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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
MSM icon
301
MSC Industrial Direct
MSM
$7.24B
$432K 0.01%
4,472
-907
-17% -$75.8K
2013 Q2
18 quarters
PENN icon
302
PENN Entertainment
PENN
$2.02B
$432K 0.01%
13,790
-3,478
-20% -$93.9K
2015 Q1
11 quarters
AXE
303
DELISTED
Anixter International Inc
AXE
$432K 0.01%
5,690
+730
+15% +$53.7K
2013 Q3
17 quarters
CVI icon
304
CVR Energy
CVI
$6.18B
$431K 0.01%
11,579
-4,750
-29% -$148K
2013 Q3
17 quarters
HES icon
305
DELISTED
Hess
HES
$431K 0.01%
9,078
+16
+0.2% +$722
2013 Q3
17 quarters
RL icon
306
Ralph Lauren
RL
$23.3B
$431K 0.01%
4,154
-258
-6% -$23.8K
2013 Q3
17 quarters
UA icon
307
Under Armour Class C
UA
$2.04B
$431K 0.01%
32,339
+6,519
+25% +$85.4K
2016 Q2
6 quarters
URBN icon
308
Urban Outfitters
URBN
$7.49B
$429K 0.01%
12,227
-4,622
-27% -$130K
2013 Q3
17 quarters
AEO icon
309
American Eagle Outfitters
AEO
$3.02B
$427K 0.01%
22,704
-5,782
-20% -$87.1K
2013 Q3
17 quarters
AL icon
310
DELISTED
Air Lease Corp
AL
$427K 0.01%
8,878
-683
-7% -$30K
2013 Q2
18 quarters
BKE icon
311
Buckle
BKE
$2.4B
$424K 0.01%
17,862
-7,119
-28% -$140K
2013 Q3
17 quarters
HTH icon
312
Hilltop Holdings
HTH
$2.1B
$424K 0.01%
16,728
+961
+6% +$23.6K
2013 Q3
17 quarters
TFCFA
313
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$422K 0.01%
12,224
-2,429
-17% -$72.5K
2013 Q3
17 quarters
MTZ icon
314
MasTec
MTZ
$15.2B
$420K 0.01%
8,577
-93
-1% -$4.15K
2014 Q1
15 quarters
WLK icon
315
Westlake Corp
WLK
$8.12B
$420K 0.01%
3,939
-912
-19% -$84.5K
2013 Q3
17 quarters
HUN icon
316
Huntsman Corp
HUN
$1.49B
$419K 0.01%
12,574
-1,614
-11% -$49.4K
2013 Q3
17 quarters
SMG icon
317
ScottsMiracle-Gro
SMG
$3.12B
$418K 0.01%
3,905
-157
-4% -$15.7K
2013 Q3
17 quarters
AFG icon
318
American Financial Group
AFG
$12.1B
$417K 0.01%
3,843
– –
2014 Q1
15 quarters
MCY icon
319
Mercury Insurance
MCY
$5.67B
$417K 0.01%
7,801
+674
+9% +$37.1K
2013 Q3
17 quarters
RES icon
320
RPC Inc
RES
$1.31B
$417K 0.01%
16,346
-736
-4% -$17.7K
2013 Q3
17 quarters
NAV
321
DELISTED
Navistar International
NAV
$417K 0.01%
9,729
+95
+1% +$3.95K
2013 Q3
17 quarters
CNS icon
322
Cohen & Steers
CNS
$3.48B
$416K 0.01%
8,793
-1,212
-12% -$53.4K
2014 Q4
12 quarters
COLM icon
323
Columbia Sportswear
COLM
$3.09B
$416K 0.01%
5,789
-943
-14% -$61.9K
2013 Q3
17 quarters
H icon
324
Hyatt Hotels
H
$16B
$416K 0.01%
5,650
-806
-12% -$54.5K
2013 Q3
17 quarters
KMB icon
325
Kimberly-Clark
KMB
$34.4B
$416K 0.01%
3,446
– –
2013 Q2
18 quarters
11 12
13
14 15

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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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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.