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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
WTM icon
401
White Mountains Insurance
WTM
$5.08B
$498K 0.01%
728
– –
CINF icon
402
Cincinnati Financial
CINF
$26.5B
$488K 0.01%
9,153
-100
-1% -$5.24K
MUX icon
403
McEwen Inc
MUX
$1.33B
$488K 0.01%
47,793
-2,163
-4% -$24.2K
MINT icon
404
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
MINT
$17.4B
$487K 0.01%
4,816
-598
-11% -$60.5K
WPC icon
405
W.P. Carey
WPC
$16B
$486K 0.01%
7,300
-2,042
-22% -$140K
KMB icon
406
Kimberly-Clark
KMB
$36.6B
$479K 0.01%
4,474
– –
QCOM icon
407
Qualcomm
QCOM
$176B
$476K 0.01%
6,865
-14,258
-67% -$1M
MKTX icon
408
MarketAxess Holdings
MKTX
$5.72B
$473K 0.01%
5,700
– –
PCN
409
PIMCO Corporate & Income Strategy Fund
PCN
$880M
$455K 0.01%
29,525
-600
-2% -$9.21K
VYM icon
410
Vanguard High Dividend Yield ETF
VYM
$82.9B
$455K 0.01%
6,668
+3,676
+123% +$253K
VMI icon
411
Valmont Industries
VMI
$9.28B
$436K 0.01%
3,550
+100
+3% +$12.3K
QQQ icon
412
Invesco QQQ Trust
QQQ
$493B
$430K 0.01%
4,075
-6,150
-60% -$646K
VSTO
413
DELISTED
Vista Outdoor Inc.
VSTO
$430K 0.01%
+10,049
New +$427K
BAC icon
414
Bank of America
BAC
$428B
$426K 0.01%
27,657
-719,278
-96% -$11.6M
SAN icon
415
Banco Santander
SAN
$212B
$419K 0.01%
59,308
+8,999
+18% +$60.9K
BSE
416
DELISTED
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST
BSE
$416K 0.01%
30,957
-2,100
-6% -$28.3K
EVN
417
Eaton Vance Municipal Income Trust
EVN
$427M
$413K 0.01%
29,772
-10,000
-25% -$136K
FIS icon
418
Fidelity National Information Services
FIS
$20.9B
$413K 0.01%
6,061
-300
-5% -$19.6K
NVO
419
Novo Nordisk
NVO
$205B
$413K 0.01%
15,480
-334
-2% -$7.69K
PGNX
420
DELISTED
Progenics Pharmaceuticals Inc
PGNX
$402K 0.01%
67,200
– –
GPC icon
421
Genuine Parts
GPC
$18.8B
$400K 0.01%
4,295
-450
-9% -$43.4K
CSGP icon
422
CoStar Group
CSGP
$12.7B
$396K 0.01%
20,000
– –
DIA icon
423
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$46B
$391K 0.01%
2,200
-800
-27% -$142K
PTY icon
424
PIMCO Corporate & Income Opportunity Fund
PTY
$2.5B
$387K 0.01%
24,514
-7,400
-23% -$120K
BWP
425
DELISTED
Boardwalk Pipeline Partners
BWP
$385K 0.01%
23,937
-12,183
-34% -$196K
15 16
17
18 19

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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.