Lummis Asset Management, LP
SEC Form 13F institutional filer · CIK 0002011652
13F-HR · 110 reported holdings · 2026-03-31
Reported long-US-equity value
$0.12B
Top-10 concentration
58.5%
Lummis Asset Management, LP — $119M AUM allocation strategy
Lummis Asset Management, LP files SEC Form 13F and reports $119M of long US equity value across 110 reported holdings for 2026-03-31.
Its largest sector bet is Information Technology 25.7%, followed by Financials 14.5% and Health Care 9.6%.
The top 10 holdings account for 58% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Lummis Asset Management, LP — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$119M
total across 110 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
58% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$AES +354K sh · +$321K+$DVN +2.2K sh · +$593K+$AMGN +100 sh · +$98.3K
Biggest trims (shares)
−$AAPL −2.07K sh · −$1.1M−$GS −1.91K sh · −$311K−$ORCL −1.86K sh · −$1.64M
Exited to nil (held last quarter, gone now)
$FDS ($40.6K last qtr)$BKNG ($16.1K last qtr)$QCOM ($7.18K last qtr)$ADBE ($3.15K last qtr)$VLTO ($1.9K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Technology Hardware, Storage & Peripherals11.5%—
- Systems Software10.4%—
- Interactive Media & Services8.6%—
- Multi-Sector Holdings6.3%—
- Pharmaceuticals4.6%—
- Aerospace & Defense4.1%—
- Apparel Retail3.8%—
- Application Software3.7%—
- Other holdings46.9%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $AAPL | Apple Inc | 52.5K | $13.7M | -2.07K | 11.5% |
| $MSFT | Microsoft Corporation | 31.9K | $12.5M | -924 | 10.4% |
| $GOOGL | Alphabet Inc | 31.6K | $10.2M | -1.24K | 8.6% |
| $BRK.B | Berkshire Hathaway Inc.-Class B | 15.7K | $7.49M | -375 | 6.3% |
| $GD | General Dynamics Corporation | 14.3K | $4.9M | -591 | 4.1% |
| $ROST | Ross Stores Inc | 20.7K | $4.55M | -1.09K | 3.8% |
| $ORCL | Oracle Corporation | 29.5K | $4.46M | -1.86K | 3.7% |
| $GS | Goldman Sachs Group Inc | 4.97K | $4.28M | -1.91K | 3.6% |
| $EQIX | Equinix Inc. Common Stock REIT | 3.72K | $4.03M | +0 | 3.4% |
| $AES | The AES Corporation | 397K | $3.75M | +354K | 3.1% |
…and 100 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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