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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
VTI icon
251
Vanguard Morningstar Total Stock Market ETF
VTI
$691B
$312K ﹤0.01%
930
-48
-5% -$16K
LLYVK icon
252
Liberty Live Group Series C
LLYVK
$9.46B
$311K ﹤0.01%
3,744
-2,078
-36% -$178K
AWR icon
253
American States Water
AWR
$3.46B
$308K ﹤0.01%
4,244
-224
-5% -$16.5K
KKR icon
254
KKR & Co
KKR
$92.3B
$305K ﹤0.01%
2,394
+2
+0.1% +$249
CNP icon
255
CenterPoint Energy
CNP
$26.8B
$296K ﹤0.01%
7,733
– –
PEP icon
256
PepsiCo
PEP
$190B
$293K ﹤0.01%
2,040
– –
NVIR
257
Horizon Kinetics Energy and Remediation ETF
NVIR
$4.88M
$282K ﹤0.01%
8,635
-44
-0.5% -$1.44K
CTAS icon
258
Cintas
CTAS
$81.3B
$281K ﹤0.01%
1,495
+2
+0.1% +$377
VZ icon
259
Verizon
VZ
$196B
$272K ﹤0.01%
6,671
+698
+12% +$28.3K
GPC icon
260
Genuine Parts
GPC
$18.7B
$269K ﹤0.01%
2,190
– –
WY icon
261
Weyerhaeuser
WY
$18.4B
$261K ﹤0.01%
11,026
-4,144
-27% -$95.9K
ETN icon
262
Eaton
ETN
$174B
$258K ﹤0.01%
811
+14
+2% +$4.96K
LOW icon
263
Lowe's Companies
LOW
$125B
$258K ﹤0.01%
1,068
– –
VEA icon
264
Vanguard FTSE Developed Markets ETF
VEA
$237B
$257K ﹤0.01%
+4,110
New +$252K
BEAM icon
265
Beam Therapeutics
BEAM
$2.84B
$255K ﹤0.01%
9,194
-403
-4% -$10.3K
TMO icon
266
Thermo Fisher Scientific
TMO
$220B
$254K ﹤0.01%
438
– –
AXP icon
267
American Express
AXP
$230B
$250K ﹤0.01%
675
+20
+3% +$7.16K
MOV icon
268
Movado Group
MOV
$841M
$247K ﹤0.01%
12,000
– –
AMT icon
269
American Tower
AMT
$80.4B
$246K ﹤0.01%
1,400
– –
NAN icon
270
Nuveen New York Quality Municipal Income Fund
NAN
$373M
$243K ﹤0.01%
21,550
-938
-4% -$10.8K
GEHC icon
271
GE HealthCare
GEHC
$32.4B
$239K ﹤0.01%
2,911
-78
-3% -$6.08K
T icon
272
AT&T
T
$163B
$237K ﹤0.01%
9,554
+462
+5% +$11.7K
BGC icon
273
BGC Group
BGC
$4.89B
$237K ﹤0.01%
26,562
-60,230
-69% -$542K
CL icon
274
Colgate-Palmolive
CL
$74.4B
$235K ﹤0.01%
2,978
– –
NEE icon
275
NextEra Energy
NEE
$177B
$235K ﹤0.01%
2,930
+70
+2% +$5.8K
9 10
11
12 13

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WPL
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NPT
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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.