Follow-The-Filings

Featured 13F manager

Horizon Kinetics Asset Management LLC Murray Stahl

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

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

Portfolio

2026 Q2 · filed 8/11/2026 · 348 long · top 12 shown

top 5 66.8% · top 10 77.5%

AUM over time

2026 Q2 $8.8B −4.5% QoQ
2021 Q3 · $4.3B 2021 Q3 · $4.3B
Q3 2021
2021 Q4 · $4.5B · +6.1% QoQ 2021 Q4 · $4.5B · +6.1% QoQ
Q4
2022 Q1 · $5B · +9.3% QoQ 2022 Q1 · $5B · +9.3% QoQ
Q1 2022
2022 Q2 · $4.8B · −3.8% QoQ 2022 Q2 · $4.8B · −3.8% QoQ
Q2
2022 Q3 · $5B · +4.0% QoQ 2022 Q3 · $5B · +4.0% QoQ
Q3
2022 Q4 · $5.9B · +19.0% QoQ 2022 Q4 · $5.9B · +19.0% QoQ
Q4
2023 Q1 · $5.2B · −11.9% QoQ 2023 Q1 · $5.2B · −11.9% QoQ
Q1 2023
2023 Q2 · $4.6B · −10.8% QoQ 2023 Q2 · $4.6B · −10.8% QoQ
Q2
2023 Q3 · $5B · +8.7% QoQ 2023 Q3 · $5B · +8.7% QoQ
Q3
2023 Q4 · $4.8B · −5.4% QoQ 2023 Q4 · $4.8B · −5.4% QoQ
Q4
2024 Q1 · $5.3B · +10.7% QoQ 2024 Q1 · $5.3B · +10.7% QoQ
Q1 2024
2024 Q2 · $5.7B · +8.2% QoQ 2024 Q2 · $5.7B · +8.2% QoQ
Q2
2024 Q3 · $6.7B · +16.8% QoQ 2024 Q3 · $6.7B · +16.8% QoQ
Q3
2024 Q4 · $8B · +20.2% QoQ 2024 Q4 · $8B · +20.2% QoQ
Q4
2025 Q1 · $8.8B · +9.7% QoQ 2025 Q1 · $8.8B · +9.7% QoQ
Q1 2025
2025 Q2 · $8.4B · −4.3% QoQ 2025 Q2 · $8.4B · −4.3% QoQ
Q2
2025 Q3 · $8.2B · −2.7% QoQ 2025 Q3 · $8.2B · −2.7% QoQ
Q3
2025 Q4 · $7.4B · −9.9% QoQ 2025 Q4 · $7.4B · −9.9% QoQ
Q4
2026 Q1 · $9.2B · +24.9% QoQ 2026 Q1 · $9.2B · +24.9% QoQ
Q1 2026
2026 Q2 · $8.8B · −4.5% QoQ 2026 Q2 · $8.8B · −4.5% QoQ
Q2

Book

2026 Q1 2025 Q4 · filed 15 May · long equity

TPL - Texas Pacific Land 51.49% Reduce −3.1% 10,015,379 $474.56 $4.8B −318,383 +$1.8B
GBTC - Grayscale Bitcoin Trust ETF 8.00% Reduce −0.8% 14,004,882 $52.76 $739M −108,711 −$226M
LB - Landbridge · CL A 4.23% Add +0.3% 5,657,134 $69.05 $391M +14,368 +$114M
HE - Hawaiian Elec 3.48% Add +11.6% 21,635,294 $14.84 $321M +2,242,931 +$83M
WPM - Wheaton Precious Metals 2.50% Reduce −29.4% 1,761,519 $131.01 $231M −731,999 −$62M
WBI — · CL A 2.13% Add +7.4% 7,342,147 $26.79 $197M +504,627 +$60M
FNV - Franco Nev 2.03% Reduce −21.8% 757,297 $247.05 $187M −210,804 −$14M
PBT - Permian Basin Rty Tr 1.49% Add +3.1% 6,379,692 $21.52 $137M +191,892 +$32M
MIAX - Miami Intl 1.46% Add +89.7% 3,451,549 $38.92 $134M +1,631,751 +$54M
ICE - Intercontinental Exchange 1.43% Add +1.0% 838,899 $157.28 $132M +8,133 −$3M
LNG - Cheniere Energy 1.29% Reduce −9.3% 420,328 $283.76 $119M −43,001 +$29M
CBOE - Cboe Global Mkts 1.25% Add +0.4% 410,066 $281.07 $115M +1,668 +$13M
MSB - Mesabi Tr 1.07% Add +3.7% 3,140,972 $31.50 $99M +113,274 −$18M
BTC - Grayscale Bitcoin Mini Tr 0.98% Add +0.2% 3,004,416 $29.99 $90M +7,356 −$26M
CACI - Caci Intl · CL A 0.91% Reduce −2.5% 154,648 $543.87 $84M −3,943 −$390K
CME - CME Group 0.86% Reduce −1.9% 270,253 $295.35 $80M −5,358 +$5M
VNOM - Viper Energy · CL A 0.85% Reduce −3.0% 1,662,641 $46.99 $78M −52,263 +$12M
CCJ - Cameco 0.77% Reduce −3.3% 651,825 $108.61 $71M −22,271 +$9M
OR - Or Royalties 0.72% Reduce −3.4% 1,754,144 $38.02 $67M −60,880 +$2M
BN - Brookfield · CL A 0.69% Reduce −0.7% 1,571,936 $40.47 $64M −11,774 −$9M
CVEO - Civeo Cda 0.67% Reduce −4.0% 2,352,353 $26.46 $62M −97,134 +$6M
AN - Autonation 0.48% Reduce −12.3% 225,053 $195.26 $44M −31,426 −$9M
BG - Bunge Global SA 0.46% Reduce −3.5% 336,944 $127.20 $43M −12,050 +$12M
TRC - Tejon Ranch 0.39% Reduce −0.5% 1,902,606 $18.84 $36M −9,967 +$6M
HKHC — 0.38% Add 0.0% 1,075,416 $33.00 $35M +103 +$10M
JOE - St Joe 0.37% Reduce −2.2% 542,609 $62.80 $34M −12,228 +$1M
SJT - San Juan Basin Rty Tr 0.36% Add +12.0% 6,978,841 $4.81 $34M +747,697 −$1M
GBTC - Ishares Bitcoin Trust ETF 0.33% Reduce −0.4% 793,343 $38.42 $30M −3,520 −$9M
SII - Sprott 0.32% Reduce −3.6% 206,997 $142.90 $30M −7,629 +$9M
WTM - White Mtns Ins Group 0.31% Reduce −0.1% 13,112 $2,197 $29M −9 +$2M
MMC - Marsh & Mclennan Cos 0.28% Reduce −3.4% 151,341 $173.45 $26M −5,344 −$3M
CCL1EUR — 0.27% Add 0.0% 957,653 $25.88 $25M +105 −$4M
LYV - Live Nation 0.26% Reduce −7.5% 157,169 $152.51 $24M −12,715 −$239K
DMLP - Dorchester Minerals L P 0.25% Reduce −1.8% 860,226 $27.10 $23M −15,436 +$4M
GLXY - Galaxy Digital · CL A 0.25% Add +0.1% 1,250,969 $18.45 $23M +1,415 −$5M
PAG - Penske Automotive Grp 0.23% Reduce −16.1% 142,507 $149.52 $21M −27,367 −$6M
BRK.B - Berkshire Hathaway · CL B 0.20% Add +0.1% 38,033 $479.20 $18M +45 −$869K
RBA - Rb Global 0.19% Add +73.5% 186,731 $95.85 $18M +79,104 +$7M
MSTR - Strategy · CL A 0.19% Reduce −0.1% 139,253 $124.80 $17M −124 −$4M
OSK - Oshkosh 0.18% Reduce −0.3% 115,789 $147.21 $17M −404 +$2M
BND - Vanguard Bd Index Fds 0.18% Reduce −1.0% 339,054 $49.78 $17M −3,488 −$192K
RPRX - Royalty Pharma · CLASS A 0.18% Reduce −3.6% 340,783 $47.97 $16M −12,578 +$3M
DBRG - Digitalbridge Group · CL A 0.16% Reduce −69.2% 939,380 $15.42 $14M −2,107,153 −$32M
TFPM - Triple Flag Precious Metal 0.16% Reduce −2.8% 413,430 $34.71 $14M −11,873 +$222K
RCL - Royal Caribbean Group 0.15% Reduce −2.0% 51,698 $275.18 $14M −1,060 −$489K
IPAR - Interparfums 0.14% Reduce −0.2% 138,333 $90.84 $13M −225 +$812K
HHH - Howard Hughes 0.13% Reduce −33.0% 196,410 $63.26 $12M −96,950 −$11M
RGLD - Royal Gold 0.13% Reduce −50.3% 47,142 $254.49 $12M −47,734 −$9M
WMB - Williams Cos 0.11% Add +0.7% 138,301 $72.78 $10M +980 +$2M
MA - Mastercard · CL A 0.11% Reduce −0.3% 19,516 $499.65 $10M −63 −$1M

Showing top 50 of 316 by value

Exits / last held

not current holdings · last reported size, unchanged · gone vs 2025 Q4

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
AZNN — 0.01% Exit 0 $91.96 $1M −10,994 −$1M
PCH - Potlatchdeltic 0.01% Exit 0 $39.77 $933K −23,457 −$933K
Telefonica S A 0.01% Exit 0 $4.05 $822K −203,058 −$822K
BLK - Blackrock Munivest Fd 0.01% Exit 0 $6.93 $645K −93,068 −$645K
BLK - Blackrock 0.01% Exit 0 $10.03 $606K −60,430 −$606K
BLK - Blackrock Munivest Fd Ii 0.01% Exit 0 $10.81 $518K −47,926 −$518K
BLK - Blackrock 0.01% Exit 0 $11.20 $472K −42,157 −$472K
BLK - Blackrock Muniyield Quality 0.01% Exit 0 $10.06 $429K −42,650 −$429K
KKR — Exit 0 $127.40 $305K −2,394 −$305K
VEA - Vanguard Tax-Managed Fds Exit 0 $62.53 $257K −4,110 −$257K
BGC - BGC Group · CL A Exit 0 $8.92 $237K −26,562 −$237K
ADP - Automatic Data Processing Exit 0 $257.74 $233K −904 −$233K
DORM - Dorman Prods Exit 0 $123.33 $222K −1,800 −$222K
CNS - Cohen & Steers Exit 0 $62.65 $204K −3,256 −$204K
EVLV — · CL A Exit 0 $7.19 $97K −13,500 −$97K

* Reported price is value ÷ shares from the 13F as of period end — not a live market quote. Weight % is each long-equity position ÷ full 13F AUM, so rows may not sum to 100% when the filing includes options or other non-equity (excluded from this table). Share change and $ change are vs 2025 Q4. Click column headers to sort · click New / Hold / Add / Reduce to promote that move type to the top. Exit opens the last-held block below.

Filings history

20 periods · normalized AUM · open a period for holdings

Period Holdings 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 Q3–2026 Q2

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