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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
-$379M
Cap. Flow %
-4.74%
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 25.45%
2 Consumer Discretionary 20.47%
3 Real Estate 13.74%
4 Financials 9.28%
5 Energy 9.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WT icon
51
WisdomTree
WT
$2.79B
$19.5M 0.24%
1,576,196
-247,369
-14% -$2.8M
PDI icon
52
PIMCO Dynamic Income Fund
PDI
$7.35B
$19.4M 0.24%
568,953
+89,178
+19% +$2.91M
UNP icon
53
Union Pacific
UNP
$174B
$19.4M 0.24%
194,354
-142
-0.1% -$13.8K
BRK.A icon
54
Berkshire Hathaway Class A
BRK.A
$1.1T
$18.8M 0.24%
99
-3
-3% -$569K
V icon
55
Visa
V
$701B
$18.8M 0.23%
356,248
-12,392
-3% -$648K
WMB icon
56
Williams Companies
WMB
$85.8B
$18.1M 0.23%
310,342
+4,855
+2% +$225K
PFN
57
PIMCO Income Strategy Fund II
PFN
$695M
$18.1M 0.23%
1,632,250
+68,639
+4% +$737K
PKO
58
DELISTED
Pimco Income Opportunity Fund
PKO
$17.8M 0.22%
608,959
+75
+0% +$2.16K
LEN icon
59
Lennar Class A
LEN
$20.4B
$17.7M 0.22%
442,079
-20,248
-4% -$768K
SNI
60
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
$17.5M 0.22%
216,275
-37,405
-15% -$2.86M
AFSI
61
DELISTED
AmTrust Financial Services, Inc.
AFSI
$17.3M 0.22%
829,666
+66,300
+9% +$1.36M
DSL
62
DoubleLine Income Solutions Fund
DSL
$1.22B
$17.3M 0.22%
771,067
+74,471
+11% +$1.64M
ARII
63
DELISTED
American Railcar Industries, Inc.
ARII
$16.4M 0.21%
242,361
+61,839
+34% +$3.99M
MSM icon
64
MSC Industrial Direct
MSM
$6.76B
$16.2M 0.2%
169,239
-9,553
-5% -$868K
GGP
65
DELISTED
GGP Inc.
GGP
$16M 0.2%
679,842
-192,652
-22% -$4.47M
GLRE icon
66
Greenlight Captial
GLRE
$579M
$15.3M 0.19%
464,172
+7,016
+2% +$227K
BX icon
67
Blackstone
BX
$104B
$14.6M 0.18%
444,448
-49,861
-10% -$1.54M
VNO icon
68
Vornado Realty Trust
VNO
$7.65B
$14.3M 0.18%
183,717
-30,773
-14% -$2.34M
CRESY
69
Cresud
CRESY
$806M
$13.3M 0.17%
1,154,425
+300
+0% +$3.1K
NSC icon
70
Norfolk Southern
NSC
$75.4B
$12.9M 0.16%
125,145
-526
-0.4% -$51.6K
NPP
71
DELISTED
NUVEEN PERFORMANCE+MUN FUND
NPP
$12.8M 0.16%
874,553
-14,543
-2% -$213K
BKW
72
DELISTED
BURGER KING WORLDWIDE
BKW
$12.7M 0.16%
467,628
-36,219
-7% -$939K
VSAT icon
73
Viasat
VSAT
$9.67B
$12.3M 0.15%
212,948
-173
-0.1% -$10.4K
ICE icon
74
Intercontinental Exchange
ICE
$87.2B
$11.5M 0.14%
303,745
-75,005
-20% -$2.92M
BAC icon
75
Bank of America
BAC
$429B
$11.4M 0.14%
744,957
+4,000
+0.5% +$62.1K
1 2
3
4 5

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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 $379M 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.