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Horizon Kinetics Portfolio holdings

AUM $3.06B
1-Year Est. Return 5.37%
This Fund
S&P 500
This Quarter Est. Return
+11.53%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.3B
AUM Growth
+$469M
Cap. Flow
-$327M
Cap. Flow %
-4.48%
Top 10 Hldgs %
48.05%
Holding
574
New
118
Increased
114
Reduced
223
Closed
34

Top Buys

Rank Stock Value
1
QVCGA
QVC Group Inc Series A
QVCGA
+$14.9M
2
SHLD
Sears Holding Corporation
SHLD
+$14M
3
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
+$10.4M
4
VIAB
Viacom Inc. Class B
VIAB
+$9.77M
5
DSL
DoubleLine Income Solutions Fund
DSL
+$7.65M

Top Sells

Rank Stock Value
1
ELS icon
Equity Lifestyle Properties
ELS
+$87M
2
CBOE icon
Cboe Global Markets
CBOE
+$34.7M
3
JCP
J.C. Penney Company, Inc.
JCP
+$15.5M
4
HHH icon
Howard Hughes
HHH
+$14.9M
5
RSE
ROUSE PPTYS INC COM (DE)
RSE
+$14.8M

Sector Composition

Rank Sector Weight
1 Communication Services 28.73%
2 Consumer Discretionary 20.62%
3 Financials 13.99%
4 Real Estate 13.82%
5 Energy 8.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BG icon
226
Bunge Global
BG
$23.4B
$963K 0.01%
12,690
+60
+0.5% +$4.54K
EPD icon
227
Enterprise Products Partners
EPD
$83.8B
$962K 0.01%
31,506
-5,328
-14% -$163K
MCD icon
228
McDonald's
MCD
$179B
$958K 0.01%
9,954
+7,113
+250% +$694K
LXP.PRC icon
229
LXP Industrial Trust 6.5% Series C Preferred Stock
LXP.PRC
$95.5M
$953K 0.01%
20,785
-18,814
-48% -$894K
MAR icon
230
Marriott International
MAR
$87.9B
$946K 0.01%
22,499
+7,809
+53% +$324K
HIO
231
Western Asset High Income Opportunity Fund
HIO
$323M
$942K 0.01%
157,921
-3,213
-2% -$18.8K
ROK icon
232
Rockwell Automation
ROK
$46.3B
$937K 0.01%
8,763
-200
-2% -$19.5K
CLDX icon
233
Celldex Therapeutics
CLDX
$3.02B
$933K 0.01%
1,756
+3
+0.2% +$1.03K
KLAC icon
234
KLA
KLAC
$220B
$931K 0.01%
153,000
-3,000
-2% -$17.6K
DDC
235
DELISTED
Dominion Diamond Corporation
DDC
$915K 0.01%
75,046
-18,539
-20% -$250K
ADM icon
236
Archer Daniels Midland
ADM
$41.7B
$896K 0.01%
24,332
– –
RDS.A
237
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$891K 0.01%
14,521
– –
DLX icon
238
Deluxe
DLX
$1.08B
$881K 0.01%
21,150
-6,200
-23% -$249K
NEA icon
239
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.18B
$880K 0.01%
70,435
-2,904
-4% -$35.7K
PMO
240
Franklin Municipal Opportunities Trust
PMO
$264M
$860K 0.01%
78,644
-24,453
-24% -$265K
PG icon
241
Procter & Gamble
PG
$341B
$845K 0.01%
11,183
-850
-7% -$67.6K
ALKS icon
242
Alkermes
ALKS
$7.72B
$840K 0.01%
25,000
– –
FE icon
243
FirstEnergy
FE
$26.2B
$840K 0.01%
23,040
– –
QCOM icon
244
Qualcomm
QCOM
$201B
$838K 0.01%
12,449
+4,449
+56% +$292K
SEE
245
DELISTED
Sealed Air
SEE
$835K 0.01%
30,725
-300
-1% -$8.5K
SLB icon
246
SLB Ltd
SLB
$80.4B
$829K 0.01%
9,382
– –
AVP
247
DELISTED
Avon Products, Inc.
AVP
$806K 0.01%
39,118
+200
+0.5% +$4.28K
NQU
248
DELISTED
NUVEEN QUALITY INCOME MUNI FD
NQU
$799K 0.01%
63,401
-25,100
-28% -$315K
CAT icon
249
Caterpillar
CAT
$360B
$793K 0.01%
9,509
-120
-1% -$10.1K
PRIS.B
250
DELISTED
PROMOTORA DE INFORMACIONES SA ADR REPSTG 4 CL B CONV SHS
PRIS.B
$783K 0.01%
+524,023
New +$495K
8 9
10
11 12

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Horizon Kinetics's Q3 2013 Portfolio in Review

As of Q3 2013, Horizon Kinetics held 574 positions worth $7.3B, up 6.9% from $6.83B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Horizon Kinetics withdrew a net $327M in Q3 2013, closing 34 positions and reducing 223 holdings. Its most notable exit was State Street SPDR Bloomberg High Yield Bond ETF, an estimated $3.36M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 29% of assets, up from 27% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Horizon Kinetics opened a new position in HEICO Corp Class A worth $6.53M.

  • Horizon Kinetics's largest Q3 2013 buy was HEICO Corp Class A: 496,933 shares worth $6.53M.
  • Horizon Kinetics added most to QVC Group Inc Series A in Q3 2013, an estimated $14.9M increase.
  • Horizon Kinetics's biggest Q3 2013 reduction was Equity Lifestyle Properties, cutting an estimated $87M.
  • Horizon Kinetics fully exited State Street SPDR Bloomberg High Yield Bond ETF in Q3 2013, selling an estimated $3.36M.
  • Horizon Kinetics's ten largest holdings make up 48% of its $7.3B portfolio in Q3 2013.
  • Horizon Kinetics opened 118 new positions and closed 34 in Q3 2013.
  • Horizon Kinetics's portfolio value rose 6.9% quarter-over-quarter to $7.3B.

Based on Horizon Kinetics's 13F filing for Q3 2013, filed 14 Nov 2013.