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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
+4.89%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$4.64B
AUM Growth
-$872M
Cap. Flow
-$516M
Cap. Flow %
-11.12%
Top 10 Hldgs %
47.49%
Holding
528
New
25
Increased
72
Reduced
320
Closed
20

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$22.8M
2
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$15.9M
3
VOO icon
Vanguard S&P 500 ETF
VOO
+$14.5M
4
VXF icon
Vanguard Extended Market ETF
VXF
+$8.96M
5
FHI icon
Federated Hermes
FHI
+$7.12M

Top Sells

Rank Stock Value
1
JAH
JARDEN CORPORATION
JAH
+$44.2M
2
MSGS icon
Madison Square Garden
MSGS
+$37.1M
3
CBOE icon
Cboe Global Markets
CBOE
+$31.2M
4
TPH
Tri Pointe Homes
TPH
+$29.5M
5
SHLD
Sears Holding Corporation
SHLD
+$29.2M

Sector Composition

Rank Sector Weight
1 Communication Services 28.96%
2 Consumer Discretionary 20.09%
3 Real Estate 11.93%
4 Energy 10.58%
5 Financials 8.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TMQ
501
Trilogy Metals
TMQ
$653M
$10K ﹤0.01%
34,450
-4,026
-10% -$1.43K
MDGL icon
502
Madrigal Pharmaceuticals
MDGL
$12.6B
$6K ﹤0.01%
514
– –
GCVRZ
503
DELISTED
Sanofi Contingent Value Rights
GCVRZ
$2K ﹤0.01%
15,940
– –
AN icon
504
PUT
AutoNation
AN
$6.57B
– –
-7,000
Closed -$399K
CSD icon
505
Invesco S&P Spin-Off ETF
CSD
$225M
– –
-6,414
Closed -$245K
HHH icon
506
PUT
Howard Hughes
HHH
$3.88B
– –
-5,874
Closed -$742K
NRK icon
507
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$895M
– –
-11,154
Closed -$140K
SPY icon
508
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$827B
– –
-2,596,500
Closed -$480M
FRTX
509
DELISTED
Fresh Tracks Therapeutics, Inc. Common Stock
FRTX
– –
-27
Closed -$39K
EMWP
510
DELISTED
Eros Media World PLC
EMWP
– –
-632
Closed -$344K
PIR
511
DELISTED
Pier 1 Imports, Inc.
PIR
– –
-725
Closed -$100K
CASC
512
DELISTED
Cascadian Therapeutics, Inc.
CASC
– –
-5,556
Closed -$91K
STRP
513
DELISTED
Straight Path Communications Inc.
STRP
– –
-7,995
Closed -$323K
OSGB
514
DELISTED
OVERSEAS SHIPHOLDING GROUP, INC. COM CL B
OSGB
– –
-32,228
Closed -$99K
ARG
515
DELISTED
Airgas Inc
ARG
– –
-7,637
Closed -$682K
BIE
516
DELISTED
BLACKROCK MUNICIPAL BOND INVESTMENT TRUST
BIE
– –
-11,073
Closed -$159K
JAH
517
PUT
DELISTED
JARDEN CORPORATION
JAH
– –
-14,000
Closed -$700K
NXZ
518
DELISTED
NUVEEN DIV ADV MUNI FD-2
NXZ
– –
-11,033
Closed -$150K
MTS
519
DELISTED
MONTGOMERY STR INCOME SECS
MTS
– –
-27,733
Closed -$483K
TRF
520
DELISTED
TEMPLETON RUSSIA & EAST EURO FD
TRF
– –
-75,123
Closed -$732K
SIAL
521
DELISTED
SIGMA - ALDRICH CORP
SIAL
– –
-21,186
Closed -$2.94M
NBO
522
DELISTED
Neuberger Berman New York Municipal Fund Inc.
NBO
– –
-17,065
Closed -$233K
17 18 19 20
21

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SA
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AC
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OA
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TGA
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PWM
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APFBOT
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RCM
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CFIC
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Horizon Kinetics's Q4 2015 Portfolio in Review

As of Q4 2015, Horizon Kinetics held 528 positions worth $4.64B, down 16% from $5.51B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Horizon Kinetics withdrew a net $516M in Q4 2015, closing 20 positions and reducing 320 holdings. Its most notable exit was SIGMA - ALDRICH CORP, an estimated $2.94M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 29% of assets, up from 25% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Horizon Kinetics opened a new position in Alphabet (Google) Class A worth $23.9M.

  • Horizon Kinetics's largest Q4 2015 buy was Alphabet (Google) Class A: 615,580 shares worth $23.9M.
  • Horizon Kinetics added most to Vanguard Morningstar Total Stock Market ETF in Q4 2015, an estimated $15.9M increase.
  • Horizon Kinetics's biggest Q4 2015 reduction was JARDEN CORPORATION, cutting an estimated $44.2M.
  • Horizon Kinetics fully exited SIGMA - ALDRICH CORP in Q4 2015, selling an estimated $2.94M.
  • Horizon Kinetics's ten largest holdings make up 47% of its $4.64B portfolio in Q4 2015.
  • Horizon Kinetics opened 25 new positions and closed 20 in Q4 2015.
  • Horizon Kinetics's portfolio value fell 16% quarter-over-quarter to $4.64B.

Based on Horizon Kinetics's 13F filing for Q4 2015, filed 12 Feb 2016.