Mount Lucas Management LP

Hedge Fund • Global Macro

Mount Lucas Management LP is a Global Macro Hedge Fund based in Newtown, PA led by Timothy John Rudderow, reporting $1.1B in AUM as of Q3 2025 with 49% ETF concentration.

CEOTimothy John Rudderow

Portfolio Value: $220.9M
Positions: 157
Top Holding: QQQ at 13.01%
Last Reported: Q3 2025

Address405 South State Street, Newtown, PA, 18940, United States

Top Holdings

Largest long holdings in Mount Lucas Management LP's portfolio (26.9% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Invesco QQQ Trust QQQ	ETF ETF	$28.7M	13.01%	-$1.0M Sold	— 47.8K shares	Q4 2023 Held for 1y 11m
2 AGNC Investment Corp. AGNC	REIT - Mortgage Real Estate	$4.5M	2.03%	-$1.1M Sold	0.04% 457.0K shares	Q1 2023 Held for 2y 8m
3 Annaly Capital Management NLY	REIT - Mortgage Real Estate	$4.4M	1.99%	-$1.5M Sold	0.03% 217.0K shares	Q1 2023 Held for 2y 8m
4 JPMorgan BetaBuilders Japan BBJP	ETF ETF	$3.8M	1.71%	-$19.0K Sold	— 56.9K shares	Q1 2023 Held for 2y 8m
5 EWA iShares MSCI Australia EWA	ETF ETF	$3.7M	1.66%	-$9.3K Sold	— 135.9K shares	Q4 2022 Held for 2y 11m
6 SPDR Bloomberg Convertible Securities ETF CWB	ETF ETF	$3.0M	1.36%	-$62.5K Sold	— 33.1K shares	Q2 2023 Held for 2y 5m
7 iShares Preferred and Income Securities ETF PFF	ETF ETF	$2.9M	1.30%	+$2.9M Bought	— 91.0K shares	Q3 2023 Held for 2y 2m
8 Invesco Senior Loan BKLN	ETF ETF	$2.9M	1.30%	+$155.2K Bought	— 136.9K shares	Q4 2022 Held for 2y 11m
9 iShares Mortgage Real Estate REM	Unknown Unknown	$2.8M	1.26%	+$2.8M Bought	— 127.0K shares	Q1 2024 Held for 1y 8m
10 Vanguard High Dividend Yield VYM	ETF ETF	$2.8M	1.25%	-$50.2K Sold	— 19.6K shares	Q4 2022 Held for 2y 11m

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Changes

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

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Market Value

$220.9M

Prior: $208.7M

Q/Q Change

+5.84%

+$12.2M

Net Flows % of MV

-4.61%

Turnover Ratio

7.2%

New Purchases

3 stocks

$3.1M

Added To

48 stocks

+$4.0M

Sold Out Of

5 stocks

$3.3M

Reduced Holdings

94 stocks

-$13.9M

Increased Positions

Position	Shares Δ	Change
1 FTAI Aviation Ltd. FTAI	New	0 → 8.0K +$1.3M
2 WW International, Inc. WW	New	0 → 40.0K +$1.1M
3 Rocket Companies RKT	New	0 → 34.0K +$658.9K
4 The Oncology Institute, Inc. TOI	+108.44%	77.0K → 160.5K +$291.4K
5 Vanguard Real Estate VNQ	+95.94%	7.9K → 15.6K +$697.2K

Decreased Positions

Position	Shares Δ	Change
1 Automatic Data Processing, Inc. ADP	Sold	4.8K → 0 −$1.5M
2 iShares MSCI Philippines EPHE	Sold	32.2K → 0 −$872.5K
3 iShares MSCI India INDA	Sold	13.0K → 0 −$725.7K
4 Soho House & Co. SHCO	Sold	25.0K → 0 −$183.8K
5 CVRx, Inc. CVRX	Sold	5.1K → 0 −$30.0K