3.0M Add +8.7%
EMB iShares JP Morgan Usd Emergi 1.11% 32,045 $3.0M Add +9.0%
VYM Vanguard High DVD Yield ETF 1.11% 20,219 $3.0M Add +3.5%
DWX State Street SPDR S&P Intern 1.08% 64,345 $2.9M Reduce -1.6%
NEM Newmont Corp. 1.05% 26,210 $2.8M Add +3.3%
COR Cencora Inc. 1.01% 8,665 $2.7M Add +32.6%
L Loews Corp. 0.98% 24,959 $2.7M Add +191.0%
PFF iShares Preferred & Income S 0.95% 84,540 $2.6M Reduce -12.4%
CAH Cardinal Health Inc. 0.94% 12,013 $2.5M Add +39.8%
IWD iShares Russell 1000 Value E 0.93% 11,825 $2.5M Add +40.7%
HCA HCA Healthcare Inc. 0.88% 5,040 $2.4M Add +175.3%
KGC Kinross Gold Corp. 0.82% 72,688 $2.2M Add +45.5%
SHYG iShares 0-5 YR HY Corp. Bond 0.80% 51,356 $2.2M Add +10.8%
JNK SS SPDR BB High Yield Bond 0.80% 22,574 $2.2M Add +10.5%
HYGV NT HY Val-SCRD BD ETF 0.80% 53,909 $2.2M Add +10.7%
GHYG iShares Us&intl High Yield C 0.79% 47,633 $2.1M Add +10.2%
FALN iShares Fallen Angels ETF 0.79% 79,636 $2.1M Add +10.0%
JNJ Johnson & Johnson 0.77% 8,494 $2.1M New
VZ Verizon Communications Inc. 0.73% 39,230 $2.0M Add +129.2%
IVZ Invesco Ltd. 0.71% 79,693 $1.9M Add +67.6%
VTR Ventas Inc. 0.70% 23,179 $1.9M New
CBOE Cboe Global Markets Inc. 0.69% 6,634 $1.9M New
DAL Delta Air Lines Inc. 0.67% 27,207 $1.8M Add +0.3%
LHX L3HARRIS Technologies Inc. 0.66% 5,157 $1.8M New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.65% 10,977 $1.8M New
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.64% 14,573 $1.7M Reduce -22.2%
CSCO Cisco Systems Inc. 0.63% 22,148 $1.7M Add +4.0%
GD General Dynamics Corp. 0.62% 4,902 $1.7M New
GL Globe Life Inc. 0.62% 12,054 $1.7M Add +109.3%
MNST Monster Beverage Corp. 0.60% 22,334 $1.6M New
COF Capital One Financial Corp. 0.59% 8,799 $1.6M Add +43.3%
CME Cme Group Inc. 0.59% 5,423 $1.6M Add +5.5%
B Barrick Mining Corp. 0.59% 39,107 $1.6M Add +60.3%
ROL Rollins Inc. 0.56% 28,547 $1.5M New
UAL United Airlines Holdings Inc. 0.56% 16,339 $1.5M Reduce -19.2%
CCL Carnival Corp. 0.55% 57,162 $1.5M Reduce -2.7%
FTAI Ftai Aviation Ltd. 0.54% 6,000 $1.5M Reduce -33.3%
NDAQ Nasdaq Inc. 0.53% 16,908 $1.4M Add +3.8%
REM iShares Mortgage Real Estate 0.50% 63,014 $1.4M Reduce -52.8%
VRSN Verisign Inc. 0.48% 5,193 $1.3M Add +4.6%
ICE Intercontinental Exchange Inc. 0.47% 8,157 $1.3M Add +4.5%
RSG Republic Services Inc. 0.47% 5,854 $1.3M Add +3.7%
MOH Molina Healthcare Inc. 0.47% 9,500 $1.3M No change
DG Dollar General Corp. 0.46% 10,538 $1.3M New
AEM Agnico Eagle Mines Ltd. 0.46% 6,080 $1.2M Reduce -36.8%
F Ford Motor Co. filed as FORD MTR CO 0.46% 106,840 $1.2M New
MPC Marathon Petroleum Corp. 0.45% 5,032 $1.2M New
MET Metlife Inc. 0.42% 16,088 $1.1M Reduce -34.5%
ABT Abbott Laboratories 0.42% 11,006 $1.1M Add +4.0%
GM General Motors Co. 0.40% 14,625 $1.1M Reduce -48.7%
FTI Technipfmc PLC 0.40% 15,663 $1.1M Reduce -45.2%
ADM Archer-Daniels-Midland Co. 0.38% 14,336 $1.0M New
EWM iShares MSCI Malaysia ETF 0.38% 36,137 $1.0M Reduce -1.5%
EPOL iShares MSCI Poland ETF 0.37% 27,693 $1.0M Reduce -4.1%
TUR iShares MSCI Turkey ETF 0.37% 25,988 $1.0M Add +0.6%
PGR Progressive Corp. 0.37% 4,999 $991K Reduce -46.3%
EWT iShares MSCI Taiwan ETF 0.37% 13,955 $990K Reduce -8.1%
EWW iShares MSCI Mexico ETF 0.36% 13,046 $981K Reduce -8.2%
THD iShares MSCI Thailand ETF 0.36% 14,070 $976K Reduce -14.1%
ECH iShares MSCI Chile ETF 0.36% 24,274 $965K Reduce -4.2%
CF CF Industries Holdings Inc. 0.34% 7,099 $922K Add +3.6%
TRV The Travelers Cos Inc. 0.34% 3,135 $914K Add +3.7%
FLRN SS SPDR BB Ig Float RT ETF 0.34% 29,600 $911K Add +10.1%
EPU iShares MSCI Peru and Global 0.34% 11,252 $908K Reduce -24.4%
IGSB iShares 1-5Y Inv Grade Corp. 0.33% 17,157 $902K Add +9.9%
SCHP Schwab U.S. Tips ETF 0.33% 33,769 $899K Add +9.4%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.33% 8,174 $891K Add +10.3%
EWP iShares MSCI Spain ETF 0.33% 16,398 $891K Reduce -1.5%
MUB iShares National Muni Bond E 0.33% 8,376 $889K Add +8.8%
PFG Principal Financial Group 0.33% 9,836 $886K New
HIG Hartford Insurance Group Inc. 0.32% 6,499 $879K Reduce -2.9%
EWU iShares MSCI United Kingdom 0.32% 19,282 $878K Reduce -3.7%
EWO iShares MSCI Austria ETF 0.32% 24,772 $878K Reduce -3.8%
EZA iShares MSCI South Africa Et 0.32% 12,941 $877K Reduce -13.7%
WIP State Street SPDR Ftse Inter 0.32% 22,138 $877K Add +4.2%
EWI iShares MSCI Italy ETF 0.32% 16,372 $875K Add +0.8%
MOS The Mosaic Co. 0.32% 34,163 $871K New
USB US Bancorp 0.32% 16,666 $867K Add +2.4%
ALL Allstate Corp. 0.32% 4,174 $865K Reduce -32.9%
GREK Global X MSCI Greece ETF 0.32% 13,517 $863K Reduce -9.3%
EWN iShares MSCI Netherlands ETF 0.32% 14,946 $860K Reduce -0.9%
EWY iShares MSCI South Korea ETF 0.32% 6,976 $858K Reduce -35.0%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.32% 12,897 $855K Add +3.1%
RF Regions Financial Corp. 0.31% 32,521 $849K Add +2.5%

Show all 165 holdings

Portfolio Sells Q4 2025 → Q1 2026
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −3.10
FOXA Fox Corp. Class A Sold out 0.00% −1.41
NLY Annaly Capital Management Inc. Sold out 0.00% −1.31
AGNC AGNC Investment Corp. Reduce -79.7% 0.21% −1.12
WELL Welltower Inc. Sold out 0.00% −0.94
REM iShares Mortgage Real Estate Reduce -52.8% 0.50% −0.81
WMT Walmart Inc. Sold out 0.00% −0.77
WAB Wabtec Corp. Sold out 0.00% −0.70
WMB Williams Cos Inc. Sold out 0.00% −0.68
KMI Kinder Morgan Inc. Sold out 0.00% −0.63
GM General Motors Co. Reduce -48.7% 0.40% −0.62
PKG Packaging Corp. of America Sold out 0.00% −0.58
PGR Progressive Corp. Reduce -46.3% 0.37% −0.57
ADP Automatic Data Processing Sold out 0.00% −0.56
HOOD Robinhood Markets Inc. Class A Sold out 0.00% −0.54
MSI Motorola Solutions Inc. Sold out 0.00% −0.52
NTRS Northern Trust Corp. Reduce -58.2% 0.26% −0.46
UAL United Airlines Holdings Inc. Reduce -19.2% 0.56% −0.45
FMCC Freddie Mac Sold out 0.00% −0.44
MET Metlife Inc. Reduce -34.5% 0.42% −0.44
EIDO iShares MSCI Indonesia ETF Sold out 0.00% −0.43
INDA iShares MSCI India ETF Sold out 0.00% −0.42
FXI iShares China Large-Cap ETF Sold out 0.00% −0.41
FIX Comfort Systems USA Inc. Sold out 0.00% −0.40
VNQ Vanguard Real Estate ETF Reduce -53.9% 0.24% −0.39
EWG iShares MSCI Germany ETF Sold out 0.00% −0.39
VNQI Vanguard GLBL Ex-US Real Est Reduce -47.6% 0.28% −0.38
PFF iShares Preferred & Income S Reduce -12.4% 0.95% −0.38
CINF Cincinnati Financial Corp. Sold out 0.00% −0.37
CB Chubb Ltd. Sold out 0.00% −0.37
HPE Hewlett Packard Enterprise Sold out 0.00% −0.36
ACGL Arch Capital Group Ltd. Sold out 0.00% −0.34
BNY Bank of New York Mellon Corp. Reduce -22.2% 0.64% −0.32
PRU Prudential Financial Inc. Sold out 0.00% −0.31
EWQ iShares MSCI France ETF Reduce -75.6% 0.07% −0.31
GMED Globus Medical Inc. Class A Sold out 0.00% −0.30
APP AppLovin Corp. Class A Reduce -46.3% 0.11% −0.30
THC Tenet Healthcare Corp. Sold out 0.00% −0.30
EWA iShares MSCI Australia ETF Reduce -6.0% 1.44% −0.29
BBJP JPMorgan Betabuilders Japan Reduce -4.6% 1.43% −0.29
RY Royal Bank of Canada Sold out 0.00% −0.28
NCLH Norwegian Cruise Line Holdin Sold out 0.00% −0.28
AEM Agnico Eagle Mines Ltd. Reduce -36.8% 0.46% −0.27
HLI Houlihan Lokey Inc. Reduce -43.4% 0.17% −0.26
QQQM Invesco Nasdaq 100 ETF Sold out 0.00% −0.26
PWR Quanta Services Inc. Sold out 0.00% −0.25
ALL Allstate Corp. Reduce -32.9% 0.32% −0.25
EME Emcor Group Inc. Sold out 0.00% −0.25
CCL Carnival Corp. Reduce -2.7% 0.55% −0.25
FTAI Ftai Aviation Ltd. Reduce -33.3% 0.54% −0.24

Portfolio Buys Q4 2025 → Q1 2026
EWZ iShares MSCI Brazil ETF Add +1003.9% 7.76% +7.06
ADBE Adobe Inc. New 3.14% +3.14
INTC Intel Corp. New 2.04% +2.04
RPV Invesco S&P 500 Pure Value E Add +34.2% 11.05% +1.55
NBIS Nebius Group NV New 1.53% +1.53
RKT Rocket Cos Inc. Class A Add +878.8% 1.70% +1.42
IREN Iren Ltd. New 1.27% +1.27
SHY iShares 1-3 Year Treasury Bo Add +161.0% 1.91% +1.03
IEI iShares 3-7 Year Treasury Bo Add +160.3% 1.89% +1.02
IEF iShares 7-10 Year Treasury B Add +160.0% 1.88% +1.00
JNJ Johnson & Johnson New 0.77% +0.77
VTR Ventas Inc. New 0.70% +0.70
CBOE Cboe Global Markets Inc. New 0.69% +0.69
LHX L3HARRIS Technologies Inc. New 0.66% +0.66
TJX TJX Companies Inc. New 0.65% +0.65
GD General Dynamics Corp. New 0.62% +0.62
MNST Monster Beverage Corp. New 0.60% +0.60
L Loews Corp. Add +191.0% 0.98% +0.58
ROL Rollins Inc. New 0.56% +0.56
HCA HCA Healthcare Inc. Add +175.3% 0.88% +0.50
DG Dollar General Corp. New 0.46% +0.46
F Ford Motor Co. New 0.46% +0.46
MPC Marathon Petroleum Corp. New 0.45% +0.45
VZ Verizon Communications Inc. Add +129.2% 0.73% +0.42
T AT&T Inc. Add +52.9% 1.24% +0.41
ADM Archer-Daniels-Midland Co. New 0.38% +0.38
PFG Principal Financial Group New 0.33% +0.33
MOS The Mosaic Co. New 0.32% +0.32
WHR Whirlpool Corp. New 0.30% +0.30
GL Globe Life Inc. Add +109.3% 0.62% +0.26
EXE Expand Energy Corp. New 0.25% +0.25
MU Micron Technology Inc. New 0.24% +0.24
TKO Tko Group Holdings Inc. New 0.23% +0.23
TD Toronto-Dominion Bank New 0.23% +0.23
CDE Coeur Mining Inc. New 0.22% +0.22
MDGL Madrigal Pharmaceuticals Inc. New 0.22% +0.22
SKM SK Telecom Co. Ltd.-Spon ADR New 0.22% +0.22
JLL Jones Lang Lasalle Inc. New 0.20% +0.20
KGC Kinross Gold Corp. Add +45.5% 0.82% +0.20
EVR Evercore Inc. Class A New 0.19% +0.19
SGI Somnigroup International Inc. New 0.19% +0.19
QXO Qxo Inc. New 0.18% +0.18
IVZ Invesco Ltd. Add +67.6% 0.71% +0.16
CELH Celsius Holdings Inc. New 0.16% +0.16
STX Seagate Technology Holdings New 0.16% +0.16
NXT Nextpower Inc. New 0.16% +0.16
CAH Cardinal Health Inc. Add +39.8% 0.94% +0.16
IWD iShares Russell 1000 Value E Add +40.7% 0.93% +0.15
PAAS Pan American Silver Corp. New 0.12% +0.12
B Barrick Mining Corp. Add +60.3% 0.59% +0.12

Options Activity Q4 2025 → Q1 2026
EWZ iShares MSCI Brazil ETF call Sold out 320,000 $10.2Mbefore exit
RKT Rocket Cos Inc. Class A call Sold out 290,000 $5.6Mbefore exit
INTC Intel Corp. call Sold out 125,000 $4.6Mbefore exit
IREN Iren Ltd. call Sold out 100,000 $3.8Mbefore 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