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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
-1.35%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.76B
AUM Growth
-$241M
Cap. Flow
+$94.9M
Cap. Flow %
1.22%
Top 10 Hldgs %
46.08%
Holding
545
New
17
Increased
177
Reduced
233
Closed
26

Top Buys

Rank Stock Value
1
FWONK icon
Liberty Media Series C
FWONK
+$426M
2
LTRPA
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
+$66.8M
3
TPH
Tri Pointe Homes
TPH
+$49.1M
4
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$34.3M
5
ONIT
Onity Group
ONIT
+$28.7M

Top Sells

Rank Stock Value
1
FWONA icon
Liberty Media Series A
FWONA
+$410M
2
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$71.6M
3
JEF icon
Jefferies Financial Group
JEF
+$53.4M
4
WBD icon
Warner Bros
WBD
+$25.1M
5
RSE
ROUSE PPTYS INC COM (DE)
RSE
+$25.1M

Sector Composition

Rank Sector Weight
1 Communication Services 26.29%
2 Consumer Discretionary 18.01%
3 Real Estate 13.03%
4 Energy 10.77%
5 Financials 8.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CXE
476
DELISTED
MFS High Income Municipal Trust
CXE
$192K ﹤0.01%
40,425
-13,749
-25% -$65.4K
ARNA
477
DELISTED
Arena Pharmaceuticals Inc
ARNA
$189K ﹤0.01%
4,500
– –
RFI
478
Cohen & Steers Total Return Realty Fund
RFI
$312M
$181K ﹤0.01%
15,145
– –
MHI
479
DELISTED
Pioneer Municipal High Income Fund
MHI
$178K ﹤0.01%
11,700
-1,300
-10% -$19.6K
NZH
480
DELISTED
Nuveen Calif Div
NZH
$176K ﹤0.01%
13,767
-1,352
-9% -$17.2K
EVM
481
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$173K ﹤0.01%
15,278
-937
-6% -$10.8K
EIM
482
Eaton Vance Municipal Bond Fund
EIM
$494M
$161K ﹤0.01%
12,840
– –
CCA
483
DELISTED
MFS California Municipal Fund
CCA
$156K ﹤0.01%
14,448
-1,800
-11% -$19.6K
FTF
484
Franklin Limited Duration Income Trust
FTF
$231M
$152K ﹤0.01%
12,261
-7,100
-37% -$90.7K
MUI
485
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$149K ﹤0.01%
10,308
– –
MUS
486
DELISTED
BLACKROCK MUNIHOLDINGS QUALITY FUND, INC.
MUS
$146K ﹤0.01%
11,266
-100
-0.9% -$1.3K
MHY
487
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
$141K ﹤0.01%
25,600
-2,400
-9% -$13.5K
PYN
488
DELISTED
PIMCO New York Municipal Income Fund III
PYN
$140K ﹤0.01%
14,800
– –
MDR
489
DELISTED
McDermott International
MDR
$135K ﹤0.01%
7,864
-243
-3% -$5.24K
PZC
490
DELISTED
PIMCO California Municipal Income Fund III
PZC
$124K ﹤0.01%
11,931
– –
JPS
491
DELISTED
Nuveen Preferred & Income Securities Fund
JPS
$121K ﹤0.01%
13,933
– –
PMM
492
Franklin Managed Municipal Income Trust
PMM
$270M
$120K ﹤0.01%
16,910
-200
-1% -$1.41K
SCU
493
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$120K ﹤0.01%
1,120
– –
DSM
494
BNY Mellon Strategic Municipal Bond Fund
DSM
$290M
$119K ﹤0.01%
14,774
-4,300
-23% -$34.8K
MEN
495
DELISTED
Blackrock Muni Enhanced Fund, Inc.
MEN
$114K ﹤0.01%
10,198
– –
MACK
496
DELISTED
Merrimack Pharmaceuticals, Inc.
MACK
$105K ﹤0.01%
1,525
– –
FRTX
497
DELISTED
Fresh Tracks Therapeutics, Inc. Common Stock
FRTX
$95K ﹤0.01%
27
– –
MFM
498
Aberdeen Municipal Income Fund
MFM
$221M
$93K ﹤0.01%
14,211
-5,500
-28% -$35.5K
PCF
499
High Income Securities Fund
PCF
$98.8M
$91K ﹤0.01%
10,960
-53
-0.5% -$451
TMQ
500
Trilogy Metals
TMQ
$504M
$82K ﹤0.01%
88,335
-676
-0.8% -$717
18 19
20
21 22

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Horizon Kinetics's Q3 2014 Portfolio in Review

As of Q3 2014, Horizon Kinetics held 545 positions worth $7.76B, down 3% from $8B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Horizon Kinetics's Q3 2014 filing shows 17 new, 177 increased, 233 reduced and 26 closed positions. Its largest new stake was Liberty Media Series C: 16,647,867 shares worth $419M. The largest sale was Liberty Media Series A, an estimated $410M.

By sector, the portfolio is most concentrated in Communication Services at 26% of assets, up from 25% a quarter earlier, followed by Consumer Discretionary and Real Estate.

  • Horizon Kinetics's largest Q3 2014 buy was Liberty Media Series C: 16,647,867 shares worth $419M.
  • Horizon Kinetics added most to Tri Pointe Homes in Q3 2014, an estimated $49.1M increase.
  • Horizon Kinetics's biggest Q3 2014 reduction was Liberty Media Series A, cutting an estimated $410M.
  • Horizon Kinetics fully exited SUSSER HOLDINGS CORPORATION COMMON STOCK in Q3 2014, selling an estimated $3.59M.
  • Horizon Kinetics's ten largest holdings make up 46% of its $7.76B portfolio in Q3 2014.
  • Horizon Kinetics opened 17 new positions and closed 26 in Q3 2014.
  • Horizon Kinetics's portfolio value fell 3% quarter-over-quarter to $7.76B.

Based on Horizon Kinetics's 13F filing for Q3 2014, filed 13 Nov 2014.