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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
-12.27%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$5.51B
AUM Growth
-$1.44B
(-21%)
Cap. Flow
-$1.12B
Cap. Flow
% of AUM
-20.39%
Top 10 Holdings %
Top 10 Hldgs %
47.53%
Holding
537
New
22
Increased
90
Reduced
325
Closed
33
Avg Time Held Equity + Options
7.2
quarters
Top 10 Avg Time Held Equity + Options
6
quarters
Top 20 Avg Time Held Equity + Options
6.4
quarters
Avg Time Held Equity only
7.3
quarters
Top 10 Avg Time Held Equity only
6.8
quarters
Top 20 Avg Time Held Equity only
6.9
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wheaton Precious Metals
WPM
|
+$24.5M |
| 2 |
EMG
Emergent Capital, Inc.
EMG
|
+$11.7M |
| 3 |
PayPal
PYPL
|
+$7.36M |
| 4 |
LSB Industries
LXU
|
+$7.07M |
| 5 |
Texas Pacific Land
TPL
|
+$6.76M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JAH
JARDEN CORPORATION
JAH
|
+$165M |
| 2 |
Wendy's
WEN
|
+$110M |
| 3 |
AutoNation
AN
|
+$64.5M |
| 4 |
Brookfield
BN
|
+$59.7M |
| 5 |
Howard Hughes
HHH
|
+$42.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 24.89% |
| 2 | Consumer Discretionary | 18.26% |
| 3 | Miscellaneous | 15.56% |
| 4 | Real Estate | 10.95% |
| 5 | Energy | 9.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Wynn Resorts
WYNN
$7.55B
| $12.9M | 0.23% |
243,621
-33,044
| -12% | -$2.87M |
2013 Q2
9 quarters
|
|
52
DoubleLine Opportunistic Credit Fund
DBL
$264M
| $12.9M | 0.23% |
517,081
-7,487
| -1% | -$178K |
2013 Q3
8 quarters
|
|
53
PIMCO Dynamic Income Fund
PDI
$6.66B
| $12.7M | 0.23% |
442,427
-86,331
| -16% | -$2.48M |
2013 Q2
9 quarters
|
|
54
Par Pacific Holdings
PARR
$4.47B
| $12.7M | 0.23% |
610,767
-622,224
| -50% | -$12M |
2014 Q3
4 quarters
|
|
55
Visa
V
$739B
| $12.3M | 0.22% |
175,960
-154,850
| -47% | -$11.1M |
2013 Q2
9 quarters
|
|
56
Equity Lifestyle Properties
ELS
$11.6B
| $12.1M | 0.22% |
414,094
-114,854
| -22% | -$3.27M |
2013 Q2
9 quarters
|
|
57
PIMCO Income Strategy Fund II
PFN
$605M
| $12M | 0.22% |
1,360,514
-147,431
| -10% | -$1.36M |
2013 Q2
9 quarters
|
|
|
EMG
58
DELISTED
Emergent Capital, Inc.
EMG
| $12M | 0.22% |
+2,199,813
| New | +$11.7M |
2015 Q3
0 quarters
|
|
59
MGM Resorts International
MGM
$7.27B
| $11.6M | 0.21% |
629,610
-136,603
| -18% | -$2.73M |
2013 Q2
9 quarters
|
|
60
Williams Companies
WMB
$89.9B
| $10.5M | 0.19% |
286,271
-5,596
| -2% | -$279K |
2013 Q2
9 quarters
|
|
61
Restaurant Brands International
QSR
$25B
| $10.4M | 0.19% |
289,853
-164,631
| -36% | -$6.53M |
2014 Q4
3 quarters
|
|
|
PKO
62
DELISTED
Pimco Income Opportunity Fund
PKO
| $10.2M | 0.19% |
447,254
-54,991
| -11% | -$1.28M |
2013 Q2
9 quarters
|
|
63
DoubleLine Income Solutions Fund
DSL
$1.11B
| $10.2M | 0.19% |
589,762
-23,953
| -4% | -$451K |
2013 Q2
9 quarters
|
|
64
Cresud
CRESY
$803M
| $9.94M | 0.18% |
1,141,390
-4,359
| -0.4% | -$42.9K |
2013 Q2
9 quarters
|
|
65
Viasat
VSAT
$8.45B
| $9.39M | 0.17% |
146,131
-38,722
| -21% | -$2.36M |
2013 Q2
9 quarters
|
|
66
Mastercard
MA
$531B
| $9.18M | 0.17% |
101,880
-83,859
| -45% | -$7.88M |
2013 Q2
9 quarters
|
|
|
SHOS
67
DELISTED
Sears Hometown and Outlet Stores, Inc.
SHOS
| $9.18M | 0.17% |
1,146,356
-406,312
| -26% | -$3.29M |
2013 Q2
9 quarters
|
|
68
WisdomTree
WT
$3.18B
| $9.16M | 0.17% |
567,742
-71,327
| -11% | -$1.5M |
2013 Q2
9 quarters
|
|
69
HEICO Corp Class A
HEI.A
$31.2B
| $8.66M | 0.16% |
465,374
-10,390
| -2% | -$195K |
2013 Q3
8 quarters
|
|
70
CALL
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$253M
| – | – |
0
| – | – |
2015 Q1
2 quarters
|
|
|
TWX
71
DELISTED
Time Warner Inc
TWX
| $6.55M | 0.12% |
95,218
-191,901
| -67% | -$15.1M |
2013 Q2
9 quarters
|
|
|
AFSI
72
DELISTED
AmTrust Financial Services, Inc.
AFSI
| $6.42M | 0.12% |
203,772
-440,804
| -68% | -$14M |
2013 Q2
9 quarters
|
|
|
73
PayPal
PYPL
$47.8B
| $6.38M | 0.12% |
+205,503
| New | +$7.36M |
2015 Q3
0 quarters
|
|
|
DISCK
74
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $6.22M | 0.11% |
256,156
-384,190
| -60% | -$10.7M |
2014 Q3
4 quarters
|
|
75
PIMCO Income Strategy Fund
PFL
$333M
| $6.08M | 0.11% |
628,615
-47,987
| -7% | -$491K |
2013 Q2
9 quarters
|
|
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Horizon Kinetics's Q3 2015 Portfolio in Review
As of Q3 2015, Horizon Kinetics held 537 positions worth $5.51B, down 21% from $6.95B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Horizon Kinetics withdrew a net $1.12B in Q3 2015, closing 33 positions and reducing 325 holdings. Its most notable exit was CSX Corp, an estimated $22.4M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 25% of assets, down from 28% a quarter earlier, followed by Consumer Discretionary and Miscellaneous.
Against the trend, Horizon Kinetics opened a new position in Emergent Capital, Inc. worth $12M.
- Horizon Kinetics's largest Q3 2015 buy was Emergent Capital, Inc.: 2,199,813 shares worth $12M.
- Horizon Kinetics added most to Wheaton Precious Metals in Q3 2015, an estimated $24.5M increase.
- Horizon Kinetics's biggest Q3 2015 reduction was JARDEN CORPORATION, cutting an estimated $165M.
- Horizon Kinetics fully exited CSX Corp in Q3 2015, selling an estimated $22.4M.
- Horizon Kinetics's ten largest holdings make up 48% of its $5.51B portfolio in Q3 2015.
- Horizon Kinetics opened 22 new positions and closed 33 in Q3 2015.
- Horizon Kinetics's portfolio value fell 21% quarter-over-quarter to $5.51B.
Based on Horizon Kinetics's 13F filing for Q3 2015, filed 13 Nov 2015.