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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
NRK icon
151
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$912M
$1.39M 0.02%
140,575
+69,092
+97% +$685K
APYX icon
152
Apyx Medical
APYX
$171M
$1.38M 0.02%
615,000
– –
GOOGL icon
153
Alphabet (Google) Class A
GOOGL
$4.33T
$1.38M 0.02%
7,822
+2,992
+62% +$490K
BNT
154
Brookfield Wealth Solutions
BNT
$12.2B
$1.34M 0.02%
32,622
-195
-0.6% -$7.22K
EOG icon
155
EOG Resources
EOG
$70.7B
$1.27M 0.02%
10,593
+300
+3% +$34.3K
RMT
156
Royce Micro-Cap Trust
RMT
$761M
$1.27M 0.02%
136,840
– –
BATRA icon
157
Atlanta Braves Holdings Series A
BATRA
$3.43B
$1.26M 0.02%
25,667
-734
-3% -$32.5K
JFR icon
158
Nuveen Floating Rate Income Fund
JFR
$1.25B
$1.22M 0.01%
143,818
– –
LIN icon
159
Linde
LIN
$226B
$1.2M 0.01%
2,555
-195
-7% -$89K
MCD icon
160
McDonald's
MCD
$195B
$1.18M 0.01%
4,046
– –
PCH
161
DELISTED
PotlatchDeltic
PCH
$1.16M 0.01%
30,157
-1,113
-4% -$43.7K
VXF icon
162
Vanguard Extended Market ETF
VXF
$31.7B
$1.15M 0.01%
5,963
+406
+7% +$72.1K
GLD icon
163
SPDR Gold Trust
GLD
$141B
$1.14M 0.01%
3,755
+19
+0.5% +$5.75K
ADI icon
164
Analog Devices
ADI
$190B
$1.13M 0.01%
4,751
– –
PFL
165
PIMCO Income Strategy Fund
PFL
$388M
$1.12M 0.01%
134,825
-661
-0.5% -$5.45K
IBM icon
166
IBM
IBM
$224B
$1.11M 0.01%
3,770
+120
+3% +$30.9K
BNY
167
Bank of New York Mellon
BNY
$107B
$1.1M 0.01%
12,064
– –
MYI icon
168
BlackRock MuniYield Quality Fund III
MYI
$721M
$1.09M 0.01%
104,299
+59,445
+133% +$624K
GDXJ icon
169
VanEck Junior Gold Miners ETF
GDXJ
$8.46B
$1.09M 0.01%
16,088
-4,462
-22% -$282K
SIRI icon
170
SiriusXM
SIRI
$10.1B
$1.08M 0.01%
47,065
-5,846
-11% -$126K
NVO
171
Novo Nordisk
NVO
$209B
$1.08M 0.01%
15,598
-118
-0.8% -$8.03K
NEM icon
172
Newmont
NEM
$119B
$1.06M 0.01%
18,261
-1,222
-6% -$65.2K
SVXY icon
173
ProShares Short VIX Short-Term Futures ETF
SVXY
$206M
$1.04M 0.01%
24,344
– –
RQI icon
174
Cohen & Steers Quality Income Realty Fund
RQI
$1.69B
$1.01M 0.01%
81,227
+3,000
+4% +$36.5K
QCOM icon
175
Qualcomm
QCOM
$176B
$1.01M 0.01%
6,333
+651
+11% +$95.8K
5 6
7
8 9

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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.