HORIZON KINETICS ASSET MANAGEMENT LLC

PrivateCIK: 1056823
Location

NEW YORK, NY

351
Positions
$8.82B
Total AUM (reported)
130.28M
Total Shares

Allocation by class

TOTAL AUM$8.82B351 positions
COM$6.09B69.1%
CL A$719.19M8.2%
SHS REP COM UT$552.61M6.3%
CL A SHS REPSTG$262.17M3.0%
COM NEW$220.71M2.5%
UNIT BEN INT$200.74M2.3%
SHS NEW$157.47M1.8%

Portfolio Concentration

Top 360.1%4–1017.4%11–2511.8%Rest10.7%TOP 1077.5%0%100%
Top 3$5.30B60.1%
4–10$1.53B17.4%
11–25$1.04B11.8%
Rest$942.09M10.7%

Top 3 weight

60.1%

Top 10 weight

77.5%

Voting Authority Distribution

Total shares with voting rights: 130.28M

Sole

Full voting authority

130.28M

shares

% of voting shares100.0%
Shared

Joint voting authority

0.00

shares

% of voting shares0.0%
None

No voting authority

0.00

shares

% of voting shares0.0%

Investment Discretion (by position count)

Sole0
Shared0
Other351
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings351
Rows:

TEXAS PACIFIC LAND CORPORATI

DFND
COM
Shares9.80M
TypeSH
Market value$4.29B
48.64%
Sole
9.80M
Shared
0.00
None
0.00

GRAYSCALE BITCOIN TRUST ETF

DFND
SHS REP COM UT
Shares12.14M
TypeSH
Market value$552.61M
6.27%
Sole
12.14M
Shared
0.00
None
0.00

LANDBRIDGE COMPANY LLC

DFND
CL A
Shares5.82M
TypeSH
Market value$461.28M
5.23%
Sole
5.82M
Shared
0.00
None
0.00

HAWAIIAN ELEC INDS INC MTN B

DFND
COM
Shares22.40M
TypeSH
Market value$303.01M
3.44%
Sole
22.40M
Shared
0.00
None
0.00

MIAMI INTL HLDGS INC

DFND
COM
Shares7.84M
TypeSH
Market value$291.42M
3.30%
Sole
7.84M
Shared
0.00
None
0.00

WATERBRIDGE INFRASTRUCTURE L

DFND
CL A SHS REPSTG
Shares7.65M
TypeSH
Market value$262.17M
2.97%
Sole
7.65M
Shared
0.00
None
0.00

WHEATON PRECIOUS METALS CORP

DFND
COM
Shares1.69M
TypeSH
Market value$189.47M
2.15%
Sole
1.69M
Shared
0.00
None
0.00

PERMIAN BASIN RTY TR

DFND
UNIT BEN INT
Shares6.73M
TypeSH
Market value$168.50M
1.91%
Sole
6.73M
Shared
0.00
None
0.00

FRANCO NEV CORP

DFND
COM
Shares773.42K
TypeSH
Market value$161.21M
1.83%
Sole
773.42K
Shared
0.00
None
0.00

GRAYSCALE BITCOIN MINI TR ET

DFND
SHS NEW
Shares6.07M
TypeSH
Market value$157.46M
1.79%
Sole
6.07M
Shared
0.00
None
0.00

INTERCONTINENTAL EXCHANGE IN

DFND
COM
Shares984.70K
TypeSH
Market value$121.23M
1.37%
Sole
984.70K
Shared
0.00
None
0.00

CBOE GLOBAL MKTS INC

DFND
COM
Shares414.63K
TypeSH
Market value$100.62M
1.14%
Sole
414.63K
Shared
0.00
None
0.00

CHENIERE ENERGY INC

DFND
COM NEW
Shares402.04K
TypeSH
Market value$96.09M
1.09%
Sole
402.04K
Shared
0.00
None
0.00

MESABI TR

DFND
CTF BEN INT
Shares3.22M
TypeSH
Market value$81.45M
0.92%
Sole
3.22M
Shared
0.00
None
0.00

CIVEO CORP CDA

DFND
COM NEW
Shares2.29M
TypeSH
Market value$80.18M
0.91%
Sole
2.29M
Shared
0.00
None
0.00

CACI INTL INC

DFND
CL A
Shares153.74K
TypeSH
Market value$71.22M
0.81%
Sole
153.74K
Shared
0.00
None
0.00

CAMECO CORP

DFND
COM
Shares697.74K
TypeSH
Market value$71.07M
0.81%
Sole
697.74K
Shared
0.00
None
0.00

VIPER ENERGY INC

DFND
CL A
Shares1.65M
TypeSH
Market value$70.05M
0.79%
Sole
1.65M
Shared
0.00
None
0.00

BROOKFIELD CORP

DFND
CL A LTD VT SH
Shares1.59M
TypeSH
Market value$67.60M
0.77%
Sole
1.59M
Shared
0.00
None
0.00

CME GROUP INC

DFND
COM
Shares283.77K
TypeSH
Market value$62.67M
0.71%
Sole
283.77K
Shared
0.00
None
0.00

OR ROYALTIES INC.

DFND
COM SHS
Shares1.92M
TypeSH
Market value$60.60M
0.69%
Sole
1.92M
Shared
0.00
None
0.00

WHITEHAWK MINERALS CORP

DFND
CL A
Shares1.55M
TypeSH
Market value$43.20M
0.49%
Sole
1.55M
Shared
0.00
None
0.00

AUTONATION INC

DFND
COM
Shares212.92K
TypeSH
Market value$39.56M
0.45%
Sole
212.92K
Shared
0.00
None
0.00

TEJON RANCH CO

DFND
COM
Shares2.01M
TypeSH
Market value$37.62M
0.43%
Sole
2.01M
Shared
0.00
None
0.00

ST JOE CO

DFND
COM
Shares592.61K
TypeSH
Market value$37.12M
0.42%
Sole
592.61K
Shared
0.00
None
0.00
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