The Horizon Kinetics Inflation Beneficiaries ETF is an actively managed ETF that seeks long-term growth of capital in real (inflation-adjusted) terms. It seeks to achieve its investment objective by investing primarily in domestic and foreign equity securities of companies that are expected to benefit, either directly or indirectly, from rising prices of real assets (i.e., assets whose value is mainly derived from physical properties such as commodities) such as those whose revenues are expected to increase with inflation without corresponding increases in expenses.
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Ticker
INFL
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CUSIP
53656F623
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ISIN
US53656F6236
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Fund Type
Active Equity ETF
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Exchange
NYSE
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Inception Date
1/11/2021
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Expense Ratio
0.85%
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Typical Number of Holdings
20 to 60
Date as of: 01/19/2021
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% Net Assets
5.90%
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Name
DEUTSCHE BOERSE AG
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Ticker
DB1 GR
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CUSIP
7021963
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Shares Held
4,068
-
Market Value
$656,962
-
% Net Assets
5.44%
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Name
TEXAS PACIFIC LAND CORPORATION COM
-
Ticker
TPL
-
CUSIP
88262P102
-
Shares Held
720
-
Market Value
$605,513
-
% Net Assets
5.22%
-
Name
CHARLES RIV LABS INTL INC
-
Ticker
CRL
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CUSIP
159864107
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Shares Held
2,124
-
Market Value
$581,381
-
% Net Assets
5.01%
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Name
INTERCONTINENTAL EXCHANGE INC COM
-
Ticker
ICE
-
CUSIP
45866F104
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Shares Held
4,842
-
Market Value
$557,750
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% Net Assets
4.64%
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Name
FRANCO NEV CORP
-
Ticker
FNV
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CUSIP
351858105
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Shares Held
4,266
-
Market Value
$517,039
-
% Net Assets
4.44%
-
Name
WHEATON PRECIOUS METALS CORP COM
-
Ticker
WPM
-
CUSIP
962879102
-
Shares Held
12,384
-
Market Value
$493,998
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% Net Assets
4.02%
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Name
ARCHER DANIELS MIDLAND CO
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Ticker
ADM
-
CUSIP
039483102
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Shares Held
8,568
-
Market Value
$447,250
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% Net Assets
3.99%
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Name
PRAIRIESKY ROYALTY LTD
-
Ticker
PSK CN
-
CUSIP
BN320L4
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Shares Held
51,984
-
Market Value
$444,099
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% Net Assets
3.78%
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Name
ASX LTD
-
Ticker
ASX AU
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CUSIP
6129222
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Shares Held
7,722
-
Market Value
$421,321
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% Net Assets
3.75%
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Name
Cash & Other
-
Ticker
Cash&Other
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CUSIP
Cash&Other
-
Shares Held
417,714
-
Market Value
$417,714
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% Net Assets
3.15%
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Name
VIPER ENERGY PARTNERS LP
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Ticker
VNOM
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CUSIP
92763M105
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Shares Held
24,372
-
Market Value
$351,201
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% Net Assets
3.15%
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Name
BRIGHAM MINERALS INC
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Ticker
MNRL
-
CUSIP
10918L103
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Shares Held
26,424
-
Market Value
$350,911
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% Net Assets
3.09%
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Name
EURONEXT
-
Ticker
ENX FP
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CUSIP
BNBNSG0
-
Shares Held
3,078
-
Market Value
$344,477
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% Net Assets
3.01%
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Name
BROOKFIELD ASSET MGMT INC
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Ticker
BAM
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CUSIP
112585104
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Shares Held
8,658
-
Market Value
$335,411
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% Net Assets
2.98%
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Name
MARSH & MCLENNAN COS INC
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Ticker
MMC
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CUSIP
571748102
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Shares Held
2,970
-
Market Value
$332,165
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% Net Assets
2.93%
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Name
WEYERHAEUSER CO MTN BE
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Ticker
WY
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CUSIP
962166104
-
Shares Held
10,026
-
Market Value
$326,046
-
% Net Assets
2.93%
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Name
MESABI TR
-
Ticker
MSB
-
CUSIP
590672101
-
Shares Held
11,934
-
Market Value
$326,156
-
% Net Assets
2.86%
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Name
VERISK ANALYTICS INC
-
Ticker
VRSK
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CUSIP
92345Y106
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Shares Held
1,674
-
Market Value
$318,093
-
% Net Assets
2.70%
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Name
OSISKO GOLD ROYALTIES LTD
-
Ticker
OR
-
CUSIP
68827L101
-
Shares Held
25,452
-
Market Value
$301,097
-
% Net Assets
2.61%
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Name
CBRE GROUP INC
-
Ticker
CBRE
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CUSIP
12504L109
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Shares Held
4,572
-
Market Value
$290,413
-
% Net Assets
2.58%
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Name
CACI INTL INC
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Ticker
CACI
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CUSIP
127190304
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Shares Held
1,170
-
Market Value
$286,943
-
% Net Assets
2.25%
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Name
SINGAPORE EXCHANGE
-
Ticker
SGX SP
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CUSIP
6303866
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Shares Held
33,750
-
Market Value
$250,413
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% Net Assets
2.21%
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Name
WEST FRASER TIMBER LTD
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Ticker
WFT CN
-
CUSIP
2951098
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Shares Held
4,140
-
Market Value
$246,635
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% Net Assets
2.12%
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Name
ROYALTY PHARMA PLC
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Ticker
RPRX
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CUSIP
G7709Q104
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Shares Held
4,554
-
Market Value
$236,580
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% Net Assets
2.09%
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Name
NUTRIEN LTD
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Ticker
NTR
-
CUSIP
67077M108
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Shares Held
4,338
-
Market Value
$232,690
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% Net Assets
2.03%
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Name
COHEN & STEERS INC
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Ticker
CNS
-
CUSIP
19247A100
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Shares Held
3,078
-
Market Value
$226,633
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% Net Assets
2.03%
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Name
ST JOE CO
-
Ticker
JOE
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CUSIP
790148100
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Shares Held
5,040
-
Market Value
$225,792
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% Net Assets
1.92%
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Name
TMX GROUP LTD
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Ticker
X CN
-
CUSIP
B8KH5G7
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Shares Held
2,214
-
Market Value
$213,730
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% Net Assets
1.92%
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Name
CME GROUP INC
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Ticker
CME
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CUSIP
12572Q105
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Shares Held
1,116
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Market Value
$214,071
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% Net Assets
1.82%
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Name
SANDSTORM GOLD LTD
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Ticker
SAND
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CUSIP
80013R206
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Shares Held
30,564
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Market Value
$203,251
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% Net Assets
1.09%
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Name
DORCHESTER MINERALS LP
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Ticker
DMLP
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CUSIP
25820R105
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Shares Held
9,414
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Market Value
$121,346
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% Net Assets
0.86%
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Name
FREEHOLD ROYALTIES LTD COM
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Ticker
FRU CN
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CUSIP
B3SJKB0
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Shares Held
20,196
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Market Value
$95,448
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% Net Assets
0.75%
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Name
ALTIUS MINERALS CORPORATION
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Ticker
ALS CN
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CUSIP
2122355
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Shares Held
7,452
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Market Value
$83,988
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% Net Assets
0.73%
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Name
DETERRA ROYALTIES
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Ticker
DRR AU
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CUSIP
BJP5T05
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Shares Held
24,030
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Market Value
$81,805
Date as of: 01/19/2021
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% Net Assets
Name
Ticker
CUSIP
Shares Held
Market Value
-
5.90%
DEUTSCHE BOERSE AG
DB1 GR
7021963
4,068
$656,962
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5.44%
TEXAS PACIFIC LAND CORPORATION COM
TPL
88262P102
720
$605,513
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5.22%
CHARLES RIV LABS INTL INC
CRL
159864107
2,124
$581,381
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5.01%
INTERCONTINENTAL EXCHANGE INC COM
ICE
45866F104
4,842
$557,750
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4.64%
FRANCO NEV CORP
FNV
351858105
4,266
$517,039
-
4.44%
WHEATON PRECIOUS METALS CORP COM
WPM
962879102
12,384
$493,998
-
4.02%
ARCHER DANIELS MIDLAND CO
ADM
039483102
8,568
$447,250
-
3.99%
PRAIRIESKY ROYALTY LTD
PSK CN
BN320L4
51,984
$444,099
-
3.78%
ASX LTD
ASX AU
6129222
7,722
$421,321
-
3.75%
Cash & Other
Cash&Other
Cash&Other
417,714
$417,714
-
3.15%
VIPER ENERGY PARTNERS LP
VNOM
92763M105
24,372
$351,201
-
3.15%
BRIGHAM MINERALS INC
MNRL
10918L103
26,424
$350,911
-
3.09%
EURONEXT
ENX FP
BNBNSG0
3,078
$344,477
-
3.01%
BROOKFIELD ASSET MGMT INC
BAM
112585104
8,658
$335,411
-
2.98%
MARSH & MCLENNAN COS INC
MMC
571748102
2,970
$332,165
-
2.93%
WEYERHAEUSER CO MTN BE
WY
962166104
10,026
$326,046
-
2.93%
MESABI TR
MSB
590672101
11,934
$326,156
-
2.86%
VERISK ANALYTICS INC
VRSK
92345Y106
1,674
$318,093
-
2.70%
OSISKO GOLD ROYALTIES LTD
OR
68827L101
25,452
$301,097
-
2.61%
CBRE GROUP INC
CBRE
12504L109
4,572
$290,413
-
2.58%
CACI INTL INC
CACI
127190304
1,170
$286,943
-
2.25%
SINGAPORE EXCHANGE
SGX SP
6303866
33,750
$250,413
-
2.21%
WEST FRASER TIMBER LTD
WFT CN
2951098
4,140
$246,635
-
2.12%
ROYALTY PHARMA PLC
RPRX
G7709Q104
4,554
$236,580
-
2.09%
NUTRIEN LTD
NTR
67077M108
4,338
$232,690
-
2.03%
COHEN & STEERS INC
CNS
19247A100
3,078
$226,633
-
2.03%
ST JOE CO
JOE
790148100
5,040
$225,792
-
1.92%
TMX GROUP LTD
X CN
B8KH5G7
2,214
$213,730
-
1.92%
CME GROUP INC
CME
12572Q105
1,116
$214,071
-
1.82%
SANDSTORM GOLD LTD
SAND
80013R206
30,564
$203,251
-
1.09%
DORCHESTER MINERALS LP
DMLP
25820R105
9,414
$121,346
-
0.86%
FREEHOLD ROYALTIES LTD COM
FRU CN
B3SJKB0
20,196
$95,448
-
0.75%
ALTIUS MINERALS CORPORATION
ALS CN
2122355
7,452
$83,988
-
0.73%
DETERRA ROYALTIES
DRR AU
BJP5T05
24,030
$81,805
Date as of: 01/15/2021
-
Net Asset Value
$24.75
-
NAV Change
$-0.33
-
Median 30 Day Spread
-
Market Price
$24.83
-
Market Price Change
$-0.33
-
Premium/Discount
$0.08 | 0.31%
Historical Data
Premium/Discount Range (%)
Number of Days
-
Greatest Premium
0.44% 01/13/2021
-
Greatest Discount
N/A
-
Number of Days At
-
Premium:
4
-
NAV:
1
-
Discount:
0
-
Days Within Percent of NAV
-
Percent of Days +/- 0.5% of NAV:
100%
-
Number of Days +/- 0.5% of NAV:
5
The Premium/Discount chart shows the difference between the daily market price of the Fund's shares and the Fund's net asset value ("NAV").
IMPORTANT RISK DISCLOSURES
Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a statutory and summary prospectus by contacting 646-495-7333. Read it carefully before investing.
The Horizon Kinetics Inflation Beneficiaries ETF (Symbol: INFL) is an exchange traded fund managed by Horizon Kinetics Asset Management LLC (“HKAM”).
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund’s investments in securities linked to real assets involve significant risks, including financial, operating, and competitive risks. Investments in securities linked to real assets expose the Fund to potentially adverse macroeconomic conditions, such as a rise in interest rates or a downturn in the economy in which the asset is located.
The Fund is non‐diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund.
Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security.
The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets.
The Fund may invest in the securities of smaller and mid‐capitalization companies, which may be more volatile than funds that invest in larger, more established companies. The fund is actively managed and may be affected by the investment adviser’s security selections.
Diversification does not assure a profit or protect against a loss in a declining market.
HKAM does not provide tax or legal advice, all investors are encouraged to consult their tax and legal advisors regarding an investment in the Fund. You may obtain additional information about HKAM at our website at www.horizonkinetics.com.
No part of this material may be copied, photocopied, or duplicated in any form, by any means, or redistributed without the express written consent of HKAM.
The Horizon Kinetics Inflation Beneficiaries ETF (INFL) is distributed by Foreside Fund Services, LLC (“Foreside”). Foreside is not affiliated with INFL or Horizon Kinetics LLC or its subsidiaries.