HK

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
-20.73%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.06B
AUM Growth
-$1.05B
Cap. Flow
-$179M
Cap. Flow %
-5.84%
Top 10 Hldgs %
59.41%
Holding
517
New
14
Increased
126
Reduced
256
Closed
44
Avg Time Held Equity + Options
3.9 years
Top 10 Avg Time Held Equity + Options
2.2 years
Top 20 Avg Time Held Equity + Options
2.8 years
Avg Time Held Equity only
4 years
Top 10 Avg Time Held Equity only
2.8 years
Top 20 Avg Time Held Equity only
2.8 years

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$15.1M
2
CACI icon
CACI
CACI
+$13.4M
3
GE icon
GE Aerospace
GE
+$13.4M
4
VXF icon
Vanguard Extended Market ETF
VXF
+$5.8M
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$5M

Top Sells

Rank Stock Value
1
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$26.6M
2
HHH icon
Howard Hughes
HHH
+$18.5M
3
TPL icon
Texas Pacific Land
TPL
+$14M
4
LBRDK icon
Liberty Broadband Class C
LBRDK
+$12.3M
5
LSXMK icon
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$12.2M

Sector Composition

Rank Sector Weight
1 Energy 38.17%
2 Miscellaneous 14.25%
3 Communication Services 13.24%
4 Financials 11.44%
5 Real Estate 6.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
PSMT icon
351
Pricesmart
PSMT
$5.22B
$315K 0.01%
5,330
+587
+12% +$40.4K
2013 Q3
21 quarters
SMG icon
352
ScottsMiracle-Gro
SMG
$2.89B
$315K 0.01%
5,126
– –
2013 Q3
21 quarters
AMH icon
353
American Homes 4 Rent
AMH
$11B
$314K 0.01%
15,823
-1,869
-11% -$38.2K
2015 Q3
13 quarters
ISRG icon
354
Intuitive Surgical
ISRG
$148B
$314K 0.01%
1,965
+129
+7% +$21.9K
2018 Q2
2 quarters
SLGN icon
355
Silgan Holdings
SLGN
$3.78B
$314K 0.01%
13,290
-1,094
-8% -$27.5K
2013 Q4
20 quarters
MORN icon
356
Morningstar
MORN
$7.65B
$312K 0.01%
2,842
-234
-8% -$27.4K
2013 Q3
21 quarters
NOMD icon
357
Nomad Foods
NOMD
$1.58B
$312K 0.01%
18,672
-731
-4% -$13.9K
2016 Q3
9 quarters
TCO
358
DELISTED
Taubman Centers Inc.
TCO
$312K 0.01%
6,859
+289
+4% +$15.2K
2013 Q3
21 quarters
CNDT icon
359
Conduent
CNDT
$232M
$311K 0.01%
29,270
+11,551
+65% +$180K
2017 Q1
7 quarters
WERN icon
360
Werner Enterprises
WERN
$1.95B
$311K 0.01%
10,512
-537
-5% -$17.5K
2013 Q3
21 quarters
SPB icon
361
Spectrum Brands
SPB
$1.77B
$310K 0.01%
7,327
+2,384
+48% +$138K
2018 Q3
1 quarter
MTUS icon
362
Metallus
MTUS
$857M
$310K 0.01%
35,442
+6,949
+24% +$79.8K
2014 Q3
17 quarters
DBRG icon
363
DELISTED
DigitalBridge
DBRG
$309K 0.01%
16,486
+243
+1% +$5.56K
2017 Q1
7 quarters
DHI icon
364
D.R. Horton
DHI
$37.4B
$309K 0.01%
8,904
-605
-6% -$22.1K
2013 Q3
21 quarters
HRI icon
365
Herc Holdings
HRI
$4.12B
$309K 0.01%
11,896
+3,847
+48% +$134K
2014 Q4
16 quarters
UA icon
366
Under Armour Class C
UA
$2B
$309K 0.01%
19,083
-3,835
-17% -$72.6K
2016 Q2
10 quarters
VMRK icon
367
Vivmark Residential
VMRK
$47B
$308K 0.01%
4,668
-1,263
-21% -$84.8K
2013 Q3
21 quarters
GLPI icon
368
Gaming and Leisure Properties
GLPI
$11.1B
$307K 0.01%
9,506
-2,118
-18% -$71.7K
2013 Q4
20 quarters
HST icon
369
Host Hotels & Resorts
HST
$15.7B
$307K 0.01%
18,437
-487
-3% -$9.12K
2013 Q3
21 quarters
UE icon
370
Urban Edge Properties
UE
$2.42B
$307K 0.01%
18,462
+108
+0.6% +$2.13K
2015 Q1
15 quarters
VNO icon
371
Vornado Realty Trust
VNO
$6.04B
$307K 0.01%
4,944
-462
-9% -$31.6K
2013 Q2
22 quarters
DKS icon
372
Dick's Sporting Goods
DKS
$13.5B
$305K 0.01%
9,785
-1,154
-11% -$40.1K
2013 Q3
21 quarters
MZTI icon
373
The Marzetti Company
MZTI
$2.76B
$304K 0.01%
1,720
-814
-32% -$139K
2014 Q1
19 quarters
NWSA icon
374
News Corp Class A
NWSA
$15.9B
$304K 0.01%
26,818
-6,146
-19% -$78.7K
2013 Q3
21 quarters
RRR icon
375
Red Rock Resorts
RRR
$2.94B
$304K 0.01%
14,959
+680
+5% +$16K
2018 Q2
2 quarters
13 14
15
16 17

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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 2018 Portfolio in Review

As of Q4 2018, Horizon Kinetics held 517 positions worth $3.06B, down 25% from $4.11B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Horizon Kinetics withdrew a net $179M in Q4 2018, closing 44 positions and reducing 256 holdings. Its most notable exit was Copart, an estimated $3.71M position sold in full.

By sector, the portfolio is most concentrated in Energy at 38% of assets, down from 44% a quarter earlier, followed by Miscellaneous and Communication Services.

Against the trend, Horizon Kinetics opened a new position in Vanguard Extended Market ETF worth $5.28M.

  • Horizon Kinetics's largest Q4 2018 buy was Vanguard Extended Market ETF: 52,921 shares worth $5.28M.
  • Horizon Kinetics added most to Cheniere Energy in Q4 2018, an estimated $15.1M increase.
  • Horizon Kinetics's biggest Q4 2018 reduction was Vanguard Short-Term Treasury ETF, cutting an estimated $26.6M.
  • Horizon Kinetics fully exited Copart in Q4 2018, selling an estimated $3.71M.
  • Horizon Kinetics's ten largest holdings make up 59% of its $3.06B portfolio in Q4 2018.
  • Horizon Kinetics opened 14 new positions and closed 44 in Q4 2018.
  • Horizon Kinetics's portfolio value fell 25% quarter-over-quarter to $3.06B.

Based on Horizon Kinetics's 13F filing for Q4 2018, filed 14 Feb 2019.