HORIZON KINETICS ASSET MANAGEMENT LLC
CIK
1056823
Location
NEW YORK, NY
Portfolio Value
Micro
$70,806,587
Diversification
Highly concentrated
Filing Date
Global Rank
#450
/ 8,586
▲ 74
Top Industry
Oil & Gas E&P
58.2%
3Y Alpha vs SPY
+3.3%
Period ended 3 months ago
Filed May 15, 2026 · 32d
25 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+93.8%
SPY
+78.1%
Annualised alpha
+3.5%
Max drawdown
−22.2%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
305 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
52.0%
+11.4 pts
Top 5
70.3%
+5.5 pts
Top 10
78.9%
+4.5 pts
HHI
2,829
Highly concentrated+931
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Energy | 64.4% | $5,888,265,207 |
| Unclassified | 9.6% | $874,470,863 |
| Financial Services | 8.6% | $784,348,746 |
| Basic Materials | 6.9% | $629,560,411 |
| Utilities | 3.5% | $323,992,551 |
| Consumer Cyclical | 2.0% | $183,594,295 |
| Technology | 1.4% | $127,820,892 |
| Industrials | 1.2% | $108,408,455 |
| Consumer Defensive | 0.8% | $70,806,587 |
| Real Estate | 0.6% | $56,594,792 |
| Healthcare | 0.6% | $54,178,514 |
| Communication Services | 0.5% | $46,208,755 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| HE | Hawaiian Electric Industries Inc | +2,242,931 | 21,635,294 | $321,067,762 | |
| MIAX | Miami International Holdings, Inc. | +1,631,751 | 3,451,549 | $134,334,287 | |
| SJT | San Juan Basin Royalty Trust | +747,697 | 6,978,841 | $33,568,225 | |
| WBI | WaterBridge Infrastructure LLC | +504,627 | 7,342,147 | $196,696,118 | |
| FRMI | Fermi Inc. | +423,725 | 532,426 | $3,109,367 | |
| PBT | Permian Basin Royalty Trust | +191,892 | 6,379,692 | $137,290,971 | |
| MSB | Mesabi Trust | +113,274 | 3,140,972 | $98,940,618 | |
| MYI | Blackrock Muniyield Quality Fund III, Inc. | +105,895 | 207,994 | $2,186,016 | |
| LTCN | Grayscale Litecoin Trust (LTC) | +84,084 | 587,986 | $2,398,982 | |
| RBA | Rb Global Inc. | +79,104 | 186,731 | $17,898,166 | |
| MHD | Blackrock Muniholdings Fund, Inc. | +57,733 | 74,530 | $840,698 | |
| RCG | RENN Fund, Inc. | +46,116 | 912,064 | $2,991,569 | |
| ARLP | Alliance Resource Partners LP | +40,568 | 104,709 | $2,895,203 | |
| ET | Energy Transfer LP | +39,060 | 398,708 | $7,695,064 | |
| WES | Western Midstream Partners, LP | +35,659 | 169,744 | $6,988,360 | |
| NRP | Natural Resource Partners LP | +33,006 | 57,871 | $7,002,391 | |
| AB | Alliancebernstein Holding L.P. | +23,706 | 217,447 | $8,141,215 | |
| RYN | Rayonier Inc | +14,763 | 30,536 | $629,652 | |
| LB | LandBridge Co LLC | +14,368 | 5,657,134 | $390,625,102 | |
| ICE | Intercontinental Exchange, Inc. | +8,133 | 838,899 | $131,942,034 | |
| BTC | Grayscale Bitcoin Mini Trust ETF | +7,356 | 3,004,416 | $90,102,435 | |
| NAN | Nuveen New York Quality Municipal Income Fund | +3,353 | 24,903 | $277,668 | |
| OXY | Occidental Petroleum Corp /De/ | +3,273 | 8,850 | $575,250 | |
| NRK | Nuveen New York Amt-Free Quality Municipal Income Fund | +3,197 | 138,453 | $1,413,605 | |
| EPD | Enterprise Products Partners L.P. | +2,757 | 114,820 | $4,344,788 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| DBRG | DigitalBridge Group, Inc. | −2,107,153 | 939,380 | $14,485,239 | |
| WPM | Wheaton Precious Metals Corp. | −731,999 | 1,761,519 | $230,776,604 | |
| TPL | Texas Pacific Land Corp | −318,383 | 10,015,379 | $4,752,898,258 | |
| FNV | FRANCO NEVADA Corp | −210,804 | 757,297 | $187,090,223 | |
| GBTC | Grayscale Bitcoin Trust ETF | −108,711 | 14,004,882 | $738,897,574 | |
| CVEO | Civeo Corp | −97,134 | 2,352,353 | $62,243,260 | |
| HHH | Howard Hughes Holdings Inc. | −96,950 | 196,410 | $12,424,896 | |
| WEN | Wendy's Co | −90,719 | 269,177 | $1,870,780 | |
| OR | OR Royalties Inc. | −60,880 | 1,754,144 | $66,692,554 | |
| LBRT | Liberty Energy Inc. | −54,489 | 288,222 | $8,300,793 | |
| VNOM | Viper Energy, Inc. | −52,263 | 1,662,641 | $78,127,500 | |
| RGLD | Royal Gold Inc | −47,734 | 47,142 | $11,997,167 | |
| LNG | Cheniere Energy, Inc. | −43,001 | 420,328 | $119,272,273 | |
| AN | Autonation, Inc. | −31,426 | 225,053 | $43,943,848 | |
| WT | WisdomTree, Inc. | −30,421 | 168,056 | $2,446,895 | |
| PAG | Penske Automotive Group, Inc. | −27,367 | 142,507 | $21,307,646 | |
| RYAM | Rayonier Advanced Materials Inc. | −26,000 | 68,500 | $758,295 | |
| BUR | Burford Capital Ltd | −23,309 | 39,136 | $176,894 | |
| CCJ | Cameco Corp | −22,271 | 651,825 | $70,794,713 | |
| FIS | Fidelity National Information Services, Inc. | −15,950 | 4,400 | $206,404 | |
| DMLP | Dorchester Minerals, L.P. | −15,436 | 860,226 | $23,312,124 | |
| LYV | Live Nation Entertainment, Inc. | −12,715 | 157,169 | $23,969,844 | |
| RPRX | Royalty Pharma plc | −12,578 | 340,783 | $16,347,360 | |
| JOE | ST JOE Co | −12,228 | 542,609 | $34,075,845 | |
| BG | Bunge Global SA | −12,050 | 336,944 | $42,859,276 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
23 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| PAA | Plains All American Pipeline LP | 90,209 | $2,014,366 | |
| HUBB | Hubbell Inc | 3,532 | $1,733,293 | |
| GIS | General Mills Inc | 30,090 | $1,119,949 | |
| AZN | Astrazeneca PLC | 5,256 | $1,036,588 | |
| MQY | Blackrock Muniyield Quality Fund, Inc. | 82,981 | $911,131 | |
| CRCL | Circle Internet Group, Inc. | 6,932 | $661,382 | |
| SLB | Slb Limited/Nv | 7,819 | $401,818 | |
| FANG | Diamondback Energy, Inc. | 2,002 | $395,975 | |
| COP | Conocophillips | 2,811 | $371,052 | |
| GWW | W.W. Grainger, Inc. | 305 | $332,697 | |
| LMT | Lockheed Martin Corp | 507 | $306,425 | |
| PSIX | Power Solutions International, Inc. | 5,000 | $304,400 | |
| MOD | Modine Manufacturing Co | 1,380 | $299,059 | |
| PNI | Pimco New York Municipal Income Fund II | 37,634 | $257,792 | |
| BHP | BHP Group Ltd | 3,231 | $235,022 | |
| DOW | Dow Inc. | 5,481 | $228,283 | |
| LLYVA | Liberty Live Holdings, Inc. | 2,295 | $210,313 | |
| NRG | Nrg Energy, Inc. | 1,435 | $209,710 | |
| EFXT | Enerflex Ltd. | 9,990 | $208,990 | |
| COST | Costco Wholesale Corp /New | 208 | $207,257 | |
| MYN | Blackrock Muniyield New York Quality Fund, Inc. | 12,009 | $115,286 | |
| NMZ | Nuveen Municipal High Income Opportunity Fund | 10,369 | $107,630 | |
| LBRDA | Liberty Broadband Corp | 923 | $46,353 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
6 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| KKR | KKR & Co. Inc. | 2,394 | $305,187 | |
| BGC | BGC Group, Inc. | 26,562 | $237,198 | |
| ADP | Automatic Data Processing Inc | 904 | $232,535 | |
| DORM | Dorman Products, Inc. | 1,800 | $221,742 | |
| CNS | Cohen & Steers, Inc. | 3,256 | $204,411 | |
| EVLV | Evolv Technologies Holdings, Inc. | 13,500 | $96,660 | |
| No positions match the current search. | ||||
12 positions ·
$70,806,587 total
· Consumer Defensive only
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| BG |
Bunge Global SA
Consumer Defensive
|
Reduced | 336,944 | $42,859,276 | 60.53% | |
| IPAR |
Interparfums Inc
Consumer Defensive
|
Reduced | 138,333 | $12,566,169 | 17.75% | |
| ADM |
Archer-Daniels-Midland Co
Consumer Defensive
|
Reduced | 59,312 | $4,311,389 | 6.09% | |
| PM |
Philip Morris International Inc.
Consumer Defensive
|
Reduced | 19,734 | $3,262,819 | 4.61% | |
| MO |
Altria Group, Inc.
Consumer Defensive
|
Added | 38,957 | $2,570,772 | 3.63% | |
| FTLF |
Fitlife Brands, Inc.
Consumer Defensive
|
Held | 154,456 | $2,193,275 | 3.10% | |
| GIS |
General Mills Inc
Consumer Defensive
|
NEW | 30,090 | $1,119,949 | 1.58% | |
| STZ |
Constellation Brands, Inc.
Consumer Defensive
|
Held | 4,673 | $700,950 | 0.99% | |
| MDLZ |
Mondelez International, Inc.
Consumer Defensive
|
Held | 8,244 | $475,184 | 0.67% | |
| PEP |
Pepsico Inc
Consumer Defensive
|
Reduced | 1,840 | $285,733 | 0.40% | |
| CL |
Colgate Palmolive Co
Consumer Defensive
|
Held | 2,978 | $253,814 | 0.36% | |
| COST |
Costco Wholesale Corp /New
Consumer Defensive
|
NEW | 208 | $207,257 | 0.29% |