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Livermore
Livermore
ZHEN

Lumbard & Kellner, LLC

SEC CIK
0001602476
Latest filing
Aug 6, 2026

The latest 13F from Lumbard & Kellner, LLC covers Q2 2026 (filed Aug 6, 2026): 108 long positions worth $329.9M. The top 10 holdings make up 37.5% of the portfolio, and the largest is Alphabet Inc. (GOOG) at 5.6%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
14
Est. +$11.9M
Added
52
Est. +$9.74M
Reduced
15
Est. −$9.41M
Sold out
5
Est. −$8.11M

Top 5 holdings

Share of this quarter's portfolio value

  1. GOOGAlphabet Inc.
    5.6%$18.3MHistory
  2. MTRNMATERION Corp
    4.6%$15.3MHistory
  3. HBMHudbay Minerals Inc.
    3.7%$12.3MHistory
  4. GSGoldman Sachs Group Inc
    3.7%$12.2MHistory
  5. State Street SPDR Portfolio S&P 400 Mid Cap ETF78464A847
    3.6%$11.8M

Biggest buys

New and added positions, by estimated amount bought

  1. SBCSBC Medical Group Holdings Inc
    +$5.27MAddedHistory
  2. EMNEastman Chemical Co
    +$3.63MNewHistory
  3. RNWReNew Energy Global plc
    +$3.24MNewHistory
  4. GOOGAlphabet Inc.
    +$1.10MAddedHistory
  5. XOMExxonMobil Holdings Corp
    +$1.07MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. SBCSBC Medical Group Holdings Inc
    +1.59 pp<0.1% → 1.6%History
  2. EMNEastman Chemical Co
    +1.10 pp0.0% → 1.1%History
  3. RNWReNew Energy Global plc
    +0.98 pp0.0% → 1.0%History
  4. GOOGAlphabet Inc.
    +0.71 pp4.9% → 5.6%History
  5. Franklin Templeton ETF Tr35473P710
    +0.60 pp1.3% → 1.9%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CSCOCisco Systems, Inc.
    −$5.83MReducedHistory
  2. JBLJabil Inc
    −$5.14MSold outHistory
  3. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −$2.20MReduced
  4. XOMExxonMobil Holdings Corp
    −$1.33MSold outHistory
  5. HONHoneywell International Inc
    −$761.3KSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. JBLJabil Inc
    −1.78 pp1.8% → 0.0%History
  2. State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663
    −1.19 pp4.2% → 3.0%
  3. CSCOCisco Systems, Inc.
    −0.84 pp2.8% → 2.0%History
  4. XOMExxonMobil Holdings Corp
    −0.46 pp0.5% → 0.0%History
  5. HONHoneywell International Inc
    −0.26 pp0.3% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$329.9M
+$41.3M (+14.3%) vs. prior quarter
Positions
108
+9 vs. prior quarter
Top 10 concentration
37.5%
Top 10 as share of value
Turnover
5.7%
Q2 2026, one quarter
Average holding period
12.8 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $329.9M (Q2 2026)

Q1 2021: $284.3MQ2 2021: $258.3MQ3 2021: $254.9MQ4 2021: $265.2MQ1 2022: $256.1MQ2 2022: $195.9MQ3 2022: $192.2MQ4 2022: $204.2MQ1 2023: $198.8MQ2 2023: $179.3MQ3 2023: $150.7MQ4 2023: $172.8MQ1 2024: $205.5MQ2 2024: $211.8MQ3 2024: $227.0MQ4 2024: $232.7MQ1 2025: $226.8MQ2 2025: $229.4MQ3 2025: $271.9MQ4 2025: $285.5MQ1 2026: $288.6MQ2 2026: $329.9M
Q1 2021Q2 2026
13F filings of Lumbard & Kellner, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 2026108$329.9MGOOGMTRNHBMvs. Q1 2026SEC
Q1 2026May 15, 202699$288.6MPBRGOOGState Street SPDR Bloomberg 1-3 Month T-Bill ETFvs. Q4 2025SEC
Q4 2025Feb 3, 2026100$285.5MGOOGState Street SPDR Bloomberg 1-3 Month T-Bill ETFGSvs. Q3 2025SEC
Q3 2025Nov 12, 202597$271.9MState Street SPDR Bloomberg 1-3 Month T-Bill ETFGOOGState Street SPDR Portfolio S&P 400 Mid Cap ETFvs. Q2 2025SEC
Q2 2025Aug 13, 202588$229.4MState Street SPDR Bloomberg 1-3 Month T-Bill ETFState Street SPDR Portfolio S&P 400 Mid Cap ETFVanguard Whitehall FDSvs. Q1 2025SEC
Q1 2025Apr 21, 202582$226.8MORCLState Street SPDR Portfolio S&P 400 Mid Cap ETFMETvs. Q4 2024SEC
Q4 2024Feb 14, 202579$232.7MALTMORCLMETvs. Q3 2024SEC
Q3 2024Nov 12, 202479$227.0MORCLMETVanguard Whitehall FDSvs. Q2 2024SEC
Q2 2024Aug 9, 202474$211.8MORCLGOOGVanguard Whitehall FDSvs. Q1 2024SEC
Q1 2024May 16, 202470$205.5MMETVanguard Whitehall FDSGSvs. Q4 2023SEC
Q4 2023Feb 12, 202461$172.8MState Street SPDR Bloomberg 1-3 Month T-Bill ETFMETVanguard Whitehall FDSvs. Q3 2023SEC
Q3 2023Nov 14, 202356$150.7MVanguard Whitehall FDSState Street SPDR Bloomberg 1-3 Month T-Bill ETFMETvs. Q2 2023SEC
Q2 2023Aug 4, 202373$179.3MGLDState Street SPDR Bloomberg 1-3 Month T-Bill ETFVanguard Whitehall FDSvs. Q1 2023SEC
Q1 2023Jun 6, 202389$198.8MGLDState Street SPDR Bloomberg 1-3 Month T-Bill ETFMETvs. Q4 2022SEC
Q4 2022Feb 14, 202388$204.2MGLDiShares TrMETvs. Q3 2022SEC
Q3 2022Nov 14, 202284$192.2MGLDiShares TrMETvs. Q2 2022SEC
Q2 2022Aug 15, 202280$195.9MGLDiShares TrMETvs. Q1 2022SEC
Q1 2022May 13, 202290$256.1MGLDGLNGiShares Trvs. Q4 2021SEC
Q4 2021Feb 18, 202298$265.2MGLDiShares TrGOOGvs. Q3 2021SEC
Q3 2021Nov 18, 2021100$254.9MiShares TrGOOGMETvs. Q2 2021SEC
Q2 2021Aug 26, 2021100$258.3MiShares TrInvesco QQQ Trust Series IGOOGvs. Q1 2021SEC
Q1 2021May 17, 2021103$284.3MFirst Am Govt Ob FD CL YiShares TrInvesco QQQ Trust Series I–SEC