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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
+4.28%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.17B
AUM Growth
+$69.2M
Cap. Flow
-$114M
Cap. Flow %
-3.59%
Top 10 Hldgs %
51.5%
Holding
524
New
19
Increased
116
Reduced
281
Closed
23
Avg Time Held Equity + Options
2.8 years
Top 10 Avg Time Held Equity + Options
1.4 years
Top 20 Avg Time Held Equity + Options
1.8 years
Avg Time Held Equity only
2.8 years
Top 10 Avg Time Held Equity only
1.6 years
Top 20 Avg Time Held Equity only
1.8 years

Top Buys

Rank Stock Value
1
CVEO icon
Civeo
CVEO
+$24.2M
2
AMCX icon
AMC Global Media
AMCX
+$11.3M
3
TPL icon
Texas Pacific Land
TPL
+$8.85M
4
FNV icon
Franco-Nevada
FNV
+$5.29M
5
BSM icon
Black Stone Minerals
BSM
+$3.15M

Top Sells

Rank Stock Value
1
WEN icon
Wendy's
WEN
+$17.2M
2
HHH icon
Howard Hughes
HHH
+$10M
3
CBOE icon
Cboe Global Markets
CBOE
+$8.56M
4
TPH icon
Tri Pointe Homes
TPH
+$7.01M
5
NWL icon
Newell Brands
NWL
+$6.5M

Sector Composition

Rank Sector Weight
1 Communication Services 24.58%
2 Energy 22.3%
3 Real Estate 11.47%
4 Financials 10.75%
5 Consumer Discretionary 10.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
NBH icon
251
Neuberger Municipal Fund Inc
NBH
$268M
$622K 0.02%
41,916
-649
-2% -$9.95K
2013 Q2
15 quarters
VRSK icon
252
Verisk Analytics
VRSK
$24.4B
$617K 0.02%
7,600
– –
2013 Q2
15 quarters
IFF icon
253
International Flavors & Fragrances
IFF
$23B
$616K 0.02%
4,650
– –
2013 Q2
15 quarters
TDAY icon
254
USA Today Co
TDAY
$1.05B
$615K 0.02%
43,313
+13
+0% +$198
2015 Q1
8 quarters
BWP
255
DELISTED
Boardwalk Pipeline Partners
BWP
$615K 0.02%
33,605
-282
-0.8% -$5.14K
2013 Q2
15 quarters
HRI icon
256
Herc Holdings
HRI
$4.15B
$611K 0.02%
12,482
-1,642
-12% -$77.3K
2014 Q4
9 quarters
YHOO
257
DELISTED
Yahoo Inc
YHOO
$608K 0.02%
13,098
-8,625
-40% -$385K
2013 Q2
15 quarters
WTM icon
258
White Mountains Insurance
WTM
$5.12B
$606K 0.02%
689
– –
2016 Q4
1 quarter
CMCSA icon
259
Comcast
CMCSA
$77.3B
$603K 0.02%
16,045
-225
-1% -$8.35K
2013 Q3
14 quarters
BBU
260
DELISTED
Brookfield Business Partners
BBU
$601K 0.02%
38,011
-1,799
-5% -$28.9K
2016 Q2
3 quarters
HRG
261
DELISTED
HRG Group, Inc.
HRG
$595K 0.02%
30,761
-6,092
-17% -$107K
2013 Q3
14 quarters
EPD icon
262
Enterprise Products Partners
EPD
$76.8B
$591K 0.02%
21,421
+854
+4% +$23.9K
2013 Q2
15 quarters
CSW icon
263
CSW Industrials
CSW
$4.74B
$581K 0.02%
15,844
– –
2015 Q4
5 quarters
MTW icon
264
Manitowoc
MTW
$809M
$581K 0.02%
25,477
+474
+2% +$11.7K
2015 Q1
8 quarters
MCD icon
265
McDonald's
MCD
$172B
$578K 0.02%
4,457
+700
+19% +$87.8K
2013 Q2
15 quarters
GNTX icon
266
Gentex
GNTX
$4.45B
$573K 0.02%
26,881
-2,080
-7% -$43.7K
2015 Q2
7 quarters
IWC icon
267
iShares Micro-Cap ETF
IWC
$1.28B
$570K 0.02%
6,652
-181
-3% -$15.4K
2016 Q2
3 quarters
ASPS icon
268
Altisource Portfolio Solutions
ASPS
$63.8M
$567K 0.02%
1,927
-80
-4% -$17.7K
2013 Q3
14 quarters
HTZ icon
269
DELISTED
Hertz Global Holdings, Inc.
HTZ
$566K 0.02%
37,138
+2,072
+6% +$37.6K
2016 Q3
2 quarters
AFSI
270
DELISTED
AmTrust Financial Services, Inc.
AFSI
$550K 0.02%
29,764
-127,550
-81% -$3.11M
2013 Q2
15 quarters
CHUBA
271
DELISTED
CommerceHub, Inc. Series A Common Stock
CHUBA
$535K 0.02%
34,556
-5,737
-14% -$89K
2016 Q3
2 quarters
CINF icon
272
Cincinnati Financial
CINF
$25.7B
$528K 0.02%
7,303
-200
-3% -$14.5K
2013 Q2
15 quarters
SUN icon
273
Sunoco
SUN
$13.7B
$526K 0.02%
21,763
-77
-0.4% -$2.04K
2014 Q4
9 quarters
GS icon
274
Goldman Sachs
GS
$260B
$521K 0.02%
2,269
+27
+1% +$6.52K
2016 Q4
1 quarter
VTN icon
275
Invesco Trust for Investment Grade New York Municipals
VTN
$142M
$517K 0.02%
38,314
– –
2013 Q2
15 quarters
9 10
11
12 13

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Horizon Kinetics's Q1 2017 Portfolio in Review

As of Q1 2017, Horizon Kinetics held 524 positions worth $3.17B, up 2.2% from $3.1B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Horizon Kinetics withdrew a net $114M in Q1 2017, closing 23 positions and reducing 281 holdings. Its most notable exit was Vanguard Extended Market ETF, an estimated $2.81M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 25% of assets, up from 23% a quarter earlier, followed by Energy and Real Estate.

Against the trend, Horizon Kinetics opened a new position in Civeo worth $24.4M.

  • Horizon Kinetics's largest Q1 2017 buy was Civeo: 679,147 shares worth $24.4M.
  • Horizon Kinetics added most to AMC Global Media in Q1 2017, an estimated $11.3M increase.
  • Horizon Kinetics's biggest Q1 2017 reduction was Wendy's, cutting an estimated $17.2M.
  • Horizon Kinetics fully exited Vanguard Extended Market ETF in Q1 2017, selling an estimated $2.81M.
  • Horizon Kinetics's ten largest holdings make up 52% of its $3.17B portfolio in Q1 2017.
  • Horizon Kinetics opened 19 new positions and closed 23 in Q1 2017.
  • Horizon Kinetics's portfolio value rose 2.2% quarter-over-quarter to $3.17B.

Based on Horizon Kinetics's 13F filing for Q1 2017, filed 15 May 2017.