Fund HoldingsHORIZON KINETICS ASSET MANAGEMENT LLC

Total Portfolio Value
$7.39B
Total Bought
$537.85M
Total Sold
$641.29M
Net Transaction
-$103.43M
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
HAWAIIAN ELEC INDUSTRIES(HE)18,257,71719,392,363+1,134,646201,565238,5263.23%+36,961
MESABI TR(MSB)2,999,3263,027,698+28,37287,790116,6271.58%+28,837
MIAMI INTL HLDGS INC(MIAX)1,382,4031,819,798+437,39555,65680,7631.09%+25,107
TRIPLE FLAG PRECIOUS METAL(TFPM)26,413425,303+398,89077314,1290.19%+13,356
ROYAL GOLD INC(RGLD)094,876+94,876021,0900.29%+21,090
DIGITALBRIDGE GROUP INC(DBRG)3,286,3973,046,533-239,86438,45146,7340.63%+8,283
ST JOE CO(JOE)555,729554,837-89227,49732,9410.45%+5,443
WHITE MTNS INS GROUP LTD
COM
13,08413,121+3721,87027,2660.37%+5,396
WESTERN MIDSTREAM PARTNERS L(WES)0134,085+134,08505,2960.07%+5,296
CAMECO CORP(CCJ)676,032674,096-1,93656,69261,6730.83%+4,981
CACI INTL INC(CACI)160,665158,591-2,07480,13684,4991.14%+4,362
VANGUARD INDEX FDS025,889+25,88905,4140.07%+5,414
VANGUARD BD INDEX FDS
VANGUARD ULTRA
0342,542+342,542017,0720.23%+17,072
SPROTT INC(SII)214,814214,626-18817,87021,0160.28%+3,146
BUNGE GLOBAL SA(BG)350,083348,994-1,08928,44431,0880.42%+2,644
CBOE GLOBAL MKTS INC(CBOE)409,459408,398-1,061100,420102,5081.39%+2,088
LIBERTY ENERGY INC(LBRT)346,826342,711-4,1154,2806,3260.09%+2,047
SPHERE ENTERTAINMENT CO(SPHR)49,39147,463-1,9283,0684,5130.06%+1,445
CARNIVAL CORP961,734957,548-4,18627,80429,2440.40%+1,440
ELI LILLY & CO(LLY)04,106+4,10604,4130.06%+4,413
ROYALTY PHARMA PLC(RPRX)0353,361+353,361013,6540.18%+13,654
SAN JUAN BASIN RTY TR(SJT)5,611,9816,231,144+619,16333,89635,0190.47%+1,123
BROADRIDGE FINL SOLUTIONS IN(BR)15,04820,423+5,3753,5844,5580.06%+974
FREEPORT-MCMORAN INC(FCX)093,114+93,11404,7290.06%+4,729
FERMI INC(FRMI)0108,701+108,70108700.01%+870
APYX MEDICAL CORPORATION0615,000+615,00002,1530.03%+2,153
COSTAMARE INC(CMRE)0221,950+221,95003,5050.05%+3,505
NASDAQ INC(NDAQ)070,822+70,82206,8790.09%+6,879
MADISON SQUARE GRDN SPRT COR(MSGS)23,72423,344-3805,3856,0380.08%+653
ISHARES SILVER TR(SLV)30,58629,395-1,1911,2961,8940.03%+598
METALLA RTY & STREAMING LTD(MTA)404,397404,39702,5683,1460.04%+578
MERCK & CO INC(MRK)028,147+28,14702,9630.04%+2,963
CHARLES RIV LABS INTL INC(CRL)012,580+12,58002,5090.03%+2,509
CME GROUP INC(CME)276,773275,611-1,16274,78175,2641.02%+483
GRAYSCALE ZCASH(ZCSH)015,173+15,17304770.01%+477
SPDR SERIES TRUST
SP O&G EQP SERV
05,690+5,69004660.01%+466
VIPER ENERGY INC(VNOM)1,721,9271,714,904-7,02365,81266,2470.90%+435
BRISTOL-MYERS SQUIBB CO(BMY)045,110+45,11002,4330.03%+2,433
LIBERTY LIVE HOLDINGS INC(LLYVA)03,744+3,74403110.00%+311
LAS VEGAS SANDS CORP(LVS)039,260+39,26002,5550.03%+2,555
MADISON SQUARE GARDEN ENTMT(MSGE)35,89335,774-1191,6241,9280.03%+304
JOHNSON & JOHNSON(JNJ)16,18015,949-2313,0003,3010.04%+301
TORONTO DOMINION BK ONT(TD)023,317+23,31702,1960.03%+2,196
ALLIANCEBERNSTEIN HLDG L P(AB)188,256193,741+5,4857,1957,4550.10%+260
VANGUARD TAX-MANAGED FDS04,110+4,11002570.00%+257
RIO TINTO PLC(RIO)016,316+16,31601,3060.02%+1,306
ALPHABET INC(GOOG)03,258+3,25801,0220.01%+1,022
CISCO SYS INC(CSCO)038,941+38,94103,0000.04%+3,000
ALPHABET INC(GOOG)03,083+3,08309650.01%+965
CATERPILLAR INC(CAT)04,617+4,61702,6450.04%+2,645
INVESCO EXCHANGE TRADED FD T
S&P500 EQL WGT
03,411+3,41106530.01%+653
AFFILIATED MANAGERS GROUP IN1,9782,195+2174726330.01%+161
NUTRIEN LTD(NTR)051,872+51,87203,2020.04%+3,202
RENN FD INC(RCG)0865,948+865,94802,2250.03%+2,225
REGENERON PHARMACEUTICALS(REGN)735705-304135440.01%+131
VANECK ETF TRUST
JUNIOR GOLD MINE
010,621+10,62101,2080.02%+1,208
ASTRAZENECA PLC(AZN)11,47610,994-4828801,0110.01%+130
IONIS PHARMACEUTICALS INC(IONS)12,47611,952-5248169460.01%+129
GSK PLC(GSK)024,892+24,89201,2210.02%+1,221
DANAHER CORPORATION(DHR)04,416+4,41601,0110.01%+1,011
BARRICK MNG CORP(B)10,52610,547+213454590.01%+114
SPDR GOLD TR(GLD)3,7433,643-1001,3311,4440.02%+113
CITIGROUP INC(C)7,0897,08907208270.01%+108
PROSHARES TR II(AGQ)23,34823,34801,1891,2930.02%+104
NEWMONT CORP(NEM)07,813+7,81307800.01%+780
RTX CORPORATION(RTX)012,731+12,73102,3350.03%+2,335
VANDA PHARMACEUTICALS INC024,824+24,82402190.00%+219
BIOGEN INC(BIIB)3,1192,988-1314375260.01%+89
SEALED AIR CORP NEW033,750+33,75001,3980.02%+1,398
AMGEN INC(AMGN)02,498+2,49808180.01%+818
BANCO SANTANDER SA(SAN)065,060+65,06007630.01%+763
REPLIMUNE GROUP INC(REPL)013,792+13,79201340.00%+134
BANK NEW YORK MELLON CORP11,96411,864-1001,3041,3770.02%+74
CONSTELLATION BRANDS INC(STZ)4,3174,673+3565816450.01%+63
ISHARES GOLD TR(IAU)8,6908,566-1246326950.01%+63
OPENLANE INC(OPLN)071,548+71,54802,1310.03%+2,131
ROCKWELL AUTOMATION INC(ROK)04,215+4,21501,6400.02%+1,640
NOVARTIS AG(NVS)11,79711,394-4031,5131,5710.02%+58
VANECK ETF TRUST
GOLD MINERS ETF
9,0548,673-3816927440.01%+52
TETRA TECHNOLOGIES INC DEL(TTI)013,600+13,60001270.00%+127
NUVEEN AMT FREE QLTY MUN INC0295,249+295,24903,4340.05%+3,434
VANGUARD INDEX FDS02,944+2,94401,8460.02%+1,846
VANECK ETF TRUST
OIL SERVICES ETF
3,5663,415-1519279730.01%+46
SPROTT ASSET MANAGEMENT LP(PHYS)16,63416,262-3724935370.01%+44
SONOCO PRODS CO(SON)030,613+30,61301,3360.02%+1,336
NUVEEN QUALITY MUNCP INCOME(NAD)0161,977+161,97701,9470.03%+1,947
THERMO FISHER SCIENTIFIC INC(TMO)43843802122540.00%+41
LISTED FDS TR
HORZN KINTCS BL
0156,000+156,00004,7140.06%+4,714
ALPS ETF TR
ALERIAN MLP
060,307+60,30702,8360.04%+2,836
AMERICAN EXPRESS CO(AXP)0675+67502500.00%+250
INTERNATIONAL BUSINESS MACHS(IBM)03,710+3,71001,0990.01%+1,099
QUALCOMM INC(QCOM)06,234+6,23401,0660.01%+1,066
LOEWS CORP(L)5,4605,46005485750.01%+27
GE AEROSPACE(GE)6,4796,409-701,9491,9740.03%+25
GE VERNOVA INC(GEV)1,4931,443-509189430.01%+25
BEAM THERAPEUTICS INC(BEAM)9,5979,194-4032332550.00%+22
GREENBRIER COS INC(GBX)08,700+8,70004070.01%+407
SCIENCE APPLICATIONS INTL CO(SAIC)052,662+52,66205,3010.07%+5,301
SPDR S&P 500 ETF TR(SPY)01,294+1,29408820.01%+882
MOVADO GROUP INC(MOV)012,000+12,00002470.00%+247
Page 1 of 1