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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
Cap. Flow
-$283M
Cap. Flow %
-5.93%
Top 10 Hldgs %
71.54%
Holding
347
New
16
Increased
48
Reduced
178
Closed
22

Top Buys

Rank Stock Value
1
EXP icon
Eagle Materials
EXP
+$3.54M
2
BCDF icon
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
VXF icon
Vanguard Extended Market ETF
VXF
+$675K
5
VUSB icon
Vanguard Ultra-Short Bond ETF
VUSB
+$659K

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$71.3M
2
CBRE icon
CBRE Group
CBRE
+$20.5M
3
WPM icon
Wheaton Precious Metals
WPM
+$10.8M
4
ICE icon
Intercontinental Exchange
ICE
+$10.4M
5
VNOM icon
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
TPL icon
1
Texas Pacific Land
TPL
$27.9B
$2.11B 44.08%
12,048,795
-375,444
-3% -$71.3M
WPM icon
2
Wheaton Precious Metals
WPM
$50.6B
$145M 3.03%
2,931,266
-238,792
-8% -$10.8M
CACI icon
3
CACI
CACI
$11B
$127M 2.67%
393,605
-30,337
-7% -$9.84M
ICE icon
4
Intercontinental Exchange
ICE
$83.6B
$100M 2.1%
781,939
-91,827
-11% -$10.4M
FNV icon
5
Franco-Nevada
FNV
$41.3B
$96.6M 2.02%
872,143
-84,606
-9% -$10.3M
CVEO icon
6
Civeo
CVEO
$380M
$85.3M 1.79%
3,734,335
-327,944
-8% -$7.09M
LNG icon
7
Cheniere Energy
LNG
$54.6B
– –
0
– –
CBOE icon
8
Cboe Global Markets
CBOE
$29.4B
$72.4M 1.52%
405,632
+59
+0% +$10.1K
MSB
9
Mesabi Trust
MSB
$292M
$59.8M 1.25%
2,920,318
-129,034
-4% -$2.55M
SAIC icon
10
Saic
SAIC
$5.01B
$51.7M 1.08%
416,056
-8,118
-2% -$945K
BN icon
11
Brookfield
BN
$103B
$50.4M 1.06%
1,885,509
-42,027
-2% -$954K
PBT
12
Permian Basin Royalty Trust
PBT
$1.32B
$50M 1.05%
3,583,742
-362,708
-9% -$6.49M
ADM icon
13
Archer Daniels Midland
ADM
$40.3B
$48.5M 1.02%
672,158
-136,006
-17% -$9.96M
HHH icon
14
Howard Hughes
HHH
$3.98B
$48M 1.01%
588,790
-18,731
-3% -$1.31M
AN icon
15
AutoNation
AN
$7.12B
$45.2M 0.95%
300,803
-10,161
-3% -$1.4M
CRL icon
16
Charles River Laboratories
CRL
$10.8B
$43.2M 0.9%
182,664
-31,571
-15% -$6.21M
CME icon
17
CME Group
CME
$92.4B
$42.3M 0.89%
200,730
-19,246
-9% -$4.11M
AC
18
DELISTED
Associated Capital Group
AC
$40.8M 0.85%
1,142,514
-37,852
-3% -$1.3M
VNOM icon
19
Viper Energy
VNOM
$8.49B
$38.2M 0.8%
1,216,648
-349,373
-22% -$10.4M
LYV icon
20
Live Nation Entertainment
LYV
$41.6B
$37.4M 0.78%
399,263
-16,111
-4% -$1.39M
JOE icon
21
St. Joe Company
JOE
$3.54B
$32.4M 0.68%
538,022
-75,925
-12% -$4M
PAG icon
22
Penske Automotive Group
PAG
$14.2B
$30.4M 0.64%
189,536
-6,633
-3% -$1.02M
DMLP icon
23
Dorchester Minerals
DMLP
$1.32B
$28.9M 0.6%
907,133
-55,956
-6% -$1.64M
BG icon
24
Bunge Global
BG
$22.8B
$28.1M 0.59%
278,820
-74,966
-21% -$7.86M
MRSH
25
Marsh
MRSH
$88.2B
$25.9M 0.54%
136,586
-43,424
-24% -$8.39M
1
2 3 4 5

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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.