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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
+10.71%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.92B
AUM Growth
+$624M
Cap. Flow
+$73.9M
Cap. Flow %
0.93%
Top 10 Hldgs %
47.13%
Holding
566
New
25
Increased
228
Reduced
180
Closed
29

Top Buys

Rank Stock Value
1
MA icon
Mastercard
MA
+$228M
2
SHLD
Sears Holding Corporation
SHLD
+$32.4M
3
XXV
IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN
XXV
+$13M
4
STRZA
Starz - Series A
STRZA
+$11.4M
5
TPL icon
Texas Pacific Land
TPL
+$10.3M

Top Sells

Rank Stock Value
1
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$25.6M
2
JEF icon
Jefferies Financial Group
JEF
+$24.2M
3
BN icon
Brookfield
BN
+$23.5M
4
AN icon
AutoNation
AN
+$23M
5
FWONA icon
Liberty Media Series A
FWONA
+$20.1M

Sector Composition

Rank Sector Weight
1 Communication Services 28.42%
2 Consumer Discretionary 18.82%
3 Real Estate 12.64%
4 Financials 11.91%
5 Energy 8.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WBD icon
26
Warner Bros
WBD
$64.3B
$83.3M 1.05%
1,802,329
-251,746
-12% -$10.9M
ECHO
27
EchoStar
ECHO
$24.3B
$79.7M 1.01%
1,978,161
-99,627
-5% -$3.89M
FCE.A
28
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$78M 0.98%
4,083,773
-1,316,596
-24% -$25.6M
ENOV icon
29
Enovis
ENOV
$1.74B
$73.7M 0.93%
672,430
-12,305
-2% -$1.23M
OAK
30
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
$67.5M 0.85%
1,147,840
+17,858
+2% +$992K
ELS icon
31
Equity Lifestyle Properties
ELS
$13.1B
$63.1M 0.8%
3,482,006
-508,250
-13% -$9.2M
CLR
32
DELISTED
CONTINENTAL RESOURCES INC.
CLR
$62.1M 0.78%
1,103,986
-46,598
-4% -$2.61M
BRK.B icon
33
Berkshire Hathaway Class B
BRK.B
$1.1T
$58.6M 0.74%
494,067
-16,805
-3% -$1.94M
GOOG icon
34
Alphabet (Google) Class C
GOOG
$4.11T
$45.4M 0.57%
1,625,430
-32,441
-2% -$820K
WT icon
35
WisdomTree
WT
$2.79B
$44.9M 0.57%
2,534,776
-126,903
-5% -$1.81M
VXX
36
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$38.4M 0.48%
56,419
+55,985
+12,900% +$44.7M
ASCMA
37
DELISTED
Ascent Capital Group, Inc. Series A
ASCMA
$32.9M 0.41%
384,129
-20,933
-5% -$1.77M
WPX
38
DELISTED
WPX Energy, Inc.
WPX
$32.4M 0.41%
1,590,326
-176,000
-10% -$3.51M
VXX
39
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$31.3M 0.39%
+45,906
New +$36.6M
MA icon
40
Mastercard
MA
$498B
$28.8M 0.36%
3,443,780
+3,072,770
+828% +$228M
MGM icon
41
MGM Resorts International
MGM
$11.7B
$26.6M 0.34%
1,132,964
-44,172
-4% -$900K
FDO
42
DELISTED
FAMILY DOLLAR STORES
FDO
$26.3M 0.33%
404,680
-30,963
-7% -$2.12M
SNI
43
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
$24.8M 0.31%
287,545
-44,021
-13% -$3.45M
SHOS
44
DELISTED
Sears Hometown and Outlet Stores, Inc.
SHOS
$23.4M 0.3%
918,233
+178,581
+24% +$5.11M
AL
45
DELISTED
Air Lease Corp
AL
$23.3M 0.29%
751,106
-75,382
-9% -$2.3M
SIAL
46
DELISTED
SIGMA - ALDRICH CORP
SIAL
$23.2M 0.29%
246,858
-29,362
-11% -$2.55M
TWX
47
DELISTED
Time Warner Inc
TWX
$22.5M 0.28%
336,802
+48,310
+17% +$3.12M
MKL icon
48
Markel Group
MKL
$25.2B
$21.5M 0.27%
36,964
-2,997
-7% -$1.63M
FNV icon
49
Franco-Nevada
FNV
$41.3B
$21.2M 0.27%
519,479
-127,572
-20% -$5.36M
V icon
50
Visa
V
$677B
$20.5M 0.26%
367,960
-432
-0.1% -$21.8K
1
2
3 4 5

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Horizon Kinetics's Q4 2013 Portfolio in Review

As of Q4 2013, Horizon Kinetics held 566 positions worth $7.92B, up 8.6% from $7.3B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Horizon Kinetics's Q4 2013 filing shows 25 new, 228 increased, 180 reduced and 29 closed positions. Its largest new stake was IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN: 337,400 shares worth $14.4M. The largest sale was Forest City Realty Trust, Inc., an estimated $25.6M.

By sector, the portfolio is most concentrated in Communication Services at 28% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Real Estate.

  • Horizon Kinetics's largest Q4 2013 buy was IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN: 337,400 shares worth $14.4M.
  • Horizon Kinetics added most to Mastercard in Q4 2013, an estimated $228M increase.
  • Horizon Kinetics's biggest Q4 2013 reduction was Forest City Realty Trust, Inc., cutting an estimated $25.6M.
  • Horizon Kinetics fully exited NYSE EURONEXT INC in Q4 2013, selling an estimated $11.3M.
  • Horizon Kinetics's ten largest holdings make up 47% of its $7.92B portfolio in Q4 2013.
  • Horizon Kinetics opened 25 new positions and closed 29 in Q4 2013.
  • Horizon Kinetics's portfolio value rose 8.6% quarter-over-quarter to $7.92B.

Based on Horizon Kinetics's 13F filing for Q4 2013, filed 13 Feb 2014.