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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
+7.48%
1 Year Est. Return
+88.05%
3 Year Est. Return
+389.89%
5 Year Est. Return
+1,483.74%
10 Year Est. Return
–
AUM
$126M
AUM Growth
-$22.4M
Cap. Flow
-$25.8M
Cap. Flow %
-20.46%
Top 10 Hldgs %
71.48%
Holding
43
New
15
Increased
6
Reduced
7
Closed
15

Top Buys

1
CAVM
Cavium, Inc.
CAVM
+$7.41M
2
BSFT
BroadSoft, Inc.
BSFT
+$5.94M
3
OA
Orbital ATK, Inc.
OA
+$5.75M
4
TWX
Time Warner Inc
TWX
+$4.8M
5
AET
Aetna Inc
AET
+$3.01M

Top Sells

1
BCR
CR Bard Inc.
BCR
+$18.5M
2
ALR
Alere Inc
ALR
+$8.1M
3
SFR
Starwood Waypoint Homes
SFR
+$7.99M
4
LVLT
Level 3 Communications Inc
LVLT
+$7.63M
5
PRXL
Parexel International Corp
PRXL
+$6.34M

Sector Composition

1 Technology 41.24%
2 Communication Services 25.95%
3 Consumer Discretionary 6.15%
4 Materials 4.84%
5 Consumer Staples 4.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DYN
26
DELISTED
Dynegy, Inc.
DYN
$981K 0.78%
+82,800
New +$925K
LUMN icon
27
Lumen
LUMN
$6.47B
$327K 0.26%
+19,580
New +$332K
CPLA
28
DELISTED
Capella Education Company
CPLA
$271K 0.21%
+3,500
New +$272K
NBL
29
DELISTED
Noble Energy, Inc.
NBL
– –
-9,933
Closed -$282K
FIG
30
DELISTED
Fortress Investment Group Llc
FIG
– –
-369,600
Closed -$2.95M
TESO
31
DELISTED
Tesco Corp
TESO
– –
-87,205
Closed -$475K
RIC
32
DELISTED
Richmont Mines Inc.
RIC
– –
-80,900
Closed -$756K
BRCD
33
DELISTED
Brocade Communications Systems, Inc. NEW
BRCD
– –
-405,000
Closed -$4.84M
RICE
34
DELISTED
Rice Energy Inc.
RICE
– –
-107,500
Closed -$3.11M
LVLT
35
DELISTED
Level 3 Communications Inc
LVLT
– –
-143,200
Closed -$7.63M
WNRL
36
DELISTED
Western Refining Logistics, LP
WNRL
– –
-31,600
Closed -$815K
WSTC
37
DELISTED
West Corporation
WSTC
– –
-204,000
Closed -$4.79M
ALR
38
DELISTED
Alere Inc
ALR
– –
-158,900
Closed -$8.1M
PRXL
39
DELISTED
Parexel International Corp
PRXL
– –
-72,000
Closed -$6.34M
VTTI
40
DELISTED
VTTI Energy Partners LP
VTTI
– –
-243,200
Closed -$4.74M
SFR
41
DELISTED
Starwood Waypoint Homes
SFR
– –
-219,800
Closed -$7.99M
BCR
42
DELISTED
CR Bard Inc.
BCR
– –
-57,836
Closed -$18.5M
NDRM
43
DELISTED
NeuroDerm Ltd. Ordinary Shares
NDRM
– –
-65,600
Closed -$2.55M
1
2

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Kellner Capital's Q4 2017 Portfolio in Review

As of Q4 2017, Kellner Capital held 43 positions worth $126M, down 15% from $149M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Kellner Capital withdrew a net $25.8M in Q4 2017, closing 15 positions and reducing 7 holdings. Its most notable exit was CR Bard Inc., an estimated $18.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 41% of assets, up from 26% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Kellner Capital opened a new position in Cavium, Inc. worth $8.03M.

  • Kellner Capital's largest Q4 2017 buy was Cavium, Inc.: 95,800 shares worth $8.03M.
  • Kellner Capital added most to Time Warner Inc in Q4 2017, an estimated $4.8M increase.
  • Kellner Capital's biggest Q4 2017 reduction was NXP Semiconductors, cutting an estimated $1.04M.
  • Kellner Capital fully exited CR Bard Inc. in Q4 2017, selling an estimated $18.5M.
  • Kellner Capital's ten largest holdings make up 71% of its $126M portfolio in Q4 2017.
  • Kellner Capital opened 15 new positions and closed 15 in Q4 2017.
  • Kellner Capital's portfolio value fell 15% quarter-over-quarter to $126M.

Based on Kellner Capital's 13F filing for Q4 2017, filed 12 Feb 2018.