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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
+12.09%
1 Year Est. Return
+27.52%
3 Year Est. Return
+184.83%
5 Year Est. Return
+256.84%
10 Year Est. Return
–
AUM
$3.52B
AUM Growth
+$204M
(+6.1%)
Cap. Flow
-$211M
Cap. Flow
% of AUM
-5.98%
Top 10 Holdings %
Top 10 Hldgs %
65.22%
Holding
496
New
12
Increased
82
Reduced
263
Closed
20
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$3.58M |
| 2 |
BGC Group
BGC
|
+$2.55M |
| 3 |
CACI
CACI
|
+$2.37M |
| 4 |
Intercontinental Exchange
ICE
|
+$1.42M |
| 5 |
Vanguard Extended Market ETF
VXF
|
+$1.33M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equity Lifestyle Properties
ELS
|
+$17.7M |
| 2 |
Icahn Enterprises
IEP
|
+$14.7M |
| 3 |
Cboe Global Markets
CBOE
|
+$13M |
| 4 |
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
|
+$12.5M |
| 5 |
Howard Hughes
HHH
|
+$7.82M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 44.74% |
| 2 | Financials | 10.95% |
| 3 | Materials | 8.1% |
| 4 | Communication Services | 7.61% |
| 5 | Real Estate | 6.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Texas Pacific Land
TPL
$28.9B
| $1.39B | 39.34% |
15,973,920
-71,397
| -0.4% | -$5.22M |
|
|
2
Howard Hughes
HHH
$3.93B
| $191M | 5.41% |
1,577,469
-70,512
| -4% | -$7.82M |
|
3
Franco-Nevada
FNV
$41.4B
| $117M | 3.32% |
1,132,793
-3,615
| -0.3% | -$349K |
|
4
Wheaton Precious Metals
WPM
$50.6B
| $106M | 3.02% |
3,574,763
-3,395
| -0.1% | -$92.8K |
|
|
LSXMK
5
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $100M | 2.84% |
2,726,697
-359,682
| -12% | -$12.5M |
|
|
6
CACI
CACI
$10.8B
| $98M | 2.78% |
392,100
+10,173
| +3% | +$2.37M |
|
|
7
Icahn Enterprises
IEP
$5.17B
| $84.4M | 2.4% |
1,372,697
-227,651
| -14% | -$14.7M |
|
8
Brookfield
BN
$102B
| $83.8M | 2.38% |
4,062,155
-196,463
| -5% | -$3.92M |
|
9
Live Nation Entertainment
LYV
$41.2B
| $68.8M | 1.95% |
962,495
-42,869
| -4% | -$2.91M |
|
|
10
Cboe Global Markets
CBOE
$29.8B
| $63.2M | 1.79% |
526,560
-110,755
| -17% | -$13M |
|
11
Liberty Broadband Class C
LBRDK
$4.15B
| $59.5M | 1.69% |
473,311
-23,891
| -5% | -$2.78M |
|
|
AC
12
DELISTED
Associated Capital Group
AC
| $57.2M | 1.62% |
1,466,664
-18,810
| -1% | -$707K |
|
13
Wendy's
WEN
$1.33B
| $54.4M | 1.54% |
2,450,434
-116,146
| -5% | -$2.46M |
|
14
Saic
SAIC
$5.03B
| $47.8M | 1.36% |
549,192
-20,990
| -4% | -$1.76M |
|
15
Civeo
CVEO
$379M
| $47.1M | 1.34% |
3,041,133
-308,872
| -9% | -$3.87M |
|
16
CME Group
CME
$92.2B
| $39.4M | 1.12% |
196,415
-8,211
| -4% | -$1.68M |
|
17
Cheniere Energy
LNG
$56.5B
| $37.1M | 1.05% |
608,175
-61,757
| -9% | -$3.8M |
|
|
LSXMA
18
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $35.1M | 0.99% |
1,003,844
-228,742
| -19% | -$7.56M |
|
19
Royal Gold
RGLD
$17.1B
| $27M | 0.77% |
220,751
-12,282
| -5% | -$1.45M |
|
20
Berkshire Hathaway Class B
BRK.B
$1.07T
| $23.7M | 0.67% |
104,528
-3,729
| -3% | -$810K |
|
21
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
| $23M | 0.65% |
377,670
-4,099
| -1% | -$250K |
|
22
Mastercard
MA
$477B
| $20.6M | 0.58% |
68,831
-3,172
| -4% | -$894K |
|
|
23
Equity Lifestyle Properties
ELS
$12.8B
| $17.6M | 0.5% |
250,311
-255,245
| -50% | -$17.7M |
|
24
Navigator Holdings
NVGS
$1.34B
| $17.4M | 0.49% |
1,293,996
-68,011
| -5% | -$805K |
|
|
SAND
25
DELISTED
Sandstorm Gold
SAND
| $17.2M | 0.49% |
2,314,073
+26,092
| +1% | +$170K |
|
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Horizon Kinetics Asset Management's Q4 2019 Portfolio in Review
As of Q4 2019, Horizon Kinetics Asset Management held 496 positions worth $3.52B, up 6.1% from $3.32B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Horizon Kinetics Asset Management withdrew a net $211M in Q4 2019, closing 20 positions and reducing 263 holdings. Its most notable exit was MGM Resorts International, an estimated $997K position sold in full.
By sector, the portfolio is most concentrated in Energy at 45% of assets, up from 41% a quarter earlier, followed by Financials and Materials.
Against the trend, Horizon Kinetics Asset Management opened a new position in IHS Markit Ltd. Common Shares worth $3.8M.
- Horizon Kinetics Asset Management's largest Q4 2019 buy was IHS Markit Ltd. Common Shares: 50,377 shares worth $3.8M.
- Horizon Kinetics Asset Management added most to BGC Group in Q4 2019, an estimated $2.55M increase.
- Horizon Kinetics Asset Management's biggest Q4 2019 reduction was Equity Lifestyle Properties, cutting an estimated $17.7M.
- Horizon Kinetics Asset Management fully exited MGM Resorts International in Q4 2019, selling an estimated $997K.
- Horizon Kinetics Asset Management's ten largest holdings make up 65% of its $3.52B portfolio in Q4 2019.
- Horizon Kinetics Asset Management opened 12 new positions and closed 20 in Q4 2019.
- Horizon Kinetics Asset Management's portfolio value rose 6.1% quarter-over-quarter to $3.52B.
Based on Horizon Kinetics Asset Management's 13F filing for Q4 2019, filed 14 Feb 2020.