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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
+0.65%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$4.03B
AUM Growth
-$613M
Cap. Flow
-$544M
Cap. Flow %
-13.5%
Top 10 Hldgs %
47.09%
Holding
548
New
39
Increased
118
Reduced
299
Closed
19

Top Buys

Rank Stock Value
1
WPM icon
Wheaton Precious Metals
WPM
+$20.3M
2
FNV icon
Franco-Nevada
FNV
+$16.4M
3
TPL icon
Texas Pacific Land
TPL
+$4.02M
4
DSL
DoubleLine Income Solutions Fund
DSL
+$3.98M
5
XOM icon
ExxonMobil
XOM
+$1.7M

Top Sells

Rank Stock Value
1
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$57.4M
2
HHH icon
Howard Hughes
HHH
+$46.6M
3
QVCGA
QVC Group Inc Series A
QVCGA
+$41.1M
4
JAH
JARDEN CORPORATION
JAH
+$32.8M
5
AN icon
AutoNation
AN
+$23.4M

Sector Composition

Rank Sector Weight
1 Communication Services 26.84%
2 Consumer Discretionary 16.19%
3 Energy 12.39%
4 Real Estate 11.67%
5 Financials 8.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OIA icon
476
Invesco Municipal Income Opportunities Trust
OIA
$293M
$214K 0.01%
27,874
+656
+2% +$4.9K
MACK
477
DELISTED
Merrimack Pharmaceuticals, Inc.
MACK
$209K 0.01%
3,178
– –
STRP
478
DELISTED
Straight Path Communications Inc.
STRP
$207K 0.01%
+6,681
New +$167K
PMO
479
Franklin Municipal Opportunities Trust
PMO
$282M
$206K 0.01%
16,234
– –
RELY
480
DELISTED
Real Industry, Inc.
RELY
$204K 0.01%
23,500
-5,787
-20% -$39.7K
DUC
481
DELISTED
Duff & Phelps Utility & Corporate Bond Trust
DUC
$201K 0.01%
20,850
+1,350
+7% +$12.5K
TRS icon
482
TriMas Corp
TRS
$1.41B
$193K ﹤0.01%
11,000
-1,000
-8% -$17.1K
CPN
483
DELISTED
Calpine Corporation
CPN
$179K ﹤0.01%
11,798
-1
-0% -$14
BBF
484
DELISTED
BlackRock Municipal Income Investment Trust
BBF
$179K ﹤0.01%
11,521
-1,000
-8% -$14.8K
ACP
485
abrdn Income Credit Strategies Fund
ACP
$631M
$174K ﹤0.01%
16,411
-80,826
-83% -$810K
MHN
486
DELISTED
BlackRock MuniHoldings New Yrok Quality Fund
MHN
$174K ﹤0.01%
11,590
– –
NEA icon
487
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.36B
$173K ﹤0.01%
12,150
+196
+2% +$2.73K
ARCC icon
488
Ares Capital
ARCC
$13.4B
$172K ﹤0.01%
11,561
-509
-4% -$7.01K
EIM
489
Eaton Vance Municipal Bond Fund
EIM
$494M
$165K ﹤0.01%
12,408
– –
NPF
490
DELISTED
NUVEEN PREMIER MUNI INCOME FD
NPF
$163K ﹤0.01%
11,543
+1,200
+12% +$16.8K
FAM
491
DELISTED
First Trust/abrdn Global Opportunity Income Fund
FAM
$161K ﹤0.01%
14,684
+100
+0.7% +$1.01K
NMZ icon
492
Nuveen Municipal High Income Opportunity Fund
NMZ
$2.2B
$155K ﹤0.01%
11,052
+194
+2% +$2.7K
EMWP
493
DELISTED
Eros Media World PLC
EMWP
$152K ﹤0.01%
+660
New +$113K
CCA
494
DELISTED
MFS California Municipal Fund
CCA
$151K ﹤0.01%
12,315
+100
+0.8% +$1.2K
FHY
495
DELISTED
First Trust Strategic High
FHY
$150K ﹤0.01%
13,181
+309
+2% +$3.31K
NQI
496
DELISTED
NUVEEN QUALITY MUNICIPAL FUND INC
NQI
$148K ﹤0.01%
+10,408
New +$145K
JQC icon
497
Nuveen Credit Strategies Income Fund
JQC
$702M
$128K ﹤0.01%
16,211
– –
CVRR
498
DELISTED
CVR Refining, LP
CVRR
$124K ﹤0.01%
10,252
-296
-3% -$4.2K
MRO
499
DELISTED
Marathon Oil Corporation
MRO
$121K ﹤0.01%
+10,902
New +$102K
OSIR
500
DELISTED
Osiris Therapeutics, Inc. Common Stock
OSIR
$120K ﹤0.01%
21,000
– –
18 19
20
21 22

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Horizon Kinetics's Q1 2016 Portfolio in Review

As of Q1 2016, Horizon Kinetics held 548 positions worth $4.03B, down 13% from $4.64B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Horizon Kinetics withdrew a net $544M in Q1 2016, closing 19 positions and reducing 299 holdings. Its most notable exit was Vanguard Extended Market ETF, an estimated $14.5M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 27% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Energy.

Against the trend, Horizon Kinetics opened a new position in Tortoise Midstream Energy Fund, Inc. Common Stock worth $1.78M.

  • Horizon Kinetics's largest Q1 2016 buy was Tortoise Midstream Energy Fund, Inc. Common Stock: 10,900 shares worth $1.78M.
  • Horizon Kinetics added most to Wheaton Precious Metals in Q1 2016, an estimated $20.3M increase.
  • Horizon Kinetics's biggest Q1 2016 reduction was Liberty Interactive Corporation Series A Liberty Ventures, cutting an estimated $57.4M.
  • Horizon Kinetics fully exited Vanguard Extended Market ETF in Q1 2016, selling an estimated $14.5M.
  • Horizon Kinetics's ten largest holdings make up 47% of its $4.03B portfolio in Q1 2016.
  • Horizon Kinetics opened 39 new positions and closed 19 in Q1 2016.
  • Horizon Kinetics's portfolio value fell 13% quarter-over-quarter to $4.03B.

Based on Horizon Kinetics's 13F filing for Q1 2016, filed 15 Apr 2016.