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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
-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
BMY icon
101
Bristol-Myers Squibb
BMY
$132B
$2.84M 0.03%
61,317
+1,504
+3% +$73.8K
MRK icon
102
Merck
MRK
$318B
$2.84M 0.03%
35,835
+1,761
+5% +$140K
TPH
103
DELISTED
Tri Pointe Homes
TPH
$2.75M 0.03%
86,162
-37,850
-31% -$1.16M
LVS icon
104
Las Vegas Sands
LVS
$29.6B
$2.7M 0.03%
61,993
+213
+0.3% +$8.29K
PFE icon
105
Pfizer
PFE
$153B
$2.5M 0.03%
103,183
+3,157
+3% +$73.6K
OPLN
106
Openlane
OPLN
$4.54B
$2.49M 0.03%
101,857
-5,000
-5% -$106K
FIS icon
107
Fidelity National Information Services
FIS
$22.1B
$2.42M 0.03%
29,690
-750
-2% -$58.4K
BAC icon
108
Bank of America
BAC
$442B
$2.41M 0.03%
50,833
+1,883
+4% +$79.2K
EQT icon
109
EQT Corp
EQT
$32.3B
$2.34M 0.03%
40,082
+1,678
+4% +$90.5K
RCG
110
RENN Fund
RCG
$21M
$2.34M 0.03%
878,123
+77,134
+10% +$199K
TD icon
111
Toronto Dominion Bank
TD
$200B
$2.29M 0.03%
31,225
-25
-0.1% -$1.63K
WT icon
112
WisdomTree
WT
$3.22B
$2.29M 0.03%
198,772
-2,321
-1% -$21.7K
SPHR icon
113
Sphere Entertainment
SPHR
$5.73B
$2.25M 0.03%
53,825
-8,380
-13% -$284K
BATRK icon
114
Atlanta Braves Holdings Series B
BATRK
$3.21B
$2.19M 0.03%
46,861
-823
-2% -$33.7K
VRSK icon
115
Verisk Analytics
VRSK
$25B
$2.18M 0.03%
7,000
– –
WPC icon
116
W.P. Carey
WPC
$16.4B
$2.17M 0.03%
34,750
– –
VRT icon
117
Vertiv
VRT
$105B
$2.16M 0.03%
16,835
+695
+4% +$67.6K
CRAI icon
118
CRA International
CRAI
$1.06B
$2.16M 0.03%
11,516
-78
-0.7% -$13.9K
NAD icon
119
Nuveen Quality Municipal Income Fund
NAD
$2.78B
$2.15M 0.03%
190,361
+52,244
+38% +$586K
HON icon
120
Honeywell
HON
$78B
$2.11M 0.03%
9,635
-424
-4% -$85.8K
SAN icon
121
Banco Santander
SAN
$210B
$2.11M 0.03%
254,260
+3,750
+1% +$27.9K
PTEN icon
122
Patterson-UTI
PTEN
$3.76B
$2.02M 0.02%
340,750
-4,280
-1% -$25.8K
FTLF icon
123
FitLife Brands
FTLF
$94.2M
$2.01M 0.02%
154,456
– –
ROK icon
124
Rockwell Automation
ROK
$49B
$2M 0.02%
6,015
– –
GDLC
125
Grayscale CoinDesk Crypto 5 ETF
GDLC
$359M
$1.97M 0.02%
41,029
– –
3 4
5
6 7

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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.