HORIZON KINETICS ASSET MANAGEMENT LLC — 13F Holdings & Portfolio
CIK 1056823 · latest 13F-HR filed 2026-08-11
HORIZON KINETICS ASSET MANAGEMENT LLC manages $8.82B in 13F-reported U.S. long-equity assets across 351 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are TPL (48.64%), GBTC (6.27%), LB (5.23%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 20 new positions and exited 21; 125 existing positions rose in reported value and 127 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Loading holdings…
AUM
$8.82B
Long-equity book
Holdings
351
Distinct positions
Period
2026-06-30
Filed 2026-08-11
Q/Q Activity
+20 / −21 / ↑125 / ↓127
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26TPL48.6% · -2%GBTC6.3% · -13%LB5.2% · +3%HE3.4% · +4%MIAX3.3% · +127%WBI3.0% · +4%WPM2.1% · -4%PBT1.9% · +6%FNV1.8% · +2%BTC1.8% · +102%ICE1.4% · +17%CBOE1.1% · +1%LNG1.1% · -4%MSB0.9% · +2%CVEO0.9% · -3%CACI0.8% · -1%CCJ0.8% · +7%VNOM0.8% · -1%BN0.8% · +1%CME0.7% · +5%OR0.7% · +9%WHK0.5% · newAN0.4% · -5%TRC0.4% · +6%JOE0.4% · +9%EROK0.4% · newHKHC0.4% · 0%GLXY0.4% · -1%BG0.3% · -16%IBIT0.3% · +6%SII0.3% · +12%WTM0.3% · -7%PAG0.3% · -2%RBA0.3% · +13%SJT0.3% · +7%MRSH0.3% · -8%VUSB0.3% · +36%DMLP0.2% · -1%RPRX0.2% · +1%BRK.B0.2% · -2%LYV0.2% · -36%TFPM0.2% · +23%IPAR0.2% · -6%OSK0.2% · -23%RCL0.1% · -24%CCL0.1% · -55%MSTR0.1% · -7%TW0.1% · +1750%WMB0.1% · -7%MSGS0.1% · -0%RGLD0.1% · -2%MA0.1% · -9%AB0.1% · +14%BAM0.1% · -0%SBR0.1% · +1%ET0.1% · +1%SPHR0.1% · -3%FRMI0.1% · +55%WES0.1% · +2%FWONK0.1% · -6%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 77.5%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Sep 24, 2026.
Assets Under Management
$9.61B
Discretionary
$9.46B
Employees
80
Accounts
2,223
Address
1270 AVENUE OF THE AMERICAS
27TH FLOOR
NEW YORK, NY 10020
27TH FLOOR
NEW YORK, NY 10020
Phone
(646) 291-2300
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| BREGMAN, STEVEN Control | CO-CHIEF EXECUTIVE OFFICER since Apr 2026 | Less than 5% | Individual |
| DOYLE, PETER, BRENDAN Control | CO-CHIEF EXECUTIVE OFFICER since Apr 2026 | Less than 5% | Individual |
| GRIMALDI, RUSSELL, WAYNE Control | CHIEF COMPLIANCE OFFICER, SENIOR VICE PRESIDENT AND DEPUTY GENERAL COUNSEL since Jan 2017 | Less than 5% | Individual |
| HERNDON, MARK, AUGUSTUS Control | CHIEF FINANCIAL OFFICER since Mar 2024 | Less than 5% | Individual |
| HORIZON KINETICS LLC Control | OWNER since Apr 2011 | 75% or more | Domestic Entity |
| KESSLEN, JAY, HARRIS Control | GENERAL COUNSEL, MANAGING DIRECTOR, ELECTED MANAGER AND SECRETARY since Apr 2011 | Less than 5% | Individual |
| WILLIAMS, ALUN, L Control | CHIEF OPERATING OFFICER, MANAGING DIRECTOR, ELECTED MANAGER AND ASSISTANT SECRETARY since Feb 2021 | Less than 5% | Individual |
| HORIZON KINETICS HOLDING CORPORATION Control Indirect owner via HORIZON KINETICS LLC | OWNER since Aug 2024 | 75% or more | Domestic Entity |
Ownership & leadership changes · 7 filings with changes since Mar 30, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Sep 24, 2026 filing
- ChangedGRIMALDI, RUSSELL, WAYNE · title CHIEF COMPLIANCE OFFICER, SENIOR VICE PRESIDENT AND ASSOCIATE GENERAL COUNSEL → CHIEF COMPLIANCE OFFICER, SENIOR VICE PRESIDENT AND DEPUTY GENERAL COUNSEL
Apr 15, 2026 filing
- No longer listedSTAHL, MURRAY · CHAIRMAN, CHIEF EXECUTIVE OFFICER AND CHIEF INVESTMENT OFFICER · Less than 5% · control person · listed since Oct 1994
- ChangedBREGMAN, STEVEN · title PRESIDENT AND ELECTED MANAGER → CO-CHIEF EXECUTIVE OFFICER
- ChangedDOYLE, PETER, BRENDAN · title MANAGING DIRECTOR AND ELECTED MANAGER → CO-CHIEF EXECUTIVE OFFICER
Mar 28, 2025 filing
- No longer listedBREGMAN, STEVEN · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- No longer listedDOYLE, LAWRENCE, PATRICK · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- No longer listedDOYLE, LAWRENCE, PATRICK · ELECTED MANAGER · Less than 5% · control person · listed since Apr 2011
- No longer listedDOYLE, PETER, BRENDAN · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- No longer listedEWING, THOMAS, CRIMMINS · ELECTED MANAGER · Less than 5% · control person · listed since Feb 1996
- No longer listedEWING, THOMAS, CRIMMINS · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- No longer listedHORIZON COMMON INC · OWNER · 25–50% · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- No longer listedKESSLEN, JAY, HARRIS · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- No longer listedKINETICS COMMON INC · OWNER · 25–50% · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- No longer listedPOLYAKOV, LEONID · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- No longer listedPOLYAKOV, LEONID · CHIEF FINANCIAL OFFICER AND ELECTED MANAGER · Less than 5% · control person · listed since Apr 2011
- No longer listedSTAHL, MURRAY · CHAIRMAN OF THE BOARD OF MANAGERS AND ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- No longer listedWILLIAMS, ALUN, L · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Feb 2021
- AddedHERNDON, MARK, AUGUSTUS · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- AddedHORIZON KINETICS HOLDING CORPORATION · OWNER · 75% or more · indirect via HORIZON KINETICS LLC · control person
Mar 31, 2021 filing
- No longer listedROSS, HUGH, MICHAEL · CHIEF OPERATING OFFICER, MANAGING DIRECTOR, ELECTED MANAGER AND SECRETARY · Less than 5% · control person · listed since Mar 2009
- No longer listedROSS, HUGH, MICHAEL · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- AddedWILLIAMS, ALUN, L · CHIEF OPERATING OFFICER, MANAGING DIRECTOR, ELECTED MANAGER AND ASSISTANT SECRETARY · Less than 5% · control person
- AddedWILLIAMS, ALUN, L · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
- ChangedKESSLEN, JAY, HARRIS · title GENERAL COUNSEL, MANAGING DIRECTOR, ELECTED MANAGER AND ASSISTANT SECRETARY → GENERAL COUNSEL, MANAGING DIRECTOR, ELECTED MANAGER AND SECRETARY
Jan 25, 2017 filing
- AddedGRIMALDI, RUSSELL, WAYNE · CHIEF COMPLIANCE OFFICER, SENIOR VICE PRESIDENT AND ASSOCIATE GENERAL COUNSEL · Less than 5% · control person
- ChangedBREGMAN, STEVEN · title PRESIDENT → PRESIDENT AND ELECTED MANAGER
- ChangedKESSLEN, JAY, HARRIS · title GENERAL COUNSEL, CHIEF COMPLIANCE OFFICER, SECRETARY AND ELECTED MANAGER → GENERAL COUNSEL, MANAGING DIRECTOR, ELECTED MANAGER AND ASSISTANT SECRETARY
- ChangedROSS, HUGH, MICHAEL · title CHIEF OPERATING OFFICER → CHIEF OPERATING OFFICER, MANAGING DIRECTOR, ELECTED MANAGER AND SECRETARY
Nov 4, 2015 filing
- No longer listedKRAMER, JOHN, DOUGLAS · CHIEF EXECUTIVE OFFICER · Less than 5% · control person · listed since Jan 2010
- No longer listedKRAMER, JOHN, DOUGLAS · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person · listed since Apr 2011
- ChangedSTAHL, MURRAY · title CHAIRMAN AND CHIEF INVESTMENT OFFICER → CHAIRMAN, CHIEF EXECUTIVE OFFICER AND CHIEF INVESTMENT OFFICER
Apr 20, 2015 filing
- No longer listedSHULMAN, ROBIN, JAYNE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Oct 2010
- ChangedKESSLEN, JAY, HARRIS · title GENERAL COUNSEL, SECRETARY AND ELECTED MANAGER → GENERAL COUNSEL, CHIEF COMPLIANCE OFFICER, SECRETARY AND ELECTED MANAGER
Mar 30, 2012 filing (earliest on record)
- ListedBREGMAN, STEVEN · PRESIDENT · Less than 5% · control person
- ListedBREGMAN, STEVEN · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
- ListedDOYLE, LAWRENCE, PATRICK · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
- ListedDOYLE, LAWRENCE, PATRICK · ELECTED MANAGER · Less than 5% · control person
- ListedDOYLE, PETER, BRENDAN · MANAGING DIRECTOR AND ELECTED MANAGER · Less than 5% · control person
- ListedDOYLE, PETER, BRENDAN · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
- ListedEWING, THOMAS, CRIMMINS · ELECTED MANAGER · Less than 5% · control person
- ListedEWING, THOMAS, CRIMMINS · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
- ListedHORIZON COMMON INC · OWNER · 25–50% · indirect via HORIZON KINETICS LLC · control person
- ListedHORIZON KINETICS LLC · OWNER · 75% or more · control person
- ListedKESSLEN, JAY, HARRIS · GENERAL COUNSEL, SECRETARY AND ELECTED MANAGER · Less than 5% · control person
- ListedKESSLEN, JAY, HARRIS · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
- ListedKINETICS COMMON INC · OWNER · 25–50% · indirect via HORIZON KINETICS LLC · control person
- ListedKRAMER, JOHN, DOUGLAS · CHIEF EXECUTIVE OFFICER · Less than 5% · control person
- ListedKRAMER, JOHN, DOUGLAS · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
- ListedPOLYAKOV, LEONID · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
- ListedPOLYAKOV, LEONID · CHIEF FINANCIAL OFFICER AND ELECTED MANAGER · Less than 5% · control person
- ListedROSS, HUGH, MICHAEL · CHIEF OPERATING OFFICER · Less than 5% · control person
- ListedROSS, HUGH, MICHAEL · ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
- ListedSHULMAN, ROBIN, JAYNE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedSTAHL, MURRAY · CHAIRMAN AND CHIEF INVESTMENT OFFICER · Less than 5% · control person
- ListedSTAHL, MURRAY · CHAIRMAN OF THE BOARD OF MANAGERS AND ELECTED MANAGER · General partner, trustee or manager · indirect via HORIZON KINETICS LLC · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- MIAMI INTL HLDGS INC$157.1M +116.9%
- LANDBRIDGE COMPANY LLC$70.7M +18.1%
- GRAYSCALE BITCOIN MINI TR ET$67.4M +74.8%
- WATERBRIDGE INFRASTRUCTURE L$65.5M +33.3%
- PERMIAN BASIN RTY TR$31.2M +22.7%
Top Trims
- TEXAS PACIFIC LAND CORPORATI-$462.8M -9.7%
- GRAYSCALE BITCOIN TRUST ETF-$186.3M -25.2%
- WHEATON PRECIOUS METALS CORP-$41.3M -17.9%
- FRANCO NEV CORP-$25.9M -13.8%
- CHENIERE ENERGY INC-$23.2M -19.4%
New Positions
- WHITEHAWK MINERALS CORP$43.2M
- EAGLEROCK LD LLC$35.8M
- CARNIVAL CORP LTD$12.2M
- CENTURI HOLDINGS INC$2.9M
- AMRIZE LTD$1.8M
Exited Positions
- CARNIVAL CORP$24.8M
- EA SERIES TRUST$5.5M
- CONSENSUS MINING & SEIGNIORAGE CORP COM$4.3M
- TRI POINTE HOMES INC$4.0M
- PATTERSON-UTI ENERGY INC$2.8M
HORIZON KINETICS ASSET MANAGEMENT LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | TEXAS PACIFIC LAND CORPORATI | TPL | 88262P102 | $4.29B | 48.64% | 9,802,899 | SH |
| 2 | GRAYSCALE BITCOIN TRUST ETF | GBTC | 389637109 | $552.6M | 6.27% | 12,139,990 | SH |
| 3 | LANDBRIDGE COMPANY LLC | LB | 514952100 | $461.3M | 5.23% | 5,821,263 | SH |
| 4 | HAWAIIAN ELEC INDS INC MTN B | HE | 419870100 | $303.0M | 3.44% | 22,395,397 | SH |
| 5 | MIAMI INTL HLDGS INC | MIAX | 59356Q108 | $291.4M | 3.30% | 7,842,173 | SH |
| 6 | WATERBRIDGE INFRASTRUCTURE L | WBI | 940923105 | $262.2M | 2.97% | 7,650,237 | SH |
| 7 | WHEATON PRECIOUS METALS CORP | WPM | 962879102 | $189.5M | 2.15% | 1,686,903 | SH |
| 8 | PERMIAN BASIN RTY TR | PBT | 714236106 | $168.5M | 1.91% | 6,729,289 | SH |
| 9 | FRANCO NEV CORP | FNV | 351858105 | $161.2M | 1.83% | 773,418 | SH |
| 10 | GRAYSCALE BITCOIN MINI TR ET | BTC | 389930207 | $157.5M | 1.79% | 6,067,993 | SH |
| 11 | INTERCONTINENTAL EXCHANGE IN | ICE | 45866F104 | $121.2M | 1.37% | 984,701 | SH |
| 12 | CBOE GLOBAL MKTS INC | CBOE | 12503M108 | $100.6M | 1.14% | 414,634 | SH |
| 13 | CHENIERE ENERGY INC | LNG | 16411R208 | $96.1M | 1.09% | 402,040 | SH |
| 14 | MESABI TR | MSB | 590672101 | $81.5M | 0.92% | 3,219,382 | SH |
| 15 | CIVEO CORP CDA | CVEO | 17878Y207 | $80.2M | 0.91% | 2,290,991 | SH |
| 16 | CACI INTL INC | CACI | 127190304 | $71.2M | 0.81% | 153,743 | SH |
| 17 | CAMECO CORP | CCJ | 13321L108 | $71.1M | 0.81% | 697,741 | SH |
| 18 | VIPER ENERGY INC | VNOM | 64361Q101 | $70.1M | 0.79% | 1,652,125 | SH |
| 19 | BROOKFIELD CORP | BN | 11271J107 | $67.6M | 0.77% | 1,587,339 | SH |
| 20 | CME GROUP INC | CME | 12572Q105 | $62.7M | 0.71% | 283,774 | SH |
| 21 | OR ROYALTIES INC. | OR | 68390D106 | $60.6M | 0.69% | 1,915,799 | SH |
| 22 | WHITEHAWK MINERALS CORP | WHK | 96524T101 | $43.2M | 0.49% | 1,552,705 | SH |
| 23 | AUTONATION INC | AN | 05329W102 | $39.6M | 0.45% | 212,917 | SH |
| 24 | TEJON RANCH CO | TRC | 879080109 | $37.6M | 0.43% | 2,011,689 | SH |
| 25 | ST JOE CO | JOE | 790148100 | $37.1M | 0.42% | 592,608 | SH |
| 26 | EAGLEROCK LD LLC | EROK | 27005A105 | $35.8M | 0.41% | 1,684,213 | SH |
| 27 | HORIZON KINETICS HLDG CORP COM | HKHC | 439913104 | $35.5M | 0.40% | 1,075,416 | SH |
| 28 | GALAXY DIGITAL INC. | GLXY | 36317J209 | $33.8M | 0.38% | 1,236,051 | SH |
| 29 | BUNGE GLOBAL SA | BG | H11356104 | $30.3M | 0.34% | 284,079 | SH |
| 30 | ISHARES BITCOIN TRUST ETF | IBIT | 46438F101 | $27.9M | 0.32% | 837,308 | SH |
| 31 | SPROTT INC | SII | 852066208 | $26.1M | 0.30% | 232,217 | SH |
| 32 | WHITE MTNS INS GROUP LTD | WTM | G9618E107 | $25.3M | 0.29% | 12,206 | SH |
| 33 | PENSKE AUTOMOTIVE GRP INC | PAG | 70959W103 | $24.9M | 0.28% | 139,067 | SH |
| 34 | RB GLOBAL INC | RBA | 74935Q107 | $24.6M | 0.28% | 211,349 | SH |
| 35 | SAN JUAN BASIN RTY TR | SJT | 798241105 | $24.1M | 0.27% | 7,494,020 | SH |
| 36 | MARSH & MCLENNAN COS INC | MRSH | 571748102 | $23.3M | 0.26% | 139,983 | SH |
| 37 | VANGUARD BD INDEX FDS | VUSB | 92203C303 | $23.0M | 0.26% | 461,108 | SH |
| 38 | DORCHESTER MINERALS L P | DMLP | 25820R105 | $21.5M | 0.24% | 852,651 | SH |
| 39 | ROYALTY PHARMA PLC | RPRX | G7709Q104 | $19.3M | 0.22% | 344,861 | SH |
| 40 | BERKSHIRE HATHAWAY INC DEL | BRK.B | 084670702 | $18.6M | 0.21% | 37,231 | SH |
| 41 | LIVE NATION ENTERTAINMENT IN | LYV | 538034109 | $18.5M | 0.21% | 100,989 | SH |
| 42 | TRIPLE FLAG PRECIOUS METAL | TFPM | 89679M104 | $15.2M | 0.17% | 506,677 | SH |
| 43 | INTERPARFUMS INC | IPAR | 458334109 | $14.6M | 0.17% | 130,333 | SH |
| 44 | OSHKOSH CORP | OSK | 688239201 | $13.6M | 0.15% | 88,816 | SH |
| 45 | ROYAL CARIBBEAN GROUP | RCL | V7780T103 | $12.5M | 0.14% | 39,414 | SH |
| 46 | CARNIVAL CORP LTD | CCL | G2004J103 | $12.2M | 0.14% | 428,340 | SH |
| 47 | STRATEGY INC | MSTR | 594972408 | $11.3M | 0.13% | 129,774 | SH |
| 48 | TRADEWEB MKTS INC | TW | 892672106 | $9.7M | 0.11% | 97,740 | SH |
| 49 | WILLIAMS COS INC | WMB | 969457100 | $9.6M | 0.11% | 128,678 | SH |
| 50 | MADISON SQUARE GRDN SPRT COR | MSGS | 55825T103 | $9.3M | 0.11% | 23,221 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-11 | $8.82B | 351 | 0001398344-26-014047 |
| 2026-03-31 | 2026-05-15 | $9.23B | 353 | 0001398344-26-009239 |
| 2025-12-31 | 2026-02-11 | $7.39B | 324 | 0001056823-26-000007 |
| 2025-09-30 | 2025-11-14 | $8.20B | 336 | 0001056823-25-000029 |
Filer Information
Address
1270 AVENUE OF THE AMERICAS27TH FLOOR
NEW YORK, NY 10020
Phone
(646) 495-7347
Filing Manager
HORIZON KINETICS ASSET MANAGEMENT LLC
NEW YORK, NY
Signatory
Jay Kesslen
General Counsel