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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
ARCC icon
451
Ares Capital
ARCC
$13.6B
$228K 0.01%
14,485
– –
2017 Q1
3 quarters
HPF icon
452
John Hancock Preferred Income Fund II
HPF
$281M
$228K 0.01%
10,589
-3,389
-24% -$72.9K
2016 Q1
7 quarters
BSE
453
DELISTED
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST
BSE
$223K 0.01%
16,967
– –
2013 Q2
18 quarters
SCHV icon
454
Schwab US Large-Cap Value ETF
SCHV
$15.5B
$217K 0.01%
11,922
– –
2017 Q3
1 quarter
GRBK icon
455
Green Brick Partners
GRBK
$2.67B
$214K 0.01%
18,963
-5,500
-22% -$60.4K
2014 Q4
12 quarters
NIM icon
456
Nuveen Select Maturities Municipal Fund
NIM
$110M
$214K 0.01%
21,500
– –
2013 Q4
16 quarters
GIS icon
457
General Mills
GIS
$17.6B
$213K 0.01%
+3,599
New +$195K
2017 Q4
0 quarters
BGT icon
458
BlackRock Floating Rate Income Trust
BGT
$301M
$210K 0.01%
15,099
-117
-0.8% -$1.63K
2013 Q2
18 quarters
BXMT icon
459
Blackstone Mortgage Trust
BXMT
$1.82B
$209K 0.01%
6,500
– –
2017 Q1
3 quarters
AIG icon
460
American International
AIG
$41.4B
$208K 0.01%
3,481
-7,631
-69% -$469K
2013 Q2
18 quarters
NVDA icon
461
NVIDIA
NVDA
$5.25T
$206K 0.01%
+42,600
New +$212K
2017 Q4
0 quarters
VTR icon
462
Ventas
VTR
$43.5B
$205K 0.01%
3,415
– –
2016 Q1
7 quarters
ABB
463
DELISTED
ABB Ltd
ABB
$204K 0.01%
+7,600
New +$195K
2017 Q4
0 quarters
AMT icon
464
American Tower
AMT
$84.5B
$203K 0.01%
+1,425
New +$203K
2017 Q4
0 quarters
PML icon
465
PIMCO Municipal Income Fund II
PML
$441M
$203K 0.01%
15,400
– –
2013 Q2
18 quarters
NRK icon
466
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$815M
$196K 0.01%
+15,129
New +$197K
2017 Q4
0 quarters
DUC
467
DELISTED
Duff & Phelps Utility & Corporate Bond Trust
DUC
$182K 0.01%
20,525
– –
2015 Q4
8 quarters
PCN icon
468
PIMCO Corporate & Income Strategy Fund
PCN
$810M
$176K 0.01%
10,241
– –
2013 Q2
18 quarters
VTN icon
469
Invesco Trust for Investment Grade New York Municipals
VTN
$142M
$174K 0.01%
12,714
– –
2013 Q2
18 quarters
MZF
470
DELISTED
Managed Duration Inv Grd Muni Fd
MZF
$172K 0.01%
12,779
– –
2013 Q2
18 quarters
EVF icon
471
Eaton Vance Senior Income Trust
EVF
$87.2M
$170K 0.01%
26,019
– –
2013 Q2
18 quarters
NBO
472
DELISTED
Neuberger Berman New York Municipal Fund Inc.
NBO
$168K ﹤0.01%
13,777
+600
+5% +$7.44K
2017 Q2
2 quarters
TGNA icon
473
DELISTED
TEGNA Inc
TGNA
$163K ﹤0.01%
11,600
-16,200
-58% -$212K
2015 Q1
11 quarters
VTA
474
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
$163K ﹤0.01%
13,948
-690
-5% -$8.06K
2013 Q2
18 quarters
VVR icon
475
Invesco Senior Income Trust
VVR
$437M
$158K ﹤0.01%
35,944
-1,531
-4% -$6.75K
2015 Q1
11 quarters
17 18
19
20 21

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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.