Lumbard & Kellner, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Lumbard & Kellner, LLC reported 99 stock positions worth $288.6 million. Its top holding was Petroleo Brasileiro-Spon ADR (PBR) at 5.1% of the portfolio, followed by Alphabet Class C (GOOG, 4.9%) and SS SPDR BB 1-3M T-Bill ETF (BIL, 4.2%). Compared with Q4 2025, it opened 6 new positions, sold out of 7, added to 39 and reduced 8. The biggest buy was a new position in SS Financial Select Sector (XLF) and the biggest sale an exit from Advanced Micro Devices (AMD).

Most Recent 13F
Q2 2026
Location
HOLLIS, NH
CIK
0001602476
Portfolio Value
$288.6M (Q1 2026)
SEC Filing
0001602476-26-000002 ↗ filed May 15, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $205.5M Q1 2024 Q2 2024: $211.8M Q2 2024 Q3 2024: $227.0M Q3 2024 Q4 2024: $232.7M Q4 2024 Q1 2025: $226.8M Q1 2025 Q2 2025: $229.4M Q2 2025 Q3 2025: $271.9M Q3 2025 Q4 2025: $285.5M Q4 2025 Q1 2026: $288.6M $288.6M Q1 2026 Q2 2026: $329.9M Q2 2026

Holdings 99 stocks · $288.6M
PBR Petroleo Brasileiro-Spon ADR 5.09% 707,340 $14.7M Reduce 0.0%
GOOG Alphabet Inc. Class C 4.85% 48,805 $14.0M Add +1.1%
BIL SS SPDR BB 1-3M T-Bill ETF 4.20% 132,326 $12.1M Reduce -14.0%
HBM Hudbay Minerals Inc. 3.76% 519,392 $10.9M Reduce -0.0%
SPMD SS SPDR P S&P 400 Midcap ETF 3.54% 172,588 $10.2M Add +1.4%
GS Goldman Sachs Group Inc. 3.50% 11,923 $10.1M Add +0.1%
RSP Invesco S&P 500 Equal Weight 3.43% 51,581 $9.9M Add +1.6%
FRDM Freedom 100 Emeging MRKT ETF 2.91% 153,507 $8.4M Add +0.3%
KMI Kinder Morgan Inc. 2.85% 245,511 $8.2M Add +0.1%
CSCO Cisco Systems Inc. 2.85% 105,952 $8.2M Add +0.1%
ENS Enersys 2.66% 44,177 $7.7M Add +0.1%
VYMI Vanguard Int High DVD YLD Inc. 2.62% 80,254 $7.6M Add +1.5%
MET Metlife Inc. 2.62% 106,923 $7.6M Add +0.3%
MTRN Materion Corp. 2.59% 51,581 $7.5M Add +0.1%
KTOS Kratos Defense & Security 2.57% 105,348 $7.4M Add +0.8%
FSLR First Solar Inc. 2.48% 36,260 $7.2M Add +0.1%
AMZN Amazon.com Inc. 2.35% 32,627 $6.8M Add +15.7%
LMT Lockheed Martin Corp. 2.27% 10,815 $6.5M Add +0.2%
FLBR Franklin Ftse Brazil ETF 2.24% 270,598 $6.5M Add +4.6%
NOC Northrop Grumman Corp. 2.09% 8,860 $6.0M Add +0.5%
PRIM Primoris Services Corp. 2.06% 41,500 $5.9M Add +0.4%
JBL Jabil Inc. 1.78% 19,339 $5.1M Add +0.6%
XLF SS Financial Select Sector 1.69% 98,684 $4.9M New
ETON Eton Pharmaceuticals Inc. 1.50% 175,911 $4.3M Add +0.6%
MSFT Microsoft Corp. 1.34% 10,451 $3.9M No change
FLKR Franklin Ftse South Korea 1.34% 96,714 $3.9M Add +0.2%
BRK.A Berkshire Hathaway Inc. Class A 1.24% 5 $3.6M No change
KRE SS SPDR S&P Regional Bank 1.24% 54,714 $3.6M Add +359.9%
ASIX Advansix Inc. 1.23% 145,694 $3.6M Add +0.4%
VTI VG Morningstar TS MKT ETF-US 1.23% 11,020 $3.5M No change
FLIN Franklin Ftse India ETF 1.17% 101,634 $3.4M Add +0.7%
QABA First Trust Nasdaq Aba Cbif 1.16% 57,613 $3.4M Add +0.7%
EIDO iShares MSCI Indonesia ETF 1.13% 205,975 $3.3M Add +2.6%
VEU Vanguard Ftse All-World Ex-U 1.10% 42,302 $3.2M Add +1.5%
HROW Harrow Inc. 1.08% 88,559 $3.1M Add +0.3%
AAPL Apple Inc. 1.00% 11,409 $2.9M No change
AMSC American Superconductor Corp. 0.86% 73,669 $2.5M Add +3.5%
LLY Eli Lilly & Co. 0.80% 2,520 $2.3M No change
BRK.B Berkshire Hathaway Inc. Class B 0.71% 4,295 $2.1M Add +3.5%
CLIP Global X 1-3 Month T-Bill 0.70% 20,138 $2.0M Reduce -12.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.66% 2,932 $1.9M No change
ALKS Alkermes PLC 0.64% 52,593 $1.9M New
AMAT Applied Materials Inc. 0.63% 5,350 $1.8M No change
DNLI Denali Therapeutics Inc. 0.63% 94,782 $1.8M New
BE Bloom Energy Corp. Class A 0.58% 12,379 $1.7M Reduce -30.0%
STNG Scorpio Tankers Inc. 0.49% 19,020 $1.4M No change
XOM Exxon Mobil Corp. 0.46% 7,826 $1.3M No change
GLD SPDR Gold Shares 0.44% 2,953 $1.3M Add +2.2%
JPM JPMorgan Chase & Co. 0.43% 4,234 $1.2M No change
JOE The St Joe Co. 0.40% 18,187 $1.1M Add +0.5%
SPTM SS SPDR P S&P 1500 Comp ETF 0.39% 14,330 $1.1M No change
WELL Welltower Inc. 0.38% 5,496 $1.1M No change
QQQ Invesco QQQ Trust Series 1 0.37% 1,865 $1.1M No change
GDX Vaneck Gold Miners ETF 0.34% 10,684 $980K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.33% 4,893 $960K No change
UTI Universal Technical Institut 0.32% 25,381 $916K Add +4.8%
EWW iShares MSCI Mexico ETF 0.31% 11,740 $883K Add +2.7%
PHYS Sprott Physical Gold Trust 0.29% 23,860 $846K Add +0.1%
VT Vanguard Tot World STK ETF 0.28% 5,914 $818K No change
SPDW Ste STR SPDR PT DW Eu ETF 0.28% 17,381 $793K No change
BBCA JPMorgan Betabuilders Canada 0.27% 8,409 $791K Add +1.0%
HON Honeywell International Inc. 0.26% 3,368 $761K No change
RTX RTX Corp. 0.25% 3,734 $720K No change
XLK SS Technology Select Sector 0.24% 5,140 $683K No change
XLE SS Energy Select Sector 0.24% 11,110 $681K Add +2.3%
IVV iShares Core S&P 500 ETF 0.23% 1,020 $666K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.21% 13,108 $602K Add +0.6%
UNH Unitedhealth Group Inc. 0.20% 2,108 $570K No change
GE General Electric filed as GE AEROSPACE 0.20% 1,983 $563K No change
MRK Merck & Co. Inc. 0.19% 4,671 $562K No change
ORCL Oracle Corp. 0.19% 3,775 $555K Reduce -1.4%
CIEN Ciena Corp. 0.17% 1,245 $483K No change
FE Firstenergy Corp. 0.17% 9,485 $481K No change
INTC Intel Corp. 0.16% 10,615 $468K No change
GEV GE Vernova Inc. 0.16% 517 $451K No change
SCHO Schwab Short-Term US Treas 0.16% 18,530 $450K Reduce -47.0%
GPRE Green Plains Inc. 0.15% 26,412 $434K Reduce -94.2%
PEP Pepsico Inc. 0.14% 2,640 $410K No change
ADBE Adobe Inc. 0.14% 1,645 $400K Add +1.1%
NI Nisource Inc. 0.13% 8,000 $373K No change
JNJ Johnson & Johnson 0.12% 1,440 $352K No change
TSM Taiwan Semiconductor-SP ADR 0.11% 941 $318K No change
PM Philip Morris International 0.11% 1,900 $314K No change
CMCSA Comcast Corp. Class A 0.11% 10,913 $313K No change
NEE Nextera Energy Inc. 0.10% 3,052 $283K No change
HD Home Depot Inc. 0.10% 838 $276K No change
GILD Gilead Sciences Inc. 0.09% 1,960 $273K No change
META Meta Platforms Inc. Class A 0.09% 468 $268K No change
AXP American Express Co. 0.09% 870 $263K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.09% 600 $262K No change
APH Amphenol Corp. Class A 0.09% 2,000 $253K New
KEY Keycorp 0.08% 11,500 $231K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.08% 950 $230K No change
DOV Dover Corp. 0.08% 1,085 $226K No change
MDY State Street SPDR S&P Midcap 0.08% 360 $222K No change
WM Waste Management Inc. 0.08% 950 $218K No change
EPD Enterprise Products Partners 0.07% 5,500 $208K New
PYPD Polypid Ltd. 0.06% 38,200 $167K No change
SBC SBC Medical Group Holdings I 0.03% 17,273 $72K New

Portfolio Sells Q4 2025 → Q1 2026
AMD Advanced Micro Devices Sold out 0.00% −1.69
GPRE Green Plains Inc. Reduce -94.2% 0.15% −1.42
SNOW Snowflake Inc. Sold out 0.00% −1.33
PATH Uipath Inc. Class A Sold out 0.00% −1.29
PRU Prudential Financial Inc. Sold out 0.00% −1.01
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -14.0% 4.20% −0.72
SGOV iShares 0-3 Month Treasury B Sold out 0.00% −0.30
SCHO Schwab Short-Term US Treas Reduce -47.0% 0.16% −0.14
CLIP Global X 1-3 Month T-Bill Reduce -12.7% 0.70% −0.11
SPTS SS SPDR P St Term TSY ETF Sold out 0.00% −0.10
GM General Motors Co. Sold out 0.00% −0.08
ORCL Oracle Corp. Reduce -1.4% 0.19% −0.07
BE Bloom Energy Corp. Class A Reduce -30.0% 0.58% +0.04
HBM Hudbay Minerals Inc. Reduce -0.0% 3.76% +0.15
PBR Petroleo Brasileiro-Spon ADR Reduce 0.0% 5.09% +2.15

Portfolio Buys Q4 2025 → Q1 2026
XLF SS Financial Select Sector New 1.69% +1.69
KRE SS SPDR S&P Regional Bank Add +359.9% 1.24% +0.97
ALKS Alkermes PLC New 0.64% +0.64
DNLI Denali Therapeutics Inc. New 0.63% +0.63
FLBR Franklin Ftse Brazil ETF Add +4.6% 2.24% +0.51
KMI Kinder Morgan Inc. Add +0.1% 2.85% +0.49
ETON Eton Pharmaceuticals Inc. Add +0.6% 1.50% +0.47
LMT Lockheed Martin Corp. Add +0.2% 2.27% +0.44
ENS Enersys Add +0.1% 2.66% +0.39
ASIX Advansix Inc. Add +0.4% 1.23% +0.35
MTRN Materion Corp. Add +0.1% 2.59% +0.34
NOC Northrop Grumman Corp. Add +0.5% 2.09% +0.33
PRIM Primoris Services Corp. Add +0.4% 2.06% +0.26
FLKR Franklin Ftse South Korea Add +0.2% 1.34% +0.25
JBL Jabil Inc. Add +0.6% 1.78% +0.24
FRDM Freedom 100 Emeging MRKT ETF Add +0.3% 2.91% +0.16
AMSC American Superconductor Corp. Add +3.5% 0.86% +0.15
VYMI Vanguard Int High DVD YLD Inc. Add +1.5% 2.62% +0.13
UTI Universal Technical Institut Add +4.8% 0.32% +0.10
SPMD SS SPDR P S&P 400 Midcap ETF Add +1.4% 3.54% +0.09
APH Amphenol Corp. Class A New 0.09% +0.09
AMZN Amazon.com Inc. Add +15.7% 2.35% +0.07
EPD Enterprise Products Partners New 0.07% +0.07
XLE SS Energy Select Sector Add +2.3% 0.24% +0.07
GLD SPDR Gold Shares Add +2.2% 0.44% +0.04
EWW iShares MSCI Mexico ETF Add +2.7% 0.31% +0.03
VEU Vanguard Ftse All-World Ex-U Add +1.5% 1.10% +0.03
QABA First Trust Nasdaq Aba Cbif Add +0.7% 1.16% +0.03
RSP Invesco S&P 500 Equal Weight Add +1.6% 3.43% +0.03
SBC SBC Medical Group Holdings I New 0.03% +0.03
JOE The St Joe Co. Add +0.5% 0.40% +0.02
PHYS Sprott Physical Gold Trust Add +0.1% 0.29% +0.02
XLU St Sr Utl SL SE SPDR ETF-Usd Add +0.6% 0.21% +0.01
BBCA JPMorgan Betabuilders Canada Add +1.0% 0.27% +0.00
CSCO Cisco Systems Inc. Add +0.1% 2.85% −0.01
BRK.B Berkshire Hathaway Inc. Class B Add +3.5% 0.71% −0.02
ADBE Adobe Inc. Add +1.1% 0.14% −0.06
GS Goldman Sachs Group Inc. Add +0.1% 3.50% −0.17
EIDO iShares MSCI Indonesia ETF Add +2.6% 1.13% −0.19
FLIN Franklin Ftse India ETF Add +0.7% 1.17% −0.19
KTOS Kratos Defense & Security Add +0.8% 2.57% −0.20
MET Metlife Inc. Add +0.3% 2.62% −0.33
HROW Harrow Inc. Add +0.3% 1.08% −0.43
GOOG Alphabet Inc. Class C Add +1.1% 4.85% −0.45
FSLR First Solar Inc. Add +0.1% 2.48% −0.84

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 108$329.9MGOOG, MTRN, HBM, GS, SPMD
Q1 2026 99$288.6MPBR, GOOG, BIL, HBM, SPMD
Q4 2025 100$285.5MGOOG, BIL, GS, HBM, SPMD
Q3 2025 97$271.9MBIL, GOOG, SPMD, GS, KTOS
Q2 2025 88$229.4MBIL, SPMD, VYMI, GS, MET
Q1 2025 82$226.8MORCL, SPMD, MET, VYMI, RSP
Q4 2024 79$232.7MALTM, ORCL, MET, GOOG, VYMI
Q3 2024 79$227.0MORCL, MET, VYMI, KMI, LMT
Q2 2024 74$211.8MORCL, GOOG, VYMI, GS, MET
Q1 2024 70$205.5MMET, VYMI, GS, PRU, RSP