HORIZON KINETICS ASSET MANAGEMENT LLC
Institutional investor · Portfolio as of Q3 2025
Top Holdings336 positions
TEXAS PACIFIC LAND CORPORATION COM | 3.5M | $3.3B | 39.9% | $131.03 | +136.06% | 16 qtrssince 2021-Q4 | Decreased 0 |
GRAYSCALE BITCOIN TRUST ETF | 14.2M | $1.3B | 15.5% | $8.36 | +973.57% | 12 qtrssince 2022-Q4 | Decreased 0 |
WHEATON PRECIOUS METALS CORP | 2.8M | $312.3M | 3.8% | $42.84 | +159.92% | 16 qtrssince 2021-Q4 | Decreased 0 |
LANDBRIDGE COMPANY LLC CL A | 5.6M | $300.5M | 3.7% | $27.30 | +94.20% | 6 qtrssince 2024-Q2 | Increased 58 |
FRANCO NEV CORP | 1M | $225.7M | 2.8% | $133.85 | +63.69% | 16 qtrssince 2021-Q4 | Decreased 0 |
HAWAIIAN ELEC INDUSTRIES | 18.3M | $201.6M | 2.5% | $10.74 | +2.82% | 4 qtrssince 2024-Q4 | Increased 59 |
WATERBRIDGE INFRASTRUCTURE L | 6.4M | $160.3M | 2.0% | $25.09 | 0.00% | 1 qtr | New 69 |
GRAYSCALE BITCOIN MINI TRUST ETF | 3M | $151.9M | 1.9% | $41.89 | +20.86% | 4 qtrssince 2024-Q4 | Decreased 0 |
Intercontinental Exchange Inc | 831,061 | $140M | 1.7% | $128.99 | +28.89% | 16 qtrssince 2021-Q4 | Decreased 0 |
PERMIAN BASIN RTY TR UNIT BEN INT | 6.1M | $111.3M | 1.4% | $13.93 | +29.56% | 16 qtrssince 2021-Q4 | Increased 49 |
CHENIERE ENERGY INC | 472,959 | $111.1M | 1.4% | $113.27 | +105.42% | 16 qtrssince 2021-Q4 | Decreased 0 |
CBOE GLOBAL MARKETS INC | 409,459 | $100.4M | 1.2% | $127.24 | +91.87% | 16 qtrssince 2021-Q4 | Decreased 0 |
MESABI TR CTF BEN INT | 3M | $87.8M | 1.1% | $17.56 | +61.98% | 16 qtrssince 2021-Q4 | Increased 47 |
CACI INTL INC | 160,665 | $80.1M | 1.0% | $270.12 | +84.65% | 16 qtrssince 2021-Q4 | Decreased 0 |
BROOKFIELD CORP CL A LTD VT SH | 1.6M | $75.4M | 0.9% | $29.29 | +55.06% | 12 qtrssince 2022-Q4 | Increased 56 |
CME Group Inc. | 276,773 | $74.8M | 0.9% | $228.74 | +14.24% | 16 qtrssince 2021-Q4 | Increased 67 |
OR ROYALTIES INC. COM SHS | 1.8M | $73.1M | 0.9% | $25.62 | +55.60% | 2 qtrssince 2025-Q2 | Increased 42 |
VIPER ENERGY INC CL A | 1.7M | $65.8M | 0.8% | $36.09 | 0.00% | 1 qtr | New 58 |
CIVEO CORP CDA COM NEW | 2.7M | $61.9M | 0.8% | $18.47 | +22.66% | 16 qtrssince 2021-Q4 | Decreased 0 |
AUTONATION INC COM | 259,335 | $56.7M | 0.7% | $116.85 | +87.22% | 16 qtrssince 2021-Q4 | Decreased 0 |
HORIZON KINETICS ASSET MANAGEMENT LLC manages $8.2B across 336 positions as of Q3 2025. Top holdings: TPL (39.9%), GBTC (15.5%), WPM (3.8%). Fund DNA: Concentrated Value. HoldingsIntel Score: 4/5.0.
Active quarter - 11 new positions, 26 exits, 51 increased. Top move: WBI (NEW, conviction 69). Portfolio: $8.2B across 336 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
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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
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