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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
+8.02%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.26B
AUM Growth
-$147M
Cap. Flow
-$607M
Cap. Flow %
-8.37%
Top 10 Hldgs %
45.64%
Holding
547
New
27
Increased
111
Reduced
327
Closed
26

Top Buys

Rank Stock Value
1
LXU icon
LSB Industries
LXU
+$25M
2
LBRDK
Liberty Broadband Class C
LBRDK
+$22.4M
3
TPH
Tri Pointe Homes
TPH
+$11.6M
4
RGLD icon
Royal Gold
RGLD
+$11M
5
WBD icon
Warner Bros
WBD
+$2.7M

Top Sells

Rank Stock Value
1
BRP
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
+$98.4M
2
HHH icon
Howard Hughes
HHH
+$44.7M
3
FWONK icon
Liberty Media Series C
FWONK
+$29.3M
4
IEP icon
Icahn Enterprises
IEP
+$26.6M
5
ELS icon
Equity Lifestyle Properties
ELS
+$22.9M

Sector Composition

Rank Sector Weight
1 Communication Services 26.13%
2 Consumer Discretionary 22.18%
3 Real Estate 12.53%
4 Energy 9.59%
5 Financials 9.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EVG
476
Eaton Vance Short Duration Diversified Income Fund
EVG
$143M
$214K ﹤0.01%
14,745
-3,225
-18% -$46.3K
CSD icon
477
Invesco S&P Spin-Off ETF
CSD
$225M
$212K ﹤0.01%
+4,463
New +$205K
JMT
478
DELISTED
Nuveen Mortgage Opportunity Term Fund 2
JMT
$209K ﹤0.01%
9,260
-95
-1% -$2.16K
T icon
479
AT&T
T
$174B
$207K ﹤0.01%
8,414
-858
-9% -$21.8K
PML
480
PIMCO Municipal Income Fund II
PML
$489M
$204K ﹤0.01%
16,322
-9,753
-37% -$120K
FHY
481
DELISTED
First Trust Strategic High
FHY
$204K ﹤0.01%
14,311
-6,791
-32% -$97.5K
VTR icon
482
Ventas
VTR
$47.6B
$202K ﹤0.01%
+2,424
New +$209K
NZF icon
483
Nuveen Municipal Credit Income Fund
NZF
$2.4B
$201K ﹤0.01%
14,172
-11,118
-44% -$157K
ARNA
484
DELISTED
Arena Pharmaceuticals Inc
ARNA
$197K ﹤0.01%
4,500
– –
NPF
485
DELISTED
NUVEEN PREMIER MUNI INCOME FD
NPF
$196K ﹤0.01%
14,073
-8,676
-38% -$121K
AYN
486
DELISTED
Alliance New York Income Fund
AYN
$190K ﹤0.01%
13,599
-80
-0.6% -$1.11K
PIR
487
DELISTED
Pier 1 Imports, Inc.
PIR
$179K ﹤0.01%
640
+140
+28% +$40.5K
KTF
488
DWS Municipal Income Trust
KTF
$344M
$168K ﹤0.01%
11,980
-5,900
-33% -$81.5K
EIM
489
Eaton Vance Municipal Bond Fund
EIM
$497M
$166K ﹤0.01%
12,840
– –
NXK
490
DELISTED
NUVEEN N.Y. DIV ADV MUNI FD
NXK
$156K ﹤0.01%
11,532
-1,000
-8% -$13.5K
MUI
491
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$151K ﹤0.01%
10,308
– –
CCA
492
DELISTED
MFS California Municipal Fund
CCA
$142K ﹤0.01%
12,215
-1,328
-10% -$15.2K
MUS
493
DELISTED
BLACKROCK MUNIHOLDINGS QUALITY FUND, INC.
MUS
$140K ﹤0.01%
10,415
-599
-5% -$8.05K
PZC
494
DELISTED
PIMCO California Municipal Income Fund III
PZC
$130K ﹤0.01%
11,931
– –
PWE
495
DELISTED
Penn West Energy Petroleum Ltd
PWE
$130K ﹤0.01%
78,606
+51,000
+185% +$94.1K
OSGB
496
DELISTED
OVERSEAS SHIPHOLDING GROUP, INC. COM CL B
OSGB
$130K ﹤0.01%
34,906
-880
-2% -$3.84K
MHY
497
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
$115K ﹤0.01%
22,200
– –
BCX icon
498
BlackRock Resources & Commodities Strategy Trust
BCX
$996M
$113K ﹤0.01%
11,812
-5,282
-31% -$51.4K
JTP
499
DELISTED
NUVEEN QUALITY PFD INCOME FD
JTP
$105K ﹤0.01%
12,343
-15,420
-56% -$131K
VHI icon
500
Valhi
VHI
$503M
$102K ﹤0.01%
1,367
-33
-2% -$2.37K
18 19
20
21 22

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Horizon Kinetics's Q1 2015 Portfolio in Review

As of Q1 2015, Horizon Kinetics held 547 positions worth $7.26B, down 2% from $7.4B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Horizon Kinetics withdrew a net $607M in Q1 2015, closing 26 positions and reducing 327 holdings. Its most notable exit was BROOKFIELD RESIDENTIAL PROPERTIES INC, an estimated $98.4M position sold in full.

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

Against the trend, Horizon Kinetics opened a new position in LSB Industries worth $29.1M.

  • Horizon Kinetics's largest Q1 2015 buy was LSB Industries: 915,719 shares worth $29.1M.
  • Horizon Kinetics added most to Liberty Broadband Class C in Q1 2015, an estimated $22.4M increase.
  • Horizon Kinetics's biggest Q1 2015 reduction was Howard Hughes, cutting an estimated $44.7M.
  • Horizon Kinetics fully exited BROOKFIELD RESIDENTIAL PROPERTIES INC in Q1 2015, selling an estimated $98.4M.
  • Horizon Kinetics's ten largest holdings make up 46% of its $7.26B portfolio in Q1 2015.
  • Horizon Kinetics opened 27 new positions and closed 26 in Q1 2015.
  • Horizon Kinetics's portfolio value fell 2% quarter-over-quarter to $7.26B.

Based on Horizon Kinetics's 13F filing for Q1 2015, filed 15 May 2015.