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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
+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

Top Buys

Rank Stock Value
1
LXU icon
LSB Industries
LXU
+$25M
2
LBRDK
Liberty Broadband Class C
LBRDK
+$22.4M
3
TPH
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
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
+$98.4M
2
HHH icon
Howard Hughes
HHH
+$44.7M
3
FWONK icon
Liberty Media Series C
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
VIXM icon
526
CALL
ProShares VIX Mid-Term Futures ETF
VIXM
$154M
– –
-1,074,300
Closed -$27M
VMO icon
527
Invesco Municipal Opportunity Trust
VMO
$654M
– –
-13,563
Closed -$174K
SCU
528
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
– –
-1,120
Closed -$131K
APC
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
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
535
CALL
DELISTED
IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN
XXV
– –
-3,353,500
Closed -$67.3M
XXV
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.