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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
+4.39%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$8B
AUM Growth
+$3.92M
Cap. Flow
-$424M
Cap. Flow %
-5.3%
Top 10 Hldgs %
46.74%
Holding
554
New
21
Increased
146
Reduced
266
Closed
24

Top Buys

Rank Stock Value
1
ESI icon
Element Solutions
ESI
+$46.1M
2
LE icon
Lands' End
LE
+$38.8M
3
TPH
Tri Pointe Homes
TPH
+$33.3M
4
IEP icon
Icahn Enterprises
IEP
+$10.2M
5
BRP
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
+$5.78M

Top Sells

Rank Stock Value
1
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$128M
2
JEF icon
Jefferies Financial Group
JEF
+$42.3M
3
SHLD
Sears Holding Corporation
SHLD
+$21.3M
4
RSE
ROUSE PPTYS INC COM (DE)
RSE
+$21.3M
5
ASCMA
Ascent Capital Group, Inc. Series A
ASCMA
+$20.7M

Sector Composition

Rank Sector Weight
1 Communication Services 25.48%
2 Consumer Discretionary 21.59%
3 Real Estate 13.75%
4 Financials 10.84%
5 Energy 10.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRR
426
DELISTED
Carbo Ceramics Inc.
CRR
$430K 0.01%
2,788
-50
-2% -$6.89K
DGX icon
427
Quest Diagnostics
DGX
$27.3B
$414K 0.01%
7,050
-800
-10% -$46.9K
TROW icon
428
T. Rowe Price
TROW
$22.2B
$414K 0.01%
4,906
– –
UPS icon
429
United Parcel Service
UPS
$87.1B
$409K 0.01%
3,988
– –
IIM icon
430
Invesco Value Municipal Income Trust
IIM
$559M
$401K 0.01%
26,765
-500
-2% -$7.51K
PML
431
PIMCO Municipal Income Fund II
PML
$453M
$373K ﹤0.01%
31,248
-25
-0.1% -$298
TCOM icon
432
Trip.com Group
TCOM
$24.7B
$371K ﹤0.01%
11,600
– –
RSP icon
433
Invesco S&P 500 Equal Weight ETF
RSP
$98.3B
$367K ﹤0.01%
4,784
– –
VECO icon
434
Veeco
VECO
$2.5B
$361K ﹤0.01%
9,700
+200
+2% +$7.14K
NVO
435
Novo Nordisk
NVO
$188B
$358K ﹤0.01%
15,480
– –
FIS icon
436
Fidelity National Information Services
FIS
$19.3B
$354K ﹤0.01%
6,461
– –
TAL
437
DELISTED
TAL INTERNATIONAL GROUP, INC.
TAL
$344K ﹤0.01%
7,744
+912
+13% +$39.7K
ACAS
438
DELISTED
American Capital Ltd
ACAS
$344K ﹤0.01%
22,495
+6,300
+39% +$94K
GM icon
439
General Motors
GM
$74.9B
$330K ﹤0.01%
+9,095
New +$317K
CPN
440
DELISTED
Calpine Corporation
CPN
$324K ﹤0.01%
13,598
-5,829
-30% -$132K
CSGP icon
441
CoStar Group
CSGP
$12.8B
$316K ﹤0.01%
20,000
– –
EOG icon
442
EOG Resources
EOG
$80.6B
$314K ﹤0.01%
2,687
-2,921
-52% -$307K
KTF
443
DWS Municipal Income Trust
KTF
$329M
$310K ﹤0.01%
22,760
– –
MKTX icon
444
MarketAxess Holdings
MKTX
$5.75B
$308K ﹤0.01%
5,700
– –
BHL
445
DELISTED
Blackrock Defined Opp Crt Tr
BHL
$304K ﹤0.01%
21,751
-718
-3% -$9.8K
COP icon
446
ConocoPhillips
COP
$170B
$296K ﹤0.01%
3,451
+100
+3% +$7.79K
MHN
447
DELISTED
BlackRock MuniHoldings New Yrok Quality Fund
MHN
$292K ﹤0.01%
21,190
+1,580
+8% +$21.6K
MRO
448
DELISTED
Marathon Oil Corporation
MRO
$291K ﹤0.01%
7,300
– –
PGNX
449
DELISTED
Progenics Pharmaceuticals Inc
PGNX
$290K ﹤0.01%
67,200
– –
NVG icon
450
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.43B
$289K ﹤0.01%
20,390
-680
-3% -$9.37K
16 17
18
19 20

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Horizon Kinetics's Q2 2014 Portfolio in Review

As of Q2 2014, Horizon Kinetics held 554 positions worth $8B, up 0.05% from $7.99B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Horizon Kinetics withdrew a net $424M in Q2 2014, closing 24 positions and reducing 266 holdings. Its most notable exit was Tata Motors Limited, an estimated $19.2M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 25% of assets, down from 26% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Horizon Kinetics opened a new position in Lands' End worth $45.9M.

  • Horizon Kinetics's largest Q2 2014 buy was Lands' End: 1,367,129 shares worth $45.9M.
  • Horizon Kinetics added most to Element Solutions in Q2 2014, an estimated $46.1M increase.
  • Horizon Kinetics's biggest Q2 2014 reduction was Liberty Interactive Corporation Series A Liberty Ventures, cutting an estimated $128M.
  • Horizon Kinetics fully exited Tata Motors Limited in Q2 2014, selling an estimated $19.2M.
  • Horizon Kinetics's ten largest holdings make up 47% of its $8B portfolio in Q2 2014.
  • Horizon Kinetics opened 21 new positions and closed 24 in Q2 2014.
  • Horizon Kinetics's portfolio value rose 0.05% quarter-over-quarter to $8B.

Based on Horizon Kinetics's 13F filing for Q2 2014, filed 14 Aug 2014.