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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
MCY icon
326
Mercury Insurance
MCY
$5.68B
$378K 0.01%
+7,828
New +$354K
KMB icon
327
Kimberly-Clark
KMB
$32.8B
$375K 0.01%
4,155
+208
+5% +$19.3K
SPG icon
328
Simon Property Group
SPG
$66B
$374K 0.01%
+2,679
New +$389K
DBI icon
329
Designer Brands
DBI
$320M
$373K 0.01%
+17,472
New +$706K
BXP icon
330
Boston Properties
BXP
$10.2B
$372K 0.01%
+3,483
New +$369K
UPS icon
331
United Parcel Service
UPS
$87.1B
$372K 0.01%
4,067
+100
+3% +$8.79K
NVG icon
332
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.43B
$371K 0.01%
29,260
+6,250
+27% +$78K
IDT icon
333
IDT Corp
IDT
$1.77B
$369K 0.01%
29,401
-4,499
-13% -$54.6K
EVM
334
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$363K 0.01%
35,168
-300
-0.8% -$3.05K
NIO
335
DELISTED
NUVEEN MUNICIPAL OPPORTUNITY FUND INC
NIO
$363K 0.01%
27,921
+5,913
+27% +$77K
TTWO icon
336
Take-Two Interactive
TTWO
$39.6B
$361K ﹤0.01%
+19,885
New +$348K
BIE
337
DELISTED
BLACKROCK MUNICIPAL BOND INVESTMENT TRUST
BIE
$361K ﹤0.01%
26,188
-10,363
-28% -$139K
SEB icon
338
Seaboard Corp
SEB
$4.11B
$357K ﹤0.01%
130
– –
TEVA icon
339
Teva Pharmaceuticals
TEVA
$45.7B
$357K ﹤0.01%
+9,460
New +$369K
TSLA icon
340
Tesla
TSLA
$1.41T
$357K ﹤0.01%
+27,660
New +$274K
CERN
341
DELISTED
Cerner Corp
CERN
$357K ﹤0.01%
+6,789
New +$331K
PMM
342
Franklin Managed Municipal Income Trust
PMM
$248M
$356K ﹤0.01%
51,993
-75
-0.1% -$508
CRR
343
DELISTED
Carbo Ceramics Inc.
CRR
$356K ﹤0.01%
3,597
-100
-3% -$8.5K
PFL
344
PIMCO Income Strategy Fund
PFL
$357M
$355K ﹤0.01%
30,700
-465,256
-94% -$5.36M
RIG icon
345
Transocean
RIG
$6.63B
$355K ﹤0.01%
+7,977
New +$377K
NBO
346
DELISTED
Neuberger Berman New York Municipal Fund Inc.
NBO
$355K ﹤0.01%
27,378
-135
-0.5% -$1.74K
TAL
347
DELISTED
TAL INTERNATIONAL GROUP, INC.
TAL
$353K ﹤0.01%
+7,556
New +$326K
GRMN
348
Garmin
GRMN
$53.8B
$351K ﹤0.01%
+7,760
New +$308K
WNR
349
DELISTED
Western Refining Inc
WNR
$350K ﹤0.01%
+11,649
New +$342K
HRG
350
DELISTED
HRG Group, Inc.
HRG
$350K ﹤0.01%
+33,712
New +$298K
12 13
14
15 16

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PWM
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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.