Lumbard & Kellner, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 21, 2025), Lumbard & Kellner, LLC reported 82 stock positions worth $226.8 million. Its top holding was Oracle (ORCL) at 4.1% of the portfolio, followed by SS SPDR P S&P 400 Midcap ETF (SPMD, 4.0%) and Metlife (MET, 3.9%). Compared with Q4 2024, it opened 12 new positions, sold out of 9, added to 22 and reduced 26. The biggest buy was Amazon.com (AMZN, shares +2216%) and the biggest sale an exit from Arcadium Lithium (ALTM).
- Most Recent 13F
- Q2 2026
- Location
- HOLLIS, NH
- CIK
- 0001602476
- Portfolio Value
- $226.8M (Q1 2025)
- SEC Filing
- 0001602476-25-000003 ↗ filed Apr 21, 2025
Holdings Value
Holdings 82 stocks · $226.8M
| ORCL Oracle Corp. | 4.11% | 66,635 | $9.3M | Add +0.9% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 4.00% | 177,385 | $9.1M | Add +72.8% |
| MET Metlife Inc. | 3.87% | 109,394 | $8.8M | Reduce -0.5% |
| VYMI Vanguard Int High DVD YLD Inc. | 3.73% | 114,886 | $8.5M | Add +0.0% |
| RSP Invesco S&P 500 Equal Weight | 3.67% | 48,043 | $8.3M | Add +12.3% |
| PBR Petroleo Brasileiro-Spon ADR | 3.26% | 516,091 | $7.4M | Reduce -0.1% |
| GOOG Alphabet Inc. Class C | 3.24% | 46,967 | $7.3M | Add +1.2% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 3.11% | 76,893 | $7.1M | Add +26.3% |
| KMI Kinder Morgan Inc. | 3.05% | 242,303 | $6.9M | Reduce -0.2% |
| BE Bloom Energy Corp. Class A | 3.02% | 348,802 | $6.9M | Add +1.0% |
| GS Goldman Sachs Group Inc. | 3.00% | 12,475 | $6.8M | Reduce -0.1% |
| CSCO Cisco Systems Inc. | 2.83% | 104,024 | $6.4M | Add +0.0% |
| XBI SS SPDR S&P Biotech ETF | 2.75% | 76,895 | $6.2M | Add +0.8% |
| NOC Northrop Grumman Corp. | 2.72% | 12,042 | $6.2M | Reduce -0.2% |
| FSLR First Solar Inc. | 2.59% | 46,393 | $5.9M | Add +71.0% |
| AMZN Amazon.com Inc. | 2.40% | 28,597 | $5.4M | Add +2215.6% |
| FLKR Franklin Ftse South Korea | 2.24% | 277,038 | $5.1M | Reduce -2.3% |
| FLBR Franklin Ftse Brazil ETF | 1.92% | 263,387 | $4.4M | Add +0.8% |
| HBM Hudbay Minerals Inc. | 1.80% | 537,757 | $4.1M | Add +31.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.76% | 5 | $4.0M | No change |
| AMD Advanced Micro Devices | 1.73% | 38,093 | $3.9M | New |
| MSFT Microsoft Corp. | 1.67% | 10,095 | $3.8M | No change |
| GPRE Green Plains Inc. | 1.58% | 740,323 | $3.6M | Add +159.4% |
| CIEN Ciena Corp. | 1.57% | 58,904 | $3.6M | Reduce -8.3% |
| VEU Vanguard Ftse All-World Ex-U | 1.49% | 55,700 | $3.4M | Add +5.1% |
| DV Doubleverify Holdings Inc. | 1.46% | 247,150 | $3.3M | Add +56.9% |
| EIDO iShares MSCI Indonesia ETF | 1.45% | 202,111 | $3.3M | Add +0.2% |
| KTOS Kratos Defense & Security | 1.40% | 106,756 | $3.2M | Add +5.9% |
| VTI VG Morningstar TS MKT ETF-US | 1.38% | 11,396 | $3.1M | Reduce -11.9% |
| FIVN FIVE9 Inc. | 1.33% | 111,369 | $3.0M | New |
| QABA First Trust Nasdaq Aba Cbif | 1.33% | 57,700 | $3.0M | New |
| SNOW Snowflake Inc. | 1.33% | 20,568 | $3.0M | New |
| VAL Valaris Ltd. | 1.30% | 75,242 | $3.0M | Add +0.4% |
| PRU Prudential Financial Inc. | 1.29% | 26,128 | $2.9M | Reduce -0.1% |
| PFE Pfizer Inc. | 1.21% | 108,528 | $2.8M | Reduce -3.5% |
| FRDM Freedom 100 Emeging MRKT ETF | 1.21% | 78,262 | $2.7M | Add +0.0% |
| AAPL Apple Inc. | 1.18% | 12,051 | $2.7M | Reduce -3.0% |
| FE Firstenergy Corp. | 1.17% | 65,439 | $2.6M | Reduce -2.4% |
| LMT Lockheed Martin Corp. | 1.03% | 5,227 | $2.3M | Reduce -51.8% |
| WWW Wolverine World Wide Inc. | 1.02% | 166,772 | $2.3M | Reduce -4.0% |
| PRIM Primoris Services Corp. | 0.94% | 36,967 | $2.1M | New |
| LLY Eli Lilly & Co. | 0.92% | 2,520 | $2.1M | Reduce -18.5% |
| PLUS Eplus Inc. | 0.79% | 29,338 | $1.8M | Reduce -5.5% |
| CLIP Global X 1-3 Month T-Bill | 0.75% | 16,992 | $1.7M | Add +10.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.72% | 3,085 | $1.6M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.72% | 2,932 | $1.6M | No change |
| SDRL Seadrill Limited | 0.70% | 63,452 | $1.6M | Reduce -0.1% |
| SCHO Schwab Short-Term US Treas | 0.57% | 53,338 | $1.3M | New |
| SGOV iShares 0-3 Month Treasury B | 0.54% | 12,087 | $1.2M | New |
| XOM Exxon Mobil Corp. | 0.46% | 8,813 | $1.0M | No change |
| UNH Unitedhealth Group Inc. | 0.46% | 2,000 | $1.0M | No change |
| JPM JPMorgan Chase & Co. | 0.45% | 4,184 | $1.0M | Reduce -1.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.39% | 1,865 | $875K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.37% | 4,893 | $845K | Reduce -3.4% |
| WELL Welltower Inc. | 0.37% | 5,496 | $842K | No change |
| AMAT Applied Materials Inc. | 0.35% | 5,400 | $784K | No change |
| STNG Scorpio Tankers Inc. | 0.32% | 19,020 | $715K | Reduce -15.5% |
| HON Honeywell International Inc. | 0.31% | 3,368 | $713K | No change |
| VT Vanguard Tot World STK ETF | 0.30% | 5,918 | $686K | Reduce -6.0% |
| JOE The St Joe Co. | 0.30% | 14,557 | $683K | Add +4.7% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.26% | 16,057 | $585K | Reduce -6.3% |
| XLK SS Technology Select Sector | 0.24% | 2,599 | $537K | Reduce -2.7% |
| RTX RTX Corp. | 0.22% | 3,734 | $495K | No change |
| MRK Merck & Co. Inc. | 0.18% | 4,671 | $419K | No change |
| GE General Electric filed as GE AEROSPACE | 0.18% | 2,085 | $417K | No change |
| PEP Pepsico Inc. | 0.17% | 2,640 | $396K | No change |
| IVV iShares Core S&P 500 ETF | 0.17% | 678 | $381K | Reduce -3.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.16% | 972 | $360K | No change |
| CMCSA Comcast Corp. Class A | 0.16% | 9,596 | $354K | Reduce -0.7% |
| NI Nisource Inc. | 0.14% | 8,000 | $321K | No change |
| PM Philip Morris International | 0.13% | 1,900 | $302K | No change |
| SPTS SS SPDR P St Term TSY ETF | 0.13% | 9,900 | $289K | New |
| HD Home Depot Inc. | 0.11% | 654 | $240K | No change |
| JNJ Johnson & Johnson | 0.11% | 1,440 | $239K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.10% | 950 | $236K | No change |
| AXP American Express Co. | 0.10% | 870 | $234K | No change |
| WM Waste Management Inc. | 0.10% | 950 | $220K | New |
| GILD Gilead Sciences Inc. | 0.10% | 1,960 | $220K | New |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.09% | 2,988 | $203K | No change |
| EPD Enterprise Products Partners | 0.08% | 5,500 | $188K | New |
| KEY Keycorp | 0.08% | 11,500 | $184K | Reduce -16.4% |
| DXJ Wisdomtree Japan Hedged Eq | 0.06% | 1,234 | $136K | New |
Portfolio Sells Q4 2024 → Q1 2025
| ALTM Arcadium Lithium PLC | Sold out | 0.00% | −5.06 |
| SO The Southern Co. | Sold out | 0.00% | −2.23 |
| NFE New Fortress Energy Inc. | Sold out | 0.00% | −1.70 |
| LMT Lockheed Martin Corp. | Reduce -51.8% | 1.03% | −1.24 |
| PPL PPL Corp. | Sold out | 0.00% | −1.15 |
| OI O-I Glass Inc. | Sold out | 0.00% | −1.03 |
| CIEN Ciena Corp. | Reduce -8.3% | 1.57% | −0.77 |
| WWW Wolverine World Wide Inc. | Reduce -4.0% | 1.02% | −0.63 |
| SDRL Seadrill Limited | Reduce -0.1% | 0.70% | −0.36 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -11.9% | 1.38% | −0.23 |
| GM General Motors Co. | Sold out | 0.00% | −0.22 |
| PLUS Eplus Inc. | Reduce -5.5% | 0.79% | −0.20 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.18 |
| STNG Scorpio Tankers Inc. | Reduce -15.5% | 0.32% | −0.17 |
| AAPL Apple Inc. | Reduce -3.0% | 1.18% | −0.16 |
| LLY Eli Lilly & Co. | Reduce -18.5% | 0.92% | −0.11 |
| MDY State Street SPDR S&P Midcap | Sold out | 0.00% | −0.09 |
| DOV Dover Corp. | Sold out | 0.00% | −0.09 |
| PFE Pfizer Inc. | Reduce -3.5% | 1.21% | −0.07 |
| GS Goldman Sachs Group Inc. | Reduce -0.1% | 3.00% | −0.07 |
| PRU Prudential Financial Inc. | Reduce -0.1% | 1.29% | −0.05 |
| XLK SS Technology Select Sector | Reduce -2.7% | 0.24% | −0.03 |
| KEY Keycorp | Reduce -16.4% | 0.08% | −0.02 |
| VT Vanguard Tot World STK ETF | Reduce -6.0% | 0.30% | −0.02 |
| IVV iShares Core S&P 500 ETF | Reduce -3.1% | 0.17% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -0.7% | 0.16% | +0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -3.4% | 0.37% | +0.00 |
| MET Metlife Inc. | Reduce -0.5% | 3.87% | +0.00 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -6.3% | 0.26% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -1.8% | 0.45% | +0.01 |
| FE Firstenergy Corp. | Reduce -2.4% | 1.17% | +0.02 |
| FLKR Franklin Ftse South Korea | Reduce -2.3% | 2.24% | +0.12 |
| KMI Kinder Morgan Inc. | Reduce -0.2% | 3.05% | +0.19 |
| NOC Northrop Grumman Corp. | Reduce -0.2% | 2.72% | +0.29 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -0.1% | 3.26% | +0.41 |
Portfolio Buys Q4 2024 → Q1 2025
| AMZN Amazon.com Inc. | Add +2215.6% | 2.40% | +2.28 |
| AMD Advanced Micro Devices | New | 1.73% | +1.73 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +72.8% | 4.00% | +1.59 |
| FIVN FIVE9 Inc. | New | 1.33% | +1.33 |
| QABA First Trust Nasdaq Aba Cbif | New | 1.33% | +1.33 |
| SNOW Snowflake Inc. | New | 1.33% | +1.33 |
| PRIM Primoris Services Corp. | New | 0.94% | +0.94 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +26.3% | 3.11% | +0.72 |
| SCHO Schwab Short-Term US Treas | New | 0.57% | +0.57 |
| SGOV iShares 0-3 Month Treasury B | New | 0.54% | +0.54 |
| FSLR First Solar Inc. | Add +71.0% | 2.59% | +0.53 |
| RSP Invesco S&P 500 Equal Weight | Add +12.3% | 3.67% | +0.45 |
| GPRE Green Plains Inc. | Add +159.4% | 1.58% | +0.42 |
| VYMI Vanguard Int High DVD YLD Inc. | Add +0.0% | 3.73% | +0.38 |
| HBM Hudbay Minerals Inc. | Add +31.4% | 1.80% | +0.38 |
| FLBR Franklin Ftse Brazil ETF | Add +0.8% | 1.92% | +0.33 |
| KTOS Kratos Defense & Security | Add +5.9% | 1.40% | +0.26 |
| CSCO Cisco Systems Inc. | Add +0.0% | 2.83% | +0.18 |
| VEU Vanguard Ftse All-World Ex-U | Add +5.1% | 1.49% | +0.18 |
| DV Doubleverify Holdings Inc. | Add +56.9% | 1.46% | +0.16 |
| SPTS SS SPDR P St Term TSY ETF | New | 0.13% | +0.13 |
| FRDM Freedom 100 Emeging MRKT ETF | Add +0.0% | 1.21% | +0.11 |
| WM Waste Management Inc. | New | 0.10% | +0.10 |
| GILD Gilead Sciences Inc. | New | 0.10% | +0.10 |
| CLIP Global X 1-3 Month T-Bill | Add +10.1% | 0.75% | +0.09 |
| EPD Enterprise Products Partners | New | 0.08% | +0.08 |
| DXJ Wisdomtree Japan Hedged Eq | New | 0.06% | +0.06 |
| JOE The St Joe Co. | Add +4.7% | 0.30% | +0.03 |
| VAL Valaris Ltd. | Add +0.4% | 1.30% | −0.12 |
| EIDO iShares MSCI Indonesia ETF | Add +0.2% | 1.45% | −0.15 |
| XBI SS SPDR S&P Biotech ETF | Add +0.8% | 2.75% | −0.20 |
| BE Bloom Energy Corp. Class A | Add +1.0% | 3.02% | −0.27 |
| GOOG Alphabet Inc. Class C | Add +1.2% | 3.24% | −0.56 |
| ORCL Oracle Corp. | Add +0.9% | 4.11% | −0.62 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 108 | $329.9M | GOOG, MTRN, HBM, GS, SPMD |
| Q1 2026 | 99 | $288.6M | PBR, GOOG, BIL, HBM, SPMD |
| Q4 2025 | 100 | $285.5M | GOOG, BIL, GS, HBM, SPMD |
| Q3 2025 | 97 | $271.9M | BIL, GOOG, SPMD, GS, KTOS |
| Q2 2025 | 88 | $229.4M | BIL, SPMD, VYMI, GS, MET |
| Q1 2025 | 82 | $226.8M | ORCL, SPMD, MET, VYMI, RSP |
| Q4 2024 | 79 | $232.7M | ALTM, ORCL, MET, GOOG, VYMI |
| Q3 2024 | 79 | $227.0M | ORCL, MET, VYMI, KMI, LMT |
| Q2 2024 | 74 | $211.8M | ORCL, GOOG, VYMI, GS, MET |
| Q1 2024 | 70 | $205.5M | MET, VYMI, GS, PRU, RSP |