HORIZON KINETICS ASSET MANAGEMENT LLC Q1 2020 Filing

Filed May 13, 2020

Portfolio Value

$2.3B

Holdings

381

Report Date

Q1 2020

Filing Type

13F-HR

All Holdings (381 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	TPLUSDTEXAS PACIFIC LAND TRUST	1,739,653	$661.1M	29.27%
2	FNVFRANCO NEVADA CORP	1,123,031	$111.8M	4.95%
3	WPMWHEATON PRECIOUS METALS CORP	3,472,301	$95.6M	4.23%
4	CA8ACACI INTL INC	418,563	$88.4M	3.91%
5	HHC*HOWARD HUGHES CORP	1,378,881	$69.7M	3.08%
6	LSXMKUSDLIBERTY MEDIA CORP DEL	1,895,265	$59.9M	2.65%
7	BAMBROOKFIELD ASSET MGMT INC	2,030,857	$59.9M	2.65%
8	IEPICAHN ENTERPRISES LP	1,232,437	$59.7M	2.64%
9	LBRDKLIBERTY BROADBAND CORP	437,209	$48.4M	2.14%
10	CBOECBOE GLOBAL MARKETS INC	510,431	$45.6M	2.02%
11	NVDANVIDIA CORP	402,875	$44.8M	1.98%	Put
12	ACGPASSOCIATED CAP GROUP INC	1,449,128	$44.3M	1.96%
13	WENWENDYS COMPANY	2,689,944	$40.0M	1.77%
14	LYVLIVE NATION ENTERTAINMENT INC.	869,842	$39.5M	1.75%
15	SAICSCIENCE APPLICATNS INTL CP N	510,588	$38.1M	1.69%
16	SVXYPROSHARES TR II	1,207,333	$37.4M	1.66%
17	ACWIISHARES TR	571,930	$35.8M	1.58%
18	CMECME GROUP INC	188,443	$32.6M	1.44%
19	—CHENIERE ENERGY INC	52,257,500	$25.6M	1.13%
20	LNGCHENIERE ENERGY INC	722,563	$24.2M	1.07%
21	VGSHVANGUARD INDEX FDS	353,330	$22.0M	0.98%
22	LM03LIBERTY MEDIA CORP DEL	638,811	$20.2M	0.90%
23	SHVISHARES TR	173,209	$19.2M	0.85%
24	BRK/BBERKSHIRE HATHAWAY INC DEL	100,099	$18.3M	0.81%
25	RGLDROYAL GOLD INC	205,317	$18.0M	0.80%
26	—CIVEO CORP CDA COM	42,495,252	$17.5M	0.78%
27	MAMASTERCARD INC	64,416	$15.6M	0.69%
28	ELSEQUITY LIFESTYLE PPTYS INC	236,670	$13.6M	0.60%
29	AYS1SANDSTORM GOLD LTD	2,462,470	$12.3M	0.55%
30	MKLMARKEL CORP	12,068	$11.2M	0.50%
31	MSGSMADISON SQUARE GARDEN SPORTS CP	51,373	$10.9M	0.48%
32	LBRDALIBERTY BROADBAND CORP	88,140	$9.4M	0.42%
33	IPARINTER PARFUMS INC	198,023	$9.2M	0.41%
34	FWONALIBERTY MEDIA CORP DEL	314,537	$8.6M	0.38%
35	PYPLPAYPAL HLDGS INC	88,794	$8.5M	0.38%
36	GOOGLALPHABET INC	6,647	$7.7M	0.34%
37	GOOGALPHABET INC	6,471	$7.5M	0.33%
38	XNEAXNUVEEN AMT-FREE QLTY MUN INCOME	551,507	$7.5M	0.33%
39	ICEINTERCONTINENTAL EXCHANGE INC	90,262	$7.3M	0.32%
40	BGCPEURBGC PARTNERS INC	2,871,225	$7.2M	0.32%
41	DBLDOUBLELINE OPPORTUNISTIC CR	417,250	$7.1M	0.32%
42	SATSECHOSTAR CORP	213,802	$6.8M	0.30%
43	RMTROYCE MICRO-CAP TR INC	1,187,655	$6.6M	0.29%
44	DMLPDORCHESTER MINERALS LP	687,111	$6.4M	0.28%
45	AMCXAMC NETWORKS INC	253,589	$6.2M	0.27%
46	—GCI LIBERTY INC	105,146	$6.0M	0.27%
47	BABOEING CO	38,094	$5.7M	0.25%
48	VVISA INC	34,647	$5.6M	0.25%
49	—IHS MARKIT LTD	92,223	$5.5M	0.24%
50	NVGSNAVIGATOR HOLDINGS LTD	1,206,377	$5.4M	0.24%
51	LM05LIBERTY MEDIA CORP DEL	206,408	$5.3M	0.24%
52	PDIPIMCO DYNAMIC INCOME FD	230,882	$5.1M	0.23%
53	CRLCHARLES RIV LABS INTL INC	38,691	$4.9M	0.22%
54	REMISHARES TR	255,928	$4.8M	0.21%
55	DSLDOUBLELINE INCOME SOLUTIONS	336,450	$4.5M	0.20%
56	MSBMESABI TR	311,429	$4.5M	0.20%
57	YUSDALLEGHANY CORP	7,226	$4.0M	0.18%
58	LVSLAS VEGAS SANDS CORP	92,466	$3.9M	0.17%
59	BCPCBALCHEM CORP	37,654	$3.7M	0.16%
60	XOMEXXON MOBIL CORP	96,499	$3.7M	0.16%
61	PFNPIMCO INCOME STRATEGY FUND II	452,924	$3.4M	0.15%
62	VTIVANGUARD INDEX FDS	26,118	$3.4M	0.15%
63	MRKMERCK & COMPANY	43,378	$3.3M	0.15%
64	JNJJOHNSON & JOHNSON	24,984	$3.3M	0.15%
65	DISCAUSDDISCOVERY INC	166,209	$3.2M	0.14%
66	MSFTMICROSOFT	19,360	$3.1M	0.14%
67	SPYSPDR S&P 500 ETF TR	11,827	$3.0M	0.13%
68	AAPLAPPLE INC	11,931	$3.0M	0.13%
69	VOOVANGUARD INDEX FDS	12,803	$3.0M	0.13%
70	BRK-BBERKSHIRE HATHAWAY INC DEL	11	$3.0M	0.13%
71	BATRKUSDLIBERTY MEDIA CORP DEL	156,916	$3.0M	0.13%
72	BMYBRISTOL MYERS SQUIBBCO	52,922	$3.0M	0.13%
73	IGSBISHARES TR	54,000	$2.8M	0.13%
74	NBBNUVEEN TAXABLE MUNICIPAL INC FUND	141,663	$2.7M	0.12%
75	CXEMFS HIGH INCOME MUN TR	554,692	$2.6M	0.12%
76	ABBVABBVIE INC	33,151	$2.5M	0.11%
77	GQ9SPDR GOLD TRUST GOLD	16,757	$2.5M	0.11%
78	LGF/BEURLIONS GATE ENTMNT CORP	423,252	$2.4M	0.10%
79	NADNUVEEN QUALITY MUNI INC FD	170,676	$2.3M	0.10%
80	ENOVCOLFAX CORP	118,443	$2.3M	0.10%
81	4I1PHILIP MORRIS INTL INC	31,954	$2.3M	0.10%
82	CSCOCISCO SYSTEMS INC	56,921	$2.2M	0.10%
83	APYXAPYX MED CORP	615,000	$2.2M	0.10%
84	PFEPFIZER INC	65,225	$2.1M	0.09%
85	WMBWILLIAMS COS INC	146,716	$2.1M	0.09%
86	—PIMCO INCOME OPPORTUNITY FD	102,214	$2.1M	0.09%
87	NVSNNOVARTIS AG	24,810	$2.0M	0.09%
88	JPSTJP MORGAN EXCHANGE TRADED FDULTRA SHRT INC	39,346	$2.0M	0.09%
89	PEPPEPSICO INC	16,034	$1.9M	0.09%
90	BACVERIZON COMMUNICATIONS	35,498	$1.9M	0.08%
91	LHXL3 HARRIS TECHNOLOGIES INC	10,375	$1.9M	0.08%
92	LLYELI LILLY AND COMPANY	13,154	$1.8M	0.08%
93	—MANTECH INTL CORP	25,000	$1.8M	0.08%
94	DISDISNEY WALT CO DISNEY	18,127	$1.8M	0.08%
95	VCSHVANGUARD INDEX FDS	21,919	$1.7M	0.08%
96	DHRDANAHER CORP	12,523	$1.7M	0.08%
97	UNPUNION PACIFIC CORP	12,090	$1.7M	0.08%
98	BIPBROOKFIELD INFRASTRUCTURE PARTNERS LP	46,861	$1.7M	0.07%
99	—GAMCO INVESTORS INC	153,004	$1.7M	0.07%
100	PFLPIMCO INCOME STRATEGY FUND	198,271	$1.7M	0.07%

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