Horizon Kinetics Asset Management LLC Murray Stahl

New York, NY 21 processed 13Fs on this site, 2021 Q3 to 2026 Q2

$8.8B
348 holdings
2026 Q2
−4.5% QoQ
Top 5 66.8%

Portfolio

2026 Q2, filed 8/11/2026, top 12 of 348 holdings

Top 5 66.8%, top 10 77.5%

AUM over time

2026 Q2 $8.8B −4.5% QoQ

Q3 2021

Q1 2022

Q1 2023

Q1 2024

Q1 2025

Q1 2026

Book

2021 Q4 2021 Q3, filed 15 Feb, long equity only

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TPL, Texas Pacific Land	41.72%, was 43.49%	Reduce −1.4%	1,517,455	$1,249	$1.9B	−21,648	+$34M
FNV, Franco Nevada	2.99%, was 2.88%	Add +3.7%	983,505	$138.29	$136M	+35,220	+$13M
WPM, Wheaton Precious Metals	2.93%, was 2.64%	Add +3.4%	3,102,710	$42.93	$133M	+101,355	+$20M
BN, Brookfield Corporation	2.76%, was 2.52%	Add +3.2%	2,078,135	$60.38	$125M	+64,059	+$18M
CACI, CACI International	2.75%	Add +2.2%	463,342	$269.21	$125M	+10,077	+$5.9M
ICE, Intercontinental Exchange	2.62%, was 2.21%	Add +5.7%	871,399	$136.77	$119M	+46,848	+$25M
CRL, Charles River Labs International	1.89%	Add +9.4%	227,306	$376.78	$86M	+19,514	−$105K
HHH, Howard Hughes	1.64%	Reduce −4.0%	732,878	$101.78	$75M	−30,865	+$7.5M
LYV, Live Nation Entertainment	1.62%	Reduce −3.1%	613,121	$119.69	$73M	−19,371	+$16M
CVEO, Civeo Corporation Cda	1.47%	Add +0.2%	3,488,642	$19.17	$67M	+5,516	−$11M
SVXY, Proshares Trust II	1.29%, was 1.44%	Reduce −15.6%	955,236	$61.55	$59M	−176,660	−$2.8M
MSB, Mesabi Trust	1.24%	Add +8.0%	2,129,746	$26.42	$56M	+158,317	−$2.3M
CBOE, Cboe Global Markets	1.20%, was 1.24%	Reduce −2.4%	418,430	$130.40	$55M	−10,243	+$1.5M
Associated Cap Group	1.19%	Reduce −0.6%	1,253,567	$43.00	$54M	−7,951	+$6.7M
ADM, Archer-Daniels-Midland	1.15%, was 0.97%	Add +11.7%	774,164	$67.59	$52M	+80,916	+$11M
CME, CME Group	1.06%, was 0.91%	Add +4.4%	210,922	$228.46	$48M	+8,798	+$9.1M
AN, Autonation	1.00%, was 1.11%	Reduce −0.9%	386,970	$116.85	$45M	−3,612	−$2.3M
Liberty Media	0.92%, was 0.93%	Reduce −2.6%	817,417	$50.85	$42M	−21,717	+$1.7M
LBRDA, Liberty Broadband Series C	0.85%, was 1.01%	Reduce −4.1%	240,915	$161.10	$39M	−10,287	−$4.6M
WEN, Wendys	0.82%, was 0.88%	Reduce −9.8%	1,564,326	$23.85	$37M	−169,243	−$275K
Sandstorm Gold	0.75%, was 0.73%	Add +1.2%	5,462,621	$6.20	$34M	+63,919	+$2.8M
SAIC	0.74%	Add +0.1%	404,770	$83.59	$34M	+304	−$771K
WST, West Fraser Timber	0.74%, was 0.59%	Add +17.6%	351,531	$95.36	$34M	+52,525	+$8.3M
Viper Energy Partners	0.73%, was 0.70%	Add +15.0%	1,565,804	$21.31	$33M	+204,257	+$3.6M
MMC, Marsh McLennan	0.72%, was 0.56%	Add +17.6%	186,873	$173.82	$32M	+27,905	+$8.4M
CBRE, CBRE Group	0.68%, was 0.55%	Add +17.7%	284,164	$108.51	$31M	+42,810	+$7.3M
Brigham Minerals	0.67%, was 0.55%	Add +16.5%	1,442,498	$21.09	$30M	+204,245	+$6.7M
WY, Weyerhaeuser	0.62%, was 0.49%	Add +16.0%	683,397	$41.18	$28M	+94,385	+$7.2M
IEP, Icahn Enterprises	0.58%, was 0.65%	Reduce −5.9%	528,318	$49.59	$26M	−32,896	−$1.8M
PAG, Penske Automotive Group	0.58%, was 0.59%	Reduce −2.4%	243,917	$107.22	$26M	−5,957	+$1M
Ihs Markit	0.57%	Reduce −1.6%	195,052	$132.92	$26M	−3,221	+$2.8M
VRSK, Verisk	0.56%, was 0.44%	Add +16.6%	110,775	$228.73	$25M	+15,797	+$6.3M
JOE, Saint Joe	0.52%, was 0.26%	Add +69.5%	450,512	$52.05	$23M	+184,660	+$12M
NTR, Nutrien	0.48%, was 0.38%	Add +15.5%	291,023	$75.20	$22M	+39,003	+$5.5M
DMLP, Dorchester Minerals	0.46%, was 0.45%	Add +4.1%	1,050,434	$19.79	$21M	+41,093	+$1.4M
Liberty Media	0.45%	Reduce −1.2%	401,782	$50.85	$20M	−5,015	+$1.2M
CNS, Cohen & Steers	0.45%, was 0.38%	Add +12.0%	219,625	$92.51	$20M	+23,464	+$3.9M
IPAR, Inter Parfums	0.44%	Reduce −0.8%	188,847	$106.90	$20M	−1,464	+$6M
Osisko Gold Royalties	0.43%, was 0.36%	Add +17.3%	1,600,182	$12.25	$20M	+235,740	+$4.3M
OSK, Oshkosh	0.40%	Reduce −2.1%	162,275	$112.71	$18M	−3,522	+$1.3M
ELS, Equity Lifestyle Properties	0.40%	Reduce −3.1%	207,371	$87.66	$18M	−6,659	+$1.5M
BRK.B, Berkshire Hathaway Class B	0.37%	Reduce −2.7%	56,469	$299.00	$17M	−1,584	+$1M
RGLD, Royal Gold	0.36%	Reduce −2.8%	153,977	$105.21	$16M	−4,450	+$1.1M
PYPL, PayPal	0.33%, was 0.48%	Reduce −1.3%	78,599	$188.58	$15M	−1,056	−$5.9M
MA, Mastercard	0.31%, was 0.32%	Reduce −0.2%	39,631	$359.31	$14M	−99	+$427K
TRC, Tejon Ranch	0.31%, was 0.17%	Add +79.1%	744,662	$19.08	$14M	+328,767	+$6.8M
BA, Boeing	0.31%, was 0.40%	Reduce −11.6%	69,394	$201.31	$14M	−9,090	−$3.3M
Liberty Media	0.30%	Reduce −1.2%	215,068	$63.24	$14M	−2,565	+$2.4M
EBAY, eBay	0.27%, was 0.30%	Reduce 0.0%	182,213	$66.50	$12M	−55	−$582K
RPRX	0.25%, was 0.20%	Add +17.6%	282,537	$39.85	$11M	+42,209	+$2.6M
Gamco Investors	0.24%	Add +8.0%	435,387	$24.98	$11M	+32,086	+$237K
Liberty Media	0.22%	Reduce −0.3%	169,655	$59.34	$10M	−588	+$2.1M
Kraneshares Trust	0.21%	New	185,371	$50.90	$9.4M	+185,371	+$9.4M
VGSH, Vanguard Scottsdale Funds	0.19%, was 0.22%	Reduce −8.9%	142,610	$60.83	$8.7M	−13,947	−$939K
GOOGL, Alphabet Class A	0.19%	Reduce −0.4%	2,948	$2,897	$8.5M	−12	+$627K
NDAQ, Nasdaq	0.19%, was 0.18%	Add +0.9%	40,320	$210.02	$8.5M	+366	+$756K
Iaa	0.18%, was 0.21%	Reduce −1.6%	164,999	$50.62	$8.4M	−2,675	−$798K
XNEAX, Nuveen Amt Free Qlty Mun	0.18%	Hold	532,395	$15.60	$8.3M	—	—
GOOG, Alphabet Class C	0.18%	Reduce −0.5%	2,815	$2,893	$8.1M	−15	+$602K
APYX, Apyx Medical	0.17%	Hold	615,000	$12.82	$7.9M	—	—
LBRDA, Liberty Broadband	0.17%, was 0.20%	Reduce −5.8%	46,743	$160.90	$7.5M	−2,874	−$832K
Alleghany	0.17%, was 0.18%	Reduce −7.0%	11,227	$667.59	$7.5M	−840	−$40K
MSGS, MSG Sports	0.15%, was 0.17%	Reduce −0.4%	39,273	$173.73	$6.8M	−161	−$510K
MSTR, Microstrategy	0.15%	Add +0.7%	12,229	$544.53	$6.7M	+86	−$365K
V, Visa	0.14%, was 0.15%	Reduce 0.0%	29,574	$216.71	$6.4M	−7	−$180K
BRK.A, Berkshire Hathaway Class A	0.11%	Hold	11	$450,636	$5M	—	—
RYN, Rayonier	0.11%, was 0.08%	Add +22.6%	122,300	$40.36	$4.9M	+22,539	+$1.4M
TCOM, Tri Pointe Homes	0.11%	Reduce −3.9%	173,112	$27.89	$4.8M	−6,950	+$1M
FCX, Freeport-McMoRan	0.10%	Reduce −1.4%	113,973	$41.73	$4.8M	−1,600	+$996K
AMCX, AMC Networks	0.10%, was 0.16%	Reduce −15.9%	126,927	$34.44	$4.4M	−24,061	−$2.7M
Catchmark Timber Trust	0.09%, was 0.14%	Reduce −3.0%	487,753	$8.71	$4.2M	−14,853	−$1.7M
PDI, Pimco Dynamic Income Fund	0.09%, was 0.07%	Add +40.5%	161,700	$25.91	$4.2M	+46,638	+$1.1M
DSL, Doubleline Income Solutions	0.09%	Add +7.7%	247,024	$16.12	$4M	+17,571	−$93K
ABBV, AbbVie	0.09%	Hold	28,568	$135.40	$3.9M	—	—
PBT, Permian Basin Rty Trust	0.08%, was 0.04%	Add +16.5%	381,021	$10.10	$3.8M	+53,939	+$2M
SPHR	0.08%	Add +0.5%	54,167	$70.34	$3.8M	+262	−$107K
BCPC, Balchem	0.08%, was 0.09%	Reduce −20.1%	21,533	$168.58	$3.6M	−5,426	−$281K
WMB, Williams Companies	0.08%	Add 0.0%	139,263	$26.04	$3.6M	+62	+$15K
MKL, Markel Group	0.08%	Reduce −3.7%	2,891	$1,234	$3.6M	−112	−$22K
MSTR, Microstrategy	0.08%, was 0.09%	Reduce −3.5%	373,441	$9.55	$3.6M	−13,667	−$359K
PTEN, Patterson Uti Energy	0.08%	Hold	414,076	$8.45	$3.5M	—	—
IAC, IAC Interactivecorp	0.08%	Reduce −0.1%	26,422	$130.72	$3.5M	−17	+$9K
DHR, Danaher	0.08%	Reduce −2.0%	10,382	$329.03	$3.4M	−207	+$192K
JNJ, Johnson & Johnson	0.07%	Add 0.0%	18,573	$171.05	$3.2M	+1	+$178K
PFE, Pfizer	0.07%, was 0.05%	Add +0.4%	53,506	$59.06	$3.2M	+189	+$867K
SATS, Echostar	0.07%, was 0.08%	Reduce −16.6%	118,722	$26.35	$3.1M	−23,700	−$505K
DBL, Doubleline Opportunistic CR	0.07%, was 0.12%	Reduce −37.9%	162,631	$19.17	$3.1M	−99,371	−$2M
MSFT, Microsoft	0.07%, was 0.06%	Add +5.5%	9,214	$336.34	$3.1M	+478	+$636K
NBB, Nuveen Build American	0.07%	Reduce −0.3%	135,842	$22.70	$3.1M	−366	−$37K
EPD, Enterprise Products Partners	0.07%	Add +0.5%	136,355	$21.96	$3M	+622	+$57K
BMY, Bristol Myers Squibb	0.07%, was 0.06%	Add +2.1%	47,984	$62.35	$3M	+975	+$210K
XOM, Exxon Mobil	0.06%	Add +1.1%	47,940	$61.18	$2.9M	+518	+$144K
IGSB, iShares Trust	0.06%	Hold	54,000	$53.89	$2.9M	—	—
Costamare	0.06%	Add +2.9%	227,137	$12.65	$2.9M	+6,400	−$546K
AMLP, Alps ETF Trust	0.06%, was 0.01%	Add +1088.7%	87,378	$32.74	$2.9M	+80,027	+$2.6M
Discovery	0.06%, was 0.07%	Reduce −2.7%	120,342	$23.54	$2.8M	−3,315	−$305K
NAD, Nuveen Quality Muncp Income	0.06%	Hold	170,276	$16.11	$2.7M	—	—
MRK, Merck	0.06%	Add 0.0%	35,397	$76.64	$2.7M	+2	+$54K
Ritchie Bros Auctioneers	0.06%, was 0.07%	Reduce −12.9%	42,577	$61.21	$2.6M	−6,319	−$409K
LVS, Las Vegas Sands	0.06%	Reduce −7.3%	69,089	$37.65	$2.6M	−5,420	−$126K
GDXJ, Vaneck ETF Trust	0.06%	Reduce −1.6%	60,082	$41.93	$2.5M	−979	+$178K
XCXEX, MFS High Income Mun Trust	0.05%, was 0.06%	Reduce −0.4%	486,700	$5.09	$2.5M	−1,914	−$93K
RMT, Royce Micro-Cap Trust	0.05%, was 0.09%	Reduce −35.4%	213,270	$11.55	$2.5M	−116,705	−$1.3M
AAPL, Apple	0.05%	Reduce −0.5%	13,504	$177.58	$2.4M	−70	+$477K
SEE, Sealed Air	0.05%	Hold	35,385	$67.46	$2.4M	—	—
CSCO, Cisco	0.05%	Hold	37,507	$63.37	$2.4M	—	—
BN, Brookfield Corporation	0.05%	Reduce −1.0%	38,730	$60.81	$2.4M	−400	+$159K
MKTX, Marketaxess	0.05%	Add +10.7%	5,704	$411.29	$2.3M	+550	+$178K
INFL, Listed Fund Trust	0.05%	Add +1.9%	72,685	$31.22	$2.3M	+1,355	+$186K
BGC Partners	0.05%, was 0.18%	Reduce −68.1%	484,205	$4.65	$2.3M	−1,031,694	−$5.6M
MHD	0.05%	Reduce −0.1%	134,028	$16.76	$2.2M	−166	+$49K
FNF, Fidelity National Financial	0.05%	Hold	42,436	$52.17	$2.2M	—	—
DORM, Dorman Products	0.05%	Reduce −3.5%	19,036	$113.00	$2.2M	−700	+$283K
PM, Philip Morris International	0.05%	Add +0.6%	22,433	$94.99	$2.1M	+125	+$16K
KLAC, KLA	0.05%	Reduce −1.2%	4,904	$430.06	$2.1M	−61	+$448K
ABT, Abbott Laboratories	0.05%	Hold	14,916	$140.72	$2.1M	—	—
SPY, SPDR S&P 500 ETF Trust	0.05%	Reduce −15.5%	4,415	$474.97	$2.1M	−808	−$144K
LLY, Eli Lilly	0.04%, was 0.05%	Reduce −11.9%	7,386	$276.20	$2M	−1,000	+$102K
BSM	0.04%, was 0.06%	Reduce −5.3%	195,310	$10.33	$2M	−11,037	−$468K
LHX, L3Harris	0.04%, was 0.05%	Reduce −0.1%	9,426	$213.24	$2M	−9	−$68K
OPLN, Kar Auction Services	0.04%, was 0.05%	Reduce −4.1%	124,681	$15.62	$1.9M	−5,316	−$183K
MO, Altria	0.04%	Add +0.6%	41,014	$47.40	$1.9M	+250	+$88K
ET, Energy Transfer	0.04%	Add +0.6%	236,039	$8.23	$1.9M	+1,344	−$305K
VXF, Vanguard Index Funds	0.04%, was 0.01%	Add +300.2%	10,502	$182.82	$1.9M	+7,878	+$1.4M
VOO, Vanguard S&P 500 ETF	0.04%	Reduce −4.3%	4,340	$436.64	$1.9M	−195	+$106K
SII, Sprott	0.04%	New	41,739	$45.09	$1.9M	+41,739	+$1.9M
CVX, Chevron	0.04%	Add +0.2%	15,909	$117.35	$1.9M	+25	+$256K
REZI, Resideo Technologies	0.04%	Hold	71,722	$26.03	$1.9M	—	—
Mantech International	0.04%	Hold	25,000	$72.92	$1.8M	—	—
VCSH, Vanguard Scottsdale Funds	0.04%	Hold	21,838	$81.28	$1.8M	—	—
GDX, Vaneck ETF Trust	0.04%, was 0.06%	Reduce −36.0%	55,018	$32.03	$1.8M	−30,892	−$770K
NVS, Novartis	0.04%	Reduce −4.2%	20,050	$87.48	$1.8M	−880	+$42K
Navigator	0.04%, was 0.13%	Reduce −69.6%	193,741	$8.87	$1.7M	−443,519	−$4M
EXPE, Expedia	0.04%	Hold	9,433	$180.75	$1.7M	—	—
Equity Commonwealth	0.04%	Reduce −3.4%	64,633	$25.90	$1.7M	−2,242	−$63K
Discovery	0.04%	Reduce −0.1%	70,265	$22.90	$1.6M	−100	−$99K
ROK, Rockwell Automation	0.03%	Hold	4,503	$348.88	$1.6M	—	—
GM, General Motors	0.03%	Hold	26,225	$58.65	$1.5M	—	—
EMR, Emerson Electric	0.03%	Hold	16,306	$92.97	$1.5M	—	—
UNP, Union Pacific	0.03%	Reduce 0.0%	6,015	$251.87	$1.5M	−2	+$336K
MSTR, Pimco Income Strategy Fund	0.03%, was 0.04%	Reduce −8.6%	135,326	$10.97	$1.5M	−12,780	−$236K
NEM, Newmont	0.03%	Reduce −12.9%	23,814	$62.02	$1.5M	−3,513	−$7K
VZ, Verizon	0.03%	Add +7.6%	28,231	$51.96	$1.5M	+2,000	+$50K
SU, Suncor Energy	0.03%	Add +1.0%	58,079	$25.03	$1.5M	+600	+$262K
WOOD, iShares Trust	0.03%	Reduce −1.1%	15,797	$91.98	$1.5M	−179	+$95K
Liberty Media	0.03%	Reduce −0.3%	51,672	$28.10	$1.5M	−150	+$83K
CVS, CVS Health	0.03%	Add 0.0%	14,042	$103.19	$1.4M	+1	+$257K
BLK, BlackRock	0.03%	Reduce −0.4%	102,442	$14.02	$1.4M	−421	+$16K
TD, Toronto-Dominion Bank	0.03%	Add +0.3%	18,100	$76.69	$1.4M	+50	+$194K
Colfax	0.03%, was 0.04%	Reduce −15.2%	30,156	$45.96	$1.4M	−5,400	−$246K
BAC, Bank of America	0.03%	Hold	31,126	$44.50	$1.4M	—	—
CAT, Caterpillar	0.03%	Add +0.4%	6,618	$206.71	$1.4M	+25	+$102K
NRK, Nuveen NY Amt QLT Muni	0.03%	Hold	98,746	$13.79	$1.4M	—	—
NSC, Norfolk Southern	0.03%	Hold	4,566	$297.63	$1.4M	—	—
CSW, CSW Industrials	0.03%	Hold	11,200	$120.89	$1.4M	—	—
IRM, Iron Mountain	0.03%	Add +1.4%	25,208	$52.32	$1.3M	+350	+$239K
FHI, Federated Hermes	0.03%	Reduce −3.9%	34,414	$37.57	$1.3M	−1,404	+$129K
MDLZ, Mondelez	0.03%	Reduce −5.3%	19,254	$66.32	$1.3M	−1,081	+$94K
MOV, Movado Group	0.03%	Reduce −1.6%	29,400	$41.84	$1.2M	−480	+$289K
Dish Network	0.03%, was 0.04%	Reduce −5.3%	37,853	$32.44	$1.2M	−2,139	−$510K
Lendingtree	0.03%	Add +21.5%	10,000	$122.60	$1.2M	+1,767	+$75K
HON, Honeywell	0.03%	Hold	5,717	$208.50	$1.2M	—	—
INTC, Intellia Therapeutics	0.03%	Hold	10,000	$118.20	$1.2M	—	—
SON, Sonoco Products	0.03%	Add +1.3%	20,000	$57.90	$1.2M	+250	−$19K
Viacomcbs	0.03%, was 0.02%	Add +63.4%	38,258	$30.19	$1.2M	+14,850	+$230K
ABBNY, ABB	0.03%	Hold	29,987	$38.18	$1.1M	—	—
MCD, McDonald's	0.02%	Reduce 0.0%	4,207	$268.12	$1.1M	−2	+$113K
BLK, BlackRock	0.02%, was 0.03%	Reduce −0.4%	74,192	$15.16	$1.1M	−304	−$8K
NZF, Nuveen Municipal Credit	0.02%	Hold	65,021	$17.10	$1.1M	—	—
Lions Gate Entmnt	0.02%, was 0.06%	Reduce −61.7%	71,804	$15.39	$1.1M	−115,531	−$1.3M
RCL, Royal Caribbean	0.02%, was 0.03%	Reduce −7.0%	13,926	$76.91	$1.1M	−1,045	−$261K
Holding	0.02%	Hold	71,660	$14.92	$1.1M	—	—
WPC, W P Carey	0.02%	Add +2.1%	12,400	$82.02	$1M	+250	+$130K
PCH, Potlatchdeltic	0.02%	Add +3.2%	16,748	$60.25	$1M	+521	+$172K
RTX	0.02%	Hold	11,637	$86.02	$1M	—	—
RQI, Cohen & Steers Quality Realty	0.02%	Hold	54,233	$18.22	$988K	—	—
AMGN, Amgen	0.02%	Hold	4,389	$224.88	$987K	—	—
Gladstone LD	0.02%	Hold	29,068	$33.75	$981K	—	—
Black Knight	0.02%	Add +2.9%	11,772	$82.91	$976K	+334	+$152K
CMS, CMS Energy	0.02%	Hold	14,575	$65.04	$948K	—	—
DIS, Disney	0.02%	Reduce −0.5%	6,063	$154.87	$939K	−30	−$92K
Liberty Media	0.02%	Reduce −1.4%	32,611	$28.76	$938K	−448	+$48K
Scripps E W Co. Ohio	0.02%	Hold	48,000	$19.35	$929K	—	—
MYI	0.02%	Reduce −0.7%	62,279	$14.82	$923K	−412	+$3K
BIIB, Biogen	0.02%, was 0.03%	Reduce −3.2%	3,750	$240.00	$900K	−125	−$197K
AZNN	0.02%	Hold	15,263	$58.25	$889K	—	—
BX, Blackstone	0.02%	Hold	6,700	$129.40	$867K	—	—
NVO, Novo Nordisk	0.02%	Hold	7,740	$112.02	$867K	—	—
WTM, White Mountains Insurance Group	0.02%, was 0.03%	Reduce −23.1%	834	$1,014	$846K	−251	−$315K
ADI, Analog Devices	0.02%	Hold	4,750	$175.79	$835K	—	—
BR, Broadridge Financial	0.02%	Hold	4,564	$182.73	$834K	—	—
DGX, Quest Diagnostics	0.02%	Reduce −1.0%	4,812	$173.11	$833K	−50	+$127K
GILD, Gilead Sciences	0.02%	Hold	11,017	$72.62	$800K	—	—
RYN, Rayonier Advanced Materials	0.02%	Add +0.4%	140,050	$5.71	$800K	+500	−$247K
XFRAX	0.02%	Hold	59,300	$13.42	$796K	—	—
VTI, Vanguard Index Funds	0.02%	Hold	3,298	$241.36	$796K	—	—
IVZ, Invesco	0.02%	Reduce −0.7%	57,675	$13.59	$784K	−380	+$19K
OIH, Vaneck ETF Trust	0.02%	Add +0.3%	4,243	$184.77	$784K	+12	−$50K
CF Acquisition Corporation VI	0.02%	New	69,785	$10.83	$756K	+69,785	+$756K
SPSB, SPDR Ser Trust	0.02%	Hold	24,000	$30.96	$743K	—	—
NAN, Nuveen NY QLT Mun	0.02%	Hold	50,071	$14.80	$741K	—	—
GE, GE Aerospace	0.02%	Reduce −2.4%	7,754	$94.53	$733K	−190	−$85K
PEP, PepsiCo	0.02%	Reduce −0.1%	4,212	$173.79	$732K	−3	+$98K
ALCO, Alico	0.02%	Reduce −5.8%	19,600	$37.04	$726K	−1,200	+$14K
GLD, SPDR Gold Shares	0.02%	Reduce −0.9%	4,197	$171.07	$718K	−40	+$22K
GSK	0.02%	Reduce −3.0%	16,200	$44.07	$714K	−500	+$76K
TFX, Teleflex	0.02%	Hold	2,126	$328.32	$698K	—	—
Vimeo	0.02%, was 0.03%	Reduce −2.4%	38,588	$17.96	$693K	−932	−$468K
SLV, iShares Silver Trust	0.02%	Reduce −1.2%	32,098	$21.50	$690K	−380	+$24K
MTCH, Match Group	0.01%, was 0.02%	Reduce −0.3%	5,129	$132.19	$678K	−17	−$130K
BTZ	0.01%	Hold	44,576	$15.05	$671K	—	—
RCG, Renn Fund	0.01%	Add +21.2%	246,667	$2.65	$654K	+43,200	+$119K
RSP	0.01%	Reduce −0.7%	4,013	$162.72	$653K	−30	+$47K
SNY, Sanofi	0.01%, was 0.02%	Reduce −23.5%	13,000	$50.08	$651K	−4,000	−$169K
GHC, Graham	0.01%	Reduce −0.9%	1,008	$629.96	$635K	−9	+$36K
FHI, Federated Hermes	0.01%	Hold	41,657	$15.03	$626K	—	—
KRP, Kimbell Rty Partners	0.01%, was 0.03%	Reduce −46.7%	45,603	$13.64	$622K	−40,011	−$588K
BN, Brookfield Corporation	0.01%	Reduce −1.9%	9,912	$62.65	$621K	−195	+$59K
Nuveen Sr Income Fund	0.01%	Hold	105,209	$5.90	$621K	—	—
SPGI, S&P Global	0.01%	Hold	1,315	$472.24	$621K	—	—
IVZ, Invesco	0.01%	Reduce −0.2%	36,075	$17.05	$615K	−88	+$25K
JPM, JPMorgan Chase	0.01%, was 0.02%	Reduce −27.1%	12,084	$50.48	$610K	−4,482	−$230K
BLK, BlackRock	0.01%	Hold	40,758	$14.87	$606K	—	—
VMI, Valmont Industries	0.01%	Hold	2,300	$250.43	$576K	—	—
BLK, BlackRock	0.01%	Hold	22,050	$25.94	$572K	—	—
Nuveen Floating Rate Income	0.01%	Reduce −2.0%	55,869	$10.13	$566K	−1,115	−$3K
AJG, Arthur J. Gallagher	0.01%	Reduce −4.9%	3,329	$169.72	$565K	−172	+$45K
Holding	0.01%	Hold	44,652	$12.30	$549K	—	—
LIN, Linde	0.01%	Hold	1,583	$346.18	$548K	—	—
NBH, Neuberger Berman Muni Fund	0.01%	Hold	35,562	$15.33	$545K	—	—
LEN, Lennar	0.01%	Add +1.1%	4,635	$116.07	$538K	+50	+$108K
BAX, Baxter International	0.01%	Reduce −13.7%	6,250	$85.76	$536K	−993	−$47K
SYK, Stryker	0.01%	Hold	2,000	$267.50	$535K	—	—
INTC, Intel	0.01%	Add +6.7%	10,369	$51.50	$534K	+650	+$16K
NVDA, Nvidia	0.01%	Hold	1,760	$294.32	$518K	—	—
Bakkt	0.01%	New	60,400	$8.51	$514K	+60,400	+$514K
ALKS, Alkermes	0.01%	Hold	22,000	$23.27	$512K	—	—
SHV, iShares Trust	0.01%, was 0.02%	Reduce −41.7%	4,641	$110.32	$512K	−3,314	−$367K
KMB, Kimberly-Clark	0.01%	Hold	3,566	$143.02	$510K	—	—
ALNY, Alnylam Pharmaceuticals	0.01%	Hold	3,000	$169.67	$509K	—	—
Perkinelmer	0.01%	Hold	2,445	$201.23	$492K	—	—
Pimco ETF Trust	0.01%	Hold	4,730	$101.48	$480K	—	—
BLK, BlackRock	0.01%	Reduce −0.7%	32,065	$14.50	$465K	−215	$—
CRSP, Crispr Therapeutics	0.01%	Hold	6,125	$75.76	$464K	—	—
MPC, Marathon Petroleum	0.01%	Hold	7,220	$63.99	$462K	—	—
IFF, International Flavors & Fragrances	0.01%	Hold	3,050	$150.49	$459K	—	—
GS, Goldman Sachs	0.01%	Hold	1,193	$382.23	$456K	—	—
JPM, JPMorgan Chase	0.01%	Reduce −0.2%	2,867	$158.35	$454K	−7	−$16K
BLK, BlackRock	0.01%	Hold	46,440	$9.56	$444K	—	—
CNP, Centerpoint Energy	0.01%	Hold	15,472	$27.92	$432K	—	—
CSWC, Capital Southwest	0.01%	Hold	17,000	$25.29	$430K	—	—
SEB, Seaboard	0.01%	Add +2.8%	109	$3,936	$429K	+3	−$6K
AMT, American Tower	0.01%	Hold	1,431	$292.80	$419K	—	—
Arena Pharmaceuticals	0.01%	Hold	4,500	$92.89	$418K	—	—
BK, BNY	0.01%	Hold	7,194	$58.10	$418K	—	—
MTN, Vail Resorts	0.01%	Hold	1,262	$328.05	$414K	—	—
Welbilt	0.01%	Hold	17,000	$23.76	$404K	—	—
RA	0.01%	Hold	18,862	$21.10	$398K	—	—
FIS, Fidelity National Information Services	0.01%	Add +1.1%	3,550	$109.01	$387K	+40	−$40K
L, Loews	0.01%	Reduce −1.2%	6,678	$57.80	$386K	−78	+$22K
Neuberger Berman NY Mun Fund	0.01%	Reduce −0.4%	29,442	$13.01	$383K	−107	−$5K
VTRS, Viatris	0.01%	Add +103.6%	28,288	$13.54	$383K	+14,392	+$195K
IAU, iShares Gold Trust	0.01%	Reduce −1.6%	10,934	$34.85	$381K	−180	+$10K
NVG	0.01%	Hold	21,176	$17.94	$380K	—	—
CMCSA, Comcast	0.01%	Hold	7,517	$50.29	$378K	—	—
KKR	0.01%	Hold	5,058	$74.54	$377K	—	—
BELFB, Bel Fuse	0.01%	Hold	28,988	$12.94	$375K	—	—
GBX, Greenbrier Companies	0.01%	Add +10.1%	8,150	$45.89	$374K	+750	+$56K
Holding	0.01%	Hold	27,225	$13.59	$370K	—	—
BXMT	0.01%	Add +1.7%	11,888	$30.62	$364K	+200	+$10K
IBM	0.01%	New	2,720	$133.82	$364K	+2,720	+$364K
ACN, Accenture	0.01%	Reduce −2.8%	869	$414.27	$360K	−25	+$74K
GPC, Genuine Parts	0.01%	Add +4.2%	2,500	$140.00	$350K	+100	+$59K
BN, Brookfield Corporation	0.01%	Reduce −0.5%	5,078	$68.33	$347K	−25	+$41K
SBR, Sabine Royalty Trust	0.01%	Reduce −0.2%	8,292	$41.73	$346K	−20	−$10K
QCOM, Qualcomm	0.01%	New	1,887	$182.83	$345K	+1,887	+$345K
Maverix Metals	0.01%	Reduce −0.2%	78,834	$4.36	$344K	−119	−$9K
EOG, EOG Resources	0.01%	Hold	3,782	$88.84	$336K	—	—
BLK, BlackRock	0.01%	Hold	21,411	$14.76	$316K	—	—
COIN, Coinbase	0.01%	Hold	1,251	$252.60	$316K	—	—
KHC, Kraft Heinz	0.01%	Add +5.4%	8,796	$35.93	$316K	+450	+$9K
Nuveen Int Dur Qual Mun TRM	0.01%	Hold	21,130	$14.77	$312K	—	—
ETN, Eaton	0.01%	Hold	24,865	$12.15	$302K	—	—
AMZN, Amazon	0.01%	New	89	$3,337	$297K	+89	+$297K
CCI, Crown Castle	0.01%	New	1,420	$208.45	$296K	+1,420	+$296K
ETN, Eaton	0.01%	Hold	20,001	$14.75	$295K	—	—
PCM, PCM Fund	0.01%	Hold	27,510	$10.72	$295K	—	—
IWC, iShares Trust	0.01%	Reduce −9.8%	2,046	$139.78	$286K	−223	−$41K
ETN, Eaton	0.01%	Hold	20,955	$13.60	$285K	—	—
MMM, 3M	0.01%	Hold	1,591	$177.88	$283K	—	—
BLK, BlackRock	0.01%	Hold	18,053	$15.62	$282K	—	—
NEE, NextEra Energy	0.01%	Hold	3,020	$93.38	$282K	—	—
WYNN, Wynn Resorts	0.01%	Add +10.2%	3,252	$85.18	$277K	+300	+$27K
IVZ, Invesco	0.01%	Reduce −3.1%	3,805	$72.01	$274K	−120	−$8K
FTV, Fortive	0.01%	Reduce −1.2%	3,561	$76.38	$272K	−44	+$18K
DE, Deere	0.01%	Hold	790	$343.04	$271K	—	—
Holding	0.01%	New	8,000	$32.88	$263K	+8,000	+$263K
IVZ, Invesco	0.01%	Reduce −0.9%	3,300	$77.58	$256K	−30	−$2K
CL, Colgate-Palmolive	0.01%	Hold	2,978	$85.29	$254K	—	—
Nektar Therapeutics	0.01%	Add +29.4%	18,630	$13.53	$252K	+4,230	−$7K
Pioneer Mun High Income Fund	0.01%	Reduce −16.6%	20,633	$12.21	$252K	−4,112	−$48K
ETN, Eaton	0.01%	New	1,444	$173.13	$250K	+1,444	+$250K
PHYS, Sprott Physical Gold Trust	0.01%	Hold	17,259	$14.37	$248K	—	—
PACB	0.01%	Hold	12,000	$20.50	$246K	—	—
GIS, General Mills	0.01%	Reduce −7.7%	3,600	$67.50	$243K	−300	+$10K
IONS, Ionis Pharmaceuticals	0.01%	Hold	8,000	$30.38	$243K	—	—
TSLA, Tesla	0.01%	New	228	$1,057	$241K	+228	+$241K
RIO, Rio Tinto	0.01%	New	3,575	$66.85	$239K	+3,575	+$239K
XES, SPDR Ser Trust	0.01%	Reduce −33.4%	4,828	$49.50	$239K	−2,418	−$155K
BN, Brookfield Corporation	0.01%	Hold	5,025	$45.97	$231K	—	—
NIM, Nuveen Select Mat Mun Fund	0.01%	Hold	21,500	$10.70	$230K	—	—
PML, Pimco Mun Income Fund II	0.00%	Hold	15,050	$14.62	$220K	—	—
NWL, Newell Brands	0.00%, was 0.01%	Reduce −5.8%	9,882	$21.86	$216K	−606	−$16K
Holding	0.00%	Hold	22,113	$9.72	$215K	—	—
CCL, Carnival	0.00%, was 0.01%	Reduce −4.1%	10,629	$20.13	$214K	−450	−$63K
EDIT, Editas Medicine	0.00%	Hold	8,050	$26.58	$214K	—	—
DOW, DOW Inc	0.00%	Add +0.2%	3,689	$56.65	$209K	+6	−$3K
VSAT, Viasat	0.00%, was 0.02%	Reduce −65.3%	4,603	$44.54	$205K	−8,665	−$526K
LILA, Liberty Latin America	0.00%	Hold	16,578	$11.40	$189K	—	—
NMZ	0.00%	Hold	12,099	$15.13	$183K	—	—
BGT	0.00%	Hold	12,678	$13.96	$177K	—	—
ETN, Eaton	0.00%	Reduce −0.3%	13,287	$13.10	$174K	−45	−$2K
BLK, BlackRock	0.00%	Reduce −3.0%	10,204	$15.09	$154K	−311	−$5K
Annaly Cap Management	0.00%	Hold	19,197	$7.81	$150K	—	—
ETN, Eaton	0.00%	Hold	21,764	$6.75	$147K	—	—
DNP, DNP Select Income Fund	0.00%	Hold	13,113	$10.91	$143K	—	—
IVZ, Invesco	0.00%	Hold	10,414	$13.44	$140K	—	—
Holding	0.00%, was 0.01%	Reduce −55.0%	16,817	$7.79	$131K	−20,525	−$168K
NUV, Nuveen Mun Value Fund	0.00%	Hold	12,441	$10.37	$129K	—	—
SAN	0.00%	Reduce −45.6%	22,910	$3.27	$75K	−19,169	−$77K
GCI, Gannett	0.00%	Hold	10,075	$5.36	$54K	—	—
GALT, Galectin Therapeutics	0.00%	Hold	24,000	$2.08	$50K	—	—
IVZ, Invesco Sr Income Trust	0.00%	Hold	11,113	$4.32	$48K	—	—
Nucana	0.00%	Hold	19,467	$2.36	$46K	—	—
Ziopharm Oncology	0.00%	Hold	34,000	$1.09	$37K	—	—

Showing top 50 of 335 by value

Exits / last held

Gone since 2021 Q3, shown at their last reported size.

Stock	% of portfolio	Recent activity	Reported price*	Value	Share change	$ change
LNG, Cheniere Energy	1.16%	Exit	$97.67	$50M	−508,720	−$50M
Pimco Income Opportunity Fund	0.04%	Exit	$24.51	$1.6M	−65,861	−$1.6M
Pimco Dynamic CR Income Fund	0.02%	Exit	$21.12	$909K	−43,042	−$909K
Holding	0.01%	Exit	$10.11	$527K	−52,147	−$527K
T, AT&T	0.01%	Exit	$26.97	$282K	−10,456	−$282K
Stoneco	0.01%	Exit	$34.67	$272K	−7,845	−$272K
XYZ, Block	0.01%	Exit	$239.81	$253K	−1,055	−$253K
Holding	0.01%	Exit	$24.01	$235K	−9,789	−$235K
Holding	—	Exit	$7.27	$150K	−20,636	−$150K
Greenlane	—	Exit	$2.40	$24K	−10,000	−$24K

Filings history

20 periods, with AUM normalized

Newest 13Fs

Period	Holds	AUM	QoQ	Form	Filed	Filing ID
2026 Q2	351	$8.8B	−4.5%	13F-HR	8/11/2026	000139834426014047
2026 Q1	353	$9.2B	+24.9%	13F-HR	5/15/2026	000139834426009239
2025 Q4	324	$7.4B	−9.9%	13F-HR	2/11/2026	000105682326000007
2025 Q3	336	$8.2B	−2.7%	13F-HR	11/14/2025	000105682325000029
2025 Q2	352	$8.4B	−4.3%	13F-HR	8/12/2025	000105682325000019
2025 Q1	347	$8.8B	+9.7%	13F-HR	5/15/2025	000105682325000010
2024 Q4	349	$8B	+20.2%	13F-HR	2/10/2025	000105682325000001
2024 Q3	346	$6.7B	+16.8%	13F-HR	11/13/2024	000105682324000019
2024 Q2	324	$5.7B	+8.2%	13F-HR	8/14/2024	000105682324000016
2024 Q1	323	$5.3B	+10.7%	13F-HR	5/14/2024	000105682324000013
2023 Q4	325	$4.8B	−5.4%	13F-HR	2/15/2024	000105682324000011
2023 Q3	331	$5B	+8.7%	13F-HR	11/14/2023	000105682323000057
2023 Q2	334	$4.6B	−10.8%	13F-HR	8/14/2023	000105682323000044
2023 Q1	334	$5.2B	−11.9%	13F-HR	5/12/2023	000105682323000019
2022 Q4	324	$6.1B	—	RESTATEMENT	2/9/2023	000105682323000011
2022 Q4	324	$5.9B	+19.0%	13F-HR	2/7/2023	000105682323000010
2022 Q3	329	$5B	+4.0%	13F-HR	11/15/2022	000105682322000018
2022 Q2	336	$4.8B	−3.8%	13F-HR	8/5/2022	000105682322000017
2022 Q1	345	$5B	+9.3%	13F-HR	5/13/2022	000105682322000016
2021 Q4	349	$4.5B	+6.1%	13F-HR	2/15/2022	000105682322000015
2021 Q3	338	$4.3B	—	13F-HR	11/15/2021	000105682321000020

About

Horizon Kinetics Asset Management LLC

21 processed 13Fs on this site, 2021 Q3 to 2026 Q2

Notable person: Murray Stahl
SEC filing name: HORIZON KINETICS ASSET MANAGEMENT LLC
Location: New York, NY
All SEC filings: View on sec.gov