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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

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
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
BNY
126
Bank of New York Mellon
BNY
$110B
$1.87M 0.05%
34,782
-240
-0.7% -$12.8K
VCSH icon
127
Vanguard Short-Term Corporate Bond ETF
VCSH
$45.1B
$1.85M 0.05%
23,310
-427
-2% -$34K
UNP icon
128
Union Pacific
UNP
$183B
$1.84M 0.05%
13,708
+28
+0.2% +$3.38K
TNH
129
DELISTED
Terra Nitrogen
TNH
$1.83M 0.05%
22,901
-685
-3% -$55.6K
CAT icon
130
Caterpillar
CAT
$376B
$1.76M 0.05%
11,200
-93
-0.8% -$12.9K
MSFT icon
131
Microsoft
MSFT
$3.75T
$1.73M 0.05%
20,254
+20
+0.1% +$1.64K
HON icon
132
Honeywell
HON
$69.9B
$1.73M 0.05%
12,461
-355
-3% -$47.6K
VZ icon
133
Verizon
VZ
$205B
$1.71M 0.05%
32,376
-1,528
-5% -$75.1K
CVX icon
134
Chevron
CVX
$392B
$1.71M 0.05%
13,641
-272
-2% -$32.3K
CABO icon
135
Cable One
CABO
$128M
$1.69M 0.05%
2,406
-123
-5% -$86.6K
VSAT icon
136
Viasat
VSAT
$10B
$1.66M 0.05%
22,160
-497
-2% -$34.4K
BP icon
137
BP
BP
$109B
$1.62M 0.05%
42,140
-467
-1% -$16.9K
DO
138
DELISTED
Diamond Offshore Drilling
DO
$1.6M 0.05%
+86,203
New +$1.4M
APYX icon
139
Apyx Medical
APYX
$126M
$1.6M 0.05%
615,000
– –
NAD icon
140
Nuveen Quality Municipal Income Fund
NAD
$2.75B
$1.58M 0.05%
112,236
– –
FNF icon
141
Fidelity National Financial
FNF
$12.7B
$1.56M 0.05%
41,468
-15,965
-28% -$582K
SEE
142
DELISTED
Sealed Air
SEE
$1.54M 0.05%
31,150
-880
-3% -$40.4K
OII icon
143
Oceaneering
OII
$5.1B
$1.51M 0.04%
+71,460
New +$1.52M
BIIB icon
144
Biogen
BIIB
$32.7B
$1.48M 0.04%
4,645
– –
KLAC icon
145
KLA
KLAC
$240B
$1.47M 0.04%
140,000
-1,500
-1% -$15.8K
BAC icon
146
Bank of America
BAC
$428B
$1.46M 0.04%
49,400
+4,417
+10% +$122K
MOV icon
147
Movado Group
MOV
$770M
$1.4M 0.04%
43,411
-1,598
-4% -$46.3K
MDLZ icon
148
Mondelez International
MDLZ
$79.7B
$1.39M 0.04%
32,374
-2,603
-7% -$109K
ROK icon
149
Rockwell Automation
ROK
$48.1B
$1.38M 0.04%
7,033
-430
-6% -$82K
CNP icon
150
CenterPoint Energy
CNP
$25.9B
$1.38M 0.04%
48,573
– –
4 5
6
7 8

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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.