Carnegie Lake Advisors LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 29, 2026), Carnegie Lake Advisors LLC reported 165 stock positions worth $249.8 million. Its top holding was Apple (AAPL) at 4.9% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 4.6%) and Microsoft (MSFT, 4.4%). Compared with Q4 2025, it opened 8 new positions, sold out of 8, added to 23 and reduced 66. The biggest buy was a new position in Amrize (AMRZ) and the biggest sale an exit from Kinder Morgan (KMI).

Most Recent 13F
Q2 2026
Location
PRINCETON, NJ
CIK
0002043591
Portfolio Value
$249.8M (Q1 2026)
SEC Filing
0002043591-26-000002 ↗ filed Apr 29, 2026

Holdings Value

0$100.0M$200.0M$300.0M Q3 2024: $252.7M Q3 2024 Q4 2024: $247.8M Q4 2024 Q1 2025: $246.4M Q1 2025 Q2 2025: $252.6M Q2 2025 Q3 2025: $259.9M Q3 2025 Q4 2025: $262.6M Q4 2025 Q1 2026: $249.8M $249.8M Q1 2026 Q2 2026: $268.2M Q2 2026

Holdings 165 stocks · $249.8M
AAPL Apple Inc. 4.90% 48,226 $12.2M Reduce -2.3%
BRK.B Berkshire Hathaway Inc. Class B 4.65% 24,220 $11.6M Reduce -0.5%
MSFT Microsoft Corp. 4.38% 29,559 $10.9M Add +3.6%
SYK Stryker Corp. 3.57% 27,169 $8.9M No change
AMGN Amgen Inc. 3.29% 23,345 $8.2M No change
GOOG Alphabet Inc. Class C 3.14% 27,302 $7.8M Reduce -2.1%
PH Parker Hannifin Corp. 2.98% 8,316 $7.4M Reduce -0.7%
WCC Wesco International Inc. 2.66% 24,280 $6.6M Reduce -22.2%
UNH Unitedhealth Group Inc. 2.65% 24,446 $6.6M Reduce -0.1%
JPM JPMorgan Chase & Co. 2.49% 21,164 $6.2M Add +2.4%
COST Costco Wholesale Corp. 2.39% 5,992 $6.0M No change
HD Home Depot Inc. 1.89% 14,341 $4.7M Add +0.0%
CNX CNX Resources Corp. 1.83% 118,375 $4.6M Reduce -4.4%
CSCO Cisco Systems Inc. 1.70% 54,873 $4.3M No change
ISRG Intuitive Surgical Inc. 1.67% 9,075 $4.2M No change
WMT Walmart Inc. 1.50% 30,081 $3.7M No change
CVX Chevron Corp. 1.44% 17,414 $3.6M Reduce -5.7%
GOOGL Alphabet Inc. Class A 1.44% 12,485 $3.6M No change
JNJ Johnson & Johnson 1.38% 14,089 $3.4M Reduce -3.0%
INGR Ingredion Inc. 1.32% 29,275 $3.3M No change
BN Brookfield Corp. 1.22% 75,209 $3.0M No change
TEVA Teva Pharmaceutical-SP ADR 1.21% 100,400 $3.0M No change
AMZN Amazon.com Inc. 1.19% 14,324 $3.0M Reduce -1.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.09% 28,258 $2.7M Reduce -6.3%
COLD Americold Realty Trust Inc. 1.08% 235,361 $2.7M Add +63.9%
WMB Williams Cos Inc. 0.98% 33,750 $2.5M No change
NOBL Proshares S&P 500 Dividend A 0.97% 22,954 $2.4M Reduce -12.7%
KO The Coca-Cola Co. 0.95% 31,080 $2.4M No change
FERG Ferguson Enterprises Inc. 0.92% 9,865 $2.3M Reduce -3.3%
AVGO Broadcom Inc. 0.92% 7,390 $2.3M Reduce -0.7%
PFS Provident Financial Services 0.91% 106,958 $2.3M No change
WSC Willscot Holdings Corp. 0.87% 125,030 $2.2M Reduce -1.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.86% 44,167 $2.2M Reduce -2.2%
NKE Nike Inc. Class B 0.80% 37,975 $2.0M Reduce -1.4%
MCD McDonald's Corp. 0.77% 6,224 $1.9M Reduce -0.4%
PEP Pepsico Inc. 0.73% 11,674 $1.8M No change
PG The Procter & Gamble Co. 0.66% 11,349 $1.6M No change
AZO AutoZone Inc. 0.62% 461 $1.6M No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.61% 12,888 $1.5M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.61% 6,292 $1.5M Add +59.3%
ENB Enbridge Inc. 0.60% 27,792 $1.5M Reduce -0.4%
OCSL Oaktree Specialty Lending Co. 0.59% 131,340 $1.5M Reduce -0.1%
PFE Pfizer Inc. 0.58% 51,518 $1.4M Reduce -3.3%
GE General Electric filed as GE AEROSPACE 0.57% 5,039 $1.4M No change
BMY Bristol-Myers Squibb Co. 0.56% 23,077 $1.4M Reduce -0.9%
BCC Boise Cascade Co. 0.49% 16,130 $1.2M Reduce -2.2%
BA The Boeing Co. 0.49% 6,106 $1.2M Reduce -1.6%
ARMK Aramark 0.46% 28,550 $1.2M No change
BX Blackstone Inc. 0.46% 9,900 $1.1M Add +15.7%
INTC Intel Corp. 0.45% 25,693 $1.1M Reduce -1.7%
BLDR Builders Firstsource Inc. 0.45% 13,544 $1.1M No change
STWD Starwood Property Trust Inc. 0.45% 64,693 $1.1M Reduce -11.3%
WPC WP Carey Inc. 0.44% 16,286 $1.1M Reduce -0.6%
GEV GE Vernova Inc. 0.44% 1,258 $1.1M No change
MRK Merck & Co. Inc. 0.44% 9,120 $1.1M Add +0.6%
CB Chubb Ltd. 0.43% 3,325 $1.1M No change
NVDA Nvidia Corp. 0.42% 6,053 $1.1M Add +3.4%
GDX Vaneck Gold Miners ETF 0.42% 11,500 $1.1M Reduce -10.8%
UTG Reaves Utility Income Fund 0.42% 26,447 $1.0M Reduce -8.1%
WFC Wells Fargo & Co. 0.41% 12,941 $1.0M No change
RSG Republic Services Inc. 0.40% 4,600 $1.0M No change
PBH Prestige Consumer Healthcare 0.40% 16,794 $995K Reduce -5.5%
UPS United Parcel Service Class B 0.40% 10,080 $992K Reduce -4.3%
INVH Invitation Homes Inc. 0.40% 39,773 $988K Add +15.5%
ADP Automatic Data Processing 0.39% 4,854 $986K Reduce -0.8%
SEE Sealed Air Corp. 0.39% 23,196 $975K No change
MDT Medtronic PLC 0.39% 11,206 $971K Reduce -0.4%
AMRZ Amrize Ltd. 0.39% 17,175 $962K New
C Citigroup Inc. 0.38% 8,438 $957K Add +0.6%
RXST Rxsight Inc. 0.38% 154,745 $953K Reduce -4.4%
UBER Uber Technologies Inc. 0.38% 13,225 $951K New
XOM Exxon Mobil Corp. 0.37% 5,433 $922K Reduce -2.8%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.36% 10,000 $901K No change
OEC Orion SA 0.35% 135,471 $881K Reduce -1.4%
ZTS Zoetis Inc. 0.35% 7,424 $878K No change
META Meta Platforms Inc. Class A 0.34% 1,500 $858K Reduce -1.0%
VTI VG Morningstar TS MKT ETF-US 0.34% 2,644 $848K Add +0.1%
JEPI JPMorgan Equity Premium Inco 0.34% 14,787 $838K Reduce -1.6%
ARCC Ares Capital Corp. 0.33% 45,434 $819K Reduce -31.3%
LMT Lockheed Martin Corp. 0.33% 1,350 $816K No change
AVTR Avantor Inc. 0.33% 103,600 $812K Add +62.9%
SKYY First Trust Cloud Computing 0.32% 7,287 $797K Reduce -5.7%
PSLV Sprott Physical Silver Trust 0.31% 31,825 $776K Reduce -49.3%
NVO Novo-Nordisk A/S-Spons ADR 0.31% 20,900 $768K Reduce -1.3%
EOG EOG Resources Inc. 0.30% 5,138 $743K Reduce -3.0%
CGGR Cap Group Growth Equity 0.30% 18,369 $738K Add +2.5%
VUSB Vanguard Ultra Short Bond Et 0.29% 14,699 $732K Add +5.0%
GPK Graphic Packaging Holding Co. 0.29% 73,150 $727K Add +0.1%
MHK Mohawk Industries Inc. 0.29% 7,350 $724K No change
MTG Mgic Investment Corp. 0.28% 26,829 $704K Reduce -0.9%
TD Toronto-Dominion Bank 0.27% 7,299 $681K No change
LBRDK Liberty Broadband-C 0.26% 12,921 $650K No change
T AT&T Inc. 0.26% 22,350 $648K No change
BAM Brookfield Asset Mgmt-A 0.25% 14,301 $636K No change
MAA Mid-America Apartment Comm 0.25% 5,100 $623K New
FNV Franco-Nevada Corp. 0.25% 2,500 $618K No change
APA Apa Corp. 0.24% 14,000 $594K Reduce -37.5%
GGN Gamco GLBL Gold NTRL Res Inc. 0.24% 111,481 $593K No change
NOW ServiceNow Inc. 0.24% 5,670 $593K Add +17.6%
VZ Verizon Communications Inc. 0.23% 11,393 $572K Reduce -3.0%
VYM Vanguard High DVD Yield ETF 0.23% 3,838 $568K No change
LILAK Liberty Latin Americ Class C 0.22% 61,927 $546K No change
SYY Sysco Corp. 0.21% 7,450 $531K No change
FSK FS KKR Capital Corp. 0.21% 51,168 $521K Reduce -2.9%
STT State Street Corp. 0.19% 3,830 $485K Reduce -5.4%
XLF SS Financial Select Sector 0.19% 9,623 $475K Reduce -24.3%
KIO KKR Income Opportunities 0.19% 43,124 $474K Reduce -1.1%
VUG Vanguard Mrngstar GR ETF-Sui 0.18% 1,053 $460K Reduce -21.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.18% 691 $450K Add +0.1%
UMH Umh Properties Inc. filed as UMH PPTYS INC 0.18% 31,046 $448K Reduce -3.1%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.18% 8,040 $446K Add +1.2%
WPM Wheaton Precious Metals Corp. 0.18% 3,376 $442K Reduce -5.6%
BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED 0.17% 5,800 $422K No change
PTLC Pacer Trendpilot US Large Ca 0.17% 7,873 $413K No change
AEM Agnico Eagle Mines Ltd. 0.16% 2,014 $409K Add +11.0%
CALF PCR US SM CP CSH CWS ETF-Usd 0.16% 8,872 $398K No change
CDP Copt Defense Properties 0.16% 13,000 $398K New
VBR Vngrd Mrngst SL-CP Val ETF-U 0.15% 1,775 $386K Reduce -2.7%
MKL Markel Group Inc. 0.15% 200 $383K No change
ROK Rockwell Automation Inc. 0.15% 1,048 $376K No change
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.15% 8,802 $374K Add +5.4%
UNP Union Pacific Corp. 0.15% 1,519 $369K Add +49.1%
PHYS Sprott Physical Gold Trust 0.14% 10,200 $361K No change
UHAL U-Haul Holding Co. 0.14% 7,545 $361K No change
VMI Valmont Industries 0.14% 900 $360K No change
ZBH Zimmer Biomet Holdings Inc. 0.14% 3,972 $359K No change
CC The Chemours Co. 0.14% 16,096 $355K Reduce -48.4%
LLY Eli Lilly & Co. 0.14% 371 $341K No change
VTRS Viatris Inc. 0.14% 25,044 $338K Reduce -2.2%
GLPI Gaming and Leisure Propertie 0.13% 7,445 $330K Reduce -0.9%
CWH Camping World Holdings Inc. Class A 0.13% 47,978 $328K No change
SOFI Sofi Technologies Inc. 0.13% 20,550 $326K Reduce -5.1%
WM Waste Management Inc. 0.13% 1,412 $324K No change
VLY Valley National Bancorp 0.13% 25,862 $318K No change
PAAS Pan American Silver Corp. 0.13% 5,759 $315K No change
NEM Newmont Corp. 0.12% 2,878 $312K Reduce -3.3%
EPD Enterprise Products Partners 0.12% 8,000 $303K No change
CMCSA Comcast Corp. Class A 0.12% 10,496 $301K No change
QQQ Invesco QQQ Trust Series 1 0.12% 515 $297K Add +8.4%
IVV iShares Core S&P 500 ETF 0.11% 436 $285K Reduce -1.4%
RITM Rithm Capital Corp. 0.11% 30,025 $285K Reduce -5.5%
DEA Easterly Government Properti 0.11% 13,187 $283K No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.11% 1,313 $271K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.11% 1,343 $263K Reduce -15.7%
GEHC GE Healthcare Technology 0.10% 3,559 $253K No change
SYF Synchrony Financial 0.10% 3,683 $251K No change
OKE Oneok Inc. 0.10% 2,744 $248K Reduce -22.4%
CDE Coeur Mining Inc. 0.10% 12,765 $240K New
WH Wyndham Hotels & Resorts Inc. 0.10% 2,926 $238K No change
OXY Occidental Petroleum Corp. 0.09% 3,525 $229K New
COP Conocophillips 0.09% 1,731 $228K New
BAX Baxter International Inc. 0.09% 13,550 $228K No change
FISV Fiserv Inc. 0.09% 4,050 $226K No change
BDX Becton Dickinson and Co. 0.09% 1,425 $224K No change
VXUS Vanguard Total Intl Stock 0.08% 2,705 $209K No change
PEG Public Service Enterprise GP 0.08% 2,536 $205K Reduce -1.9%
HPE Hewlett Packard Enterprise 0.08% 8,400 $200K No change
STEW SRH Total Return Fund Inc. 0.07% 10,745 $184K No change
AWP Abrdn Global Premier Propert 0.06% 12,724 $141K No change
PCT Purecycle Technologies Inc. 0.05% 22,050 $114K Add +101.4%
FSCO FS Credit Opportunities Corp. 0.04% 21,663 $110K No change
VSTS Vestis Corp. 0.04% 12,475 $98K No change
CLF Cleveland-Cliffs Inc. 0.04% 10,825 $91K Reduce -9.8%
GCV Gabelli Convert & Inc. Sec 0.03% 19,000 $81K Reduce -2.6%
OPEN Opendoor Technologies Inc. 0.03% 14,080 $66K New

Options reported separately and not counted above: QYLD calls ($39K).

Other holdings (1): bonds, preferreds, convertibles and warrants · $2.0M (not counted above)
SecurityClassShares / PrincipalValueChange
EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) PFD CV TR SEC 28 58,310$2.0MNew

Total filed on the 13F, all lines: $251.7M.

Portfolio Sells Q4 2025 → Q1 2026
KMI Kinder Morgan Inc. Sold out 0.00% −0.63
UNH Unitedhealth Group Inc. Reduce -0.1% 2.65% −0.43
RXST Rxsight Inc. Reduce -4.4% 0.38% −0.26
PSLV Sprott Physical Silver Trust Reduce -49.3% 0.31% −0.25
WCC Wesco International Inc. Reduce -22.2% 2.66% −0.25
WBD Warner Bros Discovery Inc. Sold out 0.00% −0.25
DIS The Walt Disney Co. Reduce -6.3% 1.09% −0.22
AAPL Apple Inc. Reduce -2.3% 4.90% −0.21
GOOG Alphabet Inc. Class C Reduce -2.1% 3.14% −0.20
ARCC Ares Capital Corp. Reduce -31.3% 0.33% −0.18
TNL Travel + Leisure Co. Sold out 0.00% −0.15
NKE Nike Inc. Class B Reduce -1.4% 0.80% −0.13
NVO Novo-Nordisk A/S-Spons ADR Reduce -1.3% 0.31% −0.10
TSLA Tesla Inc. Sold out 0.00% −0.09
AMZN Amazon.com Inc. Reduce -1.9% 1.19% −0.09
FSK FS KKR Capital Corp. Reduce -2.9% 0.21% −0.09
SOFI Sofi Technologies Inc. Reduce -5.1% 0.13% −0.09
ADP Automatic Data Processing Reduce -0.8% 0.39% −0.08
BAC Bank of America Corp. Reduce -2.2% 0.86% −0.08
NGD New Gold Inc. Sold out 0.00% −0.08
CG The Carlyle Group Inc. Sold out 0.00% −0.08
JPEF JPMorgan Equity Focus ETF Sold out 0.00% −0.08
XLF SS Financial Select Sector Reduce -24.3% 0.19% −0.07
NOBL Proshares S&P 500 Dividend A Reduce -12.7% 0.97% −0.07
VUG Vanguard Mrngstar GR ETF-Sui Reduce -21.8% 0.18% −0.07
AVGO Broadcom Inc. Reduce -0.7% 0.92% −0.07
SKYY First Trust Cloud Computing Reduce -5.7% 0.32% −0.06
STWD Starwood Property Trust Inc. Reduce -11.3% 0.45% −0.05
PGX Invesco Preferred ETF Sold out 0.00% −0.05
WSC Willscot Holdings Corp. Reduce -1.9% 0.87% −0.04
OCSL Oaktree Specialty Lending Co. Reduce -0.1% 0.59% −0.04
META Meta Platforms Inc. Class A Reduce -1.0% 0.34% −0.04
BA The Boeing Co. Reduce -1.6% 0.49% −0.03
CLF Cleveland-Cliffs Inc. Reduce -9.8% 0.04% −0.02
MDT Medtronic PLC Reduce -0.4% 0.39% −0.02
MTG Mgic Investment Corp. Reduce -0.9% 0.28% −0.02
PBH Prestige Consumer Healthcare Reduce -5.5% 0.40% −0.02
RITM Rithm Capital Corp. Reduce -5.5% 0.11% −0.02
UMH Umh Properties Inc. Reduce -3.1% 0.18% −0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.5% 4.65% −0.01
VTV Vanguard Mrngstr Val ETF-Aui Reduce -15.7% 0.11% −0.01
STT State Street Corp. Reduce -5.4% 0.19% −0.00
KIO KKR Income Opportunities Reduce -1.1% 0.19% −0.00
IVV iShares Core S&P 500 ETF Reduce -1.4% 0.11% −0.00
UPS United Parcel Service Class B Reduce -4.3% 0.40% −0.00
OKE Oneok Inc. Reduce -22.4% 0.10% +0.00
GDX Vaneck Gold Miners ETF Reduce -10.8% 0.42% +0.00
GCV Gabelli Convert & Inc. Sec Reduce -2.6% 0.03% +0.00
CC The Chemours Co. Reduce -48.4% 0.14% +0.00
PEG Public Service Enterprise GP Reduce -1.9% 0.08% +0.00

Portfolio Buys Q4 2025 → Q1 2026
AMRZ Amrize Ltd. New 0.39% +0.39
UBER Uber Technologies Inc. New 0.38% +0.38
COLD Americold Realty Trust Inc. Add +63.9% 1.08% +0.38
MAA Mid-America Apartment Comm New 0.25% +0.25
IBM Intl Business Machines Corp. Add +59.3% 0.61% +0.17
CDP Copt Defense Properties New 0.16% +0.16
CDE Coeur Mining Inc. New 0.10% +0.10
OXY Occidental Petroleum Corp. New 0.09% +0.09
COP Conocophillips New 0.09% +0.09
MRK Merck & Co. Inc. Add +0.6% 0.44% +0.08
UNP Union Pacific Corp. Add +49.1% 0.15% +0.06
AVTR Avantor Inc. Add +62.9% 0.33% +0.05
AEM Agnico Eagle Mines Ltd. Add +11.0% 0.16% +0.05
INVH Invitation Homes Inc. Add +15.5% 0.40% +0.03
VUSB Vanguard Ultra Short Bond Et Add +5.0% 0.29% +0.03
OPEN Opendoor Technologies Inc. New 0.03% +0.03
CGDV Cap Group Dividend Value Add +5.4% 0.15% +0.01
C Citigroup Inc. Add +0.6% 0.38% +0.01
PCT Purecycle Technologies Inc. Add +101.4% 0.05% +0.01
HD Home Depot Inc. Add +0.0% 1.89% +0.01
QQQ Invesco QQQ Trust Series 1 Add +8.4% 0.12% +0.01
NVDA Nvidia Corp. Add +3.4% 0.42% +0.01
JEPQ JPM Nasdaq Equity Premium Add +1.2% 0.18% +0.00
VTI VG Morningstar TS MKT ETF-US Add +0.1% 0.34% +0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +0.1% 0.18% +0.00
CGGR Cap Group Growth Equity Add +2.5% 0.30% −0.01
NOW ServiceNow Inc. Add +17.6% 0.24% −0.04
JPM JPMorgan Chase & Co. Add +2.4% 2.49% −0.04
BX Blackstone Inc. Add +15.7% 0.46% −0.05
GPK Graphic Packaging Holding Co. Add +0.1% 0.29% −0.13
MSFT Microsoft Corp. Add +3.6% 4.38% −0.87

Options Activity Q4 2025 → Q1 2026
QYLD Global X Nasd 100 Cov Call call New 225,000 $39K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q4 2025 → Q1 2026
EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) PFD CV TR SEC 28 New 58,310 $2.0M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 167$268.2MAAPL, BRK.B, MSFT, UNH, SYK
Q1 2026 165$249.8MAAPL, BRK.B, MSFT, SYK, AMGN
Q4 2025 165$262.6MMSFT, AAPL, BRK.B, SYK, GOOG
Q3 2025 166$259.9MMSFT, BRK.B, AAPL, SYK, UNH
Q2 2025 163$252.6MMSFT, BRK.B, SYK, AAPL, UNH
Q1 2025 162$246.4MBRK.B, UNH, MSFT, AAPL, SYK
Q4 2024 163$247.8MMSFT, BRK.B, UNH, AAPL, SYK
Q3 2024 157$252.7MUNH, MSFT, BRK.B, AAPL, SYK