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Horizon Kinetics Asset Management Portfolio holdings

AUM $9.23B
1-Year Est. Return 27.52%
This Fund
S&P 500
This Quarter Est. Return
-2.61%
1 Year Est. Return
+27.52%
3 Year Est. Return
+184.83%
5 Year Est. Return
+256.84%
10 Year Est. Return
–
AUM
$4.78B
AUM Growth
-$274M
Cap. Flow
-$283M
Cap. Flow %
-5.93%
Top 10 Hldgs %
71.54%
Holding
347
New
16
Increased
48
Reduced
178
Closed
22

Top Buys

Rank Stock Value
1
EXP icon
Eagle Materials
EXP
+$3.54M
2
BCDF icon
Horizon Kinetics Blockchain Development ETF
BCDF
+$1.67M
3
BNRE.A
Brookfield Reinsurance Ltd. Class A-1 Exchangeable Non-Voting Shares
BNRE.A
+$723K
4
VXF icon
Vanguard Extended Market ETF
VXF
+$675K
5
VUSB icon
Vanguard Ultra-Short Bond ETF
VUSB
+$659K

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$71.3M
2
CBRE icon
CBRE Group
CBRE
+$20.5M
3
WPM icon
Wheaton Precious Metals
WPM
+$10.8M
4
ICE icon
Intercontinental Exchange
ICE
+$10.4M
5
VNOM icon
Viper Energy
VNOM
+$10.4M

Sector Composition

Rank Sector Weight
1 Energy 50.01%
2 Financials 8.8%
3 Materials 8.65%
4 Consumer Discretionary 4.73%
5 Technology 4.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SAND
26
DELISTED
Sandstorm Gold
SAND
$24.2M 0.51%
4,808,367
-671,789
-12% -$3.2M
WFG icon
27
West Fraser Timber
WFG
$5.65B
$23.1M 0.48%
269,822
-87,094
-24% -$6.45M
IPAR icon
28
Interparfums
IPAR
$3.94B
$22.9M 0.48%
158,807
-4,802
-3% -$627K
WEN icon
29
Wendy's
WEN
$1.46B
$22M 0.46%
1,131,007
-37,183
-3% -$716K
CCJ icon
30
Cameco
CCJ
$42.4B
$21.4M 0.45%
497,432
-140,073
-22% -$5.86M
STR
31
DELISTED
Sitio Royalties
STR
$21.3M 0.45%
906,604
-310,682
-26% -$7.21M
CCL icon
32
Carnival Corporation Ltd
CCL
$39.7B
$21.1M 0.44%
1,139,668
-20,922
-2% -$304K
OR icon
33
OR Royalties Inc
OR
$6.2B
$19.2M 0.4%
1,344,413
-371,787
-22% -$4.87M
TRC icon
34
Tejon Ranch
TRC
$451M
$18.7M 0.39%
1,085,128
-61,221
-5% -$993K
BRK.B icon
35
Berkshire Hathaway Class B
BRK.B
$1.13T
$16.6M 0.35%
46,601
-1,740
-4% -$611K
NTR icon
36
Nutrien
NTR
$30.7B
$16.3M 0.34%
289,882
-84,195
-23% -$4.76M
BAM icon
37
Brookfield Asset Management
BAM
$83.8B
$15.5M 0.33%
386,888
-44,759
-10% -$1.51M
RGLD icon
38
Royal Gold
RGLD
$19.5B
$15.5M 0.32%
127,989
-3,409
-3% -$385K
OSK icon
39
Oshkosh
OSK
$9.59B
$14.7M 0.31%
135,994
-866
-0.6% -$83.7K
BA icon
40
Boeing
BA
$185B
$14.5M 0.3%
55,514
-3,513
-6% -$751K
VUSB icon
41
Vanguard Ultra-Short Bond ETF
VUSB
$8.92B
$14.4M 0.3%
291,631
+13,379
+5% +$659K
VGSH icon
42
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$12.9M 0.27%
221,031
-1,859
-0.8% -$107K
FWONK icon
43
Liberty Media Series C
FWONK
$25.8B
$12.7M 0.27%
200,793
-1,482
-0.7% -$96.9K
MSTR icon
44
Strategy Inc
MSTR
$38.4B
$12.6M 0.26%
199,460
+1,730
+0.9% +$82K
SPAQ icon
45
Horizon Kinetics SPAC Active ETF
SPAQ
$10.1M
$10.7M 0.22%
110,356
– –
ELS icon
46
Equity Lifestyle Properties
ELS
$12.6B
$9.78M 0.2%
138,689
-13,368
-9% -$910K
MA icon
47
Mastercard
MA
$493B
$9.32M 0.2%
21,856
-10,874
-33% -$4.37M
SPGI icon
48
S&P Global
SPGI
$120B
$9.16M 0.19%
20,787
-5,354
-20% -$2.11M
FWONA icon
49
Liberty Media Series A
FWONA
$23.6B
$8.34M 0.17%
143,876
-641
-0.4% -$37.7K
LBRDK icon
50
Liberty Broadband Class C
LBRDK
$5.15B
$8.11M 0.17%
100,668
-7,700
-7% -$646K
1
2
3 4 5

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Horizon Kinetics Asset Management's Q4 2023 Portfolio in Review

As of Q4 2023, Horizon Kinetics Asset Management held 347 positions worth $4.78B, down 5.4% from $5.05B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Horizon Kinetics Asset Management withdrew a net $283M in Q4 2023, closing 22 positions and reducing 178 holdings. Its most notable exit was CBRE Group, an estimated $20.5M position sold in full.

By sector, the portfolio is most concentrated in Energy at 50% of assets, down from 57% a quarter earlier, followed by Financials and Materials.

Against the trend, Horizon Kinetics Asset Management opened a new position in Eagle Materials worth $4.08M.

  • Horizon Kinetics Asset Management's largest Q4 2023 buy was Eagle Materials: 20,126 shares worth $4.08M.
  • Horizon Kinetics Asset Management added most to Vanguard Extended Market ETF in Q4 2023, an estimated $675K increase.
  • Horizon Kinetics Asset Management's biggest Q4 2023 reduction was Texas Pacific Land, cutting an estimated $71.3M.
  • Horizon Kinetics Asset Management fully exited CBRE Group in Q4 2023, selling an estimated $20.5M.
  • Horizon Kinetics Asset Management's ten largest holdings make up 72% of its $4.78B portfolio in Q4 2023.
  • Horizon Kinetics Asset Management opened 16 new positions and closed 22 in Q4 2023.
  • Horizon Kinetics Asset Management's portfolio value fell 5.4% quarter-over-quarter to $4.78B.

Based on Horizon Kinetics Asset Management's 13F filing for Q4 2023, filed 15 Feb 2024.