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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
-$379M
Cap. Flow %
-4.74%
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 25.45%
2 Consumer Discretionary 20.47%
3 Real Estate 13.74%
4 Financials 9.28%
5 Energy 9.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBWI icon
26
Bath & Body Works
BBWI
$3.97B
$82.2M 1.03%
1,732,452
-170,523
-9% -$7.81M
LVS icon
27
Las Vegas Sands
LVS
$32.2B
$79.6M 1%
1,044,196
-1,694
-0.2% -$129K
CLR
28
DELISTED
CONTINENTAL RESOURCES INC.
CLR
$78.8M 0.98%
996,752
-57,358
-5% -$3.99M
ECHO
29
EchoStar
ECHO
$24.3B
$78.6M 0.98%
1,831,298
-21,752
-1% -$867K
PARA
30
DELISTED
Paramount Global Class B
PARA
$76M 0.95%
1,222,655
-33,751
-3% -$2.01M
WBD icon
31
Warner Bros
WBD
$64.3B
$61.4M 0.77%
1,617,277
-10,933
-0.7% -$430K
ELS icon
32
Equity Lifestyle Properties
ELS
$13.1B
$61.4M 0.77%
2,779,446
-41,764
-1% -$891K
OAK
33
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
$60.1M 0.75%
1,201,378
-242,682
-17% -$12.6M
BRK.B icon
34
Berkshire Hathaway Class B
BRK.B
$1.1T
$54.2M 0.68%
428,366
-50,198
-10% -$6.35M
FCE.A
35
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$46M 0.58%
2,316,984
-473,766
-17% -$9.05M
LE icon
36
Lands' End
LE
$378M
$45.9M 0.57%
+1,367,129
New +$38.8M
GOOG icon
37
Alphabet (Google) Class C
GOOG
$4.11T
$45.6M 0.57%
1,576,316
-53,249
-3% -$1.44M
SHOS
38
DELISTED
Sears Hometown and Outlet Stores, Inc.
SHOS
$38.6M 0.48%
1,797,702
+161,368
+10% +$3.55M
XXV
39
PUT
DELISTED
IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN
XXV
$35.1M 0.44%
+1,226,800
New +$47.2M
TPH
40
DELISTED
Tri Pointe Homes
TPH
$32.4M 0.41%
+2,062,295
New +$33.3M
UCD
41
PUT
DELISTED
PROSHARES ULTRA BLOOMBERG COMMODITY
UCD
$30.4M 0.38%
+285,675
New +$25.5M
MGM icon
42
MGM Resorts International
MGM
$11.7B
$29.8M 0.37%
1,129,201
-9,489
-0.8% -$237K
FNV icon
43
Franco-Nevada
FNV
$41.3B
$28.4M 0.36%
495,410
+949
+0.2% +$46.3K
TWX
44
DELISTED
Time Warner Inc
TWX
$24.5M 0.31%
348,574
-9,244
-3% -$608K
MSGS icon
45
Madison Square Garden
MSGS
$9.59B
$22.2M 0.28%
499,464
-11,264
-2% -$443K
CSX icon
46
CSX Corp
CSX
$94B
$21.2M 0.27%
2,066,901
-4,200
-0.2% -$40.9K
PCI
47
DELISTED
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
$20.9M 0.26%
876,863
+206,188
+31% +$4.82M
SIAL
48
DELISTED
SIGMA - ALDRICH CORP
SIAL
$20.8M 0.26%
204,792
-14,073
-6% -$1.37M
MA icon
49
Mastercard
MA
$498B
$20.4M 0.26%
278,011
-64,923
-19% -$4.82M
MKL icon
50
Markel Group
MKL
$25.2B
$19.8M 0.25%
30,229
-2,707
-8% -$1.71M
1
2
3 4 5

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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 $379M 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.