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Horizon Kinetics Portfolio holdings

AUM $3.06B
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

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
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
WIW
226
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$511M
$727K 0.02%
63,676
-16,500
-21% -$186K
MTW icon
227
Manitowoc
MTW
$686M
$713K 0.02%
18,123
-1,868
-9% -$72.2K
LILAK icon
228
Liberty Latin America Class C
LILAK
$1.62B
$711K 0.02%
41,709
+2,214
+6% +$41.6K
IFF icon
229
International Flavors & Fragrances
IFF
$22.2B
$710K 0.02%
4,650
– –
META icon
230
Meta Platforms (Facebook)
META
$1.45T
$710K 0.02%
4,024
+154
+4% +$27.2K
EXPE icon
231
Expedia Group
EXPE
$38.3B
$694K 0.02%
5,798
+619
+12% +$80.3K
JRO
232
DELISTED
Nuveen Floating Rate Income Opportunty Fund
JRO
$683K 0.02%
59,902
– –
DMLP icon
233
Dorchester Minerals
DMLP
$1.41B
$678K 0.02%
+44,600
New +$663K
GILD icon
234
Gilead Sciences
GILD
$185B
$674K 0.02%
9,400
– –
MMM icon
235
3M
MMM
$92.2B
$666K 0.02%
3,387
+383
+13% +$73.7K
CMCSA icon
236
Comcast
CMCSA
$93.7B
$627K 0.02%
15,664
-151
-1% -$5.68K
ORCL icon
237
Oracle
ORCL
$438B
$614K 0.02%
12,974
-215
-2% -$10.5K
DGX icon
238
Quest Diagnostics
DGX
$27B
$611K 0.02%
6,200
-100
-2% -$9.48K
SUN icon
239
Sunoco
SUN
$14.2B
$610K 0.02%
21,479
-193
-0.9% -$5.82K
KMF
240
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
$609K 0.02%
+44,156
New +$594K
SPE
241
Special Opportunities Fund
SPE
$144M
$606K 0.02%
42,662
-11,574
-21% -$174K
HTZ
242
DELISTED
Hertz Global Holdings, Inc.
HTZ
$601K 0.02%
31,286
-1,794
-5% -$34.7K
VNOM icon
243
Viper Energy
VNOM
$16B
$600K 0.02%
25,719
+2,458
+11% +$49.8K
PNF
244
DELISTED
PIMCO New York Municipal Income Fund
PNF
$599K 0.02%
46,832
– –
LEN icon
245
Lennar Class A
LEN
$20.5B
$592K 0.02%
9,676
-1,416
-13% -$80.5K
DMO
246
Western Asset Mortgage Opportunity Fund
DMO
$118M
$591K 0.02%
23,956
-29,675
-55% -$739K
GS icon
247
Goldman Sachs
GS
$303B
$580K 0.02%
2,277
-50
-2% -$12.3K
IWC icon
248
iShares Micro-Cap ETF
IWC
$1.53B
$578K 0.02%
6,038
+43
+0.7% +$4.08K
EPD icon
249
Enterprise Products Partners
EPD
$84.3B
$574K 0.02%
21,667
– –
JPS
250
DELISTED
Nuveen Preferred & Income Securities Fund
JPS
$572K 0.02%
56,087
-7,401
-12% -$76.3K
8 9
10
11 12

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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.