We are live on ! Find out more
HKAM

Horizon Kinetics Asset Management Portfolio holdings

AUM $9.23B
1-Year Est. Return 27.52%
This Fund
S&P 500
This Quarter Est. Return
-6.53%
1 Year Est. Return
+27.52%
3 Year Est. Return
+184.83%
5 Year Est. Return
+256.84%
10 Year Est. Return
–
AUM
$7.39B
AUM Growth
-$809M
Cap. Flow
-$167M
Cap. Flow %
-2.26%
Top 10 Hldgs %
73.65%
Holding
339
New
3
Increased
45
Reduced
197
Closed
15

Top Buys

Rank Stock Value
1
MIAX
Miami International Holdings
MIAX
+$19.5M
2
HE icon
Hawaiian Electric Industries
HE
+$13.2M
3
TFPM icon
Triple Flag Precious Metals
TFPM
+$12.5M
4
WBI
WaterBridge Infrastructure LLC
WBI
+$11.2M
5
RGLD icon
Royal Gold
RGLD
+$6.16M

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$55.1M
2
BN icon
Brookfield
BN
+$40.6M
3
WPM icon
Wheaton Precious Metals
WPM
+$32M
4
AC
Associated Capital Group
AC
+$27M
5
WFG icon
West Fraser Timber
WFG
+$20.1M

Sector Composition

Rank Sector Weight
1 Energy 51.65%
2 Materials 9.85%
3 Financials 9.49%
4 Utilities 3.26%
5 Consumer Discretionary 2.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KRP icon
226
Kimbell Royalty Partners
KRP
$1.48B
$458K 0.01%
38,934
-2,031
-5% -$26K
BWXT icon
227
BWX Technologies
BWXT
$15.6B
$458K 0.01%
2,647
– –
FHI icon
228
Federated Hermes
FHI
$4.72B
$451K 0.01%
8,656
-23
-0.3% -$1.17K
MDLZ icon
229
Mondelez International
MDLZ
$79.9B
$444K 0.01%
8,244
– –
BTZ icon
230
BlackRock Credit Allocation Income Trust
BTZ
$956M
$439K 0.01%
40,534
– –
FBTC icon
231
Fidelity Wise Origin Bitcoin Fund
FBTC
$12.1B
$433K 0.01%
5,681
– –
AEHR icon
232
Aehr Test Systems
AEHR
$3.36B
$430K 0.01%
21,300
+5,900
+38% +$143K
MQT
233
DELISTED
BlackRock MuniYield Quality Fund II
MQT
$429K 0.01%
42,650
– –
NBH
234
Neuberger Municipal Fund Inc
NBH
$304M
$419K 0.01%
41,396
– –
AVGO icon
235
Broadcom
AVGO
$2.04T
$418K 0.01%
1,207
– –
GBX icon
236
The Greenbrier Companies
GBX
$1.46B
$407K 0.01%
8,700
+350
+4% +$15.7K
WOOD icon
237
iShares Global Timber & Forestry ETF
WOOD
$274M
$396K 0.01%
5,505
-290
-5% -$20.4K
NBB icon
238
Nuveen Taxable Municipal Income Fund
NBB
$453M
$395K 0.01%
24,993
-1,087
-4% -$17.6K
GM icon
239
General Motors
GM
$76.8B
$389K 0.01%
4,783
-2,517
-34% -$177K
ERII icon
240
Energy Recovery
ERII
$443M
$384K 0.01%
28,440
– –
FMN
241
Federated Hermes Premier Municipal Income Fund
FMN
$87.5M
$380K 0.01%
34,170
– –
META icon
242
Meta Platforms (Facebook)
META
$1.51T
$376K 0.01%
570
-10
-2% -$6.68K
AMZN icon
243
Amazon
AMZN
$2.96T
$357K ﹤0.01%
1,546
-20
-1% -$4.58K
MKTX icon
244
MarketAxess Holdings
MKTX
$5.72B
$353K ﹤0.01%
1,950
– –
RYN icon
245
Rayonier
RYN
$6.55B
$341K ﹤0.01%
15,773
-5,580
-26% -$126K
VIXY icon
246
CALL
ProShares VIX Short-Term Futures ETF
VIXY
$197M
$336K ﹤0.01%
6,100
– –
AFL icon
247
Aflac
AFL
$62.6B
$331K ﹤0.01%
3,000
– –
BP icon
248
BP
BP
$107B
$329K ﹤0.01%
9,466
– –
NZF icon
249
Nuveen Municipal Credit Income Fund
NZF
$2.45B
$327K ﹤0.01%
25,965
-1,730
-6% -$21.8K
DBL
250
DoubleLine Opportunistic Credit Fund
DBL
$280M
$317K ﹤0.01%
20,777
-4,447
-18% -$68.5K
8 9
10
11 12

Similar funds

SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
LCAM
London & Capital Asset Management London, United Kingdom $9.18B AUM 25.04% 1-Year Est. Return
IAA
Independent Advisor Alliance Charlotte, North Carolina $9.32B AUM 33.19% 1-Year Est. Return
SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return
PVI
Partners Value Investments Hamilton, Bermuda $9.34B AUM 12.2% 1-Year Est. Return
AC
Allstate Corporation Northbrook, Illinois $9.35B AUM 16.13% 1-Year Est. Return
NPT
National Philanthropic Trust Jenkintown, Pennsylvania $9.38B AUM 33.37% 1-Year Est. Return

Horizon Kinetics Asset Management's Q4 2025 Portfolio in Review

As of Q4 2025, Horizon Kinetics Asset Management held 339 positions worth $7.39B, down 9.9% from $8.2B the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Horizon Kinetics Asset Management's Q4 2025 filing shows 3 new, 45 increased, 197 reduced and 15 closed positions. Its largest new stake was Western Midstream Partners: 134,085 shares worth $5.3M. The largest sale was Texas Pacific Land, an estimated $55.1M.

By sector, the portfolio is most concentrated in Energy at 52% of assets, up from 51% a quarter earlier, followed by Materials and Financials.

  • Horizon Kinetics Asset Management's largest Q4 2025 buy was Western Midstream Partners: 134,085 shares worth $5.3M.
  • Horizon Kinetics Asset Management added most to Miami International Holdings in Q4 2025, an estimated $19.5M increase.
  • Horizon Kinetics Asset Management's biggest Q4 2025 reduction was Texas Pacific Land, cutting an estimated $55.1M.
  • Horizon Kinetics Asset Management fully exited Associated Capital Group in Q4 2025, selling an estimated $27M.
  • Horizon Kinetics Asset Management's ten largest holdings make up 74% of its $7.39B portfolio in Q4 2025.
  • Horizon Kinetics Asset Management opened 3 new positions and closed 15 in Q4 2025.
  • Horizon Kinetics Asset Management's portfolio value fell 9.9% quarter-over-quarter to $7.39B.

Based on Horizon Kinetics Asset Management's 13F filing for Q4 2025, filed 11 Feb 2026.