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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
+2.59%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.4B
AUM Growth
-$352M
Cap. Flow
-$345M
Cap. Flow %
-4.65%
Top 10 Hldgs %
42.91%
Holding
554
New
37
Increased
108
Reduced
296
Closed
35

Top Buys

Rank Stock Value
1
LBRDK
Liberty Broadband Class C
LBRDK
+$109M
2
LBRDA
Liberty Broadband Class A
LBRDA
+$52.3M
3
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$44.1M
4
SRSC
SEARS Canada Inc.
SRSC
+$25.9M
5
RGLD icon
Royal Gold
RGLD
+$23.1M

Top Sells

Rank Stock Value
1
FWONK icon
Liberty Media Series C
FWONK
+$125M
2
FWONA icon
Liberty Media Series A
FWONA
+$65.8M
3
JEF icon
Jefferies Financial Group
JEF
+$43.5M
4
QVCGA
QVC Group Inc Series A
QVCGA
+$41.3M
5
SHLD
Sears Holding Corporation
SHLD
+$31M

Sector Composition

Rank Sector Weight
1 Communication Services 25.89%
2 Consumer Discretionary 22.64%
3 Real Estate 11.62%
4 Financials 9.96%
5 Energy 9.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASPS icon
176
Altisource Portfolio Solutions
ASPS
$65.2M
$1.67M 0.02%
6,193
+3,446
+125% +$1.78M
NPT
177
DELISTED
NUVEEN PREM INSD MUNI FD-4 INC
NPT
$1.66M 0.02%
125,442
-26,831
-18% -$353K
APO icon
178
Apollo Global Management
APO
$75B
$1.65M 0.02%
69,757
-240
-0.3% -$5.53K
FNF icon
179
Fidelity National Financial
FNF
$11.7B
$1.64M 0.02%
68,745
-2,160
-3% -$45.9K
NG icon
180
NovaGold Resources
NG
$3.18B
$1.61M 0.02%
546,174
-23,399
-4% -$66K
QCOM icon
181
Qualcomm
QCOM
$201B
$1.57M 0.02%
21,123
+1,107
+6% +$81K
SU icon
182
Suncor Energy
SU
$84.1B
$1.56M 0.02%
49,243
-12,949
-21% -$428K
BRW
183
Saba Capital Income & Opportunities Fund
BRW
$320M
$1.55M 0.02%
145,937
-4,261
-3% -$45.7K
DSU icon
184
BlackRock Debt Strategies Fund
DSU
$589M
$1.55M 0.02%
138,628
-15,007
-10% -$169K
BNY
185
Bank of New York Mellon
BNY
$105B
$1.55M 0.02%
38,117
-200
-0.5% -$7.83K
MON
186
DELISTED
Monsanto Co
MON
$1.52M 0.02%
12,689
– –
ATNY
187
DELISTED
API TECHNOLOGIES CORP. COMMON STOCK
ATNY
$1.5M 0.02%
706,258
– –
CVX icon
188
Chevron
CVX
$427B
$1.5M 0.02%
13,325
+392
+3% +$44.5K
JFR icon
189
Nuveen Floating Rate Income Fund
JFR
$1.2B
$1.49M 0.02%
135,674
-5,697
-4% -$62.8K
KDP icon
190
Keurig Dr Pepper
KDP
$42.9B
$1.48M 0.02%
20,592
-6,508
-24% -$451K
VZ icon
191
Verizon
VZ
$214B
$1.47M 0.02%
31,502
-451
-1% -$22.1K
CMRE icon
192
Costamare
CMRE
$1.83B
$1.47M 0.02%
83,642
+1,255
+2% +$24.6K
ALKS icon
193
Alkermes
ALKS
$7.72B
$1.46M 0.02%
25,000
– –
LHX icon
194
L3Harris
LHX
$46.5B
$1.45M 0.02%
20,173
-150
-0.7% -$10.4K
CPRT icon
195
Copart
CPRT
$28.7B
$1.42M 0.02%
310,880
– –
CMS icon
196
CMS Energy
CMS
$20.7B
$1.41M 0.02%
40,662
-4,484
-10% -$146K
LEG
197
DELISTED
Leggett & Platt
LEG
$1.39M 0.02%
32,556
-1,244
-4% -$49K
BP icon
198
BP
BP
$121B
$1.38M 0.02%
43,523
+840
+2% +$28.2K
KRFT
199
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
$1.35M 0.02%
21,578
-2,202
-9% -$129K
NNP
200
DELISTED
NUVEEN NY PERF PLUS MUNI FD
NNP
$1.32M 0.02%
91,338
-22,515
-20% -$319K
6 7
8
9 10

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Horizon Kinetics's Q4 2014 Portfolio in Review

As of Q4 2014, Horizon Kinetics held 554 positions worth $7.4B, down 4.5% from $7.76B the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Horizon Kinetics withdrew a net $345M in Q4 2014, closing 35 positions and reducing 296 holdings. Its most notable exit was BURGER KING WORLDWIDE, an estimated $13.8M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 26% of assets, down from 27% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Horizon Kinetics opened a new position in Liberty Broadband Class C worth $111M.

  • Horizon Kinetics's largest Q4 2014 buy was Liberty Broadband Class C: 2,222,661 shares worth $111M.
  • Horizon Kinetics added most to Liberty Interactive Corporation Series A Liberty Ventures in Q4 2014, an estimated $44.1M increase.
  • Horizon Kinetics's biggest Q4 2014 reduction was Liberty Media Series C, cutting an estimated $125M.
  • Horizon Kinetics fully exited BURGER KING WORLDWIDE in Q4 2014, selling an estimated $13.8M.
  • Horizon Kinetics's ten largest holdings make up 43% of its $7.4B portfolio in Q4 2014.
  • Horizon Kinetics opened 37 new positions and closed 35 in Q4 2014.
  • Horizon Kinetics's portfolio value fell 4.5% quarter-over-quarter to $7.4B.

Based on Horizon Kinetics's 13F filing for Q4 2014, filed 17 Feb 2015.