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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
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 | |
|---|---|---|---|---|---|---|
101
Movado Group
MOV
$770M
| $3.16M | 0.06% |
122,450
-12,457
| -9% | -$324K |
|
|
DMO
102
Western Asset Mortgage Opportunity Fund
DMO
$117M
| $3.14M | 0.06% |
125,930
-1,943
| -2% | -$47.8K |
|
|
PCM
103
PCM Fund
PCM
$66.7M
| $3.13M | 0.06% |
329,828
-48,145
| -13% | -$468K |
|
|
SPE
104
Special Opportunities Fund
SPE
$144M
| $3.08M | 0.06% |
229,530
-51,035
| -18% | -$719K |
|
|
GBL
105
DELISTED
GAMCO Investors, Inc.
GBL
| $3.06M | 0.06% |
103,695
-15,435
| -13% | -$519K |
|
|
SIAL
106
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $2.94M | 0.05% |
21,186
-2,485
| -10% | -$347K |
|
|
PCI
107
DELISTED
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
| $2.94M | 0.05% |
161,006
-234,569
| -59% | -$4.51M |
|
108
American International
AIG
$40.1B
| $2.91M | 0.05% |
51,276
-8,198
| -14% | -$501K |
|
|
TACO
109
DELISTED
Del Taco Restaurants, Inc. Common Stock
TACO
| $2.87M | 0.05% |
204,817
-15,029
| -7% | -$217K |
|
|
FDML
110
DELISTED
Federal-Mogul Holdings Corporation
FDML
| $2.82M | 0.05% |
412,985
-51,117
| -11% | -$478K |
|
111
Johnson & Johnson
JNJ
$640B
| $2.82M | 0.05% |
30,179
+338
| +1% | +$32.7K |
|
112
Brookfield Infrastructure Partners
BIP
$17.9B
| $2.81M | 0.05% |
192,432
-1,505
| -0.8% | -$24.3K |
|
|
CVC
113
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
| $2.78M | 0.05% |
85,567
-44,366
| -34% | -$1.21M |
|
114
Intercontinental Exchange
ICE
$90.5B
| $2.66M | 0.05% |
56,645
-24,535
| -30% | -$1.14M |
|
115
Novartis
NVS
$294B
| $2.64M | 0.05% |
32,085
+1,562
| +5% | +$139K |
|
116
Philip Morris
PM
$297B
| $2.61M | 0.05% |
32,930
+4,320
| +15% | +$356K |
|
117
CACI
CACI
$14B
| $2.59M | 0.05% |
35,000
| – | – |
|
118
Eli Lilly
LLY
$1.05T
| $2.55M | 0.05% |
30,447
| – | – |
|
|
HHY
119
DELISTED
Brookfield High Income Fund Inc.
HHY
| $2.44M | 0.04% |
334,308
-39,038
| -10% | -$300K |
|
120
BlackRock Floating Rate Income Strategies Fund
FRA
$388M
| $2.39M | 0.04% |
184,779
-43,566
| -19% | -$576K |
|
121
Herc Holdings
HRI
$5.2B
| $2.32M | 0.04% |
46,274
-1,655
| -3% | -$86.6K |
|
122
AMC Global Media
AMCX
$509M
| $2.27M | 0.04% |
30,978
-6,535
| -17% | -$505K |
|
123
Biogen
BIIB
$32.7B
| $2.25M | 0.04% |
7,713
-620
| -7% | -$205K |
|
|
SNI
124
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
| $2.24M | 0.04% |
45,453
-145,762
| -76% | -$8.41M |
|
125
Carnival Corporation Ltd
CCL
$34.2B
| $2.21M | 0.04% |
44,499
-6,930
| -13% | -$353K |
|
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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.