Lumbard & Kellner, LLC

CIK 0001602476 · Q1 2026

13F Equity AUM

$288.6M

+1.1% QoQ

Positions

-1 QoQ

AUM Rank

#6,008

Top 48%

Skill Alpha (FF)

+2.2%/yr^ns

No Clear Edge

Rank #1,103 · Top 13%

vs S&P -2.7%/yr (unadj.)

Quarters Tracked

~12 years

Portfolio Concentration

Top 5: 21.4%Top 10: 37.0%Top 20: 61.5%

PBR5.1%

GOOG4.8%

BIL4.2%

HBM3.8%

SPMD3.5%

GS3.5%

RSP3.4%

FRDM2.9%

KMI2.9%

CSCO2.9%

Others (89)63.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services42.0%

Industrials14.0%

Energy11.4%

Technology8.6%

Basic Materials7.7%

Healthcare5.3%

Communication Services5.0%

Consumer Cyclical2.5%

Other3.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 99Median: 0.40%Avg: 1.01%

0–0.5%

54(11.0%)

0.5–1%

9(6.2%)

1–3%

29(54.4%)

3–5%

6(23.3%)

5%+

1(5.1%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 98Unique: 1vs 20 funds

1.3%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.8%

BANK OF AMERICA CORP /DE/

1.9%

2.1%

2.9%

2.1%

VANGUARD CAPITAL MANAGEMENT LLC

1.9%

GEODE CAPITAL MANAGEMENT, LLC

1.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

2.1%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New6Increased39Decreased8Exited7

New Positions

XLF1.7%

+99K

ALKS0.6%

+53K

DNLI0.6%

+95K

APH0.1%

+2K

EPD0.1%

+6K

SBC0.0%

+17K

Increased

KRE1.2%

+43K(+360%)

FLBR2.2%

+12K(+5%)

EIDO1.1%

+5K(+3%)

AMZN2.4%

+4K(+16%)

AMSC0.9%

+3K(+4%)

SPMD3.5%

+2K(+1%)

VYMI2.6%

+1K(+1%)

UTI0.3%

+1K(+5%)

ETON1.5%

+967(+1%)

KTOS2.6%

+835(+1%)

Decreased

G3V0.1%

-432,518(-94%)

BIL4.2%

-21,544(-14%)

SCHO0.2%

-16,434(-47%)

BE0.6%

-5,300(-30%)

CLIP0.7%

-2,922(-13%)

ORCL0.2%

-53(-1%)

HBM3.8%

-44(-0%)

PBR5.1%

-25(0%)

Exited

-22,578

-17,288

-224,337

-25,674

-8,420

-9,900

-2,650

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...