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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 | |
|---|---|---|---|---|---|---|
326
Franklin Templeton
BEN
$16.9B
| $848K | 0.01% |
15,307
+235
| +2% | +$13K |
|
327
Under Armour
UAA
$2.13B
| $847K | 0.01% |
24,954
+312
| +1% | +$10.5K |
|
328
Rollins
ROL
$16.2B
| $846K | 0.01% |
86,231
-8,748
| -9% | -$81.7K |
|
|
CERN
329
DELISTED
Cerner Corp
CERN
| $846K | 0.01% |
13,085
-1,008
| -7% | -$62.7K |
|
|
GRMN
330
Garmin
GRMN
$53.8B
| $845K | 0.01% |
15,989
-255
| -2% | -$13.9K |
|
331
Huntsman Corp
HUN
$1.62B
| $845K | 0.01% |
37,113
+6,640
| +22% | +$161K |
|
|
APOL
332
DELISTED
Apollo Education Group Inc Class A
APOL
| $845K | 0.01% |
24,768
-7,711
| -24% | -$227K |
|
333
Host Hotels & Resorts
HST
$15.2B
| $844K | 0.01% |
35,497
-3,405
| -9% | -$77.5K |
|
334
Hilltop Holdings
HTH
$2.23B
| $844K | 0.01% |
42,321
+1,575
| +4% | +$32.4K |
|
|
NUAN
335
DELISTED
Nuance Communications, Inc.
NUAN
| $844K | 0.01% |
68,280
+6,225
| +10% | +$79.9K |
|
336
Brown-Forman Class B
BF.B
$12B
| $843K | 0.01% |
29,984
+1,478
| +5% | +$42.8K |
|
337
Credit Acceptance
CACC
$6.23B
| $843K | 0.01% |
6,183
-427
| -6% | -$60.3K |
|
338
Columbia Sportswear
COLM
$2.89B
| $843K | 0.01% |
18,916
-3,418
| -15% | -$139K |
|
339
First Citizens BancShares
FCNCA
$24.4B
| $843K | 0.01% |
3,335
-494
| -13% | -$120K |
|
340
Salesforce
CRM
$210B
| $842K | 0.01% |
14,193
-310
| -2% | -$18.3K |
|
|
RP
341
DELISTED
RealPage, Inc.
RP
| $842K | 0.01% |
38,361
-15,448
| -29% | -$306K |
|
|
ARG
342
DELISTED
Airgas Inc
ARG
| $841K | 0.01% |
7,303
-62
| -0.8% | -$6.98K |
|
343
Morningstar
MORN
$7.57B
| $840K | 0.01% |
12,985
+821
| +7% | +$54.4K |
|
344
Boston Beer
SAM
$1.76B
| $840K | 0.01% |
2,902
-889
| -23% | -$225K |
|
|
NATI
345
DELISTED
National Instruments Corp
NATI
| $840K | 0.01% |
27,005
+607
| +2% | +$18.8K |
|
346
W.W. Grainger
GWW
$59.8B
| $839K | 0.01% |
3,292
+13
| +0.4% | +$3.21K |
|
|
HOLX
347
DELISTED
Hologic
HOLX
| $839K | 0.01% |
31,389
-2,426
| -7% | -$62.6K |
|
348
Silgan Holdings
SLGN
$4.06B
| $839K | 0.01% |
31,294
-3,514
| -10% | -$88.2K |
|
349
Cintas
CTAS
$79.6B
| $837K | 0.01% |
42,704
-6,924
| -14% | -$125K |
|
|
SYNT
350
DELISTED
Syntel Inc
SYNT
| $837K | 0.01% |
18,618
-414
| -2% | -$18.2K |
|
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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.