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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
TPL icon
1
Texas Pacific Land
TPL
$26.9B
$920M 26.86%
16,390,926
+170,649
+1% +$9.76M
HHH icon
2
Howard Hughes
HHH
$3.94B
$308M 9%
2,323,982
-249,259
-10% -$30.6M
VGSH icon
3
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$137M 4%
2,285,566
-213,810
-9% -$12.8M
IEP icon
4
Icahn Enterprises
IEP
$5.1B
$135M 3.95%
2,369,898
-117,103
-5% -$6.69M
CVEO icon
5
Civeo
CVEO
$356M
$133M 3.88%
2,940,429
+888,483
+43% +$37.4M
LSXMK
6
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$123M 3.58%
3,944,613
-130,828
-3% -$4.16M
WEN icon
7
Wendy's
WEN
$1.46B
$99.5M 2.91%
5,672,080
-676,838
-11% -$11.2M
CBOE icon
8
Cboe Global Markets
CBOE
$32.2B
$77.5M 2.26%
679,174
+45,123
+7% +$5.48M
LBRDK icon
9
Liberty Broadband Class C
LBRDK
$4.89B
$70.5M 2.06%
822,810
-18,987
-2% -$1.71M
BN icon
10
Brookfield
BN
$102B
$67.2M 1.96%
4,828,433
-413,863
-8% -$5.99M
LGF.B
11
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
$64.8M 1.89%
2,691,445
-92,352
-3% -$2.65M
WPM icon
12
Wheaton Precious Metals
WPM
$49.7B
$63.4M 1.85%
3,111,433
-49,846
-2% -$1.02M
LSXMA
13
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$54.7M 1.6%
1,841,921
-86,744
-4% -$2.63M
AC
14
DELISTED
Associated Capital Group
AC
$49.1M 1.43%
1,318,577
-14,094
-1% -$498K
LYV icon
15
Live Nation Entertainment
LYV
$42.9B
$47.9M 1.4%
1,137,428
-250,398
-18% -$11.1M
FNV icon
16
Franco-Nevada
FNV
$41.3B
$47.7M 1.39%
697,822
+8,031
+1% +$588K
CME icon
17
CME Group
CME
$95.4B
$36.1M 1.05%
222,922
+8,924
+4% +$1.42M
ECHO
18
EchoStar
ECHO
$24.3B
$34M 0.99%
795,556
-63,721
-7% -$3.03M
DISH
19
DELISTED
DISH Network Corp.
DISH
$30.4M 0.89%
801,934
-187,825
-19% -$8.26M
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.1T
$29.7M 0.87%
148,770
-5,273
-3% -$1.08M
AMCX icon
21
AMC Global Media
AMCX
$450M
$28.1M 0.82%
543,016
-100,126
-16% -$5.2M
RGLD icon
22
Royal Gold
RGLD
$16.6B
$25.7M 0.75%
299,749
-15,600
-5% -$1.32M
MKL icon
23
Markel Group
MKL
$25.2B
$24.4M 0.71%
20,868
-54
-0.3% -$60.8K
RMT
24
Royce Micro-Cap Trust
RMT
$718M
$24.3M 0.71%
2,593,103
-105,618
-4% -$1M
NVGS icon
25
Navigator Holdings
NVGS
$1.35B
$20.3M 0.59%
1,725,769
+492,744
+40% +$5.67M
1
2 3 4 5

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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.