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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
-6.91%
1 Year Est. Return
+27.52%
3 Year Est. Return
+184.83%
5 Year Est. Return
+256.84%
10 Year Est. Return
–
AUM
$4.64B
AUM Growth
-$565M
(-11%)
Cap. Flow
-$109M
Cap. Flow
% of AUM
-2.35%
Top 10 Holdings %
Top 10 Hldgs %
65.42%
Holding
341
New
7
Increased
67
Reduced
144
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cameco
CCJ
|
+$20.5M |
| 2 |
Vanguard Short-Term Treasury ETF
VGSH
|
+$4.81M |
| 3 |
Eli Lilly
LLY
|
+$2.28M |
| 4 |
Madison Square Garden
MSGE
|
+$1.72M |
| 5 |
Horizon Kinetics SPAC Active ETF
SPAQ
|
+$731K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Brookfield
BN
|
+$25.8M |
| 2 |
Icahn Enterprises
IEP
|
+$22.1M |
| 3 |
Texas Pacific Land
TPL
|
+$22M |
| 4 |
Cohen & Steers
CNS
|
+$12.2M |
| 5 |
Wheaton Precious Metals
WPM
|
+$6.13M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 48.05% |
| 2 | Materials | 10.65% |
| 3 | Financials | 8.97% |
| 4 | Consumer Discretionary | 5.04% |
| 5 | Technology | 4.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Texas Pacific Land
TPL
$28.9B
| $1.85B | 39.8% |
12,634,803
-137,385
| -1% | -$22M |
|
2
CACI
CACI
$10.8B
| $150M | 3.23% |
440,077
-11,004
| -2% | -$3.42M |
|
|
3
Wheaton Precious Metals
WPM
$50.6B
| $144M | 3.11% |
3,342,538
-128,992
| -4% | -$6.13M |
|
4
Franco-Nevada
FNV
$41.4B
| $143M | 3.09% |
1,005,054
-32,928
| -3% | -$4.94M |
|
5
Intercontinental Exchange
ICE
$82.4B
| $104M | 2.25% |
924,006
-42,663
| -4% | -$4.62M |
|
|
PBT
6
Permian Basin Royalty Trust
PBT
$1.36B
| $99.6M | 2.14% |
3,993,403
-44,662
| -1% | -$1.1M |
|
7
Cheniere Energy
LNG
$56.5B
| – | – |
0
| – | – |
|
8
Civeo
CVEO
$379M
| $79.3M | 1.71% |
4,069,687
+15,142
| +0.4% | +$305K |
|
9
Archer Daniels Midland
ADM
$41.4B
| $67.8M | 1.46% |
896,771
-71,170
| -7% | -$5.39M |
|
|
MSB
10
Mesabi Trust
MSB
$295M
| $60.3M | 1.3% |
2,956,430
+2,604
| +0.1% | +$55.9K |
|
11
ProShares Short VIX Short-Term Futures ETF
SVXY
$220M
| $59.8M | 1.29% |
1,413,108
-101,540
| -7% | -$3.67M |
|
12
Cboe Global Markets
CBOE
$29.8B
| $55.9M | 1.2% |
405,246
-3,749
| -0.9% | -$512K |
|
13
AutoNation
AN
$6.97B
| $51.8M | 1.12% |
314,544
-2,860
| -0.9% | -$397K |
|
14
Charles River Laboratories
CRL
$10.9B
| $48.9M | 1.05% |
232,500
-14,468
| -6% | -$2.88M |
|
15
Viper Energy
VNOM
$8.81B
| $48.6M | 1.05% |
1,810,465
-200,654
| -10% | -$5.49M |
|
16
Saic
SAIC
$5.03B
| $48.5M | 1.04% |
431,366
-857
| -0.2% | -$89K |
|
17
Howard Hughes
HHH
$3.93B
| $47.4M | 1.02% |
629,406
-26,629
| -4% | -$1.93M |
|
|
STR
18
DELISTED
Sitio Royalties
STR
| $45M | 0.97% |
1,712,101
-186,984
| -10% | -$4.79M |
|
|
19
Brookfield
BN
$102B
| $44.2M | 0.95% |
1,970,040
-1,217,045
| -38% | -$25.8M |
|
|
AC
20
DELISTED
Associated Capital Group
AC
| $43.3M | 0.93% |
1,222,068
-14,396
| -1% | -$527K |
|
21
CME Group
CME
$92.2B
| $42.9M | 0.92% |
231,427
-9,160
| -4% | -$1.69M |
|
22
Live Nation Entertainment
LYV
$41.2B
| $40.3M | 0.87% |
442,466
-9,961
| -2% | -$778K |
|
|
MRSH
23
Marsh
MRSH
$86.3B
| $39.2M | 0.85% |
208,674
-23,580
| -10% | -$4.18M |
|
24
Bunge Global
BG
$23.6B
| $37.9M | 0.82% |
402,072
-39,365
| -9% | -$3.65M |
|
25
West Fraser Timber
WFG
$5.18B
| $35.3M | 0.76% |
410,803
-43,920
| -10% | -$3.31M |
|
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Horizon Kinetics Asset Management's Q2 2023 Portfolio in Review
As of Q2 2023, Horizon Kinetics Asset Management held 341 positions worth $4.64B, down 11% from $5.21B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Trading was light in Q2 2023: portfolio turnover was 4.1%. Horizon Kinetics Asset Management opened 7 new positions and exited 7, leaving the 341-position portfolio largely intact.
By sector, the portfolio is most concentrated in Energy at 48% of assets, down from 54% a quarter earlier, followed by Materials and Financials.
- Horizon Kinetics Asset Management's largest Q2 2023 buy was Cameco: 728,312 shares worth $22.8M.
- Horizon Kinetics Asset Management added most to Vanguard Short-Term Treasury ETF in Q2 2023, an estimated $4.81M increase.
- Horizon Kinetics Asset Management's biggest Q2 2023 reduction was Brookfield, cutting an estimated $25.8M.
- Horizon Kinetics Asset Management fully exited Icahn Enterprises in Q2 2023, selling an estimated $22.1M.
- Horizon Kinetics Asset Management's ten largest holdings make up 65% of its $4.64B portfolio in Q2 2023.
- Horizon Kinetics Asset Management opened 7 new positions and closed 7 in Q2 2023.
- Horizon Kinetics Asset Management's portfolio value fell 11% quarter-over-quarter to $4.64B.
Based on Horizon Kinetics Asset Management's 13F filing for Q2 2023, filed 14 Aug 2023.