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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
+10.71%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.92B
AUM Growth
+$624M
Cap. Flow
+$73.9M
Cap. Flow %
0.93%
Top 10 Hldgs %
47.13%
Holding
566
New
25
Increased
228
Reduced
180
Closed
29

Top Buys

Rank Stock Value
1
MA icon
Mastercard
MA
+$228M
2
SHLD
Sears Holding Corporation
SHLD
+$32.4M
3
XXV
IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN
XXV
+$13M
4
STRZA
Starz - Series A
STRZA
+$11.4M
5
TPL icon
Texas Pacific Land
TPL
+$10.3M

Top Sells

Rank Stock Value
1
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$25.6M
2
JEF icon
Jefferies Financial Group
JEF
+$24.2M
3
BN icon
Brookfield
BN
+$23.5M
4
AN icon
AutoNation
AN
+$23M
5
FWONA icon
Liberty Media Series A
FWONA
+$20.1M

Sector Composition

Rank Sector Weight
1 Communication Services 28.42%
2 Consumer Discretionary 18.82%
3 Real Estate 12.64%
4 Financials 11.91%
5 Energy 8.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FWONA icon
1
Liberty Media Series A
FWONA
$23.4B
$679M 8.57%
26,111,749
-757,783
-3% -$20.1M
HHH icon
2
Howard Hughes
HHH
$3.94B
$651M 8.21%
5,682,668
+43,523
+0.8% +$4.72M
IEP icon
3
Icahn Enterprises
IEP
$5.1B
$454M 5.73%
4,146,540
+88,761
+2% +$9.64M
DWA
4
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
$402M 5.07%
11,319,296
-232,452
-2% -$7.33M
JAH
5
DELISTED
JARDEN CORPORATION
JAH
$331M 4.18%
8,104,892
-108,414
-1% -$3.94M
AN icon
6
AutoNation
AN
$7.7B
$279M 3.52%
5,612,562
-464,821
-8% -$23M
JEF icon
7
Jefferies Financial Group
JEF
$12.7B
$255M 3.22%
10,066,151
-955,187
-9% -$24.2M
STRZA
8
DELISTED
Starz - Series A
STRZA
$238M 3%
8,134,051
+395,766
+5% +$11.4M
WEN icon
9
Wendy's
WEN
$1.46B
$230M 2.91%
26,408,824
-1,365,609
-5% -$11.7M
BN icon
10
Brookfield
BN
$102B
$215M 2.72%
23,700,705
-2,581,886
-10% -$23.5M
QVCGA
11
DELISTED
QVC Group Inc Series A
QVCGA
$214M 2.71%
177,932
+4,803
+3% +$5.34M
SHLD
12
DELISTED
Sears Holding Corporation
SHLD
$202M 2.55%
5,459,496
+767,696
+16% +$32.4M
DISH
13
DELISTED
DISH Network Corp.
DISH
$192M 2.42%
3,311,919
-172,690
-5% -$8.84M
RSE
14
DELISTED
ROUSE PPTYS INC COM (DE)
RSE
$163M 2.05%
7,328,427
-528,421
-7% -$11.3M
VIAB
15
DELISTED
Viacom Inc. Class B
VIAB
$162M 2.05%
1,860,145
+22,729
+1% +$1.88M
CBOE icon
16
Cboe Global Markets
CBOE
$32.2B
$149M 1.88%
2,869,318
-71,735
-2% -$3.62M
TPL icon
17
Texas Pacific Land
TPL
$26.9B
$145M 1.83%
13,084,038
+995,436
+8% +$10.3M
LVNTA
18
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
$122M 1.54%
4,055,885
-31,897
-0.8% -$857K
LYV icon
19
Live Nation Entertainment
LYV
$42.9B
$109M 1.37%
5,494,740
-562,797
-9% -$10.5M
BBWI icon
20
Bath & Body Works
BBWI
$3.97B
$97M 1.22%
1,939,277
-86,367
-4% -$4.32M
BRP
21
DELISTED
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
$94.7M 1.19%
3,913,935
+163,342
+4% +$3.59M
WYNN icon
22
Wynn Resorts
WYNN
$10.3B
$93.7M 1.18%
482,354
-33,498
-6% -$5.71M
LVS icon
23
Las Vegas Sands
LVS
$32.2B
$91.2M 1.15%
1,155,848
-63,030
-5% -$4.54M
PPLI
24
People Inc
PPLI
$3.12B
$86.9M 1.1%
7,083,523
+122,618
+2% +$1.26M
PARA
25
DELISTED
Paramount Global Class B
PARA
$84.6M 1.07%
1,326,878
-95,019
-7% -$5.59M
1
2 3 4 5

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Horizon Kinetics's Q4 2013 Portfolio in Review

As of Q4 2013, Horizon Kinetics held 566 positions worth $7.92B, up 8.6% from $7.3B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Horizon Kinetics's Q4 2013 filing shows 25 new, 228 increased, 180 reduced and 29 closed positions. Its largest new stake was IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN: 337,400 shares worth $14.4M. The largest sale was Forest City Realty Trust, Inc., an estimated $25.6M.

By sector, the portfolio is most concentrated in Communication Services at 28% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Real Estate.

  • Horizon Kinetics's largest Q4 2013 buy was IPATH INVERSE S&P 500 VIX SHORT-TERM FUTURES ETN: 337,400 shares worth $14.4M.
  • Horizon Kinetics added most to Mastercard in Q4 2013, an estimated $228M increase.
  • Horizon Kinetics's biggest Q4 2013 reduction was Forest City Realty Trust, Inc., cutting an estimated $25.6M.
  • Horizon Kinetics fully exited NYSE EURONEXT INC in Q4 2013, selling an estimated $11.3M.
  • Horizon Kinetics's ten largest holdings make up 47% of its $7.92B portfolio in Q4 2013.
  • Horizon Kinetics opened 25 new positions and closed 29 in Q4 2013.
  • Horizon Kinetics's portfolio value rose 8.6% quarter-over-quarter to $7.92B.

Based on Horizon Kinetics's 13F filing for Q4 2013, filed 13 Feb 2014.