1y return+18.9%S&P 500 +20.9%
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 December 31, 2023: $135 against $157 in the S&P 500.2
Lummis Asset 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 |
|---|---|---|---|
| MTDRMatador Resources Co | $16.2M | 9.7% | −1.2% |
| AAPLApple Computer Inc | $15.9M | 9.5% | −1.9% |
| MSFTMicrosoft Corp | $13.1M | 7.8% | −1.4% |
| GOOGAlphabet Inc | $10.8M | 6.5% | −1.3% |
| Berkshire HathawayCUSIP 084670207 | $8.0M | 4.8% | |
| GDGeneral Dynamics Corp | $5.1M | 3.1% | −1.1% |
| BSMBlackstone Minerals Company | $5.1M | 3.0% | |
| GSGoldman Sachs Group, Inc. | $4.9M | 2.9% | −1.5% |
| ROSTRoss Stores Inc | $4.5M | 2.7% | −2.9% |
| GOLFAcushnet Holdings Co | $4.4M | 2.6% | −90.2% |
| ORCLOracle Corp | $4.1M | 2.4% | −2.3% |
| TFPMTriple Flag Precious M | $3.9M | 2.3% | +5.2% |
| EQIXEquinix Inc | $3.9M | 2.3% | |
| TMOThermo Fisher Scientific | $3.4M | 2.0% | |
| JNJJohnson & Johnson | $3.3M | 2.0% | |
| AYIAcuity Brands Inc | $3.2M | 1.9% | −1.3% |
| LLYEli Lilly & Co. | $3.1M | 1.8% | |
| Exxon Mobil CorporationCUSIP 30231G102 | $3.1M | 1.8% | |
| AIGAmerican International Group | $3.1M | 1.8% | |
| Amrize LtdCUSIP H2927K103 | $3.0M | 1.8% | +19.3% |
| ABTAbbott Labs | $2.9M | 1.7% | −1.3% |
| WFCWells Fargo & Co New | $2.6M | 1.5% | −1.1% |
| AMTAmern Tower Corp | $2.5M | 1.5% | |
| SCHWThe Charles Schwab Corp | $1.8M | 1.0% | −1.6% |
| DORMDorman Prods Inc | $1.7M | 1.0% | −34.7% |
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 |
|---|---|---|---|
| GSGoldman Sachs Group, Inc. | December 31, 2023 | +162.2% | $4.9M |
| GOOGLAlphabet Inc. | December 31, 2023 | +155.8% | $1.2M |
| GOOGAlphabet Inc | December 31, 2023 | +150.7% | $10.8M |
| TFPMTriple Flag Precious M | December 31, 2023 | +125.2% | $3.9M |
| WMBWilliams Cos Inc Com | December 31, 2023 | +113.4% | $999K |
| LLYEli Lilly & Co. | December 31, 2023 | +105.8% | $3.1M |
| GOLFAcushnet Holdings Co | December 31, 2023 | +87.6% | $4.4M |
| AYIAcuity Brands Inc | December 31, 2023 | +83.9% | $3.2M |
| WFCWells Fargo & Co New | December 31, 2023 | +67.9% | $2.6M |
| ABBVAbbvie Inc | December 31, 2023 | +62.4% | $1.6M |
Sold off last quarter
- PFEPfizer Inc was $302K
- Bunge LimitedCUSIP H11356104 was $131K
- TLTiShares Barclay's 20 Yr. Trea was $19K
- JEPIJpmorgan Equity Premium was $9,239
- NEENextera Energy Inc was $5,666
- Liberty Media CorpCUSIP 531229854 was $5,526
- JPMBJpmorgan Usd Emrg Mkt was $4,318
- Skyworks SolutionCUSIP 83088MAK8 was $3,977
- HDUSHartford Disciplined US was $3,850
- JEPQJ P Morgan Nasdaq Eqt was $3,331
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +5.9% | +14.8% |
| March 31, 2026 | +1.3% | −4.6% |
| December 31, 2025 | +2.5% | +2.4% |
| September 30, 2025 | +8.0% | +7.8% |
| June 30, 2025 | +4.0% | +10.5% |
| March 31, 2025 | −2.2% | −4.6% |
| December 31, 2024 | +1.5% | +2.1% |
| September 30, 2024 | +2.1% | +5.4% |
| June 30, 2024 | +0.1% | +4.0% |
| March 31, 2024 | +7.8% | +10.0% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Lummis Asset Management, LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2011652&type=13F-HR&dateb=&owner=include&count=40CIK 2011652
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/2011652/000201165226000003/Filed August 3, 2026 · accession 0002011652-26-000003