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Horizon Kinetics

Horizon Kinetics Portfolio holdings

AUM $3.06B Turnover 11.22%
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
1.8 years
Top 10 Avg Time Held Equity + Options
1.5 years
Top 20 Avg Time Held Equity + Options
1.6 years
Avg Time Held Equity only
1.8 years
Top 10 Avg Time Held Equity only
1.7 years
Top 20 Avg Time Held Equity only
1.7 years

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
CMS icon
176
CMS Energy
CMS
$21B
$1.14M 0.02%
32,162
-2,700
-8% -$91.1K
2013 Q2
9 quarters
CMRE icon
177
Costamare
CMRE
$1.73B
$1.13M 0.02%
92,084
+4,542
+5% +$71.9K
2013 Q3
8 quarters
EXPE icon
178
Expedia Group
EXPE
$35B
$1.13M 0.02%
9,591
-35,027
-79% -$4.04M
2013 Q2
9 quarters
CNP icon
179
CenterPoint Energy
CNP
$26.2B
$1.1M 0.02%
61,123
+2,573
+4% +$48.1K
2013 Q2
9 quarters
NG icon
180
NovaGold Resources
NG
$2.88B
$1.08M 0.02%
299,369
-53,021
-15% -$179K
2013 Q2
9 quarters
CNQ icon
181
Canadian Natural Resources
CNQ
$107B
$1.07M 0.02%
113,336
-16,794
-13% -$185K
2013 Q2
9 quarters
BP icon
182
BP
BP
$125B
$1.05M 0.02%
40,839
+1,426
+4% +$41.8K
2013 Q2
9 quarters
MON
183
DELISTED
Monsanto Co
MON
$1.04M 0.02%
12,224
+35
+0.3% +$3.46K
2013 Q2
9 quarters
SHV icon
184
iShares 0-1 Year Treasury Bond ETF
SHV
$23.5B
$1.03M 0.02%
9,373
-591
-6% -$65.2K
2015 Q1
2 quarters
NAN icon
185
Nuveen New York Quality Municipal Income Fund
NAN
$333M
$1.03M 0.02%
77,030
-33,074
-30% -$445K
2015 Q1
2 quarters
AVNS icon
186
DELISTED
Avanos Medical
AVNS
$1.03M 0.02%
36,230
– –
2015 Q1
2 quarters
BA icon
187
Boeing
BA
$149B
$1.03M 0.02%
7,864
+150
+2% +$20.8K
2013 Q2
9 quarters
SEE icon
188
DELISTED
Sealed Air
SEE
$1.03M 0.02%
21,975
+3,050
+16% +$158K
2013 Q2
9 quarters
EMR icon
189
Emerson Electric
EMR
$90.4B
$1.03M 0.02%
23,276
-425
-2% -$20.9K
2013 Q2
9 quarters
ADM icon
190
Archer Daniels Midland
ADM
$40B
$1.01M 0.02%
24,332
– –
2013 Q2
9 quarters
VNO icon
191
Vornado Realty Trust
VNO
$6.2B
$1.01M 0.02%
13,773
-68,105
-83% -$5.14M
2013 Q2
9 quarters
CSWC icon
192
Capital Southwest
CSWC
$1.5B
$1M 0.02%
57,749
-10,896
-16% -$192K
2014 Q4
3 quarters
EVF icon
193
Eaton Vance Senior Income Trust
EVF
$87.2M
$995K 0.02%
169,398
-48,691
-22% -$299K
2013 Q2
9 quarters
CVX icon
194
Chevron
CVX
$430B
$993K 0.02%
12,586
+922
+8% +$77.6K
2013 Q2
9 quarters
VTI icon
195
Vanguard Morningstar Total Stock Market ETF
VTI
$697B
$990K 0.02%
+10,031
New +$1.05M
2015 Q3
0 quarters
GSK icon
196
GSK
GSK
$98.2B
$989K 0.02%
20,578
+1,520
+8% +$79.1K
2013 Q2
9 quarters
LEG icon
197
DELISTED
Leggett & Platt
LEG
$985K 0.02%
23,879
-3,950
-14% -$184K
2013 Q2
9 quarters
GILD icon
198
Gilead Sciences
GILD
$195B
$977K 0.02%
9,950
+1,000
+11% +$111K
2015 Q1
2 quarters
AMRI
199
DELISTED
Albany Molecular Research Inc
AMRI
$976K 0.02%
56,000
– –
2013 Q2
9 quarters
UE icon
200
Urban Edge Properties
UE
$2.44B
$975K 0.02%
45,170
-28,751
-39% -$615K
2015 Q1
2 quarters
6 7
8
9 10

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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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RCM
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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.