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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
+0.65%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$4.03B
AUM Growth
-$613M
Cap. Flow
-$514M
Cap. Flow %
-12.76%
Top 10 Hldgs %
47.09%
Holding
548
New
39
Increased
118
Reduced
299
Closed
19

Top Buys

Rank Stock Value
1
WPM icon
Wheaton Precious Metals
WPM
+$20.3M
2
FNV icon
Franco-Nevada
FNV
+$16.4M
3
TPL icon
Texas Pacific Land
TPL
+$4.02M
4
DSL
DoubleLine Income Solutions Fund
DSL
+$3.98M
5
XOM icon
ExxonMobil
XOM
+$1.7M

Top Sells

Rank Stock Value
1
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$57.4M
2
HHH icon
Howard Hughes
HHH
+$46.6M
3
QVCGA
QVC Group Inc Series A
QVCGA
+$41.1M
4
JAH
JARDEN CORPORATION
JAH
+$32.8M
5
AN icon
AutoNation
AN
+$23.4M

Sector Composition

Rank Sector Weight
1 Communication Services 27.02%
2 Consumer Discretionary 16.19%
3 Energy 12.88%
4 Real Estate 11.7%
5 Financials 9.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TREE icon
226
LendingTree
TREE
$376M
$805K 0.02%
8,233
– –
LAND
227
Gladstone Land Corp
LAND
$406M
$802K 0.02%
79,667
+50,880
+177% +$428K
CELG
228
DELISTED
Celgene Corp
CELG
$801K 0.02%
8,000
– –
MANT
229
DELISTED
Mantech International Corp
MANT
$800K 0.02%
25,000
– –
RAI
230
DELISTED
Reynolds American Inc
RAI
$800K 0.02%
15,900
-828
-5% -$40.7K
AZN icon
231
AstraZeneca
AZN
$251B
$797K 0.02%
14,151
+151
+1% +$9.07K
HPF
232
John Hancock Preferred Income Fund II
HPF
$310M
$794K 0.02%
+37,363
New +$748K
NPT
233
DELISTED
NUVEEN PREM INSD MUNI FD-4 INC
NPT
$794K 0.02%
56,598
– –
BOKF icon
234
BOK Financial
BOKF
$8.25B
$790K 0.02%
14,466
-2,008
-12% -$105K
NDAQ icon
235
Nasdaq
NDAQ
$49.9B
$781K 0.02%
35,313
-477
-1% -$9.82K
LILAK icon
236
Liberty Latin America Class C
LILAK
$1.73B
$769K 0.02%
23,705
-1,048
-4% -$33.3K
GEN icon
237
Gen Digital
GEN
$18.7B
$756K 0.02%
41,150
-8,850
-18% -$170K
DLX icon
238
Deluxe
DLX
$1.08B
$755K 0.02%
12,077
+177
+1% +$9.86K
TFX icon
239
Teleflex
TFX
$5.47B
$752K 0.02%
4,792
-150
-3% -$20.9K
VOD icon
240
Vodafone
VOD
$40.9B
$752K 0.02%
23,465
-2,174
-8% -$67.7K
MZF
241
DELISTED
Managed Duration Inv Grd Muni Fd
MZF
$752K 0.02%
53,940
+503
+0.9% +$6.98K
RDS.A
242
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$741K 0.02%
16,133
+105
+0.7% +$4.45K
SPSB icon
243
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$11.3B
$735K 0.02%
24,000
– –
JRO
244
DELISTED
Nuveen Floating Rate Income Opportunty Fund
JRO
$735K 0.02%
74,280
-6,489
-8% -$60.7K
PNF
245
DELISTED
PIMCO New York Municipal Income Fund
PNF
$727K 0.02%
57,419
– –
NUV icon
246
Nuveen Municipal Value Fund
NUV
$1.79B
$725K 0.02%
+69,172
New +$709K
BG icon
247
Bunge Global
BG
$23.4B
$719K 0.02%
12,690
– –
MKTX icon
248
MarketAxess Holdings
MKTX
$5.75B
$712K 0.02%
5,700
– –
VNO icon
249
Vornado Realty Trust
VNO
$6.45B
$704K 0.02%
9,222
-2,429
-21% -$176K
MTW icon
250
Manitowoc
MTW
$741M
$703K 0.02%
40,607
-64,270
-61% -$933K
8 9
10
11 12

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Horizon Kinetics's Q1 2016 Portfolio in Review

As of Q1 2016, Horizon Kinetics held 548 positions worth $4.03B, down 13% from $4.64B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Horizon Kinetics withdrew a net $514M in Q1 2016, closing 19 positions and reducing 299 holdings. Its most notable exit was Vanguard Extended Market ETF, an estimated $14.5M position sold in full.

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

Against the trend, Horizon Kinetics opened a new position in Tortoise Midstream Energy Fund, Inc. Common Stock worth $1.78M.

  • Horizon Kinetics's largest Q1 2016 buy was Tortoise Midstream Energy Fund, Inc. Common Stock: 10,900 shares worth $1.78M.
  • Horizon Kinetics added most to Wheaton Precious Metals in Q1 2016, an estimated $20.3M increase.
  • Horizon Kinetics's biggest Q1 2016 reduction was Liberty Interactive Corporation Series A Liberty Ventures, cutting an estimated $57.4M.
  • Horizon Kinetics fully exited Vanguard Extended Market ETF in Q1 2016, selling an estimated $14.5M.
  • Horizon Kinetics's ten largest holdings make up 47% of its $4.03B portfolio in Q1 2016.
  • Horizon Kinetics opened 39 new positions and closed 19 in Q1 2016.
  • Horizon Kinetics's portfolio value fell 13% quarter-over-quarter to $4.03B.

Based on Horizon Kinetics's 13F filing for Q1 2016, filed 15 Apr 2016.