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

2022 Q1 2021 Q4, filed 13 May, long equity only

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TPL, Texas Pacific Land	41.31%, was 41.72%	Reduce −0.1%	1,516,502	$1,352	$2.1B	−953	+$155M
FNV, Franco Nevada	3.48%, was 2.99%	Add +10.1%	1,083,060	$159.52	$173M	+99,555	+$37M
WPM, Wheaton Precious Metals	3.19%, was 2.93%	Add +7.1%	3,324,297	$47.58	$158M	+221,587	+$25M
CACI, CACI International	2.88%, was 2.75%	Add +2.4%	474,540	$301.26	$143M	+11,198	+$18M
ICE, Intercontinental Exchange	2.69%, was 2.62%	Add +15.8%	1,009,045	$132.12	$133M	+137,646	+$14M
BN, Brookfield Corporation	2.58%	Add +9.0%	2,266,094	$56.57	$128M	+187,959	+$2.7M
ADM, Archer-Daniels-Midland	1.79%, was 1.15%	Add +27.1%	983,882	$90.26	$89M	+209,718	+$36M
CVEO, Civeo Corporation Cda	1.68%, was 1.47%	Add +1.1%	3,528,221	$23.61	$83M	+39,579	+$16M
CRL, Charles River Labs International	1.57%	Add +21.1%	275,239	$283.97	$78M	+47,933	−$7.5M
HHH, Howard Hughes	1.48%, was 1.64%	Reduce −3.5%	707,529	$103.61	$73M	−25,349	−$1.3M
LYV, Live Nation Entertainment	1.35%, was 1.62%	Reduce −6.7%	571,785	$117.64	$67M	−41,336	−$6.1M
MSB, Mesabi Trust	1.34%, was 1.24%	Add +17.1%	2,494,497	$26.64	$66M	+364,751	+$10M
Viper Energy Partners	1.31%, was 0.73%	Add +40.7%	2,203,014	$29.57	$65M	+637,210	+$32M
CME, CME Group	1.18%, was 1.06%	Add +16.5%	245,675	$237.86	$58M	+34,753	+$10M
SVXY, Proshares Trust II	1.07%	Add +1.7%	971,841	$54.56	$53M	+16,605	−$5.8M
Associated Cap Group	1.06%	Add +0.5%	1,260,329	$41.91	$53M	+6,762	−$1.1M
Brigham Minerals	1.01%, was 0.67%	Add +35.7%	1,957,136	$25.55	$50M	+514,638	+$20M
Sandstorm Gold	0.98%, was 0.75%	Add +10.4%	6,030,440	$8.08	$49M	+567,819	+$15M
CBOE, Cboe Global Markets	0.96%, was 1.20%	Reduce −0.5%	416,427	$114.42	$48M	−2,003	−$6.9M
NTR, Nutrien	0.93%, was 0.48%	Add +52.4%	443,614	$103.99	$46M	+152,591	+$24M
MMC, Marsh McLennan	0.84%, was 0.72%	Add +31.4%	245,536	$170.42	$42M	+58,663	+$9.4M
BG, Bunge	0.78%	New	351,540	$110.81	$39M	+351,540	+$39M
WST, West Fraser Timber	0.76%, was 0.74%	Add +30.6%	459,112	$82.43	$38M	+107,581	+$4.3M
SAIC, Science Applicatns International CP	0.74%	Reduce −1.5%	398,706	$92.17	$37M	−6,064	+$2.9M
AN, Autonation	0.74%, was 1.00%	Reduce −4.9%	368,195	$99.58	$37M	−18,775	−$8.6M
Liberty Medica	0.73%, was 0.92%	Reduce −2.9%	793,377	$45.73	$36M	−24,040	−$5.3M
WY, Weyerhaeuser	0.70%, was 0.62%	Add +35.1%	923,034	$37.90	$35M	+239,637	+$6.8M
CBRE, CBRE Group	0.70%, was 0.68%	Add +33.2%	378,418	$91.52	$35M	+94,254	+$3.8M
WEN, Wendys	0.65%, was 0.82%	Reduce −6.0%	1,470,569	$21.97	$32M	−93,757	−$5M
JOE, Saint Joe	0.63%, was 0.52%	Add +18.0%	531,594	$59.24	$31M	+81,082	+$8M
VRSK, Verisk	0.61%, was 0.56%	Add +27.5%	141,183	$214.63	$30M	+30,408	+$5M
Osisko Gold Royalties	0.59%, was 0.43%	Add +39.6%	2,233,892	$13.19	$29M	+633,710	+$9.9M
LBRDA, Liberty Broadband Series C	0.55%, was 0.85%	Reduce −15.5%	203,557	$135.32	$28M	−37,358	−$11M
DMLP, Dorchester Minerals	0.54%	Reduce −2.0%	1,029,906	$25.95	$27M	−20,528	+$5.9M
IEP, Icahn Enterprises	0.50%, was 0.58%	Reduce −9.2%	479,737	$51.93	$25M	−48,581	−$1.3M
PAG, Penske Automotive Group	0.45%, was 0.58%	Reduce −1.6%	239,926	$93.72	$22M	−3,991	−$3.7M
SPGI, S&P Global	0.44%, was 0.01%	Add +3930.4%	53,000	$410.19	$22M	+51,685	+$21M
CNS, Cohen & Steers	0.43%	Add +12.7%	247,443	$85.89	$21M	+27,818	+$935K
RGLD, Royal Gold	0.42%	Reduce −3.7%	148,342	$141.28	$21M	−5,635	+$4.8M
BRK.B, Berkshire Hathaway Class B	0.36%, was 0.37%	Reduce −9.6%	51,051	$352.90	$18M	−5,418	+$1.1M
Liberty Media	0.36%, was 0.45%	Reduce −3.6%	387,141	$45.71	$18M	−14,641	−$2.7M
OSK, Oshkosh	0.33%	Add 0.0%	162,337	$100.65	$16M	+62	−$2M
IPAR, Inter Parfums	0.33%, was 0.44%	Reduce −2.8%	183,639	$88.05	$16M	−5,208	−$4M
ELS, Equity Lifestyle Properties	0.31%, was 0.40%	Reduce −3.7%	199,621	$76.48	$15M	−7,750	−$2.9M
RPRX	0.31%, was 0.25%	Add +38.4%	390,918	$38.96	$15M	+108,381	+$4M
Liberty Media	0.30%	Reduce −1.5%	211,773	$69.84	$15M	−3,295	+$1.2M
TRC, Tejon Ranch	0.30%	Add +8.4%	807,510	$18.26	$15M	+62,848	+$537K
MA, Mastercard	0.28%, was 0.31%	Reduce −2.6%	38,583	$357.39	$14M	−1,048	−$451K
PBT, Permian Basin Rty Trust	0.28%, was 0.08%	Add +189.1%	1,101,387	$12.51	$14M	+720,366	+$9.9M
BA, Boeing	0.27%, was 0.31%	Reduce −0.8%	68,813	$191.50	$13M	−581	−$792K
SII, Sprott	0.23%, was 0.04%	Add +444.4%	227,223	$50.24	$11M	+185,484	+$9.5M
Liberty Media	0.21%, was 0.22%	Reduce −0.9%	168,118	$63.13	$11M	−1,537	+$546K
EBAY, eBay	0.21%, was 0.27%	Reduce −1.7%	179,059	$57.26	$10M	−3,154	−$1.9M
Gamco Investors	0.20%	Add +4.8%	456,339	$22.11	$10M	+20,952	−$786K
Kraneshares Trust	0.20%	Add +16.0%	214,971	$46.66	$10M	+29,600	+$596K
Alleghany	0.18%	Reduce −8.4%	10,286	$846.98	$8.7M	−941	+$1.2M
CORZ, Core Scientific	0.17%	New	1,049,514	$8.23	$8.6M	+1,049,514	+$8.6M
VGSH, Vanguard Scottsdale Funds	0.17%, was 0.19%	Reduce −2.5%	139,111	$59.26	$8.2M	−3,499	−$431K
GOOGL, Alphabet Class A	0.16%, was 0.19%	Reduce −1.0%	2,919	$2,781	$8.1M	−29	−$422K
GOOG, Alphabet Class C	0.16%, was 0.18%	Reduce −1.1%	2,785	$2,792	$7.8M	−30	−$367K
NDAQ, Nasdaq	0.15%	Add +0.3%	40,456	$178.19	$7.2M	+136	−$1.3M
MSGS, MSG Sports	0.14%, was 0.15%	Reduce −0.5%	39,062	$179.36	$7M	−211	+$183K
XNEAX, Nuveen Amt Free Qlty Mun	0.14%, was 0.18%	Reduce 0.0%	532,289	$13.14	$7M	−106	−$1.3M
V, Visa	0.13%, was 0.14%	Reduce 0.0%	29,562	$221.77	$6.6M	−12	+$147K
Iaa	0.13%	Add +2.9%	169,769	$38.25	$6.5M	+4,770	−$1.9M
PTEN, Patterson Uti Energy	0.13%	Hold	414,076	$15.48	$6.4M	—	—
MSTR, Microstrategy	0.12%	Add +0.8%	12,327	$486.33	$6M	+98	−$664K
BRK.A, Berkshire Hathaway Class A	0.12%	Hold	11	$528,909	$5.8M	—	—
FCX, Freeport-McMoRan	0.11%	Reduce −1.6%	112,187	$49.74	$5.6M	−1,786	+$824K
RYN, Rayonier	0.10%	Add +3.4%	126,496	$41.12	$5.2M	+4,196	+$266K
Catchmark Timber Trust	0.10%, was 0.09%	Add +18.6%	578,283	$8.20	$4.7M	+90,530	+$494K
WMB, Williams Companies	0.09%	Reduce −0.3%	138,884	$33.41	$4.6M	−379	+$1M
ABBV, AbbVie	0.09%	Reduce −0.7%	28,368	$162.12	$4.6M	−200	+$731K
AMCX, AMC Networks	0.09%, was 0.10%	Reduce −11.9%	111,883	$40.63	$4.5M	−15,044	+$175K
SPHR	0.09%	Reduce −1.5%	53,354	$83.31	$4.4M	−813	+$635K
MKL, Markel Group	0.08%	Reduce −3.0%	2,804	$1,475	$4.1M	−87	+$570K
APYX, Apyx Medical	0.08%	Hold	615,000	$6.53	$4M	—	—
LBRDA, Liberty Broadband Series A	0.08%, was 0.17%	Reduce −35.1%	30,322	$131.06	$4M	−16,421	−$3.5M
XOM, Exxon Mobil	0.08%	Reduce −1.0%	47,440	$82.59	$3.9M	−500	+$985K
PDI, Pimco Dynamic Income Fund	0.08%, was 0.09%	Reduce −0.8%	160,435	$24.37	$3.9M	−1,265	−$280K
Costamare	0.08%	Reduce −0.3%	226,537	$17.05	$3.9M	−600	+$989K
DSL, Doubleline Income Solutions	0.07%, was 0.09%	Reduce −2.2%	241,637	$14.52	$3.5M	−5,387	−$473K
BMY, Bristol Myers Squibb	0.07%	Reduce −0.3%	47,864	$73.04	$3.5M	−120	+$504K
TCOM, Tri Pointe Homes	0.07%, was 0.11%	Reduce −1.0%	171,312	$20.08	$3.4M	−1,800	−$1.4M
AMLP, Alps ETF Trust Alerian MLP	0.07%, was 0.06%	Add +2.0%	89,120	$38.30	$3.4M	+1,742	+$552K
JNJ, Johnson & Johnson	0.07%	Reduce −0.1%	18,554	$177.21	$3.3M	−19	+$111K
MSTR, Pimco Income Strategy Fund II	0.06%, was 0.08%	Reduce −3.7%	359,788	$8.68	$3.1M	−13,653	−$443K
EPD, Enterprise Products Partners	0.06%, was 0.07%	Reduce −12.9%	118,743	$25.81	$3.1M	−17,612	+$71K
Discovery	0.06%	Reduce −1.5%	118,493	$24.92	$3M	−1,849	+$120K
MRK, Merck	0.06%	Add +0.3%	35,499	$82.06	$2.9M	+102	+$200K
DHR, Danaher	0.06%, was 0.08%	Reduce −4.7%	9,893	$293.34	$2.9M	−489	−$514K
MSFT, Microsoft	0.06%, was 0.07%	Reduce −1.4%	9,088	$308.32	$2.8M	−126	−$297K
GDXJ, Vaneck Vectors ETF Trust	0.06%	Reduce −0.7%	59,688	$46.88	$2.8M	−394	+$279K
IGSB, iShares Trust	0.06%	Hold	54,000	$51.72	$2.8M	—	—
PFE, Pfizer	0.06%	Hold	53,506	$51.77	$2.8M	—	—
SATS, Echostar	0.06%, was 0.07%	Reduce −5.1%	112,622	$24.34	$2.7M	−6,100	−$387K
NBB, Nuveen Build American	0.05%, was 0.07%	Reduce −1.6%	133,649	$19.99	$2.7M	−2,193	−$412K
LVS, Las Vegas Sands	0.05%, was 0.06%	Reduce −0.9%	68,489	$38.87	$2.7M	−600	+$61K
DBL, Doubleline Opportunistic CR	0.05%, was 0.07%	Reduce −2.7%	158,318	$16.76	$2.7M	−4,313	−$465K
IAC, IAC Interactivecorp	0.05%, was 0.08%	Reduce −0.9%	26,193	$100.29	$2.6M	−229	−$827K
BSM	0.05%	Reduce −1.1%	193,089	$13.46	$2.6M	−2,221	+$581K
CVX, Chevron	0.05%	Reduce −0.8%	15,782	$162.84	$2.6M	−127	+$703K
Ritchie Bros Auctioneers	0.05%	Add +1.4%	43,169	$59.02	$2.5M	+592	−$58K
BN, Brookfield Corporation	0.05%	Reduce −3.1%	37,530	$66.24	$2.5M	−1,200	+$131K
SEE, Sealed Air	0.05%	Reduce −0.7%	35,135	$66.97	$2.4M	−250	−$34K
LHX, L3Harris	0.05%	Reduce −1.1%	9,323	$248.53	$2.3M	−103	+$307K
AAPL, Apple	0.05%	Reduce −3.0%	13,102	$174.63	$2.3M	−402	−$110K
NAD, Nuveen Quality Muncp Income	0.05%	Hold	170,276	$13.36	$2.3M	—	—
OPLN, Kar Auction Services	0.05%	Reduce −0.2%	124,478	$18.05	$2.2M	−203	+$299K
INFL, Listed Fund Trust	0.04%, was 0.05%	Reduce −8.4%	66,583	$33.31	$2.2M	−6,102	−$51K
Mantech International	0.04%	Hold	25,000	$86.20	$2.2M	—	—
RMT, Royce Micro-Cap Trust	0.04%, was 0.05%	Reduce −4.0%	204,831	$10.52	$2.2M	−8,439	−$308K
MO, Altria	0.04%	Add +0.1%	41,054	$52.25	$2.1M	+40	+$201K
LLY, Eli Lilly	0.04%	Hold	7,386	$286.35	$2.1M	—	—
CSCO, Cisco	0.04%	Add +0.9%	37,857	$55.76	$2.1M	+350	−$266K
FNF, Fidelity National Financial	0.04%	Add +1.8%	43,186	$48.84	$2.1M	+750	−$105K
XCXEX, MFS High Income Mun Trust	0.04%, was 0.05%	Reduce −1.5%	479,295	$4.39	$2.1M	−7,405	−$373K
PM, Philip Morris International	0.04%, was 0.05%	Reduce −0.2%	22,383	$93.96	$2.1M	−50	−$28K
ET, Energy Transfer	0.04%	Reduce −21.3%	185,655	$11.19	$2.1M	−50,384	+$134K
Navigator	0.04%	Reduce −13.9%	166,815	$12.21	$2M	−26,926	+$319K
KMI, Kinder Morgan	0.04%	New	105,828	$18.91	$2M	+105,828	+$2M
MKTX, Marketaxess	0.04%	Hold	5,704	$340.11	$1.9M	—	—
SPY, SPDR S&P 500 ETF Trust	0.04%, was 0.05%	Reduce −3.5%	4,262	$451.67	$1.9M	−153	−$172K
MHD	0.04%	Hold	134,028	$14.23	$1.9M	—	—
SU, Suncor Energy	0.04%	Hold	58,079	$32.59	$1.9M	—	—
NEM, Newmont	0.04%	Reduce −1.4%	23,475	$79.45	$1.9M	−339	+$388K
EXPE, Expedia	0.04%	Hold	9,433	$195.70	$1.8M	—	—
Equity Commonwealth	0.04%	Reduce −0.2%	64,522	$28.21	$1.8M	−111	+$146K
PARA, Paramount Global	0.04%, was 0.03%	Add +25.0%	47,816	$37.81	$1.8M	+9,558	+$653K
VOO, Vanguard S&P 500 ETF	0.04%	Reduce −1.2%	4,286	$415.07	$1.8M	−54	−$116K
ABT, Abbott Laboratories	0.04%	Hold	14,916	$118.33	$1.8M	—	—
NVS, Novartis	0.04%	Hold	20,050	$87.73	$1.8M	—	—
Discovery	0.04%	Hold	70,265	$24.98	$1.8M	—	—
KLAC, KLA	0.04%, was 0.05%	Reduce −2.2%	4,794	$366.08	$1.8M	−110	−$354K
REZI, Resideo Technologies	0.03%	Add +0.1%	71,790	$23.83	$1.7M	+68	−$156K
VCSH, Vanguard Scottsdale Funds	0.03%	Hold	21,838	$78.07	$1.7M	—	—
BGC Partners	0.03%, was 0.05%	Reduce −20.8%	383,648	$4.40	$1.7M	−100,557	−$564K
EMR, Emerson Electric	0.03%	Add +2.0%	16,636	$98.04	$1.6M	+330	+$115K
IRM, Iron Mountain	0.03%	Add +9.7%	27,658	$55.43	$1.5M	+2,450	+$214K
CAT, Caterpillar	0.03%	Add +2.6%	6,793	$222.88	$1.5M	+175	+$146K
GDX, Vaneck Vectors ETF Trust	0.03%, was 0.04%	Reduce −30.4%	38,291	$38.34	$1.5M	−16,727	−$294K
TD, Toronto-Dominion Bank	0.03%	Hold	18,100	$79.45	$1.4M	—	—
Liberty Media	0.03%	Reduce −1.8%	50,720	$27.92	$1.4M	−952	−$36K
VZ, Verizon	0.03%	Reduce −2.7%	27,481	$50.94	$1.4M	−750	−$67K
CVS, CVS Health	0.03%	Reduce −3.0%	13,617	$101.20	$1.4M	−425	−$71K
WOOD, iShares Trust	0.03%	Reduce −2.6%	15,392	$89.33	$1.4M	−405	−$78K
MSTR, Pimco Income Strategy Fund	0.03%	Reduce −2.1%	132,460	$10.20	$1.4M	−2,866	−$134K
CSW, CSW Industrials	0.03%	Hold	11,200	$117.59	$1.3M	—	—
NSC, Norfolk Southern	0.03%	Hold	4,566	$285.15	$1.3M	—	—
SON, Sonoco Products	0.03%	Add +3.0%	20,600	$62.57	$1.3M	+600	+$131K
BAC, Bank of America	0.03%	Add +0.3%	31,226	$41.22	$1.3M	+100	−$98K
ROK, Rockwell Automation	0.03%	Hold	4,503	$280.04	$1.3M	—	—
BLK, BlackRock	0.02%	Hold	102,442	$12.09	$1.2M	—	—
OIH, Vaneck Vectors ETF Trust	0.02%	Add +2.4%	4,343	$282.52	$1.2M	+100	+$443K
PYPL, PayPal	0.02%, was 0.33%	Reduce −86.6%	10,540	$115.65	$1.2M	−68,059	−$14M
MDLZ, Mondelez	0.02%	Hold	19,254	$62.79	$1.2M	—	—
NRK	0.02%	Hold	98,746	$12.14	$1.2M	—	—
Lendingtree	0.02%	Hold	10,000	$119.70	$1.2M	—	—
GM, General Motors	0.02%	Add +0.5%	26,350	$43.76	$1.2M	+125	−$385K
RTX	0.02%	Reduce −0.9%	11,530	$99.05	$1.1M	−107	+$141K
FHI, Federated Hermes	0.02%, was 0.03%	Reduce −4.6%	32,846	$34.07	$1.1M	−1,568	−$174K
HON, Honeywell	0.02%	Add +0.4%	5,738	$194.49	$1.1M	+21	−$76K
MOV, Movado Group	0.02%, was 0.03%	Reduce −3.5%	28,374	$39.05	$1.1M	−1,026	−$122K
Dish Network	0.02%, was 0.03%	Reduce −9.9%	34,087	$31.65	$1.1M	−3,766	−$149K
BCPC, Balchem	0.02%, was 0.08%	Reduce −63.5%	7,865	$136.68	$1.1M	−13,668	−$2.6M
RCL, Royal Caribbean	0.02%	Reduce −8.1%	12,798	$83.76	$1.1M	−1,128	+$1K
AMGN, Amgen	0.02%	Hold	4,389	$241.74	$1.1M	—	—
Gladstone LD	0.02%	Reduce −0.4%	28,944	$36.42	$1.1M	−124	+$73K
MCD, McDonald's	0.02%	Hold	4,207	$247.21	$1M	—	—
KRP, Kimbell Rty Partners	0.02%, was 0.01%	Add +38.0%	62,922	$16.26	$1M	+17,319	+$401K
CMS, CMS Energy	0.02%	Hold	14,575	$69.91	$1M	—	—
AZNN	0.02%	Hold	15,263	$66.37	$1M	—	—
WPC, W P Carey	0.02%	Add +1.0%	12,525	$80.88	$1M	+125	−$4K
Scripps E W Co. Ohio	0.02%	Hold	48,000	$20.79	$998K	—	—
Holding	0.02%	Hold	71,660	$13.84	$992K	—	—
ABBNY, ABB	0.02%	Add +0.5%	30,137	$32.35	$975K	+150	−$170K
BLK, BlackRock	0.02%	Reduce −1.2%	73,305	$13.12	$962K	−887	−$163K
NZF, Nuveen Municipal Credit	0.02%	Hold	65,021	$14.61	$950K	—	—
PCH, Potlatchdeltic	0.02%	Add +6.1%	17,766	$52.74	$937K	+1,018	−$72K
UNP, Union Pacific	0.02%, was 0.03%	Reduce −43.3%	3,410	$273.31	$932K	−2,605	−$583K
Liberty Media	0.02%	Reduce −2.3%	31,851	$28.79	$917K	−760	−$21K
RYN, Rayonier Advanced Materials	0.02%	Reduce −1.1%	138,450	$6.57	$910K	−1,600	+$110K
RQI, Cohen & Steers Quality Realty	0.02%	Hold	54,233	$16.72	$907K	—	—
GE, GE Aerospace	0.02%	Add +25.1%	9,702	$91.53	$888K	+1,948	+$155K
Lions Gate Entmnt	0.02%	Reduce −17.7%	59,070	$15.03	$888K	−12,734	−$217K
NVO, Novo Nordisk	0.02%	Hold	7,740	$111.11	$860K	—	—
CF Acquisition Corporation VI	0.02%	Add +3.6%	72,289	$11.87	$858K	+2,504	+$102K
BX, Blackstone	0.02%	Reduce −0.6%	6,660	$126.88	$845K	−40	−$22K
DIS, Disney	0.02%	Add +0.3%	6,080	$137.17	$834K	+17	−$105K
SEB, Seaboard	0.02%, was 0.01%	Add +74.3%	190	$4,205	$799K	+81	+$370K
ADI, Analog Devices	0.02%	Add +1.1%	4,800	$165.21	$793K	+50	−$42K
RCG, Renn Fund	0.02%, was 0.01%	Add +48.8%	367,149	$2.16	$793K	+120,482	+$139K
BIIB, Biogen	0.02%	Hold	3,750	$210.67	$790K	—	—
MYI	0.02%	Hold	62,279	$12.56	$782K	—	—
XFRAX	0.02%	Reduce 0.0%	59,291	$13.02	$772K	−9	−$24K
GLD, SPDR Gold Shares	0.02%	Hold	4,197	$180.61	$758K	—	—
TFX, Teleflex	0.02%	Hold	2,126	$354.66	$754K	—	—
SLV, iShares Silver Trust	0.01%, was 0.02%	Reduce −0.8%	31,833	$22.87	$728K	−265	+$38K
INTC, Intellia Therapeutics	0.01%	Hold	10,000	$72.70	$727K	—	—
SPSB, SPDR Ser Trust	0.01%	Hold	24,000	$30.12	$723K	—	—
WTM, White Mountains Insurance Group	0.01%, was 0.02%	Reduce −23.9%	635	$1,137	$722K	−199	−$124K
Black Knight	0.01%	Add +5.1%	12,372	$57.95	$717K	+600	−$259K
BR, Broadridge Financial	0.01%	Hold	4,564	$155.78	$711K	—	—
GSK	0.01%, was 0.02%	Reduce −0.3%	16,146	$43.54	$703K	−54	−$11K
VTI, Vanguard Index Funds	0.01%, was 0.02%	Reduce −6.7%	3,078	$227.75	$701K	−220	−$95K
SNY, Sanofi	0.01%	Hold	13,000	$51.31	$667K	—	—
DORM, Dorman Products	0.01%, was 0.05%	Reduce −63.2%	7,000	$95.00	$665K	−12,036	−$1.5M
DGX, Quest Diagnostics	0.01%, was 0.02%	Reduce −0.2%	4,800	$136.88	$657K	−12	−$176K
IVZ, Invesco	0.01%, was 0.02%	Reduce −0.4%	57,422	$11.34	$651K	−253	−$133K
NAN, Nuveen New York QLT Mun	0.01%	Hold	50,071	$12.56	$629K	—	—
VXF, Vanguard Index Funds	0.01%, was 0.04%	Reduce −64.1%	3,770	$165.78	$625K	−6,732	−$1.3M
RSP	0.01%	Reduce −1.9%	3,938	$157.69	$621K	−75	−$32K
MPC, Marathon Petroleum	0.01%	Hold	7,220	$85.46	$617K	—	—
GHC, Graham	0.01%	Hold	1,008	$611.11	$616K	—	—
Nuveen Sr Income Fund	0.01%	Hold	105,209	$5.67	$597K	—	—
Bakkt	0.01%	Add +56.4%	94,455	$6.16	$582K	+34,055	+$68K
ALKS, Alkermes	0.01%	Hold	22,000	$26.32	$579K	—	—
AJG, Arthur J. Gallagher	0.01%	Reduce −0.6%	3,310	$174.62	$578K	−19	+$13K
Holding	0.01%	Hold	55,869	$10.15	$567K	—	—
INTC, Intel	0.01%	Add +9.6%	11,369	$49.52	$563K	+1,000	+$29K
BTZ	0.01%	Hold	44,576	$12.56	$560K	—	—
ALCO, Alico	0.01%, was 0.02%	Reduce −24.5%	14,800	$37.57	$556K	−4,800	−$170K
VMI, Valmont Industries	0.01%	Hold	2,300	$238.70	$549K	—	—
GILD, Gilead Sciences	0.01%, was 0.02%	Reduce −18.3%	9,000	$59.44	$535K	−2,017	−$265K
SYK, Stryker	0.01%	Hold	2,000	$267.50	$535K	—	—
MTCH, Match Group	0.01%	Reduce −5.2%	4,863	$108.78	$529K	−266	−$149K
BLK, BlackRock	0.01%	Hold	22,050	$23.63	$521K	—	—
BELFB, Bel Fuse	0.01%	Hold	28,988	$17.83	$517K	—	—
SBLK, Star Bulk Carriers	0.01%	New	17,408	$29.70	$517K	+17,408	+$517K
FHI, Federated Hermes	0.01%	Reduce −3.7%	40,133	$12.71	$510K	−1,524	−$116K
IVZ, Invesco Value Mun Income Trust	0.01%	Reduce −0.6%	35,862	$13.94	$500K	−213	−$115K
ALNY, Alnylam Pharmaceuticals	0.01%	Hold	3,000	$163.33	$490K	—	—
LIN, Linde	0.01%	Reduce −3.3%	1,530	$319.61	$489K	−53	−$59K
KMB, Kimberly-Clark	0.01%	Add +9.8%	3,916	$123.08	$482K	+350	−$28K
Maverix Metals	0.01%	Add +26.9%	100,065	$4.80	$480K	+21,231	+$136K
NVDA, Nvidia	0.01%	Hold	1,760	$272.73	$480K	—	—
SBR, Sabine Royalty Trust	0.01%	Add +0.2%	8,312	$57.75	$480K	+20	+$134K
CNP, Centerpoint Energy	0.01%	Hold	15,472	$30.64	$474K	—	—
JPM, JPMorgan Chase	0.01%	Reduce −22.2%	9,405	$50.29	$473K	−2,679	−$137K
NBH, Neuberger Berman Muni Fund	0.01%	Hold	35,562	$13.27	$472K	—	—
Pimco ETF Trust	0.01%	Reduce −0.6%	4,700	$100.21	$471K	−30	−$9K
EOG, EOG Resources	0.01%	Hold	3,782	$119.25	$451K	—	—
Holding	0.01%	Hold	44,652	$10.08	$450K	—	—
Vimeo	0.01%, was 0.02%	Reduce −4.0%	37,045	$11.88	$440K	−1,543	−$253K
GBX, Greenbrier Companies	0.01%	Add +4.3%	8,500	$51.53	$438K	+350	+$64K
IBM	0.01%	Add +23.9%	3,370	$129.97	$438K	+650	+$74K
L, Loews	0.01%	Hold	6,678	$64.84	$433K	—	—
Perkinelmer	0.01%	Hold	2,445	$174.64	$427K	—	—
Welbilt	0.01%	Hold	17,000	$23.76	$404K	—	—
CSWC, Capital Southwest	0.01%	Hold	17,000	$23.71	$403K	—	—
IAU, iShares Gold Trust	0.01%	Reduce −0.2%	10,916	$36.83	$402K	−18	+$21K
IFF, International Flavors & Fragrances	0.01%	Hold	3,050	$131.48	$401K	—	—
GS, Goldman Sachs	0.01%	Hold	1,193	$330.26	$394K	—	—
XES, SPDR Ser Trust	0.01%	Add +8.7%	5,248	$75.08	$394K	+420	+$155K
RA	0.01%	Hold	18,862	$20.73	$391K	—	—
BLK, BlackRock	0.01%	Hold	32,065	$12.16	$390K	—	—
CRSP, Crispr Therapeutics	0.01%	Hold	6,125	$62.69	$384K	—	—
BN, Brookfield Corporation	0.01%	Hold	5,078	$75.42	$383K	—	—
SHV, iShares Trust	0.01%	Reduce −25.5%	3,456	$110.24	$381K	−1,185	−$131K
BLK, BlackRock	0.01%	Hold	46,440	$8.16	$379K	—	—
BXMT	0.01%	Reduce −0.1%	11,871	$31.76	$377K	−17	+$13K
LEN, Lennar	0.01%	Reduce −1.1%	4,585	$81.13	$372K	−50	−$166K
PEP, PepsiCo	0.01%, was 0.02%	Reduce −47.7%	2,204	$167.42	$369K	−2,008	−$363K
KHC, Kraft Heinz	0.01%	Add +6.3%	9,346	$39.38	$368K	+550	+$52K
JPM, JPMorgan Chase	0.01%	Reduce −6.7%	2,676	$136.40	$365K	−191	−$89K
VTRS, Viatris	0.01%	Add +18.7%	33,588	$10.87	$365K	+5,300	−$18K
AMT, American Tower	0.01%	Reduce −0.2%	1,428	$251.40	$359K	−3	−$60K
BK, BNY	0.01%	Hold	7,194	$49.62	$357K	—	—
FIS, Fidelity National Information Services	0.01%	Hold	3,550	$100.28	$356K	—	—
CMCSA, Comcast	0.01%	Hold	7,517	$46.83	$352K	—	—
Neuberger Berman NY Mun Fund	0.01%	Hold	29,442	$11.62	$342K	—	—
OGN, Organon	0.01%	Add +42.2%	9,636	$34.97	$337K	+2,858	+$131K
MTN, Vail Resorts	0.01%	Hold	1,262	$259.90	$328K	—	—
WST, West Pharmaceutical	0.01%	Reduce −0.8%	27,019	$11.99	$324K	−206	−$46K
OXY, Occidental	0.01%	New	5,653	$56.78	$321K	+5,653	+$321K
GPC, Genuine Parts	0.01%	Hold	2,500	$126.00	$315K	—	—
NVG	0.01%	Hold	21,176	$14.78	$313K	—	—
RIO, Rio Tinto	0.01%	Add +5.6%	3,775	$80.53	$304K	+200	+$65K
IONS, Ionis Pharmaceuticals	0.01%	Hold	8,000	$37.00	$296K	—	—
KKR	0.01%	Hold	5,058	$58.52	$296K	—	—
ACN, Accenture	0.01%	Hold	869	$337.17	$293K	—	—
AMZN, Amazon	0.01%	Hold	89	$3,258	$290K	—	—
Nuveen Int Dur Qual Mun TRM	0.01%	Hold	21,130	$13.58	$287K	—	—
ETN, Eaton	0.01%	Hold	20,001	$13.40	$268K	—	—
PCM, PCM Fund	0.01%	Reduce −4.5%	26,261	$10.17	$267K	−1,249	−$28K
DE, Deere	0.01%	Reduce −19.0%	640	$415.62	$266K	−150	−$5K
CLF, Cleveland-Cliffs	0.01%	New	8,216	$32.25	$265K	+8,216	+$265K
PHYS, Sprott Physical Gold Trust	0.01%	Hold	17,259	$15.35	$265K	—	—
BAX, Baxter International	0.01%	Reduce −45.6%	3,400	$77.65	$264K	−2,850	−$272K
QCOM, Qualcomm	0.01%	Reduce −8.9%	1,720	$152.91	$263K	−167	−$82K
CCI, Crown Castle	0.01%	Hold	1,420	$184.51	$262K	—	—
BLK, BlackRock	0.01%	Hold	21,411	$12.19	$261K	—	—
ETN, Eaton	0.01%	Hold	24,865	$10.50	$261K	—	—
IWC, iShares Trust	0.01%	Reduce −0.8%	2,029	$128.63	$261K	−17	−$25K
BHP, BHP Group	0.01%	New	3,242	$77.11	$250K	+3,242	+$250K
GIS, General Mills	0.00%	Hold	3,600	$67.78	$244K	—	—
IVZ, Invesco	0.00%, was 0.01%	Reduce −5.6%	3,115	$78.33	$244K	−185	−$12K
WYNN, Wynn Resorts	0.00%, was 0.01%	Reduce −5.8%	3,062	$79.69	$244K	−190	−$33K
DOW, DOW Inc	0.00%	Add +2.5%	3,781	$63.74	$241K	+92	+$32K
ETN, Eaton	0.00%	Hold	20,955	$11.50	$241K	—	—
BLK, BlackRock	0.00%	Hold	18,053	$13.24	$239K	—	—
COIN, Coinbase	0.00%	Hold	1,251	$190.25	$238K	—	—
MMM, 3M	0.00%	Hold	1,591	$148.96	$237K	—	—
CL, Colgate-Palmolive	0.00%	Hold	2,978	$75.89	$226K	—	—
Holding	0.00%	Hold	8,000	$28.00	$224K	—	—
SLP, Simulations Plus	0.00%	Hold	4,367	$51.06	$223K	—	—
WMT, Walmart	0.00%	Hold	1,457	$148.94	$217K	—	—
FTV, Fortive	0.00%, was 0.01%	Reduce −0.6%	3,540	$61.02	$216K	−21	−$56K
NWL, Newell Brands	0.00%	Hold	9,882	$21.45	$212K	—	—
RIOT, Riot Blockchain	0.00%	Hold	10,000	$21.20	$212K	—	—
Trecora Resources	0.00%	Hold	25,003	$8.48	$212K	—	—
NIM, Nuveen Select Mat Mun Fund	0.00%	Hold	21,500	$9.58	$206K	—	—
ASTL, Algoma Steel Group	0.00%	Hold	18,180	$11.28	$205K	—	—
Holding	0.00%	Reduce −1.3%	21,822	$8.39	$183K	−291	−$32K
PML, Pimco Mun Income Fund II	0.00%	Hold	15,050	$11.50	$173K	—	—
BGT	0.00%	Hold	12,678	$12.78	$162K	—	—
LILA, Liberty Latin America	0.00%	Hold	16,578	$9.59	$159K	—	—
Nektar Therapeutics	0.00%	Add +57.3%	29,300	$5.39	$158K	+10,670	−$94K
NMZ	0.00%	Hold	12,099	$12.98	$157K	—	—
ETN, Eaton	0.00%	Reduce −2.7%	12,928	$11.68	$151K	−359	−$23K
DNP, DNP Select Income Fund	0.00%	Reduce −4.8%	12,480	$11.86	$148K	−633	+$5K
Pioneer Mun High Income Fund	0.00%, was 0.01%	Reduce −32.2%	13,981	$10.51	$147K	−6,652	−$105K
Holding	0.00%	Reduce −5.9%	15,833	$9.22	$146K	−984	+$15K
ETN, Eaton	0.00%	Reduce −0.2%	21,730	$6.35	$138K	−34	−$9K
Annaly Cap Management	0.00%	Hold	19,197	$7.03	$135K	—	—
BLK, BlackRock	0.00%	Hold	10,204	$12.35	$126K	—	—
NUV, Nuveen Mun Value Fund	0.00%	Reduce −4.9%	11,832	$9.55	$113K	−609	−$16K
PACB	0.00%	Hold	12,000	$9.08	$109K	—	—
SAN	0.00%	Hold	22,910	$3.36	$77K	—	—
BITF, Bitfarms	0.00%	Hold	18,300	$3.77	$69K	—	—
IVZ, Invesco Sr Income Trust	0.00%	Hold	11,113	$4.23	$47K	—	—
GCI, Gannett	0.00%	Reduce −0.7%	10,000	$4.50	$45K	−75	−$9K
GALT, Galectin Therapeutics	0.00%	Add +8.3%	26,000	$1.62	$42K	+2,000	−$8K
Alaunos Therapeutics	0.00%	Hold	34,000	$0.6471	$22K	—	—
Nucana	0.00%	Hold	19,467	$0.9760	$19K	—	—

Showing top 50 of 335 by value

Exits / last held

Gone since 2021 Q4, shown at their last reported size.

Stock	% of portfolio	Recent activity	Reported price*	Value	Share change	$ change
Ihs Markit	0.57%	Exit	$132.92	$26M	−195,052	−$26M
Colfax	0.03%	Exit	$45.96	$1.4M	−30,156	−$1.4M
BN, Brookfield Corporation	0.01%	Exit	$62.65	$621K	−9,912	−$621K
BLK, BlackRock	0.01%	Exit	$14.87	$606K	−40,758	−$606K
Arena Pharmaceuticals	0.01%	Exit	$92.89	$418K	−4,500	−$418K
NEE, NextEra Energy	0.01%	Exit	$93.38	$282K	−3,020	−$282K
IVZ, Invesco	0.01%	Exit	$72.01	$274K	−3,805	−$274K
ETN, Eaton	0.01%	Exit	$173.13	$250K	−1,444	−$250K
TSLA, Tesla	0.01%	Exit	$1,057	$241K	−228	−$241K
BN, Brookfield Corporation	0.01%	Exit	$45.97	$231K	−5,025	−$231K
CCL, Carnival	—	Exit	$20.13	$214K	−10,629	−$214K
EDIT, Editas Medicine	—	Exit	$26.58	$214K	−8,050	−$214K
MAS, Masco	—	Exit	$70.33	$211K	−3,000	−$211K
VSAT, Viasat	—	Exit	$44.54	$205K	−4,603	−$205K
IVZ, Invesco	—	Exit	$13.44	$140K	−10,414	−$140K

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