HORIZON KINETICS ASSET MANAGEMENT LLC is an institutional investment manager that files quarterly 13F reports with the SEC. As of Q4 2025, the fund manages $7.4B in reported equity holdings across 324 positions. The largest holdings are TPL (40.1%), GBTC (13.0%), WPM (4.0%), LB (3.7%), HE (3.2%). The portfolio is concentrated in Other (95.3%), Financial Services (1.7%), Energy (1.6%). Data sourced from SEC EDGAR 13F filings (CIK 1056823).