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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
RYAM icon
451
Rayonier Advanced Materials
RYAM
$570M
$285K ﹤0.01%
+19,136
New +$349K
CL icon
452
Colgate-Palmolive
CL
$72.5B
$282K ﹤0.01%
4,074
-1,270
-24% -$87.8K
VECO icon
453
Veeco
VECO
$2.87B
$278K ﹤0.01%
9,100
-600
-6% -$18.8K
UPS icon
454
United Parcel Service
UPS
$89.9B
$275K ﹤0.01%
2,838
-1,100
-28% -$113K
PMO
455
Franklin Municipal Opportunities Trust
PMO
$280M
$268K ﹤0.01%
21,850
-9,652
-31% -$118K
IQI icon
456
Invesco Quality Municipal Securities
IQI
$537M
$266K ﹤0.01%
21,170
-333
-2% -$4.21K
SHY icon
457
iShares 1-3 Year Treasury Bond ETF
SHY
$25.4B
$265K ﹤0.01%
3,120
– –
NXZ
458
DELISTED
NUVEEN DIV ADV MUNI FD-2
NXZ
$263K ﹤0.01%
18,529
-15,915
-46% -$227K
EVY
459
DELISTED
Eaton Vance New York Municipal Income Trust
EVY
$262K ﹤0.01%
18,970
-2,400
-11% -$33K
EOG icon
460
EOG Resources
EOG
$75.8B
$249K ﹤0.01%
2,717
+183
+7% +$16.5K
MFIC icon
461
MidCap Financial Investment
MFIC
$799M
$249K ﹤0.01%
10,810
+901
+9% +$20.3K
LTS
462
DELISTED
Ladenburg Thalmann Financial Services Inc
LTS
$243K ﹤0.01%
62,700
– –
GRC icon
463
Gorman-Rupp
GRC
$2.05B
$240K ﹤0.01%
7,997
– –
NBO
464
DELISTED
Neuberger Berman New York Municipal Fund Inc.
NBO
$237K ﹤0.01%
17,065
-712
-4% -$10.1K
MRO
465
DELISTED
Marathon Oil Corporation
MRO
$235K ﹤0.01%
9,000
+1,400
+18% +$38K
NMZ icon
466
Nuveen Municipal High Income Opportunity Fund
NMZ
$2.16B
$234K ﹤0.01%
16,911
– –
COP icon
467
ConocoPhillips
COP
$156B
$232K ﹤0.01%
3,734
+280
+8% +$18.1K
NIM icon
468
Nuveen Select Maturities Municipal Fund
NIM
$115M
$232K ﹤0.01%
21,500
– –
FAM
469
DELISTED
First Trust/abrdn Global Opportunity Income Fund
FAM
$229K ﹤0.01%
19,570
-29,408
-60% -$348K
MACK
470
DELISTED
Merrimack Pharmaceuticals, Inc.
MACK
$226K ﹤0.01%
2,415
+890
+58% +$75.7K
CVE icon
471
Cenovus Energy
CVE
$58.5B
$225K ﹤0.01%
13,310
+2,000
+18% +$36.9K
DWA
472
PUT
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
$223K ﹤0.01%
+25,200
New +$536K
BIE
473
DELISTED
BLACKROCK MUNICIPAL BOND INVESTMENT TRUST
BIE
$217K ﹤0.01%
14,634
-410
-3% -$6.19K
NQU
474
DELISTED
NUVEEN QUALITY INCOME MUNI FD
NQU
$216K ﹤0.01%
15,400
-1,426
-8% -$20.1K
CVRR
475
DELISTED
CVR Refining, LP
CVRR
$215K ﹤0.01%
10,354
-388
-4% -$7.11K
17 18
19
20 21

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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.