Horizon Kinetics Asset Management Llc Portfolio Stock Holdings

Horizon Kinetics Asset Management Llc disclosed 351 stock positions valued at approximately $9.2 billion in its latest SEC 13F filing. The largest holdings include TEXAS PACIFIC LAND CORPORATI, GRAYSCALE BITCOIN TRUST ETF, and LANDBRIDGE COMPANY LLC. The filing reflects positions held as of March 31, 2026 and was filed on May 15, 2026.

Report Period
March 31, 2026
No. of Stocks
351
Portfolio Value
$9.2B
Holdings by Sector
Horizon Kinetics Asset Management Llc Portfolio Holdings in Q1 2026

318 holdings in the latest reporting period.

Page 1 of 4
CompanySymbolSectorPortfolio %SharesChange (Shares)Change %Value
TEXAS PACIFIC LAND CORPORATITPLEnergy51.49%10,015,379-318,383-3.08%$4,752,898,409
GRAYSCALE BITCOIN TRUST ETFGBTCOther8.00%14,004,882-108,711-0.77%$738,897,574
LANDBRIDGE COMPANY LLCLBEnergy4.23%5,657,134+14,368+0.25%$390,625,134
HAWAIIAN ELEC INDS INC MTN BHEUtilities3.48%21,635,294+2,242,931+11.57%$321,067,763
WHEATON PRECIOUS METALS CORPWPMBasic Materials2.50%1,761,519-731,999-29.36%$230,776,606
FRANCO NEV CORPFNVBasic Materials2.03%757,297-210,804-21.78%$187,090,315
PERMIAN BASIN RTY TRPBTEnergy1.49%6,379,692+191,892+3.10%$137,290,964
INTERCONTINENTAL EXCHANGE INICEFinancial Services1.43%838,899+8,133+0.98%$131,942,006
CHENIERE ENERGY INCLNGEnergy1.29%420,328-43,001-9.28%$119,272,365
CBOE GLOBAL MKTS INCCBOEFinancial Services1.25%410,066+1,668+0.41%$115,257,172
MESABI TRMSBBasic Materials1.07%3,140,972+113,274+3.74%$98,940,608
GRAYSCALE BITCOIN MINI TR ETBTCOther0.98%3,004,416+7,356+0.25%$90,102,437
CACI INTL INCCACITechnology0.91%154,648-3,943-2.49%$84,108,408
CME GROUP INCCMEFinancial Services0.86%270,253-5,358-1.94%$79,819,165
CAMECO CORPCCJEnergy0.77%651,825-22,271-3.30%$70,794,673
BROOKFIELD CORPBNFinancial Services0.69%1,571,936-11,774-0.74%$63,616,256
CIVEO CORP CDACVEOConsumer Cyclical0.67%2,352,353-97,134-3.97%$62,243,260
AUTONATION INCANConsumer Cyclical0.48%225,053-31,426-12.25%$43,943,880
BUNGE GLOBAL SABGOther0.46%336,944-12,050-3.45%$42,859,312
TEJON RANCH COTRCIndustrials0.39%1,902,606-9,967-0.52%$35,845,097
ST JOE COJOEReal Estate0.37%542,609-12,228-2.20%$34,075,817
SAN JUAN BASIN RTY TRSJTEnergy0.36%6,978,841+747,697+12.00%$33,568,225
ISHARES BITCOIN TRUST ETFIBITOther0.33%793,343-3,520-0.44%$30,480,238
SPROTT INCSIIFinancial Services0.32%206,997-7,629-3.55%$29,579,833
WHITE MTNS INS GROUP LTDG9618E107Other0.31%13,112-9-0.07%$28,806,544
MARSH & MCLENNAN COS INCMMCFinancial Services0.28%151,341-5,344-3.41%$26,250,011
CARNIVAL CORPCCLConsumer Cyclical0.27%957,653+105+0.01%$24,784,070
LIVE NATION ENTERTAINMENT INLYVCommunication Services0.26%157,169-12,715-7.48%$23,969,844
DORCHESTER MINERALS L PDMLPEnergy0.25%860,226-15,436-1.76%$23,312,122
GALAXY DIGITAL INC.GLXYOther0.25%1,250,969+1,415+0.11%$23,080,378
PENSKE AUTOMOTIVE GRP INCPAGConsumer Cyclical0.23%142,507-27,367-16.11%$21,307,615
BERKSHIRE HATHAWAY INC DELBRK-BFinancial Services0.20%38,033+45+0.12%$18,225,413
RB GLOBAL INCRBAIndustrials0.19%186,731+79,104+73.50%$17,898,187
STRATEGY INCMSTRTechnology0.19%139,253-124-0.09%$17,378,774
OSHKOSH CORPOSKIndustrials0.18%115,789-404-0.35%$17,045,371
VANGUARD BD INDEX FDSVUSBOther0.18%339,054-3,488-1.02%$16,879,803
ROYALTY PHARMA PLCRPRXOther0.18%340,783-12,578-3.56%$16,347,364
DIGITALBRIDGE GROUP INCDBRGReal Estate0.16%939,380-2,107,153-69.17%$14,485,237
TRIPLE FLAG PRECIOUS METALTFPMBasic Materials0.16%413,430-11,873-2.79%$14,350,158
ROYAL CARIBBEAN GROUPRCLOther0.15%51,698-1,060-2.01%$14,226,293
INTERPARFUMS INCIPARConsumer Defensive0.14%138,333-225-0.16%$12,566,130
HOWARD HUGHES HOLDINGS INCHHHReal Estate0.13%196,410-96,950-33.05%$12,424,897
ROYAL GOLD INCRGLDBasic Materials0.13%47,142-47,734-50.31%$11,997,075
WILLIAMS COS INCWMBEnergy0.11%138,301+980+0.71%$10,065,553
MASTERCARD INCORPORATEDMAFinancial Services0.11%19,516-63-0.32%$9,751,136
BROOKFIELD ASSET MANAGMT LTDBAMFinancial Services0.09%189,571-902-0.47%$8,426,453
SABINE RTY TRSBREnergy0.09%111,150+1,663+1.52%$8,374,027
LIBERTY ENERGY INCLBRTEnergy0.09%288,222-54,489-15.90%$8,300,794
ALLIANCEBERNSTEIN HLDG L PABFinancial Services0.09%217,447+23,706+12.24%$8,141,216
ENERGY TRANSFER L PETEnergy0.08%398,708+39,060+10.86%$7,695,061
MADISON SQUARE GRDN SPRT CORMSGSCommunication Services0.08%23,347+3+0.01%$7,503,726
NATURAL RESOURCE PARTNERS LPNRPEnergy0.08%57,871+33,006+132.74%$7,002,391
WESTERN MIDSTREAM PARTNERS LWESEnergy0.08%169,744+35,659+26.59%$6,988,360
LIBERTY MEDIA CORP DELFWONKCommunication Services0.07%80,990-627-0.77%$6,885,770
EXXON MOBIL CORPXOMEnergy0.07%39,692+1,112+2.88%$6,734,145
NASDAQ INCNDAQFinancial Services0.07%70,706-116-0.16%$6,002,273
VANGUARD SCOTTSDALE FDSVGSHOther0.06%98,748-11,338-10.30%$5,780,708
ALPS ETF TRAMLPOther0.06%106,520+46,213+76.63%$5,607,213
EA SERIES TRUSTBOXXOther0.06%47,475+47,475+100.00%$5,520,868
SPHERE ENTERTAINMENT COSPHRCommunication Services0.06%46,252-1,211-2.55%$5,429,985
FREEPORT MCMORAN INCFCXBasic Materials0.06%91,881-1,233-1.32%$5,400,765
LISTED FDS TRINFLOther0.06%100,352+1,372+1.39%$5,224,309
SCIENCE APPLICATIONS INTL COSAICTechnology0.05%50,581-2,081-3.95%$4,801,149
ENTERPRISE PRODS PARTNERS LEPDEnergy0.05%114,820+2,757+2.46%$4,344,789
ARCHER DANIELS MIDLAND COADMConsumer Defensive0.05%59,312-890-1.48%$4,311,394
ABBVIE INCABBVHealthcare0.05%19,209-332-1.70%$4,177,765
MARKEL GROUP INCMKLFinancial Services0.04%2,102--$4,022,426
TRI POINTE HOMES INCTPHConsumer Cyclical0.04%85,966+4+0.00%$4,017,191
NUTRIEN LTDNTRBasic Materials0.04%51,224-648-1.25%$3,865,365
JOHNSON & JOHNSONJNJHealthcare0.04%15,709-240-1.50%$3,839,969
SUNCOR ENERGY INC NEWSUEnergy0.04%56,237+1,460+2.67%$3,717,828
ELI LILLY & COLLYHealthcare0.04%3,965-141-3.43%$3,646,888
BROADRIDGE FINL SOLUTIONS INBRTechnology0.04%22,176+1,753+8.58%$3,603,156
MERCK & CO INCMRKHealthcare0.04%28,383+236+0.84%$3,414,189
NUVEEN AMT FREE QLTY MUN INCXNEAXOther0.04%296,306+1,057+0.36%$3,327,516
PHILIP MORRIS INTL INCPMConsumer Defensive0.04%19,734-117-0.59%$3,262,820
EAGLE MATLS INCEXPBasic Materials0.03%16,865+122+0.73%$3,195,158
KLA CORPKLACTechnology0.03%2,158-687-24.15%$3,177,461
L3HARRIS TECHNOLOGIES INCLHXIndustrials0.03%9,153-235-2.50%$3,159,277
CATERPILLAR INCCATIndustrials0.03%4,117-500-10.83%$2,916,730
CISCO SYS INCCSCOTechnology0.03%37,491-1,450-3.72%$2,908,927
CHEVRON CORPORATIONCVXEnergy0.03%14,018+690+5.18%$2,900,324
ALLIANCE RESOURCE PARTNERS LARLPEnergy0.03%104,709+40,568+63.25%$2,895,204
PATTERSON-UTI ENERGY INCPTENEnergy0.03%258,608--$2,800,725
VERTIV HOLDINGS COVRTIndustrials0.03%11,025--$2,762,645
BRISTOL-MYERS SQUIBB COBMYHealthcare0.03%44,706-404-0.90%$2,711,419
EQT CORPEQTEnergy0.03%42,521+1,268+3.07%$2,706,062
METALLA RTY & STREAMING LTDMTABasic Materials0.03%404,297-100-0.02%$2,680,489
LIBERTY MEDIA CORP DELFWONACommunication Services0.03%34,092-1,926-5.35%$2,661,903
ALTRIA GROUP INCMOConsumer Defensive0.03%38,957+350+0.91%$2,570,772
MICROSOFT CORPMSFTTechnology0.03%6,924-284-3.94%$2,562,997
WISDOMTREE INCWTFinancial Services0.03%168,056-30,421-15.33%$2,446,901
BAKKT INCBKKTTechnology0.03%316,538-8,168-2.52%$2,329,720
RTX CORPORATIONRTXIndustrials0.02%11,895-836-6.57%$2,294,546
BLACK STONE MINERALS L PBSMEnergy0.02%151,238--$2,286,719
APYX MEDICAL CORPORATIONAPYXHealthcare0.02%615,000--$2,269,350
BLACKROCK MUNIYIELD QUALITYMYIFinancial Services0.02%207,994+105,895+103.72%$2,186,017
EMERSON ELEC COEMRIndustrials0.02%16,592-150-0.90%$2,173,889
LAS VEGAS SANDS CORPLVSConsumer Cyclical0.02%40,007+747+1.90%$2,155,577
MADISON SQUARE GARDEN ENTMTMSGEConsumer Cyclical0.02%35,731-43-0.12%$2,104,913