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Horizon Kinetics Asset Management Portfolio holdings

AUM $8.82B
1-Year Est. Return 23.05%
This Fund
S&P 500
This Quarter Est. Return
-4.52%
1 Year Est. Return
+23.05%
3 Year Est. Return
+192.13%
5 Year Est. Return
+221.88%
10 Year Est. Return
–
AUM
$8.82B
AUM Growth
-$412M
Cap. Flow
+$183M
Cap. Flow %
2.07%
Top 10 Hldgs %
77.52%
Holding
371
New
18
Increased
65
Reduced
167
Closed
20

Top Buys

Rank Stock Value
1
MIAX
Miami International Holdings
MIAX
+$196M
2
BTC
Grayscale Bitcoin Mini Trust ETF
BTC
+$97.3M
3
WHK
WhiteHawk Minerals Corp
WHK
+$42.1M
4
EROK
EagleRock Land
EROK
+$36.4M
5
ICE icon
Intercontinental Exchange
ICE
+$21.9M

Top Sells

Rank Stock Value
1
GBTC icon
Grayscale Bitcoin Trust
GBTC
+$104M
2
TPL icon
Texas Pacific Land
TPL
+$86.1M
3
DBRG icon
DigitalBridge
DBRG
+$14.5M
4
CCL icon
Carnival Corporation Ltd
CCL
+$14.5M
5
WPM icon
Wheaton Precious Metals
WPM
+$9.71M

Sector Composition

Rank Sector Weight
1 Energy 63.72%
2 Miscellaneous 9.94%
3 Financials 9.51%
4 Materials 6.09%
5 Utilities 3.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EROK
26
EagleRock Land
EROK
$649M
$35.8M 0.41%
+1,684,213
New +$36.4M
GLXY
27
Galaxy Digital Inc
GLXY
$4.51B
$33.8M 0.38%
1,236,051
-14,918
-1% -$415K
BG icon
28
Bunge Global
BG
$22.2B
$30.3M 0.34%
284,079
-52,865
-16% -$6.5M
IBIT icon
29
iShares Bitcoin Trust
IBIT
$58.6B
$27.9M 0.32%
837,308
+43,965
+6% +$1.79M
SII
30
Sprott
SII
$3.42B
$26.1M 0.3%
232,217
+25,220
+12% +$3.3M
WTM icon
31
White Mountains Insurance
WTM
$5.1B
$25.3M 0.29%
12,206
-906
-7% -$1.94M
PAG icon
32
Penske Automotive Group
PAG
$14.2B
$24.9M 0.28%
139,067
-3,440
-2% -$575K
RBA icon
33
RB Global
RBA
$15.9B
$24.6M 0.28%
211,349
+24,618
+13% +$2.59M
SJT
34
San Juan Basin Royalty Trust
SJT
$126M
$24.1M 0.27%
7,494,020
+515,179
+7% +$2.07M
MRSH
35
Marsh
MRSH
$91.9B
$23.3M 0.26%
139,983
-11,358
-8% -$1.9M
VUSB icon
36
Vanguard Ultra-Short Bond ETF
VUSB
$9.34B
$23M 0.26%
461,108
+122,054
+36% +$6.07M
DMLP icon
37
Dorchester Minerals
DMLP
$1.41B
$21.5M 0.24%
852,651
-7,575
-0.9% -$207K
RPRX icon
38
Royalty Pharma
RPRX
$27.1B
$19.3M 0.22%
344,861
+4,078
+1% +$212K
BRK.B icon
39
Berkshire Hathaway Class B
BRK.B
$1.08T
$18.6M 0.21%
37,231
-802
-2% -$386K
LYV icon
40
Live Nation Entertainment
LYV
$42.3B
$18.5M 0.21%
100,989
-56,180
-36% -$9.24M
TFPM icon
41
Triple Flag Precious Metals
TFPM
$7B
$15.2M 0.17%
506,677
+93,247
+23% +$3M
IPAR icon
42
Interparfums
IPAR
$3.77B
$14.6M 0.17%
130,333
-8,000
-6% -$755K
OSK icon
43
Oshkosh
OSK
$9.51B
$13.6M 0.15%
88,816
-26,973
-23% -$3.8M
RCL icon
44
Royal Caribbean
RCL
$74.7B
$12.5M 0.14%
39,414
-12,284
-24% -$3.43M
CCL icon
45
Carnival Corporation Ltd
CCL
$33.9B
$12.2M 0.14%
428,340
-529,313
-55% -$14.5M
MSTR icon
46
Strategy Inc
MSTR
$50.6B
$11.3M 0.13%
129,774
-9,479
-7% -$1.38M
TW icon
47
Tradeweb Markets
TW
$23B
$9.74M 0.11%
97,740
+92,457
+1,750% +$10M
WMB icon
48
Williams Companies
WMB
$90.2B
$9.57M 0.11%
128,678
-9,623
-7% -$708K
MSGS icon
49
Madison Square Garden
MSGS
$9.38B
$9.33M 0.11%
23,221
-126
-0.5% -$44.6K
RGLD icon
50
Royal Gold
RGLD
$22.3B
$9.2M 0.1%
46,068
-1,074
-2% -$250K
1
2
3 4 5

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Horizon Kinetics Asset Management's Q2 2026 Portfolio in Review

As of Q2 2026, Horizon Kinetics Asset Management held 371 positions worth $8.82B, down 4.5% from $9.23B the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Horizon Kinetics Asset Management's Q2 2026 filing shows 18 new, 65 increased, 167 reduced and 20 closed positions. Its largest new stake was WhiteHawk Minerals Corp: 1,552,705 shares worth $43.2M. The largest sale was Grayscale Bitcoin Trust, an estimated $104M.

By sector, the portfolio is most concentrated in Energy at 64% of assets, down from 64% a quarter earlier, followed by Miscellaneous and Financials.

  • Horizon Kinetics Asset Management's largest Q2 2026 buy was WhiteHawk Minerals Corp: 1,552,705 shares worth $43.2M.
  • Horizon Kinetics Asset Management added most to Miami International Holdings in Q2 2026, an estimated $196M increase.
  • Horizon Kinetics Asset Management's biggest Q2 2026 reduction was Grayscale Bitcoin Trust, cutting an estimated $104M.
  • Horizon Kinetics Asset Management fully exited Alpha Architect 1-3 Month Box ETF in Q2 2026, selling an estimated $5.52M.
  • Horizon Kinetics Asset Management's ten largest holdings make up 78% of its $8.82B portfolio in Q2 2026.
  • Horizon Kinetics Asset Management opened 18 new positions and closed 20 in Q2 2026.
  • Horizon Kinetics Asset Management's portfolio value fell 4.5% quarter-over-quarter to $8.82B.

Based on Horizon Kinetics Asset Management's 13F filing for Q2 2026, filed 11 Aug 2026.