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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
NVO icon
326
Novo Nordisk
NVO
$174B
$415K 0.01%
15,480
– –
2013 Q2
18 quarters
SBUX icon
327
Starbucks
SBUX
$109B
$415K 0.01%
7,231
-419
-5% -$23.7K
2013 Q3
17 quarters
TR icon
328
Tootsie Roll Industries
TR
$2.88B
$415K 0.01%
14,908
+503
+3% +$14.1K
2013 Q3
17 quarters
ERIE icon
329
Erie Indemnity
ERIE
$12.4B
$414K 0.01%
3,400
+108
+3% +$13.1K
2014 Q2
14 quarters
CNDT icon
330
Conduent
CNDT
$246M
$413K 0.01%
25,543
+128
+0.5% +$2K
2017 Q1
3 quarters
DDS icon
331
Dillards
DDS
$10.4B
$413K 0.01%
6,885
-211
-3% -$11.7K
2013 Q4
16 quarters
GLPI icon
332
Gaming and Leisure Properties
GLPI
$11.4B
$413K 0.01%
11,156
+557
+5% +$20.3K
2013 Q4
16 quarters
SAM icon
333
Boston Beer
SAM
$1.86B
$413K 0.01%
2,161
-419
-16% -$74.8K
2013 Q3
17 quarters
HTLD icon
334
Heartland Express
HTLD
$854M
$412K 0.01%
17,645
+505
+3% +$11.4K
2014 Q1
15 quarters
NEU icon
335
NewMarket
NEU
$8.14B
$412K 0.01%
1,036
+114
+12% +$46.2K
2013 Q3
17 quarters
TWNK
336
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
$412K 0.01%
+27,847
New +$367K
2017 Q4
0 quarters
ASPS icon
337
Altisource Portfolio Solutions
ASPS
$64.9M
$411K 0.01%
1,834
-129
-7% -$27.6K
2013 Q3
17 quarters
VAC icon
338
Marriott Vacations Worldwide
VAC
$3.88B
$411K 0.01%
3,037
-436
-13% -$57.5K
2013 Q3
17 quarters
VIRT icon
339
Virtu Financial
VIRT
$5.1B
$411K 0.01%
22,434
-250
-1% -$4.05K
2017 Q2
2 quarters
TCO
340
DELISTED
Taubman Centers Inc.
TCO
$411K 0.01%
6,289
-1,666
-21% -$91.5K
2013 Q3
17 quarters
DHI icon
341
D.R. Horton
DHI
$39.1B
$410K 0.01%
8,035
-2,589
-24% -$121K
2013 Q3
17 quarters
JWN icon
342
DELISTED
Nordstrom
JWN
$410K 0.01%
8,646
+120
+1% +$5.17K
2013 Q3
17 quarters
MMI icon
343
Marcus & Millichap
MMI
$1.07B
$410K 0.01%
12,584
-3,251
-21% -$96.8K
2015 Q4
8 quarters
CHH icon
344
Choice Hotels
CHH
$4.85B
$409K 0.01%
5,270
-1,056
-17% -$77.1K
2013 Q3
17 quarters
NOMD icon
345
Nomad Foods
NOMD
$1.6B
$408K 0.01%
24,122
-2,122
-8% -$33K
2016 Q3
5 quarters
TROW icon
346
T. Rowe Price
TROW
$21.5B
$408K 0.01%
3,891
-109
-3% -$10.6K
2013 Q2
18 quarters
RJF icon
347
Raymond James Financial
RJF
$30.2B
$407K 0.01%
6,834
-341
-5% -$19.6K
2013 Q3
17 quarters
SLGN icon
348
Silgan Holdings
SLGN
$3.94B
$407K 0.01%
13,832
+303
+2% +$8.77K
2013 Q4
16 quarters
WRB icon
349
W.R. Berkley
WRB
$27.7B
$407K 0.01%
19,177
-1,184
-6% -$24.2K
2013 Q3
17 quarters
ROL icon
350
Rollins
ROL
$16.3B
$406K 0.01%
19,640
-311
-2% -$6.35K
2013 Q3
17 quarters
12 13
14
15 16

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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.