Horizon Kinetics Asset Management LLC
Net buyer this quarter
$8.82B
314
+$143M
77.5%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 TPL | $4.29B | 48.64% | 14.21% | -2.1% | Q1 2019 |
 GBTC | $553M | 6.27% | 6.26% | -13.3% | Q4 2022 |
| LB | $461M | 5.23% | 25.03% | +2.9% | Q2 2024 |
 HE | $303M | 3.44% | 12.97% | +3.5% | Q4 2024 |
 MIAX | $291M | 3.30% | 7.95% | +127.2% | Q3 2025 |
 WBI | $262M | 2.97% | Not reported | +4.2% | Q3 2025 |
 WPM | $189M | 2.15% | 0.37% | -4.2% | Q1 2019 |
| PBT | $169M | 1.91% | Not reported | +5.5% | Q1 2019 |
 FNV | $161M | 1.83% | 0.40% | +2.1% | Q1 2019 |
 BTC | $157M | 1.79% | 5.06% | +102.0% | Q3 2024 |
 ICE | $121M | 1.37% | 0.18% | +17.4% | Q1 2019 |
 CBOE | $101M | 1.14% | 0.40% | +1.1% | Q1 2019 |
 LNG | $96.1M | 1.09% | 0.19% | -4.4% | Q1 2019 |
 MSB | $81.5M | 0.92% | 24.54% | +2.5% | Q1 2019 |
 CVEO | $80.2M | 0.91% | 20.83% | -2.6% | Q1 2019 |
 CACI | $71.2M | 0.81% | 0.70% | -0.6% | Q1 2019 |
 CCJ | $71.1M | 0.81% | 0.16% | +7.0% | Q2 2023 |
| VNOM | $70.1M | 0.79% | Not reported | -0.6% | Q1 2019 |
 BN | $67.6M | 0.77% | Not reported | +1.0% | Q4 2022 |
 CME | $62.7M | 0.71% | 0.09% | +5.0% | Q1 2019 |
 OR | $60.6M | 0.69% | 1.02% | +9.2% | Q2 2025 |
 WHK | $43.2M | 0.49% | Not reported | New | Q2 2026 |
 AN | $39.6M | 0.45% | 0.64% | -5.4% | Q1 2019 |
 TRC | $37.6M | 0.43% | 7.45% | +5.7% | Q3 2021 |
 JOE | $37.1M | 0.42% | 1.04% | +9.2% | Q1 2021 |
 EROK | $35.8M | 0.41% | Not reported | New | Q2 2026 |
| HKHC | $35.5M | 0.40% | 5.77% | Not reported | Q4 2024 |
 GLXY | $33.8M | 0.38% | 1236051.00% | -1.2% | Q2 2025 |
 BG | $30.3M | 0.34% | 0.15% | -15.7% | Q1 2022 |
 IBIT | $27.9M | 0.32% | 0.06% | +5.5% | Q1 2024 |
 SII | $26.1M | 0.30% | 0.90% | +12.2% | Q3 2020 |
 WTM | $25.3M | 0.29% | 0.51% | -6.9% | Q1 2019 |
 PAG | $24.9M | 0.28% | 0.21% | -2.4% | Q1 2019 |
 RBA | $24.6M | 0.28% | 0.11% | +13.2% | Q2 2023 |
 SJT | $24.1M | 0.27% | Not reported | +7.4% | Q4 2022 |
 MRSH | $23.3M | 0.26% | 0.03% | -7.5% | Q1 2021 |
 DMLP | $21.5M | 0.24% | 1.77% | -0.9% | Q2 2019 |
 RPRX | $19.3M | 0.22% | 0.09% | +1.2% | Q1 2021 |
 BRK.B | $18.6M | 0.21% | Not reported | -2.1% | Q1 2019 |
 LYV | $18.5M | 0.21% | 0.04% | -35.7% | Q1 2019 |
 TFPM | $15.2M | 0.17% | 0.25% | +22.6% | Q1 2023 |
 IPAR | $14.6M | 0.17% | 0.41% | -5.8% | Q1 2019 |
 OSK | $13.6M | 0.15% | 0.14% | -23.3% | Q2 2020 |
 RCL | $12.5M | 0.14% | 0.01% | -23.8% | Q1 2019 |
 CCL | $12.2M | 0.14% | 0.03% | -55.3% | Q1 2019 |
 MSTR | $11.3M | 0.13% | Not reported | -6.8% | Q3 2020 |
 TW | $9.74M | 0.11% | 97740.00% | +1750.1% | Q4 2023 |
 WMB | $9.57M | 0.11% | 0.01% | -7.0% | Q1 2019 |
 MSGS | $9.33M | 0.11% | 0.09% | -0.5% | Q1 2019 |
 RGLD | $9.2M | 0.10% | 0.05% | -2.3% | Q1 2019 |
| Q1 2026 | |||||
| TPL | $4.75B | 51.49% | 14.52% | -3.1% | Q1 2019 |
| GBTC | $739M | 8.00% | 7.02% | -0.8% | Q4 2022 |
| LB | $391M | 4.23% | 24.33% | +0.3% | Q2 2024 |
| HE | $321M | 3.48% | 12.53% | +11.6% | Q4 2024 |
| WPM | $231M | 2.50% | 0.39% | -29.4% | Q1 2019 |
| WBI | $197M | 2.13% | Not reported | +7.4% | Q3 2025 |
| FNV | $187M | 2.03% | 0.39% | -21.8% | Q1 2019 |
| PBT | $137M | 1.49% | Not reported | +3.1% | Q1 2019 |
| MIAX | $134M | 1.46% | 3.66% | +89.7% | Q3 2025 |
| ICE | $132M | 1.43% | 0.15% | +1.0% | Q1 2019 |
| LNG | $119M | 1.29% | 0.20% | -9.3% | Q1 2019 |
| CBOE | $115M | 1.25% | 0.39% | +0.4% | Q1 2019 |
| MSB | $98.9M | 1.07% | 23.94% | +3.7% | Q1 2019 |
| BTC | $90.1M | 0.98% | 2.64% | +0.3% | Q3 2024 |
| CACI | $84.1M | 0.91% | 0.70% | -2.5% | Q1 2019 |
| CME | $79.8M | 0.86% | 0.08% | -1.9% | Q1 2019 |
| VNOM | $78.1M | 0.85% | Not reported | -3.1% | Q1 2019 |
| CCJ | $70.8M | 0.77% | 0.15% | -3.3% | Q2 2023 |
| OR | $66.7M | 0.72% | 0.94% | -3.4% | Q2 2025 |
| BN | $63.6M | 0.69% | Not reported | -0.7% | Q4 2022 |
| CVEO | $62.2M | 0.67% | 21.50% | -4.0% | Q1 2019 |
| AN | $43.9M | 0.48% | 0.66% | -12.3% | Q1 2019 |
| BG | $42.9M | 0.46% | 0.17% | -3.5% | Q1 2022 |
| TRC | $35.8M | 0.39% | 7.05% | -0.5% | Q3 2021 |
| HKHC | $35.5M | 0.38% | 5.77% | 0.0% | Q4 2024 |
| JOE | $34.1M | 0.37% | 0.94% | -2.2% | Q1 2021 |
| SJT | $33.6M | 0.36% | Not reported | +12.0% | Q4 2022 |
| IBIT | $30.5M | 0.33% | 0.06% | -0.4% | Q1 2024 |
| SII | $29.6M | 0.32% | 0.80% | -3.6% | Q3 2020 |
| WTM | $28.8M | 0.31% | 0.53% | -0.1% | Q1 2019 |
| MRSH | $26.3M | 0.28% | 0.03% | -3.4% | Q1 2021 |
| CCL | $24.8M | 0.27% | 0.08% | 0.0% | Q1 2019 |
| LYV | $24M | 0.26% | 0.07% | -7.5% | Q1 2019 |
| DMLP | $23.3M | 0.25% | 1.78% | -1.8% | Q2 2019 |
| GLXY | $23.1M | 0.25% | 1250969.00% | +0.1% | Q2 2025 |
| PAG | $21.3M | 0.23% | 0.22% | -16.1% | Q1 2019 |
| BRK.B | $18.2M | 0.20% | Not reported | +0.1% | Q1 2019 |
| RBA | $17.9M | 0.19% | 0.10% | +73.5% | Q2 2023 |
| MSTR | $17.4M | 0.19% | Not reported | -0.1% | Q3 2020 |
| OSK | $17M | 0.18% | 0.19% | -0.4% | Q2 2020 |
| RPRX | $16.3M | 0.18% | 0.09% | -3.6% | Q1 2021 |
 DBRG | $14.5M | 0.16% | 0.51% | -69.2% | Q3 2024 |
| TFPM | $14.4M | 0.16% | 0.20% | -2.8% | Q1 2023 |
| RCL | $14.2M | 0.15% | 0.02% | -2.0% | Q1 2019 |
| IPAR | $12.6M | 0.14% | 0.43% | -0.2% | Q1 2019 |
 HHH | $12.4M | 0.13% | 0.33% | -33.1% | Q3 2023 |
| RGLD | $12M | 0.13% | 0.06% | -50.3% | Q1 2019 |
| WMB | $10.1M | 0.11% | 0.01% | +0.7% | Q1 2019 |
 MA | $9.75M | 0.11% | 0.00% | -0.3% | Q1 2019 |
| BAM | $8.43M | 0.09% | Not reported | -0.5% | Q1 2019 |
| Q4 2025 | |||||
| TPL | $2.97B | 40.14% | 14.99% | -1.7% | Q1 2019 |
| GBTC | $965M | 13.05% | 6.45% | -0.5% | Q4 2022 |
| WPM | $293M | 3.96% | 0.55% | -10.7% | Q1 2019 |
| LB | $276M | 3.74% | 24.26% | +0.2% | Q2 2024 |
| HE | $239M | 3.23% | 11.23% | +6.2% | Q4 2024 |
| FNV | $201M | 2.71% | 0.50% | -4.4% | Q1 2019 |
| WBI | $137M | 1.85% | Not reported | +7.6% | Q3 2025 |
| ICE | $135M | 1.82% | 0.15% | 0.0% | Q1 2019 |
| MSB | $117M | 1.58% | 23.08% | +1.0% | Q1 2019 |
| BTC | $116M | 1.57% | 2.75% | -0.1% | Q3 2024 |
| PBT | $105M | 1.42% | Not reported | +1.5% | Q1 2019 |
| CBOE | $103M | 1.39% | 0.39% | -0.3% | Q1 2019 |
| LNG | $90.1M | 1.22% | 0.22% | -2.0% | Q1 2019 |
| CACI | $84.5M | 1.14% | 0.72% | -1.3% | Q1 2019 |
| MIAX | $80.8M | 1.09% | 2.13% | +31.6% | Q3 2025 |
| CME | $75.3M | 1.02% | 0.08% | -0.4% | Q1 2019 |
| BN | $72.7M | 0.98% | Not reported | -36.0% | Q4 2022 |
| VNOM | $66.2M | 0.90% | Not reported | -0.4% | Q1 2019 |
| OR | $64.2M | 0.87% | 0.97% | -0.5% | Q2 2025 |
| CCJ | $61.7M | 0.83% | 0.15% | -0.3% | Q2 2023 |
| CVEO | $56M | 0.76% | 21.42% | -9.0% | Q1 2019 |
| AN | $53M | 0.72% | 0.73% | -1.1% | Q1 2019 |
| DBRG | $46.7M | 0.63% | 1.67% | -7.3% | Q3 2024 |
| IBIT | $39.6M | 0.54% | 0.06% | -3.6% | Q1 2024 |
| SJT | $35M | 0.47% | Not reported | +11.0% | Q4 2022 |
| JOE | $32.9M | 0.45% | 0.96% | -0.2% | Q1 2021 |
| BG | $31.1M | 0.42% | 0.18% | -0.3% | Q1 2022 |
| TRC | $30.2M | 0.41% | 7.11% | -0.1% | Q3 2021 |
| CCL | $29.2M | 0.40% | 0.08% | -0.4% | Q1 2019 |
| MRSH | $29.1M | 0.39% | 0.03% | -0.3% | Q1 2021 |
| GLXY | $27.9M | 0.38% | 1249554.00% | -0.3% | Q2 2025 |
| WTM | $27.3M | 0.37% | 0.53% | +0.3% | Q1 2019 |
| PAG | $26.9M | 0.36% | 0.26% | -0.4% | Q1 2019 |
| HKHC | $25.3M | 0.34% | 5.77% | 0.0% | Q4 2024 |
| LYV | $24.2M | 0.33% | 0.07% | -1.3% | Q1 2019 |
| HHH | $23.4M | 0.32% | 0.49% | -4.2% | Q3 2023 |
| MSTR | $21.2M | 0.29% | Not reported | +0.6% | Q3 2020 |
| RGLD | $21.1M | 0.29% | 0.11% | +48.7% | Q1 2019 |
| SII | $21M | 0.28% | 0.83% | -0.1% | Q3 2020 |
| DMLP | $19.6M | 0.26% | 1.81% | -1.1% | Q2 2019 |
| BRK.B | $19.1M | 0.26% | Not reported | -5.9% | Q1 2019 |
| RCL | $14.7M | 0.20% | 0.02% | -2.4% | Q1 2019 |
| OSK | $14.6M | 0.20% | 0.19% | -0.4% | Q2 2020 |
| TFPM | $14.1M | 0.19% | 0.21% | +1510.2% | Q1 2023 |
| RPRX | $13.7M | 0.18% | 0.09% | -0.4% | Q1 2021 |
| IPAR | $11.8M | 0.16% | 0.43% | -0.2% | Q1 2019 |
| MA | $11.2M | 0.15% | 0.00% | -0.3% | Q1 2019 |
| RBA | $11.1M | 0.15% | 0.06% | -1.9% | Q2 2023 |
| BAM | $9.98M | 0.13% | Not reported | -0.1% | Q1 2019 |
| WMB | $8.25M | 0.11% | 0.01% | -3.3% | Q1 2019 |
| Q3 2025 | |||||
| TPL | $3.27B | 39.89% | 15.25% | -2.0% | Q1 2019 |
| GBTC | $1.27B | 15.52% | 6.13% | -2.5% | Q4 2022 |
| WPM | $312M | 3.81% | 0.62% | -6.5% | Q1 2019 |
| LB | $300M | 3.66% | 24.22% | +2.4% | Q2 2024 |
| FNV | $226M | 2.75% | 0.53% | -3.0% | Q1 2019 |
| HE | $202M | 2.46% | 10.58% | +12.1% | Q4 2024 |
| WBI | $160M | 1.95% | Not reported | New | Q3 2025 |
| BTC | $152M | 1.85% | 2.89% | -2.3% | Q3 2024 |
| ICE | $140M | 1.71% | 0.15% | -0.1% | Q1 2019 |
| PBT | $111M | 1.36% | Not reported | +4.4% | Q1 2019 |
| LNG | $111M | 1.35% | 0.22% | -2.5% | Q1 2019 |
| CBOE | $100M | 1.22% | 0.39% | -0.8% | Q1 2019 |
| MSB | $87.8M | 1.07% | 22.86% | +1.3% | Q1 2019 |
| CACI | $80.1M | 0.98% | 0.73% | -0.6% | Q1 2019 |
| BN | $75.4M | 0.92% | Not reported | +40.6% | Q4 2022 |
| CME | $74.8M | 0.91% | 0.08% | +117.3% | Q1 2019 |
| OR | $73.1M | 0.89% | 0.98% | +0.3% | Q2 2025 |
| VNOM | $65.8M | 0.80% | Not reported | +0.6% | Q1 2019 |
| CVEO | $61.9M | 0.75% | 23.10% | -6.6% | Q1 2019 |
| AN | $56.7M | 0.69% | 0.70% | -0.9% | Q1 2019 |
| CCJ | $56.7M | 0.69% | 0.16% | +0.1% | Q2 2023 |
| MIAX | $55.7M | 0.68% | 1.70% | New | Q3 2025 |
| IBIT | $53.7M | 0.66% | 0.06% | -14.0% | Q1 2024 |
| MSTR | $44.6M | 0.54% | Not reported | -4.8% | Q3 2020 |
| GLXY | $42.4M | 0.52% | 1253870.00% | -8.1% | Q2 2025 |
| HKHC | $40.5M | 0.49% | 5.77% | +6470.7% | Q4 2024 |
| DBRG | $38.5M | 0.47% | 1.80% | -9.2% | Q3 2024 |
| SJT | $33.9M | 0.41% | Not reported | +22.2% | Q4 2022 |
| MRSH | $31.7M | 0.39% | 0.03% | +0.3% | Q1 2021 |
| TRC | $30.6M | 0.37% | 7.12% | +16.2% | Q3 2021 |
| PAG | $29.7M | 0.36% | 0.26% | -0.4% | Q1 2019 |
| BG | $28.4M | 0.35% | 0.18% | -0.4% | Q1 2022 |
| LYV | $28.1M | 0.34% | 0.07% | -44.7% | Q1 2019 |
| CCL | $27.8M | 0.34% | 0.08% | -0.8% | Q1 2019 |
| JOE | $27.5M | 0.34% | 0.96% | 0.0% | Q1 2021 |
| ACGP | $27M | 0.33% | 3.81% | -7.0% | Q1 2019 |
| HHH | $25.2M | 0.31% | 0.52% | -26.5% | Q3 2023 |
| DMLP | $22.9M | 0.28% | 1.87% | -3.4% | Q2 2019 |
| WTM | $21.9M | 0.27% | 0.51% | +19.3% | Q1 2019 |
| BRK.B | $20.3M | 0.25% | Not reported | -5.1% | Q1 2019 |
 WFG | $20.1M | 0.25% | Not reported | -2.9% | Q1 2021 |
| SII | $17.9M | 0.22% | 0.83% | +0.9% | Q3 2020 |
| RCL | $17.5M | 0.21% | 0.02% | -3.8% | Q1 2019 |
 SSL | $16M | 0.19% | Not reported | -65.0% | Q1 2019 |
| OSK | $15.1M | 0.18% | 0.18% | -6.0% | Q2 2020 |
| IPAR | $13.7M | 0.17% | 0.43% | -0.7% | Q1 2019 |
| RGLD | $12.8M | 0.16% | 0.10% | -12.5% | Q1 2019 |
| RPRX | $12.5M | 0.15% | 0.09% | +0.3% | Q1 2021 |
| RBA | $11.9M | 0.14% | 0.06% | -0.3% | Q2 2023 |
| MA | $11.2M | 0.14% | 0.00% | -1.6% | Q1 2019 |