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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
+12.44%
1 Year Est. Return
+88.05%
3 Year Est. Return
+389.89%
5 Year Est. Return
+1,483.74%
10 Year Est. Return
–
AUM
$85M
AUM Growth
-$2.02M
Cap. Flow
-$7.46M
Cap. Flow %
-8.78%
Top 10 Hldgs %
90.44%
Holding
37
New
11
Increased
6
Reduced
1
Closed
16

Top Buys

1
DEN
Denbury Inc.
DEN
+$11.9M
2
NEWR
New Relic, Inc.
NEWR
+$7.93M
3
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$5.4M
4
ATVI
Activision Blizzard
ATVI
+$3.43M
5
NATI
National Instruments Corp
NATI
+$3.16M

Top Sells

1
SYNH
Syneos Health, Inc. Class A Common Stock
SYNH
+$7.81M
2
FOCS
Focus Financial Partners Inc. Class A
FOCS
+$7.75M
3
UNVR
Univar Solutions Inc.
UNVR
+$6.19M
4
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$6.02M
5
AJRD
Aerojet Rocketdyne Holdings
AJRD
+$3.93M

Sector Composition

1 Technology 43.84%
2 Healthcare 16.74%
3 Energy 15.19%
4 Financials 5.22%
5 Real Estate 3.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ATVI
1
DELISTED
Activision Blizzard
ATVI
$14.1M 16.53%
150,072
+37,600
+33% +$3.43M
DEN
2
DELISTED
Denbury Inc.
DEN
$12.9M 15.19%
+131,760
New +$11.9M
HZNP
3
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$12.3M 14.48%
106,400
+50,300
+90% +$5.4M
VMW
4
DELISTED
VMware, Inc
VMW
$10.7M 12.54%
64,008
+18,100
+39% +$2.9M
NATI
5
DELISTED
National Instruments Corp
NATI
$10.3M 12.06%
171,949
+53,851
+46% +$3.16M
NEWR
6
DELISTED
New Relic, Inc.
NEWR
$8.42M 9.91%
+98,372
New +$7.93M
CIR
7
DELISTED
CIRCOR International, Inc
CIR
$2.9M 3.42%
52,115
+17,100
+49% +$954K
ABCM
8
DELISTED
Abcam PLC
ABCM
$1.92M 2.26%
+84,700
New +$1.95M
AVID
9
DELISTED
Avid Technology Inc
AVID
$1.85M 2.18%
+69,034
New +$1.82M
HT
10
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
$1.59M 1.88%
+161,800
New +$1.24M
GHL
11
DELISTED
Greenhill & Co., Inc.
GHL
$1.37M 1.61%
92,614
+19,272
+26% +$284K
FHN icon
12
First Horizon
FHN
$12.2B
$1.09M 1.28%
98,860
-63,000
-39% -$780K
ARGO
13
DELISTED
Argo Group International Holdings, Ltd.
ARGO
$1.01M 1.19%
33,898
– –
RPT
14
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
$1.01M 1.18%
+95,305
New +$1.02M
AVTA
15
DELISTED
Avantax, Inc. Common Stock
AVTA
$962K 1.13%
+37,600
New +$892K
NXGN
16
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
$795K 0.94%
+33,500
New +$630K
TSEM icon
17
Tower Semiconductor
TSEM
$26.5B
$666K 0.78%
27,116
– –
SIMO icon
18
Silicon Motion
SIMO
$8.96B
$641K 0.75%
+12,500
New +$711K
SAVE
19
DELISTED
Spirit Airlines, Inc.
SAVE
$292K 0.34%
17,700
– –
SCPL
20
DELISTED
SciPlay Corporation Class A Common Stock
SCPL
$203K 0.24%
+8,920
New +$192K
SOVO
21
DELISTED
Sovos Brands, Inc. Common Stock
SOVO
$86K 0.1%
+3,800
New +$79.9K
TRTN
22
DELISTED
Triton International Limited
TRTN
– –
-25,400
Closed -$2.12M
SYNH
23
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
– –
-185,400
Closed -$7.81M
MMP
24
DELISTED
Magellan Midstream Partners, L.P.
MMP
– –
-21,600
Closed -$1.35M
RADI
25
DELISTED
Radius Global Infrastructure, Inc. Class A Common Stock
RADI
– –
-70,946
Closed -$1.06M
1
2

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LR
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SC
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JCI
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RTM
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AOGP
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Kellner Capital's Q3 2023 Portfolio in Review

As of Q3 2023, Kellner Capital held 37 positions worth $85M, down 2.3% from $87M the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Kellner Capital withdrew a net $7.46M in Q3 2023, closing 16 positions and reducing 1 holding. Its most notable exit was Syneos Health, Inc. Class A Common Stock, an estimated $7.81M position sold in full.

By sector, the portfolio is most concentrated in Technology at 44% of assets, up from 29% a quarter earlier, followed by Healthcare and Energy.

Against the trend, Kellner Capital opened a new position in Denbury Inc. worth $12.9M.

  • Kellner Capital's largest Q3 2023 buy was Denbury Inc.: 131,760 shares worth $12.9M.
  • Kellner Capital added most to Horizon Therapeutics Public Limited Company Ordinary Shares in Q3 2023, an estimated $5.4M increase.
  • Kellner Capital's biggest Q3 2023 reduction was First Horizon, cutting an estimated $780K.
  • Kellner Capital fully exited Syneos Health, Inc. Class A Common Stock in Q3 2023, selling an estimated $7.81M.
  • Kellner Capital's ten largest holdings make up 90% of its $85M portfolio in Q3 2023.
  • Kellner Capital opened 11 new positions and closed 16 in Q3 2023.
  • Kellner Capital's portfolio value fell 2.3% quarter-over-quarter to $85M.

Based on Kellner Capital's 13F filing for Q3 2023, filed 13 Nov 2023.