HORIZON KINETICS ASSET MANAGEMENT LLC Q2 2025 Filing
Filed August 12, 2025
Portfolio Value
$8.4T
Holdings
352
Report Date
Q2 2025
Filing Type
13F-HR
All Holdings (352 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | TPLTEXAS PACIFIC LAND CORPORATI | 3,577,531 | $3.8T | 44.81% | |
| 2 | GBTCGRAYSCALE BITCOIN TRUST ETF | 14,551,191 | $1.2T | 14.64% | |
| 3 | LBLANDBRIDGE COMPANY LLC | 5,498,925 | $371.6B | 4.41% | |
| 4 | WPMWHEATON PRECIOUS METALS CORP | 2,985,486 | $268.1B | 3.18% | |
| 5 | HEHAWAIIAN ELEC INDUSTRIES | 16,281,709 | $173.1B | 2.05% | |
| 6 | FNVFRANCO NEV CORP | 1,043,546 | $171.1B | 2.03% | |
| 7 | ICEINTERCONTINENTAL EXCHANGE IN | 831,758 | $152.6B | 1.81% | |
| 8 | BTCGRAYSCALE BITCOIN MINI TR ET | 3,072,369 | $146.7B | 1.74% | |
| 9 | LNGCHENIERE ENERGY INC | 484,912 | $118.1B | 1.40% | |
| 10 | CBOECBOE GLOBAL MKTS INC | 412,717 | $96.2B | 1.14% | |
| 11 | CA8ACACI INTL INC | 161,672 | $77.1B | 0.91% | |
| 12 | PBTPERMIAN BASIN RTY TR | 5,839,825 | $72.8B | 0.86% | |
| 13 | BNBROOKFIELD CORP | 1,173,001 | $72.6B | 0.86% | |
| 14 | MSBMESABI TR | 2,960,590 | $70.9B | 0.84% | |
| 15 | CVEOCIVEO CORP CDA | 2,881,033 | $66.5B | 0.79% | |
| 16 | VNOMUSDVIPER ENERGY INC | 1,711,181 | $65.2B | 0.77% | |
| 17 | IBITISHARES BITCOIN TRUST ETF | 961,927 | $58.9B | 0.70% | |
| 18 | MIGAMICROSTRATEGY INC | 145,499 | $58.8B | 0.70% | |
| 19 | ANAUTONATION INC | 261,774 | $52.0B | 0.62% | |
| 20 | CCOCAMECO CORP | 675,700 | $50.2B | 0.59% | |
| 21 | ARISUSDARIS WATER SOLUTIONS INC | 2,095,604 | $49.6B | 0.59% | |
| 22 | LYVLIVE NATION ENTERTAINMENT IN | 311,116 | $47.1B | 0.56% | |
| 23 | OROR ROYALTIES INC. | 1,817,501 | $46.7B | 0.55% | |
| 24 | DBRGDIGITALBRIDGE GROUP INC | 3,617,965 | $37.4B | 0.44% | |
| 25 | CMECME GROUP INC | 127,398 | $35.1B | 0.42% | |
| 26 | MRSHMARSH & MCLENNAN COS INC | 156,787 | $34.3B | 0.41% | |
| 27 | AYS1SANDSTORM GOLD LTD | 3,644,651 | $34.3B | 0.41% | |
| 28 | ACGPASSOCIATED CAP GROUP INC | 866,379 | $32.5B | 0.39% | |
| 29 | GLXYGALAXY DIGITAL INC. | 1,364,267 | $29.9B | 0.35% | |
| 30 | PAGPENSKE AUTOMOTIVE GRP INC | 171,327 | $29.4B | 0.35% | |
| 31 | BGBUNGE GLOBAL SA | 351,309 | $28.2B | 0.33% | |
| 32 | HHHHOWARD HUGHES HOLDINGS INC | 416,373 | $28.1B | 0.33% | |
| 33 | TRCTEJON RANCH CO | 1,647,497 | $27.9B | 0.33% | |
| 34 | SJTSAN JUAN BASIN RTY TR | 4,594,502 | $27.5B | 0.33% | |
| 35 | CCLCARNIVAL CORP | 969,428 | $27.3B | 0.32% | |
| 36 | ADMARCHER DANIELS MIDLAND CO | 505,969 | $26.7B | 0.32% | |
| 37 | JOEST JOE CO | 555,891 | $26.5B | 0.31% | |
| 38 | DMLPDORCHESTER MINERALS LP | 916,849 | $25.5B | 0.30% | |
| 39 | WFGWEST FRASER TIMBER CO LTD | 304,838 | $22.3B | 0.26% | |
| 40 | BRK/BBERKSHIRE HATHAWAY INC DEL | 42,526 | $20.7B | 0.24% | |
| 41 | WTMWHITE MTNS INS GROUP LTD | 10,971 | $19.7B | 0.23% | |
| 42 | IPARINTERPARFUMS INC | 139,780 | $18.4B | 0.22% | |
| 43 | VUSBVANGUARD BD INDEX FDS | 362,083 | $18.1B | 0.21% | |
| 44 | RCLROYAL CARIBBEAN GROUP | 56,172 | $17.6B | 0.21% | |
| 45 | SB9SITIO ROYALTIES CORP | 921,938 | $16.9B | 0.20% | |
| 46 | SIISPROTT INC | 212,898 | $14.7B | 0.17% | |
| 47 | OSKOSHKOSH CORP | 124,206 | $14.1B | 0.17% | |
| 48 | VGSHVANGUARD SCOTTSDALE FDS | 237,388 | $14.0B | 0.17% | |
| 49 | RGLDROYAL GOLD INC | 72,892 | $13.0B | 0.15% | |
| 50 | RPRXROYALTY PHARMA PLC | 353,471 | $12.7B | 0.15% | |
| 51 | SPAQLISTED FDS TR | 113,124 | $11.9B | 0.14% | |
| 52 | BAMBROOKFIELD ASSET MANAGMT LTD | 213,573 | $11.8B | 0.14% | |
| 53 | RBARB GLOBAL INC | 110,030 | $11.7B | 0.14% | |
| 54 | MAMASTERCARD INCORPORATED | 19,957 | $11.2B | 0.13% | |
| 55 | WMBWILLIAMS COS INC | 171,915 | $10.8B | 0.13% | |
| 56 | FWONALIBERTY MEDIA CORP DEL | 89,065 | $9.3B | 0.11% | |
| 57 | WENWENDYS CO | 699,342 | $8.0B | 0.09% | |
| 58 | ETENERGY TRANSFER L P | 439,947 | $8.0B | 0.09% | |
| 59 | LBRDKLIBERTY BROADBAND CORP | 74,613 | $7.3B | 0.09% | |
| 60 | SBRSABINE RTY TR | 109,521 | $7.3B | 0.09% | |
| 61 | ABALLIANCEBERNSTEIN HLDG L P | 164,892 | $6.7B | 0.08% | |
| 62 | 4I1PHILIP MORRIS INTL INC | 35,214 | $6.4B | 0.08% | |
| 63 | NDAQNASDAQ INC | 69,496 | $6.2B | 0.07% | |
| 64 | FCXFREEPORT-MCMORAN INC | 142,847 | $6.2B | 0.07% | |
| 65 | ELSEQUITY LIFESTYLE PPTYS INC | 97,128 | $6.0B | 0.07% | |
| 66 | SAICSCIENCE APPLICATIONS INTL CO | 53,005 | $6.0B | 0.07% | |
| 67 | BCHGGRAYSCALE BITCOIN CASH TRUST BCH | 1,541,264 | $5.9B | 0.07% | |
| 68 | MSFTMICROSOFT CORP | 11,851 | $5.9B | 0.07% | |
| 69 | XOMEXXON MOBIL CORP | 54,253 | $5.8B | 0.07% | |
| 70 | SPGIS&P GLOBAL INC | 10,186 | $5.4B | 0.06% | |
| 71 | MSGSMADISON SQUARE GRDN SPRT COR | 24,838 | $5.2B | 0.06% | |
| 72 | EPDENTERPRISE PRODS PARTNERS L | 162,451 | $5.0B | 0.06% | |
| 73 | MKLMARKEL GROUP INC | 2,416 | $4.8B | 0.06% | |
| 74 | BCDFLISTED FDS TR | 150,778 | $4.7B | 0.06% | |
| 75 | BKKTBAKKT HOLDINGS INC | 335,279 | $4.7B | 0.06% | |
| 76 | BXBLACKSTONE INC | 29,999 | $4.5B | 0.05% | |
| 77 | ABBVABBVIE INC | 23,710 | $4.4B | 0.05% | |
| 78 | INFLLISTED FDS TR | 102,956 | $4.3B | 0.05% | |
| 79 | KLACKLA CORP | 4,776 | $4.3B | 0.05% | |
| 80 | EXPEAGLE MATLS INC | 20,161 | $4.1B | 0.05% | |
| 81 | LHXL3HARRIS TECHNOLOGIES INC | 16,050 | $4.0B | 0.05% | |
| 82 | CSCOCISCO SYS INC | 56,641 | $3.9B | 0.05% | |
| 83 | NTRNUTRIEN LTD | 66,245 | $3.9B | 0.05% | |
| 84 | FWONALIBERTY MEDIA CORP DEL | 40,236 | $3.8B | 0.05% | |
| 85 | XNEAXNUVEEN AMT FREE QLTY MUN INC | 339,465 | $3.7B | 0.04% | |
| 86 | MOALTRIA GROUP INC | 63,147 | $3.7B | 0.04% | |
| 87 | LTCNGRAYSCALE LITECOIN TRUST LTC SHS | 542,478 | $3.6B | 0.04% | |
| 88 | BSMBLACK STONE MINERALS L P | 268,638 | $3.5B | 0.04% | |
| 89 | CRLCHARLES RIV LABS INTL INC | 22,260 | $3.4B | 0.04% | |
| 90 | IRMIRON MTN INC DEL | 32,455 | $3.3B | 0.04% | |
| 91 | FNFFIDELITY NATIONAL FINANCIAL | 58,461 | $3.3B | 0.04% | |
| 92 | NVDANVIDIA CORPORATION | 20,710 | $3.3B | 0.04% | |
| 93 | LLYELI LILLY & CO | 4,106 | $3.2B | 0.04% | |
| 94 | EMREMERSON ELEC CO | 23,692 | $3.2B | 0.04% | |
| 95 | BURBURFORD CAP LTD | 212,489 | $3.0B | 0.04% | |
| 96 | CMRECOSTAMARE INC | 331,100 | $3.0B | 0.04% | |
| 97 | CATCATERPILLAR INC | 7,729 | $3.0B | 0.04% | |
| 98 | AMLPALPS ETF TR | 61,357 | $3.0B | 0.04% | |
| 99 | JNJJOHNSON & JOHNSON | 19,302 | $2.9B | 0.03% | |
| 100 | RTXRTX CORPORATION | 20,099 | $2.9B | 0.03% |
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