The Horizon Kinetics Medical ETF (the “Fund”) seeks long-term growth of capital. The Fund is an actively-managed exchange-traded fund (“ETF”) that will invest primarily in patented first line pharmaceuticals and biologics as these products tend to have high profit margins and significant barriers to entry. The Fund employs a long-term perspective, seeking to capture returns of both intrinsic valuation realization and scientific discovery.

Data as of: 06/11/2024
  • Ticker

    MEDX

  • CUSIP

    53656G5633

  • ISIN

    US53656G5633

  • Fund Type

    Active Equity ETF

  • Exchange

    NASDAQ

  • Inception Date

    1/27/2023

  • Expense Ratio

    0.85%

  • Typical Number of Holdings

    25 to 50

  • Net Assets

    $17,537,314

Data as of: 06/12/2024
Daily Holdings
  • % Net Assets

    16.58%

  • Name

    Eli Lilly & Co

  • Ticker

    LLY

  • CUSIP

    532457108

  • Shares Held

    3,359

  • Market Value

    $2,908,289

  • % Net Assets

    7.34%

  • Name

    AbbVie Inc

  • Ticker

    ABBV

  • CUSIP

    00287Y109

  • Shares Held

    7,678

  • Market Value

    $1,287,601

  • % Net Assets

    5.76%

  • Name

    Amgen Inc

  • Ticker

    AMGN

  • CUSIP

    031162100

  • Shares Held

    3,359

  • Market Value

    $1,010,051

  • % Net Assets

    5.72%

  • Name

    Novartis AG

  • Ticker

    NVS

  • CUSIP

    66987V109

  • Shares Held

    9,597

  • Market Value

    $1,002,982

  • % Net Assets

    5.64%

  • Name

    AstraZeneca PLC

  • Ticker

    AZN

  • CUSIP

    046353108

  • Shares Held

    12,476

  • Market Value

    $988,473

  • % Net Assets

    5.32%

  • Name

    US BANK MMDA - USBGFS 7 06/01/2031

  • Ticker

    USBGFS7

  • CUSIP

    8AMMF0FT3

  • Shares Held

    932,308

  • Market Value

    $932,308

  • % Net Assets

    5.05%

  • Name

    Merck & Co Inc

  • Ticker

    MRK

  • CUSIP

    58933Y105

  • Shares Held

    6,718

  • Market Value

    $885,701

  • % Net Assets

    4.36%

  • Name

    Bristol-Myers Squibb Co

  • Ticker

    BMY

  • CUSIP

    110122108

  • Shares Held

    17,755

  • Market Value

    $763,820

  • % Net Assets

    4.27%

  • Name

    Johnson & Johnson

  • Ticker

    JNJ

  • CUSIP

    478160104

  • Shares Held

    5,107

  • Market Value

    $749,503

  • % Net Assets

    4.15%

  • Name

    Regeneron Pharmaceuticals Inc

  • Ticker

    REGN

  • CUSIP

    75886F107

  • Shares Held

    720

  • Market Value

    $727,589

  • % Net Assets

    4.14%

  • Name

    Pfizer Inc

  • Ticker

    PFE

  • CUSIP

    717081103

  • Shares Held

    25,912

  • Market Value

    $726,313

  • % Net Assets

    4.01%

  • Name

    Biogen Inc

  • Ticker

    BIIB

  • CUSIP

    09062X103

  • Shares Held

    3,119

  • Market Value

    $704,083

  • % Net Assets

    3.75%

  • Name

    CRISPR Therapeutics AG

  • Ticker

    CRSP

  • CUSIP

    H17182108

  • Shares Held

    10,557

  • Market Value

    $657,807

  • % Net Assets

    3.26%

  • Name

    Alkermes PLC

  • Ticker

    ALKS

  • CUSIP

    G01767105

  • Shares Held

    23,033

  • Market Value

    $570,988

  • % Net Assets

    2.82%

  • Name

    Ionis Pharmaceuticals Inc

  • Ticker

    IONS

  • CUSIP

    462222100

  • Shares Held

    12,476

  • Market Value

    $495,172

  • % Net Assets

    2.64%

  • Name

    GSK PLC

  • Ticker

    GSK

  • CUSIP

    37733W204

  • Shares Held

    11,265

  • Market Value

    $462,541

  • % Net Assets

    2.57%

  • Name

    Alnylam Pharmaceuticals Inc

  • Ticker

    ALNY

  • CUSIP

    02043Q107

  • Shares Held

    2,880

  • Market Value

    $450,518

  • % Net Assets

    1.95%

  • Name

    Bicycle Therapeutics PLC

  • Ticker

    BCYC

  • CUSIP

    088786108

  • Shares Held

    14,396

  • Market Value

    $342,193

  • % Net Assets

    1.95%

  • Name

    Intellia Therapeutics Inc

  • Ticker

    NTLA

  • CUSIP

    45826J105

  • Shares Held

    14,396

  • Market Value

    $341,905

  • % Net Assets

    1.36%

  • Name

    Beam Therapeutics Inc

  • Ticker

    BEAM

  • CUSIP

    07373V105

  • Shares Held

    9,597

  • Market Value

    $238,581

  • % Net Assets

    0.98%

  • Name

    Editas Medicine Inc

  • Ticker

    EDIT

  • CUSIP

    28106W103

  • Shares Held

    31,670

  • Market Value

    $171,968

  • % Net Assets

    0.92%

  • Name

    Lantern Pharma Inc

  • Ticker

    LTRN

  • CUSIP

    51654W101

  • Shares Held

    28,791

  • Market Value

    $160,942

  • % Net Assets

    0.89%

  • Name

    Vanda Pharmaceuticals Inc

  • Ticker

    VNDA

  • CUSIP

    921659108

  • Shares Held

    25,912

  • Market Value

    $155,213

  • % Net Assets

    0.80%

  • Name

    Galectin Therapeutics Inc

  • Ticker

    GALT

  • CUSIP

    363225202

  • Shares Held

    53,742

  • Market Value

    $140,804

  • % Net Assets

    0.74%

  • Name

    Replimune Group Inc

  • Ticker

    REPL

  • CUSIP

    76029N106

  • Shares Held

    14,396

  • Market Value

    $129,564

  • % Net Assets

    0.67%

  • Name

    Haleon PLC

  • Ticker

    HLN

  • CUSIP

    405552100

  • Shares Held

    14,082

  • Market Value

    $117,162

  • % Net Assets

    0.41%

  • Name

    GE HealthCare Technologies Inc

  • Ticker

    GEHC

  • CUSIP

    36266G107

  • Shares Held

    960

  • Market Value

    $71,750

  • % Net Assets

    0.39%

  • Name

    Sandoz Group AG

  • Ticker

    SDZNY

  • CUSIP

    799926100

  • Shares Held

    1,920

  • Market Value

    $67,557

  • % Net Assets

    0.39%

  • Name

    2seventy bio Inc

  • Ticker

    TSVT

  • CUSIP

    901384107

  • Shares Held

    17,275

  • Market Value

    $67,891

  • % Net Assets

    0.28%

  • Name

    Allogene Therapeutics Inc

  • Ticker

    ALLO

  • CUSIP

    019770106

  • Shares Held

    19,194

  • Market Value

    $48,945

  • % Net Assets

    0.24%

  • Name

    Cash & Other

  • Ticker

    Cash&Other

  • CUSIP

    Cash&Other

  • Shares Held

    42,486

  • Market Value

    $42,486

  • % Net Assets

    0.22%

  • Name

    Viatris Inc

  • Ticker

    VTRS

  • CUSIP

    92556V106

  • Shares Held

    3,572

  • Market Value

    $38,006

  • % Net Assets

    0.21%

  • Name

    Bluebird Bio Inc

  • Ticker

    BLUE

  • CUSIP

    09609G100

  • Shares Held

    36,468

  • Market Value

    $36,005

  • % Net Assets

    0.12%

  • Name

    Pacific Biosciences of California Inc

  • Ticker

    PACB

  • CUSIP

    69404D108

  • Shares Held

    11,517

  • Market Value

    $20,961

  • % Net Assets

    0.08%

  • Name

    Salarius Pharmaceuticals Inc

  • Ticker

    SLRX

  • CUSIP

    79400X305

  • Shares Held

    31,094

  • Market Value

    $13,619

  • % Net Assets

    0.04%

  • Name

    Mural Oncology PLC

  • Ticker

    MURA

  • CUSIP

    G63365103

  • Shares Held

    2,304

  • Market Value

    $7,788

  • % Net Assets

    0.00%

  • Name

    Pathos AI Inc

  • Ticker

    2368714D

  • CUSIP

    BBG01L7QKRJ5

  • Shares Held

    23,992

  • Market Value

    $0

Data as of: 06/12/2024
Daily Holdings
  • % Net Assets

    Name

    Ticker

    CUSIP

    Shares Held

    Market Value

  • 16.58%

    Eli Lilly & Co

    LLY

    532457108

    3,359

    $2,908,289

  • 7.34%

    AbbVie Inc

    ABBV

    00287Y109

    7,678

    $1,287,601

  • 5.76%

    Amgen Inc

    AMGN

    031162100

    3,359

    $1,010,051

  • 5.72%

    Novartis AG

    NVS

    66987V109

    9,597

    $1,002,982

  • 5.64%

    AstraZeneca PLC

    AZN

    046353108

    12,476

    $988,473

  • 5.32%

    US BANK MMDA - USBGFS 7 06/01/2031

    USBGFS7

    8AMMF0FT3

    932,308

    $932,308

  • 5.05%

    Merck & Co Inc

    MRK

    58933Y105

    6,718

    $885,701

  • 4.36%

    Bristol-Myers Squibb Co

    BMY

    110122108

    17,755

    $763,820

  • 4.27%

    Johnson & Johnson

    JNJ

    478160104

    5,107

    $749,503

  • 4.15%

    Regeneron Pharmaceuticals Inc

    REGN

    75886F107

    720

    $727,589

  • 4.14%

    Pfizer Inc

    PFE

    717081103

    25,912

    $726,313

  • 4.01%

    Biogen Inc

    BIIB

    09062X103

    3,119

    $704,083

  • 3.75%

    CRISPR Therapeutics AG

    CRSP

    H17182108

    10,557

    $657,807

  • 3.26%

    Alkermes PLC

    ALKS

    G01767105

    23,033

    $570,988

  • 2.82%

    Ionis Pharmaceuticals Inc

    IONS

    462222100

    12,476

    $495,172

  • 2.64%

    GSK PLC

    GSK

    37733W204

    11,265

    $462,541

  • 2.57%

    Alnylam Pharmaceuticals Inc

    ALNY

    02043Q107

    2,880

    $450,518

  • 1.95%

    Bicycle Therapeutics PLC

    BCYC

    088786108

    14,396

    $342,193

  • 1.95%

    Intellia Therapeutics Inc

    NTLA

    45826J105

    14,396

    $341,905

  • 1.36%

    Beam Therapeutics Inc

    BEAM

    07373V105

    9,597

    $238,581

  • 0.98%

    Editas Medicine Inc

    EDIT

    28106W103

    31,670

    $171,968

  • 0.92%

    Lantern Pharma Inc

    LTRN

    51654W101

    28,791

    $160,942

  • 0.89%

    Vanda Pharmaceuticals Inc

    VNDA

    921659108

    25,912

    $155,213

  • 0.80%

    Galectin Therapeutics Inc

    GALT

    363225202

    53,742

    $140,804

  • 0.74%

    Replimune Group Inc

    REPL

    76029N106

    14,396

    $129,564

  • 0.67%

    Haleon PLC

    HLN

    405552100

    14,082

    $117,162

  • 0.41%

    GE HealthCare Technologies Inc

    GEHC

    36266G107

    960

    $71,750

  • 0.39%

    Sandoz Group AG

    SDZNY

    799926100

    1,920

    $67,557

  • 0.39%

    2seventy bio Inc

    TSVT

    901384107

    17,275

    $67,891

  • 0.28%

    Allogene Therapeutics Inc

    ALLO

    019770106

    19,194

    $48,945

  • 0.24%

    Cash & Other

    Cash&Other

    Cash&Other

    42,486

    $42,486

  • 0.22%

    Viatris Inc

    VTRS

    92556V106

    3,572

    $38,006

  • 0.21%

    Bluebird Bio Inc

    BLUE

    09609G100

    36,468

    $36,005

  • 0.12%

    Pacific Biosciences of California Inc

    PACB

    69404D108

    11,517

    $20,961

  • 0.08%

    Salarius Pharmaceuticals Inc

    SLRX

    79400X305

    31,094

    $13,619

  • 0.04%

    Mural Oncology PLC

    MURA

    G63365103

    2,304

    $7,788

  • 0.00%

    Pathos AI Inc

    2368714D

    BBG01L7QKRJ5

    23,992

    $0

Holdings are subject to change.

Data as of: 06/11/2024
  • Net Asset Value

    $29.48

  • NAV Change

    $0.05

  • Median 30 Day Spread

    0.35%

  • Market Price

    $29.53

  • Market Price Change

    $0.11

  • Premium/Discount

    $0.05 | 0.18%

Historical Data

Premium/Discount Range (%)

Date

  • Greatest Premium

    0.18% 05/20/2024

  • Greatest Discount

    -0.72% 04/22/2024

  • Number of Days At

  • Premium:

    12

  • NAV:

    1

  • Discount:

    38

  • Days Within Percent of NAV

  • Percent of Days +/- 0.5% of NAV:

    96%

  • Number of Days +/- 0.5% of NAV:

    49

Data as of: 03/31/2024
  • NAV

  • 1 Month

    -0.47%

  • YTD

    6.43%

  • 1 Year

    5.43%

  • 3 Year

    4.64%

  • 5 Year

    6.28%

  • Since Inception Annualized

    8.48%

  • Market Value

  • 1 Month

    -0.59%

  • YTD

    6.53%

  • 1 Year

    5.30%

  • 3 Year

    4.58%

  • 5 Year

    6.25%

  • Since Inception Annualized

    8.47%

Data as of: 03/31/2024
  • 1 Month

    YTD

    1 Year

    3 Year

    5 Year

    Since Inception Annualized

  • NAV

    -0.47%

    6.43%

    5.43%

    4.64%

    6.28%

    8.48%

  • Market Value

    -0.59%

    6.53%

    5.30%

    4.58%

    6.25%

    8.47%

Resources

  • MEDX 3/31/2024 Quarterly Schedule of Portfolio Holdings
    View PDF
  • 2023 Annual Report
    View PDF
  • MEDX 9/30/23 Quarterly Schedule of Portfolio Holdings
    View PDF
  • MEDX Factsheet
    View PDF
  • MEDX Presentation
    View PDF
  • 2023 ETF Distribution
    View PDF
  • MEDX Semi-Annual Report June 30 2023 (Unaudited)
    View PDF
  • MEDX 3/31/23 Quarterly Schedule of Portfolio Holdings
    View PDF
  • MEDX Prospectus
    View PDF
  • MEDX Summary Prospectus
    View PDF
  • MEDX Statement of Additional Information
    View PDF
  • MEDX 3/31/2024 Quarterly Schedule of Portfolio Holdings
    View PDF
  • 2023 Annual Report
    View PDF
  • MEDX 9/30/23 Quarterly Schedule of Portfolio Holdings
    View PDF
  • MEDX Factsheet
    View PDF
  • MEDX Presentation
    View PDF
  • 2023 ETF Distribution
    View PDF
  • MEDX Semi-Annual Report June 30 2023 (Unaudited)
    View PDF
  • MEDX 3/31/23 Quarterly Schedule of Portfolio Holdings
    View PDF
  • MEDX Prospectus
    View PDF
  • MEDX Summary Prospectus
    View PDF
  • MEDX Statement of Additional Information
    View PDF

Press

  • Replay - Horizon Kinetics Medical ETF (MEDX) Webinar (Event Date: March 5, 2024)
    Watch
  • Horizon Kinetics Medical ETF (MEDX) Webinar Replay – Event Date: July 12, 2023
    Watch
  • Horizon Kinetics Active ETF 2024 Webinar Series
    View PDF
  • MEDX Launch Press Release
    View PDF
  • Replay - Horizon Kinetics Medical ETF (MEDX) Webinar (Event Date: March 5, 2024)
    Watch
  • Horizon Kinetics Medical ETF (MEDX) Webinar Replay – Event Date: July 12, 2023
    Watch
  • Horizon Kinetics Active ETF 2024 Webinar Series
    View PDF
  • MEDX Launch Press Release
    View PDF

IMPORTANT RISK DISCLOSURES

Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a statutory prospectus and summary prospectus by contacting 646-495-7333. Read it carefully before investing.

The Horizon Kinetics Medical ETF (Symbol: MEDX) is an exchange traded fund managed by Horizon Kinetics Asset Management LLC (“HKAM”).

Please visit horizonkineticsetf.com/medx to access the Funds’ standardized performance and expense ratio. The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. For performance current to most recent month end please call 646-495-7333.

Since Inception returns are as of September 30, 1999. Effective January 27, 2023, the Medical Fund Fund (“Predecessor Fund”) was reorganized into the Horizon Kinetics Medical ETF and first listed on the exchange on [exchange listing date for the ETF], The returns shown for periods ending on or prior to January 27, 2023 are those of the predecessor fund, a 1940 Act mutual fund. Returns of the ETF will be different from the returns of the predecessor fund as they have different expenses. Market returns as of January 27, 2023 and going forward are based on the closing price on the listed exchange at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Prior to this date, all returns are based on the Predecessor’s fund 4:00 PM ET NAV.

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.

Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security.

Equity Market Risk. The equity securities held in the Fund’s portfolio may experience sudden, unpredictable drops in value or long
periods of decline in value.

Emerging Markets Risk. The Fund may invest in companies organized in emerging market nations. Investments in securities and instruments traded in developing or emerging markets, or that provide exposure to such securities or markets, can involve additional risks relating to political, economic, currency fluctuations or regulatory conditions not associated with investments in U.S. securities and instruments or investments in more developed international markets.

Non-Diversification Risk. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund.

New Fund Risk. The Fund is a recently organized investment company with no operating history. As a result, prospective investors have no track record or history on which to base their investment decision.

Associated Risks of Investing in the Medical Industry. Medical and pharmaceutical related companies in general are subject to the rate of change in technology, which is generally higher than that of other industries.

Below Investment Grade Bonds Risk. The Fund’s investments in below investment grade bonds are subject to a greater risk of loss of income and principal than higher grade debt securities.

Concentration Risk. The Fund expects to concentrate (i.e., invest more than 25% of its net assets) its investments in a limited number of issuers

Derivatives Risk. Put and call options are referred to as “derivative” instruments since their values are based on, or derived from, an underlying reference asset, such as an index.

Liquidity Risk. Liquidity risk refers to the possibility that the Fund may not be able to sell or buy a security or close out an investment contract at a favorable price or time.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the Options Risk. The prices of options may change rapidly over time and do not necessarily move in tandem with the price of the underlying securities.

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 Medical ETF (MEDX) is distributed by Foreside Fund Services, LLC (“Foreside”). Foreside is not affiliated with MEDX or Horizon Kinetics LLC or its subsidiaries.