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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
+37.23%
1 Year Est. Return
+23.05%
3 Year Est. Return
+192.13%
5 Year Est. Return
+221.88%
10 Year Est. Return
–
AUM
$9.23B
AUM Growth
+$1.84B
Cap. Flow
-$237M
Cap. Flow %
-2.57%
Top 10 Hldgs %
78.23%
Holding
367
New
43
Increased
88
Reduced
152
Closed
14

Top Buys

Rank Stock Value
1
MIAX
Miami International Holdings
MIAX
+$67.2M
2
HE icon
Hawaiian Electric Industries
HE
+$33.9M
3
WBI
WaterBridge Infrastructure LLC
WBI
+$12M
4
RBA icon
RB Global
RBA
+$8.39M
5
BOXX icon
Alpha Architect 1-3 Month Box ETF
BOXX
+$5.49M

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$137M
2
WPM icon
Wheaton Precious Metals
WPM
+$102M
3
FNV icon
Franco-Nevada
FNV
+$52.2M
4
DBRG icon
DigitalBridge
DBRG
+$32.4M
5
RGLD icon
Royal Gold
RGLD
+$12.7M

Sector Composition

Rank Sector Weight
1 Energy 63.78%
2 Financials 7.83%
3 Materials 6.82%
4 Utilities 3.51%
5 Consumer Discretionary 1.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SJT
26
San Juan Basin Royalty Trust
SJT
$129M
$33.6M 0.36%
6,978,841
+747,697
+12% +$4.1M
IBIT icon
27
iShares Bitcoin Trust
IBIT
$47.2B
$30.5M 0.33%
793,343
-3,520
-0.4% -$152K
SII
28
Sprott
SII
$3.03B
$29.6M 0.32%
206,997
-7,629
-4% -$1.02M
WTM icon
29
White Mountains Insurance
WTM
$5.11B
$28.8M 0.31%
13,112
-9
-0.1% -$19.3K
MRSH
30
Marsh
MRSH
$90B
$26.3M 0.28%
151,341
-5,344
-3% -$961K
CCL icon
31
Carnival Corporation Ltd
CCL
$38.9B
$24.8M 0.27%
957,653
+105
+0% +$3.06K
LYV icon
32
Live Nation Entertainment
LYV
$43.3B
$24M 0.26%
157,169
-12,715
-7% -$1.93M
DMLP icon
33
Dorchester Minerals
DMLP
$1.35B
$23.3M 0.25%
860,226
-15,436
-2% -$393K
GLXY
34
Galaxy Digital Inc
GLXY
$4.07B
$23.1M 0.25%
1,250,969
+1,415
+0.1% +$33.6K
PAG icon
35
Penske Automotive Group
PAG
$14.4B
$21.3M 0.23%
142,507
-27,367
-16% -$4.33M
BRK.B icon
36
Berkshire Hathaway Class B
BRK.B
$1.09T
$18.2M 0.2%
38,033
+45
+0.1% +$22.1K
RBA icon
37
RB Global
RBA
$16B
$17.9M 0.19%
186,731
+79,104
+73% +$8.39M
MSTR icon
38
Strategy Inc
MSTR
$38.2B
$17.4M 0.19%
139,253
-124
-0.1% -$17.7K
OSK icon
39
Oshkosh
OSK
$9.41B
$17M 0.18%
115,789
-404
-0.3% -$63K
VUSB icon
40
Vanguard Ultra-Short Bond ETF
VUSB
$9.34B
$16.9M 0.18%
339,054
-3,488
-1% -$174K
RPRX icon
41
Royalty Pharma
RPRX
$26.1B
$16.3M 0.18%
340,783
-12,578
-4% -$551K
DBRG icon
42
DigitalBridge
DBRG
$2.94B
$14.5M 0.16%
939,380
-2,107,153
-69% -$32.4M
TFPM icon
43
Triple Flag Precious Metals
TFPM
$6.45B
$14.4M 0.16%
413,430
-11,873
-3% -$430K
RCL icon
44
Royal Caribbean
RCL
$82.9B
$14.2M 0.15%
51,698
-1,060
-2% -$316K
IPAR icon
45
Interparfums
IPAR
$3.7B
$12.6M 0.14%
138,333
-225
-0.2% -$21.3K
HHH icon
46
Howard Hughes
HHH
$4.04B
$12.4M 0.13%
196,410
-96,950
-33% -$7.27M
RGLD icon
47
Royal Gold
RGLD
$19.1B
$12M 0.13%
47,142
-47,734
-50% -$12.7M
WMB icon
48
Williams Companies
WMB
$89.3B
$10.1M 0.11%
138,301
+980
+0.7% +$67.9K
MA icon
49
Mastercard
MA
$497B
$9.75M 0.11%
19,516
-63
-0.3% -$33.2K
BAM icon
50
Brookfield Asset Management
BAM
$89.2B
$8.43M 0.09%
189,571
-902
-0.5% -$44.1K
1
2
3 4 5

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AI
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Horizon Kinetics Asset Management's Q1 2026 Portfolio in Review

As of Q1 2026, Horizon Kinetics Asset Management held 367 positions worth $9.23B, up 25% from $7.39B the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Horizon Kinetics Asset Management's Q1 2026 filing shows 43 new, 88 increased, 152 reduced and 14 closed positions. Its largest new stake was Alpha Architect 1-3 Month Box ETF: 47,475 shares worth $5.52M. The largest sale was Texas Pacific Land, an estimated $137M.

By sector, the portfolio is most concentrated in Energy at 64% of assets, up from 52% a quarter earlier, followed by Financials and Materials.

  • Horizon Kinetics Asset Management's largest Q1 2026 buy was Alpha Architect 1-3 Month Box ETF: 47,475 shares worth $5.52M.
  • Horizon Kinetics Asset Management added most to Miami International Holdings in Q1 2026, an estimated $67.2M increase.
  • Horizon Kinetics Asset Management's biggest Q1 2026 reduction was Texas Pacific Land, cutting an estimated $137M.
  • Horizon Kinetics Asset Management fully exited PotlatchDeltic in Q1 2026, selling an estimated $933K.
  • Horizon Kinetics Asset Management's ten largest holdings make up 78% of its $9.23B portfolio in Q1 2026.
  • Horizon Kinetics Asset Management opened 43 new positions and closed 14 in Q1 2026.
  • Horizon Kinetics Asset Management's portfolio value rose 25% quarter-over-quarter to $9.23B.

Based on Horizon Kinetics Asset Management's 13F filing for Q1 2026, filed 15 May 2026.