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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
BAM icon
51
Brookfield Asset Management
BAM
$83.8B
$11M 0.12%
226,411
-7,949
-3% -$433K
MA icon
52
Mastercard
MA
$493B
$10.8M 0.12%
19,630
+339
+2% +$185K
WMB icon
53
Williams Companies
WMB
$86.1B
$10.3M 0.12%
172,665
-225
-0.1% -$12.9K
RPRX icon
54
Royalty Pharma
RPRX
$25.3B
$10.3M 0.12%
329,570
+10,394
+3% +$329K
SII
55
Sprott
SII
$3.03B
$8.93M 0.1%
198,915
+6,449
+3% +$278K
FWONK icon
56
Liberty Media Series C
FWONK
$25.8B
$8.78M 0.1%
97,530
-1,643
-2% -$152K
SBR
57
Sabine Royalty Trust
SBR
$1.05B
$8.01M 0.09%
118,281
+8,360
+8% +$557K
SPGI icon
58
S&P Global
SPGI
$120B
$7.91M 0.09%
15,570
-2,424
-13% -$1.24M
NDAQ icon
59
Nasdaq
NDAQ
$52.9B
$7.84M 0.09%
103,343
+97
+0.1% +$7.63K
ET icon
60
Energy Transfer Partners
ET
$69.3B
$7.61M 0.09%
409,166
+97,442
+31% +$1.9M
LBRDK icon
61
Liberty Broadband Class C
LBRDK
$5.15B
$7.29M 0.08%
85,732
-1,354
-2% -$109K
ELS icon
62
Equity Lifestyle Properties
ELS
$12.6B
$6.71M 0.08%
100,528
-4,407
-4% -$294K
XOM icon
63
ExxonMobil
XOM
$634B
$6.48M 0.07%
54,459
+30
+0.1% +$3.32K
PM icon
64
Philip Morris
PM
$295B
$6.08M 0.07%
38,294
– –
MSGS icon
65
Madison Square Garden
MSGS
$9.39B
$5.88M 0.07%
30,183
-78
-0.3% -$16.1K
SAIC icon
66
Saic
SAIC
$5.35B
$5.83M 0.07%
51,922
-354,773
-87% -$38.3M
FCX icon
67
Freeport-McMoran
FCX
$97.5B
$5.39M 0.06%
142,497
+900
+0.6% +$34.4K
CRL icon
68
Charles River Laboratories
CRL
$12.8B
$5.16M 0.06%
34,286
-25,554
-43% -$4.28M
ABBV icon
69
AbbVie
ABBV
$435B
$5.06M 0.06%
24,157
-1,891
-7% -$368K
EXP icon
70
Eagle Materials
EXP
$6.57B
$4.98M 0.06%
22,422
-7,527
-25% -$1.78M
MSFT icon
71
Microsoft
MSFT
$3.71T
$4.73M 0.05%
12,597
-176
-1% -$71.8K
MKL icon
72
Markel Group
MKL
$23.2B
$4.67M 0.05%
2,496
-9
-0.4% -$16.6K
EPD icon
73
Enterprise Products Partners
EPD
$81.7B
$4.51M 0.05%
132,087
+1,335
+1% +$44.5K
AB icon
74
AllianceBernstein
AB
$3.47B
$4.44M 0.05%
115,986
+44,699
+63% +$1.68M
BX icon
75
Blackstone
BX
$110B
$4.22M 0.05%
30,200
– –
1 2
3
4 5

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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.