2026 Q1 Portfolio Activity
In 2026 Q1, Lummis Asset Management, LP maintained a portfolio of 202 distinct positions. The most significant new addition was Dorman Prods Inc, now representing 1.26% of the total fund value. They heavily accumulated shares in Vanguard Pacific VPRS, increasing the position by 2973.3%. The fund also reduced its exposure to Goldman Sachs Group, Inc. by 28.0%.
Position History
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Total Positions
202
Quarter
2026 Q1
Top Holding
MTDR (12.6%)
Top 10 Concentration
52.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 202
Lummis Asset Management, LP Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
MTDR
Matador Resourc...
|
Energy | 12.58% | 8.78% |
#1
2
Prev: #3
|
6.5 |
—
|
-3,638 | -1.1% |
P
S
|
332,594 | $21,050,411 |
$46.25
+33.4%
|
2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | ||
|
AAPL
APPLE INC
|
Technology | 8.21% | 9.12% |
#2
Prev: #2
|
5.3 |
—
|
-2,072 | -3.8% |
P
S
|
52,497 | $13,730,903 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
MSFT
Microsoft Corp
|
Technology | 7.44% | 9.76% |
#3
2
Prev: #1
|
4.5 |
—
|
-924 | -2.8% |
P
S
|
31,890 | $12,453,531 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
GOOG
Alphabet Inc
|
Communication Services | 6.13% | 6.35% |
#4
Prev: #4
|
3.5 |
—
|
-1,240 | -3.8% |
P
S
|
31,642 | $10,248,209 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
BRK.B
Berkshire Hatha...
|
Financial Services | 4.47% | 4.97% |
#5
Prev: #5
|
2.8 |
—
|
-375 | -2.3% |
P
S
|
15,690 | $7,485,149 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
BSM
Blackstone Mine...
|
Energy | 2.94% | 2.77% |
#6
3
Prev: #9
|
1.7 |
—
|
800 | 0.2% |
P
S
|
343,843 | $4,926,427 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
GD
General Dynamic...
|
Industrials | 2.93% | 3.07% |
#7
Prev: #7
|
1.7 |
—
|
-591 | -4.0% |
P
S
|
14,255 | $4,897,682 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
ROST
Ross Stores Inc
|
Consumer Cyclical | 2.72% | 2.41% |
#8
3
Prev: #11
|
1.6 |
—
|
-1,087 | -5.0% |
P
S
|
20,651 | $4,549,993 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
ORCL
Oracle Corp
|
Technology | 2.67% | 3.75% |
#9
3
Prev: #6
|
1.6 |
—
|
-1,857 | -5.9% |
P
S
|
29,461 | $4,459,985 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
GS
Goldman Sachs G...
|
Financial Services | 2.56% | 2.82% |
#10
2
Prev: #8
|
1.0 |
—
|
-1,906 | -28.0% |
P
S
|
4,906 | $4,274,563 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
TFPM
Triple Flag Pre...
|
Basic Materials | 2.53% | 2.68% |
#11
1
Prev: #10
|
1.5 |
—
|
-6,755 | -5.1% |
P
S
|
124,666 | $4,232,726 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
EQIX
EQUINIX INC
|
Real Estate | 2.41% | 1.75% |
#12
7
Prev: #19
|
2.0 |
—
|
no change | no change |
P
S
|
3,723 | $4,031,376 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
GOLF
Acushnet Holdin...
|
Consumer Cyclical | 2.24% | 2.11% |
#13
2
Prev: #15
|
3.9 |
—
|
353,738 | 823.9% |
P
S
|
396,670 | $3,748,047 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
XOM
Exxon Mobil Cor...
|
Energy | 1.96% | 1.58% |
#14
9
Prev: #23
|
1.3 |
—
|
-691 | -3.2% |
P
S
|
20,627 | $3,286,382 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
TMO
Thermo Fisher S...
|
Healthcare | 1.85% | 2.32% |
#15
2
Prev: #13
|
1.2 |
—
|
-138 | -2.1% |
P
S
|
6,370 | $3,095,661 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
AIG
American Intern...
|
Financial Services | 1.83% | 2.21% |
#16
2
Prev: #14
|
1.2 |
—
|
-1,269 | -3.0% |
P
S
|
40,671 | $3,055,462 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
JNJ
Johnson & Johns...
|
Healthcare | 1.82% | 1.70% |
#17
4
Prev: #21
|
1.2 |
—
|
-500 | -3.7% |
P
S
|
12,873 | $3,038,272 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
ABT
Abbott Labs
|
Healthcare | 1.71% | 2.37% |
#18
6
Prev: #12
|
1.2 |
—
|
-1,215 | -4.0% |
P
S
|
29,488 | $2,853,942 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
AMRZ
Amrize Ltd
|
Basic Materials | 1.63% | 1.71% |
#19
1
Prev: #20
|
1.2 |
—
|
-2,313 | -4.5% |
P
S
|
49,177 | $2,720,991 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
PEP
Pepsico Incorpo...
|
Consumer Defensive | 1.61% | 1.57% |
#20
4
Prev: #24
|
1.1 |
—
|
-631 | -3.5% |
P
S
|
17,192 | $2,692,840 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
AMT
Amern Tower Cor...
|
Real Estate | 1.57% | 1.62% |
#21
1
Prev: #22
|
1.6 |
—
|
no change | no change |
P
S
|
15,032 | $2,624,815 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
LLY
Eli Lilly & Co.
|
Healthcare | 1.49% | 1.77% |
#22
4
Prev: #18
|
1.6 |
—
|
no change | no change |
P
S
|
2,674 | $2,499,031 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
WFC
Wells Fargo & C...
|
Financial Services | 1.49% | 1.87% |
#23
6
Prev: #17
|
1.1 |
—
|
-1,461 | -4.5% |
P
S
|
31,122 | $2,493,526 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
AYI
Acuity Brands I...
|
Industrials | 1.48% | 2.04% |
#24
8
Prev: #16
|
1.1 |
—
|
-447 | -4.9% |
P
S
|
8,766 | $2,482,899 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
DORM
Dorman Prods In...
|
Consumer Cyclical | 1.26% | — |
#25
Prev: #—
|
4.0 |
—
|
19,618 | — |
NEW
|
19,618 | $2,100,798 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
DVN
Devon Energy Co...
|
Energy | 1.12% | 0.79% |
#26
5
Prev: #31
|
2.4 |
—
|
2,203 | 6.3% |
P
S
|
37,142 | $1,873,146 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
SCHW
SCHWAB CHARLES ...
|
Financial Services | 1.01% | 1.17% |
#27
1
Prev: #26
|
0.9 |
—
|
-806 | -4.2% |
P
S
|
18,232 | $1,694,571 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
DG
Dollar General ...
|
Consumer Defensive | 0.98% | 1.20% |
#28
3
Prev: #25
|
0.9 |
—
|
-735 | -5.0% |
P
S
|
13,932 | $1,637,530 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
COP
Conocophillips
|
Energy | 0.96% | 0.73% |
#29
4
Prev: #33
|
0.9 |
—
|
-125 | -1.0% |
P
S
|
12,533 | $1,600,117 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
KO
Coca Cola Co.
|
Consumer Defensive | 0.95% | 0.95% |
#30
2
Prev: #28
|
0.9 |
—
|
-1,554 | -7.0% |
P
S
|
20,649 | $1,592,893 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
AMZN
Amazon Com Inc
|
Consumer Cyclical | 0.95% | 1.00% |
#31
4
Prev: #27
|
1.4 |
—
|
no change | no change |
P
S
|
7,055 | $1,582,925 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
VPL
Vanguard Pacifi...
|
ETF | 0.84% | 0.03% |
#32
56
Prev: #88
|
3.3 |
—
|
13,796 | 2973.3% |
P
S
|
14,260 | $1,398,065 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
VGK
Vanguard Ftse E...
|
ETF | 0.81% | 0.83% |
#33
3
Prev: #30
|
0.8 |
—
|
270 | 1.7% |
P
S
|
16,504 | $1,362,690 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
ABBV
Abbvie Inc
|
Healthcare | 0.79% | 0.88% |
#34
5
Prev: #29
|
1.3 |
—
|
no change | no change |
P
S
|
6,229 | $1,316,435 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
VXUS
Vanguard Total
|
ETF | 0.78% | 0.70% |
#35
1
Prev: #34
|
2.3 |
—
|
1,827 | 12.1% |
P
S
|
16,908 | $1,306,929 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
AMGN
Amgen Inc.
|
Healthcare | 0.71% | 0.67% |
#36
1
Prev: #35
|
0.8 |
—
|
100 | 3.0% |
P
S
|
3,433 | $1,189,236 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
CVX
Chevrontexaco C...
|
Energy | 0.69% | 0.56% |
#37
Prev: #37
|
1.3 |
—
|
no change | no change |
P
S
|
5,994 | $1,160,697 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
SCHO
Schwab Short Te...
|
ETF | 0.68% | 0.78% |
#38
6
Prev: #32
|
0.8 |
—
|
-4,934 | -9.5% |
P
S
|
46,846 | $1,136,946 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
WMB
Williams Cos In...
|
Energy | 0.61% | 0.56% |
#39
1
Prev: #38
|
0.7 |
—
|
-1,078 | -7.1% |
P
S
|
14,018 | $1,022,559 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
PG
Procter & Gambl...
|
Consumer Defensive | 0.59% | 0.08% |
#40
25
Prev: #65
|
1.2 |
—
|
no change | no change |
P
S
|
6,700 | $984,726 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
GOOGL
Alphabet Inc
|
Communication Services | 0.56% | 0.64% |
#41
5
Prev: #36
|
0.7 |
—
|
-77 | -2.3% |
P
S
|
3,270 | $940,321 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
SSB
South St Corp
|
Financial Services | 0.47% | 0.52% |
#42
3
Prev: #39
|
0.7 |
—
|
-689 | -7.6% |
P
S
|
8,326 | $784,731 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
ITW
Illinois Tool W...
|
Industrials | 0.47% | 0.46% |
#43
3
Prev: #40
|
1.2 |
—
|
no change | no change |
P
S
|
3,015 | $780,214 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
FFIN
First Financial...
|
Financial Services | 0.46% | 0.46% |
#44
3
Prev: #41
|
0.7 |
—
|
-133 | -0.5% |
P
S
|
24,673 | $761,537 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
WTM
WHITE MOUNTAINS...
|
Financial Services | 0.43% | 0.42% |
#45
3
Prev: #42
|
1.2 |
—
|
no change | no change |
P
S
|
325 | $725,396 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
CSCO
Cisco Systems I...
|
Technology | 0.37% | 0.32% |
#46
2
Prev: #44
|
1.1 |
—
|
no change | no change |
P
S
|
6,725 | $614,545 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
PSX
Phillips 66
|
Energy | 0.32% | 0.24% |
#47
1
Prev: #48
|
1.1 |
—
|
no change | no change |
P
S
|
3,011 | $539,875 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
RTX
Raytheon Techno...
|
Industrials | 0.29% | 0.31% |
#48
3
Prev: #45
|
1.1 |
—
|
no change | no change |
P
S
|
2,713 | $479,226 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
LMT
Lockheed Martin...
|
Industrials | 0.27% | 0.25% |
#49
3
Prev: #46
|
1.1 |
—
|
no change | no change |
P
S
|
840 | $454,884 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 | |||
|
ADP
Automatic Data ...
|
Technology | 0.25% | 0.32% |
#50
7
Prev: #43
|
0.6 |
—
|
-15 | -0.7% |
P
S
|
2,030 | $425,963 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-11 |
Showing 1-50 of 202 holdings