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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
AN icon
251
AutoNation
AN
$5.3B
$569K 0.02%
11,075
-9,886
-47% -$502K
2013 Q2
18 quarters
T icon
252
AT&T
T
$162B
$563K 0.02%
19,170
-56
-0.3% -$1.53K
2013 Q4
16 quarters
SHOS
253
DELISTED
Sears Hometown and Outlet Stores, Inc.
SHOS
$562K 0.02%
216,351
+41,151
+23% +$78.5K
2013 Q2
18 quarters
BBWI icon
254
Bath & Body Works
BBWI
$4.09B
$554K 0.02%
11,385
-6,712
-37% -$271K
2013 Q2
18 quarters
PAYX icon
255
Paychex
PAYX
$39.8B
$546K 0.02%
8,027
-913
-10% -$59.9K
2013 Q3
17 quarters
CINF icon
256
Cincinnati Financial
CINF
$25.6B
$544K 0.02%
7,253
– –
2013 Q2
18 quarters
WFC icon
257
Wells Fargo
WFC
$249B
$541K 0.02%
8,928
-282
-3% -$15.9K
2015 Q4
8 quarters
BKI
258
DELISTED
Black Knight, Inc. Common Stock
BKI
$538K 0.02%
+12,196
New +$551K
2017 Q4
0 quarters
EVV icon
259
Eaton Vance Limited Duration Income Fund
EVV
$964M
$533K 0.02%
39,082
-3,211
-8% -$44.1K
2013 Q2
18 quarters
NID
260
DELISTED
NUVEEN INTERMEDIATE DURATION MUNICIPAL TERM FUND
NID
$525K 0.02%
40,451
+15,860
+64% +$209K
2016 Q1
7 quarters
LTRPA
261
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
$515K 0.02%
54,636
+13,646
+33% +$140K
2014 Q3
13 quarters
IQI icon
262
Invesco Quality Municipal Securities
IQI
$471M
$507K 0.01%
40,549
+23,579
+139% +$295K
2013 Q2
18 quarters
FDX icon
263
FedEx
FDX
$69.3B
$505K 0.01%
2,023
-79
-4% -$18.1K
2013 Q3
17 quarters
DIS icon
264
Walt Disney
DIS
$192B
$499K 0.01%
4,645
+24
+0.5% +$2.47K
2015 Q4
8 quarters
AVNS icon
265
DELISTED
Avanos Medical
AVNS
$493K 0.01%
10,656
-8,000
-43% -$368K
2015 Q1
11 quarters
VMI icon
266
Valmont Industries
VMI
$8.74B
$493K 0.01%
2,975
– –
2013 Q2
18 quarters
LNG icon
267
Cheniere Energy
LNG
$57.6B
$491K 0.01%
9,123
-407
-4% -$19.6K
2015 Q3
9 quarters
MINT icon
268
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
MINT
$18.6B
$489K 0.01%
4,816
– –
2013 Q2
18 quarters
SPY icon
269
State Street SPDR S&P 500 ETF Trust
SPY
$814B
$487K 0.01%
+1,826
New +$475K
2017 Q4
0 quarters
UPS icon
270
United Parcel Service
UPS
$82.8B
$486K 0.01%
4,078
– –
2013 Q2
18 quarters
RIG icon
271
Transocean
RIG
$6.17B
$483K 0.01%
45,195
+1,386
+3% +$14.4K
2013 Q3
17 quarters
LYB icon
272
LyondellBasell Industries
LYB
$20.1B
$479K 0.01%
4,335
-374
-8% -$38.8K
2013 Q3
17 quarters
JPC icon
273
Nuveen Preferred & Income Opportunities Fund
JPC
$2.56B
$477K 0.01%
46,149
-7,699
-14% -$80.6K
2016 Q1
7 quarters
XPO icon
274
XPO
XPO
$21.8B
$475K 0.01%
14,998
-3,012
-17% -$77K
2014 Q1
15 quarters
CRR
275
DELISTED
Carbo Ceramics Inc.
CRR
$475K 0.01%
46,700
+3,600
+8% +$31.8K
2013 Q2
18 quarters
9 10
11
12 13

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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.