Portfolio (Quarterly) Guide ↗

Lummis Asset Management, LP

· CIK 0002011652

13F Portfolio $167M AUM 221 positions Filed Aug 3, 2026 EDGAR ↗ ← All Funds

Q2 2026 Q1 2026 · All 42 New 28 Added 32 Reduced 13 Exited

Page 1 of 2 · 28 positions

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#	Ticker	Company	Sector	Shares	Value ↓	% Port	Chg Shares	Chg %	Period Price ①	Since Period ①
1	—	Berkshire Hathaway	—	15,823.0	$8.0M	4.77%	+133.0	+0.8%	$503.90	—
2	—	Triple Flag Precious M	—	131,121.0	$3.9M	2.34%	+6K	+5.2%	$29.87	—
3	—	Amrize Ltd	—	58,677.0	$3.0M	1.82%	+10K	+19.3%	$51.88	—
4	VGK	Vanguard Ftse Europe	—	16,739.0	$1.5M	0.89%	+235.0	+1.4%	$88.61	+3.8%
5	VXUS	Vanguard Total	—	17,095.0	$1.5M	0.87%	+187.0	+1.1%	$85.47	+2.4%
6	PG	Procter & Gamble Co.	Consumer Defensive	7,003.0	$1.0M	0.60%	+303.0	+4.5%	$144.19	-0.3%
7	RTX	Raytheon Technologies Co	Industrials	2,727.0	$582K	0.35%	+14.0	+0.5%	$213.42	-0.8%
8	META	Meta Platforms, Inc.	Communication Services	319.0	$174K	0.10%	+9.0	+2.9%	$544.28	+6.2%
9	UNH	Unitedhealth Group	Healthcare	256.0	$106K	0.06%	+7.0	+2.8%	$415.63	-5.5%
10	NVDA	Nvidia Corp	Technology	497.0	$99K	0.06%	+69.0	+16.1%	$200.09	+8.7%
11	V	Visa Inc	Financial Services	243.0	$83K	0.05%	+14.0	+6.1%	$343.09	+11.2%
12	MSI	Motorola Solutions	Technology	119.0	$49K	0.03%	+2.0	+1.7%	$415.29	+17.0%
13	TXN	Texas Instruments	Technology	128.0	$38K	0.02%	+1.0	+0.8%	$298.07	-13.2%
14	AVGO	Broadcom Inc	Technology	85.0	$32K	0.02%	+15.0	+21.4%	$377.75	-2.4%
15	WMT	Wal Mart Stores Inc.	Consumer Defensive	272.0	$31K	0.02%	+11.0	+4.2%	$113.26	-9.0%
16	—	Eaton Corp.	—	55.0	$23K	0.01%	+7.0	+14.6%	$426.13	—
17	MU	Micron Technology	Technology	19.0	$22K	0.01%	+1.0	+5.6%	$1154.32	-19.2%
18	MDT	Medtronic Inc	Healthcare	253.0	$20K	0.01%	+10.0	+4.1%	$78.23	+16.6%
19	PGR	Progressive Co Ohio	Financial Services	81.0	$18K	0.01%	+8.0	+11.0%	$218.44	+0.1%
20	VRTX	Vertex Pharmaceutica	Healthcare	32.0	$16K	0.01%	+3.0	+10.3%	$496.72	+9.1%

Page 1 of 2 · 28 positions

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① Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation

Technology 25.5%

Energy 22.4%

Financial Services 11.9%

Healthcare 11.7%

Consumer Cyclical 9.3%

Industrials 8.1%

Real Estate 4.9%

Consumer Defensive 4.8%

Communication Services 1.0%

Utilities 0.3%