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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
MSM icon
301
MSC Industrial Direct
MSM
$6.81B
$432K 0.01%
4,472
-907
-17% -$75.8K
PENN icon
302
PENN Entertainment
PENN
$2.33B
$432K 0.01%
13,790
-3,478
-20% -$93.9K
AXE
303
DELISTED
Anixter International Inc
AXE
$432K 0.01%
5,690
+730
+15% +$53.7K
CVI icon
304
CVR Energy
CVI
$4B
$431K 0.01%
11,579
-4,750
-29% -$148K
HES
305
DELISTED
Hess
HES
$431K 0.01%
9,078
+16
+0.2% +$722
RL icon
306
Ralph Lauren
RL
$21B
$431K 0.01%
4,154
-258
-6% -$23.8K
UA icon
307
Under Armour Class C
UA
$2.13B
$431K 0.01%
32,339
+6,519
+25% +$85.4K
URBN icon
308
Urban Outfitters
URBN
$6.75B
$429K 0.01%
12,227
-4,622
-27% -$130K
AEO icon
309
American Eagle Outfitters
AEO
$2.8B
$427K 0.01%
22,704
-5,782
-20% -$87.1K
AL
310
DELISTED
Air Lease Corp
AL
$427K 0.01%
8,878
-683
-7% -$30K
BKE icon
311
Buckle
BKE
$2.21B
$424K 0.01%
17,862
-7,119
-28% -$140K
HTH icon
312
Hilltop Holdings
HTH
$2.21B
$424K 0.01%
16,728
+961
+6% +$23.6K
TFCFA
313
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$422K 0.01%
12,224
-2,429
-17% -$72.5K
MTZ icon
314
MasTec
MTZ
$20.2B
$420K 0.01%
8,577
-93
-1% -$4.15K
WLK icon
315
Westlake Corp
WLK
$9.45B
$420K 0.01%
3,939
-912
-19% -$84.5K
HUN icon
316
Huntsman Corp
HUN
$1.69B
$419K 0.01%
12,574
-1,614
-11% -$49.4K
SMG icon
317
ScottsMiracle-Gro
SMG
$3.53B
$418K 0.01%
3,905
-157
-4% -$15.7K
AFG icon
318
American Financial Group
AFG
$11.8B
$417K 0.01%
3,843
– –
MCY icon
319
Mercury Insurance
MCY
$5.69B
$417K 0.01%
7,801
+674
+9% +$37.1K
RES icon
320
RPC Inc
RES
$1.42B
$417K 0.01%
16,346
-736
-4% -$17.7K
NAV
321
DELISTED
Navistar International
NAV
$417K 0.01%
9,729
+95
+1% +$3.95K
CNS icon
322
Cohen & Steers
CNS
$4.25B
$416K 0.01%
8,793
-1,212
-12% -$53.4K
COLM icon
323
Columbia Sportswear
COLM
$2.91B
$416K 0.01%
5,789
-943
-14% -$61.9K
H icon
324
Hyatt Hotels
H
$16.3B
$416K 0.01%
5,650
-806
-12% -$54.5K
KMB icon
325
Kimberly-Clark
KMB
$36.6B
$416K 0.01%
3,446
– –
11 12
13
14 15

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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.