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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
+2.59%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.4B
AUM Growth
-$352M
(-4.5%)
Cap. Flow
-$345M
Cap. Flow
% of AUM
-4.65%
Top 10 Holdings %
Top 10 Hldgs %
42.91%
Holding
554
New
37
Increased
108
Reduced
296
Closed
35
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$109M |
| 2 |
LBRDA
Liberty Broadband Class A
LBRDA
|
+$52.3M |
| 3 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$44.1M |
| 4 |
SRSC
SEARS Canada Inc.
SRSC
|
+$25.9M |
| 5 |
Royal Gold
RGLD
|
+$23.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Liberty Media Series C
FWONK
|
+$125M |
| 2 |
Liberty Media Series A
FWONA
|
+$65.8M |
| 3 |
Jefferies Financial Group
JEF
|
+$43.5M |
| 4 |
QVCGA
QVC Group Inc Series A
QVCGA
|
+$41.3M |
| 5 |
SHLD
Sears Holding Corporation
SHLD
|
+$31M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 25.89% |
| 2 | Consumer Discretionary | 22.64% |
| 3 | Real Estate | 11.62% |
| 4 | Financials | 9.96% |
| 5 | Energy | 9.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Deluxe
DLX
$1.08B
| $1.05M | 0.01% |
16,850
-300
| -2% | -$17.6K |
|
227
KKR & Co
KKR
$89.8B
| $1.04M | 0.01% |
45,024
-7,108
| -14% | -$156K |
|
|
MANT
228
DELISTED
Mantech International Corp
MANT
| $1.03M | 0.01% |
34,000
| – | – |
|
229
NewMarket
NEU
$8.13B
| $1.03M | 0.01% |
2,545
+56
| +2% | +$21.6K |
|
|
AFFX
230
DELISTED
Affymetrix Inc
AFFX
| $1.03M | 0.01% |
104,000
| – | – |
|
231
BGC Group
BGC
$5.77B
| $1.01M | 0.01% |
172,286
+31,845
| +23% | +$171K |
|
232
GSK
GSK
$100B
| $1.01M | 0.01% |
18,978
-240
| -1% | -$13.4K |
|
233
Medallion Financial
MFIN
$279M
| $1.01M | 0.01% |
101,328
| – | – |
|
234
Boeing
BA
$166B
| $1M | 0.01% |
7,714
-120
| -2% | -$15.2K |
|
235
Caterpillar
CAT
$360B
| $982K | 0.01% |
10,724
+225
| +2% | +$21.9K |
|
|
HRG
236
DELISTED
HRG Group, Inc.
HRG
| $977K | 0.01% |
68,978
+5,469
| +9% | +$72.2K |
|
237
Cohen & Steers Quality Income Realty Fund
RQI
$1.55B
| $976K | 0.01% |
80,092
-6,295
| -7% | -$72.7K |
|
238
Abbott
ABT
$177B
| $967K | 0.01% |
21,473
-7,830
| -27% | -$341K |
|
239
Seaboard Corp
SEB
$4.11B
| $966K | 0.01% |
230
| – | – |
|
240
Marriott Vacations Worldwide
VAC
$3.48B
| $956K | 0.01% |
12,824
-1,358
| -10% | -$94.4K |
|
|
AWF
241
AllianceBernstein Global High Income Fund
AWF
$856M
| $953K | 0.01% |
76,673
| – | – |
|
|
NPM
242
DELISTED
NUVEEN PREMIUM INCM MUNI FD II
NPM
| $948K | 0.01% |
66,977
-59,209
| -47% | -$826K |
|
243
Herc Holdings
HRI
$4.65B
| $937K | 0.01% |
+12,526
| New | +$846K |
|
244
Metallus
MTUS
$793M
| $927K | 0.01% |
25,037
+7,819
| +45% | +$289K |
|
|
VXX
245
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $918K | 0.01% |
+2,988
| New | +$1.47M |
|
246
AstraZeneca
AZN
$251B
| $915K | 0.01% |
13,000
| – | – |
|
247
Designer Brands
DBI
$320M
| $915K | 0.01% |
24,540
-3,699
| -13% | -$121K |
|
248
Dillards
DDS
$10B
| $912K | 0.01% |
7,288
-101
| -1% | -$11.3K |
|
|
AMRI
249
DELISTED
Albany Molecular Research Inc
AMRI
| $912K | 0.01% |
56,000
| – | – |
|
250
Invesco Trust for Investment Grade New York Municipals
VTN
$146M
| $910K | 0.01% |
66,571
-18,893
| -22% | -$256K |
|
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Horizon Kinetics's Q4 2014 Portfolio in Review
As of Q4 2014, Horizon Kinetics held 554 positions worth $7.4B, down 4.5% from $7.76B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Horizon Kinetics withdrew a net $345M in Q4 2014, closing 35 positions and reducing 296 holdings. Its most notable exit was BURGER KING WORLDWIDE, an estimated $13.8M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 26% of assets, down from 27% a quarter earlier, followed by Consumer Discretionary and Real Estate.
Against the trend, Horizon Kinetics opened a new position in Liberty Broadband Class C worth $111M.
- Horizon Kinetics's largest Q4 2014 buy was Liberty Broadband Class C: 2,222,661 shares worth $111M.
- Horizon Kinetics added most to Liberty Interactive Corporation Series A Liberty Ventures in Q4 2014, an estimated $44.1M increase.
- Horizon Kinetics's biggest Q4 2014 reduction was Liberty Media Series C, cutting an estimated $125M.
- Horizon Kinetics fully exited BURGER KING WORLDWIDE in Q4 2014, selling an estimated $13.8M.
- Horizon Kinetics's ten largest holdings make up 43% of its $7.4B portfolio in Q4 2014.
- Horizon Kinetics opened 37 new positions and closed 35 in Q4 2014.
- Horizon Kinetics's portfolio value fell 4.5% quarter-over-quarter to $7.4B.
Based on Horizon Kinetics's 13F filing for Q4 2014, filed 17 Feb 2015.