# Horizon Kinetics LLC

> Institutional holdings reported to the SEC as of Q4 2018 on Form 13F. CIK 1519418. Source: https://holderbook.com/funds/1519418-horizon-kinetics-llc/

- Reported value: $3.1B
- Positions: 473
- Weight of the ten largest: 59.4%
- Filed: 2019-02-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| TEXAS PAC LD TR | [TPL](https://holderbook.com/stocks/TPL/) | $979.1M | 1,807,780 | 32.0% | 1 |
| HOWARD HUGHES CORP | [HHC](https://holderbook.com/stocks/HHC/) | $184.1M | 1,885,861 | 6.0% | 1 |
| ICAHN ENTERPRISES LP | [IEP](https://holderbook.com/stocks/IEP/) | $116.7M | 2,044,113 | 3.8% | 1 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $115.1M | 1,914,559 | 3.8% | 1 |
| LIBERTY MEDIA CORP DEL | [LSXMKXXXX](https://holderbook.com/stocks/LSXMKXXXX/) | $97.9M | 2,648,489 | 3.2% | 1 |
| BARCLAYS BK PLC | - | $92.1M | 0 | 3.0% | 1 |
| CBOE GLOBAL MKTS INC | [CBOE](https://holderbook.com/stocks/CBOE/) | $62.5M | 638,784 | 2.0% | 1 |
| BROOKFIELD ASSET MGMT INC | [BAMXXXX](https://holderbook.com/stocks/BAMXXXX/) | $59.5M | 1,551,152 | 1.9% | 1 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $58.7M | 3,006,426 | 1.9% | 1 |
| ASSOCIATED CAP GROUP INC | [ACGP](https://holderbook.com/stocks/ACGP/) | $53.6M | 1,522,421 | 1.8% | 1 |
| WENDYS CO | [WEN](https://holderbook.com/stocks/WEN/) | $53.6M | 3,435,188 | 1.8% | 1 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $53.2M | 758,875 | 1.7% | 1 |
| CIVEO CORP CDA | [CVEOXXXX](https://holderbook.com/stocks/CVEOXXXX/) | $52.8M | 36,947,116 | 1.7% | 1 |
| LIVE NATION ENTERTAINMENT IN | [LYV](https://holderbook.com/stocks/LYV/) | $51.7M | 1,048,932 | 1.7% | 1 |
| CHENIERE ENERGY INC | - | $47.1M | 67,692,000 | 1.5% | 1 |
| LIBERTY BROADBAND CORP | [LBRDK](https://holderbook.com/stocks/LBRDK/) | $44.3M | 614,998 | 1.4% | 1 |
| LIBERTY MEDIA CORP DEL | [LSXMAXXXX](https://holderbook.com/stocks/LSXMAXXXX/) | $44.1M | 1,198,349 | 1.4% | 1 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $42.5M | 226,031 | 1.4% | 1 |
| CACI INTL INC | [CACI](https://holderbook.com/stocks/CACI/) | $37.0M | 256,646 | 1.2% | 1 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $27.7M | 135,761 | 0.9% | 1 |
| ROYAL GOLD INC | [RGLD](https://holderbook.com/stocks/RGLD/) | $22.2M | 258,757 | 0.7% | 1 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $20.9M | 20,138 | 0.7% | 1 |
| ROYCE MICRO-CAP TR INC | [RMT](https://holderbook.com/stocks/RMT/) | $20.4M | 2,745,981 | 0.7% | 1 |
| AMC GLOBAL MEDIA INC | [AMCX](https://holderbook.com/stocks/AMCX/) | $20.1M | 366,656 | 0.7% | 1 |
| MADISON SQUARE GRDN SPRT COR | [MSGS](https://holderbook.com/stocks/MSGS/) | $18.2M | 68,113 | 0.6% | 1 |
| LIONS GATE ENTMNT CORP | [LGFB](https://holderbook.com/stocks/LGFB/) | $17.4M | 1,166,487 | 0.6% | 1 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $14.9M | 252,073 | 0.5% | 1 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $14.2M | 75,468 | 0.5% | 1 |
| SCIENCE APPLICATIONS INTL CO | [SAIC](https://holderbook.com/stocks/SAIC/) | $14.2M | 223,157 | 0.5% | 1 |
| OAKTREE CAP GROUP LLC | [OAK](https://holderbook.com/stocks/OAK/) | $14.1M | 354,607 | 0.5% | 1 |
| NAVIGATOR HLDGS LTD | [NVGS](https://holderbook.com/stocks/NVGS/) | $14.0M | 1,488,287 | 0.5% | 1 |
| DOUBLELINE INCOME SOLUTIONS | [DSL](https://holderbook.com/stocks/DSL/) | $13.7M | 790,143 | 0.4% | 1 |
| DISH NETWORK CORPORATION | [DISH](https://holderbook.com/stocks/DISH/) | $13.7M | 547,131 | 0.4% | 1 |
| ECHOSTAR CORP | [ECHO](https://holderbook.com/stocks/ECHO/) | $13.5M | 367,964 | 0.4% | 1 |
| INTER PARFUMS INC | [IPAR](https://holderbook.com/stocks/IPAR/) | $13.5M | 206,061 | 0.4% | 1 |
| EQUITY LIFESTYLE PROPERTIES | [ELS](https://holderbook.com/stocks/ELS/) | $12.6M | 130,037 | 0.4% | 1 |
| LIBERTY MEDIA CORP DEL | [FWONKXXXX](https://holderbook.com/stocks/FWONKXXXX/) | $12.4M | 403,537 | 0.4% | 1 |
| GENERAL ELECTRIC CO | [GEXXXX](https://holderbook.com/stocks/GEXXXX/) | $11.5M | 1,521,677 | 0.4% | 1 |
| ISHARES SILVER TR | [SLV](https://holderbook.com/stocks/SLV/) | $10.4M | 0 | 0.3% | 1 |
| SANDSTORM GOLD LTD | [SAND](https://holderbook.com/stocks/SAND/) | $10.1M | 2,189,507 | 0.3% | 1 |
| LIBERTY BROADBAND CORP | [LBRDA](https://holderbook.com/stocks/LBRDA/) | $8.7M | 120,534 | 0.3% | 1 |
| ROYAL GOLD INC | - | $8.6M | 8,614,000 | 0.3% | 1 |
| DOUBLELINE OPPORTUNISTIC CR | [DBL](https://holderbook.com/stocks/DBL/) | $8.5M | 450,177 | 0.3% | 1 |
| LIBERTY MEDIA CORP DEL | [FWONAXXXX](https://holderbook.com/stocks/FWONAXXXX/) | $8.3M | 279,582 | 0.3% | 1 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $7.6M | 7,256 | 0.2% | 1 |
| PIMCO DYNAMIC INCOME FD | [PDI](https://holderbook.com/stocks/PDI/) | $7.5M | 256,997 | 0.2% | 1 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $7.4M | 7,186 | 0.2% | 1 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $7.3M | 87,363 | 0.2% | 1 |
| NUVEEN AMT FREE QLTY MUN INC | [NEA](https://holderbook.com/stocks/NEA/) | $7.0M | 571,514 | 0.2% | 1 |
| BLACK STONE MINERALS L P | [BSM](https://holderbook.com/stocks/BSM/) | $7.0M | 453,978 | 0.2% | 1 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $6.8M | 100,315 | 0.2% | 1 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $6.5M | 51,159 | 0.2% | 1 |
| LAS VEGAS SANDS CORP | [LVS](https://holderbook.com/stocks/LVS/) | $6.4M | 123,544 | 0.2% | 1 |
| DISCOVERY INC | [DISCA](https://holderbook.com/stocks/DISCA/) | $6.1M | 247,242 | 0.2% | 1 |
| GCI LIBERTY INC | [GLIBA](https://holderbook.com/stocks/GLIBA/) | $5.3M | 129,099 | 0.2% | 1 |
| VANGUARD INDEX FDS | [VXF](https://holderbook.com/stocks/VXF/) | $5.3M | 52,921 | 0.2% | 1 |
| LIBERTY MEDIA CORP DEL | [BATRKXXXX](https://holderbook.com/stocks/BATRKXXXX/) | $5.2M | 207,343 | 0.2% | 1 |
| PATTERSON-UTI ENERGY INC | [PTEN](https://holderbook.com/stocks/PTEN/) | $5.1M | 488,263 | 0.2% | 1 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $5.0M | 19,830 | 0.2% | 1 |
| PIMCO INCOME STRATEGY FD II | [PFN](https://holderbook.com/stocks/PFN/) | $4.9M | 513,559 | 0.2% | 1 |
| QURATE RETAIL INC | [QVCGAXXXX](https://holderbook.com/stocks/QVCGAXXXX/) | $4.8M | 247,625 | 0.2% | 1 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $4.8M | 20,833 | 0.2% | 1 |
| J P MORGAN EXCHANGE TRADED F | [JPST](https://holderbook.com/stocks/JPST/) | $4.7M | 93,288 | 0.2% | 1 |
| TORTOISE MIDSTRM ENERGY FD I | [NTGXXXX](https://holderbook.com/stocks/NTGXXXX/) | $4.5M | 371,418 | 0.1% | 1 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $4.5M | 34,058 | 0.1% | 1 |
| KAYNE ANDERSON ENERGY INFRST | [KYN](https://holderbook.com/stocks/KYN/) | $4.4M | 316,561 | 0.1% | 1 |
| BALCHEM CORP | [BCPC](https://holderbook.com/stocks/BCPC/) | $4.3M | 54,704 | 0.1% | 1 |
| MSG NETWORK INC | [MSGN](https://holderbook.com/stocks/MSGN/) | $4.3M | 181,493 | 0.1% | 1 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $4.3M | 56,540 | 0.1% | 1 |
| ALLEGHANY CORP DEL | [Y](https://holderbook.com/stocks/Y/) | $4.1M | 6,600 | 0.1% | 1 |
| BOVIE MEDICAL CORP | - | $4.0M | 615,000 | 0.1% | 1 |
| MESABI TR | [MSB](https://holderbook.com/stocks/MSB/) | $3.9M | 166,508 | 0.1% | 1 |
| PLATFORM SPECIALTY PRODS COR | [PAH](https://holderbook.com/stocks/PAH/) | $3.8M | 369,980 | 0.1% | 1 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $3.7M | 166,734 | 0.1% | 1 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $3.7M | 12 | 0.1% | 1 |
| VIPER ENERGY PARTNERS LP | [VNOMXXXX](https://holderbook.com/stocks/VNOMXXXX/) | $3.7M | 140,402 | 0.1% | 1 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $3.6M | 46,660 | 0.1% | 1 |
| CLEARBRIDGE MLP AND MIDSTRM | [CTR](https://holderbook.com/stocks/CTR/) | $3.4M | 433,932 | 0.1% | 1 |
| CBS CORP NEW | [CBS](https://holderbook.com/stocks/CBS/) | $3.3M | 76,178 | 0.1% | 1 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $3.2M | 25,004 | 0.1% | 1 |
| NUVEEN TAXABLE MUNICPAL INM | [NBB](https://holderbook.com/stocks/NBB/) | $3.2M | 163,678 | 0.1% | 1 |
| NUVEEN ENERGY MLP TOTL RTRNF | [JMF](https://holderbook.com/stocks/JMF/) | $3.1M | 385,003 | 0.1% | 1 |
| INVESCO EXCHANGE TRADED FD T | [PRFZ](https://holderbook.com/stocks/PRFZ/) | $3.1M | 27,300 | 0.1% | 1 |
| CONTINENTAL RES INC | [CLR](https://holderbook.com/stocks/CLR/) | $3.1M | 76,057 | 0.1% | 1 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $2.9M | 66,609 | 0.1% | 1 |
| PIMCO INCOME OPPORTUNITY FD | [PKO](https://holderbook.com/stocks/PKO/) | $2.9M | 113,766 | 0.1% | 1 |
| BROOKFIELD INFRASTRUCTURE PA | [BIP](https://holderbook.com/stocks/BIP/) | $2.8M | 82,130 | 0.1% | 1 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $2.8M | 54,000 | 0.1% | 1 |
| PERMIAN BASIN RTY TR | [PBT](https://holderbook.com/stocks/PBT/) | $2.8M | 469,435 | 0.1% | 1 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $2.7M | 29,609 | 0.1% | 1 |
| COLFAX CORP | [CFX](https://holderbook.com/stocks/CFX/) | $2.7M | 129,047 | 0.1% | 1 |
| GAMCO INVS INC | [GAMI](https://holderbook.com/stocks/GAMI/) | $2.7M | 157,980 | 0.1% | 1 |
| CLEARBRIDGE MLP AND MIDSTRM | [CEMXXXX](https://holderbook.com/stocks/CEMXXXX/) | $2.7M | 256,318 | 0.1% | 1 |
| LOEWS CORP | [L](https://holderbook.com/stocks/L/) | $2.6M | 57,334 | 0.1% | 1 |
| PIMCO INCOME STRATEGY FD | [PFL](https://holderbook.com/stocks/PFL/) | $2.6M | 237,540 | 0.1% | 1 |
| MFS HIGH INCOME MUN TR | [CXE](https://holderbook.com/stocks/CXE/) | $2.6M | 553,199 | 0.1% | 1 |
| DISCOVERY INC | [DISCK](https://holderbook.com/stocks/DISCK/) | $2.5M | 109,095 | 0.1% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $2.5M | 0 | 0.1% | 1 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $2.5M | 7,724 | 0.1% | 1 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $2.4M | 45,199 | 0.1% | 1 |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2018 | $3.1B | 473 |