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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
+15.7%
1 Year Est. Return
+5.37%
3 Year Est. Return
+65.64%
5 Year Est. Return
+75.06%
10 Year Est. Return
–
AUM
$3.9B
AUM Growth
+$471M
Cap. Flow
-$66.4M
Cap. Flow %
-1.7%
Top 10 Hldgs %
63.25%
Holding
529
New
21
Increased
128
Reduced
256
Closed
19

Top Buys

Rank Stock Value
1
CVEO icon
Civeo
CVEO
+$13.8M
2
TUSK icon
Mammoth Energy Services
TUSK
+$13M
3
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$12M
4
CACI icon
CACI
CACI
+$7.97M
5
TPL icon
Texas Pacific Land
TPL
+$4.54M

Top Sells

Rank Stock Value
1
LGF.B
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
+$17.7M
2
HHH icon
Howard Hughes
HHH
+$16.2M
3
WEN icon
Wendy's
WEN
+$13.6M
4
ECHO
EchoStar
ECHO
+$8.32M
5
IEP icon
Icahn Enterprises
IEP
+$6.89M

Sector Composition

Rank Sector Weight
1 Energy 38.85%
2 Communication Services 9.31%
3 Financials 9.15%
4 Consumer Discretionary 8.1%
5 Real Estate 7.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TPL icon
1
Texas Pacific Land
TPL
$26.9B
$1.27B 32.62%
16,455,636
+64,710
+0.4% +$4.54M
HHH icon
2
Howard Hughes
HHH
$3.94B
$277M 7.12%
2,196,538
-127,444
-5% -$16.2M
CVEO icon
3
Civeo
CVEO
$356M
$170M 4.36%
3,244,541
+304,112
+10% +$13.8M
IEP icon
4
Icahn Enterprises
IEP
$5.1B
$161M 4.13%
2,267,642
-102,256
-4% -$6.89M
VGSH icon
5
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$149M 3.82%
2,486,661
+201,095
+9% +$12M
LSXMK
6
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$135M 3.46%
3,902,346
-42,267
-1% -$1.41M
WEN icon
7
Wendy's
WEN
$1.46B
$83.7M 2.15%
4,871,498
-800,582
-14% -$13.6M
VXX
8
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$79.4M 2.04%
+778,000
New +$30.1M
CBOE icon
9
Cboe Global Markets
CBOE
$32.2B
$70M 1.8%
672,784
-6,390
-0.9% -$675K
BN icon
10
Brookfield
BN
$102B
$68.4M 1.75%
4,728,249
-100,184
-2% -$1.43M
WPM icon
11
Wheaton Precious Metals
WPM
$49.7B
$67.1M 1.72%
3,042,782
-68,651
-2% -$1.48M
LBRDK icon
12
Liberty Broadband Class C
LBRDK
$4.89B
$60.4M 1.55%
797,920
-24,890
-3% -$1.89M
LSXMA
13
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$58.8M 1.51%
1,806,387
-35,534
-2% -$1.13M
AC
14
DELISTED
Associated Capital Group
AC
$54.1M 1.39%
1,431,953
+113,376
+9% +$4.26M
LYV icon
15
Live Nation Entertainment
LYV
$42.9B
$52.6M 1.35%
1,083,423
-54,005
-5% -$2.31M
FNV icon
16
Franco-Nevada
FNV
$41.3B
$50.5M 1.3%
691,414
-6,408
-0.9% -$454K
LGF.B
17
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
$45.3M 1.16%
1,930,115
-761,330
-28% -$17.7M
CME icon
18
CME Group
CME
$95.4B
$37.3M 0.96%
227,517
+4,595
+2% +$751K
AMCX icon
19
AMC Global Media
AMCX
$450M
$32.4M 0.83%
520,603
-22,413
-4% -$1.28M
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.1T
$27.5M 0.71%
147,295
-1,475
-1% -$288K
RGLD icon
21
Royal Gold
RGLD
$16.6B
$26.7M 0.69%
287,558
-12,191
-4% -$1.09M
RMT
22
Royce Micro-Cap Trust
RMT
$718M
$25.3M 0.65%
2,530,383
-62,720
-2% -$620K
DISH
23
DELISTED
DISH Network Corp.
DISH
$24.7M 0.63%
735,993
-65,941
-8% -$2.25M
MKL icon
24
Markel Group
MKL
$25.2B
$22.6M 0.58%
20,807
-61
-0.3% -$68.9K
MSGS icon
25
Madison Square Garden
MSGS
$9.59B
$21.9M 0.56%
99,117
+1,211
+1% +$224K
1
2 3 4 5

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Horizon Kinetics's Q2 2018 Portfolio in Review

As of Q2 2018, Horizon Kinetics held 529 positions worth $3.9B, up 14% from $3.43B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Horizon Kinetics's Q2 2018 filing shows 21 new, 128 increased, 256 reduced and 19 closed positions. Its largest new stake was Mammoth Energy Services: 369,697 shares worth $12.6M. The largest sale was Lions Gate Entertainment Corp. Class B Non-Voting Shares, an estimated $17.7M.

By sector, the portfolio is most concentrated in Energy at 39% of assets, up from 33% a quarter earlier, followed by Communication Services and Financials.

  • Horizon Kinetics's largest Q2 2018 buy was Mammoth Energy Services: 369,697 shares worth $12.6M.
  • Horizon Kinetics added most to Civeo in Q2 2018, an estimated $13.8M increase.
  • Horizon Kinetics's biggest Q2 2018 reduction was Lions Gate Entertainment Corp. Class B Non-Voting Shares, cutting an estimated $17.7M.
  • Horizon Kinetics fully exited Time Warner Inc in Q2 2018, selling an estimated $2.12M.
  • Horizon Kinetics's ten largest holdings make up 63% of its $3.9B portfolio in Q2 2018.
  • Horizon Kinetics opened 21 new positions and closed 19 in Q2 2018.
  • Horizon Kinetics's portfolio value rose 14% quarter-over-quarter to $3.9B.

Based on Horizon Kinetics's 13F filing for Q2 2018, filed 14 Aug 2018.