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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
-$216M
Cap. Flow %
-2.7%
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 25.96%
2 Consumer Discretionary 19.99%
3 Real Estate 13.26%
4 Financials 10.66%
5 Energy 8.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TFX icon
376
Teleflex
TFX
$5.96B
$716K 0.01%
6,679
-50
-0.7% -$4.92K
PCN
377
PIMCO Corporate & Income Strategy Fund
PCN
$864M
$712K 0.01%
42,856
-43,080
-50% -$716K
NBH
378
Neuberger Municipal Fund Inc
NBH
$307M
$711K 0.01%
49,054
– –
MINT icon
379
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
MINT
$16.9B
$707K 0.01%
6,983
+989
+16% +$100K
XAA
380
DELISTED
AMERICAN MUNI INCM PTFL INC
XAA
$702K 0.01%
49,479
-1,205
-2% -$16.8K
NXZ
381
DELISTED
NUVEEN DIV ADV MUNI FD-2
NXZ
$695K 0.01%
51,446
-700
-1% -$9.42K
MYN icon
382
BlackRock MuniYield New York Quality Fund
MYN
$376M
$690K 0.01%
53,165
– –
PCYC
383
DELISTED
PHARMACYCLICS INC
PCYC
$688K 0.01%
6,864
+1,789
+35% +$233K
MCD icon
384
McDonald's
MCD
$193B
$687K 0.01%
7,013
-941
-12% -$90K
MQT
385
DELISTED
BlackRock MuniYield Quality Fund II
MQT
$663K 0.01%
53,041
-9,980
-16% -$123K
RAI
386
DELISTED
Reynolds American Inc
RAI
$652K 0.01%
24,428
– –
NMA
387
DELISTED
NUVEEN MUNI ADVANTAGE FUND
NMA
$648K 0.01%
49,951
– –
MHFI
388
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
$633K 0.01%
8,297
-424
-5% -$33.2K
PTY icon
389
PIMCO Corporate & Income Opportunity Fund
PTY
$2.46B
$632K 0.01%
34,974
-4,049
-10% -$74.1K
NMZ icon
390
Nuveen Municipal High Income Opportunity Fund
NMZ
$2.2B
$616K 0.01%
48,447
-4,852
-9% -$60.9K
ORCL icon
391
Oracle
ORCL
$339B
$616K 0.01%
15,047
+6,346
+73% +$242K
POT
392
DELISTED
Potash Corp Of Saskatchewan
POT
$567K 0.01%
15,650
+500
+3% +$16.8K
ADI icon
393
Analog Devices
ADI
$172B
$553K 0.01%
10,405
+100
+1% +$5.04K
MNKD icon
394
MannKind Corp
MNKD
$1.19B
$541K 0.01%
26,899
+5,657
+27% +$161K
EVY
395
DELISTED
Eaton Vance New York Municipal Income Trust
EVY
$535K 0.01%
38,950
– –
CUB
396
DELISTED
Cubic Corporation
CUB
$512K 0.01%
10,019
– –
VMI icon
397
Valmont Industries
VMI
$8.81B
$506K 0.01%
3,400
-100
-3% -$14.8K
IQI icon
398
Invesco Quality Municipal Securities
IQI
$526M
$498K 0.01%
42,203
-285
-0.7% -$3.33K
ENX
399
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$490K 0.01%
40,890
– –
BGC icon
400
BGC Group
BGC
$5.64B
$489K 0.01%
116,356
-9,999
-8% -$42.5K
14 15
16
17 18

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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's Q1 2014 filing shows 27 new, 223 increased, 183 reduced and 26 closed positions. Its largest new stake was Element Solutions: 3,553,037 shares worth $67.7M. The largest sale was Mastercard, an estimated $242M.

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.

  • 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.