AI Portfolio Summary
In 2025 Q4, HORIZON KINETICS ASSET MANAGEMENT LLC maintained a portfolio of 339 distinct positions. They heavily accumulated shares in TEXAS PACIFIC LAND C, increasing their position by 194.9%. The fund also reduced its exposure to WHEATON PRECIOUS MET by 10.7%.
Total Positions
339
Quarter
2025 Q4
Top Holding
TPL (40.1%)
Top 10 Concentration
73.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 339
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
TPL
TEXAS PACIFIC L...
|
Energy | 40.14% | 39.89% |
#1
Prev: #1
|
9.0 | 6,829,070 | 194.9% |
P
S
|
10,333,762 | $2,968,063,138 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GBTC
GRAYSCALE BITCO...
|
ETF | 13.05% | 15.52% |
#2
Prev: #2
|
6.0 | -67,607 | -0.5% |
P
S
|
14,113,593 | $964,805,217 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WPM
WHEATON PRECIOU...
|
Basic Materials | 3.96% | 3.81% |
#3
Prev: #3
|
3.1 | -298,594 | -10.7% |
P
S
|
2,493,518 | $293,038,236 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LB
LANDBRIDGE COMP...
|
Energy | 3.74% | 3.66% |
#4
Prev: #4
|
2.5 | 10,653 | 0.2% |
P
S
|
5,642,766 | $276,439,101 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
HE
HAWAIIAN ELEC I...
|
Utilities | 3.23% | 2.46% |
#5
1
Prev: #6
|
3.8 | 1,134,646 | 6.2% |
P
S
|
19,392,363 | $238,526,064 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FNV
FRANCO NEV CORP
|
Basic Materials | 2.71% | 2.75% |
#6
1
Prev: #5
|
1.6 | -44,261 | -4.4% |
P
S
|
968,101 | $200,667,895 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WB
WATERBRIDGE INF...
|
Communication Services | 1.85% | 1.95% |
#7
Prev: #7
|
2.7 | 483,214 | 7.6% |
P
S
|
6,837,520 | $136,818,775 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ICE
INTERCONTINENTA...
|
Financial Services | 1.82% | 1.71% |
#8
1
Prev: #9
|
1.2 | -295 | -0.0% |
P
S
|
830,766 | $134,550,786 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MSB
MESABI TR
|
Bond/Debt | 1.58% | 1.07% |
#9
4
Prev: #13
|
1.1 | 28,372 | 0.9% |
P
S
|
3,027,698 | $116,626,909 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BTC
GRAYSCALE BITCO...
|
Unknown | 1.57% | 1.85% |
#10
2
Prev: #8
|
1.1 | -3,407 | -0.1% |
P
S
|
2,997,060 | $116,076,135 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PBT
PERMIAN BASIN R...
|
Bond/Debt | 1.42% | 1.36% |
#11
1
Prev: #10
|
1.1 | 88,751 | 1.5% |
P
S
|
6,187,800 | $105,068,849 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CBOE
CBOE GLOBAL MKT...
|
Financial Services | 1.39% | 1.22% |
#12
Prev: #12
|
1.1 | -1,061 | -0.3% |
P
S
|
408,398 | $102,507,805 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LNG
CHENIERE ENERGY...
|
Energy | 1.22% | 1.35% |
#13
2
Prev: #11
|
1.0 | -9,630 | -2.0% |
P
S
|
463,329 | $90,066,554 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CACI
CACI INTL INC
|
Technology | 1.14% | 0.98% |
#14
Prev: #14
|
1.0 | -2,074 | -1.3% |
P
S
|
158,591 | $84,498,870 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MIAX
MIAMI INTL HLDG...
|
Financial Services | 1.09% | 0.68% |
#15
7
Prev: #22
|
2.9 | 437,395 | 31.6% |
P
S
|
1,819,798 | $80,762,635 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CME
CME GROUP INC
|
Financial Services | 1.02% | 0.91% |
#16
Prev: #16
|
0.9 | -1,162 | -0.4% |
P
S
|
275,611 | $75,263,913 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BN
BROOKFIELD CORP
|
Financial Services | 0.98% | 0.92% |
#17
2
Prev: #15
|
0.9 | -65,561 | -4.0% |
P
S
|
1,583,710 | $72,676,441 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VNOM
VIPER ENERGY IN...
|
Energy | 0.90% | 0.80% |
#18
Prev: #18
|
0.9 | -7,023 | -0.4% |
P
S
|
1,714,904 | $66,246,755 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
OR
OR ROYALTIES IN...
|
Basic Materials | 0.87% | 0.89% |
#19
2
Prev: #17
|
0.8 | -8,626 | -0.5% |
P
S
|
1,815,024 | $64,233,692 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CCJ
CAMECO CORP
|
Energy | 0.83% | 0.69% |
#20
1
Prev: #21
|
0.8 | -1,936 | -0.3% |
P
S
|
674,096 | $61,673,009 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CVEO
CIVEO CORP CDA
|
Consumer Cyclical | 0.76% | 0.75% |
#21
2
Prev: #19
|
0.8 | -240,979 | -9.0% |
P
S
|
2,449,487 | $56,019,763 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AN
AUTONATION INC
|
Consumer Cyclical | 0.72% | 0.69% |
#22
2
Prev: #20
|
0.8 | -2,856 | -1.1% |
P
S
|
256,479 | $52,957,816 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
DBRG
DIGITALBRIDGE G...
|
Financial Services | 0.63% | 0.47% |
#23
4
Prev: #27
|
0.8 | -239,864 | -7.3% |
P
S
|
3,046,533 | $46,733,814 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IBIT
ISHARES BITCOIN...
|
Bond/Debt | 0.54% | 0.66% |
#24
1
Prev: #23
|
0.7 | -30,038 | -3.6% |
P
S
|
796,863 | $39,564,247 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SJT
SAN JUAN BASIN ...
|
Bond/Debt | 0.47% | 0.41% |
#25
3
Prev: #28
|
2.2 | 619,163 | 11.0% |
P
S
|
6,231,144 | $35,019,029 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
JOE
ST JOE CO
|
Real Estate | 0.45% | 0.34% |
#26
9
Prev: #35
|
0.7 | -892 | -0.2% |
P
S
|
554,837 | $32,940,645 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BG
BUNGE GLOBAL SA
|
Consumer Defensive | 0.42% | 0.35% |
#27
5
Prev: #32
|
0.7 | -1,089 | -0.3% |
P
S
|
348,994 | $31,088,428 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TRC
TEJON RANCH CO
|
Industrials | 0.41% | 0.37% |
#28
2
Prev: #30
|
0.7 | -1,405 | -0.1% |
P
S
|
1,912,573 | $30,161,276 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CCL
CARNIVAL CORP
|
Consumer Cyclical | 0.40% | 0.34% |
#29
5
Prev: #34
|
0.7 | -4,186 | -0.4% |
P
S
|
957,548 | $29,243,515 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MMC
MARSH & MCLENNA...
|
Financial Services | 0.39% | 0.39% |
#30
1
Prev: #29
|
0.7 | -534 | -0.3% |
P
S
|
156,685 | $29,068,196 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GLXY
GALAXY DIGITAL ...
|
Financial Services | 0.38% | 0.52% |
#31
6
Prev: #25
|
0.7 | -4,316 | -0.3% |
P
S
|
1,249,554 | $27,940,027 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WTM
WHITE MTNS INS ...
|
Financial Services | 0.37% | 0.27% |
#32
7
Prev: #39
|
0.6 | 37 | 0.3% |
P
S
|
13,121 | $27,265,835 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PAG
PENSKE AUTOMOTI...
|
Consumer Cyclical | 0.36% | 0.36% |
#33
2
Prev: #31
|
0.6 | -736 | -0.4% |
P
S
|
169,874 | $26,889,319 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
HKHC
HORIZON KINETIC...
|
Financial Services | 0.34% | 0.49% |
#34
8
Prev: #26
|
0.6 | 152 | 0.0% |
P
S
|
1,075,313 | $25,269,855 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LYV
LIVE NATION ENT...
|
Communication Services | 0.33% | 0.34% |
#35
2
Prev: #33
|
0.6 | -2,228 | -1.3% |
P
S
|
169,884 | $24,208,470 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
HHH
HOWARD HUGHES H...
|
Real Estate | 0.32% | 0.31% |
#36
1
Prev: #37
|
0.6 | -12,888 | -4.2% |
P
S
|
293,360 | $23,401,327 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MSTR
STRATEGY INC
|
Technology | 0.29% | 0.54% |
#37
13
Prev: #24
|
0.6 | 889 | 0.6% |
P
S
|
139,377 | $21,178,335 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RGLD
ROYAL GOLD INC
|
Basic Materials | 0.29% | 0.16% |
#38
10
Prev: #48
|
2.6 | 31,056 | 48.7% |
P
S
|
94,876 | $21,089,964 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SII
SPROTT INC
|
Financial Services | 0.28% | 0.22% |
#39
3
Prev: #42
|
0.6 | -188 | -0.1% |
P
S
|
214,626 | $21,016,201 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
DMLP
DORCHESTER MINE...
|
Energy | 0.26% | 0.28% |
#40
2
Prev: #38
|
0.6 | -9,953 | -1.1% |
P
S
|
875,662 | $19,579,813 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BRK/B
BERKSHIRE HATHA...
|
Financial Services | 0.26% | 0.25% |
#41
1
Prev: #40
|
0.6 | -2,361 | -5.9% |
P
S
|
37,988 | $19,094,667 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VUSB
VANGUARD BD IND...
|
ETF | 0.23% | 0.16% |
#42
5
Prev: #47
|
2.6 | 78,720 | 29.8% |
P
S
|
342,542 | $17,072,293 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RCL
ROYAL CARIBBEAN...
|
Consumer Cyclical | 0.20% | 0.21% |
#43
Prev: #43
|
0.6 | -1,275 | -2.4% |
P
S
|
52,758 | $14,715,337 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
OSK
OSHKOSH CORP
|
Industrials | 0.20% | 0.18% |
#44
1
Prev: #45
|
0.6 | -507 | -0.4% |
P
S
|
116,193 | $14,597,381 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TFPM
TRIPLE FLAG PRE...
|
Basic Materials | 0.19% | 0.01% |
#45
145
Prev: #190
|
3.1 | 398,890 | 1510.2% |
P
S
|
425,303 | $14,128,571 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RPRX
ROYALTY PHARMA ...
|
Healthcare | 0.18% | 0.15% |
#46
3
Prev: #49
|
0.6 | -1,324 | -0.4% |
P
S
|
353,361 | $13,653,874 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IPAR
INTERPARFUMS IN...
|
Consumer Defensive | 0.16% | 0.17% |
#47
1
Prev: #46
|
0.6 | -259 | -0.2% |
P
S
|
138,558 | $11,753,845 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MA
MASTERCARD INCO...
|
Financial Services | 0.15% | 0.14% |
#48
3
Prev: #51
|
0.6 | -51 | -0.3% |
P
S
|
19,579 | $11,176,998 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RBA
RB GLOBAL INC
|
Industrials | 0.15% | 0.14% |
#49
1
Prev: #50
|
0.6 | -2,069 | -1.9% |
P
S
|
107,627 | $11,071,549 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BAM
BROOKFIELD ASSE...
|
Financial Services | 0.13% | 0.13% |
#50
3
Prev: #53
|
0.6 | -174 | -0.1% |
P
S
|
190,473 | $9,978,906 | 1999 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-50 of 339 holdings