Latest HORIZON KINETICS ASSET MANAGEMENT LLC Stock Portfolio

HORIZON KINETICS ASSET MANAGEMENT LLC Performance:

2025 Q4: -39.55%YTD: -38.65%2024: 5.15%

Performance for 2025 Q4 is -39.55%, and YTD is -38.65%, and 2024 is 5.15%.

About HORIZON KINETICS ASSET MANAGEMENT LLC and 13F Hedge Fund Stock Holdings

On 2026-02-11, the fund reported it's updated stock portfolio. In the 13F Holdings report, HORIZON KINETICS ASSET MANAGEMENT LLC reported an equity portfolio of $7.4 Billions as of 31 Dec, 2025.

The top stock holdings of HORIZON KINETICS ASSET MANAGEMENT LLC are TPL, , . The fund has invested 40.1% of it's portfolio in TEXAS PACIFIC LAND CORPORATI and 13.1% of portfolio in GRAYSCALE BITCOIN TRUST ETF.

The fund managers got completely rid off ASSOCIATED CAP GROUP INC (AC), WEST FRASER TIMBER CO LTD and ARIS WATER SOLUTIONS INC (ARIS) stocks. They significantly reduced their stock positions in LIBERTY BROADBAND CORP (LBRDA), BGC GROUP INC and S&P GLOBAL INC (SPGI). HORIZON KINETICS ASSET MANAGEMENT LLC opened new stock positions in WESTERN MIDSTREAM PARTNERS L (WES), FERMI INC and VANGUARD TAX-MANAGED FDS (VEA). The fund showed a lot of confidence in some stocks as they added substantially to TRIPLE FLAG PRECIOUS METAL, NETFLIX INC (NFLX) and VANGUARD INDEX FDS (VB).

HORIZON KINETICS ASSET MANAGEMENT LLC Annual Return Estimates Vs S&P 500

Our best estimate is that HORIZON KINETICS ASSET MANAGEMENT LLC made a return of -39.55% in the last quarter. In trailing 12 months, it's portfolio return was -38.65%.

Performance
S&P 500

New Buys

Ticker	$ Bought
western midstream partners l	5,296,360
fermi inc	869,608
liberty live holdings inc	311,351
vanguard tax-managed fds	256,751

New stocks bought by HORIZON KINETICS ASSET MANAGEMENT LLC

Additions

Ticker	% Inc.
triple flag precious metal	1,510
netflix inc	674
vanguard index fds	361
texas pacific land corporati	194
royal gold inc	48.66
aehr test sys	38.31
broadridge finl solutions in	35.72
invesco exchange traded fd t	34.34

Additions to existing portfolio by HORIZON KINETICS ASSET MANAGEMENT LLC

Reductions

Ticker	% Reduced
liberty broadband corp	-88.56
bgc group inc	-69.4
burford cap ltd	-53.86
s&p global inc	-47.26
automatic data processing in	-43.32
grayscale ethereum mini tr e	-40.02
equity lifestyle pptys inc	-39.35
general mtrs co	-34.48

HORIZON KINETICS ASSET MANAGEMENT LLC reduced stake in above stock

Sold off

Ticker	$ Sold
sandstorm gold ltd	-15,962,400
associated cap group inc	-27,003,300
west fraser timber co ltd	-20,122,500
aris water solutions inc	-5,485,100
pimco new york mun fd ii	-261,556
proshares tr	-493,193
nuveen mun high income oppor	-109,808
kraneshares trust	-221,422

HORIZON KINETICS ASSET MANAGEMENT LLC got rid off the above stocks

Sector Distribution

HORIZON KINETICS ASSET MANAGEMENT LLC has about 81.5% of it's holdings in Others sector.

Sector	%
Others	81.5
Financial Services	4.2
Utilities	3.3
Energy	2.2
Consumer Cyclical	2
Technology	1.9
Industrials	1.9
Real Estate	1.2

Market Cap. Distribution

HORIZON KINETICS ASSET MANAGEMENT LLC has about 9.3% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	81.5
LARGE-CAP	9.3
SMALL-CAP	4.9
MID-CAP	3.5

Stocks belong to which Index?

About 8.9% of the stocks held by HORIZON KINETICS ASSET MANAGEMENT LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	91.2
S&P 500	6.3
RUSSELL 2000	2.6

Top 5 Winners (%)		%
	grayscale zcash	395.1 %
REPL	replimune group inc	129.2 %
VNDA	vanda pharmaceuticals inc	75.1 %
APYX	apyx medical corporation	63.5 %
TTI	tetra technologies inc del	63.0 %

Top 5 Winners ($)		$
MSB	mesabi tr	27.9 M
HE	hawaiian elec industries	23.7 M
	wheaton precious metals corp	15.0 M
DBRG	digitalbridge group inc	11.5 M
	miami intl hldgs inc	6.6 M

Top 5 Losers (%)		%
NFLX	netflix inc	-86.9 %
BKKT	bakkt holdings inc	-69.8 %
TPL	texas pacific land corporati	-60.1 %
	grayscale decentraland	-54.9 %
MSTR	strategy inc	-52.8 %

Top 5 Losers ($)		$
TPL	texas pacific land corporati	-4472.7 M
	grayscale bitcoin trust etf	-302.9 M
	grayscale bitcoin mini tr et	-35.7 M
	waterbridge infrastructure l	-34.4 M
	landbridge company llc	-24.6 M

HORIZON KINETICS ASSET MANAGEMENT LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of HORIZON KINETICS ASSET MANAGEMENT LLC

HORIZON KINETICS ASSET MANAGEMENT LLC has 322 stocks in it's portfolio. About 73.6% of the portfolio is in top 10 stocks. TPL proved to be the most loss making stock for the portfolio. MSB was the most profitable stock for HORIZON KINETICS ASSET MANAGEMENT LLC last quarter.

Last Reported on: 11 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	0.03	6,939	1,886,320	reduced	-5.55

AAXJ	ishares tr	0.00	5,505	396,415	reduced	-5.00

AB	alliancebernstein hldg l p	0.10	193,741	7,455,150	added	2.91

ABBV	abbvie inc	0.06	19,541	4,464,920	reduced	-3.99

ABT	abbott labs	0.02	10,051	1,259,290	reduced	-3.9

AC	associated cap group inc	0.00	0.00	0.00	sold off	-100

ACES	alps etf tr	0.04	60,307	2,835,640	added	1.06

ADI	analog devices inc	0.02	4,231	1,147,560	reduced	-10.00

ADM	archer daniels midland co	0.05	60,202	3,461,010	reduced	-10.66

ADP	automatic data processing in	0.00	904	232,535	reduced	-43.32

AEHR	aehr test sys	0.01	21,300	430,047	added	38.31

AFK	vaneck etf trust	0.02	10,621	1,208,460	reduced	-2.44

AFK	vaneck etf trust	0.01	8,673	743,868	reduced	-4.21

AFL	aflac inc	0.00	3,000	330,810	unchanged	0.00

AGQ	proshares tr ii	0.02	23,348	1,293,010	unchanged	0.00

AJG	gallagher arthur j & co	0.01	1,953	505,416	reduced	-0.2

ALKS	alkermes plc	0.01	22,066	617,406	reduced	-4.2

ALLO	allogene therapeutics inc	0.00	18,388	25,191	reduced	-4.2

ALNY	alnylam pharmaceuticals inc	0.01	2,376	944,816	reduced	-4.19

AMG	affiliated managers group in	0.01	2,195	632,774	added	10.97