HORIZON KINETICS ASSET MANAGEMENT LLC

Q1 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
3/31/2025
Date filed
5/15/2025
Form type
13F-HR
Num holdings
347
Total value ($000)
$8,814,786
Net value change ($000)
+782,232 (9.7%)
New positions
7
Sold out positions
10
Turnover %
0.2%
Sector allocation + QoQ delta (equities-only)
Prev filing: 2/10/2025 Next filing: 8/12/2025 SEC filing

Snapshot: Change Analysis

Compared to Q4 2024
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
TPL 774,726 19.4%
HE 115,441 498.6%
WPM 64,675 39.2%
LB 45,939 13.2%
FNV 44,020 37.9%
Aris Water Solutions, Inc. 41,424 754.3%
ICE 21,259 17.7%
CBOE 13,659 16.9%
VUSB 11,265 133.4%
LNG 6,883 6.5%
Top Reduces (Value $000, Stocks/ETFs)
GBTC -164,975 -14.7%
CACI -75,671 -52.1%
SAIC -39,631 -87.2%
DBRG -20,178 -39.9%
BTC -16,619 -13.0%
BN -6,546 -9.4%
BKKT -6,203 -68.1%
CRL -5,885 -53.3%
CCL -5,826 -21.6%
CCJ -5,663 -17.9%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 2,140 (0.0% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type