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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
PML
476
PIMCO Municipal Income Fund II
PML
$487M
$230K 0.01%
16,500
– –
OIA icon
477
Invesco Municipal Income Opportunities Trust
OIA
$293M
$227K 0.01%
27,874
– –
EVY
478
DELISTED
Eaton Vance New York Municipal Income Trust
EVY
$227K 0.01%
15,321
– –
PMO
479
Franklin Municipal Opportunities Trust
PMO
$282M
$217K 0.01%
16,234
– –
GENZ
480
VanEck Digital Native Economy ETF
GENZ
$17.4M
$216K 0.01%
6,874
-217
-3% -$7.13K
HEI.A icon
481
HEICO Corp Class A
HEI.A
$36B
$215K 0.01%
+7,844
New +$207K
EMWP
482
DELISTED
Eros Media World PLC
EMWP
$214K 0.01%
658
-2
-0.3% -$524
CRESY
483
Cresud
CRESY
$806M
$210K 0.01%
16,711
-1,076,250
-98% -$11.1M
GCI
484
DELISTED
Gannett Co., Inc
GCI
$205K 0.01%
14,809
-9,888
-40% -$153K
DUC
485
DELISTED
Duff & Phelps Utility & Corporate Bond Trust
DUC
$203K 0.01%
20,850
– –
NEA icon
486
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.36B
$202K 0.01%
13,483
+1,333
+11% +$19.6K
MHN
487
DELISTED
BlackRock MuniHoldings New Yrok Quality Fund
MHN
$188K ﹤0.01%
12,240
+650
+6% +$9.87K
RELY
488
DELISTED
Real Industry, Inc.
RELY
$181K ﹤0.01%
23,300
-200
-0.9% -$1.62K
EIM
489
Eaton Vance Municipal Bond Fund
EIM
$494M
$176K ﹤0.01%
12,408
– –
CPN
490
DELISTED
Calpine Corporation
CPN
$174K ﹤0.01%
11,798
– –
NPF
491
DELISTED
NUVEEN PREMIER MUNI INCOME FD
NPF
$174K ﹤0.01%
11,543
– –
CCA
492
DELISTED
MFS California Municipal Fund
CCA
$171K ﹤0.01%
12,315
– –
FAM
493
DELISTED
First Trust/abrdn Global Opportunity Income Fund
FAM
$167K ﹤0.01%
14,600
-84
-0.6% -$927
NMZ icon
494
Nuveen Municipal High Income Opportunity Fund
NMZ
$2.2B
$164K ﹤0.01%
11,052
– –
JQC icon
495
Nuveen Credit Strategies Income Fund
JQC
$702M
$160K ﹤0.01%
19,861
+3,650
+23% +$29.1K
FHY
496
DELISTED
First Trust Strategic High
FHY
$158K ﹤0.01%
13,181
– –
ARCC icon
497
Ares Capital
ARCC
$13.4B
$144K ﹤0.01%
10,162
-1,399
-12% -$20.8K
UVXY icon
498
CALL
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$259M
– –
0
– –
FRO icon
499
Frontline
FRO
$8.71B
$139K ﹤0.01%
+17,700
New +$145K
MACK
500
DELISTED
Merrimack Pharmaceuticals, Inc.
MACK
$135K ﹤0.01%
3,178
– –
18 19
20
21 22

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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.