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HORIZON KINETICS ASSET MANAGEMENT LLC
hedge fundUpdated 30 days agoManaged by Horizon Kinetics Asset Management Llc • Latest filing Q2 2026
Portfolio value
$8.8B
Q2 2026
Filings
16
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
16.5%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 16 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q3 2022 | $5B |
| Q4 2022 | $5.9B |
| Q1 2023 | $5.2B |
| Q2 2023 | $4.6B |
| Q3 2023 | $5B |
| Q4 2023 | $4.8B |
| Q1 2024 | $5.3B |
| Q2 2024 | $5.7B |
| Q3 2024 | $6.7B |
| Q4 2024 | $8B |
| Q1 2025 | $8.8B |
| Q2 2025 | $8.4B |
| Q3 2025 | $8.2B |
| Q4 2025 | $7.4B |
| Q1 2026 | $9.2B |
| Q2 2026 | $8.8B |
Top holdings
351 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | T TPL TEXAS PACIFIC LAND CORPORATI | $4.3B | 9.80M | 48.64% | Trimmed(-2.1%) |
| 2 | G GBTC GRAYSCALE BITCOIN TRUST ETF | $552.6M | 12.14M | 6.27% | Trimmed(-13.3%) |
| 3 | L LB LANDBRIDGE COMPANY LLC | $461.3M | 5.82M | 5.23% | Added(+2.9%) |
| 4 | H HE HAWAIIAN ELEC INDS INC MTN B | $303M | 22.40M | 3.44% | Added(+3.5%) |
| 5 | M MIAX MIAMI INTL HLDGS INC | $291.4M | 7.84M | 3.30% | Added(+127.2%) |
| 6 | W WBI WATERBRIDGE INFRASTRUCTURE L | $262.2M | 7.65M | 2.97% | Added(+4.2%) |
| 7 | W WPM WHEATON PRECIOUS METALS CORP | $189.5M | 1.69M | 2.15% | Trimmed(-4.2%) |
| 8 | P PBT PERMIAN BASIN RTY TR | $168.5M | 6.73M | 1.91% | Added(+5.5%) |
| 9 | F FNV FRANCO NEV CORP | $161.2M | 773.4K | 1.83% | Added(+2.1%) |
| 10 | B BTC GRAYSCALE BITCOIN MINI TR ET | $157.5M | 6.07M | 1.79% | Added(+102.0%) |
| 11 | I ICE INTERCONTINENTAL EXCHANGE IN | $121.2M | 984.7K | 1.37% | Added(+17.4%) |
| 12 | C CBOE CBOE GLOBAL MKTS INC | $100.6M | 414.6K | 1.14% | Added(+1.1%) |
| 13 | C CQP CHENIERE ENERGY INC | $96.1M | 402.0K | 1.09% | Trimmed(-4.3%) |
| 14 | M MSB MESABI TR | $81.5M | 3.22M | 0.92% | Added(+2.5%) |
| 15 | C CVEO CIVEO CORP CDA | $80.2M | 2.29M | 0.91% | Trimmed(-2.6%) |
| 16 | C CACI CACI INTL INC | $71.2M | 153.7K | 0.81% | Trimmed(-0.6%) |
| 17 | C CCJ CAMECO CORP | $71.1M | 697.7K | 0.81% | Added(+7.0%) |
| 18 | V VNOM VIPER ENERGY INC | $70.1M | 1.65M | 0.79% | Trimmed(-0.6%) |
| 19 | B BXDIF BROOKFIELD CORP | $67.6M | 1.59M | 0.77% | Added(+1.0%) |
| 20 | C CME CME GROUP INC | $62.7M | 283.8K | 0.71% | Added(+5.0%) |