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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
+4.39%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$8B
AUM Growth
+$3.92M
Cap. Flow
-$424M
Cap. Flow %
-5.3%
Top 10 Hldgs %
46.74%
Holding
554
New
21
Increased
146
Reduced
266
Closed
24

Top Buys

Rank Stock Value
1
ESI icon
Element Solutions
ESI
+$46.1M
2
LE icon
Lands' End
LE
+$38.8M
3
TPH
Tri Pointe Homes
TPH
+$33.3M
4
IEP icon
Icahn Enterprises
IEP
+$10.2M
5
BRP
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
+$5.78M

Top Sells

Rank Stock Value
1
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$128M
2
JEF icon
Jefferies Financial Group
JEF
+$42.3M
3
SHLD
Sears Holding Corporation
SHLD
+$21.3M
4
RSE
ROUSE PPTYS INC COM (DE)
RSE
+$21.3M
5
ASCMA
Ascent Capital Group, Inc. Series A
ASCMA
+$20.7M

Sector Composition

Rank Sector Weight
1 Communication Services 25.48%
2 Consumer Discretionary 21.59%
3 Real Estate 13.75%
4 Financials 10.84%
5 Energy 10.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AVP
526
DELISTED
Avon Products, Inc.
AVP
– –
-12,300
Closed -$180K
STRP
527
DELISTED
Straight Path Communications Inc.
STRP
– –
-10,016
Closed -$74K
NQM
528
DELISTED
NUVEEN INVESTMENT QLTY MUNI FD
NQM
– –
-31,675
Closed -$447K
BABS
529
DELISTED
SPDR NUVEEN BARCLAYS BUILD AMERICA BOND ETF
BABS
– –
-7,247
Closed -$417K
FUR
530
DELISTED
WINTHROP REALTY TRUST SHS BENE INT (NEW)
FUR
– –
-13,435
Closed -$156K
JHP
531
DELISTED
NUVEEN QUALITY PREFERRED INCOME FUND 3
JHP
– –
-12,920
Closed -$108K
PRB
532
DELISTED
VanEck Vectors Pre-Refunded Municipal Index ETF
PRB
– –
-11,394
Closed -$280K
FRX
533
DELISTED
FOREST LABORATORIES INC
FRX
– –
-8,432
Closed -$778K
DVM
534
DELISTED
COHEN & STEERS DIV MAJORS FUND INC
DVM
– –
-11,517
Closed -$178K
NVC
535
DELISTED
NUVEEN CALIF SELECT QUAL MUNI
NVC
– –
-251,719
Closed -$17K
DST
536
DELISTED
DST Systems Inc.
DST
– –
-17,968
Closed -$852K
VXX
537
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-22,363
Closed -$13M
VXX
538
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-202,550
Closed -$137M
18 19 20 21
22

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Horizon Kinetics's Q2 2014 Portfolio in Review

As of Q2 2014, Horizon Kinetics held 554 positions worth $8B, up 0.05% from $7.99B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Horizon Kinetics withdrew a net $424M in Q2 2014, closing 24 positions and reducing 266 holdings. Its most notable exit was Tata Motors Limited, an estimated $19.2M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 25% of assets, down from 26% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Horizon Kinetics opened a new position in Lands' End worth $45.9M.

  • Horizon Kinetics's largest Q2 2014 buy was Lands' End: 1,367,129 shares worth $45.9M.
  • Horizon Kinetics added most to Element Solutions in Q2 2014, an estimated $46.1M increase.
  • Horizon Kinetics's biggest Q2 2014 reduction was Liberty Interactive Corporation Series A Liberty Ventures, cutting an estimated $128M.
  • Horizon Kinetics fully exited Tata Motors Limited in Q2 2014, selling an estimated $19.2M.
  • Horizon Kinetics's ten largest holdings make up 47% of its $8B portfolio in Q2 2014.
  • Horizon Kinetics opened 21 new positions and closed 24 in Q2 2014.
  • Horizon Kinetics's portfolio value rose 0.05% quarter-over-quarter to $8B.

Based on Horizon Kinetics's 13F filing for Q2 2014, filed 14 Aug 2014.