Forty-five of the 55 top-200 alpha managers holding $LMT as of Q1 2026 initiated the position this quarter — a cohort-wide entry that is structurally unusual in its breadth. Lumbard & Kellner, LLC opened at 2.29% weight (+2.29pp), the largest new position in the cohort. Cypress Capital Group also initiated at 1.89% (+1.89pp).
Among prior holders, Sharpepoint LLC added meaningfully, lifting its weight from 0.88% to 1.89% (+1.01pp). Altrius Capital Management Inc held near-flat at 1.44% (+0.13pp), while River Road Asset Management, LLC trimmed from 0.88% to 0.48% (−0.40pp). Wellington Management Group LLP reduced its 0.19% position to effectively zero and is classified as exited.
The cohort's average position weight sits at 0.36%, with a range of 0.00% to 2.29%. That spread reflects a distribution heavily skewed toward small, toe-in-the-water initiations: the majority of the 45 new entrants came in below 0.20%, suggesting broad but shallow interest rather than concentrated conviction. Only Sharpepoint LLC among returning holders made a materially larger bet.
Forty-five initiations in a single quarter across a cohort of 200 is a wide entry; the median new position weight is well under 0.15%, which tempers the headline count considerably.