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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
RYAM icon
151
Rayonier Advanced Materials
RYAM
$610M
$1.24M 0.01%
215,500
-200
-0.1% -$1.41K
JFR icon
152
Nuveen Floating Rate Income Fund
JFR
$1.25B
$1.22M 0.01%
143,818
– –
SIRI icon
153
SiriusXM
SIRI
$10.1B
$1.19M 0.01%
52,911
-9,218
-15% -$217K
DHR icon
154
Danaher
DHR
$144B
$1.18M 0.01%
5,744
-934
-14% -$204K
CMS icon
155
CMS Energy
CMS
$22.3B
$1.18M 0.01%
15,675
– –
GDXJ icon
156
VanEck Junior Gold Miners ETF
GDXJ
$8.46B
$1.18M 0.01%
20,550
-1,843
-8% -$92.9K
SEG
157
Seaport Entertainment Group
SEG
$362M
$1.17M 0.01%
54,456
-564
-1% -$13.8K
VRT icon
158
Vertiv
VRT
$105B
$1.17M 0.01%
16,140
+470
+3% +$50K
PFL
159
PIMCO Income Strategy Fund
PFL
$388M
$1.17M 0.01%
135,486
– –
BATRA icon
160
Atlanta Braves Holdings Series A
BATRA
$3.43B
$1.16M 0.01%
26,401
– –
RYN icon
161
Rayonier
RYN
$6.55B
$1.15M 0.01%
43,402
-14,668
-25% -$372K
RMT
162
Royce Micro-Cap Trust
RMT
$761M
$1.15M 0.01%
136,840
-375
-0.3% -$3.54K
MTA
163
Metalla Royalty & Streaming
MTA
$818M
$1.15M 0.01%
401,541
– –
BNT
164
Brookfield Wealth Solutions
BNT
$12.2B
$1.14M 0.01%
32,817
-254
-0.8% -$9.59K
AMGN icon
165
Amgen
AMGN
$222B
$1.12M 0.01%
3,597
– –
SVXY icon
166
ProShares Short VIX Short-Term Futures ETF
SVXY
$230M
$1.11M 0.01%
24,344
-1,973
-7% -$97.3K
VXX icon
167
CALL
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$147M
$1.1M 0.01%
10,000
+100
+1% +$4.63K
NVO
168
Novo Nordisk
NVO
$209B
$1.09M 0.01%
15,716
– –
GLD icon
169
SPDR Gold Trust
GLD
$142B
$1.08M 0.01%
3,736
-20
-0.5% -$5.29K
KRP icon
170
Kimbell Royalty Partners
KRP
$1.48B
$1.07M 0.01%
76,374
+466
+0.6% +$7.04K
BNY
171
Bank of New York Mellon
BNY
$107B
$1.01M 0.01%
12,064
– –
RQI icon
172
Cohen & Steers Quality Income Realty Fund
RQI
$1.69B
$983K 0.01%
78,227
+400
+0.5% +$5.08K
XES icon
173
State Street SPDR S&P Oil & Gas Equipment & Services ETF
XES
$364M
$977K 0.01%
13,686
-3,018
-18% -$233K
OIH icon
174
VanEck Oil Services ETF
OIH
$1.84B
$968K 0.01%
3,691
– –
ADI icon
175
Analog Devices
ADI
$190B
$958K 0.01%
4,751
-5
-0.1% -$1.08K
5 6
7
8 9

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LCAM
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IAA
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SFM
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WPL
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PVI
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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.