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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 | |
|---|---|---|---|---|---|---|---|
376
Nuveen Floating Rate Income Fund
JFR
$1.18B
| $554K | 0.01% |
55,107
-77,565
| -58% | -$812K |
2013 Q2
9 quarters
|
|
377
McDonald's
MCD
$172B
| $554K | 0.01% |
5,626
-787
| -12% | -$76.7K |
2013 Q2
9 quarters
|
|
378
Halozyme
HALO
$13.8B
| $543K | 0.01% |
40,441
-1,646
| -4% | -$33K |
2013 Q3
8 quarters
|
|
|
AKRX
379
DELISTED
Akorn Inc
AKRX
| $538K | 0.01% |
18,866
-419
| -2% | -$17.3K |
2014 Q1
6 quarters
|
|
380
MarketAxess Holdings
MKTX
$5.79B
| $529K | 0.01% |
5,700
| – | – |
2013 Q2
9 quarters
|
|
381
Seaboard Corp
SEB
$3.8B
| $524K | 0.01% |
170
-60
| -26% | -$200K |
2013 Q2
9 quarters
|
|
382
Freeport-McMoran
FCX
$101B
| $517K | 0.01% |
53,350
-5,000
| -9% | -$60K |
2013 Q3
8 quarters
|
|
383
Procter & Gamble
PG
$365B
| $493K | 0.01% |
6,847
+1,326
| +24% | +$99.4K |
2013 Q2
9 quarters
|
|
384
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
MINT
$18.6B
| $486K | 0.01% |
4,816
| – | – |
2013 Q2
9 quarters
|
|
|
MTS
385
DELISTED
MONTGOMERY STR INCOME SECS
MTS
| $483K | 0.01% |
27,733
-915
| -3% | -$15.5K |
2013 Q2
9 quarters
|
|
386
Cincinnati Financial
CINF
$25.7B
| $482K | 0.01% |
8,953
-200
| -2% | -$10.7K |
2013 Q2
9 quarters
|
|
|
MHFI
387
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $482K | 0.01% |
5,572
-1,480
| -21% | -$146K |
2013 Q2
9 quarters
|
|
388
DELISTED
WestRock Company
WRK
| $481K | 0.01% |
+10,389
| New | +$557K |
2015 Q3
0 quarters
|
|
389
International Flavors & Fragrances
IFF
$23B
| $480K | 0.01% |
4,650
| – | – |
2013 Q2
9 quarters
|
|
|
NQM
390
DELISTED
NUVEEN INVESTMENT QLTY MUNI FD
NQM
| $474K | 0.01% |
31,988
-123
| -0.4% | -$1.81K |
2014 Q3
4 quarters
|
|
391
Western Asset Inflation-Linked Income Fund
WIA
$178M
| $470K | 0.01% |
44,512
-1,457
| -3% | -$15.9K |
2015 Q1
2 quarters
|
|
392
Quest Diagnostics
DGX
$26.4B
| $464K | 0.01% |
7,550
| – | – |
2013 Q2
9 quarters
|
|
393
Huntsman Corp
HUN
$1.5B
| $464K | 0.01% |
47,916
+7,986
| +20% | +$137K |
2013 Q3
8 quarters
|
|
394
Baxter International
BAX
$13.3B
| $459K | 0.01% |
13,972
-10,002
| -42% | -$379K |
2013 Q2
9 quarters
|
|
395
DELISTED
Time Inc.
TIME
| $454K | 0.01% |
23,801
-1,874
| -7% | -$39.6K |
2014 Q2
5 quarters
|
|
396
Norfolk Southern
NSC
$73B
| $453K | 0.01% |
5,929
-118,091
| -95% | -$9.6M |
2013 Q2
9 quarters
|
|
397
Western Asset High Income Opportunity Fund
HIO
$313M
| $446K | 0.01% |
95,035
| – | – |
2013 Q2
9 quarters
|
|
|
NXEO
398
DELISTED
Nexeo Solutions, Inc. Common Stock
NXEO
| $434K | 0.01% |
41,860
-298
| -0.7% | -$3.08K |
2015 Q2
1 quarter
|
|
|
JMG
399
DELISTED
JOURNAL MEDIA GROUP INC COM
JMG
| $427K | 0.01% |
56,913
-829
| -1% | -$6.14K |
2015 Q2
1 quarter
|
|
400
Novo Nordisk
NVO
$173B
| $425K | 0.01% |
15,654
+174
| +1% | +$4.93K |
2013 Q2
9 quarters
|
|
Similar funds
SA
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TGA
PWM
APFBOT
RCM
CFIC
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.