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Horizon Kinetics Asset Management Portfolio holdings

AUM $9.23B
1-Year Est. Return 27.52%
This Fund
S&P 500
This Quarter Est. Return
-1.05%
1 Year Est. Return
+27.52%
3 Year Est. Return
+184.83%
5 Year Est. Return
+256.84%
10 Year Est. Return
–
AUM
$8.43B
AUM Growth
-$382M
Cap. Flow
+$187M
Cap. Flow %
2.22%
Top 10 Hldgs %
77.21%
Holding
363
New
17
Increased
101
Reduced
145
Closed
11

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$112M
2
HE icon
Hawaiian Electric Industries
HE
+$37.8M
3
GLXY
Galaxy Digital Inc
GLXY
+$27.7M
4
PBT
Permian Basin Royalty Trust
PBT
+$18.1M
5
ARIS
Aris Water Solutions
ARIS
+$15.6M

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$21.5M
2
CACI icon
CACI
CACI
+$12.4M
3
GBTC icon
Grayscale Bitcoin Trust
GBTC
+$11.3M
4
MSTR icon
Strategy Inc
MSTR
+$5.83M
5
AN icon
AutoNation
AN
+$3.38M

Sector Composition

Rank Sector Weight
1 Energy 54.42%
2 Materials 7.69%
3 Financials 7.42%
4 Utilities 2.67%
5 Consumer Discretionary 2.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MQT
251
DELISTED
BlackRock MuniYield Quality Fund II
MQT
$424K 0.01%
43,950
+4,371
+11% +$42K
KKR icon
252
KKR & Co
KKR
$92.3B
$423K 0.01%
3,178
-2,180
-41% -$255K
PHYS icon
253
Sprott Physical Gold
PHYS
$15.7B
$422K 0.01%
16,634
+13
+0.1% +$327
MKTX icon
254
MarketAxess Holdings
MKTX
$5.72B
$419K 0.01%
1,874
+380
+25% +$83.5K
NFLX icon
255
Netflix
NFLX
$309B
$416K ﹤0.01%
3,110
– –
NBB icon
256
Nuveen Taxable Municipal Income Fund
NBB
$453M
$413K ﹤0.01%
26,130
-80
-0.3% -$1.24K
DBL
257
DoubleLine Opportunistic Credit Fund
DBL
$280M
$412K ﹤0.01%
26,820
-1,416
-5% -$21.9K
PNF
258
DELISTED
PIMCO New York Municipal Income Fund
PNF
$412K ﹤0.01%
58,956
– –
AMG icon
259
Affiliated Managers Group
AMG
$9.76B
$410K ﹤0.01%
2,085
– –
NBH
260
Neuberger Municipal Fund Inc
NBH
$304M
$408K ﹤0.01%
41,529
– –
AVGO icon
261
Broadcom
AVGO
$2.04T
$399K ﹤0.01%
+1,448
New +$314K
MOD icon
262
Modine Manufacturing
MOD
$10.4B
$387K ﹤0.01%
+3,930
New +$351K
BWXT icon
263
BWX Technologies
BWXT
$15.6B
$384K ﹤0.01%
2,665
– –
BIIB icon
264
Biogen
BIIB
$30.7B
$382K ﹤0.01%
3,038
-131
-4% -$16.3K
M icon
265
Macy's
M
$6.68B
$379K ﹤0.01%
32,500
+1,000
+3% +$11.6K
REGN icon
266
Regeneron Pharmaceuticals
REGN
$80.8B
$370K ﹤0.01%
705
-30
-4% -$16.7K
DORM icon
267
Dorman Products
DORM
$4.18B
$368K ﹤0.01%
3,000
– –
FMN
268
Federated Hermes Premier Municipal Income Fund
FMN
$87.5M
$366K ﹤0.01%
34,360
– –
ERII icon
269
Energy Recovery
ERII
$443M
$363K ﹤0.01%
+28,440
New +$385K
VTI icon
270
Vanguard Morningstar Total Stock Market ETF
VTI
$684B
$359K ﹤0.01%
1,182
-120
-9% -$33.8K
AMZN icon
271
Amazon
AMZN
$2.96T
$358K ﹤0.01%
1,634
+509
+45% +$101K
AMT icon
272
American Tower
AMT
$80.4B
$354K ﹤0.01%
1,600
– –
T icon
273
AT&T
T
$163B
$351K ﹤0.01%
12,122
+30
+0.2% +$827
PEP icon
274
PepsiCo
PEP
$190B
$349K ﹤0.01%
2,640
+367
+16% +$49.4K
AWR icon
275
American States Water
AWR
$3.46B
$343K ﹤0.01%
4,468
– –
9 10
11
12 13

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NPT
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Horizon Kinetics Asset Management's Q2 2025 Portfolio in Review

As of Q2 2025, Horizon Kinetics Asset Management held 363 positions worth $8.43B, down 4.3% from $8.81B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Horizon Kinetics Asset Management's Q2 2025 filing shows 17 new, 101 increased, 145 reduced and 11 closed positions. Its largest new stake was Cheniere Energy: 484,912 shares worth $118M. The largest sale was Texas Pacific Land, an estimated $21.5M.

By sector, the portfolio is most concentrated in Energy at 54% of assets, down from 63% a quarter earlier, followed by Materials and Financials.

  • Horizon Kinetics Asset Management's largest Q2 2025 buy was Cheniere Energy: 484,912 shares worth $118M.
  • Horizon Kinetics Asset Management added most to Hawaiian Electric Industries in Q2 2025, an estimated $37.8M increase.
  • Horizon Kinetics Asset Management's biggest Q2 2025 reduction was Texas Pacific Land, cutting an estimated $21.5M.
  • Horizon Kinetics Asset Management fully exited iShares Russell 2000 ETF in Q2 2025, selling an estimated $590K.
  • Horizon Kinetics Asset Management's ten largest holdings make up 77% of its $8.43B portfolio in Q2 2025.
  • Horizon Kinetics Asset Management opened 17 new positions and closed 11 in Q2 2025.
  • Horizon Kinetics Asset Management's portfolio value fell 4.3% quarter-over-quarter to $8.43B.

Based on Horizon Kinetics Asset Management's 13F filing for Q2 2025, filed 12 Aug 2025.