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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
-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
7.2
quarters
Top 10 Avg Time Held Equity + Options
6
quarters
Top 20 Avg Time Held Equity + Options
6.4
quarters
Avg Time Held Equity only
7.3
quarters
Top 10 Avg Time Held Equity only
6.8
quarters
Top 20 Avg Time Held Equity only
6.9
quarters
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 | |
|---|---|---|---|---|---|---|---|
26
EchoStar
ECHO
$27.4B
| $52.5M | 0.95% |
1,505,534
-166,152
| -10% | -$6.13M |
2013 Q2
9 quarters
|
|
27
DELISTED
Liberty Broadband Class A
LBRDA
| $42.6M | 0.77% |
828,379
-110,431
| -12% | -$5.97M |
2014 Q4
3 quarters
|
|
28
Alphabet (Google) Class C
GOOG
$4.28T
| $41.6M | 0.76% |
1,337,120
-143,400
| -10% | -$4.41M |
2013 Q2
9 quarters
|
|
|
RSE
29
DELISTED
ROUSE PPTYS INC COM (DE)
RSE
| $41.5M | 0.75% |
2,662,342
-739,682
| -22% | -$12.4M |
2013 Q2
9 quarters
|
|
30
Berkshire Hathaway Class B
BRK.B
$1.11T
| $34.5M | 0.63% |
264,801
-10,829
| -4% | -$1.48M |
2013 Q2
9 quarters
|
|
31
Royal Gold
RGLD
$19.9B
| $33.6M | 0.61% |
715,991
-16,131
| -2% | -$830K |
2014 Q3
4 quarters
|
|
32
Enovis
ENOV
$1.03B
| $32.8M | 0.6% |
637,234
+21,561
| +4% | +$1.43M |
2013 Q2
9 quarters
|
|
33
People Inc
PPLI
$3.03B
| $31.1M | 0.56% |
2,663,655
-2,689,158
| -50% | -$35.7M |
2013 Q2
9 quarters
|
|
34
Franco-Nevada
FNV
$47.2B
| $26.6M | 0.48% |
604,566
-18,303
| -3% | -$788K |
2013 Q2
9 quarters
|
|
|
OAK
35
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
| $26.3M | 0.48% |
531,156
-6,975
| -1% | -$370K |
2013 Q2
9 quarters
|
|
36
Las Vegas Sands
LVS
$23.2B
| $24.2M | 0.44% |
638,518
-110,451
| -15% | -$5.57M |
2013 Q2
9 quarters
|
|
|
FCE.A
37
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| $24.2M | 0.44% |
1,203,851
-416,137
| -26% | -$9.17M |
2013 Q2
9 quarters
|
|
38
Jefferies Financial Group
JEF
$10.2B
| $24.2M | 0.44% |
1,335,503
-401,003
| -23% | -$8.05M |
2013 Q2
9 quarters
|
|
|
CLR
39
DELISTED
CONTINENTAL RESOURCES INC.
CLR
| $23.6M | 0.43% |
812,930
-69,739
| -8% | -$2.27M |
2013 Q2
9 quarters
|
|
40
Madison Square Garden
MSGS
$9.71B
| $23.4M | 0.42% |
454,471
-83,232
| -15% | -$4.58M |
2013 Q2
9 quarters
|
|
41
Markel Group
MKL
$21.9B
| $22.2M | 0.4% |
27,647
-2,088
| -7% | -$1.77M |
2013 Q2
9 quarters
|
|
42
DELISTED
Warner Bros
WBD
| $22.1M | 0.4% |
850,164
-517,015
| -38% | -$15.3M |
2013 Q2
9 quarters
|
|
|
LTRPA
43
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
| $18.7M | 0.34% |
844,677
-588,907
| -41% | -$16.3M |
2014 Q3
4 quarters
|
|
44
Berkshire Hathaway Class A
BRK.A
$1.11T
| $18.2M | 0.33% |
93
-1
| -1% | -$206K |
2013 Q2
9 quarters
|
|
|
45
LSB Industries
LXU
$712M
| $18.1M | 0.33% |
1,536,036
+318,295
| +26% | +$7.07M |
2015 Q1
2 quarters
|
|
46
DELISTED
Sears Holdings Corporation - Warrant
SHLDW
| $16.6M | 0.3% |
949,178
-34,776
| -4% | -$535K |
2014 Q4
3 quarters
|
|
|
SRSC
47
DELISTED
SEARS Canada Inc.
SRSC
| $16M | 0.29% |
2,451,402
-146,832
| -6% | -$879K |
2014 Q4
3 quarters
|
|
48
PUT
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$244M
| $15.6M | 0.28% |
+1
| New | +$53.6M |
2014 Q1
6 quarters
|
|
49
DELISTED
Paramount Global Class B
PARA
| $15.2M | 0.28% |
381,416
-168,345
| -31% | -$8.17M |
2013 Q2
9 quarters
|
|
50
Vanguard Short-Term Corporate Bond ETF
VCSH
$43.9B
| $14M | 0.25% |
175,623
+24
| +0% | +$1.91K |
2014 Q1
6 quarters
|
|
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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.