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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
ENOV icon
51
Enovis
ENOV
$1.05B
$7.35M 0.22%
107,748
-98,029
-48% -$6.6M
2013 Q2
18 quarters
FCE.A
52
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$7.24M 0.21%
300,447
-6,313
-2% -$156K
2013 Q2
18 quarters
RVT icon
53
Royce Value Trust
RVT
$2.09B
$7.07M 0.21%
437,436
+275,267
+170% +$4.37M
2016 Q1
7 quarters
PYPL icon
54
PayPal
PYPL
$47.9B
$6.96M 0.2%
94,584
-2,612
-3% -$189K
2015 Q3
9 quarters
JMF
55
DELISTED
NUVEEN ENERGY MLP TOTAL RETURN FUND
JMF
$6.63M 0.19%
582,123
-56,459
-9% -$621K
2016 Q1
7 quarters
NEA icon
56
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$2.99B
$6.47M 0.19%
470,759
+47,158
+11% +$647K
2013 Q2
18 quarters
VXF icon
57
Vanguard Extended Market ETF
VXF
$30.4B
$6.45M 0.19%
+57,686
New +$6.32M
2017 Q4
0 quarters
PFN icon
58
PIMCO Income Strategy Fund II
PFN
$624M
$6.02M 0.18%
577,511
-6,423
-1% -$67.6K
2013 Q2
18 quarters
WMB icon
59
Williams Companies
WMB
$90.7B
$5.99M 0.18%
196,466
-7,352
-4% -$214K
2013 Q2
18 quarters
VTI icon
60
Vanguard Morningstar Total Stock Market ETF
VTI
$703B
$5.94M 0.17%
43,263
-1,408
-3% -$188K
2015 Q3
9 quarters
KED
61
DELISTED
Kayne Anderson Energy
KED
$5.82M 0.17%
334,243
-17,136
-5% -$273K
2016 Q1
7 quarters
WBD icon
62
DELISTED
Warner Bros
WBD
$5.77M 0.17%
257,641
-99,148
-28% -$1.94M
2013 Q2
18 quarters
PARA icon
63
DELISTED
Paramount Global Class B
PARA
$5.76M 0.17%
97,711
-117,425
-55% -$6.75M
2013 Q2
18 quarters
CTR
64
DELISTED
ClearBridge MLP and Midstream Total Return Fund Inc.
CTR
$5.28M 0.15%
90,923
-6,615
-7% -$385K
2016 Q2
6 quarters
ESI icon
65
Element Solutions
ESI
$8.88B
$4.88M 0.14%
491,508
-95,649
-16% -$993K
2014 Q1
15 quarters
BIP icon
66
Brookfield Infrastructure Partners
BIP
$16.9B
$4.8M 0.14%
180,051
-2,688
-1% -$69.6K
2013 Q2
18 quarters
TPH icon
67
DELISTED
Tri Pointe Homes
TPH
$4.65M 0.14%
259,640
-732
-0.3% -$12.3K
2014 Q2
14 quarters
BATRK icon
68
Atlanta Braves Holdings Series B
BATRK
$3.35B
$4.49M 0.13%
202,184
-53,836
-21% -$1.26M
2016 Q2
6 quarters
MSGN
69
DELISTED
MSG Networks Inc.
MSGN
$4.45M 0.13%
219,582
-16,427
-7% -$316K
2015 Q4
8 quarters
PBT icon
70
Permian Basin Royalty Trust
PBT
$1.66B
$4.38M 0.13%
493,553
+11
+0% +$101
2016 Q2
6 quarters
CEM
71
DELISTED
ClearBridge MLP and Midstream Fund Inc.
CEM
$4.35M 0.13%
56,978
-6,514
-10% -$448K
2016 Q2
6 quarters
PARR icon
72
Par Pacific Holdings
PARR
$4.16B
$4.1M 0.12%
212,870
-15,358
-7% -$311K
2014 Q3
13 quarters
V icon
73
Visa
V
$731B
$4.1M 0.12%
35,988
-3,030
-8% -$335K
2013 Q2
18 quarters
VOO icon
74
Vanguard S&P 500 ETF
VOO
$1.05T
$4.04M 0.12%
16,478
-203
-1% -$48.5K
2014 Q4
12 quarters
CACI icon
75
CACI
CACI
$13.6B
$3.87M 0.11%
29,200
– –
2013 Q2
18 quarters
1 2
3
4 5

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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.