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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
-4.58%
1 Year Est. Return
+27.52%
3 Year Est. Return
+184.83%
5 Year Est. Return
+256.84%
10 Year Est. Return
–
AUM
$3.32B
AUM Growth
-$298M
(-8.2%)
Cap. Flow
-$104M
Cap. Flow
% of AUM
-3.14%
Top 10 Holdings %
Top 10 Hldgs %
62.32%
Holding
498
New
5
Increased
93
Reduced
267
Closed
14
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equity Lifestyle Properties
ELS
|
+$16.4M |
| 2 |
Wheaton Precious Metals
WPM
|
+$16M |
| 3 |
CACI
CACI
|
+$13.9M |
| 4 |
Franco-Nevada
FNV
|
+$8.98M |
| 5 |
BGC Group
BGC
|
+$3.84M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GE Aerospace
GE
|
+$21.5M |
| 2 |
Howard Hughes
HHH
|
+$13.3M |
| 3 |
Icahn Enterprises
IEP
|
+$12M |
| 4 |
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
|
+$11.3M |
| 5 |
Liberty Broadband Class C
LBRDK
|
+$5.68M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 41.24% |
| 2 | Financials | 11.69% |
| 3 | Communication Services | 7.98% |
| 4 | Materials | 7.75% |
| 5 | Real Estate | 6.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Texas Pacific Land
TPL
$28.9B
| $1.16B | 34.87% |
16,045,317
-72,711
| -0.5% | -$5.67M |
|
|
2
Howard Hughes
HHH
$3.93B
| $204M | 6.13% |
1,647,981
-107,589
| -6% | -$13.3M |
|
|
3
Franco-Nevada
FNV
$41.4B
| $104M | 3.12% |
1,136,408
+97,889
| +9% | +$8.98M |
|
|
4
Icahn Enterprises
IEP
$5.17B
| $103M | 3.09% |
1,600,348
-168,514
| -10% | -$12M |
|
|
LSXMK
5
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $98.6M | 2.97% |
3,086,379
-170,671
| -5% | -$5.3M |
|
|
6
Wheaton Precious Metals
WPM
$50.6B
| $93.9M | 2.83% |
3,578,158
+593,688
| +20% | +$16M |
|
|
7
CACI
CACI
$10.8B
| $88.3M | 2.66% |
381,927
+64,537
| +20% | +$13.9M |
|
8
Brookfield
BN
$102B
| $80.7M | 2.43% |
4,258,618
+188,377
| +5% | +$3.41M |
|
9
Cboe Global Markets
CBOE
$29.8B
| $73.2M | 2.21% |
637,315
-6,369
| -1% | -$737K |
|
10
Live Nation Entertainment
LYV
$41.2B
| $66.7M | 2.01% |
1,005,364
-20,342
| -2% | -$1.42M |
|
|
AC
11
DELISTED
Associated Capital Group
AC
| $52.6M | 1.58% |
1,485,474
-27,935
| -2% | -$1.02M |
|
|
12
Liberty Broadband Class C
LBRDK
$4.15B
| $52M | 1.57% |
497,202
-54,494
| -10% | -$5.68M |
|
13
Wendy's
WEN
$1.33B
| $51.3M | 1.54% |
2,566,580
-80,487
| -3% | -$1.6M |
|
14
Civeo
CVEO
$379M
| $51.1M | 1.54% |
3,350,005
-90,023
| -3% | -$1.59M |
|
15
Saic
SAIC
$5.03B
| $49.8M | 1.5% |
570,182
-6,946
| -1% | -$591K |
|
16
CME Group
CME
$92.2B
| $43.2M | 1.3% |
204,626
-3,637
| -2% | -$760K |
|
17
Cheniere Energy
LNG
$56.5B
| $42.2M | 1.27% |
669,932
+58,599
| +10% | +$3.75M |
|
|
LSXMA
18
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $37M | 1.11% |
1,232,586
-152,842
| -11% | -$4.47M |
|
19
Royal Gold
RGLD
$17.1B
| $28.7M | 0.86% |
233,033
-6,692
| -3% | -$815K |
|
20
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
| $23.3M | 0.7% |
381,769
-5,912
| -2% | -$360K |
|
21
Markel Group
MKL
$25B
| $22.6M | 0.68% |
19,123
-629
| -3% | -$715K |
|
22
Berkshire Hathaway Class B
BRK.B
$1.07T
| $22.5M | 0.68% |
108,257
-1,937
| -2% | -$399K |
|
23
Mastercard
MA
$477B
| $19.6M | 0.59% |
72,003
-1,106
| -2% | -$305K |
|
24
CALL
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$162M
| $18M | 0.54% |
4,688
-937
| -17% | -$1.49M |
|
25
Madison Square Garden
MSGS
$9.54B
| $17.8M | 0.54% |
94,729
-2,141
| -2% | -$420K |
|
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Horizon Kinetics Asset Management's Q3 2019 Portfolio in Review
As of Q3 2019, Horizon Kinetics Asset Management held 498 positions worth $3.32B, down 8.2% from $3.62B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Horizon Kinetics Asset Management withdrew a net $104M in Q3 2019, closing 14 positions and reducing 267 holdings. Its most notable exit was OAKTREE CAPITAL GROUP, LLC, an estimated $11.3M position sold in full.
By sector, the portfolio is most concentrated in Energy at 41% of assets, down from 46% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Horizon Kinetics Asset Management opened a new position in StoneCo worth $535K.
- Horizon Kinetics Asset Management's largest Q3 2019 buy was StoneCo: 15,391 shares worth $535K.
- Horizon Kinetics Asset Management added most to Equity Lifestyle Properties in Q3 2019, an estimated $16.4M increase.
- Horizon Kinetics Asset Management's biggest Q3 2019 reduction was GE Aerospace, cutting an estimated $21.5M.
- Horizon Kinetics Asset Management fully exited OAKTREE CAPITAL GROUP, LLC in Q3 2019, selling an estimated $11.3M.
- Horizon Kinetics Asset Management's ten largest holdings make up 62% of its $3.32B portfolio in Q3 2019.
- Horizon Kinetics Asset Management opened 5 new positions and closed 14 in Q3 2019.
- Horizon Kinetics Asset Management's portfolio value fell 8.2% quarter-over-quarter to $3.32B.
Based on Horizon Kinetics Asset Management's 13F filing for Q3 2019, filed 14 Nov 2019.