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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
+11.35%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.4B
AUM Growth
+$349M
Cap. Flow
+$6.81M
Cap. Flow %
0.2%
Top 10 Hldgs %
56.24%
Holding
518
New
12
Increased
104
Reduced
296
Closed
26

Top Buys

Rank Stock Value
1
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$185M
2
TPL icon
Texas Pacific Land
TPL
+$15.9M
3
CVEO icon
Civeo
CVEO
+$10.8M
4
DSL
DoubleLine Income Solutions Fund
DSL
+$4.5M
5
KED
Kayne Anderson Energy
KED
+$2.2M

Top Sells

Rank Stock Value
1
NWL icon
Newell Brands
NWL
+$6.24M
2
WPM icon
Wheaton Precious Metals
WPM
+$6.23M
3
HHH icon
Howard Hughes
HHH
+$5.61M
4
IEP icon
Icahn Enterprises
IEP
+$5.13M
5
ENOV icon
Enovis
ENOV
+$4.2M

Sector Composition

Rank Sector Weight
1 Energy 27.51%
2 Communication Services 16.04%
3 Real Estate 9.62%
4 Financials 9.37%
5 Consumer Discretionary 7.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TPL icon
1
Texas Pacific Land
TPL
$26.9B
$720M 21.15%
16,037,424
+398,349
+3% +$15.9M
HHH icon
2
Howard Hughes
HHH
$3.94B
$298M 8.77%
2,654,391
-49,137
-2% -$5.61M
VGSH icon
3
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$184M 5.41%
+3,035,060
New +$185M
IEP icon
4
Icahn Enterprises
IEP
$5.1B
$143M 4.19%
2,602,920
-97,612
-4% -$5.13M
LSXMK
5
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$135M 3.97%
4,239,403
-42,687
-1% -$1.39M
WEN icon
6
Wendy's
WEN
$1.46B
$110M 3.24%
7,093,842
-271,629
-4% -$4.16M
LGF.B
7
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
$89.9M 2.64%
2,828,470
+6,626
+0.2% +$185K
LBRDK icon
8
Liberty Broadband Class C
LBRDK
$4.89B
$86.9M 2.55%
912,133
-26,490
-3% -$2.55M
BN icon
9
Brookfield
BN
$102B
$79.8M 2.34%
5,414,426
-146,846
-3% -$2.06M
CVEO icon
10
Civeo
CVEO
$356M
$67.1M 1.97%
1,962,255
+421,800
+27% +$10.8M
WPM icon
11
Wheaton Precious Metals
WPM
$49.7B
$62.9M 1.85%
3,295,523
-316,645
-9% -$6.23M
LSXMA
12
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$61.4M 1.8%
2,028,662
-56,806
-3% -$1.76M
LYV icon
13
Live Nation Entertainment
LYV
$42.9B
$61.2M 1.8%
1,405,698
-20,929
-1% -$812K
DISH
14
DELISTED
DISH Network Corp.
DISH
$58.8M 1.73%
1,084,578
-37,732
-3% -$2.23M
FNV icon
15
Franco-Nevada
FNV
$41.3B
$53.7M 1.58%
692,619
+13,928
+2% +$1.07M
CBOE icon
16
Cboe Global Markets
CBOE
$32.2B
$51.5M 1.51%
478,924
-25,207
-5% -$2.48M
AC
17
DELISTED
Associated Capital Group
AC
$47.2M 1.39%
1,328,482
+39,362
+3% +$1.33M
AMCX icon
18
AMC Global Media
AMCX
$450M
$43.9M 1.29%
751,035
-20,697
-3% -$1.23M
ECHO
19
EchoStar
ECHO
$24.3B
$43M 1.26%
926,686
-30,972
-3% -$1.48M
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.1T
$28.8M 0.85%
156,930
-5,199
-3% -$919K
RGLD icon
21
Royal Gold
RGLD
$16.6B
$28.7M 0.84%
333,741
-18,855
-5% -$1.63M
RMT
22
Royce Micro-Cap Trust
RMT
$718M
$26.4M 0.77%
2,809,360
-155,988
-5% -$1.35M
LBRDA icon
23
Liberty Broadband Class A
LBRDA
$4.89B
$22.9M 0.67%
242,671
-4,273
-2% -$408K
FWONK icon
24
Liberty Media Series C
FWONK
$25.5B
$22.6M 0.67%
615,044
-9,236
-1% -$323K
MKL icon
25
Markel Group
MKL
$25.2B
$22.4M 0.66%
20,966
-257
-1% -$266K
1
2 3 4 5

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Horizon Kinetics's Q3 2017 Portfolio in Review

As of Q3 2017, Horizon Kinetics held 518 positions worth $3.4B, up 11% from $3.06B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Horizon Kinetics's Q3 2017 filing shows 12 new, 104 increased, 296 reduced and 26 closed positions. Its largest new stake was Vanguard Short-Term Treasury ETF: 3,035,060 shares worth $184M. The largest sale was Newell Brands, an estimated $6.24M.

By sector, the portfolio is most concentrated in Energy at 28% of assets, up from 24% a quarter earlier, followed by Communication Services and Real Estate.

  • Horizon Kinetics's largest Q3 2017 buy was Vanguard Short-Term Treasury ETF: 3,035,060 shares worth $184M.
  • Horizon Kinetics added most to Texas Pacific Land in Q3 2017, an estimated $15.9M increase.
  • Horizon Kinetics's biggest Q3 2017 reduction was Newell Brands, cutting an estimated $6.24M.
  • Horizon Kinetics fully exited Albany Molecular Research Inc in Q3 2017, selling an estimated $1.22M.
  • Horizon Kinetics's ten largest holdings make up 56% of its $3.4B portfolio in Q3 2017.
  • Horizon Kinetics opened 12 new positions and closed 26 in Q3 2017.
  • Horizon Kinetics's portfolio value rose 11% quarter-over-quarter to $3.4B.

Based on Horizon Kinetics's 13F filing for Q3 2017, filed 14 Nov 2017.