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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
MNE
476
DELISTED
Blackrock MUNI New York Intermediate Duration Fund, Inc.
MNE
$154K ﹤0.01%
11,296
-13,901
-55% -$191K
2017 Q1
3 quarters
BBF
477
DELISTED
BlackRock Municipal Income Investment Trust
BBF
$154K ﹤0.01%
11,019
– –
2013 Q2
18 quarters
EIM icon
478
Eaton Vance Municipal Bond Fund
EIM
$453M
$153K ﹤0.01%
12,263
– –
2013 Q2
18 quarters
EFT icon
479
Eaton Vance Floating-Rate Income Trust
EFT
$283M
$146K ﹤0.01%
10,200
– –
2013 Q2
18 quarters
PFO icon
480
Flaherty & Crumrine Preferred and Income Opportunity Fund
PFO
$113M
$144K ﹤0.01%
12,180
– –
2016 Q4
4 quarters
PHD
481
DELISTED
Pioneer Floating Rate Fund
PHD
$135K ﹤0.01%
11,778
– –
2013 Q2
18 quarters
JFR icon
482
Nuveen Floating Rate Income Fund
JFR
$1.18B
$116K ﹤0.01%
10,306
-22,262
-68% -$252K
2013 Q2
18 quarters
FRO icon
483
Frontline
FRO
$11.7B
$112K ﹤0.01%
24,300
-2,500
-9% -$14K
2016 Q2
6 quarters
HIO icon
484
Western Asset High Income Opportunity Fund
HIO
$313M
$92K ﹤0.01%
18,137
-7,920
-30% -$40K
2013 Q2
18 quarters
CLDX icon
485
Celldex Therapeutics
CLDX
$2.27B
$75K ﹤0.01%
1,756
– –
2013 Q2
18 quarters
MFIC icon
486
MidCap Financial Investment
MFIC
$700M
$68K ﹤0.01%
4,002
– –
2013 Q2
18 quarters
OBE icon
487
Obsidian Energy
OBE
$765M
$58K ﹤0.01%
6,678
-657
-9% -$5.32K
2017 Q2
2 quarters
MUX icon
488
McEwen Inc
MUX
$995M
$56K ﹤0.01%
2,439
-140
-5% -$2.83K
2013 Q2
18 quarters
TMQ icon
489
Trilogy Metals
TMQ
$444M
$34K ﹤0.01%
31,439
+5,536
+21% +$5.31K
2013 Q2
18 quarters
PACB icon
490
Pacific Biosciences
PACB
$609M
$32K ﹤0.01%
12,000
– –
2013 Q2
18 quarters
GCVRZ
491
DELISTED
Sanofi Contingent Value Rights
GCVRZ
$6K ﹤0.01%
15,940
– –
2013 Q2
18 quarters
GENZ icon
492
VanEck Digital Native Economy ETF
GENZ
$16.5M
– –
-5,466
Closed -$233K –
CARS icon
493
Cars.com
CARS
$548M
– –
-9,338
Closed -$248K –
CVS icon
494
CVS Health
CVS
$118B
– –
-2,967
Closed -$241K –
DUK icon
495
Duke Energy
DUK
$92.7B
– –
-2,708
Closed -$227K –
GNTX icon
496
Gentex
GNTX
$4.45B
– –
-24,751
Closed -$490K –
HPS icon
497
John Hancock Preferred Income Fund III
HPS
$375M
– –
-10,149
Closed -$191K –
TMV icon
498
Direxion Daily 20+ Year Treasury Bear 3X ETF
TMV
$226M
– –
-29,472
Closed -$1.41M –
WPX
499
DELISTED
WPX Energy, Inc.
WPX
– –
-12,263
Closed -$141K –
AKRX
500
DELISTED
Akorn Inc
AKRX
– –
-11,869
Closed -$394K –
17 18 19
20
21

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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.