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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
+2.05%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.99B
AUM Growth
+$70.2M
Cap. Flow
-$281M
Cap. Flow %
-3.52%
Top 10 Hldgs %
46.14%
Holding
560
New
27
Increased
223
Reduced
183
Closed
26

Top Buys

Rank Stock Value
1
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$123M
2
ESI icon
Element Solutions
ESI
+$64.4M
3
WEN icon
Wendy's
WEN
+$43.8M
4
SHLD
Sears Holding Corporation
SHLD
+$43.3M
5
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
+$17.4M

Top Sells

Rank Stock Value
1
MA icon
Mastercard
MA
+$242M
2
JEF icon
Jefferies Financial Group
JEF
+$45.7M
3
AN icon
AutoNation
AN
+$32.5M
4
FDO
FAMILY DOLLAR STORES
FDO
+$24.4M
5
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$24.4M

Sector Composition

Rank Sector Weight
1 Communication Services 25.97%
2 Consumer Discretionary 21.04%
3 Real Estate 13.27%
4 Financials 12.47%
5 Energy 9.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TR icon
276
Tootsie Roll Industries
TR
$2.84B
$814K 0.01%
38,782
+14,622
+61% +$303K
BEN icon
277
Franklin Templeton
BEN
$16.9B
$812K 0.01%
14,981
+5,602
+60% +$302K
WTI icon
278
W&T Offshore
WTI
$623M
$811K 0.01%
46,876
+13,426
+40% +$202K
RES icon
279
RPC Inc
RES
$1.37B
$810K 0.01%
39,658
+10,288
+35% +$190K
MCY icon
280
Mercury Insurance
MCY
$5.68B
$808K 0.01%
17,915
+6,550
+58% +$299K
RJF icon
281
Raymond James Financial
RJF
$32.5B
$808K 0.01%
21,660
+6,283
+41% +$220K
APOL
282
DELISTED
Apollo Education Group Inc Class A
APOL
$806K 0.01%
23,550
+3,783
+19% +$123K
BF.B icon
283
Brown-Forman Class B
BF.B
$12B
$800K 0.01%
27,891
+5,778
+26% +$151K
NKE icon
284
Nike
NKE
$53.7B
$800K 0.01%
21,670
+7,202
+50% +$272K
NUAN
285
DELISTED
Nuance Communications, Inc.
NUAN
$800K 0.01%
53,785
+13,007
+32% +$175K
TCO
286
DELISTED
Taubman Centers Inc.
TCO
$800K 0.01%
11,296
+3,014
+36% +$205K
MNST icon
287
Monster Beverage
MNST
$87.4B
$799K 0.01%
138,096
+42,588
+45% +$249K
TTEC icon
288
TTEC Holdings
TTEC
$62.6M
$799K 0.01%
32,588
+10,145
+45% +$235K
ISCA
289
DELISTED
International Speedway Corp
ISCA
$797K 0.01%
23,449
+8,145
+53% +$275K
HALO icon
290
Halozyme
HALO
$12.1B
$796K 0.01%
62,650
+27,118
+76% +$403K
VMRK
291
Vivmark Residential
VMRK
$50.8B
$795K 0.01%
13,716
+3,572
+35% +$201K
NAV
292
DELISTED
Navistar International
NAV
$795K 0.01%
23,461
+9,276
+65% +$328K
CACC icon
293
Credit Acceptance
CACC
$6.23B
$794K 0.01%
5,583
+1,511
+37% +$206K
DHI icon
294
D.R. Horton
DHI
$39.2B
$794K 0.01%
36,666
+11,038
+43% +$250K
HTLD icon
295
Heartland Express
HTLD
$968M
$794K 0.01%
+35,012
New +$732K
HST icon
296
Host Hotels & Resorts
HST
$15.2B
$793K 0.01%
39,197
+11,547
+42% +$224K
ITW icon
297
Illinois Tool Works
ITW
$76.5B
$793K 0.01%
9,745
+3,311
+51% +$268K
WERN icon
298
Werner Enterprises
WERN
$2.25B
$793K 0.01%
31,092
+9,673
+45% +$248K
WRB icon
299
W.R. Berkley
WRB
$26.5B
$793K 0.01%
64,307
+22,673
+54% +$274K
IIJI
300
DELISTED
Internet Initiative Japan Inc
IIJI
$793K 0.01%
67,334
+21,681
+47% +$246K
10 11
12
13 14

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Horizon Kinetics's Q1 2014 Portfolio in Review

As of Q1 2014, Horizon Kinetics held 560 positions worth $7.99B, up 0.89% from $7.92B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Horizon Kinetics withdrew a net $281M in Q1 2014, closing 26 positions and reducing 183 holdings. Its most notable exit was IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN, an estimated $14.4M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 26% of assets, down from 28% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Horizon Kinetics opened a new position in Element Solutions worth $67.7M.

  • Horizon Kinetics's largest Q1 2014 buy was Element Solutions: 3,553,037 shares worth $67.7M.
  • Horizon Kinetics added most to Liberty Interactive Corporation Series A Liberty Ventures in Q1 2014, an estimated $123M increase.
  • Horizon Kinetics's biggest Q1 2014 reduction was Mastercard, cutting an estimated $242M.
  • Horizon Kinetics fully exited IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN in Q1 2014, selling an estimated $14.4M.
  • Horizon Kinetics's ten largest holdings make up 46% of its $7.99B portfolio in Q1 2014.
  • Horizon Kinetics opened 27 new positions and closed 26 in Q1 2014.
  • Horizon Kinetics's portfolio value rose 0.89% quarter-over-quarter to $7.99B.

Based on Horizon Kinetics's 13F filing for Q1 2014, filed 14 May 2014.