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 Q2 2022 Q1, filed 5 Aug, long equity only

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TPL, Texas Pacific Land	46.91%	Reduce −0.7%	1,505,675	$1,488	$2.2B	−10,827	+$190M
FNV, Franco Nevada	3.07%	Add +2.8%	1,113,917	$131.58	$147M	+30,857	−$26M
CACI, CACI International	2.75%, was 2.88%	Reduce −1.7%	466,651	$281.78	$131M	−7,889	−$11M
WPM, Wheaton Precious Metals	2.58%	Add +2.7%	3,414,262	$36.03	$123M	+89,965	−$35M
BN, Brookfield Corporation	2.16%	Add +2.5%	2,323,461	$44.47	$103M	+57,367	−$25M
ICE, Intercontinental Exchange	2.10%	Add +5.6%	1,065,436	$94.04	$100M	+56,391	−$33M
CVEO, Civeo Corporation Cda	1.88%	Reduce −1.5%	3,474,099	$25.87	$90M	−54,122	+$6.6M
ADM, Archer-Daniels-Midland	1.80%, was 1.79%	Add +12.4%	1,105,493	$77.60	$86M	+121,611	−$3M
Viper Energy Partners	1.41%, was 1.31%	Add +14.4%	2,519,252	$26.68	$67M	+316,238	+$2.1M
MSB, Mesabi Trust	1.35%, was 1.34%	Add +5.4%	2,628,804	$24.52	$64M	+134,307	−$2M
CRL, Charles River Labs International	1.34%	Add +8.6%	298,974	$213.97	$64M	+23,735	−$14M
Brigham Minerals	1.16%, was 1.01%	Add +14.6%	2,243,428	$24.63	$55M	+286,292	+$5.3M
CME, CME Group	1.13%	Add +7.5%	264,149	$204.70	$54M	+18,474	−$4.4M
SVXY, Proshares Trust II	0.98%, was 1.07%	Reduce −0.1%	970,989	$48.21	$47M	−852	−$6.2M
CBOE, Cboe Global Markets	0.98%	Reduce −0.9%	412,560	$113.19	$47M	−3,867	−$950K
HHH, Howard Hughes	0.97%, was 1.48%	Reduce −3.6%	681,875	$68.05	$46M	−25,654	−$27M
LYV, Live Nation Entertainment	0.95%, was 1.35%	Reduce −4.3%	547,246	$82.58	$45M	−24,539	−$22M
Associated Cap Group	0.94%, was 1.06%	Reduce −0.5%	1,253,644	$35.83	$45M	−6,685	−$7.9M
MMC, Marsh McLennan	0.91%, was 0.84%	Add +13.8%	279,309	$155.25	$43M	+33,773	+$1.5M
NTR, Nutrien	0.90%	Add +21.3%	538,075	$79.69	$43M	+94,461	−$3.3M
WST, West Fraser Timber	0.86%, was 0.76%	Add +17.2%	538,038	$76.73	$41M	+78,926	+$3.4M
AN, Autonation	0.85%	Reduce −0.8%	365,140	$111.76	$41M	−3,055	+$4.1M
Sandstorm Gold	0.80%	Add +6.6%	6,425,969	$5.95	$38M	+395,529	−$10M
SAIC, Science Applicatns International CP	0.78%, was 0.74%	Add +0.4%	400,467	$93.10	$37M	+1,761	+$534K
BG, Bunge	0.76%	Add +13.5%	398,837	$90.69	$36M	+47,297	−$2.8M
WY, Weyerhaeuser	0.74%, was 0.70%	Add +15.2%	1,063,437	$33.12	$35M	+140,403	+$238K
PBT, Permian Basin Rty Trust	0.72%, was 0.28%	Add +89.8%	2,090,495	$16.55	$35M	+989,108	+$21M
CBRE, CBRE Group	0.67%	Add +14.5%	433,396	$73.61	$32M	+54,978	−$2.7M
Liberty Medica	0.58%, was 0.73%	Reduce −3.2%	768,156	$36.05	$28M	−25,221	−$8.6M
Osisko Gold Royalties	0.54%	Add +14.4%	2,556,407	$10.10	$26M	+322,515	−$3.6M
WEN, Wendys	0.52%, was 0.65%	Reduce −9.8%	1,326,816	$18.88	$25M	−143,753	−$7.3M
DMLP, Dorchester Minerals	0.51%, was 0.54%	Reduce −0.1%	1,029,301	$23.85	$25M	−605	−$2.2M
PAG, Penske Automotive Group	0.51%	Reduce −2.9%	233,022	$104.69	$24M	−6,904	+$1.9M
JOE, Saint Joe	0.49%	Add +11.4%	592,397	$39.56	$23M	+60,803	−$8.1M
IEP, Icahn Enterprises	0.46%, was 0.50%	Reduce −3.9%	461,242	$48.12	$22M	−18,495	−$2.7M
LBRDA, Liberty Broadband Series C	0.40%, was 0.55%	Reduce −18.0%	167,011	$115.64	$19M	−36,546	−$8.2M
RPRX	0.40%, was 0.31%	Add +16.0%	453,556	$42.04	$19M	+62,638	+$3.8M
SPGI, S&P Global	0.35%, was 0.44%	Reduce −5.9%	49,874	$337.05	$17M	−3,126	−$4.9M
CNS, Cohen & Steers	0.34%	Add +4.4%	258,430	$63.59	$16M	+10,987	−$4.8M
RGLD, Royal Gold	0.32%, was 0.42%	Reduce −3.3%	143,378	$106.78	$15M	−4,964	−$5.6M
ELS, Equity Lifestyle Properties	0.29%, was 0.31%	Reduce −2.6%	194,427	$70.47	$14M	−5,194	−$1.6M
Liberty Media	0.29%, was 0.36%	Reduce −2.1%	378,960	$36.04	$14M	−8,181	−$4M
Liberty Media	0.28%, was 0.30%	Reduce −0.9%	209,863	$63.47	$13M	−1,910	−$1.5M
OSK, Oshkosh	0.27%, was 0.33%	Reduce −3.2%	157,151	$82.14	$13M	−5,186	−$3.4M
IPAR, Inter Parfums	0.26%, was 0.33%	Reduce −6.1%	172,367	$73.06	$13M	−11,272	−$3.6M
SII, Sprott	0.26%, was 0.23%	Add +55.8%	353,995	$34.66	$12M	+126,772	+$853K
TRC, Tejon Ranch	0.25%, was 0.30%	Reduce −5.9%	759,794	$15.52	$12M	−47,716	−$3M
BRK.B, Berkshire Hathaway Class B	0.25%, was 0.36%	Reduce −15.4%	43,181	$273.01	$12M	−7,870	−$6.2M
Kraneshares Trust	0.22%, was 0.20%	Add +1.3%	217,795	$49.23	$11M	+2,824	+$691K
MA, Mastercard	0.22%, was 0.28%	Reduce −12.2%	33,876	$315.47	$11M	−4,707	−$3.1M
Liberty Media	0.20%, was 0.21%	Reduce −0.3%	167,555	$57.97	$9.7M	−563	−$900K
Gamco Investors	0.20%	Add +0.1%	456,801	$20.90	$9.5M	+462	−$543K
BA, Boeing	0.19%, was 0.27%	Reduce −2.5%	67,125	$136.72	$9.2M	−1,688	−$4M
VGSH, Vanguard Scottsdale Funds	0.16%, was 0.17%	Reduce −4.2%	133,260	$58.86	$7.8M	−5,851	−$400K
EBAY, eBay	0.15%, was 0.21%	Reduce −2.4%	174,761	$41.67	$7.3M	−4,298	−$3M
PTEN, Patterson Uti Energy	0.14%	Reduce −0.2%	413,076	$15.76	$6.5M	−1,000	+$100K
XNEAX, Nuveen Amt Free Qlty Mun	0.13%, was 0.14%	Reduce −0.1%	531,674	$11.75	$6.2M	−615	−$747K
NDAQ, Nasdaq	0.13%, was 0.15%	Reduce −0.3%	40,337	$152.54	$6.2M	−119	−$1.1M
Catchmark Timber Trust	0.12%	Reduce −0.7%	574,230	$10.06	$5.8M	−4,053	+$1M
MSGS, MSG Sports	0.12%, was 0.14%	Reduce −2.3%	38,179	$151.00	$5.8M	−883	−$1.2M
Iaa	0.11%, was 0.13%	Reduce −7.9%	156,283	$32.77	$5.1M	−13,486	−$1.4M
V, Visa	0.10%, was 0.13%	Reduce −14.1%	25,408	$196.91	$5M	−4,154	−$1.6M
RYN, Rayonier	0.10%	Add +0.6%	127,287	$37.38	$4.8M	+791	−$444K
BRK.A, Berkshire Hathaway Class A	0.09%	Hold	11	$408,909	$4.5M	—	—
WMB, Williams Companies	0.09%	Add +0.8%	139,949	$31.21	$4.4M	+1,065	−$272K
GOOGL, Alphabet Class A	0.09%, was 0.16%	Reduce −33.5%	1,942	$2,179	$4.2M	−977	−$3.9M
ABBV, AbbVie	0.09%	Reduce −4.7%	27,023	$153.17	$4.1M	−1,345	−$460K
XOM, Exxon Mobil	0.08%	Reduce −1.7%	46,625	$85.64	$4M	−815	+$75K
BMY, Bristol Myers Squibb	0.08%	Reduce −0.6%	47,581	$77.01	$3.7M	−283	+$168K
MKL, Markel Group	0.08%	Reduce −0.6%	2,788	$1,293	$3.6M	−16	−$531K
APYX, Apyx Medical	0.08%	Hold	615,000	$5.86	$3.6M	—	—
JNJ, Johnson & Johnson	0.07%	Add +0.2%	18,593	$177.49	$3.3M	+39	+$12K
PDI, Pimco Dynamic Income Fund	0.07%, was 0.08%	Reduce −1.5%	158,010	$20.87	$3.3M	−2,425	−$612K
MRK, Merck	0.07%	Reduce −1.0%	35,143	$91.17	$3.2M	−356	+$291K
FCX, Freeport-McMoRan	0.07%, was 0.11%	Reduce −3.2%	108,587	$29.26	$3.2M	−3,600	−$2.4M
AMLP, Alps ETF Trust Alerian MLP	0.07%	Add +1.6%	90,578	$34.45	$3.1M	+1,458	−$293K
MSTR, Microstrategy	0.06%	Add +48.8%	18,347	$164.28	$3M	+6,020	−$3M
DSL, Doubleline Income Solutions	0.06%, was 0.07%	Reduce −2.1%	236,611	$12.13	$2.9M	−5,026	−$639K
MSTR, Pimco Income Strategy Fund II	0.06%	Reduce −0.1%	359,328	$7.92	$2.8M	−460	−$277K
SPHR	0.06%, was 0.09%	Reduce −2.2%	52,188	$52.62	$2.7M	−1,166	−$1.7M
IGSB, iShares Trust	0.06%	Hold	54,000	$50.56	$2.7M	—	—
PFE, Pfizer	0.06%	Reduce −3.6%	51,566	$52.44	$2.7M	−1,940	−$66K
Costamare	0.06%, was 0.08%	Reduce −2.1%	221,737	$12.10	$2.7M	−4,800	−$1.2M
BSM	0.06%	Reduce −0.2%	192,749	$13.69	$2.6M	−340	+$40K
EPD, Enterprise Products Partners	0.05%, was 0.06%	Reduce −9.7%	107,238	$24.37	$2.6M	−11,505	−$452K
DHR, Danaher	0.05%, was 0.06%	Reduce −1.4%	9,755	$253.51	$2.5M	−138	−$429K
LLY, Eli Lilly	0.05%	Hold	7,386	$324.26	$2.4M	—	—
Mantech International	0.05%	Hold	25,000	$95.44	$2.4M	—	—
NBB, Nuveen Build American	0.05%	Reduce −1.4%	131,731	$17.80	$2.3M	−1,918	−$327K
LVS, Las Vegas Sands	0.05%	Add +1.4%	69,437	$33.58	$2.3M	+948	−$330K
LBRDA, Liberty Broadband Series A	0.05%, was 0.08%	Reduce −34.7%	19,794	$113.57	$2.2M	−10,528	−$1.7M
MSFT, Microsoft	0.05%, was 0.06%	Reduce −3.8%	8,747	$256.77	$2.2M	−341	−$556K
LHX, L3Harris	0.05%	Reduce −1.5%	9,183	$241.75	$2.2M	−140	−$97K
DBL, Doubleline Opportunistic CR	0.05%	Reduce −10.2%	142,129	$15.58	$2.2M	−16,189	−$439K
INFL, Listed Fund Trust	0.05%, was 0.04%	Add +16.4%	77,524	$28.55	$2.2M	+10,941	−$5K
CVX, Chevron	0.05%	Reduce −3.4%	15,249	$144.80	$2.2M	−533	−$362K
TCOM, Tri Pointe Homes	0.05%, was 0.07%	Reduce −24.9%	128,612	$16.87	$2.2M	−42,700	−$1.3M
PM, Philip Morris International	0.05%	Reduce −2.6%	21,790	$98.76	$2.2M	−593	+$49K
BN, Brookfield Corporation	0.04%	Add +49.6%	56,144	$38.22	$2.1M	+18,614	−$340K
NAD, Nuveen Quality Muncp Income	0.04%	Hold	170,276	$12.47	$2.1M	—	—
SATS, Echostar	0.04%, was 0.06%	Reduce −4.1%	108,022	$19.30	$2.1M	−4,600	−$656K
GOOG, Alphabet Class C	0.04%, was 0.16%	Reduce −66.2%	942	$2,188	$2.1M	−1,843	−$5.7M
Ritchie Bros Auctioneers	0.04%, was 0.05%	Reduce −26.9%	31,557	$65.06	$2.1M	−11,612	−$495K
KMI, Kinder Morgan	0.04%	Add +15.2%	121,930	$16.76	$2M	+16,102	+$43K
SU, Suncor Energy	0.04%	Hold	58,079	$35.07	$2M	—	—
SEE, Sealed Air	0.04%, was 0.05%	Reduce −0.7%	34,885	$57.73	$2M	−250	−$339K
CORZ, Core Scientific	0.04%	Add +27.7%	1,340,336	$1.49	$2M	+290,822	−$6.6M
IAC, IAC Interactivecorp	0.04%, was 0.05%	Reduce −5.1%	24,847	$75.99	$1.9M	−1,346	−$739K
GDXJ, Vaneck Vectors ETF Trust	0.04%, was 0.06%	Reduce −5.6%	56,368	$32.00	$1.8M	−3,320	−$994K
XCXEX, MFS High Income Mun Trust	0.04%	Reduce −0.7%	475,971	$3.76	$1.8M	−3,324	−$314K
Equity Commonwealth	0.04%	Reduce −0.5%	64,222	$27.53	$1.8M	−300	−$52K
OPLN, Kar Auction Services	0.04%, was 0.05%	Reduce −4.5%	118,878	$14.77	$1.8M	−5,600	−$491K
MHD	0.04%	Reduce −0.3%	133,642	$12.69	$1.7M	−386	−$211K
NVS, Novartis	0.04%	Hold	20,050	$84.54	$1.7M	—	—
MO, Altria	0.04%	Reduce −2.4%	40,054	$41.77	$1.7M	−1,000	−$472K
VCSH, Vanguard Scottsdale Funds	0.03%	Hold	21,838	$76.24	$1.7M	—	—
AAPL, Apple	0.03%, was 0.05%	Reduce −7.1%	12,167	$136.68	$1.7M	−935	−$625K
CSCO, Cisco	0.03%	Add +2.6%	38,826	$42.65	$1.7M	+969	−$455K
ABT, Abbott Laboratories	0.03%	Hold	14,916	$108.68	$1.6M	—	—
FNF, Fidelity National Financial	0.03%	Add +0.2%	43,286	$36.96	$1.6M	+100	−$509K
AMCX, AMC Networks	0.03%, was 0.09%	Reduce −51.8%	53,883	$29.12	$1.6M	−58,000	−$3M
KLAC, KLA	0.03%, was 0.04%	Reduce −1.0%	4,744	$319.14	$1.5M	−50	−$241K
ET, Energy Transfer	0.03%, was 0.04%	Reduce −18.7%	150,954	$9.98	$1.5M	−34,701	−$570K
SPY, SPDR S&P 500 ETF Trust	0.03%, was 0.04%	Reduce −8.3%	3,909	$377.33	$1.5M	−353	−$450K
Navigator	0.03%, was 0.04%	Reduce −21.9%	130,220	$11.29	$1.5M	−36,595	−$567K
MKTX, Marketaxess	0.03%	Hold	5,704	$255.96	$1.5M	—	—
PARA, Paramount Global	0.03%	Add +22.1%	58,381	$24.68	$1.4M	+10,565	−$367K
VOO, Vanguard S&P 500 ETF	0.03%, was 0.04%	Reduce −3.2%	4,148	$346.91	$1.4M	−138	−$340K
NEM, Newmont	0.03%	Add +0.9%	23,680	$59.67	$1.4M	+205	−$452K
REZI, Resideo Technologies	0.03%	Add +0.1%	71,826	$19.42	$1.4M	+36	−$316K
EMR, Emerson Electric	0.03%	Add +3.0%	17,136	$79.54	$1.4M	+500	−$268K
IRM, Iron Mountain	0.03%	Reduce −0.4%	27,558	$48.70	$1.3M	−100	−$191K
BLK, BlackRock	0.03%, was 0.02%	Add +51.3%	110,939	$11.91	$1.3M	+37,634	+$359K
BGC Partners	0.03%	Reduce −1.0%	379,855	$3.37	$1.3M	−3,793	−$408K
CVS, CVS Health	0.03%	Reduce −1.5%	13,418	$92.64	$1.2M	−199	−$135K
CAT, Caterpillar	0.03%	Add +1.1%	6,868	$178.80	$1.2M	+75	−$286K
RMT, Royce Micro-Cap Trust	0.03%, was 0.04%	Reduce −29.2%	145,026	$8.36	$1.2M	−59,805	−$943K
VRSK, Verisk	0.03%, was 0.61%	Reduce −95.0%	7,000	$173.14	$1.2M	−134,183	−$29M
Liberty Media	0.03%	Reduce −0.9%	50,262	$23.99	$1.2M	−458	−$210K
TD, Toronto-Dominion Bank	0.03%	Add +0.6%	18,200	$65.60	$1.2M	+100	−$244K
SON, Sonoco Products	0.02%	Hold	20,600	$57.04	$1.2M	—	—
RTX	0.02%	Add +5.2%	12,132	$96.11	$1.2M	+602	+$24K
SBLK, Star Bulk Carriers	0.02%, was 0.01%	Add +167.4%	46,544	$24.99	$1.2M	+29,136	+$646K
MDLZ, Mondelez	0.02%	Reduce −2.9%	18,689	$62.07	$1.2M	−565	−$49K
CSW, CSW Industrials	0.02%	Hold	11,200	$103.04	$1.2M	—	—
BLK, BlackRock	0.02%	Hold	102,442	$11.02	$1.1M	—	—
WOOD, iShares Trust	0.02%, was 0.03%	Reduce −2.7%	14,978	$74.44	$1.1M	−414	−$260K
NRK	0.02%	Hold	98,746	$11.05	$1.1M	—	—
HON, Honeywell	0.02%	Add +8.9%	6,250	$173.76	$1.1M	+512	−$30K
VZ, Verizon	0.02%, was 0.03%	Reduce −22.3%	21,349	$50.73	$1.1M	−6,132	−$317K
AMGN, Amgen	0.02%	Hold	4,389	$243.34	$1.1M	—	—
MSTR, Pimco Income Strategy Fund	0.02%, was 0.03%	Reduce −11.0%	117,837	$8.99	$1.1M	−14,623	−$292K
NSC, Norfolk Southern	0.02%	Add +0.4%	4,586	$227.21	$1M	+20	−$260K
WPC, W P Carey	0.02%	Hold	12,525	$82.87	$1M	—	—
FHI, Federated Hermes	0.02%	Reduce −1.8%	32,246	$31.79	$1M	−600	−$94K
MCD, McDonald's	0.02%	Reduce −2.1%	4,119	$246.90	$1M	−88	−$23K
OIH, Vaneck Vectors ETF Trust	0.02%	Reduce −0.3%	4,331	$232.51	$1M	−12	−$220K
AZNN	0.02%	Reduce −1.3%	15,058	$66.08	$995K	−205	−$18K
CMS, CMS Energy	0.02%	Hold	14,575	$67.51	$984K	—	—
BAC, Bank of America	0.02%	Add +0.6%	31,426	$31.12	$978K	+200	−$309K
BCPC, Balchem	0.02%	Reduce −4.3%	7,524	$129.72	$976K	−341	−$99K
WT, Wisdomtree Investments	0.02%	New	187,482	$5.07	$951K	+187,482	+$951K
RCG, Renn Fund	0.02%	Add +11.4%	408,999	$2.29	$937K	+41,850	+$144K
Holding	0.02%	Hold	71,660	$13.01	$932K	—	—
ROK, Rockwell Automation	0.02%	Add +2.7%	4,623	$199.22	$921K	+120	−$340K
Black Knight	0.02%, was 0.01%	Add +7.0%	13,243	$65.39	$866K	+871	+$149K
NVO, Novo Nordisk	0.02%	Hold	7,740	$111.37	$862K	—	—
SEB, Seaboard	0.02%	Add +15.3%	219	$3,881	$850K	+29	+$51K
NZF, Nuveen Municipal Credit	0.02%	Add +0.1%	65,110	$12.56	$818K	+89	−$132K
EXPE, Expedia	0.02%, was 0.04%	Reduce −9.0%	8,585	$94.82	$814K	−848	−$1M
MOV, Movado Group	0.02%	Reduce −7.2%	26,322	$30.92	$814K	−2,052	−$294K
ABBNY, ABB	0.02%	Reduce −1.2%	29,771	$26.74	$796K	−366	−$179K
KRP, Kimbell Rty Partners	0.02%	Reduce −19.5%	50,657	$15.67	$794K	−12,265	−$229K
PCH, Potlatchdeltic	0.02%	Add +1.0%	17,952	$44.17	$793K	+186	−$144K
Liberty Media	0.02%	Reduce −1.1%	31,497	$25.15	$792K	−354	−$125K
BIIB, Biogen	0.02%	Hold	3,750	$204.00	$765K	—	—
GM, General Motors	0.02%	Reduce −10.2%	23,650	$31.75	$751K	−2,700	−$402K
RQI, Cohen & Steers Quality Realty	0.02%	Hold	54,233	$13.59	$737K	—	—
UNP, Union Pacific	0.02%	Add +0.1%	3,414	$213.24	$728K	+4	−$204K
GDX, Vaneck Vectors ETF Trust	0.02%, was 0.03%	Reduce −30.8%	26,511	$27.38	$726K	−11,780	−$742K
MYI	0.01%, was 0.02%	Reduce −1.4%	61,405	$11.66	$716K	−874	−$66K
SPSB, SPDR Ser Trust	0.01%	Hold	24,000	$29.75	$714K	—	—
CF Acquisition Corporation VI	0.01%, was 0.02%	Reduce −2.2%	70,689	$9.97	$705K	−1,600	−$153K
GSK	0.01%	Hold	16,146	$43.54	$703K	—	—
GLD, SPDR Gold Shares	0.01%, was 0.02%	Reduce −1.1%	4,152	$168.35	$699K	−45	−$59K
ADI, Analog Devices	0.01%, was 0.02%	Reduce −1.0%	4,750	$146.11	$694K	−50	−$99K
GE, GE Aerospace	0.01%	Add +10.3%	10,702	$63.63	$681K	+1,000	−$207K
XFRAX	0.01%	Hold	59,291	$11.38	$675K	—	—
ALKS, Alkermes	0.01%	Hold	22,000	$29.77	$655K	—	—
BR, Broadridge Financial	0.01%	Hold	4,564	$142.64	$651K	—	—
SNY, Sanofi	0.01%	Hold	13,000	$50.00	$650K	—	—
DIS, Disney	0.01%	Add +13.0%	6,872	$94.44	$649K	+792	−$185K
Gladstone LD	0.01%	Hold	28,944	$22.15	$641K	—	—
DGX, Quest Diagnostics	0.01%	Hold	4,800	$132.92	$638K	—	—
BX, Blackstone	0.01%	Hold	6,660	$91.29	$608K	—	—
VXF, Vanguard Index Funds	0.01%	Add +20.5%	4,544	$131.16	$596K	+774	−$29K
SLV, iShares Silver Trust	0.01%	Hold	31,833	$18.63	$593K	—	—
MPC, Marathon Petroleum	0.01%	Reduce −1.4%	7,120	$82.16	$585K	−100	−$32K
EOG, EOG Resources	0.01%	Add +39.7%	5,282	$110.37	$583K	+1,500	+$132K
GHC, Graham	0.01%	Hold	1,008	$566.47	$571K	—	—
IVZ, Invesco	0.01%	Reduce −2.5%	55,965	$10.20	$571K	−1,457	−$80K
GILD, Gilead Sciences	0.01%	Hold	9,000	$61.78	$556K	—	—
VTI, Vanguard Index Funds	0.01%	Reduce −7.9%	2,836	$188.65	$535K	−242	−$166K
KMB, Kimberly-Clark	0.01%	Add +0.9%	3,950	$135.19	$534K	+34	+$52K
TFX, Teleflex	0.01%	Hold	2,126	$246.00	$523K	—	—
INTC, Intellia Therapeutics	0.01%	Hold	10,000	$51.80	$518K	—	—
Dish Network	0.01%, was 0.02%	Reduce −16.3%	28,535	$17.94	$512K	−5,552	−$567K
SBR, Sabine Royalty Trust	0.01%	Hold	8,312	$60.88	$506K	—	—
VMI, Valmont Industries	0.01%	Reduce −2.2%	2,250	$224.44	$505K	−50	−$44K
Nuveen Sr Income Fund	0.01%	Hold	105,209	$4.79	$504K	—	—
BTZ	0.01%	Reduce −0.5%	44,357	$10.89	$483K	−219	−$77K
IBM	0.01%	Hold	3,370	$141.25	$476K	—	—
RSP	0.01%	Reduce −10.0%	3,543	$134.35	$476K	−395	−$145K
Maverix Metals	0.01%	Add +8.6%	108,662	$4.35	$473K	+8,597	−$7K
INTC, Intel	0.01%	Add +10.6%	12,569	$37.39	$470K	+1,200	−$93K
Pimco ETF Trust	0.01%	Hold	4,700	$99.15	$466K	—	—
IVZ, Invesco Value Mun Income Trust	0.01%	Hold	35,862	$12.88	$462K	—	—
RCL, Royal Caribbean	0.01%	Add +3.5%	13,248	$34.87	$462K	+450	−$610K
OGN, Organon	0.01%	Add +41.3%	13,619	$33.78	$460K	+3,983	+$123K
Holding	0.01%	Hold	55,869	$8.16	$456K	—	—
BELFB, Bel Fuse	0.01%	Hold	28,988	$15.56	$451K	—	—
CNP, Centerpoint Energy	0.01%	Reduce −2.2%	15,139	$29.59	$448K	−333	−$26K
NAN, Nuveen New York QLT Mun	0.01%	Reduce −24.0%	38,042	$11.72	$446K	−12,029	−$183K
ALCO, Alico	0.01%	Reduce −15.5%	12,500	$35.60	$445K	−2,300	−$111K
LIN, Linde	0.01%	Add +0.7%	1,540	$287.66	$443K	+10	−$46K
ALNY, Alnylam Pharmaceuticals	0.01%	Hold	3,000	$146.00	$438K	—	—
Lendingtree	0.01%	Hold	10,000	$43.80	$438K	—	—
FHI, Federated Hermes	0.01%	Reduce −1.7%	39,465	$11.05	$436K	−668	−$74K
Alleghany	0.01%, was 0.18%	Reduce −94.9%	522	$833.33	$435K	−9,764	−$8.3M
FIS, Fidelity National Information Services	0.01%	Add +30.4%	4,628	$91.62	$424K	+1,078	+$68K
Holding	0.01%	Hold	44,652	$9.16	$409K	—	—
DORM, Dorman Products	0.01%	Reduce −47.1%	3,700	$109.73	$406K	−3,300	−$259K
Welbilt	0.01%	Hold	17,000	$23.82	$405K	—	—
ENOV, Enovis	0.01%	New	7,347	$54.99	$404K	+7,347	+$404K
BN, Brookfield Corporation	0.01%	New	8,962	$44.63	$400K	+8,962	+$400K
SYK, Stryker	0.01%	Hold	2,000	$199.00	$398K	—	—
L, Loews	0.01%	Hold	6,678	$59.30	$396K	—	—
NBH, Neuberger Berman Muni Fund	0.01%	Reduce −1.6%	35,001	$11.20	$392K	−561	−$80K
VTRS, Viatris	0.01%	Add +7.7%	36,180	$10.48	$379K	+2,592	+$14K
IAU, iShares Gold Trust	0.01%	Reduce −0.2%	10,896	$34.32	$374K	−20	−$28K
CRSP, Crispr Therapeutics	0.01%	Hold	6,125	$60.73	$372K	—	—
PEP, PepsiCo	0.01%	Add +1.3%	2,232	$166.67	$372K	+28	+$3K
IFF, International Flavors & Fragrances	0.01%	Add +0.7%	3,071	$119.18	$366K	+21	−$35K
AMT, American Tower	0.01%	Hold	1,428	$255.60	$365K	—	—
AJG, Arthur J. Gallagher	0.01%	Reduce −32.6%	2,230	$163.23	$364K	−1,080	−$214K
MQY	0.01%	New	31,715	$11.45	$363K	+31,715	+$363K
GS, Goldman Sachs	0.01%	Hold	1,193	$296.73	$354K	—	—
Scripps E W Co. Ohio	0.01%, was 0.02%	Reduce −41.7%	28,000	$12.46	$349K	−20,000	−$649K
RA	0.01%	Hold	18,862	$18.45	$348K	—	—
Perkinelmer	0.01%	Hold	2,445	$142.33	$348K	—	—
BLK, BlackRock	0.01%	Hold	46,440	$7.45	$346K	—	—
KHC, Kraft Heinz	0.01%	Reduce −3.6%	9,013	$38.17	$344K	−333	−$24K
PYPL, PayPal	0.01%, was 0.02%	Reduce −53.2%	4,929	$69.79	$344K	−5,611	−$875K
CMCSA, Comcast	0.01%	Add +15.8%	8,703	$39.30	$342K	+1,186	−$10K
RYN, Rayonier Advanced Materials	0.01%, was 0.02%	Reduce −6.6%	129,350	$2.62	$339K	−9,100	−$571K
GPC, Genuine Parts	0.01%	Hold	2,500	$132.80	$332K	—	—
XES, SPDR Ser Trust	0.01%	Add +5.8%	5,553	$59.61	$331K	+305	−$63K
ESAB	0.01%	New	7,472	$43.76	$327K	+7,472	+$327K
LEN, Lennar	0.01%	Add +1.1%	4,635	$70.55	$327K	+50	−$45K
Lions Gate Entmnt	0.01%, was 0.02%	Reduce −37.6%	36,869	$8.84	$326K	−22,201	−$562K
BXMT	0.01%	Reduce −1.4%	11,701	$27.69	$324K	−170	−$53K
BN, Brookfield Corporation	0.01%	Add +49.8%	7,605	$42.47	$323K	+2,527	−$60K
MTCH, Match Group	0.01%	Reduce −7.4%	4,503	$69.73	$314K	−360	−$215K
CSWC, Capital Southwest	0.01%	Hold	17,000	$18.41	$313K	—	—
JPM, JPMorgan Chase	0.01%	Reduce −33.5%	6,254	$50.05	$313K	−3,151	−$160K
GBX, Greenbrier Companies	0.01%	Hold	8,500	$36.00	$306K	—	—
JPM, JPMorgan Chase	0.01%	Add +1.4%	2,713	$112.79	$306K	+37	−$59K
BK, BNY	0.01%	Hold	7,194	$41.70	$300K	—	—
QCOM, Qualcomm	0.01%	Add +36.0%	2,340	$127.78	$299K	+620	+$36K
IONS, Ionis Pharmaceuticals	0.01%	Hold	8,000	$37.00	$296K	—	—
WTM, White Mountains Insurance Group	0.01%	Reduce −63.0%	235	$1,247	$293K	−400	−$429K
Neuberger Berman NY Mun Fund	0.01%	Hold	29,442	$9.88	$291K	—	—
BLK, BlackRock	0.01%	Reduce −41.3%	12,950	$22.16	$287K	−9,100	−$234K
WST, West Pharmaceutical	0.01%	Reduce −1.1%	26,726	$10.51	$281K	−293	−$43K
NVG	0.01%	Reduce −0.9%	20,986	$13.10	$275K	−190	−$38K
MTN, Vail Resorts	0.01%	Hold	1,262	$217.91	$275K	—	—
GIS, General Mills	0.01%	Hold	3,600	$75.56	$272K	—	—
Nuveen Int Dur Qual Mun TRM	0.01%	Reduce −1.6%	20,793	$12.70	$264K	−337	−$23K
AWK	0.01%	New	1,760	$148.86	$262K	+1,760	+$262K
MMM, 3M	0.01%	Add +18.9%	1,891	$129.56	$245K	+300	+$8K
ETN, Eaton	0.01%	Hold	20,001	$12.25	$245K	—	—
PHYS, Sprott Physical Gold Trust	0.01%	Hold	17,259	$14.20	$245K	—	—
NVDA, Nvidia	0.01%	Reduce −9.1%	1,600	$151.88	$243K	−160	−$237K
CL, Colgate-Palmolive	0.01%	Add +0.9%	3,005	$80.20	$241K	+27	+$15K
RIO, Rio Tinto	0.00%	Add +2.6%	3,875	$60.90	$236K	+100	−$68K
KKR	0.00%	Hold	5,058	$46.26	$234K	—	—
BLK, BlackRock	0.00%, was 0.01%	Reduce −1.4%	21,102	$11.04	$233K	−309	−$28K
PCM, PCM Fund	0.00%, was 0.01%	Reduce −4.4%	25,095	$9.24	$232K	−1,166	−$35K
IVZ, Invesco	0.00%	Reduce −3.0%	3,020	$75.83	$229K	−95	−$15K
Bakkt	0.00%	Add +13.8%	107,483	$2.10	$226K	+13,028	−$356K
CCI, Crown Castle	0.00%, was 0.01%	Reduce −5.3%	1,345	$168.03	$226K	−75	−$36K
BLK, BlackRock	0.00%	Hold	18,053	$12.41	$224K	—	—
ACN, Accenture	0.00%, was 0.01%	Reduce −8.5%	795	$277.99	$221K	−74	−$72K
ETN, Eaton	0.00%, was 0.01%	Reduce −5.6%	23,478	$9.33	$219K	−1,387	−$42K
SLP, Simulations Plus	0.00%	Hold	4,367	$49.23	$215K	—	—
ETN, Eaton	0.00%	Reduce −5.3%	19,850	$10.68	$212K	−1,105	−$29K
IWC, iShares Trust	0.00%	Hold	2,029	$103.99	$211K	—	—
BAX, Baxter International	0.00%, was 0.01%	Reduce −5.1%	3,225	$64.19	$207K	−175	−$57K
COP, ConocoPhillips	0.00%	Reduce −8.2%	2,253	$89.66	$202K	−200	−$43K
NIM, Nuveen Select Mat Mun Fund	0.00%	Hold	21,500	$9.16	$197K	—	—
ASTL, Algoma Steel Group	0.00%	Add +0.3%	18,239	$8.99	$164K	+59	−$41K
PML, Pimco Mun Income Fund II	0.00%	Hold	15,050	$10.76	$162K	—	—
Holding	0.00%	Hold	21,822	$7.24	$158K	—	—
Vimeo	0.00%, was 0.01%	Reduce −31.5%	25,391	$6.03	$153K	−11,654	−$287K
NMZ	0.00%	Hold	12,099	$11.74	$142K	—	—
BGT	0.00%	Hold	12,678	$11.04	$140K	—	—
ETN, Eaton	0.00%	Hold	12,928	$10.37	$134K	—	—
Holding	0.00%	Reduce −0.7%	15,728	$8.39	$132K	−105	−$14K
DNP, DNP Select Income Fund	0.00%	Reduce −3.6%	12,032	$10.80	$130K	−448	−$18K
LILA, Liberty Latin America	0.00%	Hold	16,578	$7.78	$129K	—	—
ETN, Eaton	0.00%	Hold	21,730	$5.48	$119K	—	—
Annaly Cap Management	0.00%	Hold	19,197	$5.89	$113K	—	—
BLK, BlackRock	0.00%	Hold	10,204	$11.07	$113K	—	—
Pioneer Mun High Income Fund	0.00%	Reduce −13.9%	12,034	$9.31	$112K	−1,947	−$35K
NUV, Nuveen Mun Value Fund	0.00%	Reduce −1.7%	11,632	$8.94	$104K	−200	−$9K
SAN	0.00%	Hold	22,910	$2.79	$64K	—	—
PACB	0.00%	Hold	12,000	$4.42	$53K	—	—
IVZ, Invesco Sr Income Trust	0.00%	Hold	11,113	$3.87	$43K	—	—
Alaunos Therapeutics	0.00%	Hold	34,000	$1.24	$42K	—	—
RIOT, Riot Blockchain	0.00%	Hold	10,000	$4.20	$42K	—	—
GALT, Galectin Therapeutics	0.00%	Hold	26,000	$1.31	$34K	—	—
GCI, Gannett	0.00%	Hold	10,000	$2.90	$29K	—	—
BITF, Bitfarms	0.00%	Hold	18,300	$1.09	$20K	—	—
Nucana	0.00%	Hold	19,467	$0.7192	$14K	—	—

Showing top 50 of 324 by value

Exits / last held

Gone since 2022 Q1, shown at their last reported size.

Stock	% of portfolio	Recent activity	Reported price*	Value	Share change	$ change
Discovery	0.06%	Exit	$24.92	$3M	−118,493	−$3M
Discovery	0.04%	Exit	$24.98	$1.8M	−70,265	−$1.8M
BLK, BlackRock	0.01%	Exit	$12.16	$390K	−32,065	−$390K
SHV, iShares Trust	0.01%	Exit	$110.24	$381K	−3,456	−$381K
OXY, Occidental	0.01%	Exit	$56.78	$321K	−5,653	−$321K
AMZN, Amazon	0.01%	Exit	$3,258	$290K	−89	−$290K
DE, Deere	0.01%	Exit	$415.62	$266K	−640	−$266K
CLF, Cleveland-Cliffs	0.01%	Exit	$32.25	$265K	−8,216	−$265K
BHP, BHP Group	0.01%	Exit	$77.11	$250K	−3,242	−$250K
SLB	—	Exit	$41.33	$248K	−6,000	−$248K
WYNN, Wynn Resorts	—	Exit	$79.69	$244K	−3,062	−$244K
DOW, DOW Inc	—	Exit	$63.74	$241K	−3,781	−$241K
COIN, Coinbase	—	Exit	$190.25	$238K	−1,251	−$238K
CQP	—	Exit	$56.25	$225K	−4,000	−$225K
Holding	—	Exit	$28.00	$224K	−8,000	−$224K
WMT, Walmart	—	Exit	$148.94	$217K	−1,457	−$217K
FTV, Fortive	—	Exit	$61.02	$216K	−3,540	−$216K
NWL, Newell Brands	—	Exit	$21.45	$212K	−9,882	−$212K
Trecora Resources	—	Exit	$8.48	$212K	−25,003	−$212K
Nektar Therapeutics	—	Exit	$5.39	$158K	−29,300	−$158K

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