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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
-20.73%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.06B
AUM Growth
-$1.05B
Cap. Flow
-$179M
Cap. Flow %
-5.84%
Top 10 Hldgs %
59.41%
Holding
517
New
14
Increased
126
Reduced
256
Closed
44
Avg Time Held Equity + Options
15.8 quarters
Top 10 Avg Time Held Equity + Options
8.7 quarters
Top 20 Avg Time Held Equity + Options
11.1 quarters
Avg Time Held Equity only
15.9 quarters
Top 10 Avg Time Held Equity only
11 quarters
Top 20 Avg Time Held Equity only
11.2 quarters

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$15.1M
2
CACI icon
CACI
CACI
+$13.4M
3
GE icon
GE Aerospace
GE
+$13.4M
4
VXF icon
Vanguard Extended Market ETF
VXF
+$5.8M
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$5M

Top Sells

Rank Stock Value
1
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$26.6M
2
HHH icon
Howard Hughes
HHH
+$18.5M
3
TPL icon
Texas Pacific Land
TPL
+$14M
4
LBRDK icon
Liberty Broadband Class C
LBRDK
+$12.3M
5
LSXMK icon
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$12.2M

Sector Composition

Rank Sector Weight
1 Energy 38.17%
2 Miscellaneous 14.25%
3 Communication Services 13.24%
4 Financials 11.44%
5 Real Estate 6.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
PARA icon
76
DELISTED
Paramount Global Class B
PARA
$3.33M 0.11%
76,178
-7,786
-9% -$414K
2013 Q2
22 quarters
JNJ icon
77
Johnson & Johnson
JNJ
$599B
$3.23M 0.11%
25,004
+1,203
+5% +$168K
2013 Q2
22 quarters
NBB icon
78
Nuveen Taxable Municipal Income Fund
NBB
$415M
$3.17M 0.1%
163,678
+44,582
+37% +$856K
2017 Q1
7 quarters
JMF
79
DELISTED
NUVEEN ENERGY MLP TOTAL RETURN FUND
JMF
$3.13M 0.1%
385,003
-121,645
-24% -$1.16M
2016 Q1
11 quarters
PRFZ icon
80
Invesco FTSE RAFI US 1500 Small-Mid ETF
PRFZ
$2.66B
$3.1M 0.1%
+136,500
New +$3.47M
2018 Q4
0 quarters
CLR
81
DELISTED
CONTINENTAL RESOURCES INC.
CLR
$3.06M 0.1%
76,057
-4,535
-6% -$232K
2013 Q2
22 quarters
PFE icon
82
Pfizer
PFE
$162B
$2.91M 0.09%
70,206
+681
+1% +$28.3K
2013 Q2
22 quarters
PKO
83
DELISTED
Pimco Income Opportunity Fund
PKO
$2.89M 0.09%
113,766
-1,247
-1% -$31.7K
2013 Q2
22 quarters
BIP icon
84
Brookfield Infrastructure Partners
BIP
$16.7B
$2.84M 0.09%
137,978
-26,667
-16% -$608K
2013 Q2
22 quarters
IGSB icon
85
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.3B
$2.79M 0.09%
54,000
– –
2013 Q2
22 quarters
PBT icon
86
Permian Basin Royalty Trust
PBT
$1.65B
$2.77M 0.09%
469,435
-17,690
-4% -$125K
2016 Q2
10 quarters
ABBV icon
87
AbbVie
ABBV
$485B
$2.73M 0.09%
29,609
+266
+0.9% +$23.4K
2013 Q2
22 quarters
ENOV icon
88
Enovis
ENOV
$1.1B
$2.7M 0.09%
74,976
-27,912
-27% -$1.3M
2013 Q2
22 quarters
GBL
89
DELISTED
GAMCO Investors, Inc.
GBL
$2.67M 0.09%
157,980
+75,559
+92% +$1.55M
2014 Q4
16 quarters
CEM
90
DELISTED
ClearBridge MLP and Midstream Fund Inc.
CEM
$2.67M 0.09%
51,264
-2,305
-4% -$144K
2016 Q2
10 quarters
L icon
91
Loews
L
$22.2B
$2.61M 0.09%
57,334
-8,517
-13% -$401K
2013 Q2
22 quarters
PFL icon
92
PIMCO Income Strategy Fund
PFL
$339M
$2.58M 0.08%
237,540
-4,658
-2% -$51.3K
2013 Q2
22 quarters
CXE
93
DELISTED
MFS High Income Municipal Trust
CXE
$2.56M 0.08%
553,199
– –
2013 Q2
22 quarters
DISCK
94
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$2.52M 0.08%
109,095
-4,237
-4% -$118K
2014 Q3
17 quarters
NVDA icon
95
PUT
NVIDIA
NVDA
$5.52T
$2.5M 0.08%
1,820,000
-2,876,000
-61% -$13.8M
2018 Q2
2 quarters
BA icon
96
Boeing
BA
$147B
$2.49M 0.08%
7,724
+37
+0.5% +$12.8K
2013 Q2
22 quarters
BMY icon
97
Bristol-Myers Squibb
BMY
$116B
$2.35M 0.08%
45,199
+234
+0.5% +$12.6K
2013 Q2
22 quarters
LLY icon
98
Eli Lilly
LLY
$1.04T
$2.23M 0.07%
19,254
-2,000
-9% -$223K
2013 Q2
22 quarters
NVS icon
99
Novartis
NVS
$271B
$2.22M 0.07%
28,885
-229
-0.8% -$17.8K
2013 Q2
22 quarters
DORM icon
100
Dorman Products
DORM
$3.66B
$2.15M 0.07%
23,906
-10,000
-29% -$799K
2013 Q2
22 quarters
2 3
4
5 6

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AC
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OA
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TGA
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PWM
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APFBOT
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Horizon Kinetics's Q4 2018 Portfolio in Review

As of Q4 2018, Horizon Kinetics held 517 positions worth $3.06B, down 25% from $4.11B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Horizon Kinetics withdrew a net $179M in Q4 2018, closing 44 positions and reducing 256 holdings. Its most notable exit was Copart, an estimated $3.71M position sold in full.

By sector, the portfolio is most concentrated in Energy at 38% of assets, down from 44% a quarter earlier, followed by Miscellaneous and Communication Services.

Against the trend, Horizon Kinetics opened a new position in Vanguard Extended Market ETF worth $5.28M.

  • Horizon Kinetics's largest Q4 2018 buy was Vanguard Extended Market ETF: 52,921 shares worth $5.28M.
  • Horizon Kinetics added most to Cheniere Energy in Q4 2018, an estimated $15.1M increase.
  • Horizon Kinetics's biggest Q4 2018 reduction was Vanguard Short-Term Treasury ETF, cutting an estimated $26.6M.
  • Horizon Kinetics fully exited Copart in Q4 2018, selling an estimated $3.71M.
  • Horizon Kinetics's ten largest holdings make up 59% of its $3.06B portfolio in Q4 2018.
  • Horizon Kinetics opened 14 new positions and closed 44 in Q4 2018.
  • Horizon Kinetics's portfolio value fell 25% quarter-over-quarter to $3.06B.

Based on Horizon Kinetics's 13F filing for Q4 2018, filed 14 Feb 2019.