Horizon Kinetics Asset Management LLC reported 261 positions worth $8.42B for the quarter ended Jun 30, 2026, down 4.6% on the prior quarter. It opened 12 new positions, added to 52, trimmed 144 and exited 9. Its largest holding is Texas Pacific Land Corp at 50.9% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| MIAX Miami International Holdings, Inc. | +4.39M | +127.2% | $163.16M | 3.46% |
| BTC Grayscale Bitcoin Mini Trust ETF | +3.06M | +102.0% | $79.50M | 1.87% |
| WHK WhiteHawk Minerals Corp. | +1.55M | – | $43.20M | 0.513% |
| EROK EagleRock Land, LLC | +1.68M | – | $35.79M | 0.425% |
| ICE Intercontinental Exchange, Inc. | +145.8K | +17.4% | $17.95M | 1.44% |
| LB LandBridge Corp | +164.1K | +2.9% | $13.01M | 5.48% |
| WBI WaterBridge Infrastructure LLC | +308.1K | +4.2% | $10.56M | 3.11% |
| HE Hawaiian Electric Industries Inc | +760.1K | +3.5% | $10.28M | 3.6% |
| TW Tradeweb Markets Inc. | +92.5K | +1,750.1% | $9.21M | 0.116% |
| OR OR Royalties Inc. | +161.7K | +9.2% | $5.11M | 0.72% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| TPL Texas Pacific Land Corp | -212.5K | -2.1% | $92.99M | 50.94% |
| GBTC Grayscale Bitcoin Trust ETF | -1.86M | -13.3% | $84.89M | 6.56% |
| CCL Carnival Corp Ltd. | -529.3K | -55.3% | $15.12M | 0.145% |
| LYV Live Nation Entertainment, Inc. | -56.2K | -35.7% | $10.29M | 0.22% |
| HHH Howard Hughes Holdings Inc. | -140.9K | -71.7% | $10.07M | 0.047% |
| WPM Wheaton Precious Metals Corp. | -74.6K | -4.2% | $8.38M | 2.25% |
| BG Bunge Global SA | -52.9K | -15.7% | $5.64M | 0.36% |
| LNG Cheniere Energy, Inc. | -18.3K | -4.4% | $4.37M | 1.14% |
| OSK Oshkosh Corp | -27.0K | -23.3% | $4.14M | 0.162% |
| RCL Royal Caribbean Cruises Ltd | -12.3K | -23.8% | $3.90M | 0.149% |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| WHK WhiteHawk Minerals Corp. | +1.55M | $43.20M | 0.513% |
| EROK EagleRock Land, LLC | +1.68M | $35.79M | 0.425% |
| CTRI Centuri Holdings, Inc. | +96.0K | $2.90M | 0.034% |
| AMRZ Amrize Ltd | +34.6K | $1.84M | 0.022% |
| RDW Redwire Corp | +84.1K | $1.03M | 0.012% |
| KMB Kimberly Clark Corp | +7,636 | $838.20K | <0.01% |
| HONA Honeywell Aerospace Inc. | +3,286 | $726.47K | <0.01% |
| UPS United Parcel Service Inc | +4,460 | $479.45K | <0.01% |
| ENB Enbridge Inc | +4,777 | $258.96K | <0.01% |
| DORM Dorman Products, Inc. | +1,800 | $245.61K | <0.01% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| PTEN Patterson Uti Energy Inc | -258.6K | $2.80M | 0.032% |
| AWR American States Water Co | -4,374 | $330.76K | <0.01% |
| T At&T Inc. | -9,090 | $263.52K | <0.01% |
| NOC Northrop Grumman Corp | -360 | $245.61K | <0.01% |
| NFLX Netflix Inc | -2,410 | $231.72K | <0.01% |
| DOW Dow Inc. | -5,481 | $228.28K | <0.01% |
| AWK American Water Works Company, Inc. | -1,671 | $227.39K | <0.01% |
| COST Costco Wholesale Corp | -208 | $207.26K | <0.01% |
| GEHC GE HealthCare Technologies Inc. | -2,911 | $207.21K | <0.01% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | TPL Texas Pacific Land Corp | Real Estate | 9.80M | $4.29B | 50.94% | -212.5K | -2.1% | Reduced | 14.21% |
| 2 | GBTC Grayscale Bitcoin Trust ETF | Financial Services | 12.14M | $552.61M | 6.56% | -1.86M | -13.3% | Reduced | 6.8% |
| 3 | LB LandBridge Corp | Real Estate | 5.82M | $461.28M | 5.48% | +164.1K | +2.9% | Added | 7.57% |
| 4 | HE Hawaiian Electric Industries Inc | Utilities | 22.40M | $303.01M | 3.6% | +760.1K | +3.5% | Added | 12.97% |
| 5 | MIAX Miami International Holdings, Inc. | Financial Services | 7.84M | $291.42M | 3.46% | +4.39M | +127.2% | Added | 7.95% |
| 6 | WBI WaterBridge Infrastructure LLC | Energy | 7.65M | $262.17M | 3.11% | +308.1K | +4.2% | Added | 6.2% |
| 7 | WPM Wheaton Precious Metals Corp. | Financial Services | 1.69M | $189.47M | 2.25% | -74.6K | -4.2% | Reduced | 0.37% |
| 8 | FNV FRANCO NEVADA Corp | Financial Services | 773.4K | $161.21M | 1.91% | +16.1K | +2.1% | Added | 0.4% |
| 9 | BTC Grayscale Bitcoin Mini Trust ETF | Others | 6.07M | $157.46M | 1.87% | +3.06M | +102.0% | Added | 4.94% |
| 10 | ICE Intercontinental Exchange, Inc. | Financial Services | 984.7K | $121.23M | 1.44% | +145.8K | +17.4% | Added | 0.17% |
| 11 | CBOE Cboe Global Markets, Inc. | Financial Services | 414.6K | $100.62M | 1.19% | +4,568 | +1.1% | Added | 0.4% |
| 12 | LNG Cheniere Energy, Inc. | Energy | 402.0K | $96.09M | 1.14% | -18.3K | -4.4% | Reduced | 0.19% |
| 13 | MSB Mesabi Trust | Basic Materials | 3.22M | $81.45M | 0.967% | +78.4K | +2.5% | Added | 24.54% |
| 14 | CVEO Civeo Corp | Industrials | 2.29M | $80.18M | 0.952% | -61.4K | -2.6% | Reduced | 20.83% |
| 15 | CACI Caci International Inc | Industrials | 153.7K | $71.22M | 0.846% | -905 | -0.6% | Reduced | 0.7% |
Tip. Select a row to see that position’s full history at Horizon Kinetics Asset Management.
As of its Q2 2026 13F filing, Horizon Kinetics Asset Management LLC’s five largest positions were Texas Pacific Land Corp (TPL) at 50.9%, Grayscale Bitcoin Trust ETF (GBTC) at 6.6%, LandBridge Corp (LB) at 5.5%, Hawaiian Electric Industries Inc (HE) at 3.6%, Miami International Holdings, Inc. (MIAX) at 3.5% of the reported portfolio.
Horizon Kinetics Asset Management LLC reported a 13F portfolio worth $8.42B across 261 positions for Q2 2026. That is down 4.6% from the previous quarter.
Its largest purchases by value were Miami International Holdings, Inc. ($163.16M), Grayscale Bitcoin Mini Trust ETF ($79.50M), WhiteHawk Minerals Corp. ($43.20M). It opened 12 new positions.
Its largest sales by value were Texas Pacific Land Corp ($92.99M), Grayscale Bitcoin Trust ETF ($84.89M), Carnival Corp Ltd. ($15.12M). It exited 9 positions entirely.
From the Form 13F-HR reports Horizon Kinetics Asset Management LLC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.