The ETF invests primarily in the equity securities of domestic and foreign companies expected to benefit, either directly or indirectly, from the increasing focus on climate change and environmentally sensitive carbon-based energy production. A great many businesses will not. The Fund employs a dual, reality-based mandate: (1) companies that produce carbon-based energy positioned to benefit from long-term global demand growth and developing structural supply insufficiency, and (2) remediation companies with existing and/or developing technologies that can alleviate the negative environmental impacts derived from the production and consumption of hydrocarbons.

Data as of: 06/01/2023
  • Ticker

    NVIR

  • CUSIP

    53656G514

  • ISIN

    US53656G5146

  • Fund Type

    Active Equity ETF

  • Exchange

    NYSE

  • Inception Date

    2/21/2023

  • Expense Ratio

    0.85%

  • Typical Number of Holdings

    30 to 50

  • Net Assets

    $2,349,901

Data as of: 06/02/2023
Daily Holdings
  • % Net Assets

    6.62%

  • Name

    Cash & Other

  • Ticker

    Cash&Other

  • CUSIP

    Cash&Other

  • Shares Held

    155,601

  • Market Value

    $155,601

  • % Net Assets

    4.43%

  • Name

    EQT CORP

  • Ticker

    EQT

  • CUSIP

    26884L109

  • Shares Held

    2,964

  • Market Value

    $104,036

  • % Net Assets

    4.33%

  • Name

    DENBURY INC

  • Ticker

    DEN

  • CUSIP

    24790A101

  • Shares Held

    1,120

  • Market Value

    $101,752

  • % Net Assets

    4.08%

  • Name

    PERMIAN BASIN RTY TR

  • Ticker

    PBT

  • CUSIP

    714236106

  • Shares Held

    3,808

  • Market Value

    $95,885

  • % Net Assets

    4.08%

  • Name

    PRAIRIESKY ROYALTY LTD

  • Ticker

    PSK CN

  • CUSIP

    BN320L4

  • Shares Held

    5,564

  • Market Value

    $95,936

  • % Net Assets

    3.80%

  • Name

    CHENIERE ENERGY INC

  • Ticker

    LNG

  • CUSIP

    16411R208

  • Shares Held

    628

  • Market Value

    $89,320

  • % Net Assets

    3.77%

  • Name

    OCCIDENTAL PETE CORP

  • Ticker

    OXY

  • CUSIP

    674599105

  • Shares Held

    1,524

  • Market Value

    $88,575

  • % Net Assets

    3.76%

  • Name

    PIONEER NAT RES CO

  • Ticker

    PXD

  • CUSIP

    723787107

  • Shares Held

    440

  • Market Value

    $88,352

  • % Net Assets

    3.73%

  • Name

    CONOCOPHILLIPS

  • Ticker

    COP

  • CUSIP

    20825C104

  • Shares Held

    880

  • Market Value

    $87,586

  • % Net Assets

    3.71%

  • Name

    DIAMONDBACK ENERGY INC

  • Ticker

    FANG

  • CUSIP

    25278X109

  • Shares Held

    680

  • Market Value

    $87,108

  • % Net Assets

    3.69%

  • Name

    CHESAPEAKE ENERGY CORP

  • Ticker

    CHK

  • CUSIP

    165167735

  • Shares Held

    1,140

  • Market Value

    $86,811

  • % Net Assets

    3.62%

  • Name

    WILLIAMS COS INC

  • Ticker

    WMB

  • CUSIP

    969457100

  • Shares Held

    2,924

  • Market Value

    $85,118

  • % Net Assets

    3.57%

  • Name

    EOG RES INC

  • Ticker

    EOG

  • CUSIP

    26875P101

  • Shares Held

    776

  • Market Value

    $83,924

  • % Net Assets

    3.34%

  • Name

    SUNCOR ENERGY INC NEW

  • Ticker

    SU

  • CUSIP

    867224107

  • Shares Held

    2,772

  • Market Value

    $78,501

  • % Net Assets

    3.24%

  • Name

    SCHLUMBERGER LTD

  • Ticker

    SLB

  • CUSIP

    806857108

  • Shares Held

    1,692

  • Market Value

    $76,106

  • % Net Assets

    2.72%

  • Name

    TEXAS PACIFIC LAND CORPORATION COM

  • Ticker

    TPL

  • CUSIP

    88262P102

  • Shares Held

    48

  • Market Value

    $63,806

  • % Net Assets

    2.54%

  • Name

    OIL STS INTL INC

  • Ticker

    OIS

  • CUSIP

    678026105

  • Shares Held

    9,040

  • Market Value

    $59,754

  • % Net Assets

    2.13%

  • Name

    BADGER METER INC

  • Ticker

    BMI

  • CUSIP

    056525108

  • Shares Held

    352

  • Market Value

    $50,009

  • % Net Assets

    2.10%

  • Name

    ITRON INC

  • Ticker

    ITRI

  • CUSIP

    465741106

  • Shares Held

    736

  • Market Value

    $49,290

  • % Net Assets

    2.01%

  • Name

    ENERGY RECOVERY INC

  • Ticker

    ERII

  • CUSIP

    29270J100

  • Shares Held

    1,952

  • Market Value

    $47,258

  • % Net Assets

    1.90%

  • Name

    ECOLAB INC

  • Ticker

    ECL

  • CUSIP

    278865100

  • Shares Held

    264

  • Market Value

    $44,648

  • % Net Assets

    1.82%

  • Name

    TRICAN WELL SVC LTD

  • Ticker

    TCW CN

  • CUSIP

    2869964

  • Shares Held

    17,932

  • Market Value

    $42,747

  • % Net Assets

    1.81%

  • Name

    PENTAIR PLC

  • Ticker

    PNR

  • CUSIP

    G7S00T104

  • Shares Held

    756

  • Market Value

    $42,578

  • % Net Assets

    1.74%

  • Name

    XYLEM INC

  • Ticker

    XYL

  • CUSIP

    98419M100

  • Shares Held

    400

  • Market Value

    $40,852

  • % Net Assets

    1.73%

  • Name

    FRANKLIN ELEC INC

  • Ticker

    FELE

  • CUSIP

    353514102

  • Shares Held

    444

  • Market Value

    $40,733

  • % Net Assets

    1.68%

  • Name

    FLOWSERVE CORP

  • Ticker

    FLS

  • CUSIP

    34354P105

  • Shares Held

    1,196

  • Market Value

    $39,564

  • % Net Assets

    1.68%

  • Name

    IDEXX LABS INC

  • Ticker

    IDXX

  • CUSIP

    45168D104

  • Shares Held

    84

  • Market Value

    $39,467

  • % Net Assets

    1.63%

  • Name

    ENERFLEX LTD

  • Ticker

    EFXT

  • CUSIP

    29269R105

  • Shares Held

    6,660

  • Market Value

    $38,228

  • % Net Assets

    1.62%

  • Name

    DANAHER CORPORATION

  • Ticker

    DHR

  • CUSIP

    235851102

  • Shares Held

    164

  • Market Value

    $38,161

  • % Net Assets

    1.62%

  • Name

    WATTS WATER TECHNOLOGIES INC CL A

  • Ticker

    WTS

  • CUSIP

    942749102

  • Shares Held

    236

  • Market Value

    $38,060

  • % Net Assets

    1.58%

  • Name

    IDEX CORP

  • Ticker

    IEX

  • CUSIP

    45167R104

  • Shares Held

    184

  • Market Value

    $37,043

  • % Net Assets

    1.51%

  • Name

    CES ENERGY SOLUTIONS CORP COM NEW

  • Ticker

    CEU CN

  • CUSIP

    BZ57CN7

  • Shares Held

    19,764

  • Market Value

    $35,409

  • % Net Assets

    1.48%

  • Name

    LIBERTY ENERGY INC

  • Ticker

    LBRT

  • CUSIP

    53115L104

  • Shares Held

    2,772

  • Market Value

    $34,789

  • % Net Assets

    1.32%

  • Name

    SECURE ENERGY SERVICES INC

  • Ticker

    SES CN

  • CUSIP

    B55SGV6

  • Shares Held

    6,964

  • Market Value

    $30,934

  • % Net Assets

    1.30%

  • Name

    Calfrac Well Services Ltd

  • Ticker

    CFW CN

  • CUSIP

    BNLXSR1

  • Shares Held

    9,548

  • Market Value

    $30,537

  • % Net Assets

    1.29%

  • Name

    FLUOR CORP NEW

  • Ticker

    FLR

  • CUSIP

    343412102

  • Shares Held

    1,144

  • Market Value

    $30,408

  • % Net Assets

    1.23%

  • Name

    TETRA TECHNOLOGIES INC DEL

  • Ticker

    TTI

  • CUSIP

    88162F105

  • Shares Held

    10,880

  • Market Value

    $28,941

  • % Net Assets

    1.16%

  • Name

    STEP Energy Services Ltd

  • Ticker

    STEP CN

  • CUSIP

    BD6RP33

  • Shares Held

    13,280

  • Market Value

    $27,233

  • % Net Assets

    0.39%

  • Name

    SABINE RTY TR

  • Ticker

    SBR

  • CUSIP

    785688102

  • Shares Held

    133

  • Market Value

    $9,247

  • % Net Assets

    0.23%

  • Name

    SAN JUAN BASIN RTY TR

  • Ticker

    SJT

  • CUSIP

    798241105

  • Shares Held

    666

  • Market Value

    $5,495

Data as of: 06/02/2023
Daily Holdings
  • % Net Assets

    Name

    Ticker

    CUSIP

    Shares Held

    Market Value

  • 6.62%

    Cash & Other

    Cash&Other

    Cash&Other

    155,601

    $155,601

  • 4.43%

    EQT CORP

    EQT

    26884L109

    2,964

    $104,036

  • 4.33%

    DENBURY INC

    DEN

    24790A101

    1,120

    $101,752

  • 4.08%

    PERMIAN BASIN RTY TR

    PBT

    714236106

    3,808

    $95,885

  • 4.08%

    PRAIRIESKY ROYALTY LTD

    PSK CN

    BN320L4

    5,564

    $95,936

  • 3.80%

    CHENIERE ENERGY INC

    LNG

    16411R208

    628

    $89,320

  • 3.77%

    OCCIDENTAL PETE CORP

    OXY

    674599105

    1,524

    $88,575

  • 3.76%

    PIONEER NAT RES CO

    PXD

    723787107

    440

    $88,352

  • 3.73%

    CONOCOPHILLIPS

    COP

    20825C104

    880

    $87,586

  • 3.71%

    DIAMONDBACK ENERGY INC

    FANG

    25278X109

    680

    $87,108

  • 3.69%

    CHESAPEAKE ENERGY CORP

    CHK

    165167735

    1,140

    $86,811

  • 3.62%

    WILLIAMS COS INC

    WMB

    969457100

    2,924

    $85,118

  • 3.57%

    EOG RES INC

    EOG

    26875P101

    776

    $83,924

  • 3.34%

    SUNCOR ENERGY INC NEW

    SU

    867224107

    2,772

    $78,501

  • 3.24%

    SCHLUMBERGER LTD

    SLB

    806857108

    1,692

    $76,106

  • 2.72%

    TEXAS PACIFIC LAND CORPORATION COM

    TPL

    88262P102

    48

    $63,806

  • 2.54%

    OIL STS INTL INC

    OIS

    678026105

    9,040

    $59,754

  • 2.13%

    BADGER METER INC

    BMI

    056525108

    352

    $50,009

  • 2.10%

    ITRON INC

    ITRI

    465741106

    736

    $49,290

  • 2.01%

    ENERGY RECOVERY INC

    ERII

    29270J100

    1,952

    $47,258

  • 1.90%

    ECOLAB INC

    ECL

    278865100

    264

    $44,648

  • 1.82%

    TRICAN WELL SVC LTD

    TCW CN

    2869964

    17,932

    $42,747

  • 1.81%

    PENTAIR PLC

    PNR

    G7S00T104

    756

    $42,578

  • 1.74%

    XYLEM INC

    XYL

    98419M100

    400

    $40,852

  • 1.73%

    FRANKLIN ELEC INC

    FELE

    353514102

    444

    $40,733

  • 1.68%

    FLOWSERVE CORP

    FLS

    34354P105

    1,196

    $39,564

  • 1.68%

    IDEXX LABS INC

    IDXX

    45168D104

    84

    $39,467

  • 1.63%

    ENERFLEX LTD

    EFXT

    29269R105

    6,660

    $38,228

  • 1.62%

    DANAHER CORPORATION

    DHR

    235851102

    164

    $38,161

  • 1.62%

    WATTS WATER TECHNOLOGIES INC CL A

    WTS

    942749102

    236

    $38,060

  • 1.58%

    IDEX CORP

    IEX

    45167R104

    184

    $37,043

  • 1.51%

    CES ENERGY SOLUTIONS CORP COM NEW

    CEU CN

    BZ57CN7

    19,764

    $35,409

  • 1.48%

    LIBERTY ENERGY INC

    LBRT

    53115L104

    2,772

    $34,789

  • 1.32%

    SECURE ENERGY SERVICES INC

    SES CN

    B55SGV6

    6,964

    $30,934

  • 1.30%

    Calfrac Well Services Ltd

    CFW CN

    BNLXSR1

    9,548

    $30,537

  • 1.29%

    FLUOR CORP NEW

    FLR

    343412102

    1,144

    $30,408

  • 1.23%

    TETRA TECHNOLOGIES INC DEL

    TTI

    88162F105

    10,880

    $28,941

  • 1.16%

    STEP Energy Services Ltd

    STEP CN

    BD6RP33

    13,280

    $27,233

  • 0.39%

    SABINE RTY TR

    SBR

    785688102

    133

    $9,247

  • 0.23%

    SAN JUAN BASIN RTY TR

    SJT

    798241105

    666

    $5,495

Data as of: 06/01/2023
  • Net Asset Value

    $23.5

  • NAV Change

    $0.38

  • Median 30 Day Spread

    0.47%

  • Market Price

    $23.49

  • Market Price Change

    $0.36

  • Premium/Discount

    $-0.01 | -0.03%

Historical Data

Premium/Discount Range (%)

Date

  • Greatest Premium

    0.13% 05/02/2023

  • Greatest Discount

    -0.30% 04/03/2023

  • Number of Days At

  • Premium:

    12

  • NAV:

    4

  • Discount:

    26

  • Days Within Percent of NAV

  • Percent of Days +/- 0.5% of NAV:

    100%

  • Number of Days +/- 0.5% of NAV:

    42

Resources

Press

  • Horizon Kinetics Active ETF Webinar (Event Date: 5/17/2023)
    Watch
  • Steven Tuen on TD Ameritrade The Watch List – Introduction to NVIR (Aired on 3/15/2023)
    Watch
  • Press Release: Horizon Kinetics Launches the Energy & Remediation ETF (NVIR)
    View PDF
  • Horizon Kinetics Active ETF Webinar (Event Date: 5/17/2023)
    Watch
  • Steven Tuen on TD Ameritrade The Watch List – Introduction to NVIR (Aired on 3/15/2023)
    Watch
  • Press Release: Horizon Kinetics Launches the Energy & Remediation ETF (NVIR)
    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 Energy and Remediation ETF (Symbol: NVIR) 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 Energy and Remediation ETF (NVIR) is distributed by Foreside Fund Services, LLC (“Foreside”). Foreside is not affiliated with NVIR or Horizon Kinetics LLC or its subsidiaries.

Energy Sector Risk: The Fund’s investments are exposed to issuers conducting business in the Energy Sector, including energy, industrial, infrastructure, and logistics companies, and is therefore susceptible to the adverse economic, environmental, business, regulatory, or other occurrences affecting the Energy Sector. Companies in the Crude Petroleum and Natural Gas Industry are affected by specific risks, including, among others, fluctuations in commodity prices; reduced consumer demand for commodities such as oil, natural gas, or petroleum products; reduced availability of natural gas or other commodities for transporting, processing, storing, or delivering; slowdowns in new construction; extreme weather or other natural disasters; and threats of attack by terrorists on energy assets. Additionally, Crude Petroleum and Natural Gas Industry companies are subject to substantial government regulation and changes in the regulatory environment for energy companies may adversely impact their profitability.

Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

CPI: The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Dividend yield: Dividend yield equals the annual dividend per share divided by the stock’s price per share.

Stagflation: Persistent high inflation combined with high unemployment and stagnant demand in a country’s economy.

Duration: Bond duration is a measure of how much bond prices are likely to change if and when interest rates move.

Bloomberg Barclays US Aggregate Bond Index: The Bloomberg Barclays US Aggregate Bond Index is a broad-based benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate pass-throughs), ABS and CMBS (agency and non-agency). An investor cannot invest directly in an index.

Basis points: Basis points are a common unit of measure for percentages in finance. One basis point is equal to 1/100th of 1%.

Yield to worst: The yield to worst is the minimum yield that can be received on a bond, assuming the issuer doesn’t default.

S&P 500 Index: The S&P 500®️️ Index represents an unmanaged, broad-based basket of stocks. It is typically used as a proxy for overall market performance.

Beta: The beta of a security is a measurement of its volatility of returns relative to the entire market. It is used as a measure of risk.