Mount Lucas Management LP

Two stock lines in Mount Lucas Management's Q1 2026 book did not trade a share: Intel remains exactly 125,000 shares ($5.5 million, 2.0%) and Rocket Companies remains exactly 323,000 shares ($4.6 million, 1.7%). Stability there is the foil for everything else. Around those fixed points the firm built Invesco S&P 500 Pure Value (RPV) to 11.1% and iShares MSCI Brazil (EWZ) to 7.8%, roughly 2.6×'d a Treasury-ladder (SHY/IEI/IEF), fully exited QQQ, and opened a new Adobe stake—leaving a $271 million, 167-name multi-asset book that edits factors hard while parking a few single names.