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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
+9.31%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.57B
AUM Growth
-$403M
Cap. Flow
-$692M
Cap. Flow %
-19.38%
Top 10 Hldgs %
51.47%
Holding
532
New
11
Increased
75
Reduced
332
Closed
23

Top Buys

Rank Stock Value
1
AMCX icon
AMC Global Media
AMCX
+$11.6M
2
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$7.8M
3
TPL icon
Texas Pacific Land
TPL
+$5.18M
4
FHI icon
Federated Hermes
FHI
+$4.69M
5
NVGS icon
Navigator Holdings
NVGS
+$3.49M

Top Sells

Rank Stock Value
1
DWA
DREAMWORKS ANIMATION SKG INC CL-A
DWA
+$198M
2
NWL icon
Newell Brands
NWL
+$34.2M
3
RSE
ROUSE PPTYS INC COM (DE)
RSE
+$24.7M
4
HHH icon
Howard Hughes
HHH
+$17.3M
5
BBWI icon
Bath & Body Works
BBWI
+$9.58M

Sector Composition

Rank Sector Weight
1 Communication Services 17.69%
2 Energy 17.27%
3 Consumer Discretionary 14.23%
4 Real Estate 12.22%
5 Financials 9.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GCVRZ
501
DELISTED
Sanofi Contingent Value Rights
GCVRZ
$4K ﹤0.01%
15,940
– –
ADM icon
502
Archer Daniels Midland
ADM
$38.7B
– –
-25,982
Closed -$1.11M
ARCC icon
503
Ares Capital
ARCC
$13.4B
– –
-10,162
Closed -$144K
BG icon
504
Bunge Global
BG
$20.9B
– –
-12,690
Closed -$751K
CRESY
505
Cresud
CRESY
$806M
– –
-16,711
Closed -$210K
EWJ icon
506
iShares MSCI Japan ETF
EWJ
$21.2B
– –
-20,401
Closed -$938K
GEN icon
507
Gen Digital
GEN
$16.5B
– –
-26,750
Closed -$549K
MDGL icon
508
Madrigal Pharmaceuticals
MDGL
$12.6B
– –
-514
Closed -$5K
MUJ icon
509
BlackRock MuniHoldings New Jersey Quality Fund
MUJ
$642M
– –
-22,461
Closed -$365K
OIA icon
510
Invesco Municipal Income Opportunities Trust
OIA
$293M
– –
-27,874
Closed -$227K
UVXY icon
511
CALL
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$259M
– –
0
– -$140K
UVXY icon
512
PUT
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$259M
– –
0
– -$787K
WTM icon
513
White Mountains Insurance
WTM
$5.33B
– –
-689
Closed -$580K
MON
514
DELISTED
Monsanto Co
MON
– –
-12,324
Closed -$1.27M
NQM
515
DELISTED
NUVEEN INVESTMENT QLTY MUNI FD
NQM
– –
-24,174
Closed -$404K
NPM
516
DELISTED
NUVEEN PREMIUM INCM MUNI FD II
NPM
– –
-23,317
Closed -$361K
NPI
517
DELISTED
NUVEEN PREMIUN INC MUN FUND
NPI
– –
-22,038
Closed -$340K
NPP
518
DELISTED
NUVEEN PERFORMANCE+MUN FUND
NPP
– –
-353,491
Closed -$5.84M
DWA
519
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
– –
-4,848,112
Closed -$198M
RSE
520
DELISTED
ROUSE PPTYS INC COM (DE)
RSE
– –
-1,352,277
Closed -$24.7M
FHY
521
DELISTED
First Trust Strategic High
FHY
– –
-13,181
Closed -$158K
NPF
522
DELISTED
NUVEEN PREMIER MUNI INCOME FD
NPF
– –
-11,543
Closed -$174K
NMO
523
DELISTED
NUVEEN MUNI MARKET OPPORT FUND
NMO
– –
-186,953
Closed -$2.82M
MHY
524
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
– –
-14,400
Closed -$68K
VXX
525
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-322,144
Closed -$249M
18 19 20
21
22

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CFIC
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Horizon Kinetics's Q3 2016 Portfolio in Review

As of Q3 2016, Horizon Kinetics held 532 positions worth $3.57B, down 10% from $3.98B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Horizon Kinetics withdrew a net $692M in Q3 2016, closing 23 positions and reducing 332 holdings. Its most notable exit was DREAMWORKS ANIMATION SKG INC CL-A, an estimated $198M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 18% of assets, down from 20% a quarter earlier, followed by Energy and Consumer Discretionary.

Against the trend, Horizon Kinetics opened a new position in CommerceHub, Inc. Series C Common Stock worth $1.72M.

  • Horizon Kinetics's largest Q3 2016 buy was CommerceHub, Inc. Series C Common Stock: 108,091 shares worth $1.72M.
  • Horizon Kinetics added most to AMC Global Media in Q3 2016, an estimated $11.6M increase.
  • Horizon Kinetics's biggest Q3 2016 reduction was Newell Brands, cutting an estimated $34.2M.
  • Horizon Kinetics fully exited DREAMWORKS ANIMATION SKG INC CL-A in Q3 2016, selling an estimated $198M.
  • Horizon Kinetics's ten largest holdings make up 51% of its $3.57B portfolio in Q3 2016.
  • Horizon Kinetics opened 11 new positions and closed 23 in Q3 2016.
  • Horizon Kinetics's portfolio value fell 10% quarter-over-quarter to $3.57B.

Based on Horizon Kinetics's 13F filing for Q3 2016, filed 14 Nov 2016.