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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
MPC icon
426
Marathon Petroleum
MPC
$102B
$302K 0.01%
4,576
-70
-2% -$4.28K
WIA
427
Western Asset Inflation-Linked Income Fund
WIA
$186M
$297K 0.01%
25,149
-4,000
-14% -$46.3K
EFR
428
Eaton Vance Senior Floating-Rate Fund
EFR
$311M
$291K 0.01%
20,129
– –
CSWC icon
429
Capital Southwest
CSWC
$1.62B
$289K 0.01%
17,500
– –
PPT
430
Franklin Premier Income Trust
PPT
$330M
$288K 0.01%
53,963
-52,601
-49% -$277K
PTY icon
431
PIMCO Corporate & Income Opportunity Fund
PTY
$2.5B
$288K 0.01%
17,500
– –
QCOM icon
432
Qualcomm
QCOM
$176B
$282K 0.01%
4,401
+100
+2% +$6.06K
AFL icon
433
Aflac
AFL
$58.4B
$281K 0.01%
6,400
-492
-7% -$21K
NMZ icon
434
Nuveen Municipal High Income Opportunity Fund
NMZ
$2.16B
$278K 0.01%
20,450
+3,400
+20% +$46.4K
RTX icon
435
RTX Corp
RTX
$286B
$277K 0.01%
+3,448
New +$262K
SBI
436
Western Asset Intermediate Muni Fund
SBI
$107M
$277K 0.01%
29,757
-10,222
-26% -$97.4K
BWXT icon
437
BWX Technologies
BWXT
$14.3B
$276K 0.01%
4,565
-1,332
-23% -$80.3K
PTR
438
DELISTED
PETROCHINA COMPANY LIMITED ADS (REP 100 H SHARES)
PTR
$272K 0.01%
3,882
– –
BABA icon
439
Alibaba
BABA
$289B
$270K 0.01%
1,566
+76
+5% +$13.6K
GD icon
440
General Dynamics
GD
$103B
$270K 0.01%
1,328
– –
MAV
441
DELISTED
Pioneer Municipal High Income Advantage Fund
MAV
$269K 0.01%
23,651
+3,298
+16% +$37.8K
LMT icon
442
Lockheed Martin
LMT
$131B
$259K 0.01%
806
– –
GRC icon
443
Gorman-Rupp
GRC
$2.05B
$258K 0.01%
8,272
+200
+2% +$6.34K
MYN icon
444
BlackRock MuniYield New York Quality Fund
MYN
$373M
$258K 0.01%
19,985
+4,279
+27% +$55.8K
ETN icon
445
Eaton
ETN
$162B
$254K 0.01%
3,218
-21
-0.6% -$1.63K
AQB icon
446
AquaBounty Technologies
AQB
$6.74M
$245K 0.01%
3,485
+937
+37% +$93.2K
LLL
447
DELISTED
L3 Technologies, Inc.
LLL
$242K 0.01%
1,226
– –
ENX
448
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$239K 0.01%
19,347
– –
MQT
449
DELISTED
BlackRock MuniYield Quality Fund II
MQT
$239K 0.01%
+18,236
New +$238K
PX
450
DELISTED
Praxair Inc
PX
$230K 0.01%
1,485
– –
16 17
18
19 20

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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.