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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
+0.65%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$4.03B
AUM Growth
-$613M
Cap. Flow
-$544M
Cap. Flow %
-13.5%
Top 10 Hldgs %
47.09%
Holding
548
New
39
Increased
118
Reduced
299
Closed
19

Top Buys

Rank Stock Value
1
WPM icon
Wheaton Precious Metals
WPM
+$20.3M
2
FNV icon
Franco-Nevada
FNV
+$16.4M
3
TPL icon
Texas Pacific Land
TPL
+$4.02M
4
DSL
DoubleLine Income Solutions Fund
DSL
+$3.98M
5
XOM icon
ExxonMobil
XOM
+$1.7M

Top Sells

Rank Stock Value
1
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$57.4M
2
HHH icon
Howard Hughes
HHH
+$46.6M
3
QVCGA
QVC Group Inc Series A
QVCGA
+$41.1M
4
JAH
JARDEN CORPORATION
JAH
+$32.8M
5
AN icon
AutoNation
AN
+$23.4M

Sector Composition

Rank Sector Weight
1 Communication Services 26.84%
2 Consumer Discretionary 16.19%
3 Energy 12.39%
4 Real Estate 11.67%
5 Financials 8.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SAND
76
DELISTED
Sandstorm Gold
SAND
$4.78M 0.12%
1,452,718
-248,147
-15% -$683K
ARII
77
DELISTED
American Railcar Industries, Inc.
ARII
$4.5M 0.11%
110,366
-6,137
-5% -$257K
AFSI
78
DELISTED
AmTrust Financial Services, Inc.
AFSI
$4.33M 0.11%
167,266
-205,742
-55% -$5.47M
EVV
79
Eaton Vance Limited Duration Income Fund
EVV
$1.05B
$4.08M 0.1%
309,422
+41,028
+15% +$511K
GGP
80
DELISTED
GGP Inc.
GGP
$4.01M 0.1%
134,775
-10,477
-7% -$288K
WMB icon
81
Williams Companies
WMB
$85.8B
$4M 0.1%
248,744
+7,344
+3% +$126K
TLI
82
DELISTED
Western Asset Corporate Loan Fund Inc.
TLI
$4M 0.1%
409,515
-14,385
-3% -$134K
DHR icon
83
Danaher
DHR
$138B
$3.91M 0.1%
61,348
-9,944
-14% -$593K
LBTYK icon
84
Liberty Global Class C
LBTYK
$3.5B
$3.85M 0.1%
118,157
-16,238
-12% -$494K
BMY icon
85
Bristol-Myers Squibb
BMY
$129B
$3.76M 0.09%
58,876
+1,334
+2% +$84.1K
CACI icon
86
CACI
CACI
$10.8B
$3.73M 0.09%
35,000
– –
FDML
87
DELISTED
Federal-Mogul Holdings Corporation
FDML
$3.65M 0.09%
369,246
-35,394
-9% -$221K
PAG icon
88
Penske Automotive Group
PAG
$14.7B
$3.62M 0.09%
95,552
-5,226
-5% -$186K
BPY
89
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$3.61M 0.09%
155,842
-1,789
-1% -$37.5K
SHLDW
90
DELISTED
Sears Holdings Corporation - Warrant
SHLDW
$3.6M 0.09%
809,494
-86,312
-10% -$557K
TMV icon
91
Direxion Daily 20+ Year Treasury Bear 3X ETF
TMV
$182M
$3.5M 0.09%
66,140
– –
JNJ icon
92
Johnson & Johnson
JNJ
$640B
$3.33M 0.08%
30,774
+833
+3% +$86.2K
BIP icon
93
Brookfield Infrastructure Partners
BIP
$19.6B
$3.31M 0.08%
198,127
-51
-0% -$740
TRCO
94
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
$3.3M 0.08%
85,957
-9,616
-10% -$324K
GLRE icon
95
Greenlight Captial
GLRE
$579M
$3.18M 0.08%
146,141
-11,590
-7% -$231K
WT icon
96
WisdomTree
WT
$2.79B
$3.15M 0.08%
275,887
-251,408
-48% -$3.02M
MOV icon
97
Movado Group
MOV
$840M
$3.1M 0.08%
112,718
-4,213
-4% -$113K
PM icon
98
Philip Morris
PM
$309B
$3.1M 0.08%
31,585
-794
-2% -$72.8K
PCM
99
PCM Fund
PCM
$68.7M
$2.94M 0.07%
310,951
+5,183
+2% +$47.1K
IGSB icon
100
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23B
$2.87M 0.07%
54,400
– –
2 3
4
5 6

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Horizon Kinetics's Q1 2016 Portfolio in Review

As of Q1 2016, Horizon Kinetics held 548 positions worth $4.03B, down 13% from $4.64B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Horizon Kinetics withdrew a net $544M in Q1 2016, closing 19 positions and reducing 299 holdings. Its most notable exit was Vanguard Extended Market ETF, an estimated $14.5M position sold in full.

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

Against the trend, Horizon Kinetics opened a new position in Tortoise Midstream Energy Fund, Inc. Common Stock worth $1.78M.

  • Horizon Kinetics's largest Q1 2016 buy was Tortoise Midstream Energy Fund, Inc. Common Stock: 10,900 shares worth $1.78M.
  • Horizon Kinetics added most to Wheaton Precious Metals in Q1 2016, an estimated $20.3M increase.
  • Horizon Kinetics's biggest Q1 2016 reduction was Liberty Interactive Corporation Series A Liberty Ventures, cutting an estimated $57.4M.
  • Horizon Kinetics fully exited Vanguard Extended Market ETF in Q1 2016, selling an estimated $14.5M.
  • Horizon Kinetics's ten largest holdings make up 47% of its $4.03B portfolio in Q1 2016.
  • Horizon Kinetics opened 39 new positions and closed 19 in Q1 2016.
  • Horizon Kinetics's portfolio value fell 13% quarter-over-quarter to $4.03B.

Based on Horizon Kinetics's 13F filing for Q1 2016, filed 15 Apr 2016.