Funds › Horizon Kinetics Asset Management LLC
Horizon Kinetics Asset Management LLC
13F for Q3 2026, filed Nov 12, 2026. 347 positions worth $7.9B.Managers with more than $100 million in US-listed stocks list their holdings each quarter, within 45 days of quarter end. Long positions only: no short sales or cash.
Latest report
Q3 2026
filed Nov 12, 2026
Reported value
$7.9B
−$878.2M (10.0%) vs Q2 2026
Positions
347
350 in Q2 2026
Top 10 share
74.5%
of reported value
CheckedEach line's price per share is checked against other managers' reports of the same stock. Unit mix-ups are corrected. Reports no fix can rescue are left out.
Clean
prices match other managers' reports
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Holdings, Q3 2026
Largest first. Common shares only; puts and calls are under All positions.
| # | The fund's own figures at the end of the quarter. A report can be up to 45 days old when it is filed. Options and bonds are not counted here. | Filing | ||||
|---|---|---|---|---|---|---|
| 1 | TPL Texas Pacific Land Corporation | 9.69M | $3.2B | 39.8% | -1.1% | 13F ↗ |
| 2 | BTC Grayscale Bitcoin Mini Trust | 19.43M | $718.0M | 9.0% | +220% | 13F ↗ |
| 3 | LB LandBridge Corporation | 5.84M | $473.9M | 6.0% | +0.3% | 13F ↗ |
| 4 | GBTC Grayscale Bitcoin Trust · Shs Rep Com Ut | 4.27M | $276.0M | 3.5% | -64.8% | 13F ↗ |
| 5 | MIAX Miami International Holdings, Inc. | 7.71M | $258.2M | 3.3% | -1.7% | 13F ↗ |
| 6 | WBI WaterBridge Infrastructure LLC | 7.75M | $217.8M | 2.7% | +1.2% | 13F ↗ |
| 7 | PBT Permian Basin Royalty Trust · Units | 6.81M | $214.5M | 2.7% | +1.3% | 13F ↗ |
| 8 | WPM Wheaton Precious Metals Corp | 1.60M | $214.3M | 2.7% | -5.0% | 13F ↗ |
| 9 | HE Hawaiian Electric Industries, Inc. | 22.42M | $200.5M | 2.5% | +0.1% | 13F ↗ |
| 10 | FNV Franco-Nevada Corporation | 770,675 | $183.5M | 2.3% | -0.4% | 13F ↗ |
| 11 | ICE Intercontinental Exchange Inc. | 1.02M | $154.4M | 1.9% | +3.1% | 13F ↗ |
| 12 | CBOE Cboe Global Markets, Inc. | 415,990 | $114.5M | 1.4% | +0.3% | 13F ↗ |
| 13 | LNG Cheniere Energy, Inc. | 400,889 | $107.9M | 1.4% | -0.3% | 13F ↗ |
| 14 | CACI CACI International, Inc. | 135,255 | $82.4M | 1.0% | -12.0% | 13F ↗ |
| 15 | CME CME Group Inc. | 279,851 | $73.3M | 0.9% | -1.4% | 13F ↗ |
| 16 | CVEO Civeo Corporation | 2.21M | $72.5M | 0.9% | -3.5% | 13F ↗ |
| 17 | OR OR Royalties Inc. | 1.96M | $67.2M | 0.8% | +2.2% | 13F ↗ |
| 18 | MSB Mesabi Trust · Ctf Ben Int | 3.28M | $64.3M | 0.8% | +1.9% | 13F ↗ |
| 19 | CCJ Cameco Corporation | 712,400 | $61.7M | 0.8% | +2.1% | 13F ↗ |
| 20 | BN Brookfield Corporation | 1.59M | $58.0M | 0.7% | +0.2% | 13F ↗ |
| 21 | AN AutoNation, Inc. | 289,361 | $45.6M | 0.6% | +35.9% | 13F ↗ |
| 22 | WHK WhiteHawk Minerals Corp | 1.84M | $45.0M | 0.6% | +18.4% | 13F ↗ |
| 23 | VNOM Viper Energy, Inc. | 1.06M | $42.4M | 0.5% | -35.7% | 13F ↗ |
| 24 | IBIT iShares Bitcoin Trust ETF · Shs Ben Int | 843,066 | $39.9M | 0.5% | +0.7% | 13F ↗ |
| 25 | JOE St. Joe Company | 599,164 | $39.4M | 0.5% | +1.1% | 13F ↗ |
| 26 | EROK EagleRock Land, LLC | 1.71M | $35.7M | 0.4% | +1.8% | 13F ↗ |
| 27 | TRC Tejon Ranch Co | 2.04M | $33.1M | 0.4% | +1.3% | 13F ↗ |
| 28 | BG Bunge Global SA | 289,385 | $30.9M | 0.4% | +1.9% | 13F ↗ |
| 29 | SJT San Juan Basin Royalty Trust · Units | 7.92M | $28.9M | 0.4% | +5.7% | 13F ↗ |
| 30 | SII Sprott Inc. | 237,058 | $28.3M | 0.4% | +2.1% | 13F ↗ |
| 31 | GLXY Galaxy Digital Inc. | 1.21M | $27.4M | 0.3% | -2.4% | 13F ↗ |
| 32 | RBA RB Global, Inc. | 316,548 | $25.8M | 0.3% | +49.8% | 13F ↗ |
| 33 | TW Tradeweb Markets Inc. | 254,450 | $25.7M | 0.3% | +160% | 13F ↗ |
| 34 | Horizon Kinetics Holding Corp Hkhc | 1.08M | $24.6M | 0.3% | Unchanged | 13F ↗ |
| 35 | PAG Penske Automotive Group, Inc. | 122,585 | $24.6M | 0.3% | -11.9% | 13F ↗ |
| 36 | MRSH Marsh & McLennan Companies, Inc. | 143,285 | $24.5M | 0.3% | +2.4% | 13F ↗ |
| 37 | Vanguard Bd Index Fds Vanguard Ultra | 493,100 | $24.4M | 0.3% | +6.9% | 13F ↗ |
| 38 | DMLP Dorchester Minerals, L.P. · Units | 854,234 | $24.0M | 0.3% | +0.2% | 13F ↗ |
| 39 | WTM White Mountains Insurance Group, Ltd. | 11,599 | $23.3M | 0.3% | -5.0% | 13F ↗ |
| 40 | RPRX Royalty Pharma plc | 353,191 | $20.6M | 0.3% | +2.4% | 13F ↗ |
| 41 | MSTR Strategy Inc | 128,921 | $19.7M | 0.2% | -0.7% | 13F ↗ |
| 42 | BRK-B Berkshire Hathaway Inc. Class B | 37,550 | $18.7M | 0.2% | +0.9% | 13F ↗ |
| 43 | LYV Live Nation Entertainment, Inc. | 100,939 | $17.1M | 0.2% | Unchanged | 13F ↗ |
| 44 | TFPM Triple Flag Precious Metals Corp. | 519,117 | $16.0M | 0.2% | +2.5% | 13F ↗ |
| 45 | IPAR Interparfums, Inc. | 129,849 | $14.4M | 0.2% | -0.4% | 13F ↗ |
| 46 | OSK Oshkosh Corporation | 86,175 | $11.1M | 0.1% | -3.0% | 13F ↗ |
| 47 | FRMI Fermi Inc. | 2.63M | $11.1M | 0.1% | +220% | 13F ↗ |
| 48 | RCL Royal Caribbean Cruises Ltd. | 38,703 | $10.3M | 0.1% | -1.8% | 13F ↗ |
| 49 | RGLD Royal Gold, Inc. | 41,808 | $9.9M | 0.1% | -9.2% | 13F ↗ |
| 50 | MA Mastercard Incorporated | 17,669 | $9.7M | 0.1% | -0.1% | 13F ↗ |
Showing the top 50 of 347 positions. Premium lists every position, plus puts and calls.
Changes since Q2 2026
11 new, 84 added to, 158 trimmed, 14 exited, 94 unchanged. By estimated dollars.
New positions (11)
| XOM ExxonMobil Holdings Corporation | 37,644 | New | $6.1M |
| Consensus Mining & Seigniorage Corp | 152,001 | New | $4.6M |
| Vanguard Instl Index Fd Ultr Shor Tr Etf | 15,700 | New | $1.2M |
| PAAS Pan American Silver Corp. · Comm | 18,120 | New | $824.6K |
| AU AngloGold Ashanti PLC | 7,034 | New | $660.8K |
| Proshares Tr Ultrapro Qqq | 6,450 | New | $503.3K |
| Proshares Tr Ultrapro Short | 14,152 | New | $487.0K |
| ADIG ADI Global Distribution Inc. | 26,240 | New | $470.2K |
| T AT&T Inc. | 9,045 | New | $220.7K |
| PARR Par Pacific Holdings, Inc. | 2,672 | New | $218.1K |
Added to (84)
| BTC Grayscale Bitcoin Mini Trust | 19.43M | +220% | $493.8M |
| TW Tradeweb Markets Inc. | 254,450 | +160% | $15.8M |
| AN AutoNation, Inc. | 289,361 | +35.9% | $12.0M |
| RBA RB Global, Inc. | 316,548 | +49.8% | $8.6M |
| FRMI Fermi Inc. | 2.63M | +220% | $7.6M |
| WHK WhiteHawk Minerals Corp | 1.84M | +18.4% | $7.0M |
| ICE Intercontinental Exchange Inc. | 1.02M | +3.1% | $4.7M |
| WBI WaterBridge Infrastructure LLC | 7.75M | +1.2% | $2.7M |
| PBT Permian Basin Royalty Trust · Units | 6.81M | +1.3% | $2.6M |
| Vanguard Bd Index Fds Vanguard Ultra | 493,100 | +6.9% | $1.6M |
Trimmed (158)
| GBTC Grayscale Bitcoin Trust · Shs Rep Com Ut | 4.27M | -64.8% | -$508.1M |
| TPL Texas Pacific Land Corporation | 9.69M | -1.1% | -$35.6M |
| VNOM Viper Energy, Inc. | 1.06M | -35.7% | -$23.5M |
| WPM Wheaton Precious Metals Corp | 1.60M | -5.0% | -$11.3M |
| CACI CACI International, Inc. | 135,255 | -12.0% | -$11.3M |
| MIAX Miami International Holdings, Inc. | 7.71M | -1.7% | -$4.5M |
| PAG Penske Automotive Group, Inc. | 122,585 | -11.9% | -$3.3M |
| HHH Howard Hughes Holdings Inc. | 16,322 | -70.6% | -$2.9M |
| CVEO Civeo Corporation | 2.21M | -3.5% | -$2.6M |
| CCL Carnival Corporation Ltd. | 368,648 | -13.9% | -$1.5M |
Exited (14)
| Exxon Mobil Corp | 38,037 | Exited | -$5.2M |
| WEN Wendy's Company | 108,803 | Exited | -$902.0K |
| PSIX Power Solutions International, Inc. | 8,300 | Exited | -$322.8K |
| BEAM Beam Therapeutics Inc. | 8,388 | Exited | -$287.9K |
| EFXT Enerflex Ltd | 9,990 | Exited | -$244.9K |
| WY Weyerhaeuser Company | 10,081 | Exited | -$241.3K |
| LOW Lowe's Companies, Inc. | 1,068 | Exited | -$235.5K |
| BA Boeing Company | 1,006 | Exited | -$217.8K |
| NRG NRG Energy, Inc. | 1,426 | Exited | -$208.3K |
| WTTR Select Water Solutions, Inc. | 10,000 | Exited | -$199.8K |
The 10 largest of each, by estimated dollars: shares changed times the later report's price. Index tracking, splits and mergers move positions too.
All positions
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Reported value by quarter
Value and number of positions at the end of each quarter.
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Largest positions in earlier quarters
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Ten largest positions
By value, Q3 2026.
Filings
| Filing | ||||||
|---|---|---|---|---|---|---|
| Q3 2026 | Nov 12, 2026 | 13F-HR | 348 | $7.9B | Current | SEC ↗ |
| Q2 2026 | Aug 11, 2026 | 13F-HR | 351 | $8.8B | Current | SEC ↗ |
| Q1 2026 | May 15, 2026 | 13F-HR | 353 | $9.2B | Current | SEC ↗ |
| Q4 2025 | Feb 11, 2026 | 13F-HR | 324 | $7.4B | Current | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | 13F-HR | 336 | $8.2B | Current | SEC ↗ |
| Q2 2025 | Aug 12, 2025 | 13F-HR | 352 | $8.4B | Current | SEC ↗ |
| Q1 2025 | May 15, 2025 | 13F-HR | 347 | $8.8B | Current | SEC ↗ |
Most recent first, up to 80. An amendment can replace a report or add holdings to it. All 13F filings
Information, not investment advice. Values are the fund's own figures at quarter end; a report can be up to 45 days old when filed. Disclaimer