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Horizon Kinetics Portfolio holdings
AUM
$3.06B
Turnover
11.22%
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
1.8
years
Top 10 Avg Time Held Equity + Options
1.5
years
Top 20 Avg Time Held Equity + Options
1.6
years
Avg Time Held Equity only
1.8
years
Top 10 Avg Time Held Equity only
1.7
years
Top 20 Avg Time Held Equity only
1.7
years
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 | |
|---|---|---|---|---|---|---|---|
|
CCA
476
DELISTED
MFS California Municipal Fund
CCA
| $134K | ﹤0.01% |
12,215
| – | – |
2013 Q2
9 quarters
|
|
477
Nuveen Credit Strategies Income Fund
JQC
$664M
| $129K | ﹤0.01% |
16,211
-22,393
| -58% | -$189K |
2013 Q2
9 quarters
|
|
478
Rayonier Advanced Materials
RYAM
$471M
| $127K | ﹤0.01% |
20,700
+609
| +3% | +$6.16K |
2015 Q1
2 quarters
|
|
479
MidCap Financial Investment
MFIC
$684M
| $126K | ﹤0.01% |
7,643
| – | – |
2013 Q2
9 quarters
|
|
|
LTS
480
DELISTED
Ladenburg Thalmann Financial Services Inc
LTS
| $116K | ﹤0.01% |
54,700
-8,000
| -13% | -$22K |
2014 Q3
4 quarters
|
|
|
PGLC
481
DELISTED
Pershing Gold Corporation. Common Stock
PGLC
| $110K | ﹤0.01% |
+28,810
| New | +$139K |
2015 Q3
0 quarters
|
|
|
PIR
482
DELISTED
Pier 1 Imports, Inc.
PIR
| $100K | ﹤0.01% |
725
| – | – |
2014 Q4
3 quarters
|
|
|
OSGB
483
DELISTED
OVERSEAS SHIPHOLDING GROUP, INC. COM CL B
OSGB
| $99K | ﹤0.01% |
32,228
-1,256
| -4% | -$4.13K |
2014 Q4
3 quarters
|
|
484
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
| $99K | ﹤0.01% |
22,200
| – | – |
2013 Q2
9 quarters
|
|
|
JTP
485
DELISTED
NUVEEN QUALITY PFD INCOME FD
JTP
| $94K | ﹤0.01% |
11,921
| – | – |
2013 Q2
9 quarters
|
|
|
CASC
486
DELISTED
Cascadian Therapeutics, Inc.
CASC
| $91K | ﹤0.01% |
5,556
| – | – |
2013 Q2
9 quarters
|
|
|
ARNA
487
DELISTED
Arena Pharmaceuticals Inc
ARNA
| $86K | ﹤0.01% |
4,500
| – | – |
2013 Q2
9 quarters
|
|
|
CXE
488
DELISTED
MFS High Income Municipal Trust
CXE
| $76K | ﹤0.01% |
15,962
-317
| -2% | -$1.47K |
2013 Q2
9 quarters
|
|
489
BlackRock Debt Strategies Fund
DSU
$560M
| $60K | ﹤0.01% |
5,987
-1,173
| -16% | -$12.4K |
2013 Q2
9 quarters
|
|
|
MDR
490
DELISTED
McDermott International
MDR
| $56K | ﹤0.01% |
4,372
-128
| -3% | -$1.76K |
2013 Q2
9 quarters
|
|
491
Pacific Biosciences
PACB
$541M
| $44K | ﹤0.01% |
12,000
| – | – |
2013 Q2
9 quarters
|
|
|
FRTX
492
DELISTED
Fresh Tracks Therapeutics, Inc. Common Stock
FRTX
| $39K | ﹤0.01% |
27
| – | – |
2013 Q2
9 quarters
|
|
493
Traws Pharma
TRAW
$5.93M
| – | – |
0
| – | – |
2014 Q1
6 quarters
|
|
494
Madrigal Pharmaceuticals
MDGL
$10.4B
| $31K | ﹤0.01% |
514
+57
| +12% | +$4.11K |
2014 Q1
6 quarters
|
|
|
PWE
495
DELISTED
Penn West Energy Petroleum Ltd
PWE
| $28K | ﹤0.01% |
62,462
-10,494
| -14% | -$10.3K |
2013 Q2
9 quarters
|
|
|
ATNY
496
DELISTED
API TECHNOLOGIES CORP. COMMON STOCK
ATNY
| $23K | ﹤0.01% |
10,700
| – | – |
2013 Q2
9 quarters
|
|
497
Trilogy Metals
TMQ
$426M
| $14K | ﹤0.01% |
38,476
-1,002
| -3% | -$439 |
2013 Q2
9 quarters
|
|
|
GCVRZ
498
DELISTED
Sanofi Contingent Value Rights
GCVRZ
| $3K | ﹤0.01% |
15,940
| – | – |
2013 Q2
9 quarters
|
|
499
AllianceBernstein
AB
$3.19B
| – | – |
-19,712
| Closed | -$582K | – |
|
500
Apollo Global Management
APO
$65.8B
| – | – |
-70,816
| Closed | -$1.57M | – |
|
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PWM
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RCM
CFIC
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.