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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
+12.14%
1 Year Est. Return
+27.52%
3 Year Est. Return
+184.83%
5 Year Est. Return
+256.84%
10 Year Est. Return
–
AUM
$8.81B
AUM Growth
+$782M
Cap. Flow
-$7.67M
Cap. Flow %
-0.09%
Top 10 Hldgs %
80.59%
Holding
356
New
7
Increased
90
Reduced
124
Closed
9

Top Buys

Rank Stock Value
1
HE icon
Hawaiian Electric Industries
HE
+$104M
2
ARIS
Aris Water Solutions
ARIS
+$35M
3
VUSB icon
Vanguard Ultra-Short Bond ETF
VUSB
+$11.2M
4
LB
LandBridge Co
LB
+$6.2M
5
FNV icon
Franco-Nevada
FNV
+$4.02M

Top Sells

Rank Stock Value
1
CACI icon
CACI
CACI
+$65M
2
SAIC icon
Saic
SAIC
+$38.3M
3
GBTC icon
Grayscale Bitcoin Trust
GBTC
+$34.8M
4
TPL icon
Texas Pacific Land
TPL
+$15.4M
5
DBRG icon
DigitalBridge
DBRG
+$10.9M

Sector Composition

Rank Sector Weight
1 Energy 62.8%
2 Materials 6.67%
3 Financials 6.43%
4 Consumer Discretionary 2.29%
5 Utilities 2.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ETHE
326
Grayscale Ethereum Staking ETF Shares
ETHE
$1.54B
$102K ﹤0.01%
6,683
– –
EVM
327
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$99K ﹤0.01%
10,679
– –
TSVT
328
DELISTED
2seventy bio
TSVT
$85.3K ﹤0.01%
17,275
– –
GALT icon
329
Galectin Therapeutics
GALT
$320M
$65.6K ﹤0.01%
53,742
– –
PYN
330
DELISTED
PIMCO New York Municipal Income Fund III
PYN
$58.4K ﹤0.01%
10,355
– –
OIS icon
331
Oil States International
OIS
$524M
$58.2K ﹤0.01%
11,300
– –
VVR icon
332
Invesco Senior Income Trust
VVR
$456M
$56.9K ﹤0.01%
15,179
– –
TTI icon
333
TETRA Technologies
TTI
$1.29B
$45.7K ﹤0.01%
13,600
– –
EVLV icon
334
Evolv Technologies
EVLV
$1.08B
$42.1K ﹤0.01%
13,500
– –
HIO
335
Western Asset High Income Opportunity Fund
HIO
$339M
$40.1K ﹤0.01%
10,072
– –
EDIT icon
336
Editas Medicine
EDIT
$442M
$36.8K ﹤0.01%
31,720
– –
ALLO icon
337
Allogene Therapeutics
ALLO
$711M
$28K ﹤0.01%
19,194
– –
KEEL
338
Keel Infrastructure Corp
KEEL
$2.14B
$14.4K ﹤0.01%
18,300
– –
PACB icon
339
Pacific Biosciences
PACB
$360M
$13.6K ﹤0.01%
11,517
– –
ETH
340
Grayscale Ethereum Staking Mini ETF Shares
ETH
$1.73B
$11.5K ﹤0.01%
665
– –
MANA
341
DELISTED
MANATRON INC
MANA
$2.65K ﹤0.01%
691
– –
APLD icon
342
Applied Digital
APLD
$8.53B
– –
-23,870
Closed -$182K
AXP icon
343
American Express
AXP
$229B
– –
-700
Closed -$208K
BA icon
344
Boeing
BA
$186B
– –
-1,320
Closed -$234K
BEAM icon
345
Beam Therapeutics
BEAM
$2.83B
– –
-9,597
Closed -$238K
CMCSA icon
346
Comcast
CMCSA
$88.6B
– –
-9,066
Closed -$340K
D icon
347
Dominion Energy
D
$59B
– –
-10,750
Closed -$579K
KO icon
348
Coca-Cola
KO
$375B
– –
-5,870
Closed -$365K
MRX
349
Marex Group Limited Ordinary Shares
MRX
$4.46B
– –
-141,374
Closed -$4.41M
MUI
350
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
– –
-101,802
Closed -$1.23M
10 11 12 13
14

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SUT
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LCAM
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IAA
Independent Advisor Alliance Charlotte, North Carolina $9.32B AUM 33.19% 1-Year Est. Return
SFM
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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 Q1 2025 Portfolio in Review

As of Q1 2025, Horizon Kinetics Asset Management held 356 positions worth $8.81B, up 9.7% from $8.03B the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Trading was light in Q1 2025: portfolio turnover was 4.5%. Horizon Kinetics Asset Management opened 7 new positions and exited 9, leaving the 356-position portfolio largely intact.

By sector, the portfolio is most concentrated in Energy at 63% of assets, up from 59% a quarter earlier, followed by Materials and Financials.

  • Horizon Kinetics Asset Management's largest Q1 2025 buy was EQT Corp: 38,404 shares worth $2.05M.
  • Horizon Kinetics Asset Management added most to Hawaiian Electric Industries in Q1 2025, an estimated $104M increase.
  • Horizon Kinetics Asset Management's biggest Q1 2025 reduction was CACI, cutting an estimated $65M.
  • Horizon Kinetics Asset Management fully exited Marex Group Limited Ordinary Shares in Q1 2025, selling an estimated $4.41M.
  • Horizon Kinetics Asset Management's ten largest holdings make up 81% of its $8.81B portfolio in Q1 2025.
  • Horizon Kinetics Asset Management opened 7 new positions and closed 9 in Q1 2025.
  • Horizon Kinetics Asset Management's portfolio value rose 9.7% quarter-over-quarter to $8.81B.

Based on Horizon Kinetics Asset Management's 13F filing for Q1 2025, filed 15 May 2025.