The majority of k1's portfolio comprised of investments in privately-held companies. Disclosure of financial  data  for  these  privately-held  investments  is  either  limited  or  not  publicly  available.  This makes it difficult for investors to ascribe valuations to its investments and establish a fair value for the  stock.  The  long  gestation  period  for  these  private  investments  to  bear  fruit  also  deter  some prospective investors. To its credit, k1's investments have done creditably well under the current management  team  led  by  Steven  Green.  Following  a  series  of  successful  investments,  the company has, since 2005, distributed more than $470m, or 23''/share, back to shareholders. The remaining  portfolio  includes:  1)  a  80.1%  stake  in  Helm  Holding  Corporation,    a  railcar  and locomotive leasing company based in the United States; 2) a 12.2% stake in Knowledge Universe Holdings  (KUH),  the  largest  pre-school  education  service  provider  in  the  United  States;  3)  a US$100m  investment  in  the  preferred  shares  of  Guggenheim  Capital,  a  financial  services  firmwith US$100b under management; 4) 2.3m shares in  McMoRan, an E&P company based in the U.S.; 5) an undisclosed stake in China Grand Auto, the largest auto dealership group in China.

Source: OSK