L&
Lumbard & Kellner, LLC 13F Holdings Tracker (Q2 2026)
Lumbard & Kellner, LLCCIK: 0001602476
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$329.9M
Reporting period: 2026-06-30 · Number of holdings: 108
Lumbard & Kellner, LLC disclosed 108 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $329.9M and a quarterly turnover rate of 29.3%.
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Personality snowflake
- Concentration
- 9.29
- Portfolio Stability
- 29.33
- Momentum
- 100
- Sector conviction
- 48.08
- Diversification
- 100
- Sizing Uniformity
- 87.66
Lumbard & Kellner, LLC's disclosed holdings carry a Herfindahl concentration index of 0.023 — mathematically equivalent to about 43 equally-sized positions, well below its 108 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.23), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 46% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MTRN
-0.0% $7.9M
Sold out JBL
Trim PBR
+0.4% -$3.2M
Add SBC
+9899.5% $5.2M
Trim BIL
-18.1% -$2.2M
New buy EMN
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 5.56% | +0.71% | +6.36% | |
| 2 | MTRN | Materion CORP | Stock-Other | 4.65% | +2.06% | -0.00% | |
| 3 | HBM | Hudbay Minerals Inc | Stock-Other | 3.72% | -0.04% | +0.09% | |
| 4 | GS | Goldman Sachs Group Inc | Stock-Financials | 3.69% | +0.19% | +1.06% | |
| 5 | SPMD | Ss Spdr P S&p 400 Midcap ETF | ETF-Other | 3.57% | +0.03% | +0.92% | |
| 6 | PBR | Petroleo Brasileiro-spon Adr | Stock-Energy | 3.48% | -1.61% | +0.39% | |
| 7 | FRDM | Freedom 100 Emeging Mrkt ETF | ETF-Other | 3.40% | +0.49% | +0.08% | |
| 8 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 3.34% | -0.09% | +0.44% | |
| 9 | ENS | Enersys | Stock-Industrials | 3.12% | +0.46% | -0.35% | |
| 10 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 3.01% | -1.19% | -18.11% | |
| 11 | MET | Metlife Inc | Stock-Financials | 2.76% | +0.14% | +0.49% | |
| 12 | FSLR | First Solar Inc | Stock-Tech | 2.61% | +0.13% | +0.68% | |
| 13 | VYMI | Vanguard Int High Dvd Yld In | ETF-Other | 2.41% | -0.21% | +1.05% | |
| 14 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.41% | +0.06% | +2.20% | |
| 15 | KMI | Kinder Morgan, Inc. | Stock-Energy | 2.39% | -0.46% | +0.62% | |
| 16 | CSCO | Cisco Systems Inc | Stock-Tech | 2.01% | -0.84% | -46.85% | |
| 17 | FLKR | Franklin Ftse South Korea | ETF-Other | 1.94% | +0.60% | +0.03% | |
| 18 | ETON | Eton Pharmaceuticals Inc | Stock-Other | 1.93% | +0.43% | -0.00% | |
| 19 | FLBR | Franklin Ftse Brazil ETF | ETF-Other | 1.76% | -0.48% | +0.04% | |
| 20 | LMT | Lockheed Martin CORP | Stock-Industrials | 1.70% | -0.57% | +1.59% | |
| 21 | KTOS | Kratos Defense & Security | Stock-Industrials | 1.62% | -0.95% | +1.57% | |
| 22 | SBC | Sbc Medical Group Holdings I | Stock-Other | 1.61% | +1.59% | +9899.47% | |
| 23 | XLF | Ss Financial Select Sector | ETF-Other | 1.61% | -0.08% | +0.30% | |
| 24 | PRIM | Primoris Services CORP | Stock-Industrials | 1.41% | -0.65% | +13.00% | |
| 25 | NOC | Northrop Grumman CORP | Stock-Industrials | 1.37% | -0.72% | +0.23% | |
| 26 | KRE | Ss Spdr S&p Regional Bank | ETF-Other | 1.25% | +0.01% | +0.55% | |
| 27 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 1.24% | +0.01% | +0.71% | |
| 28 | MSFT | Microsoft CORP | Stock-Tech | 1.23% | -0.11% | +3.79% | |
| 29 | QABA | First Trust Nasdaq Aba Cbif | ETF-Tech | 1.18% | +0.02% | +0.34% | |
| 30 | AMAT | Applied Materials Inc | Stock-Tech | 1.17% | +0.54% | — | |
| 31 | HROW | Harrow Inc | Stock-Other | 1.16% | +0.08% | +1.99% | |
| 32 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 1.14% | -0.10% | — | |
| 33 | EMN | Eastman Chemical Co | Stock-Materials | 1.10% | +1.10% | NEW | |
| 34 | FLIN | Franklin Ftse India ETF | ETF-Other | 1.10% | -0.07% | +0.20% | |
| 35 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 1.09% | -0.01% | +1.39% | |
| 36 | AAPL | Apple Inc | Stock-Tech | 1.03% | +0.03% | +2.86% | |
| 37 | RNW | ReNew Energy Global Plc | Stock-Other | 0.98% | +0.98% | NEW | |
| 38 | BE | Bloom Energy Corp- A | Stock-Industrials | 0.97% | +0.39% | -14.48% | |
| 39 | AMSC | American Superconductor CORP | Stock-Other | 0.93% | +0.07% | +0.64% | |
| 40 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.93% | +0.13% | +0.99% | |
| 41 | ASIX | Advansix Inc | Stock-Other | 0.88% | -0.35% | +0.36% | |
| 42 | ALKS | Alkermes plc | Stock-Healthcare | 0.84% | +0.20% | -0.00% | |
| 43 | DNLI | Denali Therapeutics Inc | Stock-Other | 0.77% | +0.14% | +3.69% | |
| 44 | EIDO | Ishares Msci Indonesia ETF | ETF-Other | 0.71% | -0.42% | +0.68% | |
| 45 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.67% | -0.04% | +2.89% | |
| 46 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.66% | — | — | |
| 47 | CLIP | Global X 1-3 Month T-bill | ETF-Other | 0.55% | -0.15% | -10.33% | |
| 48 | INTC | Intel CORP | Stock-Tech | 0.45% | +0.29% | — | |
| 49 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.44% | +0.01% | +3.61% | |
| 50 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.42% | +0.05% | — |
1–50 of 108
Portfolio Performance
Performance for Q3 2026
-1.3%
Performance Last 4 Quarters
+41.3%
- Stdev
- +15.2%
- Beta
- +0.92
- Alpha
- +6.8%
- Max Drawdown
- -11.5%
- Annualized Perf
- +27.1%
- Batting Avg vs S&P
- +55.6%
- Sortino
- +4.15
- Stutzer
- +0.5
- Treynor
- +0.27
- Sterling
- +1.71
- Calmar
- +2.36
- Information Ratio
- +0.56
- Tracking Error
- +9.5%
- Stdev Down
- +6.1%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +76.7%
- Worst 12 Months
- +1.8%
- Efficiency Ratio
- +0.72
- Sharpe
- +1.66
- Stdev Sectors
- +7.9%
- Skewness
- +0.13
- Kurtosis
- -1.11
- Upside Potential
- +6.05
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 108 | $329.9M | 29 | ||
| 2026 Q1 | 99 | $288.6M | 25 | ||
| 2025 Q4 | 100 | $285.5M | 16 | ||
| 2025 Q3 | 97 | $271.9M | 58 | ||
| 2025 Q2 | 88 | $229.4M | 0 | ||
| 2025 Q1 | 82 | $226.8M | 100 | ||
| 2024 Q4 | 79 | $232.7M | 0 | ||
| 2024 Q3 | 79 | $227.0M | 0 | ||
| 2024 Q2 | 74 | $211.8M | 0 | ||
| 2024 Q1 | 70 | $205.5M | 0 | ||
| 2023 Q4 | 61 | $172.8M | 0 | ||
| 2023 Q3 | 57 | $150.7M | 0 | ||
| 2023 Q2 | 73 | $179.3M | 0 | ||
| 2023 Q1 | 89 | $198.8M | 0 | ||
| 2022 Q4 | 88 | $204.2M | 0 | ||
| 2022 Q3 | 84 | $194.1M | 0 | ||
| 2022 Q2 | 80 | $195.9M | 0 | ||
| 2022 Q1 | 91 | $256.1M | 0 | ||
| 2021 Q4 | 98 | $265.2M | 0 | ||
| 2021 Q3 | 100 | $254.9M | 0 | ||
| 2021 Q2 | 100 | $258.3M | 25 | ||
| 2021 Q1 | 103 | $284.3M | 23 | ||
| 2020 Q4 | 98 | $254.0M | 34 | ||
| 2020 Q3 | 72 | $202.5M | 29 | ||
| 2020 Q2 | 70 | $174.0M | 37 | ||
| 2020 Q1 | 72 | $149.1M | 51 | ||
| 2019 Q4 | 79 | $193.6M | 13 | ||
| 2019 Q3 | 80 | $182.5M | 23 | ||
| 2019 Q2 | 79 | $185.9M | 19 | ||
| 2019 Q1 | 79 | $179.5M | 22 | ||
| 2018 Q4 | 80 | $165.0M | 17 | ||
| 2018 Q3 | 82 | $191.5M | 15 | ||
| 2018 Q2 | 79 | $170.9M | 18 | ||
| 2018 Q1 | 80 | $174.6M | 28 | ||
| 2017 Q4 | 86 | $194.7M | 16 | ||
| 2017 Q3 | 86 | $183.5M | 12 | ||
| 2017 Q2 | 87 | $174.8M | 16 | ||
| 2017 Q1 | 90 | $169.1M | 16 | ||
| 2016 Q4 | 77 | $153.7M | 22 | ||
| 2016 Q3 | 81 | $145.6M | 16 | ||
| 2016 Q2 | 83 | $136.0M | 21 | ||
| 2016 Q1 | 82 | $136.4M | 37 | ||
| 2015 Q4 | 84 | $135.8M | 28 | ||
| 2015 Q3 | 75 | $125.9M | 36 | ||
| 2015 Q2 | 82 | $140.0M | 25 | ||
| 2015 Q1 | 88 | $139.0M | 30 | ||
| 2014 Q4 | 93 | $141.4M | 34 | ||
| 2014 Q3 | 98 | $141.4M | 23 | ||
| 2014 Q2 | 97 | $140.2M | 43 | ||
| 2014 Q1 | 68 | $116.7M | 0 | ||
| 2013 Q4 | 68 | $116.7M | 0 |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Holding changes this quarter
Lumbard & Kellner, LLC's most significant position changes for 2026-06-30: Sold out: Jabil Inc (JBL); New buy: Eastman Chemical Co (EMN); New buy: ReNew Energy Global Plc (RNW); Sold out: Exxon Mobil CORP (XOM); New buy: .
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MTRN | Materion CORP | +2.1% | -0.00% | Trim |
| 2 | SBC | Sbc Medical Group Holdings I | +1.6% | +9899.47% | Add |
| 3 | EMN | Eastman Chemical Co | +1.1% | NEW | New buy |
| 4 | RNW | ReNew Energy Global Plc | +1% | NEW | New buy |
| 5 | GOOG | Alphabet Inc-cl C | +0.7% | +6.36% | Add |
| 6 | FLKR | Franklin Ftse South Korea | +0.6% | +0.03% | Add |
| 7 | AMAT | Applied Materials Inc | +0.5% | — | Unchanged |
| 8 | FRDM | Freedom 100 Emeging Mrkt ETF | +0.5% | +0.08% | Add |
| 9 | ENS | Enersys | +0.5% | -0.35% | Trim |
| 10 | ETON | Eton Pharmaceuticals Inc | +0.4% | -0.00% | Trim |
| 11 | BE | Bloom Energy Corp- A | +0.4% | -14.48% | Trim |
| 12 | ✓ | +0.3% | NEW | New buy | |
| 13 | XBI | Ss Spdr S&p Biotech ETF | +0.3% | NEW | New buy |
| 14 | INTC | Intel CORP | +0.3% | — | Unchanged |
| 15 | ALKS | Alkermes plc | +0.2% | -0.00% | Trim |
| 16 | GS | Goldman Sachs Group Inc | +0.2% | +1.06% | Add |
| 17 | AMD | Advanced Micro Devices | +0.2% | NEW | New buy |
| 18 | MET | Metlife Inc | +0.1% | +0.49% | Add |
| 19 | DNLI | Denali Therapeutics Inc | +0.1% | +3.69% | Add |
| 20 | FSLR | First Solar Inc | +0.1% | +0.68% | Add |
| 21 | LLY | Eli Lilly & Co | +0.1% | +0.99% | Add |
| 22 | XLE | Ss Energy Select Sector | +0.1% | +101.30% | Add |
| 23 | ✓ | +0.1% | NEW | New buy | |
| 24 | ✓ | +0.1% | NEW | New buy | |
| 25 | NVDA | Nvidia CORP | +0.1% | NEW | New buy |
| 26 | HROW | Harrow Inc | +0.1% | +1.99% | Add |
| 27 | AVGO | Broadcom Inc | +0.1% | NEW | New buy |
| 28 | AMSC | American Superconductor CORP | +0.1% | +0.64% | Add |
| 29 | V | Visa Inc-class A Shares | +0.1% | NEW | New buy |
| 30 | FCX | Freeport-mcmoran Inc | +0.1% | NEW | New buy |
| 31 | AMZN | Amazon.com Inc | +0.1% | +2.20% | Add |
| 32 | XLK | Ss Technology Select Sector | +0.1% | — | Unchanged |
| 33 | FTNT | Fortinet Inc | +0.1% | NEW | New buy |
| 34 | GM | General Motors Co | +0.1% | NEW | New buy |
| 35 | STX | Seagate Technology Holdings plc | +0.1% | NEW | New buy |
| 36 | QQQ | Invesco Qqq Trust Series 1 | +0.1% | — | Unchanged |
| 37 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | +14.24% | Add |
| 38 | UNH | Unitedhealth Group Inc | 0% | -8.54% | Trim |
| 39 | GEV | GE Vernova Inc | 0% | +10.44% | Add |
| 40 | SPMD | Ss Spdr P S&p 400 Midcap ETF | 0% | +0.92% | Add |
| 41 | AAPL | Apple Inc | 0% | +2.86% | Add |
| 42 | QABA | First Trust Nasdaq Aba Cbif | 0% | +0.34% | Add |
| 43 | GE | General Electric | 0% | -1.26% | Trim |
| 44 | EPD | Enterprise Products Partners | 0% | +40.91% | Add |
| 45 | VTI | Vanguard Total Stock Mkt ETF | 0% | +0.71% | Add |
| 46 | KRE | Ss Spdr S&p Regional Bank | 0% | +0.55% | Add |
| 47 | JPM | Jpmorgan Chase & Co | 0% | +3.61% | Add |
| 48 | HD | Home Depot Inc | 0% | +18.02% | Add |
| 49 | META | Meta Platforms Inc-class A | 0% | +25.21% | Add |
| 50 | GILD | Gilead Sciences Inc | 0% | +34.49% | Add |
1–50 of 113
Filing History
FAQ
What is Lumbard & Kellner, LLC and what type of investor is it?
Lumbard & Kellner, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $329.9M, spread across 108 disclosed positions.
What are Lumbard & Kellner, LLC's largest equity positions?
Based on the latest 13F filing, Lumbard & Kellner, LLC's top holdings by market value are:
1. Alphabet Inc-cl C (GOOG) — $18.3M (5.6%)
2. Materion CORP (MTRN) — $15.3M (4.7%)
3. Hudbay Minerals Inc (HBM) — $12.3M (3.7%)
4. Goldman Sachs Group Inc (GS) — $12.2M (3.7%)
5. Ss Spdr P S&p 400 Midcap ETF (SPMD) — $11.8M (3.6%)
What changes did Lumbard & Kellner, LLC make in its most recent portfolio filing?
In the latest reported quarter, Lumbard & Kellner, LLC made 87 notable position adjustments: 14 new positions were initiated, 53 existing holdings were added to, 15 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Jabil Inc (JBL); New buy: Eastman Chemical Co (EMN); New buy: ReNew Energy Global Plc (RNW); Sold out: Exxon Mobil CORP (XOM); New buy:
What sectors does Lumbard & Kellner, LLC focus on?
Lumbard & Kellner, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 23.6%
• Information Technology: 20.7%
• Financials: 15.3%
• Energy: 12.8%
• Communication Services: 12.4%
• Consumer Discretionary: 5.5%
Investment Profile
Lumbard & Kellner, LLC returned an annualized 27.1% over the trailing 36 months — outperforming the S&P 500 by 6.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.92 (roughly in line with the market) and a 56% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 29 over the past 4 quarters — a shift toward more active trading.
It has added to its MTRN position over the past two quarters (+$8.9M, now $15.3M), while trimming BIL over the same stretch (-$4.1M, still holding $9.9M).
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