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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
+4.28%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.17B
AUM Growth
+$69.2M
Cap. Flow
-$114M
Cap. Flow %
-3.59%
Top 10 Hldgs %
51.5%
Holding
524
New
19
Increased
116
Reduced
281
Closed
23

Top Buys

Rank Stock Value
1
CVEO icon
Civeo
CVEO
+$24.2M
2
AMCX icon
AMC Global Media
AMCX
+$11.3M
3
TPL icon
Texas Pacific Land
TPL
+$8.85M
4
FNV icon
Franco-Nevada
FNV
+$5.29M
5
BSM icon
Black Stone Minerals
BSM
+$3.15M

Top Sells

Rank Stock Value
1
WEN icon
Wendy's
WEN
+$17.2M
2
HHH icon
Howard Hughes
HHH
+$10M
3
CBOE icon
Cboe Global Markets
CBOE
+$8.56M
4
TPH
Tri Pointe Homes
TPH
+$7.01M
5
NWL icon
Newell Brands
NWL
+$6.5M

Sector Composition

Rank Sector Weight
1 Communication Services 24.58%
2 Energy 22.3%
3 Real Estate 11.47%
4 Financials 10.75%
5 Consumer Discretionary 10.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PKO
76
DELISTED
Pimco Income Opportunity Fund
PKO
$4.3M 0.14%
173,061
-8,280
-5% -$201K
PAG icon
77
Penske Automotive Group
PAG
$14.3B
$4.22M 0.13%
90,097
+131
+0.1% +$6.7K
PFL
78
PIMCO Income Strategy Fund
PFL
$378M
$4.12M 0.13%
369,301
-35,477
-9% -$387K
VOO icon
79
Vanguard S&P 500 ETF
VOO
$1.03T
$3.8M 0.12%
17,576
-480
-3% -$102K
LEXEA
80
DELISTED
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
$3.78M 0.12%
83,223
-13,949
-14% -$613K
PBT
81
Permian Basin Royalty Trust
PBT
$1.57B
$3.54M 0.11%
378,870
+1,498
+0.4% +$13.3K
PM icon
82
Philip Morris
PM
$297B
$3.46M 0.11%
30,656
-450
-1% -$46.4K
CACI icon
83
CACI
CACI
$14B
$3.42M 0.11%
29,200
– –
DISCK
84
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$3.39M 0.11%
119,853
-1,601
-1% -$43.9K
SSP icon
85
E.W. Scripps
SSP
$296M
$3.13M 0.1%
133,598
-6,124
-4% -$129K
ICE icon
86
Intercontinental Exchange
ICE
$90.5B
$3.12M 0.1%
52,150
– –
JNJ icon
87
Johnson & Johnson
JNJ
$640B
$3.03M 0.1%
24,319
-2,586
-10% -$309K
GLRE icon
88
Greenlight Captial
GLRE
$503M
$3.03M 0.1%
137,021
+1,143
+0.8% +$25.9K
LBTYK icon
89
Liberty Global Class C
LBTYK
$3.51B
$2.97M 0.09%
84,777
-3,370
-4% -$116K
BATRA icon
90
Atlanta Braves Holdings Series A
BATRA
$3.58B
$2.95M 0.09%
123,217
-21,922
-15% -$469K
MRK icon
91
Merck
MRK
$369B
$2.94M 0.09%
48,548
-1,630
-3% -$98.9K
DHR icon
92
Danaher
DHR
$152B
$2.92M 0.09%
38,504
-1,638
-4% -$122K
BSM icon
93
Black Stone Minerals
BSM
$3.18B
$2.92M 0.09%
+176,546
New +$3.15M
GDL
94
GDL Fund
GDL
$91.6M
$2.88M 0.09%
293,056
+207,694
+243% +$2.06M
VSAT icon
95
Viasat
VSAT
$10B
$2.84M 0.09%
44,555
-878
-2% -$57.6K
IGSB icon
96
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.4B
$2.84M 0.09%
54,000
– –
ARII
97
DELISTED
American Railcar Industries, Inc.
ARII
$2.81M 0.09%
68,249
-8,030
-11% -$354K
SAND
98
DELISTED
Sandstorm Gold
SAND
$2.8M 0.09%
656,711
-10,436
-2% -$45.9K
DORM icon
99
Dorman Products
DORM
$3.8B
$2.69M 0.09%
32,789
– –
BMY icon
100
Bristol-Myers Squibb
BMY
$137B
$2.64M 0.08%
48,607
-3,985
-8% -$219K
2 3
4
5 6

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Horizon Kinetics's Q1 2017 Portfolio in Review

As of Q1 2017, Horizon Kinetics held 524 positions worth $3.17B, up 2.2% from $3.1B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Horizon Kinetics withdrew a net $114M in Q1 2017, closing 23 positions and reducing 281 holdings. Its most notable exit was Vanguard Extended Market ETF, an estimated $2.81M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 25% of assets, up from 23% a quarter earlier, followed by Energy and Real Estate.

Against the trend, Horizon Kinetics opened a new position in Civeo worth $24.4M.

  • Horizon Kinetics's largest Q1 2017 buy was Civeo: 679,147 shares worth $24.4M.
  • Horizon Kinetics added most to AMC Global Media in Q1 2017, an estimated $11.3M increase.
  • Horizon Kinetics's biggest Q1 2017 reduction was Wendy's, cutting an estimated $17.2M.
  • Horizon Kinetics fully exited Vanguard Extended Market ETF in Q1 2017, selling an estimated $2.81M.
  • Horizon Kinetics's ten largest holdings make up 52% of its $3.17B portfolio in Q1 2017.
  • Horizon Kinetics opened 19 new positions and closed 23 in Q1 2017.
  • Horizon Kinetics's portfolio value rose 2.2% quarter-over-quarter to $3.17B.

Based on Horizon Kinetics's 13F filing for Q1 2017, filed 15 May 2017.