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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
-1.05%
1 Year Est. Return
+27.52%
3 Year Est. Return
+184.83%
5 Year Est. Return
+256.84%
10 Year Est. Return
–
AUM
$8.43B
AUM Growth
-$382M
Cap. Flow
+$187M
Cap. Flow %
2.22%
Top 10 Hldgs %
77.21%
Holding
363
New
17
Increased
101
Reduced
145
Closed
11

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$112M
2
HE icon
Hawaiian Electric Industries
HE
+$37.8M
3
GLXY
Galaxy Digital Inc
GLXY
+$27.7M
4
PBT
Permian Basin Royalty Trust
PBT
+$18.1M
5
ARIS
Aris Water Solutions
ARIS
+$15.6M

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$21.5M
2
CACI icon
CACI
CACI
+$12.4M
3
GBTC icon
Grayscale Bitcoin Trust
GBTC
+$11.3M
4
MSTR icon
Strategy Inc
MSTR
+$5.83M
5
AN icon
AutoNation
AN
+$3.38M

Sector Composition

Rank Sector Weight
1 Energy 54.42%
2 Materials 7.69%
3 Financials 7.42%
4 Utilities 2.67%
5 Consumer Discretionary 2.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ABBV icon
76
AbbVie
ABBV
$435B
$4.4M 0.05%
23,710
-447
-2% -$83.1K
INFL icon
77
Horizon Kinetics Inflation Beneficiaries ETF
INFL
$1.53B
$4.34M 0.05%
102,956
+4,610
+5% +$190K
KLAC icon
78
KLA
KLAC
$259B
$4.28M 0.05%
47,760
-110
-0.2% -$8.28K
EXP icon
79
Eagle Materials
EXP
$6.57B
$4.07M 0.05%
20,161
-2,261
-10% -$487K
LHX icon
80
L3Harris
LHX
$53.4B
$4.03M 0.05%
16,050
– –
CSCO icon
81
Cisco
CSCO
$479B
$3.93M 0.05%
56,641
– –
NTR icon
82
Nutrien
NTR
$30.7B
$3.86M 0.05%
66,245
+670
+1% +$37.9K
FWONA icon
83
Liberty Media Series A
FWONA
$23.6B
$3.82M 0.05%
40,236
-634
-2% -$53.6K
NEA icon
84
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.42B
$3.71M 0.04%
339,465
-4,167
-1% -$45.2K
MO icon
85
Altria Group
MO
$114B
$3.7M 0.04%
63,147
-50
-0.1% -$2.94K
BSM icon
86
Black Stone Minerals
BSM
$3B
$3.51M 0.04%
268,638
– –
CRL icon
87
Charles River Laboratories
CRL
$12.8B
$3.38M 0.04%
22,260
-12,026
-35% -$1.6M
IRM icon
88
Iron Mountain
IRM
$36.1B
$3.33M 0.04%
32,455
– –
FNF icon
89
Fidelity National Financial
FNF
$13.5B
$3.28M 0.04%
58,461
+390
+0.7% +$22.8K
NVDA icon
90
NVIDIA
NVDA
$5.42T
$3.27M 0.04%
20,710
-1,350
-6% -$170K
LLY icon
91
Eli Lilly
LLY
$1.06T
$3.2M 0.04%
4,106
-151
-4% -$117K
EMR icon
92
Emerson Electric
EMR
$88.3B
$3.16M 0.04%
23,692
+230
+1% +$26.4K
BUR icon
93
Burford Capital
BUR
$971M
$3.03M 0.04%
212,489
-53,617
-20% -$701K
CMRE icon
94
Costamare
CMRE
$1.77B
$3.02M 0.04%
331,100
+9,460
+3% +$84.2K
CAT icon
95
Caterpillar
CAT
$387B
$3M 0.04%
7,729
-189
-2% -$63K
AMLP icon
96
Alerian MLP ETF
AMLP
$12.8B
$3M 0.04%
61,357
+27
+0% +$1.31K
JNJ icon
97
Johnson & Johnson
JNJ
$625B
$2.95M 0.04%
19,302
-310
-2% -$47.7K
RTX icon
98
RTX Corp
RTX
$301B
$2.93M 0.03%
20,099
-420
-2% -$56K
SU icon
99
Suncor Energy
SU
$70.3B
$2.92M 0.03%
77,944
– –
CVX icon
100
Chevron
CVX
$366B
$2.84M 0.03%
19,867
-379
-2% -$53.4K
2 3
4
5 6

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Horizon Kinetics Asset Management's Q2 2025 Portfolio in Review

As of Q2 2025, Horizon Kinetics Asset Management held 363 positions worth $8.43B, down 4.3% from $8.81B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Horizon Kinetics Asset Management's Q2 2025 filing shows 17 new, 101 increased, 145 reduced and 11 closed positions. Its largest new stake was Cheniere Energy: 484,912 shares worth $118M. The largest sale was Texas Pacific Land, an estimated $21.5M.

By sector, the portfolio is most concentrated in Energy at 54% of assets, down from 63% a quarter earlier, followed by Materials and Financials.

  • Horizon Kinetics Asset Management's largest Q2 2025 buy was Cheniere Energy: 484,912 shares worth $118M.
  • Horizon Kinetics Asset Management added most to Hawaiian Electric Industries in Q2 2025, an estimated $37.8M increase.
  • Horizon Kinetics Asset Management's biggest Q2 2025 reduction was Texas Pacific Land, cutting an estimated $21.5M.
  • Horizon Kinetics Asset Management fully exited iShares Russell 2000 ETF in Q2 2025, selling an estimated $590K.
  • Horizon Kinetics Asset Management's ten largest holdings make up 77% of its $8.43B portfolio in Q2 2025.
  • Horizon Kinetics Asset Management opened 17 new positions and closed 11 in Q2 2025.
  • Horizon Kinetics Asset Management's portfolio value fell 4.3% quarter-over-quarter to $8.43B.

Based on Horizon Kinetics Asset Management's 13F filing for Q2 2025, filed 12 Aug 2025.