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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
VXF icon
176
Vanguard Extended Market ETF
VXF
$31.9B
$957K 0.01%
5,557
-7,354
-57% -$1.39M
FRA icon
177
BlackRock Floating Rate Income Strategies Fund
FRA
$385M
$954K 0.01%
73,870
– –
BGC icon
178
BGC Group
BGC
$4.89B
$953K 0.01%
103,969
-41,517
-29% -$389K
SLV icon
179
iShares Silver Trust
SLV
$30.9B
$951K 0.01%
30,690
– –
AZN icon
180
AstraZeneca
AZN
$250B
$945K 0.01%
6,428
-10
-0.2% -$1.45K
NEM icon
181
Newmont
NEM
$119B
$941K 0.01%
19,483
-559
-3% -$24.5K
DGX icon
182
Quest Diagnostics
DGX
$26.3B
$939K 0.01%
5,550
-50
-0.9% -$8.21K
FHI icon
183
Federated Hermes
FHI
$4.72B
$932K 0.01%
22,862
-2,234
-9% -$87.2K
BP icon
184
BP
BP
$107B
$926K 0.01%
27,414
+100
+0.4% +$3.26K
IBM icon
185
IBM
IBM
$224B
$908K 0.01%
3,650
– –
EBAY icon
186
eBay
EBAY
$49.8B
$896K 0.01%
13,235
-102
-0.8% -$6.8K
QCOM icon
187
Qualcomm
QCOM
$176B
$873K 0.01%
5,682
-40
-0.7% -$6.52K
WY icon
188
Weyerhaeuser
WY
$18.4B
$847K 0.01%
28,936
-1,644
-5% -$48.9K
APYX icon
189
Apyx Medical
APYX
$171M
$843K 0.01%
615,000
– –
BIP icon
190
Brookfield Infrastructure Partners
BIP
$18B
$833K 0.01%
27,971
-200
-0.7% -$6.27K
GOOG icon
191
Alphabet (Google) Class C
GOOG
$4.32T
$831K 0.01%
5,317
-28
-0.5% -$5.13K
DOW icon
192
Dow Inc
DOW
$21.2B
$816K 0.01%
23,371
+9,500
+68% +$365K
GM icon
193
General Motors
GM
$76.8B
$816K 0.01%
17,343
-500
-3% -$24.6K
BRK.A icon
194
Berkshire Hathaway Class A
BRK.A
$1.12T
$798K 0.01%
1
– –
NSC icon
195
Norfolk Southern
NSC
$75.1B
$798K 0.01%
3,368
– –
MPC icon
196
Marathon Petroleum
MPC
$83.7B
$797K 0.01%
5,470
-100
-2% -$14.8K
ALNY icon
197
Alnylam Pharmaceuticals
ALNY
$29.3B
$778K 0.01%
2,880
– –
MDLZ icon
198
Mondelez International
MDLZ
$79.9B
$765K 0.01%
11,278
-500
-4% -$30.8K
ALKS icon
199
Alkermes
ALKS
$8.25B
$761K 0.01%
23,033
– –
SPY icon
200
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$748K 0.01%
1,337
-133
-9% -$78.2K
6 7
8
9 10

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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.