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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
BHC icon
276
Bausch Health
BHC
$2.34B
$473K 0.01%
22,739
-3,534
-13% -$56K
2017 Q1
3 quarters
BPY
277
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$472K 0.01%
21,318
– –
2013 Q2
18 quarters
NG icon
278
NovaGold Resources
NG
$2.76B
$471K 0.01%
119,761
+6,274
+6% +$25K
2013 Q2
18 quarters
USB icon
279
US Bancorp
USB
$88.9B
$470K 0.01%
8,768
– –
2016 Q4
4 quarters
TDAY icon
280
USA Today Co
TDAY
$1.05B
$469K 0.01%
27,959
-14,694
-34% -$239K
2015 Q1
11 quarters
FIS icon
281
Fidelity National Information Services
FIS
$18.8B
$467K 0.01%
4,961
– –
2013 Q2
18 quarters
SPG icon
282
Simon Property Group
SPG
$64.8B
$462K 0.01%
2,694
-51
-2% -$8.28K
2013 Q3
17 quarters
BXP icon
283
Boston Properties
BXP
$9.36B
$460K 0.01%
3,533
-95
-3% -$11.9K
2013 Q3
17 quarters
ATCO
284
DELISTED
Atlas Corp.
ATCO
$459K 0.01%
68,028
+13,006
+24% +$84.9K
2016 Q2
6 quarters
WTI icon
285
W&T Offshore
WTI
$546M
$455K 0.01%
137,508
-11,135
-7% -$34.6K
2013 Q3
17 quarters
AMP icon
286
Ameriprise Financial
AMP
$43.5B
$454K 0.01%
2,681
– –
2016 Q1
7 quarters
BTT icon
287
BlackRock Municipal 2030 Target Term Trust
BTT
$1.38B
$454K 0.01%
+20,310
New +$457K
2017 Q4
0 quarters
WTM icon
288
White Mountains Insurance
WTM
$5.13B
$453K 0.01%
532
– –
2016 Q4
4 quarters
MTUS icon
289
Metallus
MTUS
$855M
$450K 0.01%
29,615
+4,969
+20% +$75.5K
2014 Q3
13 quarters
LE icon
290
Lands' End
LE
$306M
$449K 0.01%
22,979
-11,558
-33% -$160K
2014 Q2
14 quarters
SCHW icon
291
Charles Schwab
SCHW
$161B
$449K 0.01%
8,746
-1,510
-15% -$70.9K
2013 Q3
17 quarters
PG icon
292
Procter & Gamble
PG
$369B
$448K 0.01%
4,878
– –
2013 Q2
18 quarters
CVA
293
DELISTED
Covanta Holding Corporation
CVA
$448K 0.01%
26,498
-1,096
-4% -$16.9K
2013 Q3
17 quarters
EXTN
294
DELISTED
Exterran Corporation
EXTN
$446K 0.01%
14,164
+1,134
+9% +$35.1K
2015 Q4
8 quarters
HRG
295
DELISTED
HRG Group, Inc.
HRG
$444K 0.01%
26,187
-5,937
-18% -$95.9K
2013 Q3
17 quarters
NKE icon
296
Nike
NKE
$55.3B
$439K 0.01%
7,020
-1,567
-18% -$90.1K
2013 Q3
17 quarters
MAR icon
297
Marriott International
MAR
$100B
$438K 0.01%
3,225
-559
-15% -$68.6K
2013 Q2
18 quarters
BF.B icon
298
Brown-Forman Class B
BF.B
$13.2B
$437K 0.01%
9,933
-1,748
-15% -$66.7K
2013 Q3
17 quarters
PJT icon
299
PJT Partners
PJT
$3.48B
$435K 0.01%
9,555
-1,545
-14% -$62.8K
2016 Q1
7 quarters
RVTY icon
300
Revvity
RVTY
$17.3B
$435K 0.01%
5,950
+250
+4% +$17.9K
2016 Q4
4 quarters
10 11
12
13 14

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OA
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TGA
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PWM
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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.