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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
+9.31%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.57B
AUM Growth
-$403M
(-10%)
Cap. Flow
-$692M
Cap. Flow
% of AUM
-19.38%
Top 10 Holdings %
Top 10 Hldgs %
51.47%
Holding
532
New
11
Increased
75
Reduced
332
Closed
23
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AMC Global Media
AMCX
|
+$11.6M |
| 2 |
Nuveen AMT-Free Quality Municipal Income Fund
NEA
|
+$7.8M |
| 3 |
Texas Pacific Land
TPL
|
+$5.18M |
| 4 |
Federated Hermes
FHI
|
+$4.69M |
| 5 |
Navigator Holdings
NVGS
|
+$3.49M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DWA
DREAMWORKS ANIMATION SKG INC CL-A
DWA
|
+$198M |
| 2 |
Newell Brands
NWL
|
+$34.2M |
| 3 |
RSE
ROUSE PPTYS INC COM (DE)
RSE
|
+$24.7M |
| 4 |
Howard Hughes
HHH
|
+$17.3M |
| 5 |
Bath & Body Works
BBWI
|
+$9.58M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 17.69% |
| 2 | Energy | 17.27% |
| 3 | Consumer Discretionary | 14.23% |
| 4 | Real Estate | 12.22% |
| 5 | Financials | 9.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Texas Pacific Land
TPL
$26.9B
| $403M | 11.27% |
15,148,044
+252,720
| +2% | +$5.18M |
|
|
2
Howard Hughes
HHH
$3.94B
| $389M | 10.89% |
3,563,447
-155,923
| -4% | -$17.3M |
|
3
Icahn Enterprises
IEP
$5.1B
| $166M | 4.66% |
3,290,865
-92,516
| -3% | -$4.88M |
|
|
LSXMK
4
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $160M | 4.47% |
6,270,414
-331,194
| -5% | -$8.37M |
|
|
STRZA
5
DELISTED
Starz - Series A
STRZA
| $145M | 4.07% |
4,657,004
-178,160
| -4% | -$5.49M |
|
6
Wendy's
WEN
$1.46B
| $133M | 3.71% |
12,286,196
-666,537
| -5% | -$6.72M |
|
7
Wheaton Precious Metals
WPM
$49.7B
| $130M | 3.64% |
4,809,218
-314,830
| -6% | -$8.66M |
|
8
AutoNation
AN
$7.7B
| $107M | 2.99% |
2,195,129
-128,221
| -6% | -$6.3M |
|
9
Brookfield
BN
$102B
| $103M | 2.89% |
8,224,628
-267,787
| -3% | -$3.28M |
|
10
Liberty Broadband Class C
LBRDK
$4.89B
| $103M | 2.89% |
1,443,383
-69,502
| -5% | -$4.64M |
|
|
LSXMA
11
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $79.1M | 2.22% |
3,223,648
-165,208
| -5% | -$4.01M |
|
|
DISH
12
DELISTED
DISH Network Corp.
DISH
| $77.6M | 2.17% |
1,415,815
-85,370
| -6% | -$4.42M |
|
13
Cboe Global Markets
CBOE
$32.2B
| $67.9M | 1.9% |
1,047,098
-79,669
| -7% | -$5.43M |
|
14
Franco-Nevada
FNV
$41.3B
| $58.5M | 1.64% |
837,295
-46,135
| -5% | -$3.46M |
|
|
15
Newell Brands
NWL
$2.21B
| $55.3M | 1.55% |
1,049,479
-661,841
| -39% | -$34.2M |
|
|
16
Bath & Body Works
BBWI
$3.97B
| $45.2M | 1.27% |
790,134
-162,605
| -17% | -$9.58M |
|
17
Live Nation Entertainment
LYV
$42.9B
| $44.9M | 1.26% |
1,634,234
-58,348
| -3% | -$1.52M |
|
|
ECHO
18
EchoStar
ECHO
$24.3B
| $41.7M | 1.17% |
1,173,019
-45,372
| -4% | -$1.44M |
|
|
TPH
19
DELISTED
Tri Pointe Homes
TPH
| $38.4M | 1.08% |
2,916,929
-256,724
| -8% | -$3.39M |
|
|
QVCGA
20
DELISTED
QVC Group Inc Series A
QVCGA
| $35.9M | 1% |
36,927
-5,022
| -12% | -$5.54M |
|
21
Royal Gold
RGLD
$16.6B
| $34.2M | 0.96% |
441,669
-16,942
| -4% | -$1.36M |
|
|
VIAB
22
DELISTED
Viacom Inc. Class B
VIAB
| $31.5M | 0.88% |
827,062
-28,398
| -3% | -$1.18M |
|
23
Las Vegas Sands
LVS
$32.2B
| $31.4M | 0.88% |
545,765
-37,784
| -6% | -$1.95M |
|
24
Berkshire Hathaway Class B
BRK.B
$1.1T
| $28.5M | 0.8% |
197,461
-9,729
| -5% | -$1.42M |
|
25
Liberty Broadband Class A
LBRDA
$4.89B
| $28.5M | 0.8% |
406,600
-111,860
| -22% | -$7.37M |
|
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Horizon Kinetics's Q3 2016 Portfolio in Review
As of Q3 2016, Horizon Kinetics held 532 positions worth $3.57B, down 10% from $3.98B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Horizon Kinetics withdrew a net $692M in Q3 2016, closing 23 positions and reducing 332 holdings. Its most notable exit was DREAMWORKS ANIMATION SKG INC CL-A, an estimated $198M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 18% of assets, down from 20% a quarter earlier, followed by Energy and Consumer Discretionary.
Against the trend, Horizon Kinetics opened a new position in CommerceHub, Inc. Series C Common Stock worth $1.72M.
- Horizon Kinetics's largest Q3 2016 buy was CommerceHub, Inc. Series C Common Stock: 108,091 shares worth $1.72M.
- Horizon Kinetics added most to AMC Global Media in Q3 2016, an estimated $11.6M increase.
- Horizon Kinetics's biggest Q3 2016 reduction was Newell Brands, cutting an estimated $34.2M.
- Horizon Kinetics fully exited DREAMWORKS ANIMATION SKG INC CL-A in Q3 2016, selling an estimated $198M.
- Horizon Kinetics's ten largest holdings make up 51% of its $3.57B portfolio in Q3 2016.
- Horizon Kinetics opened 11 new positions and closed 23 in Q3 2016.
- Horizon Kinetics's portfolio value fell 10% quarter-over-quarter to $3.57B.
Based on Horizon Kinetics's 13F filing for Q3 2016, filed 14 Nov 2016.