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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
Avg Time Held
13.4 quarters
Top 10 Avg Time Held
7.4 quarters
Top 20 Avg Time Held
9.2 quarters

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
LBRDA icon
26
DELISTED
Liberty Broadband Class A
LBRDA
$18.8M 0.55%
220,940
-21,731
-9% -$1.91M
2014 Q4
12 quarters
DSL icon
27
DoubleLine Income Solutions Fund
DSL
$1.13B
$16.8M 0.49%
833,992
+6,114
+0.7% +$126K
2013 Q2
18 quarters
MSGS icon
28
Madison Square Garden
MSGS
$9.72B
$14.9M 0.44%
98,761
-7,328
-7% -$1.13M
2013 Q2
18 quarters
WYNN icon
29
Wynn Resorts
WYNN
$7.65B
$14.6M 0.43%
86,871
-3,335
-4% -$514K
2013 Q2
18 quarters
OAK
30
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
$14.4M 0.42%
342,440
-54,345
-14% -$2.4M
2013 Q2
18 quarters
ELS icon
31
Equity Lifestyle Properties
ELS
$11.5B
$12.4M 0.36%
278,904
-4,438
-2% -$197K
2013 Q2
18 quarters
NVGS icon
32
Navigator Holdings
NVGS
$1.47B
$12.1M 0.36%
1,233,025
-177,054
-13% -$1.84M
2016 Q2
6 quarters
LVS icon
33
Las Vegas Sands
LVS
$23.4B
$11.7M 0.34%
168,853
-7,583
-4% -$506K
2013 Q2
18 quarters
PTEN icon
34
Patterson-UTI
PTEN
$4.36B
$11.3M 0.33%
489,105
-4,637
-0.9% -$96.1K
2017 Q2
2 quarters
BGC icon
35
BGC Group
BGC
$5.49B
$11.1M 0.33%
1,140,530
-12,204
-1% -$123K
2013 Q3
17 quarters
MA icon
36
Mastercard
MA
$524B
$10.6M 0.31%
70,152
-2,719
-4% -$404K
2013 Q2
18 quarters
CLR
37
DELISTED
CONTINENTAL RESOURCES INC.
CLR
$10.5M 0.31%
197,913
-38,485
-16% -$1.69M
2013 Q2
18 quarters
LVNTA
38
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
$10M 0.29%
185,267
-3,627
-2% -$207K
2013 Q2
18 quarters
FWONA icon
39
Liberty Media Corporation Series A Common Stock
FWONA
$21.6B
$9.9M 0.29%
316,180
-4,262
-1% -$146K
2013 Q2
18 quarters
XOM icon
40
ExxonMobil
XOM
$708B
$9.79M 0.29%
117,097
-127
-0.1% -$10.5K
2013 Q2
18 quarters
VIAB
41
DELISTED
Viacom Inc. Class B
VIAB
$9.31M 0.27%
302,105
-215,457
-42% -$5.85M
2013 Q2
18 quarters
IPAR icon
42
Interparfums
IPAR
$3.57B
$9.13M 0.27%
210,017
-194
-0.1% -$8.43K
2013 Q2
18 quarters
JEF icon
43
Jefferies Financial Group
JEF
$10.4B
$8.89M 0.26%
374,865
-50,121
-12% -$1.16M
2013 Q2
18 quarters
GOOG icon
44
Alphabet (Google) Class C
GOOG
$4.25T
$8.73M 0.26%
166,960
-3,040
-2% -$155K
2013 Q2
18 quarters
PDI icon
45
PIMCO Dynamic Income Fund
PDI
$6.9B
$8.63M 0.25%
287,335
-30,836
-10% -$934K
2013 Q2
18 quarters
GOOGL icon
46
Alphabet (Google) Class A
GOOGL
$4.3T
$8.56M 0.25%
162,480
+680
+0.4% +$35.1K
2015 Q4
8 quarters
DBL icon
47
DoubleLine Opportunistic Credit Fund
DBL
$266M
$8.45M 0.25%
380,733
-39,459
-9% -$899K
2013 Q3
17 quarters
NTG
48
DELISTED
Tortoise Midstream Energy Fund, Inc. Common Stock
NTG
$8.24M 0.24%
46,938
-6,255
-12% -$1.05M
2016 Q1
7 quarters
BSM icon
49
Black Stone Minerals
BSM
$3.16B
$7.8M 0.23%
434,669
+6,636
+2% +$117K
2017 Q1
3 quarters
QVCGA
50
DELISTED
QVC Group Inc Series A
QVCGA
$7.6M 0.22%
6,413
-198
-3% -$230K
2013 Q2
18 quarters
1
2
3 4 5

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OA
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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.