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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
+4.39%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$8B
AUM Growth
+$3.92M
Cap. Flow
-$424M
Cap. Flow %
-5.3%
Top 10 Hldgs %
46.74%
Holding
554
New
21
Increased
146
Reduced
266
Closed
24

Top Buys

Rank Stock Value
1
ESI icon
Element Solutions
ESI
+$46.1M
2
LE icon
Lands' End
LE
+$38.8M
3
TPH
Tri Pointe Homes
TPH
+$33.3M
4
IEP icon
Icahn Enterprises
IEP
+$10.2M
5
BRP
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
+$5.78M

Top Sells

Rank Stock Value
1
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$128M
2
JEF icon
Jefferies Financial Group
JEF
+$42.3M
3
SHLD
Sears Holding Corporation
SHLD
+$21.3M
4
RSE
ROUSE PPTYS INC COM (DE)
RSE
+$21.3M
5
ASCMA
Ascent Capital Group, Inc. Series A
ASCMA
+$20.7M

Sector Composition

Rank Sector Weight
1 Communication Services 25.48%
2 Consumer Discretionary 21.59%
3 Real Estate 13.75%
4 Financials 10.84%
5 Energy 10.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HTLD icon
351
Heartland Express
HTLD
$968M
$776K 0.01%
36,385
+1,373
+4% +$29.7K
COLM icon
352
Columbia Sportswear
COLM
$2.89B
$775K 0.01%
18,752
-392
-2% -$16.4K
GWW icon
353
W.W. Grainger
GWW
$59.8B
$773K 0.01%
3,040
-70
-2% -$17.9K
TLM
354
DELISTED
TALISMAN ENERGY INC
TLM
$773K 0.01%
72,946
-5,409
-7% -$56.5K
RIG icon
355
Transocean
RIG
$6.63B
$772K 0.01%
17,135
-2,949
-15% -$125K
BRCM
356
DELISTED
BROADCOM CORP CL-A
BRCM
$772K 0.01%
20,798
-3,889
-16% -$127K
MSFT icon
357
Microsoft
MSFT
$3.69T
$771K 0.01%
18,480
-139
-0.7% -$5.63K
WPG
358
DELISTED
Washington Prime Group Inc.
WPG
$770K 0.01%
+4,564
New +$794K
BKE icon
359
Buckle
BKE
$2.04B
$766K 0.01%
17,258
+807
+5% +$36.9K
FCNCA icon
360
First Citizens BancShares
FCNCA
$24.4B
$766K 0.01%
3,128
-159
-5% -$37.1K
MRVL icon
361
Marvell Technology
MRVL
$199B
$766K 0.01%
53,484
+4,319
+9% +$66.5K
LYB icon
362
LyondellBasell Industries
LYB
$21.1B
$763K 0.01%
7,818
-897
-10% -$85.4K
MNST icon
363
Monster Beverage
MNST
$87.4B
$763K 0.01%
128,928
-9,168
-7% -$52.3K
HRG
364
DELISTED
HRG Group, Inc.
HRG
$763K 0.01%
60,053
-3,109
-5% -$37.3K
HALO icon
365
Halozyme
HALO
$12.1B
$762K 0.01%
77,159
+14,509
+23% +$123K
BWP
366
DELISTED
Boardwalk Pipeline Partners
BWP
$761K 0.01%
41,110
-89,545
-69% -$1.46M
AEO icon
367
American Eagle Outfitters
AEO
$2.48B
$760K 0.01%
67,703
+6,726
+11% +$76.4K
NBH
368
Neuberger Municipal Fund Inc
NBH
$283M
$758K 0.01%
49,245
+191
+0.4% +$2.88K
NUAN
369
DELISTED
Nuance Communications, Inc.
NUAN
$758K 0.01%
46,624
-7,161
-13% -$104K
NIO
370
DELISTED
NUVEEN MUNICIPAL OPPORTUNITY FUND INC
NIO
$757K 0.01%
53,628
-742
-1% -$10.4K
HIO
371
Western Asset High Income Opportunity Fund
HIO
$323M
$749K 0.01%
122,796
-23,894
-16% -$145K
FCT
372
DELISTED
First Trust Senior Floating Rate Income Fund II
FCT
$747K 0.01%
52,300
– –
SPSB icon
373
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$11.3B
$739K 0.01%
24,000
– –
NQU
374
DELISTED
NUVEEN QUALITY INCOME MUNI FD
NQU
$733K 0.01%
53,421
-4,760
-8% -$65K
RAI
375
DELISTED
Reynolds American Inc
RAI
$725K 0.01%
24,028
-400
-2% -$11.5K
13 14
15
16 17

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Horizon Kinetics's Q2 2014 Portfolio in Review

As of Q2 2014, Horizon Kinetics held 554 positions worth $8B, up 0.05% from $7.99B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Horizon Kinetics withdrew a net $424M in Q2 2014, closing 24 positions and reducing 266 holdings. Its most notable exit was Tata Motors Limited, an estimated $19.2M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 25% of assets, down from 26% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Horizon Kinetics opened a new position in Lands' End worth $45.9M.

  • Horizon Kinetics's largest Q2 2014 buy was Lands' End: 1,367,129 shares worth $45.9M.
  • Horizon Kinetics added most to Element Solutions in Q2 2014, an estimated $46.1M increase.
  • Horizon Kinetics's biggest Q2 2014 reduction was Liberty Interactive Corporation Series A Liberty Ventures, cutting an estimated $128M.
  • Horizon Kinetics fully exited Tata Motors Limited in Q2 2014, selling an estimated $19.2M.
  • Horizon Kinetics's ten largest holdings make up 47% of its $8B portfolio in Q2 2014.
  • Horizon Kinetics opened 21 new positions and closed 24 in Q2 2014.
  • Horizon Kinetics's portfolio value rose 0.05% quarter-over-quarter to $8B.

Based on Horizon Kinetics's 13F filing for Q2 2014, filed 14 Aug 2014.