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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 | |
|---|---|---|---|---|---|---|---|
426
PIMCO Corporate & Income Opportunity Fund
PTY
$2.4B
| $316K | 0.01% |
23,806
-508
| -2% | -$7.05K |
2013 Q2
9 quarters
|
|
|
NPM
427
DELISTED
NUVEEN PREMIUM INCM MUNI FD II
NPM
| $316K | 0.01% |
23,118
-18,491
| -44% | -$249K |
2013 Q2
9 quarters
|
|
|
CRR
428
DELISTED
Carbo Ceramics Inc.
CRR
| $309K | 0.01% |
16,288
+2,450
| +18% | +$71.3K |
2013 Q2
9 quarters
|
|
429
Invesco Municipal Income Opportunities Trust
OIA
$276M
| $306K | 0.01% |
45,218
-2,210
| -5% | -$14.8K |
2013 Q2
9 quarters
|
|
430
iShares Core MSCI EAFE ETF
IEFA
$190B
| $302K | 0.01% |
5,720
-2,488
| -30% | -$141K |
2015 Q2
1 quarter
|
|
431
Masco
MAS
$14.3B
| $302K | 0.01% |
12,000
-1,656
| -12% | -$42.5K |
2015 Q1
2 quarters
|
|
432
T. Rowe Price
TROW
$21.6B
| $299K | 0.01% |
4,300
| – | – |
2013 Q2
9 quarters
|
|
433
BlackRock MuniYield New York Quality Fund
MYN
$834M
| $297K | 0.01% |
22,706
-1,700
| -7% | -$22.2K |
2013 Q2
9 quarters
|
|
|
NPI
434
DELISTED
NUVEEN PREMIUN INC MUN FUND
NPI
| $295K | 0.01% |
22,038
-2,463
| -10% | -$32.6K |
2013 Q2
9 quarters
|
|
435
Valmont Industries
VMI
$8.71B
| $292K | 0.01% |
3,075
+25
| +0.8% | +$2.73K |
2013 Q2
9 quarters
|
|
436
Celldex Therapeutics
CLDX
$2.27B
| $277K | 0.01% |
1,756
| – | – |
2013 Q2
9 quarters
|
|
|
ENX
437
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
| $274K | 0.01% |
21,747
-5,047
| -19% | -$62.9K |
2013 Q2
9 quarters
|
|
438
iShares 1-3 Year Treasury Bond ETF
SHY
$26.8B
| $265K | ﹤0.01% |
3,120
| – | – |
2013 Q2
9 quarters
|
|
439
DELISTED
Real Industry, Inc.
RELY
| $258K | ﹤0.01% |
29,287
| – | – |
2015 Q2
1 quarter
|
|
440
Invesco Quality Municipal Securities
IQI
$470M
| $249K | ﹤0.01% |
20,509
-661
| -3% | -$7.88K |
2013 Q2
9 quarters
|
|
441
Invesco S&P Spin-Off ETF
CSD
$211M
| $245K | ﹤0.01% |
6,414
-11
| -0.2% | -$471 |
2015 Q1
2 quarters
|
|
442
AT&T
T
$161B
| $241K | ﹤0.01% |
9,807
+343
| +4% | +$8.75K |
2013 Q4
7 quarters
|
|
443
Ares Capital
ARCC
$13.6B
| $234K | ﹤0.01% |
16,175
-1,896
| -10% | -$29.8K |
2015 Q2
1 quarter
|
|
444
Delta Air Lines
DAL
$51.4B
| $233K | ﹤0.01% |
5,200
| – | – |
2015 Q2
1 quarter
|
|
|
NBO
445
DELISTED
Neuberger Berman New York Municipal Fund Inc.
NBO
| $233K | ﹤0.01% |
17,065
| – | – |
2013 Q2
9 quarters
|
|
446
BWX Technologies
BWXT
$12.6B
| $231K | ﹤0.01% |
+8,764
| New | +$224K |
2015 Q3
0 quarters
|
|
447
Vanguard Morningstar Mid-Cap ETF
VO
$107B
| $228K | ﹤0.01% |
7,804
| – | – |
2014 Q4
3 quarters
|
|
|
DWA
448
PUT
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
| $223K | ﹤0.01% |
25,200
| – | – |
2015 Q1
2 quarters
|
|
449
General Mills
GIS
$17.6B
| $221K | ﹤0.01% |
3,934
-824
| -17% | -$47.2K |
2015 Q2
1 quarter
|
|
450
Nuveen Municipal High Income Opportunity Fund
NMZ
$1.96B
| $221K | ﹤0.01% |
16,669
-242
| -1% | -$3.23K |
2013 Q2
9 quarters
|
|
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PWM
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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.