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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
Cap. Flow
-$1.12B
Cap. Flow %
-20.39%
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
WPM icon
Wheaton Precious Metals
WPM
+$24.5M
2
EMG
Emergent Capital, Inc.
EMG
+$11.7M
3
PYPL icon
PayPal
PYPL
+$7.36M
4
LXU icon
LSB Industries
LXU
+$7.07M
5
TPL icon
Texas Pacific Land
TPL
+$6.76M

Top Sells

Rank Stock Value
1
JAH
JARDEN CORPORATION
JAH
+$165M
2
WEN icon
Wendy's
WEN
+$110M
3
AN icon
AutoNation
AN
+$64.5M
4
BN icon
Brookfield
BN
+$59.7M
5
HHH icon
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
IPAR icon
76
Interparfums
IPAR
$3.6B
$5.99M 0.11%
241,317
-100,314
-29% -$2.85M
2013 Q2
9 quarters
TLI
77
DELISTED
Western Asset Corporate Loan Fund Inc.
TLI
$5.92M 0.11%
575,470
-47,557
-8% -$510K
2013 Q2
9 quarters
ARII
78
DELISTED
American Railcar Industries, Inc.
ARII
$5.88M 0.11%
162,545
-18,111
-10% -$744K
2013 Q2
9 quarters
VXF icon
79
Vanguard Extended Market ETF
VXF
$30.4B
$5.61M 0.1%
68,763
+65,793
+2,215% +$5.83M
2014 Q1
6 quarters
CME icon
80
CME Group
CME
$99.7B
$5.53M 0.1%
59,636
-11,990
-17% -$1.14M
2013 Q2
9 quarters
SAND icon
81
DELISTED
Sandstorm Gold
SAND
$5.27M 0.1%
1,973,935
-152,407
-7% -$417K
2014 Q4
3 quarters
LEN icon
82
Lennar Class A
LEN
$17.8B
$5.26M 0.1%
114,771
-154,195
-57% -$7.57M
2013 Q2
9 quarters
EBAY icon
83
eBay
EBAY
$51B
$5.18M 0.09%
211,973
-268,587
-56% -$7.22M
2013 Q2
9 quarters
PAG icon
84
Penske Automotive Group
PAG
$12.8B
$4.97M 0.09%
102,575
-10,350
-9% -$530K
2013 Q2
9 quarters
LBTYK icon
85
Liberty Global Class C
LBTYK
$2.86B
$4.78M 0.09%
134,351
-55,057
-29% -$2.22M
2013 Q2
9 quarters
DHR icon
86
Danaher
DHR
$156B
$4.36M 0.08%
76,055
-12,690
-14% -$750K
2013 Q2
9 quarters
KHC icon
87
The Kraft Heinz Company
KHC
$26.6B
$4.28M 0.08%
+60,613
New +$4.58M
2015 Q3
0 quarters
NPP
88
DELISTED
NUVEEN PERFORMANCE+MUN FUND
NPP
$4.2M 0.08%
296,062
-160,063
-35% -$2.25M
2013 Q2
9 quarters
GLRE icon
89
Greenlight Captial
GLRE
$490M
$4.1M 0.07%
184,169
-28,281
-13% -$740K
2013 Q2
9 quarters
GGP
90
DELISTED
GGP Inc.
GGP
$4M 0.07%
154,140
-70,135
-31% -$1.84M
2013 Q2
9 quarters
LE icon
91
Lands' End
LE
$310M
$3.96M 0.07%
146,408
-144,955
-50% -$3.63M
2014 Q2
5 quarters
XOM icon
92
ExxonMobil
XOM
$708B
$3.95M 0.07%
53,106
+3,145
+6% +$242K
2013 Q2
9 quarters
CVI icon
93
CVR Energy
CVI
$5.92B
$3.67M 0.07%
89,370
-22,978
-20% -$912K
2013 Q3
8 quarters
IGSB icon
94
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.4B
$3.61M 0.07%
68,600
– –
2013 Q2
9 quarters
GRBK icon
95
Green Brick Partners
GRBK
$2.66B
$3.58M 0.06%
330,507
-595,804
-64% -$7.17M
2014 Q4
3 quarters
BPY
96
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$3.53M 0.06%
164,488
-120,819
-42% -$2.59M
2013 Q2
9 quarters
TRCO
97
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
$3.48M 0.06%
97,891
-94,015
-49% -$4.18M
2014 Q4
3 quarters
BMY icon
98
Bristol-Myers Squibb
BMY
$118B
$3.46M 0.06%
58,442
+2,575
+5% +$163K
2013 Q2
9 quarters
SSP icon
99
E.W. Scripps
SSP
$259M
$3.36M 0.06%
190,006
-3,323
-2% -$64.5K
2013 Q2
9 quarters
EVV icon
100
Eaton Vance Limited Duration Income Fund
EVV
$978M
$3.25M 0.06%
256,013
-61,487
-19% -$819K
2013 Q2
9 quarters
2 3
4
5 6

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AC
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OA
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TGA
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PWM
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APFBOT
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CFIC
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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.