Lummis Asset Management, LP

RIA/Wealth

Lummis Asset Management, LP is a RIA/Wealth based in Fort Worth, TX led by Palmer Bradley Lummis, reporting $227.0M in AUM as of Q3 2025 with 53% concentrated in top 10 holdings.

PresidentPalmer Bradley Lummis

Portfolio Value: $151.9M
Positions: 150
Top Holding: MTDR at 9.95%
Last Reported: Q3 2025

Address301 Commerce Street, Suite 1380, Fort Worth, TX, 76102, United States

Top Holdings

Largest long holdings in Lummis Asset Management, LP's portfolio (53.3% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Matador Resources MTDR	Oil & Gas Exploration & Production Energy	$15.1M	9.95%	+$1.9K Bought	0.27% 336.5K shares	Q4 2023 Held for 1y 11m
2 Apple AAPL	Consumer Electronics Technology	$14.1M	9.29%	+$2.2M Bought	0.00% 55.4K shares	Q4 2023 Held for 1y 11m
3 Oracle ORCL	Software - Infrastructure Technology	$9.1M	5.98%	-$212.6K Sold	0.00% 32.3K shares	Q4 2023 Held for 1y 11m
4 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$8.3M	5.49%	+$1.7M Bought	0.00% 20.5K shares	Q4 2023 Held for 1y 11m
5 Microsoft MSFT	Software - Infrastructure Technology	$8.2M	5.41%	-$9.1M Sold	0.00% 15.9K shares	Q4 2023 Held for 1y 11m
6 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$8.1M	5.36%	-$16.6K Sold	0.00% 33.4K shares	Q4 2023 Held for 1y 11m
7 General Dynamics GD	Aerospace & Defense Industrials	$5.1M	3.36%	-$8.9K Sold	0.01% 15.0K shares	Q4 2023 Held for 1y 11m
8 Black Stone Minerals BSM	Oil & Gas Exploration & Production Energy	$4.5M	2.95%	+$3.3K Bought	0.16% 340.8K shares	Q4 2023 Held for 1y 11m
9 Goldman Sachs Group GS	Financial - Capital Markets Financial Services	$4.2M	2.77%	-$147.3K Sold	0.00% 5.3K shares	Q4 2023 Held for 1y 11m
10 Abbott ABT	Medical - Devices Healthcare	$4.2M	2.74%	-$2.0M Sold	0.00% 31.1K shares	Q4 2023 Held for 1y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Lummis Asset Management, LP's latest filing

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Market Value

$151.9M

Prior: $152.7M

Q/Q Change

-0.519%

-$791.9K

Net Flows % of MV

-6.96%

Turnover Ratio

7.28%

New Purchases

3 stocks

$141.7K

Added To

14 stocks

+$5.5M

Sold Out Of

9 stocks

$1.9M

Reduced Holdings

23 stocks

-$14.3M

Increased Positions

Position	Shares Δ	Change
1 Vanguard Dividend Appreciation VIG	New	0 → 400.0 +$86.3K
2 Vanguard FTSE Pacific ETF VPL	New	0 → 464.0 +$40.8K
3 International Business Machines IBM	New	0 → 52.0 +$14.7K
4 Bunge BG	+647.1%	1.0K → 7.5K +$124.6K
5 UnitedHealth Group UNH	+441.3%	46.0 → 249.0 +$70.1K

Decreased Positions

Position	Shares Δ	Change
1 Garrett Motion Inc. GTX	Sold	175.4K → 0 −$1.8M
2 Conagra Brands CAG	Sold	1.5K → 0 −$28.9K
3 Medtronic MDT	Sold	213.0 → 0 −$18.6K
4 APA Corporation APA	Sold	700.0 → 0 −$12.8K
5 Vanguard FTSE Emerging Markets VWO	Sold	212.0 → 0 −$10.5K

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Analytics

Portfolio insights and performance metrics for Lummis Asset Management, LP

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Sector Allocation

Technology

21.40%

Energy

17.80%

Financial Services

15.50%

Healthcare

9.70%

Industrials

7.10%

Communication Services

6.10%

Consumer Cyclical

5.70%

Consumer Defensive

4.80%

Real Estate

4.10%

ETF

3.10%

Basic Materials

2.60%

Utilities

0.30%

Market Cap Distribution

Mega Cap (> $200B)

49.53%

Large Cap ($10B - $200B)

27.86%

Mid Cap ($2B - $10B)

18.77%

Small Cap ($300M - $2B)

0.03%

Micro Cap ($50M - $300M)

0.00%

Nano Cap (< $50M)

0.02%

N/A (ETF or Unknown)

3.79%

Portfolio Concentration

Top 10 Holdings %

53.3%

Top 20 Holdings %

74.13%

Top 50 Holdings %

96.31%

Top 100 Holdings %

99.75%