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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 | |
|---|---|---|---|---|---|---|
201
Seaboard Corp
SEB
$4.06B
| $575K | 0.01% |
161
-21
| -12% | -$74.7K |
|
202
Rio Tinto
RIO
$164B
| $569K | 0.01% |
7,646
+901
| +13% | +$60.4K |
|
203
Movado Group
MOV
$841M
| $564K | 0.01% |
18,690
| – | – |
|
204
Alnylam Pharmaceuticals
ALNY
$29.3B
| $551K | 0.01% |
2,880
-120
| -4% | -$20.4K |
|
205
Berkshire Hathaway Class A
BRK.A
$1.12T
| $543K | 0.01% |
1
-1
| -50% | -$534K |
|
206
BlackRock MuniYield Quality Fund III
MYI
$721M
| $496K | 0.01% |
42,654
| – | – |
|
207
CALL
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$293M
| $480K | 0.01% |
480
| – | – |
|
208
Rayonier Advanced Materials
RYAM
$610M
| $472K | 0.01% |
116,550
-24,800
| -18% | -$81.5K |
|
209
Goldman Sachs
GS
$303B
| $460K | 0.01% |
1,193
| – | – |
|
210
3M
MMM
$94.3B
| $460K | 0.01% |
5,034
+981
| +24% | +$78.7K |
|
211
Nuveen Taxable Municipal Income Fund
NBB
$453M
| $452K | 0.01% |
28,620
| – | – |
|
212
Arthur J. Gallagher & Co
AJG
$63.6B
| $449K | 0.01% |
1,996
-138
| -6% | -$32.7K |
|
213
Intellia Therapeutics
NTLA
$1.67B
| $439K | 0.01% |
14,396
-604
| -4% | -$17.4K |
|
214
Valmont Industries
VMI
$9.53B
| $438K | 0.01% |
1,875
+100
| +6% | +$22K |
|
215
JPMorgan Chase
JPM
$950B
| $431K | 0.01% |
2,535
-308
| -11% | -$46.7K |
|
|
NBH
216
Neuberger Municipal Fund Inc
NBH
$304M
| $428K | 0.01% |
41,396
+15,445
| +60% | +$148K |
|
217
Comcast
CMCSA
$90B
| $423K | 0.01% |
9,655
-29
| -0.3% | -$1.24K |
|
218
BlackRock Credit Allocation Income Trust
BTZ
$956M
| $419K | 0.01% |
40,634
| – | – |
|
219
KKR & Co
KKR
$92.3B
| $419K | 0.01% |
5,058
| – | – |
|
220
Walt Disney
DIS
$181B
| $418K | 0.01% |
4,627
+1,682
| +57% | +$148K |
|
221
Loews
L
$23.6B
| $412K | 0.01% |
5,918
| – | – |
|
222
VanEck Gold Miners ETF
GDX
$27.4B
| $411K | 0.01% |
13,245
-1,880
| -12% | -$55K |
|
223
Vanguard Morningstar Total Stock Market ETF
VTI
$691B
| $408K | 0.01% |
1,722
-5
| -0.3% | -$1.1K |
|
224
Verizon
VZ
$196B
| $402K | 0.01% |
10,675
-215
| -2% | -$7.61K |
|
225
Liberty Energy
LBRT
$3.25B
| $398K | 0.01% |
+21,946
| New | +$417K |
|
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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.