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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
+0.65%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$4.03B
AUM Growth
-$613M
(-13%)
Cap. Flow
-$544M
Cap. Flow
% of AUM
-13.5%
Top 10 Holdings %
Top 10 Hldgs %
47.09%
Holding
548
New
39
Increased
118
Reduced
299
Closed
19
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wheaton Precious Metals
WPM
|
+$20.3M |
| 2 |
Franco-Nevada
FNV
|
+$16.4M |
| 3 |
Texas Pacific Land
TPL
|
+$4.02M |
| 4 |
DSL
DoubleLine Income Solutions Fund
DSL
|
+$3.98M |
| 5 |
ExxonMobil
XOM
|
+$1.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$57.4M |
| 2 |
Howard Hughes
HHH
|
+$46.6M |
| 3 |
QVCGA
QVC Group Inc Series A
QVCGA
|
+$41.1M |
| 4 |
JAH
JARDEN CORPORATION
JAH
|
+$32.8M |
| 5 |
AutoNation
AN
|
+$23.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 26.84% |
| 2 | Consumer Discretionary | 16.19% |
| 3 | Energy | 12.39% |
| 4 | Real Estate | 11.67% |
| 5 | Financials | 8.78% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Howard Hughes
HHH
$3.94B
| $392M | 9.74% |
3,886,398
-507,474
| -12% | -$46.6M |
|
|
2
Texas Pacific Land
TPL
$26.9B
| $240M | 5.95% |
14,813,937
+273,969
| +2% | +$4.02M |
|
3
Icahn Enterprises
IEP
$5.1B
| $221M | 5.49% |
3,507,276
-91,800
| -3% | -$5.28M |
|
4
Liberty Media Series C
FWONK
$25.5B
| $204M | 5.06% |
7,560,270
-816,266
| -10% | -$20.3M |
|
|
DWA
5
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
| $180M | 4.47% |
7,210,884
-938,683
| -12% | -$23.1M |
|
6
Wendy's
WEN
$1.46B
| $147M | 3.66% |
13,525,970
-1,899,934
| -12% | -$18.8M |
|
|
JAH
7
DELISTED
JARDEN CORPORATION
JAH
| $145M | 3.6% |
2,460,911
-613,447
| -20% | -$32.8M |
|
|
STRZA
8
DELISTED
Starz - Series A
STRZA
| $133M | 3.3% |
5,042,850
-687,684
| -12% | -$18.8M |
|
|
9
AutoNation
AN
$7.7B
| $123M | 3.07% |
2,645,007
-482,966
| -15% | -$23.4M |
|
10
Brookfield
BN
$102B
| $111M | 2.77% |
9,115,938
-1,087,296
| -11% | -$11.7M |
|
11
Liberty Media Series A
FWONA
$23.4B
| $99.7M | 2.47% |
3,837,274
-391,203
| -9% | -$9.49M |
|
|
DISH
12
DELISTED
DISH Network Corp.
DISH
| $96.3M | 2.39% |
2,082,164
-388,177
| -16% | -$18.7M |
|
13
Liberty Broadband Class C
LBRDK
$4.89B
| $93M | 2.31% |
1,604,531
-453,479
| -22% | -$22.8M |
|
|
14
Wheaton Precious Metals
WPM
$49.7B
| $89.4M | 2.22% |
5,392,631
+1,403,749
| +35% | +$20.3M |
|
|
VXX
15
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $83.9M | 2.08% |
113,731
+25,093
| +28% | +$9.45M |
|
16
Bath & Body Works
BBWI
$3.97B
| $82.1M | 2.04% |
1,156,396
-193,430
| -14% | -$13.9M |
|
17
Cboe Global Markets
CBOE
$32.2B
| $76.9M | 1.91% |
1,177,346
-69,509
| -6% | -$4.43M |
|
|
18
Franco-Nevada
FNV
$41.3B
| $58.8M | 1.46% |
958,713
+306,101
| +47% | +$16.4M |
|
|
QVCGA
19
DELISTED
QVC Group Inc Series A
QVCGA
| $56.8M | 1.41% |
46,311
-33,755
| -42% | -$41.1M |
|
20
CALL
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$259M
| – | – |
-1
| Closed | -$46.1M |
|
|
ECHO
21
EchoStar
ECHO
$24.3B
| $46.5M | 1.16% |
1,296,634
-93,002
| -7% | -$2.96M |
|
|
LVNTA
22
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $43.6M | 1.08% |
1,115,744
-1,513,389
| -58% | -$57.4M |
|
23
Live Nation Entertainment
LYV
$42.9B
| $41.5M | 1.03% |
1,860,547
-401,754
| -18% | -$8.78M |
|
|
SHLD
24
DELISTED
Sears Holding Corporation
SHLD
| $39.3M | 0.98% |
2,568,104
-561,609
| -18% | -$9.52M |
|
|
TPH
25
DELISTED
Tri Pointe Homes
TPH
| $38.7M | 0.96% |
3,286,328
-1,048,705
| -24% | -$11.1M |
|
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Horizon Kinetics's Q1 2016 Portfolio in Review
As of Q1 2016, Horizon Kinetics held 548 positions worth $4.03B, down 13% from $4.64B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Horizon Kinetics withdrew a net $544M in Q1 2016, closing 19 positions and reducing 299 holdings. Its most notable exit was Vanguard Extended Market ETF, an estimated $14.5M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 27% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Energy.
Against the trend, Horizon Kinetics opened a new position in Tortoise Midstream Energy Fund, Inc. Common Stock worth $1.78M.
- Horizon Kinetics's largest Q1 2016 buy was Tortoise Midstream Energy Fund, Inc. Common Stock: 10,900 shares worth $1.78M.
- Horizon Kinetics added most to Wheaton Precious Metals in Q1 2016, an estimated $20.3M increase.
- Horizon Kinetics's biggest Q1 2016 reduction was Liberty Interactive Corporation Series A Liberty Ventures, cutting an estimated $57.4M.
- Horizon Kinetics fully exited Vanguard Extended Market ETF in Q1 2016, selling an estimated $14.5M.
- Horizon Kinetics's ten largest holdings make up 47% of its $4.03B portfolio in Q1 2016.
- Horizon Kinetics opened 39 new positions and closed 19 in Q1 2016.
- Horizon Kinetics's portfolio value fell 13% quarter-over-quarter to $4.03B.
Based on Horizon Kinetics's 13F filing for Q1 2016, filed 15 Apr 2016.