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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
+5.97%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.1B
AUM Growth
-$477M
(-13%)
Cap. Flow
-$640M
Cap. Flow
% of AUM
-20.66%
Top 10 Holdings %
Top 10 Hldgs %
54.11%
Holding
530
New
22
Increased
101
Reduced
304
Closed
23
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LGF.B
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
|
+$69.3M |
| 2 |
AC
Associated Capital Group
AC
|
+$31.3M |
| 3 |
AMC Global Media
AMCX
|
+$11.1M |
| 4 |
Texas Pacific Land
TPL
|
+$7.4M |
| 5 |
LEXEA
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
|
+$4.12M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
STRZA
Starz - Series A
STRZA
|
+$145M |
| 2 |
Howard Hughes
HHH
|
+$53.6M |
| 3 |
Wendy's
WEN
|
+$34.5M |
| 4 |
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
|
+$30.3M |
| 5 |
QVCGA
QVC Group Inc Series A
QVCGA
|
+$25.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 24.45% |
| 2 | Communication Services | 22.92% |
| 3 | Real Estate | 11.82% |
| 4 | Consumer Discretionary | 11.19% |
| 5 | Financials | 10.72% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Fortune Brands Innovations
FBIN
$4.77B
| $1.41M | 0.05% |
30,783
-952
| -3% | -$44.9K |
|
152
Fidelity National Financial
FNF
$11.6B
| $1.39M | 0.05% |
59,061
-726
| -1% | -$17.4K |
|
153
Alkermes
ALKS
$7.57B
| $1.39M | 0.04% |
25,000
| – | – |
|
154
Union Pacific
UNP
$169B
| $1.38M | 0.04% |
13,344
+969
| +8% | +$95.3K |
|
|
SHLDW
155
DELISTED
Sears Holdings Corporation - Warrant
SHLDW
| $1.38M | 0.04% |
389,348
-370,113
| -49% | -$1.34M |
|
156
Lennar Class A
LEN
$19.4B
| $1.37M | 0.04% |
33,640
-63,160
| -65% | -$2.56M |
|
157
Honeywell
HON
$63.5B
| $1.35M | 0.04% |
12,901
+1,445
| +13% | +$147K |
|
158
Graham Holdings Company
GHC
$4.93B
| $1.34M | 0.04% |
2,613
-17
| -0.6% | -$8.28K |
|
159
Sonoco
SON
$4.76B
| $1.31M | 0.04% |
24,800
-200
| -0.8% | -$10.4K |
|
160
CenterPoint Energy
CNP
$25B
| $1.24M | 0.04% |
50,273
-8,300
| -14% | -$194K |
|
161
Boeing
BA
$166B
| $1.22M | 0.04% |
7,839
| – | – |
|
162
CMS Energy
CMS
$20.7B
| $1.21M | 0.04% |
29,162
-700
| -2% | -$28.6K |
|
|
AIG.WS
163
DELISTED
American International Group, Inc.
AIG.WS
| $1.21M | 0.04% |
51,462
| – | – |
|
164
KLA
KLAC
$217B
| $1.2M | 0.04% |
152,000
| – | – |
|
|
LORL
165
DELISTED
Loral Space and Communications, Inc.
LORL
| $1.19M | 0.04% |
29,048
-379
| -1% | -$14.8K |
|
|
TACO
166
DELISTED
Del Taco Restaurants, Inc. Common Stock
TACO
| $1.15M | 0.04% |
81,321
-6,722
| -8% | -$93.3K |
|
167
Microsoft
MSFT
$3.71T
| $1.14M | 0.04% |
18,380
+50
| +0.3% | +$3.01K |
|
168
Fortive
FTV
$17B
| $1.14M | 0.04% |
33,728
-1,317
| -4% | -$43.6K |
|
|
SPE
169
Special Opportunities Fund
SPE
$145M
| $1.11M | 0.04% |
85,129
-15,353
| -15% | -$207K |
|
170
CME Group
CME
$99.1B
| $1.11M | 0.04% |
9,615
| – | – |
|
171
Rockwell Automation
ROK
$46.4B
| $1.1M | 0.04% |
8,163
-50
| -0.6% | -$6.39K |
|
|
WBT
172
DELISTED
Welbilt, Inc.
WBT
| $1.1M | 0.04% |
56,725
-911
| -2% | -$15.6K |
|
|
LEG
173
DELISTED
Leggett & Platt
LEG
| $1.08M | 0.03% |
22,100
| – | – |
|
174
Sanofi
SNY
$102B
| $1.08M | 0.03% |
26,697
-1,000
| -4% | -$39.4K |
|
175
Invesco S&P 500 Equal Weight ETF
RSP
$98.4B
| $1.07M | 0.03% |
12,339
-229
| -2% | -$19.3K |
|
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Horizon Kinetics's Q4 2016 Portfolio in Review
As of Q4 2016, Horizon Kinetics held 530 positions worth $3.1B, down 13% from $3.57B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Horizon Kinetics withdrew a net $640M in Q4 2016, closing 23 positions and reducing 304 holdings. Its most notable exit was Starz - Series A, an estimated $145M position sold in full.
By sector, the portfolio is most concentrated in Energy at 24% of assets, up from 18% a quarter earlier, followed by Communication Services and Real Estate.
Against the trend, Horizon Kinetics opened a new position in Lions Gate Entertainment Corp. Class B Non-Voting Shares worth $66.6M.
- Horizon Kinetics's largest Q4 2016 buy was Lions Gate Entertainment Corp. Class B Non-Voting Shares: 2,714,405 shares worth $66.6M.
- Horizon Kinetics added most to Associated Capital Group in Q4 2016, an estimated $31.3M increase.
- Horizon Kinetics's biggest Q4 2016 reduction was Howard Hughes, cutting an estimated $53.6M.
- Horizon Kinetics fully exited Starz - Series A in Q4 2016, selling an estimated $145M.
- Horizon Kinetics's ten largest holdings make up 54% of its $3.1B portfolio in Q4 2016.
- Horizon Kinetics opened 22 new positions and closed 23 in Q4 2016.
- Horizon Kinetics's portfolio value fell 13% quarter-over-quarter to $3.1B.
Based on Horizon Kinetics's 13F filing for Q4 2016, filed 14 Feb 2017.