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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
+8.02%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$7.26B
AUM Growth
-$147M
(-2%)
Cap. Flow
-$607M
Cap. Flow
% of AUM
-8.37%
Top 10 Holdings %
Top 10 Hldgs %
45.64%
Holding
547
New
27
Increased
111
Reduced
327
Closed
26
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LSB Industries
LXU
|
+$25M |
| 2 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$22.4M |
| 3 |
TPH
Tri Pointe Homes
TPH
|
+$11.6M |
| 4 |
Royal Gold
RGLD
|
+$11M |
| 5 |
Warner Bros
WBD
|
+$2.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BRP
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
|
+$98.4M |
| 2 |
Howard Hughes
HHH
|
+$44.7M |
| 3 |
Liberty Media Series C
FWONK
|
+$29.3M |
| 4 |
Icahn Enterprises
IEP
|
+$26.6M |
| 5 |
Equity Lifestyle Properties
ELS
|
+$22.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 26.13% |
| 2 | Consumer Discretionary | 22.18% |
| 3 | Real Estate | 12.53% |
| 4 | Energy | 9.59% |
| 5 | Financials | 9.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Howard Hughes
HHH
$3.88B
| $748M | 10.3% |
5,058,681
-339,645
| -6% | -$44.7M |
|
|
JAH
2
DELISTED
JARDEN CORPORATION
JAH
| $384M | 5.29% |
7,257,976
-369,102
| -5% | -$18.6M |
|
|
3
Icahn Enterprises
IEP
$4.78B
| $352M | 4.85% |
3,928,221
-281,925
| -7% | -$26.6M |
|
4
Wendy's
WEN
$1.49B
| $312M | 4.3% |
28,602,415
-1,837,927
| -6% | -$19.7M |
|
5
AutoNation
AN
$6.57B
| $287M | 3.95% |
4,456,702
-162,483
| -4% | -$9.96M |
|
|
6
Liberty Media Series C
FWONK
$25.6B
| $282M | 3.89% |
10,437,175
-1,116,555
| -10% | -$29.3M |
|
|
DWA
7
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
| $248M | 3.42% |
10,249,346
-644,152
| -6% | -$13.7M |
|
|
STRZA
8
DELISTED
Starz - Series A
STRZA
| $246M | 3.38% |
7,139,502
-456,504
| -6% | -$14.3M |
|
9
Brookfield
BN
$92.5B
| $231M | 3.18% |
18,416,681
-1,467,098
| -7% | -$18.2M |
|
10
Texas Pacific Land
TPL
$25.5B
| $223M | 3.08% |
13,886,253
-15,075
| -0.1% | -$217K |
|
|
SHLD
11
DELISTED
Sears Holding Corporation
SHLD
| $206M | 2.84% |
4,974,517
-38,243
| -0.8% | -$1.39M |
|
|
DISH
12
DELISTED
DISH Network Corp.
DISH
| $186M | 2.56% |
2,656,633
-213,679
| -7% | -$15.8M |
|
|
QVCGA
13
DELISTED
QVC Group Inc Series A
QVCGA
| $172M | 2.37% |
121,567
-15,415
| -11% | -$21.5M |
|
|
LBRDK
14
DELISTED
Liberty Broadband Class C
LBRDK
| $151M | 2.08% |
2,664,430
+441,769
| +20% | +$22.4M |
|
15
Element Solutions
ESI
$8.9B
| $149M | 2.05% |
5,802,419
-251,346
| -4% | -$6.05M |
|
16
Liberty Media Series A
FWONA
$23.6B
| $139M | 1.92% |
5,370,466
-657,674
| -11% | -$16.4M |
|
|
LVNTA
17
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $132M | 1.81% |
3,135,553
-41,821
| -1% | -$1.62M |
|
|
TPH
18
DELISTED
Tri Pointe Homes
TPH
| $122M | 1.68% |
7,896,320
+769,423
| +11% | +$11.6M |
|
19
Bath & Body Works
BBWI
$3.76B
| $120M | 1.65% |
1,573,209
-70,789
| -4% | -$5.11M |
|
20
Cboe Global Markets
CBOE
$32.8B
| $111M | 1.53% |
1,928,431
-99,337
| -5% | -$6.19M |
|
21
Live Nation Entertainment
LYV
$42.1B
| $108M | 1.49% |
4,288,240
-702,875
| -14% | -$17.7M |
|
|
VIAB
22
DELISTED
Viacom Inc. Class B
VIAB
| $93.6M | 1.29% |
1,370,382
-113,785
| -8% | -$7.86M |
|
|
VXX
23
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $74.7M | 1.03% |
12,940
+9,952
| +333% | +$4.83M |
|
|
ECHO
24
EchoStar
ECHO
$25.1B
| $70.9M | 0.98% |
1,692,343
-132,599
| -7% | -$5.64M |
|
|
RSE
25
DELISTED
ROUSE PPTYS INC COM (DE)
RSE
| $66.1M | 0.91% |
3,488,815
-221,136
| -6% | -$4.14M |
|
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Horizon Kinetics's Q1 2015 Portfolio in Review
As of Q1 2015, Horizon Kinetics held 547 positions worth $7.26B, down 2% from $7.4B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Horizon Kinetics withdrew a net $607M in Q1 2015, closing 26 positions and reducing 327 holdings. Its most notable exit was BROOKFIELD RESIDENTIAL PROPERTIES INC, an estimated $98.4M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 26% of assets, up from 26% a quarter earlier, followed by Consumer Discretionary and Real Estate.
Against the trend, Horizon Kinetics opened a new position in LSB Industries worth $29.1M.
- Horizon Kinetics's largest Q1 2015 buy was LSB Industries: 915,719 shares worth $29.1M.
- Horizon Kinetics added most to Liberty Broadband Class C in Q1 2015, an estimated $22.4M increase.
- Horizon Kinetics's biggest Q1 2015 reduction was Howard Hughes, cutting an estimated $44.7M.
- Horizon Kinetics fully exited BROOKFIELD RESIDENTIAL PROPERTIES INC in Q1 2015, selling an estimated $98.4M.
- Horizon Kinetics's ten largest holdings make up 46% of its $7.26B portfolio in Q1 2015.
- Horizon Kinetics opened 27 new positions and closed 26 in Q1 2015.
- Horizon Kinetics's portfolio value fell 2% quarter-over-quarter to $7.26B.
Based on Horizon Kinetics's 13F filing for Q1 2015, filed 15 May 2015.