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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
+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
BSM icon
76
Black Stone Minerals
BSM
$3B
$4.1M 0.05%
268,638
-7,000
-3% -$105K
INFL icon
77
Horizon Kinetics Inflation Beneficiaries ETF
INFL
$1.53B
$4M 0.05%
98,346
+3,079
+3% +$123K
TPH
78
DELISTED
Tri Pointe Homes
TPH
$3.96M 0.04%
124,012
– –
NEA icon
79
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.42B
$3.85M 0.04%
343,632
-1
-0% -$11
MO icon
80
Altria Group
MO
$114B
$3.79M 0.04%
63,197
– –
FNF icon
81
Fidelity National Financial
FNF
$13.5B
$3.78M 0.04%
58,071
+5
+0% +$300
BCDF icon
82
Horizon Kinetics Blockchain Development ETF
BCDF
$23.8M
$3.68M 0.04%
131,939
+9,796
+8% +$275K
BMY icon
83
Bristol-Myers Squibb
BMY
$132B
$3.65M 0.04%
59,813
-663
-1% -$38.6K
LLY icon
84
Eli Lilly
LLY
$1.06T
$3.52M 0.04%
4,257
– –
BUR icon
85
Burford Capital
BUR
$971M
$3.52M 0.04%
266,106
-76,844
-22% -$1.08M
CSCO icon
86
Cisco
CSCO
$479B
$3.5M 0.04%
56,641
– –
CVX icon
87
Chevron
CVX
$366B
$3.39M 0.04%
20,246
+600
+3% +$93.9K
LHX icon
88
L3Harris
LHX
$53.4B
$3.36M 0.04%
16,050
-405
-2% -$84.9K
FWONA icon
89
Liberty Media Series A
FWONA
$23.6B
$3.33M 0.04%
40,870
-3,948
-9% -$336K
NTR icon
90
Nutrien
NTR
$30.7B
$3.26M 0.04%
65,575
-1,451
-2% -$74.2K
KLAC icon
91
KLA
KLAC
$259B
$3.25M 0.04%
47,870
-370
-0.8% -$26.7K
JNJ icon
92
Johnson & Johnson
JNJ
$625B
$3.25M 0.04%
19,612
+10
+0.1% +$1.56K
AMLP icon
93
Alerian MLP ETF
AMLP
$13.1B
$3.19M 0.04%
61,330
+273
+0.4% +$14K
CMRE icon
94
Costamare
CMRE
$1.77B
$3.16M 0.04%
321,640
+40
+0% +$441
MRK icon
95
Merck
MRK
$318B
$3.06M 0.03%
34,074
+500
+1% +$46.7K
SU icon
96
Suncor Energy
SU
$70.3B
$3.02M 0.03%
77,944
– –
KMI icon
97
Kinder Morgan
KMI
$68.7B
$2.98M 0.03%
104,408
+772
+0.7% +$21.4K
BKKT icon
98
Bakkt Inc
BKKT
$337M
$2.91M 0.03%
335,752
-32,175
-9% -$550K
PTEN icon
99
Patterson-UTI
PTEN
$3.76B
$2.84M 0.03%
345,030
-2,512
-0.7% -$21.1K
IRM icon
100
Iron Mountain
IRM
$36.1B
$2.79M 0.03%
32,455
-445
-1% -$42.9K
2 3
4
5 6

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IAA
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WPL
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NPT
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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.