HORIZON KINETICS ASSET MANAGEMENT LLC

CIK

1056823

Location

NEW YORK, NY

Portfolio Value

Mid $8,761,624,481

Diversification

Highly concentrated

Filing Date

Global Rank

#523 / 8,700 ▼ 15

Top Industry

Oil & Gas E&P 60.0%

Period ended 2 months ago

Filed Aug 11, 2026 · 33d

26 quarters · since Mar 2020

Portfolio Concentration

309 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

49.0%

−2.6 pts

Top 5

67.3%

−2.5 pts

Top 10

78.0%

−0.3 pts

HHI

2,524

Highly concentrated−260

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Energy	64.1%	$5,619,901,491	39
Financial Services	10.3%	$898,631,111	81
Unclassified	8.7%	$758,108,196	22
Basic Materials	6.1%	$537,244,601	17
Utilities	3.5%	$308,272,156	7
Consumer Cyclical	2.1%	$181,015,374	19
Industrials	1.3%	$115,539,422	36
Technology	1.3%	$113,877,278	17
Healthcare	0.7%	$58,905,243	36
Consumer Defensive	0.7%	$58,119,518	12
Communication Services	0.6%	$56,619,947	12
Real Estate	0.6%	$55,390,144	11

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
MIAX	Miami International Holdings, Inc.	+4,390,624	7,842,173	$291,415,148
BTC	Grayscale Bitcoin Mini Trust ETF	+3,063,577	6,067,993	$157,464,418
HE	Hawaiian Electric Industries Inc	+760,103	22,395,397	$303,009,721
SJT	San Juan Basin Royalty Trust	+515,179	7,494,020	$24,055,804
BCHG	Grayscale Bitcoin Cash Trust (BCH)	+462,821	1,950,062	$2,889,991
PBT	Permian Basin Royalty Trust	+349,597	6,729,289	$168,501,396
WBI	WaterBridge Infrastructure LLC	+308,090	7,650,237	$262,173,621
FRMI	Fermi Inc.	+291,801	824,227	$7,549,919
LTCN	Grayscale Litecoin Trust (LTC)	+249,155	837,141	$2,586,765
LB	LandBridge Co LLC	+164,129	5,821,263	$461,276,880
OR	OR Royalties Inc.	+161,655	1,915,799	$60,596,722
ICE	Intercontinental Exchange, Inc.	+145,802	984,701	$121,226,540
TRC	Tejon Ranch Co	+109,083	2,011,689	$37,618,584
TFPM	Triple Flag Precious Metals Corp.	+93,247	506,677	$15,185,109
TW	Tradeweb Markets Inc.	+92,457	97,740	$9,740,768
MSB	Mesabi Trust	+78,410	3,219,382	$81,450,364
JOE	ST JOE Co	+49,999	592,608	$37,115,039
CCJ	Cameco Corp	+45,916	697,741	$71,071,898
IBIT	iShares Bitcoin Trust ETF	+43,965	837,308	$27,873,983
AB	Alliancebernstein Holding L.P.	+31,049	248,496	$8,752,029
BUR	Burford Capital Ltd	+28,976	68,112	$279,259
SII	Sprott Inc.	+25,220	232,217	$26,089,579
RBA	Rb Global Inc.	+24,618	211,349	$24,611,591
KLAC	Kla Corp	+17,697	19,855	$5,990,452
RCG	RENN Fund, Inc.	+16,954	929,018	$2,777,763
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
GBTC	Grayscale Bitcoin Trust ETF	−1,864,892	12,139,990	$552,612,344
DBRG	DigitalBridge Group, Inc.	−927,029	12,351	$194,898
CCL	Carnival Corp Ltd.	−529,313	428,340	$12,237,673
BCDF	Horizon Kinetics Blockchain Development ETF	−315,714	179,946	$5,362,390
TPL	Texas Pacific Land Corp	−212,480	9,802,899	$4,290,140,718
WEN	Wendy's Co	−160,374	108,803	$901,976
HHH	Howard Hughes Holdings Inc.	−140,910	55,500	$3,967,695
WPM	Wheaton Precious Metals Corp.	−74,616	1,686,903	$189,472,944
MYI	Blackrock Muniyield Quality Fund III, Inc.	−71,456	136,538	$1,516,937
CVEO	Civeo Corp	−61,362	2,290,991	$80,184,685
NAD	Nuveen Quality Municipal Income Fund	−56,594	105,829	$1,282,647
LYV	Live Nation Entertainment, Inc.	−56,180	100,989	$18,492,095
LBRT	Liberty Energy Inc.	−53,416	234,806	$6,149,569
BG	Bunge Global SA	−52,865	284,079	$30,319,751
NEA	Nuveen AMT-Free Quality Municipal Income Fund	−42,260	254,046	$2,982,500
MHD	Blackrock Muniholdings Fund, Inc.	−41,316	33,214	$395,246
BKKT	Bakkt, Inc.	−36,574	279,964	$2,186,518
ADM	Archer-Daniels-Midland Co	−30,670	28,642	$2,188,248
APYX	Apyx Medical Corp	−30,000	585,000	$2,626,650
OSK	Oshkosh Corp	−26,973	88,816	$13,631,479
LNG	Cheniere Energy, Inc.	−18,288	402,040	$96,091,580
GLXY	Galaxy Digital Inc.	−14,918	1,236,051	$33,793,634
AEHR	Aehr Test Systems	−14,320	7,280	$699,316
RYN	Rayonier Inc	−12,362	18,174	$386,742
RCL	Royal Caribbean Cruises Ltd	−12,284	39,414	$12,515,127
No positions match the current search.

New Positions

Positions the filer opened this quarter

12 positions

Ticker	Company	Shares	Value
WHK	WhiteHawk Minerals Corp.	1,552,705	$43,196,253
EROK	EagleRock Land, LLC	1,684,213	$35,789,526
CTRI	Centuri Holdings, Inc.	96,043	$2,904,340
AMRZ	Amrize Ltd	34,573	$1,842,740
RDW	Redwire Corp	84,100	$1,028,543
KMB	Kimberly Clark Corp	7,636	$838,203
HONA	Honeywell Aerospace Inc.	3,286	$726,468
UPS	United Parcel Service Inc	4,460	$479,450
ENB	Enbridge Inc	4,777	$258,961
DORM	Dorman Products, Inc.	1,800	$245,610
WTTR	Select Water Solutions, Inc.	10,000	$199,800
MFM	Aberdeen Municipal Income Fund	17,412	$97,855
No positions match the current search.

Sold Out

Positions the filer fully exited

23 positions

Ticker	Company	Shares	Value
BIV	Vanguard Intermediate-Term Bond ETF	344,055	$17,271,931
BNDW	Vanguard Total World Bond ETF	98,748	$5,780,707
ACES	ALPS Clean Energy ETF	106,520	$5,607,212
AAAA	Amplius Aggressive Asset Allocation ETF	47,475	$5,520,867
—		100,507	$5,226,794
PTEN	Patterson Uti Energy Inc	258,608	$2,800,724
AFK	VanEck Africa Index ETF	16,729	$2,177,179
ANEW	ProShares MSCI Transformational Changes ETF	18,228	$999,588
AAXJ	iShares MSCI All Country Asia ex Japan ETF	10,913	$687,333
ABI	VictoryShares Pioneer Asset-Based Income ETF	3,281	$619,591
ATMP	Barclays Bank PLC	10,100	$360,570
AWR	American States Water Co	4,374	$330,761
T	At&T Inc.	9,090	$263,519
NOC	Northrop Grumman Corp /De/	360	$245,606
NFLX	Netflix Inc	2,410	$231,721
DOW	Dow Inc.	5,481	$228,283
AWK	American Water Works Company, Inc.	1,671	$227,406
COST	Costco Wholesale Corp /New	208	$207,257
GEHC	GE HealthCare Technologies Inc.	2,911	$207,204
—		4,986	$46,426
CXE	Mfs High Income Municipal Trust	21,525	$0
—		33,250	$0
—		85,966	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

309 tracked positions · $8,761,624,481 total · filing declares 351 positions · $8,819,643,675 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 309 positions by value · page 1 of 7

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TPL	Texas Pacific Land Corp Energy	Reduced	9,802,899	-212,480	$4,290,140,718	−9.7%	48.97%
GBTC	Grayscale Bitcoin Trust ETF	Reduced	12,139,990	-1,864,892	$552,612,344	−25.2%	6.31%
LB	LandBridge Co LLC Energy	Added	5,821,263	+164,129	$461,276,880	+18.1%	5.26%
HE	Hawaiian Electric Industries Inc Utilities	Added	22,395,397	+760,103	$303,009,721	−5.6%	3.46%
MIAX	Miami International Holdings, Inc. Financial Services	Added	7,842,173	+4,390,624	$291,415,148	+116.9%	3.33%
WBI	WaterBridge Infrastructure LLC Energy	Added	7,650,237	+308,090	$262,173,621	+33.3%	2.99%
WPM	Wheaton Precious Metals Corp. Basic Materials	Reduced	1,686,903	-74,616	$189,472,944	−17.9%	2.16%
PBT	Permian Basin Royalty Trust Energy	Added	6,729,289	+349,597	$168,501,396	+22.7%	1.92%
FNV	FRANCO NEVADA Corp Basic Materials	Added	773,418	+16,121	$161,211,247	−13.8%	1.84%
BTC	Grayscale Bitcoin Mini Trust ETF	Added	6,067,993	+3,063,577	$157,464,418	+74.8%	1.80%
ICE	Intercontinental Exchange, Inc. Financial Services	Added	984,701	+145,802	$121,226,540	−8.1%	1.38%
CBOE	Cboe Global Markets, Inc. Financial Services	Added	414,634	+4,568	$100,619,232	−12.7%	1.15%
LNG	Cheniere Energy, Inc. Energy	Reduced	402,040	-18,288	$96,091,580	−19.4%	1.10%
MSB	Mesabi Trust Basic Materials	Added	3,219,382	+78,410	$81,450,364	−17.7%	0.93%
CVEO	Civeo Corp Consumer Cyclical	Reduced	2,290,991	-61,362	$80,184,685	+28.8%	0.92%
CACI	Caci International Inc /De/ Technology	Reduced	153,743	-905	$71,222,982	−15.3%	0.81%
CCJ	Cameco Corp Energy	Added	697,741	+45,916	$71,071,898	+0.4%	0.81%
VNOM	Viper Energy, Inc. Energy	Reduced	1,652,125	-10,516	$70,050,100	−10.3%	0.80%
BN	BROOKFIELD Corp /ON/ Financial Services	Added	1,587,339	+15,403	$67,604,768	+6.3%	0.77%
CME	Cme Group Inc. Financial Services	Added	283,774	+13,521	$62,665,812	−21.5%	0.72%
OR	OR Royalties Inc. Basic Materials	Added	1,915,799	+161,655	$60,596,722	−9.1%	0.69%
WHK	WhiteHawk Minerals Corp. Energy	NEW	1,552,705	NEW	$43,196,253	NEW	0.49%
AN	Autonation, Inc. Consumer Cyclical	Reduced	212,917	-12,136	$39,557,849	−10.0%	0.45%
TRC	Tejon Ranch Co Industrials	Added	2,011,689	+109,083	$37,618,584	+4.9%	0.43%
JOE	ST JOE Co Real Estate	Added	592,608	+49,999	$37,115,039	+8.9%	0.42%
EROK	EagleRock Land, LLC Energy	NEW	1,684,213	NEW	$35,789,526	NEW	0.41%
HKHC	Horizon Kinetics Holding Corp Financial Services	Held	1,075,416	0	$35,488,728	0.0%	0.41%
GLXY	Galaxy Digital Inc. Financial Services	Reduced	1,236,051	-14,918	$33,793,634	+46.4%	0.39%
BG	Bunge Global SA Consumer Defensive	Reduced	284,079	-52,865	$30,319,751	−29.3%	0.35%
IBIT	iShares Bitcoin Trust ETF	Added	837,308	+43,965	$27,873,983	−8.6%	0.32%
SII	Sprott Inc. Financial Services	Added	232,217	+25,220	$26,089,579	−11.8%	0.30%
WTM	White Mountains Insurance Group Ltd Financial Services	Reduced	12,206	-906	$25,307,797	−12.1%	0.29%
PAG	Penske Automotive Group, Inc. Consumer Cyclical	Reduced	139,067	-3,440	$24,886,039	+16.8%	0.28%
RBA	Rb Global Inc. Industrials	Added	211,349	+24,618	$24,611,591	+37.5%	0.28%
SJT	San Juan Basin Royalty Trust Energy	Added	7,494,020	+515,179	$24,055,804	−28.3%	0.27%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	Reduced	139,983	-11,358	$23,330,966	−11.1%	0.27%
DMLP	Dorchester Minerals, L.P. Energy	Reduced	852,651	-7,575	$21,529,437	−7.6%	0.25%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	37,232	-802	$19,378,870	+2.3%	0.22%
RPRX	Royalty Pharma plc Healthcare	Added	344,861	+4,078	$19,336,356	+18.3%	0.22%
LYV	Live Nation Entertainment, Inc. Communication Services	Reduced	100,989	-56,180	$18,492,095	−22.9%	0.21%
TFPM	Triple Flag Precious Metals Corp. Basic Materials	Added	506,677	+93,247	$15,185,109	+5.8%	0.17%
IPAR	Interparfums Inc Consumer Defensive	Reduced	130,333	-8,000	$14,579,049	+16.0%	0.17%
OSK	Oshkosh Corp Industrials	Reduced	88,816	-26,973	$13,631,479	−20.0%	0.16%
RCL	Royal Caribbean Cruises Ltd Consumer Cyclical	Reduced	39,414	-12,284	$12,515,127	−12.0%	0.14%
CCL	Carnival Corp Ltd. Consumer Cyclical	Reduced	428,340	-529,313	$12,237,673	−50.6%	0.14%
MSTR	Strategy Inc Technology	Reduced	129,774	-9,479	$11,281,253	−35.1%	0.13%
FWONA	Liberty Media Corp Communication Services	Reduced	106,454	-8,628	$9,897,479	+3.7%	0.11%
TW	Tradeweb Markets Inc. Financial Services	Added	97,740	+92,457	$9,740,768	+1467.1%	0.11%
WMB	Williams Companies, Inc. Energy	Reduced	128,678	-9,623	$9,565,922	−5.0%	0.11%
MSGS	Madison Square Garden Sports Corp. Communication Services	Reduced	23,221	-126	$9,331,126	+24.4%	0.11%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.