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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
+11.53%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.3B
AUM Growth
+$469M
Cap. Flow
-$333M
Cap. Flow %
-4.57%
Top 10 Hldgs %
48.05%
Holding
574
New
118
Increased
114
Reduced
223
Closed
34

Top Buys

Rank Stock Value
1
QVCGA
QVC Group Inc Series A
QVCGA
+$14.9M
2
SHLD
Sears Holding Corporation
SHLD
+$14M
3
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
+$10.4M
4
VIAB
Viacom Inc. Class B
VIAB
+$9.77M
5
DSL
DoubleLine Income Solutions Fund
DSL
+$7.65M

Top Sells

Rank Stock Value
1
ELS icon
Equity Lifestyle Properties
ELS
+$87M
2
CBOE icon
Cboe Global Markets
CBOE
+$34.7M
3
JCP
J.C. Penney Company, Inc.
JCP
+$15.5M
4
HHH icon
Howard Hughes
HHH
+$14.9M
5
RSE
ROUSE PPTYS INC COM (DE)
RSE
+$14.8M

Sector Composition

Rank Sector Weight
1 Communication Services 28.72%
2 Consumer Discretionary 19.44%
3 Real Estate 13.82%
4 Financials 12.64%
5 Energy 7.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
V icon
51
Visa
V
$677B
$17.6M 0.24%
368,392
-12,032
-3% -$556K
VNO icon
52
Vornado Realty Trust
VNO
$7.65B
$17.5M 0.24%
284,685
+2,023
+0.7% +$125K
CNQ icon
53
Canadian Natural Resources
CNQ
$96.9B
$16.2M 0.22%
1,064,627
-119,440
-10% -$1.79M
MSGS icon
54
Madison Square Garden
MSGS
$9.59B
$15.8M 0.22%
382,199
+12,262
+3% +$516K
LEN icon
55
Lennar Class A
LEN
$20.4B
$15.5M 0.21%
461,188
+5,502
+1% +$178K
UNP icon
56
Union Pacific
UNP
$174B
$15.2M 0.21%
196,174
-462
-0.2% -$36.5K
VSAT icon
57
Viasat
VSAT
$9.67B
$14.8M 0.2%
233,313
-6,719
-3% -$449K
MSM icon
58
MSC Industrial Direct
MSM
$6.76B
$14.8M 0.2%
182,114
-634
-0.3% -$50.5K
TTM
59
DELISTED
Tata Motors Limited
TTM
$14.4M 0.2%
541,525
– –
PFN
60
PIMCO Income Strategy Fund II
PFN
$695M
$14.4M 0.2%
1,412,449
+15,771
+1% +$160K
PM icon
61
Philip Morris
PM
$309B
$14.2M 0.19%
163,634
+7,445
+5% +$651K
AIG icon
62
American International
AIG
$42.5B
$13.7M 0.19%
281,389
-15,825
-5% -$752K
PKO
63
DELISTED
Pimco Income Opportunity Fund
PKO
$13.3M 0.18%
484,703
+61,580
+15% +$1.68M
XOM icon
64
ExxonMobil
XOM
$650B
$13M 0.18%
150,786
+1,750
+1% +$158K
GLRE icon
65
Greenlight Captial
GLRE
$579M
$12.7M 0.17%
447,749
-89,882
-17% -$2.43M
BX icon
66
Blackstone
BX
$104B
$12.2M 0.17%
499,161
-17,544
-3% -$390K
SU icon
67
Suncor Energy
SU
$77.7B
$11.7M 0.16%
328,120
-396
-0.1% -$13.2K
NYX
68
DELISTED
NYSE EURONEXT INC
NYX
$11.3M 0.16%
269,893
-17,182
-6% -$721K
NPP
69
DELISTED
NUVEEN PERFORMANCE+MUN FUND
NPP
$11.3M 0.15%
836,030
-42,091
-5% -$564K
PDI icon
70
PIMCO Dynamic Income Fund
PDI
$7.35B
$11.1M 0.15%
386,183
+64,083
+20% +$1.79M
BAC icon
71
Bank of America
BAC
$429B
$10.2M 0.14%
740,259
+3,700
+0.5% +$52.8K
IPAR icon
72
Interparfums
IPAR
$4.07B
$10.1M 0.14%
337,704
-99,579
-23% -$3.02M
BKW
73
DELISTED
BURGER KING WORLDWIDE
BKW
$9.99M 0.14%
511,891
-953
-0.2% -$18.8K
NSC icon
74
Norfolk Southern
NSC
$75.4B
$9.72M 0.13%
125,615
+115
+0.1% +$8.62K
WMB icon
75
Williams Companies
WMB
$85.8B
$9.67M 0.13%
265,901
+1,249
+0.5% +$43.8K
1 2
3
4 5

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Horizon Kinetics's Q3 2013 Portfolio in Review

As of Q3 2013, Horizon Kinetics held 574 positions worth $7.3B, up 6.9% from $6.83B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Horizon Kinetics withdrew a net $333M in Q3 2013, closing 34 positions and reducing 223 holdings. Its most notable exit was State Street SPDR Bloomberg High Yield Bond ETF, an estimated $3.36M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 29% of assets, up from 27% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Horizon Kinetics opened a new position in HEICO Corp Class A worth $6.53M.

  • Horizon Kinetics's largest Q3 2013 buy was HEICO Corp Class A: 397,546 shares worth $6.53M.
  • Horizon Kinetics added most to QVC Group Inc Series A in Q3 2013, an estimated $14.9M increase.
  • Horizon Kinetics's biggest Q3 2013 reduction was Equity Lifestyle Properties, cutting an estimated $87M.
  • Horizon Kinetics fully exited State Street SPDR Bloomberg High Yield Bond ETF in Q3 2013, selling an estimated $3.36M.
  • Horizon Kinetics's ten largest holdings make up 48% of its $7.3B portfolio in Q3 2013.
  • Horizon Kinetics opened 118 new positions and closed 34 in Q3 2013.
  • Horizon Kinetics's portfolio value rose 6.9% quarter-over-quarter to $7.3B.

Based on Horizon Kinetics's 13F filing for Q3 2013, filed 14 Nov 2013.