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HKAM
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
(-5.4%)
Cap. Flow
-$283M
Cap. Flow
% of AUM
-5.93%
Top 10 Holdings %
Top 10 Hldgs %
71.54%
Holding
347
New
16
Increased
48
Reduced
178
Closed
22
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eagle Materials
EXP
|
+$3.54M |
| 2 |
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 |
Vanguard Extended Market ETF
VXF
|
+$675K |
| 5 |
Vanguard Ultra-Short Bond ETF
VUSB
|
+$659K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Texas Pacific Land
TPL
|
+$71.3M |
| 2 |
CBRE Group
CBRE
|
+$20.5M |
| 3 |
Wheaton Precious Metals
WPM
|
+$10.8M |
| 4 |
Intercontinental Exchange
ICE
|
+$10.4M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
51
Royal Caribbean
RCL
$85.6B
| $7.27M | 0.15% |
56,124
-502
| -0.9% | -$51.2K |
|
52
RB Global
RBA
$17.5B
| $6.19M | 0.13% |
92,529
-2,400
| -3% | -$154K |
|
53
Nasdaq
NDAQ
$52.9B
| $6.11M | 0.13% |
105,076
-4,077
| -4% | -$215K |
|
54
Royalty Pharma
RPRX
$25.3B
| $6.09M | 0.13% |
216,690
-70,565
| -25% | -$1.94M |
|
55
Madison Square Garden
MSGS
$9.39B
| $5.78M | 0.12% |
31,788
-821
| -3% | -$142K |
|
56
Burford Capital
BUR
$971M
| $5.73M | 0.12% |
367,382
-8,691
| -2% | -$116K |
|
|
SII
57
Sprott
SII
$3.03B
| $5.3M | 0.11% |
156,221
-55,087
| -26% | -$1.7M |
|
58
Williams Companies
WMB
$86.1B
| $5.02M | 0.11% |
144,226
-2,857
| -2% | -$100K |
|
59
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.42B
| $4.66M | 0.1% |
423,715
| – | – |
|
60
ExxonMobil
XOM
$634B
| $4.55M | 0.1% |
45,484
+779
| +2% | +$81.9K |
|
61
Freeport-McMoran
FCX
$97.5B
| $4.41M | 0.09% |
103,587
-2,325
| -2% | -$85.9K |
|
62
Patterson-UTI
PTEN
$3.76B
| $4.33M | 0.09% |
401,301
-2,740
| -0.7% | -$33.3K |
|
63
Alerian MLP ETF
AMLP
$12.8B
| $4.32M | 0.09% |
101,700
| – | – |
|
|
64
Eagle Materials
EXP
$6.57B
| $4.08M | 0.09% |
+20,126
| New | +$3.54M |
|
|
PCH
65
DELISTED
PotlatchDeltic
PCH
| $4.07M | 0.09% |
82,910
-6,021
| -7% | -$276K |
|
66
State Street SPDR S&P Oil & Gas Equipment & Services ETF
XES
$364M
| $4.04M | 0.08% |
47,773
+1,306
| +3% | +$113K |
|
67
Rayonier
RYN
$6.55B
| $3.96M | 0.08% |
130,589
-5,032
| -4% | -$135K |
|
68
AbbVie
ABBV
$435B
| $3.73M | 0.08% |
24,040
-784
| -3% | -$114K |
|
69
Markel Group
MKL
$23.2B
| $3.7M | 0.08% |
2,604
-40
| -2% | -$56.7K |
|
|
LSXMK
70
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $3.53M | 0.07% |
122,635
-217,460
| -64% | -$5.71M |
|
71
Microsoft
MSFT
$3.71T
| $3.4M | 0.07% |
9,035
-166
| -2% | -$59.1K |
|
|
TPH
72
DELISTED
Tri Pointe Homes
TPH
| $3.18M | 0.07% |
89,812
| – | – |
|
73
Merck
MRK
$318B
| $2.89M | 0.06% |
26,541
-498
| -2% | -$51.7K |
|
74
Kinder Morgan
KMI
$68.7B
| $2.86M | 0.06% |
161,933
-261
| -0.2% | -$4.45K |
|
75
Eli Lilly
LLY
$1.06T
| $2.77M | 0.06% |
4,755
-422
| -8% | -$246K |
|
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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.