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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
-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
(-21%)
Cap. Flow
-$1.12B
Cap. Flow
% of AUM
-20.39%
Top 10 Holdings %
Top 10 Hldgs %
47.53%
Holding
537
New
22
Increased
90
Reduced
325
Closed
33
Avg Time Held Equity + Options
7.2
quarters
Top 10 Avg Time Held Equity + Options
6
quarters
Top 20 Avg Time Held Equity + Options
6.4
quarters
Avg Time Held Equity only
7.3
quarters
Top 10 Avg Time Held Equity only
6.8
quarters
Top 20 Avg Time Held Equity only
6.9
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wheaton Precious Metals
WPM
|
+$24.5M |
| 2 |
EMG
Emergent Capital, Inc.
EMG
|
+$11.7M |
| 3 |
PayPal
PYPL
|
+$7.36M |
| 4 |
LSB Industries
LXU
|
+$7.07M |
| 5 |
Texas Pacific Land
TPL
|
+$6.76M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JAH
JARDEN CORPORATION
JAH
|
+$165M |
| 2 |
Wendy's
WEN
|
+$110M |
| 3 |
AutoNation
AN
|
+$64.5M |
| 4 |
Brookfield
BN
|
+$59.7M |
| 5 |
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 | |
|---|---|---|---|---|---|---|---|
|
1
Howard Hughes
HHH
$4.4B
| $508M | 9.22% |
4,644,218
-338,851
| -7% | -$42.2M |
2013 Q2
9 quarters
|
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$822B
| $480M | 8.71% |
+2,596,500
| New | +$527M |
2015 Q3
0 quarters
|
|
3
Icahn Enterprises
IEP
$4.66B
| $254M | 4.6% |
3,785,191
-104,604
| -3% | -$7.88M |
2013 Q2
9 quarters
|
|
|
STRZA
4
DELISTED
Starz - Series A
STRZA
| $229M | 4.15% |
6,130,566
-928,568
| -13% | -$37.2M |
2013 Q2
9 quarters
|
|
|
5
Texas Pacific Land
TPL
$24.9B
| $225M | 4.07% |
14,412,240
+455,184
| +3% | +$6.76M |
2013 Q2
9 quarters
|
|
6
Liberty Media Corporation Series C Common Stock
FWONK
$23.6B
| $215M | 3.91% |
8,827,312
-1,455,920
| -14% | -$37.3M |
2014 Q3
4 quarters
|
|
|
7
AutoNation
AN
$5.2B
| $194M | 3.52% |
3,338,282
-1,060,574
| -24% | -$64.5M |
2013 Q2
9 quarters
|
|
|
JAH
8
DELISTED
JARDEN CORPORATION
JAH
| $193M | 3.51% |
3,955,800
-3,120,268
| -44% | -$165M |
2013 Q2
9 quarters
|
|
9
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $162M | 2.93% |
209,575
+72,394
| +53% | +$24.1M |
2014 Q4
3 quarters
|
|
|
DWA
10
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
| $160M | 2.91% |
9,190,742
-946,197
| -9% | -$20.5M |
2013 Q2
9 quarters
|
|
|
DISH
11
DELISTED
DISH Network Corp.
DISH
| $155M | 2.81% |
2,653,135
-110,056
| -4% | -$6.98M |
2013 Q2
9 quarters
|
|
|
12
Wendy's
WEN
$1.19B
| $145M | 2.63% |
16,769,109
-11,365,454
| -40% | -$110M |
2013 Q2
9 quarters
|
|
|
13
Brookfield
BN
$82.8B
| $133M | 2.41% |
12,016,383
-5,119,270
| -30% | -$59.7M |
2013 Q2
9 quarters
|
|
|
QVCGA
14
DELISTED
QVC Group Inc Series A
QVCGA
| $115M | 2.09% |
90,404
-28,938
| -24% | -$39.6M |
2013 Q2
9 quarters
|
|
15
Cboe Global Markets
CBOE
$31.8B
| $115M | 2.08% |
1,707,502
-154,051
| -8% | -$9.71M |
2013 Q2
9 quarters
|
|
16
DELISTED
Liberty Broadband Class C
LBRDK
| $114M | 2.06% |
2,222,188
-407,423
| -15% | -$21.7M |
2014 Q4
3 quarters
|
|
|
LVNTA
17
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $111M | 2.01% |
2,742,658
-367,183
| -12% | -$14.9M |
2013 Q2
9 quarters
|
|
18
Liberty Media Corporation Series A Common Stock
FWONA
$21.7B
| $108M | 1.96% |
4,498,519
-773,003
| -15% | -$19.2M |
2013 Q2
9 quarters
|
|
19
Bath & Body Works
BBWI
$3.5B
| $107M | 1.94% |
1,467,018
-78,073
| -5% | -$5.39M |
2013 Q2
9 quarters
|
|
20
DELISTED
Sears Holding Corporation
SHLD
| $100M | 1.81% |
4,424,070
-452,735
| -9% | -$10.9M |
2013 Q2
9 quarters
|
|
21
DELISTED
Tri Pointe Homes
TPH
| $85.6M | 1.55% |
6,540,077
-1,360,958
| -17% | -$19.7M |
2014 Q2
5 quarters
|
|
22
Element Solutions
ESI
$8.85B
| $68.7M | 1.25% |
5,428,545
-353,758
| -6% | -$7.29M |
2014 Q1
6 quarters
|
|
23
Live Nation Entertainment
LYV
$39.7B
| $59.6M | 1.08% |
2,477,796
-1,530,456
| -38% | -$39.3M |
2013 Q2
9 quarters
|
|
|
VIAB
24
DELISTED
Viacom Inc. Class B
VIAB
| $57.6M | 1.05% |
1,335,966
-10,541
| -0.8% | -$522K |
2013 Q2
9 quarters
|
|
|
25
Wheaton Precious Metals
WPM
$63B
| $57.1M | 1.04% |
4,755,717
+1,880,515
| +65% | +$24.5M |
2014 Q3
4 quarters
|
|
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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.