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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
+11.53%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.3B
AUM Growth
+$469M
Cap. Flow
-$333M
Cap. Flow %
-4.57%
Top 10 Hldgs %
48.05%
Holding
574
New
118
Increased
114
Reduced
223
Closed
34

Top Buys

Rank Stock Value
1
QVCGA
QVC Group Inc Series A
QVCGA
+$14.9M
2
SHLD
Sears Holding Corporation
SHLD
+$14M
3
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
+$10.4M
4
VIAB
Viacom Inc. Class B
VIAB
+$9.77M
5
DSL
DoubleLine Income Solutions Fund
DSL
+$7.65M

Top Sells

Rank Stock Value
1
ELS icon
Equity Lifestyle Properties
ELS
+$87M
2
CBOE icon
Cboe Global Markets
CBOE
+$34.7M
3
JCP
J.C. Penney Company, Inc.
JCP
+$15.5M
4
HHH icon
Howard Hughes
HHH
+$14.9M
5
RSE
ROUSE PPTYS INC COM (DE)
RSE
+$14.8M

Sector Composition

Rank Sector Weight
1 Communication Services 28.72%
2 Consumer Discretionary 19.44%
3 Real Estate 13.82%
4 Financials 12.64%
5 Energy 7.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PARA
26
DELISTED
Paramount Global Class B
PARA
$78.4M 1.07%
1,421,897
+14,157
+1% +$753K
ECHO
27
EchoStar
ECHO
$24.3B
$74M 1.01%
2,077,788
+64,661
+3% +$2.19M
ELS icon
28
Equity Lifestyle Properties
ELS
$13.1B
$68.2M 0.93%
3,990,256
-4,672,424
-54% -$87M
PPLI
29
People Inc
PPLI
$3.12B
$68M 0.93%
6,960,905
+70,312
+1% +$643K
ENOV icon
30
Enovis
ENOV
$1.74B
$66.6M 0.91%
684,735
-19,992
-3% -$1.84M
CLR
31
DELISTED
CONTINENTAL RESOURCES INC.
CLR
$61.7M 0.85%
1,150,584
-3,140
-0.3% -$150K
OAK
32
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
$59.2M 0.81%
1,129,982
+195,896
+21% +$10.4M
BRK.B icon
33
Berkshire Hathaway Class B
BRK.B
$1.1T
$58M 0.79%
510,872
-17,034
-3% -$1.97M
GOOG icon
34
Alphabet (Google) Class C
GOOG
$4.11T
$36.2M 0.5%
1,657,871
-25,937
-2% -$573K
WPX
35
DELISTED
WPX Energy, Inc.
WPX
$34M 0.47%
1,766,326
-93,592
-5% -$1.8M
ASCMA
36
DELISTED
Ascent Capital Group, Inc. Series A
ASCMA
$32.7M 0.45%
405,062
-1,364
-0.3% -$107K
FDO
37
DELISTED
FAMILY DOLLAR STORES
FDO
$31.4M 0.43%
435,643
-3,759
-0.9% -$264K
WT icon
38
WisdomTree
WT
$2.79B
$30.9M 0.42%
2,661,679
-405,890
-13% -$4.9M
FNV icon
39
Franco-Nevada
FNV
$41.3B
$29.3M 0.4%
647,051
-55,511
-8% -$2.36M
GGP
40
DELISTED
GGP Inc.
GGP
$29.3M 0.4%
1,518,147
-358,451
-19% -$7.22M
SNI
41
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
$25.9M 0.35%
331,566
+896
+0.3% +$66.1K
MA icon
42
Mastercard
MA
$498B
$25M 0.34%
371,010
-11,280
-3% -$708K
MGM icon
43
MGM Resorts International
MGM
$11.7B
$24.1M 0.33%
1,177,136
+20,946
+2% +$365K
SIAL
44
DELISTED
SIGMA - ALDRICH CORP
SIAL
$23.6M 0.32%
276,220
+593
+0.2% +$49.9K
SHOS
45
DELISTED
Sears Hometown and Outlet Stores, Inc.
SHOS
$23.5M 0.32%
739,652
-1,734
-0.2% -$66.7K
AL
46
DELISTED
Air Lease Corp
AL
$22.9M 0.31%
826,488
-44,829
-5% -$1.23M
MKL icon
47
Markel Group
MKL
$25.2B
$20.7M 0.28%
39,961
-190
-0.5% -$99.8K
BRK.A icon
48
Berkshire Hathaway Class A
BRK.A
$1.1T
$18.4M 0.25%
108
– –
TWX
49
DELISTED
Time Warner Inc
TWX
$18.2M 0.25%
288,492
+7,426
+3% +$444K
CSX icon
50
CSX Corp
CSX
$94B
$17.7M 0.24%
2,067,393
+11,232
+0.5% +$94.3K
1
2
3 4 5

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Horizon Kinetics's Q3 2013 Portfolio in Review

As of Q3 2013, Horizon Kinetics held 574 positions worth $7.3B, up 6.9% from $6.83B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Horizon Kinetics withdrew a net $333M in Q3 2013, closing 34 positions and reducing 223 holdings. Its most notable exit was State Street SPDR Bloomberg High Yield Bond ETF, an estimated $3.36M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 29% of assets, up from 27% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Horizon Kinetics opened a new position in HEICO Corp Class A worth $6.53M.

  • Horizon Kinetics's largest Q3 2013 buy was HEICO Corp Class A: 397,546 shares worth $6.53M.
  • Horizon Kinetics added most to QVC Group Inc Series A in Q3 2013, an estimated $14.9M increase.
  • Horizon Kinetics's biggest Q3 2013 reduction was Equity Lifestyle Properties, cutting an estimated $87M.
  • Horizon Kinetics fully exited State Street SPDR Bloomberg High Yield Bond ETF in Q3 2013, selling an estimated $3.36M.
  • Horizon Kinetics's ten largest holdings make up 48% of its $7.3B portfolio in Q3 2013.
  • Horizon Kinetics opened 118 new positions and closed 34 in Q3 2013.
  • Horizon Kinetics's portfolio value rose 6.9% quarter-over-quarter to $7.3B.

Based on Horizon Kinetics's 13F filing for Q3 2013, filed 14 Nov 2013.