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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
-20.73%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.06B
AUM Growth
-$1.05B
Cap. Flow
-$179M
Cap. Flow %
-5.84%
Top 10 Hldgs %
59.41%
Holding
517
New
14
Increased
126
Reduced
256
Closed
44

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$15.1M
2
CACI icon
CACI
CACI
+$13.4M
3
GE icon
GE Aerospace
GE
+$13.4M
4
VXF icon
Vanguard Extended Market ETF
VXF
+$5.8M
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$5M

Top Sells

Rank Stock Value
1
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$26.6M
2
HHH icon
Howard Hughes
HHH
+$18.5M
3
TPL icon
Texas Pacific Land
TPL
+$14M
4
LBRDK
Liberty Broadband Class C
LBRDK
+$12.3M
5
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$12.2M

Sector Composition

Rank Sector Weight
1 Energy 38.17%
2 Miscellaneous 14.25%
3 Communication Services 13.24%
4 Financials 11.44%
5 Real Estate 6.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TROW icon
276
T. Rowe Price
TROW
$23.7B
$359K 0.01%
3,891
– –
VMI icon
277
Valmont Industries
VMI
$9.19B
$358K 0.01%
3,225
– –
NVO
278
Novo Nordisk
NVO
$202B
$357K 0.01%
15,480
– –
SPG icon
279
Simon Property Group
SPG
$69.4B
$357K 0.01%
2,130
-358
-14% -$64K
LTRPA
280
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
$353K 0.01%
22,261
-9,651
-30% -$155K
META icon
281
Meta Platforms (Facebook)
META
$1.47T
$350K 0.01%
2,673
-911
-25% -$132K
NVG icon
282
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.63B
$349K 0.01%
24,971
-1,157
-4% -$15.9K
LYB icon
283
LyondellBasell Industries
LYB
$20.6B
$348K 0.01%
4,182
+20
+0.5% +$1.83K
XPO icon
284
XPO
XPO
$22.1B
$348K 0.01%
17,661
+7,203
+69% +$200K
BF.B icon
285
Brown-Forman Class B
BF.B
$12.5B
$346K 0.01%
7,254
-1,276
-15% -$60.6K
BX icon
286
Blackstone
BX
$107B
$346K 0.01%
11,622
+50
+0.4% +$1.65K
FDX icon
287
FedEx
FDX
$78.3B
$345K 0.01%
2,139
+84
+4% +$17.8K
TTEC icon
288
TTEC Holdings
TTEC
$69M
$345K 0.01%
12,074
-4,693
-28% -$124K
VIRT icon
289
Virtu Financial
VIRT
$5.86B
$345K 0.01%
13,376
-5,205
-28% -$126K
KMB icon
290
Kimberly-Clark
KMB
$36.4B
$344K 0.01%
3,016
+50
+2% +$5.55K
LE icon
291
Lands' End
LE
$370M
$340K 0.01%
23,971
+232
+1% +$3.76K
AEO icon
292
American Eagle Outfitters
AEO
$2.83B
$339K 0.01%
17,540
+286
+2% +$5.96K
FCNCA icon
293
First Citizens BancShares
FCNCA
$24.8B
$338K 0.01%
896
-12
-1% -$5.04K
NEU icon
294
NewMarket
NEU
$8.41B
$338K 0.01%
819
-195
-19% -$77.2K
AMKR icon
295
Amkor Technology
AMKR
$11.9B
$337K 0.01%
51,326
-536
-1% -$3.54K
PJT icon
296
PJT Partners
PJT
$4.67B
$337K 0.01%
8,675
+590
+7% +$26.5K
WLK icon
297
Westlake Corp
WLK
$9.68B
$337K 0.01%
5,098
+380
+8% +$27.5K
CRM icon
298
Salesforce
CRM
$211B
$334K 0.01%
2,439
-175
-7% -$24.1K
HTH icon
299
Hilltop Holdings
HTH
$2.21B
$334K 0.01%
18,739
-1,411
-7% -$26.7K
HTLD icon
300
Heartland Express
HTLD
$942M
$334K 0.01%
18,249
-1,691
-8% -$32.2K
10 11
12
13 14

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Horizon Kinetics's Q4 2018 Portfolio in Review

As of Q4 2018, Horizon Kinetics held 517 positions worth $3.06B, down 25% from $4.11B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Horizon Kinetics withdrew a net $179M in Q4 2018, closing 44 positions and reducing 256 holdings. Its most notable exit was Copart, an estimated $3.71M position sold in full.

By sector, the portfolio is most concentrated in Energy at 38% of assets, down from 44% a quarter earlier, followed by Miscellaneous and Communication Services.

Against the trend, Horizon Kinetics opened a new position in Vanguard Extended Market ETF worth $5.28M.

  • Horizon Kinetics's largest Q4 2018 buy was Vanguard Extended Market ETF: 52,921 shares worth $5.28M.
  • Horizon Kinetics added most to Cheniere Energy in Q4 2018, an estimated $15.1M increase.
  • Horizon Kinetics's biggest Q4 2018 reduction was Vanguard Short-Term Treasury ETF, cutting an estimated $26.6M.
  • Horizon Kinetics fully exited Copart in Q4 2018, selling an estimated $3.71M.
  • Horizon Kinetics's ten largest holdings make up 59% of its $3.06B portfolio in Q4 2018.
  • Horizon Kinetics opened 14 new positions and closed 44 in Q4 2018.
  • Horizon Kinetics's portfolio value fell 25% quarter-over-quarter to $3.06B.

Based on Horizon Kinetics's 13F filing for Q4 2018, filed 14 Feb 2019.