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Horizon Kinetics Portfolio holdings
AUM
$3.06B
Turnover
11.22%
1-Year Est. Return
5.37%
This Fund
S&P 500
This Quarter
Est. Return
-12.27%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$5.51B
AUM Growth
-$1.44B
(-21%)
Cap. Flow
-$1.12B
Cap. Flow
% of AUM
-20.39%
Top 10 Holdings %
Top 10 Hldgs %
47.53%
Holding
537
New
22
Increased
90
Reduced
325
Closed
33
Avg Time Held Equity + Options
1.8
years
Top 10 Avg Time Held Equity + Options
1.5
years
Top 20 Avg Time Held Equity + Options
1.6
years
Avg Time Held Equity only
1.8
years
Top 10 Avg Time Held Equity only
1.7
years
Top 20 Avg Time Held Equity only
1.7
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wheaton Precious Metals
WPM
|
+$24.5M |
| 2 |
EMG
Emergent Capital, Inc.
EMG
|
+$11.7M |
| 3 |
PayPal
PYPL
|
+$7.36M |
| 4 |
LSB Industries
LXU
|
+$7.07M |
| 5 |
Texas Pacific Land
TPL
|
+$6.76M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JAH
JARDEN CORPORATION
JAH
|
+$165M |
| 2 |
Wendy's
WEN
|
+$110M |
| 3 |
AutoNation
AN
|
+$64.5M |
| 4 |
Brookfield
BN
|
+$59.7M |
| 5 |
Howard Hughes
HHH
|
+$42.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 24.89% |
| 2 | Consumer Discretionary | 18.26% |
| 3 | Miscellaneous | 15.56% |
| 4 | Real Estate | 10.95% |
| 5 | Energy | 9.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
351
MasTec
MTZ
$15.4B
| $642K | 0.01% |
40,553
-2,634
| -6% | -$45.9K |
2014 Q1
6 quarters
|
|
352
Seritage Growth Properties
SRG
$92.9M
| $639K | 0.01% |
+17,157
| New | +$680K |
2015 Q3
0 quarters
|
|
353
Nasdaq
NDAQ
$52.3B
| $636K | 0.01% |
35,790
-28,065
| -44% | -$481K |
2013 Q2
9 quarters
|
|
354
The Gap Inc
GAP
$8.24B
| $634K | 0.01% |
22,238
-1,435
| -6% | -$49.4K |
2013 Q3
8 quarters
|
|
|
SCTY
355
DELISTED
SolarCity Corporation
SCTY
| $634K | 0.01% |
14,851
-1,238
| -8% | -$62.2K |
2014 Q4
3 quarters
|
|
356
Bank of America
BAC
$362B
| $626K | 0.01% |
40,157
+10,437
| +35% | +$176K |
2013 Q2
9 quarters
|
|
357
Teleflex
TFX
$5.43B
| $623K | 0.01% |
5,017
-65
| -1% | -$8.69K |
2013 Q2
9 quarters
|
|
358
Metallus
MTUS
$846M
| $622K | 0.01% |
61,459
+29,438
| +92% | +$532K |
2014 Q3
4 quarters
|
|
359
Archrock
AROC
$5.13B
| $621K | 0.01% |
34,473
+6,783
| +24% | +$162K |
2014 Q2
5 quarters
|
|
360
Analog Devices
ADI
$196B
| $615K | 0.01% |
10,905
| – | – |
2013 Q2
9 quarters
|
|
361
RPC Inc
RES
$1.31B
| $604K | 0.01% |
68,211
+3,082
| +5% | +$35.2K |
2013 Q3
8 quarters
|
|
362
W.P. Carey
WPC
$14.7B
| $601K | 0.01% |
10,618
+3,165
| +42% | +$184K |
2014 Q1
6 quarters
|
|
363
Oracle
ORCL
$408B
| $600K | 0.01% |
16,603
-1,738
| -9% | -$66.8K |
2013 Q4
7 quarters
|
|
|
NAV
364
DELISTED
Navistar International
NAV
| $600K | 0.01% |
47,188
+7,439
| +19% | +$131K |
2013 Q3
8 quarters
|
|
365
W&T Offshore
WTI
$552M
| $598K | 0.01% |
199,236
+33,851
| +20% | +$126K |
2013 Q3
8 quarters
|
|
|
RAX
366
DELISTED
Rackspace Hosting Inc
RAX
| $596K | 0.01% |
24,159
-141
| -0.6% | -$4.54K |
2013 Q3
8 quarters
|
|
367
Enterprise Products Partners
EPD
$76.8B
| $594K | 0.01% |
23,839
+1,200
| +5% | +$33.3K |
2013 Q2
9 quarters
|
|
368
General Motors
GM
$73.4B
| $594K | 0.01% |
19,785
+2,150
| +12% | +$65.9K |
2014 Q2
5 quarters
|
|
369
Vanguard High Dividend Yield ETF
VYM
$81.4B
| $581K | 0.01% |
9,266
-533
| -5% | -$35.1K |
2014 Q4
3 quarters
|
|
370
XPO
XPO
$22.1B
| $572K | 0.01% |
69,367
+12,788
| +23% | +$168K |
2014 Q1
6 quarters
|
|
|
IIJI
371
DELISTED
Internet Initiative Japan Inc
IIJI
| $568K | 0.01% |
64,361
-4,674
| -7% | -$42.9K |
2013 Q2
9 quarters
|
|
372
DELISTED
Cubic Corporation
CUB
| $563K | 0.01% |
13,419
+2,250
| +20% | +$97.4K |
2013 Q2
9 quarters
|
|
373
Verisk Analytics
VRSK
$24.4B
| $562K | 0.01% |
7,600
| – | – |
2013 Q2
9 quarters
|
|
374
Invesco Trust for Investment Grade New York Municipals
VTN
$142M
| $558K | 0.01% |
40,458
| – | – |
2013 Q2
9 quarters
|
|
|
CWEI
375
DELISTED
Clayton Williams Energy, Inc.
CWEI
| $556K | 0.01% |
14,323
+672
| +5% | +$29.5K |
2014 Q4
3 quarters
|
|
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Horizon Kinetics's Q3 2015 Portfolio in Review
As of Q3 2015, Horizon Kinetics held 537 positions worth $5.51B, down 21% from $6.95B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Horizon Kinetics withdrew a net $1.12B in Q3 2015, closing 33 positions and reducing 325 holdings. Its most notable exit was CSX Corp, an estimated $22.4M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 25% of assets, down from 28% a quarter earlier, followed by Consumer Discretionary and Miscellaneous.
Against the trend, Horizon Kinetics opened a new position in Emergent Capital, Inc. worth $12M.
- Horizon Kinetics's largest Q3 2015 buy was Emergent Capital, Inc.: 2,199,813 shares worth $12M.
- Horizon Kinetics added most to Wheaton Precious Metals in Q3 2015, an estimated $24.5M increase.
- Horizon Kinetics's biggest Q3 2015 reduction was JARDEN CORPORATION, cutting an estimated $165M.
- Horizon Kinetics fully exited CSX Corp in Q3 2015, selling an estimated $22.4M.
- Horizon Kinetics's ten largest holdings make up 48% of its $5.51B portfolio in Q3 2015.
- Horizon Kinetics opened 22 new positions and closed 33 in Q3 2015.
- Horizon Kinetics's portfolio value fell 21% quarter-over-quarter to $5.51B.
Based on Horizon Kinetics's 13F filing for Q3 2015, filed 13 Nov 2015.