HORIZON KINETICS ASSET MANAGEMENT LLC
SEC Form 13F institutional filer · CIK 0001056823
13F-HR · 127 reported holdings · 2026-03-31
Asset management firm.
Reported long-US-equity value
$5.28B
Top-10 concentration
97.0%
HORIZON KINETICS ASSET MANAGEMENT LLC — $5.28B AUM allocation strategy
HORIZON KINETICS ASSET MANAGEMENT LLC files SEC Form 13F and reports $5.28B of long US equity value across 127 reported holdings for 2026-03-31.
Its largest sector bet is Energy 90.4%, followed by Financials 5.2% and Consumer Staples 0.9%.
The top 10 holdings account for 97% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
HORIZON KINETICS ASSET MANAGEMENT LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$5.28B
total across 127 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
97% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$BLK +15.6K sh · +$119K+$ICE +8.13K sh · −$2.61M+$OXY +3.27K sh · +$346K
Biggest trims (shares)
−$TPL −318K sh · +$1.78B−$FIS −15.2K sh · −$1.47M−$LYV −12.7K sh · −$239K
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Oil & Gas Exploration & Production90.0%—
- Financial Exchanges & Data4.1%—
- Agricultural Products & Services0.9%—
- Hotels, Resorts & Cruise Lines0.8%—
- Insurance Brokers0.5%—
- Movies & Entertainment0.5%—
- Multi-Sector Holdings0.4%—
- Pharmaceuticals0.2%—
- Other holdings2.7%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $TPL | Texas Pacific Land Corporation | 10M | $4.75B | -318K | 90.0% |
| $ICE | Intercontinental Exchange Inc | 839K | $132M | +8.13K | 2.5% |
| $CME | CME Group Inc | 270K | $79.8M | -5.36K | 1.5% |
| $BG | Bunge Limited | 337K | $42.9M | -12.1K | 0.8% |
| $MRSH | Marsh | 151K | $26.3M | -5.34K | 0.5% |
| $CCL | Carnival Corporation Ltd | 958K | $24.8M | +105 | 0.5% |
| $LYV | Live Nation Entertainment Inc | 157K | $24M | -12.7K | 0.5% |
| $BRK.B | Berkshire Hathaway Inc.-Class B | 38K | $18.2M | +45 | 0.3% |
| $RCL | Royal Caribbean Cruises Ltd | 51.7K | $14.2M | -1.06K | 0.3% |
| $WMB | Williams Companies Inc | 138K | $10.1M | +980 | 0.2% |
…and 117 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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