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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
+11.28%
1 Year Est. Return
+88.05%
3 Year Est. Return
+389.89%
5 Year Est. Return
+1,483.74%
10 Year Est. Return
–
AUM
$219M
AUM Growth
-$38.6M
Cap. Flow
-$53.1M
Cap. Flow %
-24.29%
Top 10 Hldgs %
86.11%
Holding
41
New
14
Increased
5
Reduced
3
Closed
13

Top Buys

1
MGLN
Magellan Health Services, Inc.
MGLN
+$8.78M
2
ATH
Athene Holding Ltd. Class A Common Shares
ATH
+$7.49M
3
PBCT
People's United Financial Inc
PBCT
+$6.85M
4
CONE
CyrusOne Inc Common Stock
CONE
+$6.08M
5
MIME
Mimecast Limited
MIME
+$4.72M

Top Sells

1
VER
VEREIT, Inc.
VER
+$21.5M
2
CSOD
Cornerstone OnDemand, Inc.
CSOD
+$16M
3
UFS
DOMTAR CORPORATION (New)
UFS
+$14.4M
4
KSU
Kansas City Southern
KSU
+$10.2M
5
CADE
Cadence Bancorporation
CADE
+$7.45M

Sector Composition

1 Financials 31.77%
2 Communication Services 22.01%
3 Technology 14.78%
4 Healthcare 13.79%
5 Industrials 1.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INFO
1
DELISTED
IHS Markit Ltd. Common Shares
INFO
$47.8M 21.87%
359,600
– –
MGLN
2
DELISTED
Magellan Health Services, Inc.
MGLN
$26.5M 12.12%
278,855
+92,737
+50% +$8.78M
XLNX
3
DELISTED
Xilinx Inc
XLNX
$22.7M 10.37%
106,900
– –
NUAN
4
DELISTED
Nuance Communications, Inc.
NUAN
$22.5M 10.3%
406,886
+40,300
+11% +$2.22M
WTW icon
5
Willis Towers Watson
WTW
$27.8B
$17.5M 8.01%
73,745
-28,500
-28% -$6.74M
CIT
6
DELISTED
CIT Group Inc.
CIT
$17M 7.78%
331,293
-36,444
-10% -$1.86M
ATH
7
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
$13.7M 6.25%
164,018
+91,240
+125% +$7.49M
STL
8
DELISTED
Sterling Bancorp
STL
$7.25M 3.32%
281,097
+42,297
+18% +$1.09M
PBCT
9
DELISTED
People's United Financial Inc
PBCT
$6.85M 3.13%
+384,300
New +$6.85M
CONE
10
DELISTED
CyrusOne Inc Common Stock
CONE
$6.42M 2.94%
+71,600
New +$6.08M
MIME
11
DELISTED
Mimecast Limited
MIME
$4.98M 2.28%
+62,600
New +$4.72M
TGP
12
DELISTED
Teekay LNG Partners L.P.
TGP
$3.82M 1.75%
+225,696
New +$3.83M
ISBC
13
DELISTED
Investors Bancorp, Inc.
ISBC
$3.58M 1.64%
+235,998
New +$3.63M
SCPL
14
DELISTED
SciPlay Corporation Class A Common Stock
SCPL
$3.21M 1.47%
233,338
-46,105
-16% -$826K
COHR
15
DELISTED
Coherent Inc
COHR
$2.4M 1.1%
8,998
– –
KRA
16
DELISTED
Kraton Corporation
KRA
$1.87M 0.85%
40,300
– –
ACBI
17
DELISTED
Atlantic Capital Bancshares, Inc. Common Stock
ACBI
$1.81M 0.83%
62,773
+14,301
+30% +$404K
TSC
18
DELISTED
TriState Capital Holdings, Inc.
TSC
$1.76M 0.81%
+58,300
New +$1.65M
CSPR
19
DELISTED
Casper Sleep Inc.
CSPR
$1.49M 0.68%
+222,275
New +$1.19M
CHNG
20
DELISTED
Change Healthcare Inc. Common Stock
CHNG
$1.28M 0.59%
59,900
– –
ARNA
21
DELISTED
Arena Pharmaceuticals Inc
ARNA
$1.25M 0.57%
+13,400
New +$883K
EPAY
22
DELISTED
Bottomline Technologies Inc
EPAY
$757K 0.35%
+13,400
New +$627K
BPMP
23
DELISTED
BP Midstream Partners LP Common Units representing Limited Partner Interests
BPMP
$650K 0.3%
+42,500
New +$575K
TACO
24
DELISTED
Del Taco Restaurants, Inc. Common Stock
TACO
$435K 0.2%
+34,900
New +$337K
MCFE
25
DELISTED
McAfee Corp. Class A Common Stock
MCFE
$305K 0.14%
+11,841
New +$285K
1
2

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Kellner Capital's Q4 2021 Portfolio in Review

As of Q4 2021, Kellner Capital held 41 positions worth $219M, down 15% from $257M the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Kellner Capital withdrew a net $53.1M in Q4 2021, closing 13 positions and reducing 3 holdings. Its most notable exit was VEREIT, Inc., an estimated $21.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 24% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Kellner Capital opened a new position in People's United Financial Inc worth $6.85M.

  • Kellner Capital's largest Q4 2021 buy was People's United Financial Inc: 384,300 shares worth $6.85M.
  • Kellner Capital added most to Magellan Health Services, Inc. in Q4 2021, an estimated $8.78M increase.
  • Kellner Capital's biggest Q4 2021 reduction was Willis Towers Watson, cutting an estimated $6.74M.
  • Kellner Capital fully exited VEREIT, Inc. in Q4 2021, selling an estimated $21.5M.
  • Kellner Capital's ten largest holdings make up 86% of its $219M portfolio in Q4 2021.
  • Kellner Capital opened 14 new positions and closed 13 in Q4 2021.
  • Kellner Capital's portfolio value fell 15% quarter-over-quarter to $219M.

Based on Kellner Capital's 13F filing for Q4 2021, filed 10 Feb 2022.