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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
+2.05%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.99B
AUM Growth
+$70.2M
Cap. Flow
-$216M
Cap. Flow %
-2.7%
Top 10 Hldgs %
46.14%
Holding
560
New
27
Increased
223
Reduced
183
Closed
26

Top Buys

Rank Stock Value
1
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$123M
2
ESI icon
Element Solutions
ESI
+$64.4M
3
WEN icon
Wendy's
WEN
+$43.8M
4
SHLD
Sears Holding Corporation
SHLD
+$43.3M
5
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
+$17.4M

Top Sells

Rank Stock Value
1
MA icon
Mastercard
MA
+$242M
2
JEF icon
Jefferies Financial Group
JEF
+$45.7M
3
AN icon
AutoNation
AN
+$32.5M
4
FDO
FAMILY DOLLAR STORES
FDO
+$24.4M
5
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$24.4M

Sector Composition

Rank Sector Weight
1 Communication Services 25.96%
2 Consumer Discretionary 19.99%
3 Real Estate 13.26%
4 Financials 10.66%
5 Energy 8.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FMY
526
First Trust Mortgage Income Fund
FMY
$48.9M
– –
-10,198
Closed -$159K
FXI icon
527
iShares China Large-Cap ETF
FXI
$4.32B
– –
-20,014
Closed -$768K
GXC icon
528
State Street SPDR S&P China ETF
GXC
$456M
– –
-20,575
Closed -$1.6M
LBTYA icon
529
Liberty Global Class A
LBTYA
$3.59B
– –
-17,702
Closed -$650K
PENN icon
530
PENN Entertainment
PENN
$2.84B
– –
-37,673
Closed -$540K
SPY icon
531
State Street SPDR S&P 500 ETF Trust
SPY
$771B
– –
-45,532
Closed -$8.41M
SUB icon
532
iShares Short-Term National Muni Bond ETF
SUB
$11.3B
– –
-3,244
Closed -$345K
TECL icon
533
PUT
Direxion Daily Technology Bull 3x ETF
TECL
$4.39B
– –
-1,525,000
Closed -$2.36M
CETV
534
DELISTED
Central European Media Enterprises Ltd
CETV
– –
-160,792
Closed -$617K
TAO
535
DELISTED
Invesco China Real Estate ETF
TAO
– –
-68,383
Closed -$1.37M
SEA
536
DELISTED
Invesco Shipping ETF
SEA
– –
-13,257
Closed -$286K
UCD
537
PUT
DELISTED
PROSHARES ULTRA BLOOMBERG COMMODITY
UCD
– –
-33,800
Closed -$9.07M
AUQ
538
DELISTED
AURICO GOLD INC COM
AUQ
– –
-31,500
Closed -$115K
BEAM
539
DELISTED
BEAM INC COM STK (DE)
BEAM
– –
-15,921
Closed -$1.08M
VPHM
540
DELISTED
VIROPHARMA INC
VPHM
– –
-19,000
Closed -$947K
CHC.WS
541
DELISTED
CHINA HYDROELECTRIC CORP WARRANTS EXP 01/25/2014
CHC.WS
– –
-40,000
Closed –
UBA
542
DELISTED
Urstadt Biddle Properties Inc. Class A
UBA
– –
-29,631
Closed -$547K
XXV
543
DELISTED
IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN
XXV
– –
-337,400
Closed -$14.4M
VXX
544
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-56,419
Closed -$38.4M
18 19 20 21
22

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Horizon Kinetics's Q1 2014 Portfolio in Review

As of Q1 2014, Horizon Kinetics held 560 positions worth $7.99B, up 0.89% from $7.92B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Horizon Kinetics's Q1 2014 filing shows 27 new, 223 increased, 183 reduced and 26 closed positions. Its largest new stake was Element Solutions: 3,553,037 shares worth $67.7M. The largest sale was Mastercard, an estimated $242M.

By sector, the portfolio is most concentrated in Communication Services at 26% of assets, down from 28% a quarter earlier, followed by Consumer Discretionary and Real Estate.

  • Horizon Kinetics's largest Q1 2014 buy was Element Solutions: 3,553,037 shares worth $67.7M.
  • Horizon Kinetics added most to Liberty Interactive Corporation Series A Liberty Ventures in Q1 2014, an estimated $123M increase.
  • Horizon Kinetics's biggest Q1 2014 reduction was Mastercard, cutting an estimated $242M.
  • Horizon Kinetics fully exited IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN in Q1 2014, selling an estimated $14.4M.
  • Horizon Kinetics's ten largest holdings make up 46% of its $7.99B portfolio in Q1 2014.
  • Horizon Kinetics opened 27 new positions and closed 26 in Q1 2014.
  • Horizon Kinetics's portfolio value rose 0.89% quarter-over-quarter to $7.99B.

Based on Horizon Kinetics's 13F filing for Q1 2014, filed 14 May 2014.