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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
+4.7%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.43B
AUM Growth
+$15.8M
Cap. Flow
-$151M
Cap. Flow %
-4.41%
Top 10 Hldgs %
60.46%
Holding
525
New
31
Increased
151
Reduced
258
Closed
17

Top Buys

Rank Stock Value
1
CVEO icon
Civeo
CVEO
+$37.4M
2
TPL icon
Texas Pacific Land
TPL
+$9.76M
3
GLIBA
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
+$9.68M
4
NVGS icon
Navigator Holdings
NVGS
+$5.67M
5
CBOE icon
Cboe Global Markets
CBOE
+$5.48M

Top Sells

Rank Stock Value
1
HHH icon
Howard Hughes
HHH
+$30.6M
2
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$12.8M
3
WYNN icon
Wynn Resorts
WYNN
+$11.3M
4
WEN icon
Wendy's
WEN
+$11.2M
5
LYV icon
Live Nation Entertainment
LYV
+$11.1M

Sector Composition

Rank Sector Weight
1 Energy 33.06%
2 Communication Services 11.59%
3 Financials 10.67%
4 Real Estate 9.59%
5 Consumer Discretionary 8.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MGM icon
101
MGM Resorts International
MGM
$11.7B
$2.3M 0.07%
65,750
-1,200
-2% -$42.2K
DORM icon
102
Dorman Products
DORM
$4.22B
$2.25M 0.07%
33,906
-1,000
-3% -$71.2K
SU icon
103
Suncor Energy
SU
$77.7B
$2.23M 0.07%
64,570
-256
-0.4% -$8.92K
CSCO icon
104
Cisco
CSCO
$443B
$2.23M 0.06%
51,875
-1,225
-2% -$52K
VNOM icon
105
Viper Energy
VNOM
$8.43B
$2.18M 0.06%
85,852
+60,133
+234% +$1.42M
GLRE icon
106
Greenlight Captial
GLRE
$579M
$2.17M 0.06%
135,037
+5,517
+4% +$100K
MTB icon
107
M&T Bank
MTB
$36.3B
$2.14M 0.06%
11,624
-51
-0.4% -$9.51K
GBL
108
DELISTED
GAMCO Investors, Inc.
GBL
$2.13M 0.06%
85,971
-5,606
-6% -$155K
NVS icon
109
Novartis
NVS
$302B
$2.13M 0.06%
29,424
-139
-0.5% -$10.6K
TWX
110
DELISTED
Time Warner Inc
TWX
$2.12M 0.06%
22,369
-2,212
-9% -$208K
PEP icon
111
PepsiCo
PEP
$196B
$2.11M 0.06%
19,367
-55
-0.3% -$6.25K
BATRA icon
112
Atlanta Braves Holdings Series A
BATRA
$3.51B
$2.09M 0.06%
91,980
-965
-1% -$22.3K
CCL icon
113
Carnival Corporation Ltd
CCL
$38.1B
$2.08M 0.06%
31,748
-1,128
-3% -$76.7K
FCX icon
114
Freeport-McMoran
FCX
$86.2B
$2.06M 0.06%
117,291
-6,089
-5% -$114K
MO icon
115
Altria Group
MO
$125B
$2.02M 0.06%
32,325
-717
-2% -$47.5K
DHR icon
116
Danaher
DHR
$138B
$2M 0.06%
23,060
-1,178
-5% -$103K
NBB icon
117
Nuveen Taxable Municipal Income Fund
NBB
$447M
$1.97M 0.06%
94,856
+4,477
+5% +$93.7K
TNH
118
DELISTED
Terra Nitrogen
TNH
$1.94M 0.06%
23,092
+191
+0.8% +$16K
VZ icon
119
Verizon
VZ
$197B
$1.93M 0.06%
40,349
+7,973
+25% +$401K
ARII
120
DELISTED
American Railcar Industries, Inc.
ARII
$1.91M 0.06%
51,146
+1,006
+2% +$39K
KHC icon
121
Kraft Heinz
KHC
$32.8B
$1.91M 0.06%
30,637
-13,811
-31% -$989K
RCL icon
122
Royal Caribbean
RCL
$86.8B
$1.89M 0.06%
16,061
-214
-1% -$27K
LLY icon
123
Eli Lilly
LLY
$1.08T
$1.86M 0.05%
24,082
-1,000
-4% -$80.5K
SBR
124
Sabine Royalty Trust
SBR
$1.06B
$1.86M 0.05%
42,395
-235
-0.6% -$10.5K
UNP icon
125
Union Pacific
UNP
$174B
$1.84M 0.05%
13,680
-28
-0.2% -$3.77K
3 4
5
6 7

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Horizon Kinetics's Q1 2018 Portfolio in Review

As of Q1 2018, Horizon Kinetics held 525 positions worth $3.43B, up 0.46% from $3.41B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Horizon Kinetics withdrew a net $151M in Q1 2018, closing 17 positions and reducing 258 holdings. Its most notable exit was Liberty Interactive Corporation Series A Liberty Ventures, an estimated $10M position sold in full.

By sector, the portfolio is most concentrated in Energy at 33% of assets, up from 30% a quarter earlier, followed by Communication Services and Financials.

Against the trend, Horizon Kinetics opened a new position in GCI Liberty, Inc. Class A Common Stock (DE) worth $9.76M.

  • Horizon Kinetics's largest Q1 2018 buy was GCI Liberty, Inc. Class A Common Stock (DE): 184,686 shares worth $9.76M.
  • Horizon Kinetics added most to Civeo in Q1 2018, an estimated $37.4M increase.
  • Horizon Kinetics's biggest Q1 2018 reduction was Howard Hughes, cutting an estimated $30.6M.
  • Horizon Kinetics fully exited Liberty Interactive Corporation Series A Liberty Ventures in Q1 2018, selling an estimated $10M.
  • Horizon Kinetics's ten largest holdings make up 60% of its $3.43B portfolio in Q1 2018.
  • Horizon Kinetics opened 31 new positions and closed 17 in Q1 2018.
  • Horizon Kinetics's portfolio value rose 0.46% quarter-over-quarter to $3.43B.

Based on Horizon Kinetics's 13F filing for Q1 2018, filed 15 May 2018.