1y return+13.7%S&P 500 +20.9%
3y return+43.3%S&P 500 +68.5%
5y return+29.9%S&P 500 +74.5%
10y return+76.1%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $176 against $357 in the S&P 500.2
Mount Lucas Management LPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| EWZIshares Msci Brazil Etf | $19.0M | 6.8% | |
| RPVInvesco S&p 500 Pure Value E | $15.9M | 5.7% | −49.9% |
| QQQInvesco Qqq Trust Series 1 | $15.6M | 5.6% | New |
| Nebius Group NvCUSIP N97284108 | $8.3M | 3.0% | −25.0% |
| SHYIshares 1-3 Year Treasury Bo | $6.9M | 2.5% | +34.7% |
| Iren LtdCUSIP Q4982L109 | $4.6M | 1.6% | |
| BBJPJpmorgan Betabuilders Japan | $4.2M | 1.5% | |
| EWAIshares Msci Australia Etf | $4.1M | 1.5% | +4.9% |
| IEIIshares 3-7 Year Treasury Bo | $4.0M | 1.4% | −21.3% |
| ADBEAdobe Inc | $3.6M | 1.3% | −50.0% |
| BKLNInvesco Senior Loan Etf | $3.3M | 1.2% | |
| CWBSs Spdr Bb Conv Sec Etf | $3.3M | 1.2% | −12.0% |
| PBPInvesco S&p 500 Buywrite Etf | $3.2M | 1.1% | |
| EMHYIshares J.p. Morgan Em High | $3.2M | 1.1% | +1.4% |
| EMBIshares Jp Morgan Usd Emergi | $3.2M | 1.1% | +2.2% |
| VYMVanguard High Dvd Yield Etf | $3.1M | 1.1% | −1.8% |
| DWXState Street Spdr S&p Intern | $3.1M | 1.1% | +5.6% |
| REMIshares Mortgage Real Estate | $3.0M | 1.1% | +118.7% |
| CAHCardinal Health Inc | $2.9M | 1.0% | +2.6% |
| LLoews Corp | $2.9M | 1.0% | +3.0% |
| Invesco LtdCUSIP G491BT108 | $2.8M | 1.0% | +32.7% |
| CSCOCisco Systems Inc | $2.7M | 1.0% | +3.8% |
| DALDelta Air Lines Inc | $2.6M | 0.9% | +2.5% |
| PFFIshares Preferred & Income S | $2.6M | 0.9% | |
| MUMicron Technology Inc | $2.6M | 0.9% | +16.9% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| UALUnited Airlines Holdings Inc | December 31, 2022 | +260.7% | $2.1M |
| BNYBank Of New York Mellon Corp | December 31, 2023 | +177.8% | $2.2M |
| Nebius Group NvCUSIP N97284108 | March 31, 2026 | +166.2% | $8.3M |
| DALDelta Air Lines Inc | June 30, 2023 | +97.0% | $2.6M |
| CSCOCisco Systems Inc | June 30, 2025 | +69.3% | $2.7M |
| Invesco LtdCUSIP G491BT108 | June 30, 2025 | +67.3% | $2.8M |
| LLoews Corp | December 31, 2023 | +62.7% | $2.9M |
| BBJPJpmorgan Betabuilders Japan | March 31, 2023 | +55.6% | $4.2M |
| CWBSs Spdr Bb Conv Sec Etf | June 30, 2023 | +54.1% | $3.3M |
| VYMVanguard High Dvd Yield Etf | June 30, 2023 | +49.0% | $3.1M |
Sold off last quarter
- INTCIntel Corp was $5.5M
- Carnival CorpCUSIP 143658300 was $1.5M
- Technipfmc PLCCUSIP G87110105 was $1.1M
- VNQIVanguard Glbl Ex-us Real Est was $752K
- IBKRInteractive Brokers Gro-cl A was $695K
- NTRSNorthern Trust Corp was $692K
- USFDUs Foods Holding Corp was $651K
- CVNACarvana Co was $586K
- EXELExelixis Inc was $556K
- PFGCPerformance Food Group Co was $530K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +6.0% | +14.8% |
| March 31, 2026 | −1.5% | −4.6% |
| December 31, 2025 | +2.0% | +2.4% |
| September 30, 2025 | +6.7% | +7.8% |
| June 30, 2025 | +7.5% | +10.5% |
| March 31, 2025 | +4.4% | −4.6% |
| December 31, 2024 | −3.5% | +2.1% |
| September 30, 2024 | +7.2% | +5.4% |
| June 30, 2024 | −3.3% | +4.0% |
| March 31, 2024 | +9.2% | +10.0% |
| December 31, 2023 | +5.1% | +11.2% |
| September 30, 2023 | −2.2% | −3.6% |
| June 30, 2023 | +1.3% | +8.3% |
| March 31, 2023 | −2.6% | +7.0% |
| December 31, 2022 | +8.6% | +7.1% |
| September 30, 2022 | −3.5% | −5.3% |
| June 30, 2022 | −13.9% | −16.5% |
| March 31, 2022 | −2.4% | −4.9% |
| December 31, 2021 | +7.0% | +10.7% |
| September 30, 2021 | −2.6% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Mount Lucas Management LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1185072&type=13F-HR&dateb=&owner=include&count=40CIK 1185072
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1185072/000114036126031910/Filed August 10, 2026 · accession 0001140361-26-031910