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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
+7.66%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.98B
AUM Growth
-$51.5M
Cap. Flow
-$246M
Cap. Flow %
-6.2%
Top 10 Hldgs %
49.52%
Holding
553
New
23
Increased
86
Reduced
305
Closed
31

Top Buys

Rank Stock Value
1
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$158M
2
NWL icon
Newell Brands
NWL
+$80M
3
LSXMA
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
+$77.9M
4
RMT
Royce Micro-Cap Trust
RMT
+$18M
5
NVGS icon
Navigator Holdings
NVGS
+$13.8M

Top Sells

Rank Stock Value
1
JAH
JARDEN CORPORATION
JAH
+$145M
2
FWONK icon
Liberty Media Series C
FWONK
+$123M
3
DWA
DREAMWORKS ANIMATION SKG INC CL-A
DWA
+$85.2M
4
FWONA icon
Liberty Media Series A
FWONA
+$62.4M
5
DISH
DISH Network Corp.
DISH
+$28.4M

Sector Composition

Rank Sector Weight
1 Communication Services 20.13%
2 Consumer Discretionary 13.22%
3 Energy 12.86%
4 Real Estate 12.1%
5 Financials 8.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SHLD
26
DELISTED
Sears Holding Corporation
SHLD
$30.8M 0.78%
2,265,577
-302,527
-12% -$4.27M
LBRDA icon
27
Liberty Broadband Class A
LBRDA
$4.89B
$30.8M 0.77%
518,460
-115,556
-18% -$6.73M
BRK.B icon
28
Berkshire Hathaway Class B
BRK.B
$1.1T
$30M 0.75%
207,190
-6,721
-3% -$961K
LVS icon
29
Las Vegas Sands
LVS
$31.4B
$25.4M 0.64%
583,549
-24,029
-4% -$1.12M
CLR
30
DELISTED
CONTINENTAL RESOURCES INC.
CLR
$25.2M 0.63%
557,345
-27,413
-5% -$1.08M
RSE
31
DELISTED
ROUSE PPTYS INC COM (DE)
RSE
$24.7M 0.62%
1,352,277
-74,672
-5% -$1.37M
FWONK icon
32
Liberty Media Series C
FWONK
$25.5B
$23M 0.58%
1,254,149
-6,306,121
-83% -$123M
FCE.A
33
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$22M 0.55%
987,976
-56,326
-5% -$1.23M
MKL icon
34
Markel Group
MKL
$25.2B
$21.6M 0.54%
22,634
-442
-2% -$412K
OAK
35
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
$20.1M 0.5%
448,468
-518
-0.1% -$24.1K
BRK.A icon
36
Berkshire Hathaway Class A
BRK.A
$1.1T
$20M 0.5%
92
– –
RMT
37
Royce Micro-Cap Trust
RMT
$718M
$19M 0.48%
2,591,714
+2,473,038
+2,084% +$18M
ENOV icon
38
Enovis
ENOV
$1.74B
$18.8M 0.47%
413,534
-19,488
-5% -$952K
WBD icon
39
Warner Bros
WBD
$64.3B
$17.1M 0.43%
675,970
-41,610
-6% -$1.14M
JEF icon
40
Jefferies Financial Group
JEF
$12.7B
$17M 0.43%
1,094,549
-61,441
-5% -$938K
LVNTA
41
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
$15.9M 0.4%
428,778
-686,966
-62% -$26.1M
PARA
42
DELISTED
Paramount Global Class B
PARA
$14.9M 0.37%
273,613
-24,628
-8% -$1.34M
MSGS icon
43
Madison Square Garden
MSGS
$9.59B
$14.3M 0.36%
116,351
-10,229
-8% -$1.2M
ELS icon
44
Equity Lifestyle Properties
ELS
$13.1B
$13.8M 0.35%
343,740
-20,648
-6% -$749K
MGM icon
45
MGM Resorts International
MGM
$11.7B
$13.4M 0.34%
589,960
-8,800
-1% -$200K
WYNN icon
46
Wynn Resorts
WYNN
$10.3B
$13.2M 0.33%
145,669
-11,640
-7% -$1.11M
V icon
47
Visa
V
$677B
$12.7M 0.32%
170,664
-2,000
-1% -$157K
PDI icon
48
PIMCO Dynamic Income Fund
PDI
$7.35B
$11.7M 0.29%
425,343
-5,368
-1% -$145K
FWONA icon
49
Liberty Media Series A
FWONA
$23.4B
$11.7M 0.29%
637,316
-3,199,958
-83% -$62.4M
NVGS icon
50
Navigator Holdings
NVGS
$1.35B
$11.3M 0.28%
+981,775
New +$13.8M
1
2
3 4 5

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Horizon Kinetics's Q2 2016 Portfolio in Review

As of Q2 2016, Horizon Kinetics held 553 positions worth $3.98B, down 1.3% from $4.03B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Horizon Kinetics withdrew a net $246M in Q2 2016, closing 31 positions and reducing 305 holdings. Its most notable exit was JARDEN CORPORATION, an estimated $145M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 20% of assets, down from 27% a quarter earlier, followed by Consumer Discretionary and Energy.

Against the trend, Horizon Kinetics opened a new position in Liberty Media Corporation Series C Liberty SiriusXM Common Stock worth $155M.

  • Horizon Kinetics's largest Q2 2016 buy was Liberty Media Corporation Series C Liberty SiriusXM Common Stock: 6,601,608 shares worth $155M.
  • Horizon Kinetics added most to Royce Micro-Cap Trust in Q2 2016, an estimated $18M increase.
  • Horizon Kinetics's biggest Q2 2016 reduction was Liberty Media Series C, cutting an estimated $123M.
  • Horizon Kinetics fully exited JARDEN CORPORATION in Q2 2016, selling an estimated $145M.
  • Horizon Kinetics's ten largest holdings make up 50% of its $3.98B portfolio in Q2 2016.
  • Horizon Kinetics opened 23 new positions and closed 31 in Q2 2016.
  • Horizon Kinetics's portfolio value fell 1.3% quarter-over-quarter to $3.98B.

Based on Horizon Kinetics's 13F filing for Q2 2016, filed 15 Aug 2016.