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KC

Kellner Capital Portfolio holdings

AUM $55.5M
1-Year Est. Return 88.05%
This Fund
S&P 500
This Quarter Est. Return
+19.1%
1 Year Est. Return
+88.05%
3 Year Est. Return
+389.89%
5 Year Est. Return
+1,483.74%
10 Year Est. Return
–
AUM
$55.5M
AUM Growth
-$29.5M
Cap. Flow
-$33.2M
Cap. Flow %
-59.79%
Top 10 Hldgs %
82.85%
Holding
37
New
16
Increased
2
Reduced
–
Closed
19

Top Buys

1
HES
Hess
HES
+$11.5M
2
SPLK
Splunk Inc
SPLK
+$7.38M
3
PXD
Pioneer Natural Resource Co.
PXD
+$6.26M
4
CPRI icon
Capri Holdings
CPRI
+$4.17M
5
SP
SP Plus Corporation
SP
+$3.4M

Top Sells

1
ATVI
Activision Blizzard
ATVI
+$14.1M
2
DEN
Denbury Inc.
DEN
+$12.9M
3
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$12.3M
4
VMW
VMware, Inc
VMW
+$10.7M
5
NATI
National Instruments Corp
NATI
+$10.3M

Sector Composition

1 Energy 31.27%
2 Technology 21.28%
3 Healthcare 13.33%
4 Real Estate 11.14%
5 Industrials 9.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HES
1
DELISTED
Hess
HES
$11.4M 20.45%
+78,752
New +$11.5M
SPLK
2
DELISTED
Splunk Inc
SPLK
$7.53M 13.56%
+49,400
New +$7.38M
PXD
3
DELISTED
Pioneer Natural Resource Co.
PXD
$6M 10.82%
+26,699
New +$6.26M
CPRI icon
4
Capri Holdings
CPRI
$1.88B
$4.2M 7.57%
+83,600
New +$4.17M
SRC
5
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
$3.79M 6.83%
+86,750
New +$3.35M
SP
6
DELISTED
SP Plus Corporation
SP
$3.48M 6.26%
+67,836
New +$3.4M
AYX
7
DELISTED
Alteryx Inc
AYX
$2.49M 4.49%
+52,800
New +$2.05M
MRTX
8
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$2.43M 4.38%
+41,400
New +$2.33M
RPT
9
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
$2.4M 4.31%
186,699
+91,394
+96% +$1.04M
SOVO
10
DELISTED
Sovos Brands, Inc. Common Stock
SOVO
$2.32M 4.19%
105,425
+101,625
+2,674% +$2.23M
IMGN
11
DELISTED
Immunogen Inc
IMGN
$2.05M 3.7%
+69,200
New +$1.38M
ESMT
12
DELISTED
EngageSmart, Inc.
ESMT
$1.79M 3.23%
+78,400
New +$1.74M
HOLI
13
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
$1.58M 2.85%
+60,043
New +$1.35M
KRTX
14
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
$1.3M 2.34%
+4,100
New +$797K
CERE
15
DELISTED
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
$861K 1.55%
+20,300
New +$583K
X
16
DELISTED
US Steel
X
$793K 1.43%
+16,300
New +$593K
RYZB
17
DELISTED
RayzeBio, Inc. Common Stock
RYZB
$758K 1.37%
+12,200
New +$303K
DSKE
18
DELISTED
Daseke, Inc. Common Stock
DSKE
$379K 0.68%
+46,759
New +$226K
FHN icon
19
First Horizon
FHN
$12.2B
– –
-98,860
Closed -$1.09M
SIMO icon
20
Silicon Motion
SIMO
$8.96B
– –
-12,500
Closed -$641K
TSEM icon
21
Tower Semiconductor
TSEM
$26.5B
– –
-27,116
Closed -$666K
SAVE
22
DELISTED
Spirit Airlines, Inc.
SAVE
– –
-17,700
Closed -$292K
ABCM
23
DELISTED
Abcam PLC
ABCM
– –
-84,700
Closed -$1.92M
GHL
24
DELISTED
Greenhill & Co., Inc.
GHL
– –
-92,614
Closed -$1.37M
HT
25
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
– –
-161,800
Closed -$1.59M
1
2

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RTM
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AOGP
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Kellner Capital's Q4 2023 Portfolio in Review

As of Q4 2023, Kellner Capital held 37 positions worth $55.5M, down 35% from $85M the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Kellner Capital withdrew a net $33.2M in Q4 2023, closing 19 positions. Its most notable exit was Activision Blizzard, an estimated $14.1M position sold in full.

By sector, the portfolio is most concentrated in Energy at 31% of assets, up from 15% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Kellner Capital opened a new position in Hess worth $11.4M.

  • Kellner Capital's largest Q4 2023 buy was Hess: 78,752 shares worth $11.4M.
  • Kellner Capital added most to Sovos Brands, Inc. Common Stock in Q4 2023, an estimated $2.23M increase.
  • Kellner Capital fully exited Activision Blizzard in Q4 2023, selling an estimated $14.1M.
  • Kellner Capital's ten largest holdings make up 83% of its $55.5M portfolio in Q4 2023.
  • Kellner Capital opened 16 new positions and closed 19 in Q4 2023.
  • Kellner Capital's portfolio value fell 35% quarter-over-quarter to $55.5M.

Based on Kellner Capital's 13F filing for Q4 2023, filed 7 Feb 2024.