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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
NQI
426
DELISTED
NUVEEN QUALITY MUNICIPAL FUND INC
NQI
$392K ﹤0.01%
30,755
-1,530
-5% -$19.3K
UPS icon
427
United Parcel Service
UPS
$88.9B
$388K ﹤0.01%
3,988
-55
-1% -$5.36K
EVM
428
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$382K ﹤0.01%
35,168
– –
CSGP icon
429
CoStar Group
CSGP
$12.2B
$373K ﹤0.01%
20,000
– –
PML
430
PIMCO Municipal Income Fund II
PML
$487M
$362K ﹤0.01%
31,273
– –
NVO
431
Novo Nordisk
NVO
$228B
$353K ﹤0.01%
15,480
-61,920
-80% -$1.32M
RSP icon
432
Invesco S&P 500 Equal Weight ETF
RSP
$97.3B
$349K ﹤0.01%
4,784
+668
+16% +$47.6K
FIS icon
433
Fidelity National Information Services
FIS
$24.2B
$345K ﹤0.01%
6,461
-200
-3% -$10.7K
VCSH icon
434
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.7B
$344K ﹤0.01%
+4,302
New +$344K
WPC icon
435
W.P. Carey
WPC
$17B
$342K ﹤0.01%
+5,820
New +$352K
SEB icon
436
Seaboard Corp
SEB
$4.39B
$341K ﹤0.01%
130
– –
MKTX icon
437
MarketAxess Holdings
MKTX
$4.47B
$338K ﹤0.01%
5,700
– –
BAX icon
438
Baxter International
BAX
$12.8B
$314K ﹤0.01%
7,865
– –
BIE
439
DELISTED
BLACKROCK MUNICIPAL BOND INVESTMENT TRUST
BIE
$312K ﹤0.01%
21,974
-2,105
-9% -$29.2K
BHL
440
DELISTED
Blackrock Defined Opp Crt Tr
BHL
$310K ﹤0.01%
22,469
-1,413
-6% -$19.5K
TREE icon
441
LendingTree
TREE
$551M
$305K ﹤0.01%
9,833
– –
KTF
442
DWS Municipal Income Trust
KTF
$345M
$297K ﹤0.01%
22,760
– –
AYN
443
DELISTED
Alliance New York Income Fund
AYN
$296K ﹤0.01%
23,676
– –
TAL
444
DELISTED
TAL INTERNATIONAL GROUP, INC.
TAL
$293K ﹤0.01%
6,832
-911
-12% -$40.5K
TCOM icon
445
Trip.com Group
TCOM
$29B
$292K ﹤0.01%
11,600
– –
JMT
446
DELISTED
Nuveen Mortgage Opportunity Term Fund 2
JMT
$291K ﹤0.01%
12,445
– –
JTP
447
DELISTED
NUVEEN QUALITY PFD INCOME FD
JTP
$291K ﹤0.01%
36,150
-2,668
-7% -$21.1K
TRF
448
DELISTED
TEMPLETON RUSSIA & EAST EURO FD
TRF
$288K ﹤0.01%
+21,897
New +$301K
ARNA
449
DELISTED
Arena Pharmaceuticals Inc
ARNA
$284K ﹤0.01%
4,500
– –
NVG icon
450
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.67B
$281K ﹤0.01%
21,070
-700
-3% -$9.18K
16 17
18
19 20

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MFG
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PWM
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APFBOT
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RCM
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CFIC
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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.