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Horizon Kinetics

Horizon Kinetics Portfolio holdings

AUM $3.06B Turnover 11.22%
1-Year Est. Return 5.37%
This Fund
S&P 500
This Quarter Est. Return
+4.25%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.41B
AUM Growth
+$6.08M
Cap. Flow
-$165M
Cap. Flow %
-4.84%
Top 10 Hldgs %
57.39%
Holding
510
New
18
Increased
90
Reduced
292
Closed
15
Avg Time Held
3.3 years
Top 10 Avg Time Held
1.9 years
Top 20 Avg Time Held
2.3 years

Top Buys

Rank Stock Value
1
CME icon
CME Group
CME
+$29.1M
2
CBOE icon
Cboe Global Markets
CBOE
+$18.2M
3
TPL icon
Texas Pacific Land
TPL
+$8.33M
4
VXF icon
Vanguard Extended Market ETF
VXF
+$6.32M
5
RVT icon
Royce Value Trust
RVT
+$4.37M

Top Sells

Rank Stock Value
1
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$32.4M
2
WEN icon
Wendy's
WEN
+$11.3M
3
NWL icon
Newell Brands
NWL
+$10.7M
4
HHH icon
Howard Hughes
HHH
+$9.67M
5
PARA icon
Paramount Global Class B
PARA
+$6.75M

Sector Composition

Rank Sector Weight
1 Energy 30.01%
2 Communication Services 19.19%
3 Miscellaneous 11.69%
4 Financials 11.61%
5 Real Estate 10.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WIW icon
226
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$485M
$727K 0.02%
63,676
-16,500
-21% -$186K
2013 Q4
16 quarters
MTW icon
227
Manitowoc
MTW
$794M
$713K 0.02%
18,123
-1,868
-9% -$72.2K
2015 Q1
11 quarters
LILAK icon
228
Liberty Latin America Class C
LILAK
$1.61B
$711K 0.02%
41,709
+2,214
+6% +$41.6K
2015 Q3
9 quarters
IFF icon
229
International Flavors & Fragrances
IFF
$23.1B
$710K 0.02%
4,650
– –
2013 Q2
18 quarters
META icon
230
Meta Platforms (Facebook)
META
$1.86T
$710K 0.02%
4,024
+154
+4% +$27.2K
2014 Q4
12 quarters
EXPE icon
231
Expedia Group
EXPE
$34.9B
$694K 0.02%
5,798
+619
+12% +$80.3K
2013 Q2
18 quarters
JRO
232
DELISTED
Nuveen Floating Rate Income Opportunty Fund
JRO
$683K 0.02%
59,902
– –
2013 Q2
18 quarters
DMLP icon
233
Dorchester Minerals
DMLP
$1.47B
$678K 0.02%
+44,600
New +$663K
2017 Q4
0 quarters
GILD icon
234
Gilead Sciences
GILD
$198B
$674K 0.02%
9,400
– –
2015 Q1
11 quarters
MMM icon
235
3M
MMM
$85.4B
$666K 0.02%
3,387
+383
+13% +$73.7K
2015 Q3
9 quarters
CMCSA icon
236
Comcast
CMCSA
$77B
$627K 0.02%
15,664
-151
-1% -$5.68K
2013 Q3
17 quarters
ORCL icon
237
Oracle
ORCL
$402B
$614K 0.02%
12,974
-215
-2% -$10.5K
2013 Q4
16 quarters
DGX icon
238
Quest Diagnostics
DGX
$26.2B
$611K 0.02%
6,200
-100
-2% -$9.48K
2013 Q2
18 quarters
SUN icon
239
Sunoco
SUN
$13.9B
$610K 0.02%
21,479
-193
-0.9% -$5.82K
2014 Q4
12 quarters
KMF
240
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
$609K 0.02%
+44,156
New +$594K
2017 Q4
0 quarters
SPE icon
241
Special Opportunities Fund
SPE
$135M
$606K 0.02%
42,662
-11,574
-21% -$174K
2014 Q1
15 quarters
HTZ icon
242
DELISTED
Hertz Global Holdings, Inc.
HTZ
$601K 0.02%
31,286
-1,794
-5% -$34.7K
2016 Q3
5 quarters
VNOM icon
243
Viper Energy
VNOM
$8.53B
$600K 0.02%
25,719
+2,458
+11% +$49.8K
2017 Q3
1 quarter
PNF
244
DELISTED
PIMCO New York Municipal Income Fund
PNF
$599K 0.02%
46,832
– –
2013 Q2
18 quarters
LEN icon
245
Lennar Class A
LEN
$18.4B
$592K 0.02%
9,676
-1,416
-13% -$80.5K
2013 Q2
18 quarters
DMO icon
246
Western Asset Mortgage Opportunity Fund
DMO
$109M
$591K 0.02%
23,956
-29,675
-55% -$739K
2013 Q2
18 quarters
GS icon
247
Goldman Sachs
GS
$257B
$580K 0.02%
2,277
-50
-2% -$12.3K
2016 Q4
4 quarters
IWC icon
248
iShares Micro-Cap ETF
IWC
$1.27B
$578K 0.02%
6,038
+43
+0.7% +$4.08K
2016 Q2
6 quarters
EPD icon
249
Enterprise Products Partners
EPD
$77.3B
$574K 0.02%
21,667
– –
2013 Q2
18 quarters
JPS
250
DELISTED
Nuveen Preferred & Income Securities Fund
JPS
$572K 0.02%
56,087
-7,401
-12% -$76.3K
2016 Q2
6 quarters
8 9
10
11 12

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SA
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AC
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OA
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TGA
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PWM
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APFBOT
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RCM
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CFIC
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Horizon Kinetics's Q4 2017 Portfolio in Review

As of Q4 2017, Horizon Kinetics held 510 positions worth $3.41B, up 0.18% from $3.4B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Horizon Kinetics withdrew a net $165M in Q4 2017, closing 15 positions and reducing 292 holdings. Its most notable exit was Direxion Daily 20+ Year Treasury Bear 3X ETF, an estimated $1.41M position sold in full.

By sector, the portfolio is most concentrated in Energy at 30% of assets, up from 28% a quarter earlier, followed by Communication Services and Miscellaneous.

Against the trend, Horizon Kinetics opened a new position in Vanguard Extended Market ETF worth $6.45M.

  • Horizon Kinetics's largest Q4 2017 buy was Vanguard Extended Market ETF: 57,686 shares worth $6.45M.
  • Horizon Kinetics added most to CME Group in Q4 2017, an estimated $29.1M increase.
  • Horizon Kinetics's biggest Q4 2017 reduction was Vanguard Short-Term Treasury ETF, cutting an estimated $32.4M.
  • Horizon Kinetics fully exited Direxion Daily 20+ Year Treasury Bear 3X ETF in Q4 2017, selling an estimated $1.41M.
  • Horizon Kinetics's ten largest holdings make up 57% of its $3.41B portfolio in Q4 2017.
  • Horizon Kinetics opened 18 new positions and closed 15 in Q4 2017.
  • Horizon Kinetics's portfolio value rose 0.18% quarter-over-quarter to $3.41B.

Based on Horizon Kinetics's 13F filing for Q4 2017, filed 14 Feb 2018.