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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
+11.53%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.3B
AUM Growth
+$469M
Cap. Flow
-$327M
Cap. Flow %
-4.48%
Top 10 Hldgs %
48.05%
Holding
574
New
118
Increased
114
Reduced
223
Closed
34

Top Buys

Rank Stock Value
1
QVCGA
QVC Group Inc Series A
QVCGA
+$14.9M
2
SHLD
Sears Holding Corporation
SHLD
+$14M
3
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
+$10.4M
4
VIAB
Viacom Inc. Class B
VIAB
+$9.77M
5
DSL
DoubleLine Income Solutions Fund
DSL
+$7.65M

Top Sells

Rank Stock Value
1
ELS icon
Equity Lifestyle Properties
ELS
+$87M
2
CBOE icon
Cboe Global Markets
CBOE
+$34.7M
3
JCP
J.C. Penney Company, Inc.
JCP
+$15.5M
4
HHH icon
Howard Hughes
HHH
+$14.9M
5
RSE
ROUSE PPTYS INC COM (DE)
RSE
+$14.8M

Sector Composition

Rank Sector Weight
1 Communication Services 28.73%
2 Consumer Discretionary 20.62%
3 Financials 13.99%
4 Real Estate 13.82%
5 Energy 8.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HHY
501
DELISTED
Brookfield High Income Fund Inc.
HHY
$127K ﹤0.01%
12,897
– –
SCU
502
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$123K ﹤0.01%
1,120
-120
-10% -$13.2K
MDR
503
DELISTED
McDermott International
MDR
$123K ﹤0.01%
5,516
+18
+0.3% +$427
JHP
504
DELISTED
NUVEEN QUALITY PREFERRED INCOME FUND 3
JHP
$114K ﹤0.01%
14,470
+2,600
+22% +$20.8K
PZC
505
DELISTED
PIMCO California Municipal Income Fund III
PZC
$112K ﹤0.01%
11,931
– –
ASP
506
DELISTED
AMERN STRATEGIC INCOME PORTFOL
ASP
$112K ﹤0.01%
11,449
-2,916
-20% -$28.6K
MEN
507
DELISTED
Blackrock Muni Enhanced Fund, Inc.
MEN
$108K ﹤0.01%
10,198
– –
FRTX
508
DELISTED
Fresh Tracks Therapeutics, Inc. Common Stock
FRTX
$106K ﹤0.01%
27
– –
FLNA
509
Filana Therapeutics
FLNA
$33.6M
$103K ﹤0.01%
5,429
– –
DNDN
510
DELISTED
DENDREON CORPORATION
DNDN
$100K ﹤0.01%
34,000
– –
PPT
511
Franklin Premier Income Trust
PPT
$315M
$94K ﹤0.01%
17,938
-1,750
-9% -$9.23K
PCF
512
High Income Securities Fund
PCF
$98.8M
$89K ﹤0.01%
11,248
-240,352
-96% -$1.88M
CSP
513
DELISTED
AMER STRATEGIC INCM PTFL-III
CSP
$75K ﹤0.01%
10,786
-1,901
-15% -$13K
CYE
514
DELISTED
BLACKROCK CORP HG YLD FD III, INC.
CYE
$73K ﹤0.01%
10,000
– –
CASC
515
DELISTED
Cascadian Therapeutics, Inc.
CASC
$67K ﹤0.01%
5,389
– –
PACB icon
516
Pacific Biosciences
PACB
$417M
$66K ﹤0.01%
12,000
– –
STRP
517
DELISTED
Straight Path Communications Inc.
STRP
$55K ﹤0.01%
+10,439
New +$54.2K
WYY icon
518
WidePoint Corp
WYY
$112M
$34K ﹤0.01%
3,816
-90
-2% -$760
GCVRZ
519
DELISTED
Sanofi Contingent Value Rights
GCVRZ
$32K ﹤0.01%
15,940
+402
+3% +$766
CSCI
520
DELISTED
COSCIENS Biopharma Inc. Common Stock
CSCI
$26K ﹤0.01%
2
– –
CNS icon
521
Cohen & Steers
CNS
$3.72B
– –
-10,000
Closed -$340K
CTSH icon
522
Cognizant
CTSH
$28.5B
– –
-22,800
Closed -$714K
HYG icon
523
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.1B
– –
-35,434
Closed -$3.22M
INFY icon
524
Infosys
INFY
$45.8B
– –
-96,000
Closed -$494K
IRM icon
525
Iron Mountain
IRM
$33.4B
– –
-43,763
Closed -$1.08M
19 20
21
22 23

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Horizon Kinetics's Q3 2013 Portfolio in Review

As of Q3 2013, Horizon Kinetics held 574 positions worth $7.3B, up 6.9% from $6.83B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Horizon Kinetics withdrew a net $327M in Q3 2013, closing 34 positions and reducing 223 holdings. Its most notable exit was State Street SPDR Bloomberg High Yield Bond ETF, an estimated $3.36M position sold in full.

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

Against the trend, Horizon Kinetics opened a new position in HEICO Corp Class A worth $6.53M.

  • Horizon Kinetics's largest Q3 2013 buy was HEICO Corp Class A: 496,933 shares worth $6.53M.
  • Horizon Kinetics added most to QVC Group Inc Series A in Q3 2013, an estimated $14.9M increase.
  • Horizon Kinetics's biggest Q3 2013 reduction was Equity Lifestyle Properties, cutting an estimated $87M.
  • Horizon Kinetics fully exited State Street SPDR Bloomberg High Yield Bond ETF in Q3 2013, selling an estimated $3.36M.
  • Horizon Kinetics's ten largest holdings make up 48% of its $7.3B portfolio in Q3 2013.
  • Horizon Kinetics opened 118 new positions and closed 34 in Q3 2013.
  • Horizon Kinetics's portfolio value rose 6.9% quarter-over-quarter to $7.3B.

Based on Horizon Kinetics's 13F filing for Q3 2013, filed 14 Nov 2013.