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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
+0.47%
1 Year Est. Return
+27.52%
3 Year Est. Return
+184.83%
5 Year Est. Return
+256.84%
10 Year Est. Return
–
AUM
$8.2B
AUM Growth
-$230M
Cap. Flow
-$39.8M
Cap. Flow %
-0.49%
Top 10 Hldgs %
74.96%
Holding
362
New
10
Increased
52
Reduced
236
Closed
26

Top Buys

Rank Stock Value
1
WBI
WaterBridge Infrastructure LLC
WBI
+$149M
2
MIAX
Miami International Holdings
MIAX
+$50.6M
3
CME icon
CME Group
CME
+$40.6M
4
BN icon
Brookfield
BN
+$31.7M
5
HE icon
Hawaiian Electric Industries
HE
+$22.5M

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$68.8M
2
ARIS
Aris Water Solutions
ARIS
+$43.4M
3
GBTC icon
Grayscale Bitcoin Trust
GBTC
+$33.3M
4
ADM icon
Archer Daniels Midland
ADM
+$25.7M
5
SAND
Sandstorm Gold
SAND
+$25.2M

Sector Composition

Rank Sector Weight
1 Energy 51.1%
2 Materials 9.34%
3 Financials 8.71%
4 Consumer Discretionary 2.59%
5 Utilities 2.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VZ icon
276
Verizon
VZ
$196B
$263K ﹤0.01%
5,973
-1,020
-15% -$44.2K
PNI
277
PIMCO New York Municipal Income Fund II
PNI
$77.7M
$262K ﹤0.01%
+37,634
New +$251K
NAN icon
278
Nuveen New York Quality Municipal Income Fund
NAN
$373M
$257K ﹤0.01%
22,488
-17,281
-43% -$194K
T icon
279
AT&T
T
$163B
$257K ﹤0.01%
9,092
-3,030
-25% -$86K
NTLA icon
280
Intellia Therapeutics
NTLA
$1.67B
$249K ﹤0.01%
14,396
+604
+4% +$7.44K
AWK icon
281
American Water Works
AWK
$26.9B
$240K ﹤0.01%
1,723
-107
-6% -$15.1K
CL icon
282
Colgate-Palmolive
CL
$74.4B
$238K ﹤0.01%
2,978
-124
-4% -$10.6K
BEAM icon
283
Beam Therapeutics
BEAM
$2.84B
$233K ﹤0.01%
+9,597
New +$191K
LLYVA icon
284
Liberty Live Group Series A
LLYVA
$9.09B
$232K ﹤0.01%
2,459
-715
-23% -$62.9K
EFR
285
Eaton Vance Senior Floating-Rate Fund
EFR
$317M
$229K ﹤0.01%
20,001
-7,800
-28% -$91.9K
MOV icon
286
Movado Group
MOV
$841M
$228K ﹤0.01%
12,000
-4,573
-28% -$79.3K
GALT icon
287
Galectin Therapeutics
GALT
$348M
$228K ﹤0.01%
53,742
+2,258
+4% +$8.49K
GEHC icon
288
GE HealthCare
GEHC
$32.4B
$224K ﹤0.01%
2,989
-87
-3% -$6.49K
BA icon
289
Boeing
BA
$185B
$223K ﹤0.01%
1,033
+27
+3% +$6.09K
KRBN icon
290
KraneShares Global Carbon Strategy ETF
KRBN
$133M
$221K ﹤0.01%
6,834
-2,652
-28% -$82.4K
CNS icon
291
Cohen & Steers
CNS
$4.3B
$220K ﹤0.01%
3,349
-292
-8% -$21.4K
NOC icon
292
Northrop Grumman
NOC
$81.2B
$219K ﹤0.01%
+360
New +$204K
IQI icon
293
Invesco Quality Municipal Securities
IQI
$534M
$218K ﹤0.01%
22,115
– –
AXP icon
294
American Express
AXP
$230B
$218K ﹤0.01%
655
– –
NEE icon
295
NextEra Energy
NEE
$177B
$216K ﹤0.01%
+2,860
New +$209K
CQP icon
296
Cheniere Energy
CQP
$31.3B
$215K ﹤0.01%
4,000
– –
TMO icon
297
Thermo Fisher Scientific
TMO
$220B
$212K ﹤0.01%
+438
New +$204K
MOD icon
298
Modine Manufacturing
MOD
$10.4B
$210K ﹤0.01%
1,480
-2,450
-62% -$312K
SMR icon
299
NuScale Power
SMR
$4.03B
$207K ﹤0.01%
5,750
-7,200
-56% -$287K
LMT icon
300
Lockheed Martin
LMT
$136B
$203K ﹤0.01%
407
-55
-12% -$25K
10 11
12
13 14

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Horizon Kinetics Asset Management's Q3 2025 Portfolio in Review

As of Q3 2025, Horizon Kinetics Asset Management held 362 positions worth $8.2B, down 2.7% from $8.43B the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Horizon Kinetics Asset Management's Q3 2025 filing shows 10 new, 52 increased, 236 reduced and 26 closed positions. Its largest new stake was WaterBridge Infrastructure LLC: 6,354,306 shares worth $160M. The largest sale was Texas Pacific Land, an estimated $68.8M.

By sector, the portfolio is most concentrated in Energy at 51% of assets, down from 54% a quarter earlier, followed by Materials and Financials.

  • Horizon Kinetics Asset Management's largest Q3 2025 buy was WaterBridge Infrastructure LLC: 6,354,306 shares worth $160M.
  • Horizon Kinetics Asset Management added most to CME Group in Q3 2025, an estimated $40.6M increase.
  • Horizon Kinetics Asset Management's biggest Q3 2025 reduction was Texas Pacific Land, cutting an estimated $68.8M.
  • Horizon Kinetics Asset Management fully exited Sitio Royalties in Q3 2025, selling an estimated $16.9M.
  • Horizon Kinetics Asset Management's ten largest holdings make up 75% of its $8.2B portfolio in Q3 2025.
  • Horizon Kinetics Asset Management opened 10 new positions and closed 26 in Q3 2025.
  • Horizon Kinetics Asset Management's portfolio value fell 2.7% quarter-over-quarter to $8.2B.

Based on Horizon Kinetics Asset Management's 13F filing for Q3 2025, filed 14 Nov 2025.