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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
MPC icon
426
Marathon Petroleum
MPC
$134B
$302K 0.01%
4,576
-70
-2% -$4.28K
2016 Q4
4 quarters
WIA icon
427
Western Asset Inflation-Linked Income Fund
WIA
$178M
$297K 0.01%
25,149
-4,000
-14% -$46.3K
2015 Q1
11 quarters
EFR icon
428
Eaton Vance Senior Floating-Rate Fund
EFR
$301M
$291K 0.01%
20,129
– –
2013 Q2
18 quarters
CSWC icon
429
Capital Southwest
CSWC
$1.5B
$289K 0.01%
17,500
– –
2014 Q4
12 quarters
PPT icon
430
Franklin Premier Income Trust
PPT
$313M
$288K 0.01%
53,963
-52,601
-49% -$277K
2017 Q1
3 quarters
PTY icon
431
PIMCO Corporate & Income Opportunity Fund
PTY
$2.4B
$288K 0.01%
17,500
– –
2013 Q2
18 quarters
QCOM icon
432
Qualcomm
QCOM
$191B
$282K 0.01%
4,401
+100
+2% +$6.06K
2016 Q1
7 quarters
AFL icon
433
Aflac
AFL
$59.2B
$281K 0.01%
6,400
-492
-7% -$21K
2016 Q1
7 quarters
NMZ icon
434
Nuveen Municipal High Income Opportunity Fund
NMZ
$1.96B
$278K 0.01%
20,450
+3,400
+20% +$46.4K
2013 Q2
18 quarters
RTX icon
435
RTX Corp
RTX
$252B
$277K 0.01%
+3,448
New +$262K
2017 Q4
0 quarters
SBI icon
436
Western Asset Intermediate Muni Fund
SBI
$102M
$277K 0.01%
29,757
-10,222
-26% -$97.4K
2015 Q4
8 quarters
BWXT icon
437
BWX Technologies
BWXT
$12.6B
$276K 0.01%
4,565
-1,332
-23% -$80.3K
2015 Q3
9 quarters
PTR
438
DELISTED
PETROCHINA COMPANY LIMITED ADS (REP 100 H SHARES)
PTR
$272K 0.01%
3,882
– –
2013 Q2
18 quarters
BABA icon
439
Alibaba
BABA
$276B
$270K 0.01%
1,566
+76
+5% +$13.6K
2017 Q2
2 quarters
GD icon
440
General Dynamics
GD
$91.2B
$270K 0.01%
1,328
– –
2017 Q2
2 quarters
MAV
441
DELISTED
Pioneer Municipal High Income Advantage Fund
MAV
$269K 0.01%
23,651
+3,298
+16% +$37.8K
2017 Q2
2 quarters
LMT icon
442
Lockheed Martin
LMT
$123B
$259K 0.01%
806
– –
2017 Q1
3 quarters
GRC icon
443
Gorman-Rupp
GRC
$1.91B
$258K 0.01%
8,272
+200
+2% +$6.34K
2013 Q2
18 quarters
MYN icon
444
BlackRock MuniYield New York Quality Fund
MYN
$834M
$258K 0.01%
19,985
+4,279
+27% +$55.8K
2013 Q2
18 quarters
ETN icon
445
Eaton
ETN
$156B
$254K 0.01%
3,218
-21
-0.6% -$1.63K
2017 Q3
1 quarter
AQB icon
446
AquaBounty Technologies
AQB
$5.66M
$245K 0.01%
3,485
+937
+37% +$93.2K
2017 Q1
3 quarters
LLL
447
DELISTED
L3 Technologies, Inc.
LLL
$242K 0.01%
1,226
– –
2016 Q4
4 quarters
ENX
448
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$239K 0.01%
19,347
– –
2013 Q2
18 quarters
MQT icon
449
DELISTED
BlackRock MuniYield Quality Fund II
MQT
$239K 0.01%
+18,236
New +$238K
2017 Q4
0 quarters
PX icon
450
DELISTED
Praxair Inc
PX
$230K 0.01%
1,485
– –
2017 Q3
1 quarter
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.