HORIZON KINETICS ASSET MANAGEMENT LLC
Institutional investor · Portfolio as of Q2 2025
Top Holdings352 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
TEXAS PACIFIC LAND CORP | 3.6M | $3.8B | 44.8% | $168.06 | +108.60% | 15 qtrssince 2021-Q4 | Decreased 0 |
GRAYSCALE BITCOIN TRUST BTC | 14.6M | $1.2B | 14.6% | $8.36 | +906.93% | 11 qtrssince 2022-Q4 | Decreased 0 |
LANDBRIDGE COMPANY LLC | 5.5M | $371.6M | 4.4% | $26.85 | +150.82% | 5 qtrssince 2024-Q2 | Increased 57 |
WHEATON PRECIOUS METALS CORP | 3M | $268.1M | 3.2% | $42.95 | +103.34% | 15 qtrssince 2021-Q4 | Increased 57 |
HAWAIIAN ELEC INDS INC MTN B | 16.3M | $173.1M | 2.1% | $10.81 | -1.51% | 3 qtrssince 2024-Q4 | Increased 65 |
FRANCO-NEVADA CORP /CAD/ | 1M | $171.1M | 2.0% | $133.85 | +20.53% | 15 qtrssince 2021-Q4 | Increased 53 |
INTERCONTINENTALEXCHANGE GRO COM | 831,758 | $152.6M | 1.8% | $130.70 | +38.25% | 15 qtrssince 2021-Q4 | Increased 48 |
GRAYSCALE BITCOIN MINI TRUST ETF | 3.1M | $146.7M | 1.7% | $41.77 | +13.28% | 3 qtrssince 2024-Q4 | Increased 48 |
CHENIERE ENERGY INC | 484,912 | $118.1M | 1.4% | $113.27 | +112.44% | 15 qtrssince 2021-Q4 | Increased 47 |
CBOE GLOBAL MARKETS INC | 412,717 | $96.2M | 1.1% | $126.67 | +80.78% | 15 qtrssince 2021-Q4 | Decreased 0 |
CACI INTL INC | 161,672 | $77.1M | 0.9% | $270.20 | +71.49% | 15 qtrssince 2021-Q4 | Decreased 0 |
PERMIAN BASIN RTY TR | 5.8M | $72.8M | 0.9% | $13.75 | -11.12% | 15 qtrssince 2021-Q4 | Increased 56 |
BROOKFIELD CORP /CAD/ | 1.2M | $72.6M | 0.9% | $22.85 | +79.25% | 11 qtrssince 2022-Q4 | Decreased 0 |
MESABI TR CTF BEN INT | 3M | $70.9M | 0.8% | $17.42 | +33.15% | 15 qtrssince 2021-Q4 | Increased 43 |
CIVEO CORP CDA | 2.9M | $66.5M | 0.8% | $18.47 | +23.20% | 15 qtrssince 2021-Q4 | Decreased 0 |
Viper Energy, Inc. | 1.7M | $65.2M | 0.8% | $32.12 | +34.05% | 7 qtrssince 2023-Q4 | Increased 44 |
ISHARES BITCOIN TRUST | 961,927 | $58.9M | 0.7% | $42.94 | +41.40% | 6 qtrssince 2024-Q1 | Increased 46 |
STRATEGY INC | 145,499 | $58.8M | 0.7% | $163.09 | +135.38% | 15 qtrssince 2021-Q4 | Decreased 0 |
AUTONATION INC | 261,774 | $52M | 0.6% | $115.98 | +71.53% | 15 qtrssince 2021-Q4 | Decreased 0 |
CAMECO CORP | 675,700 | $50.2M | 0.6% | $38.55 | +92.18% | 9 qtrssince 2023-Q2 | Increased 44 |
HORIZON KINETICS ASSET MANAGEMENT LLC manages $8.4B across 352 positions as of Q2 2025. Top holdings: TPL (44.8%), GBTC (14.6%), LB (4.4%). Fund DNA: Concentrated Value. HoldingsIntel Rating: 4/5.0.
Active quarter - 18 new positions, 11 exits, 98 increased. Top move: HE (INCREASED, conviction 65). Portfolio: $8.4B across 352 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer