Lumbard & Kellner, LLC

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Institutional

CIK 0001602476

$288.6M

Reported AUM

Positions

Q1 2026

Period

2026-05-15

Filed

The Brief · Lumbard & Kellner, LLC · Q1 2026

AI · grounded in 13F

Lumbard & Kellner, LLC closed its position in ADVANCED MICRO DEVICES INC COM, reducing exposure by $4.8M. The fund established a new position in XLF valued at $4.87M and added ALKERMES PLC SHS with a $1.86M investment. Other notable exits included closing positions in SNOW for $3.79M and PATH for $3.68M.

Portfolio · Q1 2026

Top holdings

#	Stock	Issuer	Price	Day %	1Y Gr.	5Y Gr.	Value	% of book	Δ shares (QoQ)	Status
1	PBR	PETROLEO BRASILEIRO S A SPONSORED ADR	$18.95	1.94%	51.52%	420.72%	$14.7M	5.09%	—	HELD
2	GOOG	ALPHABET INC CAP STK CL C	$334.32	-0.43%	77.27%	132.86%	$14.0M	4.85%	—	HELD
3	BIL	STATE STREET SPDR BLOOMBERG 1-3 MONTH T-BILL ETF	$91.65	0.02%	3.74%	18.97%	$12.1M	4.20%	—	HELD
4	HBM	HUDBAY MINERALS INC COM	$22.86	4.00%	150.48%	274.47%	$10.9M	3.76%	—	HELD
5	SPMD	STATE STREET SPDR PORTFOLIO S&P 400 MID CAP ETF	$65.67	0.32%	21.90%	46.10%	$10.2M	3.54%	—	HELD
6	GS	GOLDMAN SACHS GROUP INC COM	$1019.03	3.90%	41.00%	166.43%	$10.1M	3.50%	—	HELD
7	RSP	INVESCO S&P 500 EQUAL WEIGHT ETF	$214.17	-0.72%	19.83%	48.78%	$9.9M	3.43%	—	HELD
8	FRDM	FREEDOM 100 EMERGING MARKETS ETF	$64.15	4.73%	55.68%	101.51%	$8.4M	2.91%	—	HELD
9	KMI	KINDER MORGAN INC DEL COM	$31.41	-1.40%	16.81%	154.18%	$8.2M	2.85%	—	HELD
10	CSCO	CISCO SYS INC COM	$113.30	0.73%	71.43%	119.60%	$8.2M	2.85%	—	HELD
11	ENS	ENERSYS COM	$186.10	5.47%	99.19%	118.20%	$7.7M	2.66%	—	HELD
12	VYMI	VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD ETF	$103.90	1.89%	32.61%	87.50%	$7.6M	2.62%	—	HELD
13	MET	METLIFE INC COM	$96.76	-0.27%	34.94%	80.67%	$7.6M	2.62%	—	HELD
14	MTRN	MATERION CORP COM	$207.92	9.81%	80.93%	165.45%	$7.5M	2.59%	—	HELD
15	KTOS	KRATOS DEFENSE & SEC SOLUTIONS COM NEW	$45.10	2.77%	-21.90%	79.17%	$7.4M	2.57%	—	HELD
16	FSLR	FIRST SOLAR INC COM	$203.11	1.94%	8.30%	111.96%	$7.2M	2.48%	—	HELD
17	AMZN	AMAZON COM INC COM	$238.51	5.23%	5.54%	30.60%	$6.8M	2.35%	—	HELD
18	LMT	LOCKHEED MARTIN CORP COM	$560.82	-1.47%	38.85%	79.73%	$6.5M	2.27%	—	HELD
19	FLBR	FRANKLIN FTSE BRAZIL ETF	$22.55	2.04%	41.11%	50.48%	$6.5M	2.24%	—	HELD
20	NOC	NORTHROP GRUMMAN CORP COM	$526.65	-1.57%	-8.60%	54.94%	$6.0M	2.09%	—	HELD
21	PRIM	PRIMORIS SVCS CORP COM	$82.89	10.87%	-17.75%	200.99%	$5.9M	2.06%	—	HELD
22	JBL	JABIL INC COM	$304.69	6.11%	31.55%	371.68%	$5.1M	1.78%	—	HELD
23	XLF	STATE STREET FINANCIAL SELECT SECTOR SPDR ETF	$56.71	0.04%	12.30%	61.42%	$4.9M	1.69%	—	HELD
24	ETON	ETON PHARMACEUTICALS INC COM	$48.12	-0.02%	240.55%	813.09%	$4.3M	1.50%	—	HELD
25	MSFT	MICROSOFT CORP COM	$454.63	16.41%	-24.89%	34.54%	$3.9M	1.34%	—	HELD
26	FLKR	FRANKLIN FTSE SOUTH KOREA ETF	$51.97	9.76%	126.48%	99.56%	$3.9M	1.34%	—	HELD
27	BRK/A	BERKSHIRE HATHAWAY INC DEL CL A	—	—	—	—	$3.6M	1.24%	—	HELD
28	KRE	STATE STREET SPDR S&P REGIONAL BANKING ETF	$76.27	0.12%	32.66%	32.58%	$3.6M	1.24%	—	HELD
29	ASIX	ADVANSIX INC COM	$20.29	0.84%	8.63%	-38.72%	$3.6M	1.23%	—	HELD
30	VTI	VANGUARD TOTAL STOCK MARKET ETF	$364.64	1.17%	19.26%	65.80%	$3.5M	1.23%	—	HELD
31	FLIN	FRANKLIN FTSE INDIA ETF	$35.65	1.03%	—	—	$3.4M	1.17%	—	HELD
32	QABA	FIRST TRUST NASDAQ ABA COMMUNITY BANK INDEX FUND	$69.33	-0.08%	—	—	$3.4M	1.16%	—	HELD
33	EIDO	ISHARES MSCI INDONESIA ETF	$12.39	3.21%	—	—	$3.3M	1.13%	—	HELD
34	VEU	VANGUARD FTSE ALL-WORLD EX-US INDEX FUND	$82.81	2.70%	—	—	$3.2M	1.10%	—	HELD
35	HROW	HARROW INC COM	$38.69	0.03%	—	—	$3.1M	1.08%	—	HELD
36	AAPL	APPLE INC COM	$332.02	-1.82%	—	—	$2.9M	1.00%	—	HELD
37	AMSC	AMERICAN SUPERCONDUCTOR CORP SHS NEW	$29.14	9.40%	—	—	$2.5M	0.86%	—	HELD
38	LLY	ELI LILLY & CO COM	$1164.70	-3.75%	—	—	$2.3M	0.80%	—	HELD
39	BRK/B	BERKSHIRE HATHAWAY INC DEL CL B NEW	—	—	—	—	$2.1M	0.71%	—	HELD
40	CLIP	GLOBAL X 1-3 MONTH T-BILL ETF	$100.35	0.01%	—	—	$2.0M	0.70%	—	HELD
41	SPY	STATE STREET SPDR S&P 500 ETF	$738.76	1.27%	—	—	$1.9M	0.66%	—	HELD
42	ALKS	ALKERMES PLC SHS	$49.40	2.19%	—	—	$1.9M	0.64%	—	HELD
43	AMAT	APPLIED MATLS INC COM	$496.21	13.69%	—	—	$1.8M	0.63%	—	HELD
44	DNLI	DENALI THERAPEUTICS INC COM	$24.24	1.64%	—	—	$1.8M	0.63%	—	HELD
45	BE	BLOOM ENERGY CORP COM CL A	$206.42	26.06%	—	—	$1.7M	0.58%	—	HELD
46	STNG	SCORPIO TANKERS INC SHS	$76.86	-2.13%	—	—	$1.4M	0.49%	—	HELD
47	XOM	EXXON MOBIL CORP COM	$155.80	-0.61%	—	—	$1.3M	0.46%	—	HELD
48	GLD	SPDR GOLD SHARES	$377.40	1.70%	—	—	$1.3M	0.44%	—	HELD
49	JPM	JPMORGAN CHASE & CO COM	$350.57	1.70%	—	—	$1.2M	0.43%	—	HELD
50	JOE	ST JOE CO COM	$64.08	3.50%	—	—	$1.1M	0.40%	—	HELD
51	SPTM	STATE STREET SPDR PORTFOLIO S&P 1500 COMPOSITE STOCK MARKET ETF	$89.74	1.18%	—	—	$1.1M	0.39%	—	HELD
52	WELL	WELLTOWER INC COM	$234.85	-2.58%	—	—	$1.1M	0.38%	—	HELD
53	QQQ	INVESCO QQQ TRUST SERIES I	$680.91	2.90%	—	—	$1.1M	0.37%	—	HELD
54	GDX	VANECK GOLD MINERS ETF	$75.94	3.23%	—	—	$980K	0.34%	—	HELD
55	VTV	VANGUARD VALUE ETF	$219.35	-0.20%	—	—	$960K	0.33%	—	HELD
56	UTI	UNIVERSAL TECHNICAL INST INC COM	$39.49	-3.78%	—	—	$916K	0.32%	—	HELD
57	EWW	ISHARES MSCI MEXICO ETF	$76.90	1.76%	—	—	$883K	0.31%	—	HELD
58	PHYS	SPROTT ASSET MANAGEMENT LP PHYSICAL GOLD TR	$31.11	1.78%	—	—	$846K	0.29%	—	HELD
59	VT	VANGUARD TOTAL WORLD STOCK ETF	$154.90	1.76%	—	—	$818K	0.28%	—	HELD
60	SPDW	STATE STREET SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF	$50.26	2.72%	—	—	$793K	0.27%	—	HELD
61	BBCA	JPMORGAN BETABUILDERS CANADA ETF	$102.92	0.58%	—	—	$791K	0.27%	—	HELD
62	HON	HONEYWELL INTL INC COM	$239.58	-0.64%	—	—	$761K	0.26%	—	HELD
63	RTX	RTX CORPORATION COM	$211.48	-1.75%	—	—	$720K	0.25%	—	HELD
64	XLK	STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF	$174.70	4.88%	—	—	$683K	0.24%	—	HELD
65	XLE	STATE STREET ENERGY SELECT SECTOR SPDR ETF	$58.44	-0.36%	—	—	$681K	0.24%	—	HELD
66	IVV	ISHARES CORE S&P 500 ETF	$742.05	1.22%	—	—	$666K	0.23%	—	HELD
67	XLU	STATE STREET UTILITIES SELECT SECTOR SPDR ETF	$44.56	-0.77%	—	—	$602K	0.21%	—	HELD
68	UNH	UNITEDHEALTH GROUP INC COM	$424.18	0.86%	—	—	$570K	0.20%	—	HELD
69	GE	GE AEROSPACE COM NEW	$353.55	0.83%	—	—	$563K	0.20%	—	HELD
70	MRK	MERCK & CO INC COM	$129.18	-0.91%	—	—	$562K	0.19%	—	HELD
71	ORCL	ORACLE CORP COM	$125.49	6.58%	—	—	$555K	0.19%	—	HELD
72	CIEN	CIENA CORP COM NEW	$362.55	9.74%	—	—	$483K	0.17%	—	HELD
73	FE	FIRSTENERGY CORP COM	$49.09	-0.08%	—	—	$481K	0.17%	—	HELD
74	INTC	INTEL CORP COM	$92.47	12.93%	—	—	$468K	0.16%	—	HELD
75	GEV	GE VERNOVA INC COM	$964.85	7.17%	—	—	$451K	0.16%	—	HELD
76	SCHO	SCHWAB SHORT-TERM US TREASURY ETF	$24.10	0.06%	—	—	$450K	0.16%	—	HELD
77	GPRE	GREEN PLAINS INC COM	$17.14	4.70%	—	—	$434K	0.15%	—	HELD
78	PEP	PEPSICO INC COM	$139.86	-2.54%	—	—	$410K	0.14%	—	HELD
79	ADBE	ADOBE INC COM	$246.51	-6.42%	—	—	$400K	0.14%	—	HELD
80	NI	NISOURCE INC COM	$44.71	-0.23%	—	—	$373K	0.13%	—	HELD
81	JNJ	JOHNSON & JOHNSON COM	$256.34	-3.46%	—	—	$352K	0.12%	—	HELD
82	TSM	TAIWAN SEMICONDUCTOR MANUFACT SPONSORED ADS	$402.91	7.54%	—	—	$318K	0.11%	—	HELD
83	PM	PHILIP MORRIS INTL INC COM	$192.04	-3.23%	—	—	$314K	0.11%	—	HELD
84	CMCSA	COMCAST CORP NEW CL A	$23.52	-4.41%	—	—	$313K	0.11%	—	HELD
85	NEE	NEXTERA ENERGY INC COM	$87.43	-1.16%	—	—	$283K	0.10%	—	HELD
86	HD	HOME DEPOT INC COM	$332.72	-1.64%	—	—	$276K	0.10%	—	HELD
87	GILD	GILEAD SCIENCES INC COM	$129.94	-2.10%	—	—	$273K	0.09%	—	HELD
88	META	META PLATFORMS INC CL A	$531.79	-9.19%	—	—	$268K	0.09%	—	HELD
89	AXP	AMERICAN EXPRESS CO COM	$336.76	1.59%	—	—	$263K	0.09%	—	HELD
90	VUG	VANGUARD GROWTH ETF	$83.94	2.28%	—	—	$262K	0.09%	—	HELD
91	APH	AMPHENOL CORP CL A	$156.79	4.31%	—	—	$253K	0.09%	—	HELD
92	KEY	KEYCORP COM	$22.60	1.89%	—	—	$231K	0.08%	—	HELD
93	IBM	INTERNATIONAL BUSINESS MACHS COM	$222.12	-1.91%	—	—	$230K	0.08%	—	HELD
94	DOV	DOVER CORP COM	$201.61	1.83%	—	—	$226K	0.08%	—	HELD
95	MDY	STATE STREET SPDR S&P MIDCAP 400 ETF TRUST	$683.41	0.33%	—	—	$222K	0.08%	—	HELD
96	WM	WASTE MGMT INC DEL COM	$226.51	-4.26%	—	—	$218K	0.08%	—	HELD
97	EPD	ENTERPRISE PRODS PARTNERS L P COM	$38.22	-1.18%	—	—	$208K	0.07%	—	HELD
98	PYPD	POLYPID LTD COM	$4.33	6.13%	—	—	$167K	0.06%	—	HELD
99	SBC	SBC MED GROUP HLDGS INC COM	$3.05	-1.77%	—	—	$72K	0.03%	—	HELD

Source: SEC EDGAR · accession 0001602476-26-000002. 13F discloses long positions only — shorts, foreign equities, and options are excluded.