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Horizon Kinetics

Horizon Kinetics Portfolio holdings

AUM $3.06B Turnover 11.22%
1-Year Est. Return 5.37%
This Fund
S&P 500
This Quarter Est. Return
+8.02%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.26B
AUM Growth
-$147M
Cap. Flow
-$607M
Cap. Flow %
-8.37%
Top 10 Hldgs %
45.64%
Holding
547
New
27
Increased
111
Reduced
327
Closed
26
Avg Time Held Equity + Options
1.4 years
Top 10 Avg Time Held Equity + Options
1.3 years
Top 20 Avg Time Held Equity + Options
1.3 years
Avg Time Held Equity only
1.4 years
Top 10 Avg Time Held Equity only
1.3 years
Top 20 Avg Time Held Equity only
1.3 years

Top Buys

Rank Stock Value
1
LXU icon
LSB Industries
LXU
+$25M
2
LBRDK icon
Liberty Broadband Class C
LBRDK
+$22.4M
3
TPH icon
Tri Pointe Homes
TPH
+$11.6M
4
RGLD icon
Royal Gold
RGLD
+$11M
5
WBD icon
Warner Bros
WBD
+$2.7M

Top Sells

Rank Stock Value
1
BRP icon
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
+$98.4M
2
HHH icon
Howard Hughes
HHH
+$44.7M
3
FWONK icon
Liberty Media Corporation Series C Common Stock
FWONK
+$29.3M
4
IEP icon
Icahn Enterprises
IEP
+$26.6M
5
ELS icon
Equity Lifestyle Properties
ELS
+$22.9M

Sector Composition

Rank Sector Weight
1 Communication Services 26.13%
2 Consumer Discretionary 22.18%
3 Real Estate 12.53%
4 Energy 9.59%
5 Financials 9.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
VIXM icon
526
CALL
ProShares VIX Mid-Term Futures ETF
VIXM
$48.5M
– –
-1,074,300
Closed -$27M –
VMO icon
527
Invesco Municipal Opportunity Trust
VMO
$587M
– –
-13,563
Closed -$174K –
SCU
528
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
– –
-1,120
Closed -$131K –
APC icon
529
DELISTED
Anadarko Petroleum
APC
– –
-3,000
Closed -$248K –
FNFV
530
DELISTED
Fidelity Natl Financial, Inc.
FNFV
– –
-13,159
Closed -$158K –
MENT
531
DELISTED
Mentor Graphics Corp
MENT
– –
-39,129
Closed -$858K –
FDO
532
DELISTED
FAMILY DOLLAR STORES
FDO
– –
-11,132
Closed -$882K –
BRP icon
533
DELISTED
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
– –
-4,088,962
Closed -$98.4M –
CBST
534
DELISTED
CUBIST PHARMACEUTICALS INC
CBST
– –
-19,000
Closed -$1.91M –
XXV icon
535
CALL
DELISTED
IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN
XXV
– –
-3,353,500
Closed -$67.3M –
XXV icon
536
PUT
DELISTED
IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN
XXV
– –
-1,119,000
Closed -$27.2M –
18 19 20 21
22

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Horizon Kinetics's Q1 2015 Portfolio in Review

As of Q1 2015, Horizon Kinetics held 547 positions worth $7.26B, down 2% from $7.4B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Horizon Kinetics withdrew a net $607M in Q1 2015, closing 26 positions and reducing 327 holdings. Its most notable exit was BROOKFIELD RESIDENTIAL PROPERTIES INC, an estimated $98.4M position sold in full.

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

Against the trend, Horizon Kinetics opened a new position in LSB Industries worth $29.1M.

  • Horizon Kinetics's largest Q1 2015 buy was LSB Industries: 915,719 shares worth $29.1M.
  • Horizon Kinetics added most to Liberty Broadband Class C in Q1 2015, an estimated $22.4M increase.
  • Horizon Kinetics's biggest Q1 2015 reduction was Howard Hughes, cutting an estimated $44.7M.
  • Horizon Kinetics fully exited BROOKFIELD RESIDENTIAL PROPERTIES INC in Q1 2015, selling an estimated $98.4M.
  • Horizon Kinetics's ten largest holdings make up 46% of its $7.26B portfolio in Q1 2015.
  • Horizon Kinetics opened 27 new positions and closed 26 in Q1 2015.
  • Horizon Kinetics's portfolio value fell 2% quarter-over-quarter to $7.26B.

Based on Horizon Kinetics's 13F filing for Q1 2015, filed 15 May 2015.