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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
CLDX icon
501
Celldex Therapeutics
CLDX
$2.94B
$115K ﹤0.01%
1,756
– –
OSIR
502
DELISTED
Osiris Therapeutics, Inc. Common Stock
OSIR
$107K ﹤0.01%
21,000
– –
BRW
503
Saba Capital Income & Opportunities Fund
BRW
$336M
$105K ﹤0.01%
10,214
– –
CXE
504
DELISTED
MFS High Income Municipal Trust
CXE
$92K ﹤0.01%
16,762
– –
PWE
505
DELISTED
Penn West Energy Petroleum Ltd
PWE
$87K ﹤0.01%
62,562
+100
+0.2% +$100
PACB icon
506
Pacific Biosciences
PACB
$435M
$84K ﹤0.01%
12,000
– –
CVRR
507
DELISTED
CVR Refining, LP
CVRR
$79K ﹤0.01%
10,204
-48
-0.5% -$505
ARNA
508
DELISTED
Arena Pharmaceuticals Inc
ARNA
$77K ﹤0.01%
4,500
– –
MHY
509
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
$68K ﹤0.01%
14,400
– –
DSU icon
510
BlackRock Debt Strategies Fund
DSU
$592M
$63K ﹤0.01%
5,987
– –
MFIC icon
511
MidCap Financial Investment
MFIC
$801M
$62K ﹤0.01%
3,750
-1,000
-21% -$16.7K
LTS
512
DELISTED
Ladenburg Thalmann Financial Services Inc
LTS
$34K ﹤0.01%
14,700
– –
TMQ
513
Trilogy Metals
TMQ
$504M
$16K ﹤0.01%
31,958
-1,120
-3% -$585
MDGL icon
514
Madrigal Pharmaceuticals
MDGL
$12.6B
$5K ﹤0.01%
514
– –
GCVRZ
515
DELISTED
Sanofi Contingent Value Rights
GCVRZ
$4K ﹤0.01%
15,940
– –
ACP
516
abrdn Income Credit Strategies Fund
ACP
$631M
– –
-16,411
Closed -$174K
ITW icon
517
Illinois Tool Works
ITW
$84.1B
– –
-4,997
Closed -$512K
MAS icon
518
Masco
MAS
$14.3B
– –
-10,600
Closed -$333K
TRS icon
519
TriMas Corp
TRS
$1.41B
– –
-11,000
Closed -$193K
UAA icon
520
Under Armour
UAA
$3.01B
– –
-11,993
Closed -$505K
VNQ icon
521
Vanguard Real Estate ETF
VNQ
$39.9B
– –
-23
Closed -$2K
VO icon
522
Vanguard Morningstar Mid-Cap ETF
VO
$106B
– –
-7,804
Closed -$237K
VYX icon
523
NCR Voyix
VYX
$1.19B
– –
-890
Closed -$16K
TRAW icon
524
Traws Pharma
TRAW
$7.34M
– –
0
– -$14K
MRO
525
DELISTED
Marathon Oil Corporation
MRO
– –
-10,902
Closed -$121K
18 19 20
21
22

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RCM
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CFIC
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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.