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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
+8.02%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.26B
AUM Growth
-$147M
Cap. Flow
-$607M
Cap. Flow %
-8.37%
Top 10 Hldgs %
45.64%
Holding
547
New
27
Increased
111
Reduced
327
Closed
26

Top Buys

Rank Stock Value
1
LXU icon
LSB Industries
LXU
+$25M
2
LBRDK
Liberty Broadband Class C
LBRDK
+$22.4M
3
TPH
Tri Pointe Homes
TPH
+$11.6M
4
RGLD icon
Royal Gold
RGLD
+$11M
5
WBD icon
Warner Bros
WBD
+$2.7M

Top Sells

Rank Stock Value
1
BRP
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
+$98.4M
2
HHH icon
Howard Hughes
HHH
+$44.7M
3
FWONK icon
Liberty Media Series C
FWONK
+$29.3M
4
IEP icon
Icahn Enterprises
IEP
+$26.6M
5
ELS icon
Equity Lifestyle Properties
ELS
+$22.9M

Sector Composition

Rank Sector Weight
1 Communication Services 26.13%
2 Consumer Discretionary 22.18%
3 Real Estate 12.53%
4 Energy 9.59%
5 Financials 9.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FCT
376
DELISTED
First Trust Senior Floating Rate Income Fund II
FCT
$688K 0.01%
49,800
-2,500
-5% -$33.3K
ADI icon
377
Analog Devices
ADI
$181B
$687K 0.01%
10,905
– –
VB icon
378
Vanguard Morningstar Small-Cap ETF
VB
$82.2B
$684K 0.01%
5,579
+2,093
+60% +$248K
NPM
379
DELISTED
NUVEEN PREMIUM INCM MUNI FD II
NPM
$680K 0.01%
47,909
-19,068
-28% -$271K
ORCL icon
380
Oracle
ORCL
$438B
$669K 0.01%
15,504
-756
-5% -$32.8K
MCD icon
381
McDonald's
MCD
$184B
$625K 0.01%
6,413
-1,000
-13% -$94.9K
MWV
382
DELISTED
MEADWESTVACO CORP
MWV
$598K 0.01%
+12,000
New +$597K
TIME
383
DELISTED
Time Inc.
TIME
$581K 0.01%
25,880
-2,590
-9% -$62K
AB icon
384
AllianceBernstein
AB
$3.41B
$579K 0.01%
18,759
+372
+2% +$10.1K
DGX icon
385
Quest Diagnostics
DGX
$27B
$576K 0.01%
7,500
-150
-2% -$10.7K
CELG
386
DELISTED
Celgene Corp
CELG
$576K 0.01%
+5,000
New +$597K
APOL
387
DELISTED
Apollo Education Group Inc Class A
APOL
$575K 0.01%
30,365
+5,597
+23% +$148K
GM icon
388
General Motors
GM
$75.6B
$558K 0.01%
14,885
+2,135
+17% +$77.6K
VTN icon
389
Invesco Trust for Investment Grade New York Municipals
VTN
$158M
$558K 0.01%
40,458
-26,113
-39% -$361K
TREE icon
390
LendingTree
TREE
$397M
$551K 0.01%
9,833
– –
VRSK icon
391
Verisk Analytics
VRSK
$24.9B
$550K 0.01%
7,700
– –
IIJI
392
DELISTED
Internet Initiative Japan Inc
IIJI
$547K 0.01%
66,467
+6,912
+12% +$69.5K
IFF icon
393
International Flavors & Fragrances
IFF
$22.2B
$546K 0.01%
4,650
– –
CUB
394
DELISTED
Cubic Corporation
CUB
$542K 0.01%
10,469
-100
-0.9% -$5.24K
RAI
395
DELISTED
Reynolds American Inc
RAI
$531K 0.01%
15,400
-7,628
-33% -$267K
CRR
396
DELISTED
Carbo Ceramics Inc.
CRR
$527K 0.01%
17,288
+6,750
+64% +$237K
RTN
397
DELISTED
Raytheon Company
RTN
$519K 0.01%
4,750
-3,190
-40% -$343K
POT
398
DELISTED
Potash Corp Of Saskatchewan
POT
$513K 0.01%
15,900
– –
HIO
399
Western Asset High Income Opportunity Fund
HIO
$330M
$505K 0.01%
95,035
-4,610
-5% -$24.7K
NQM
400
DELISTED
NUVEEN INVESTMENT QLTY MUNI FD
NQM
$503K 0.01%
32,111
-2,674
-8% -$41.5K
14 15
16
17 18

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Horizon Kinetics's Q1 2015 Portfolio in Review

As of Q1 2015, Horizon Kinetics held 547 positions worth $7.26B, down 2% from $7.4B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Horizon Kinetics withdrew a net $607M in Q1 2015, closing 26 positions and reducing 327 holdings. Its most notable exit was BROOKFIELD RESIDENTIAL PROPERTIES INC, an estimated $98.4M position sold in full.

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

Against the trend, Horizon Kinetics opened a new position in LSB Industries worth $29.1M.

  • Horizon Kinetics's largest Q1 2015 buy was LSB Industries: 915,719 shares worth $29.1M.
  • Horizon Kinetics added most to Liberty Broadband Class C in Q1 2015, an estimated $22.4M increase.
  • Horizon Kinetics's biggest Q1 2015 reduction was Howard Hughes, cutting an estimated $44.7M.
  • Horizon Kinetics fully exited BROOKFIELD RESIDENTIAL PROPERTIES INC in Q1 2015, selling an estimated $98.4M.
  • Horizon Kinetics's ten largest holdings make up 46% of its $7.26B portfolio in Q1 2015.
  • Horizon Kinetics opened 27 new positions and closed 26 in Q1 2015.
  • Horizon Kinetics's portfolio value fell 2% quarter-over-quarter to $7.26B.

Based on Horizon Kinetics's 13F filing for Q1 2015, filed 15 May 2015.