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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
BHC icon
276
Bausch Health
BHC
$2.37B
$473K 0.01%
22,739
-3,534
-13% -$56K
BPY
277
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$472K 0.01%
21,318
– –
NG icon
278
NovaGold Resources
NG
$3.8B
$471K 0.01%
119,761
+6,274
+6% +$25K
USB icon
279
US Bancorp
USB
$97.1B
$470K 0.01%
8,768
– –
TDAY
280
USA Today Co
TDAY
$929M
$469K 0.01%
27,959
-14,694
-34% -$239K
FIS icon
281
Fidelity National Information Services
FIS
$21.3B
$467K 0.01%
4,961
– –
SPG icon
282
Simon Property Group
SPG
$69.5B
$462K 0.01%
2,694
-51
-2% -$8.28K
BXP icon
283
Boston Properties
BXP
$11.1B
$460K 0.01%
3,533
-95
-3% -$11.9K
ATCO
284
DELISTED
Atlas Corp.
ATCO
$459K 0.01%
68,028
+13,006
+24% +$84.9K
WTI icon
285
W&T Offshore
WTI
$542M
$455K 0.01%
137,508
-11,135
-7% -$34.6K
AMP icon
286
Ameriprise Financial
AMP
$49.3B
$454K 0.01%
2,681
– –
BTT icon
287
BlackRock Municipal 2030 Target Term Trust
BTT
$1.44B
$454K 0.01%
+20,310
New +$457K
WTM icon
288
White Mountains Insurance
WTM
$5.11B
$453K 0.01%
532
– –
MTUS icon
289
Metallus
MTUS
$812M
$450K 0.01%
29,615
+4,969
+20% +$75.5K
LE icon
290
Lands' End
LE
$368M
$449K 0.01%
22,979
-11,558
-33% -$160K
SCHW
291
Charles Schwab
SCHW
$191B
$449K 0.01%
8,746
-1,510
-15% -$70.9K
PG icon
292
Procter & Gamble
PG
$333B
$448K 0.01%
4,878
– –
CVA
293
DELISTED
Covanta Holding Corporation
CVA
$448K 0.01%
26,498
-1,096
-4% -$16.9K
EXTN
294
DELISTED
Exterran Corporation
EXTN
$446K 0.01%
14,164
+1,134
+9% +$35.1K
HRG
295
DELISTED
HRG Group, Inc.
HRG
$444K 0.01%
26,187
-5,937
-18% -$95.9K
NKE icon
296
Nike
NKE
$58.3B
$439K 0.01%
7,020
-1,567
-18% -$90.1K
MAR icon
297
Marriott International
MAR
$91.7B
$438K 0.01%
3,225
-559
-15% -$68.6K
BF.B icon
298
Brown-Forman Class B
BF.B
$12.5B
$437K 0.01%
9,933
-1,748
-15% -$66.7K
PJT icon
299
PJT Partners
PJT
$4.64B
$435K 0.01%
9,555
-1,545
-14% -$62.8K
RVTY icon
300
Revvity
RVTY
$14.3B
$435K 0.01%
5,950
+250
+4% +$17.9K
10 11
12
13 14

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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.