HORIZON KINETICS ASSET MANAGEMENT LLC
Adviser information for HORIZON KINETICS ASSET MANAGEMENT LLC last updated from Form ADV on March 28th, 2024. Select data displayed; additional Form ADV, Form D, Form 13F and other data is available from the Fincoded API.
Advisory Business
| Type of Organization | Limited Liability Company |
|---|---|
| Fiscal Year End | DECEMBER |
| Legal Location | Delaware, United States |
Employees
| Total Number of Employees | 77 |
|---|---|
| Investment Advisory/Research | 21 |
| Registered Broker-Dealer Representatives | 23 |
| Registered State Investment Advisers | 0 |
| Licensed Agents of an Insurance Company | 0 |
| No. of Firms/People that Solicit Clients | 4 |
RAUM
| Provides Management of Securities Portfolios | Yes |
|---|
| Type | Accounts | RAUM |
|---|---|---|
| Discretionary | 1,997 | $6.3B |
| Non-Discretionary | 33 | $206.5M |
| Total | 2,030 | $6.5B |
Clients
| Type | Number | RAUM |
|---|---|---|
| Individuals | 0 | $0 |
| HNW Individuals | 1,798 | $2.0B |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 16 | $2.3B |
| Business development companies | 0 | $0 |
| Pooled investment vehicles | 28 | $1.1B |
| Pension and profit sharing plans | 19 | $171.4M |
| Charitable organizations | 17 | $25.5M |
| State or municipal gov entities | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses | 152 | $870.5M |
| Other | 0 | $0 |
| Type | Number |
|---|---|
| No. of Non-RAUM Clients | 0 |
| No. of Non-U.S. Clients | 2 |
Services
| Advisory Services | Portfolio management for individuals and/or small businessesPortfolio management for investment companiesPortfolio management for pooled investment vehiclesPortfolio management for businesses or institutional clientsPublication of periodicals or newsletters |
|---|---|
| Compensation | % of AUMSubscription feesFixed feesPerformance-based fees |
Wrap Fee Program
| Offers Wrap Fee Program | Yes |
|---|
| Acting As | RAUM |
|---|---|
| Sponsor | 0 |
| Portfolio Manager | 651.8M |
| Both for Same | 0 |
| Portfolio Manager to Program | Sponsor |
|---|---|
| BPM-BAIRD RECOMMENDED MANAGER | ROBERT W. BAIRD & CO. INCORPORATED |
| STIFEL CONNECT - DUAL / OPPORTUNITY WRAP | STIFEL, NICOLAUS & COMPANY, INCORPORATED |
| RBC MAP AND FLEXNET | RBC CAPITAL MARKETS, LLC |
| WEDBUSH | WEDBUSH SECURITIES INC. |
| JANNEY ADVISOR | JANNEY MONTGOMERY SCOTT LLC |
| SPA | MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED |
| CEM | MORGAN STANLEY |
| PERSHING ADVISORY SERVICES | PERSHING LLC |
| RAYMOND JAMES OSM | RAYMOND JAMES (USA) LTD |
| MAC | UBS FINANCIAL SERVICES INC. |
| WELLS FARGO PRIVATE ADVISOR NETWORK | WELLS FARGO SECURITIES, LLC |
| LOCKWOOD PMAS | LOCKWOOD SECURITIES LLC |
Principal Office
470 PARK AVENUE SOUTH4TH FLOOR SOUTH
NEW YORK
NY
United States
Monday - Friday, 9-5
Tel: 646-291-2300, Fax: 646-495-0075
Chief Compliance Officer
RUSSELL GRIMALDI
SENIOR VICE PRESIDENT & ASSOCIATE GENERAL COUNSEL
470 PARK AVENUE SOUTH
8TH FLOOR SOUTH
NEW YORK
NY
United States
Tel:
646-867-1145
Fax:
646-495-0078
R********@******************M
(Full email address available in API data)
Regulatory Contact
JAY KESSLEN
MANAGING DIRECTOR & GENERAL COUNSEL
470 PARK AVENUE SOUTH
8TH FLOOR SOUTH
NEW YORK
NY
United States
Tel:
646-867-1176
Fax:
646-403-3597
J*******@******************M
(Full email address available in API data)
Industry Affiliates
| HORIZON DIAMOND ADVISERS, LLC | Sponsor, GP, manager of pooled investment vehicles |
| KBD SECURITIES, LLC | Broker-dealer, municipal securities dealer, or gov securities broker or dealer |
| KINETICS FUNDS DISTRIBUTOR LLC | Broker-dealer, municipal securities dealer, or gov securities broker or dealer |
| MSRH, LLC | Other investment adviser, including financial plannersSponsor, GP, manager of pooled investment vehicles |
Private Funds
| Name | Type | Assets $USD | Min Investment $USD | No. Owners |
|---|---|---|---|---|
| CDK FUND LTD | Hedge Fund | $17.9M | $0.5M | 2 |
| CDK PARTNERS LP | Hedge Fund | $8.1M | $0.5M | 3 |
| HK LANGFORD INCOME OPPORTUNITIES FUND LLC | Private Equity Fund | $0.3M | $0.3M | 42 |
| HKJ REAL ESTATE FUND, LP | Hedge Fund | $28.3M | $0.3M | 58 |
| HORIZON CREDIT OPPORTUNITIES FUND LP | Hedge Fund | $9.2M | $0.5M | 3 |
| HORIZON CREDIT OPPORTUNITIES MASTER FUND LTD. | Hedge Fund | $11.7M | $0.0M | 2 |
| HORIZON CREDIT OPPORTUNITIES OFFSHORE FUND LTD. | Hedge Fund | $2.4M | $0.5M | 2 |
| HORIZON KINETICS EQUITY OPPORTUNITIES FUND LP | Hedge Fund | $239.8M | $0.0M | 1021 |
| HORIZON MULTI-DISCIPLINARY FUND LP | Hedge Fund | $16.2M | $0.5M | 8 |
| HORIZON MULTI-DISCIPLINARY MASTER FUND LTD. | Hedge Fund | $23.9M | $0.0M | 2 |
| HORIZON MULTI-DISCIPLINARY OFFSHORE FUND LTD. | Hedge Fund | $7.6M | $0.5M | 4 |
| HORIZON MULTI-STRATEGY FUND, LP | Hedge Fund | $116.6M | $0.5M | 30 |
| HORIZON MULTI-STRATEGY OFFSHORE FUND, LTD. | Hedge Fund | $8.3M | $0.5M | 3 |
| KINETICS INSTITUTIONAL PARTNERS LP | Hedge Fund | $36.7M | $0.5M | 8 |
| KINETICS PARADIGM PARTNERS LP | Hedge Fund | $30.0M | $1.0M | 8 |
| KINETICS PARTNERS LP | Hedge Fund | $28.3M | $0.5M | 11 |
| POLESTAR FUND LP | Hedge Fund | $259.1M | $0.5M | 83 |
| POLESTAR OFFSHORE FUND LTD | Hedge Fund | $106.2M | $0.5M | 11 |
| SOUTH LASALLE PARTNERS LP | Hedge Fund | $60.6M | $0.5M | 58 |
Control Persons
| Name | Type | Entity | Title | Since | Ownership |
|---|---|---|---|---|---|
| BREGMAN, STEVEN | Individual | – | PRESIDENT AND ELECTED MANAGER | 10/1994 | < 5% |
| DOYLE, PETER, BRENDAN | Individual | – | MANAGING DIRECTOR AND ELECTED MANAGER | 10/1994 | < 5% |
| EWING, THOMAS, CRIMMINS | Individual | – | ELECTED MANAGER | 02/1996 | < 5% |
| STAHL, MURRAY | Individual | – | CHAIRMAN, CHIEF EXECUTIVE OFFICER AND CHIEF INVESTMENT OFFICER | 10/1994 | < 5% |
| KESSLEN, JAY, HARRIS | Individual | – | GENERAL COUNSEL, MANAGING DIRECTOR, ELECTED MANAGER AND SECRETARY | 04/2011 | < 5% |
| BREGMAN, STEVEN | Individual | HORIZON KINETICS LLC | ELECTED MANAGER | 04/2011 | |
| DOYLE, PETER, BRENDAN | Individual | HORIZON KINETICS LLC | ELECTED MANAGER | 04/2011 | |
| EWING, THOMAS, CRIMMINS | Individual | HORIZON KINETICS LLC | ELECTED MANAGER | 04/2011 | |
| STAHL, MURRAY | Individual | HORIZON KINETICS LLC | CHAIRMAN OF THE BOARD OF MANAGERS AND ELECTED MANAGER | 04/2011 | |
| DOYLE, LAWRENCE, PATRICK | Individual | HORIZON KINETICS LLC | ELECTED MANAGER | 04/2011 | |
| POLYAKOV, LEONID | Individual | HORIZON KINETICS LLC | ELECTED MANAGER | 04/2011 | |
| HORIZON KINETICS LLC | Domestic Entity | – | OWNER | 04/2011 | > 75% |
| HORIZON COMMON INC | Domestic Entity | HORIZON KINETICS LLC | OWNER | 04/2011 | 25-50% |
| KINETICS COMMON INC | Domestic Entity | HORIZON KINETICS LLC | OWNER | 04/2011 | 25-50% |
| DOYLE, LAWRENCE, PATRICK | Individual | – | ELECTED MANAGER | 04/2011 | < 5% |
| POLYAKOV, LEONID | Individual | – | CHIEF FINANCIAL OFFICER AND ELECTED MANAGER | 04/2011 | < 5% |
| KESSLEN, JAY, HARRIS | Individual | HORIZON KINETICS LLC | ELECTED MANAGER | 04/2011 | |
| GRIMALDI, RUSSELL, WAYNE | Individual | – | CHIEF COMPLIANCE OFFICER, SENIOR VICE PRESIDENT AND ASSOCIATE GENERAL COUNSEL | 01/2017 | < 5% |
| WILLIAMS, ALUN, L | Individual | – | CHIEF OPERATING OFFICER, MANAGING DIRECTOR, ELECTED MANAGER AND ASSISTANT SECRETARY | 02/2021 | < 5% |
| WILLIAMS, ALUN, L | Individual | HORIZON KINETICS LLC | ELECTED MANAGER | 02/2021 |
No. Employees, Historic
RAUM, Historic
No. Clients, Historic
Holdings
From latest 13F, filed August 14th, 2024 for period ending June 30th, 2024
| Name | Class | Value $USD | # Shares | Private Fund |
|---|---|---|---|---|
| 2SEVENTY BIO INC | COMMON STOCK | 67K | 17K | – |
| 3M CO | COM | 608K | 6K | – |
| ABBOTT LABS | COM | 1M | 10K | – |
| ABBVIE INC | COM | 4M | 24K | – |
| AFLAC INC | COM | 268K | 3K | – |
| ALGOMA STL GROUP INC | COM | 132K | 19K | – |
| ALKERMES PLC | COM | 555K | 23K | – |
| ALLOGENE THERAPEUTICS INC | COM | 45K | 19K | – |
| ALNYLAM PHARMACEUTICALS INC | COM | 700K | 3K | – |
| ALPHABET INC CLASS A | CL A | 905K | 5K | – |
| ALPHABET INC CLASS C | CL C | 1M | 6K | – |
| ALPS ETF TR ALERIAN MLP | ALERIAN MLP | 3M | 55K | – |
| ALTRIA GROUP INC | COM | 2M | 40K | – |
| AMAZON COM INC | COM | 212K | 1K | – |
| AMERICAN STS WTR CO | COM | 328K | 5K | – |
| AMERICAN TOWER REIT | COM | 303K | 2K | – |
| AMERICAN WTR WKS CO INC NEW | COM | 226K | 2K | – |
| AMGEN INC | COM | 1M | 4K | – |
| ANALOG DEVICES INC | COM | 984K | 4K | – |
| APPLE INC | COM | 2M | 8K | – |
| APPLIED DIGITAL CORP | COM NEW | 150K | 25K | – |
| APYX MED CORP | COM | 824K | 615K | – |
| ARCHER DANIELS MIDLAND CO | COM | 41M | 674K | – |
| ASSOCIATED CAP GROUP INC CL A | CL A | 34M | 1M | – |
| ASTRAZENECA PLC SPONSORED ADR | SPONSORED ADR | 1M | 13K | – |
| ATLANTA BRAVES HLDGS INC | COM SER A | 1M | 28K | – |
| ATLANTA BRAVES HLDGS INC | COM SER C | 2M | 54K | – |
| AUTONATION INC | COM | 46M | 292K | – |
| BAKKT HOLDINGS INC | COM CL A NEW | 8M | 449K | – |
| BANCO SANTANDER CENT HISPANO ADR | ADR | 192K | 41K | – |
| BANK AMER CORP | COM | 1M | 26K | – |
| BANK OF NEW YORK MELLON CORP | COM | 723K | 12K | – |
| BEAM THERAPEUTICS INC | COM | 225K | 10K | – |
| BERKSHIRE HATHAWAY INC DEL | CL A | 612K | 1 | – |
| BERKSHIRE HATHAWAY INC DEL CL B NEW | CL B NEW | 18M | 45K | – |
| BGC GROUP INC | CL A | 1M | 127K | – |
| BICYCLE THERAPEUTICS PLC SPONSORED ADS | SPONSORED ADS | 291K | 14K | – |
| BIOGEN INC | COM | 724K | 3K | – |
| BITFARMS LTD | COM | 47K | 18K | – |
| BLACK STONE MINERALS LP | COM UNIT | 3M | 166K | – |
| BLACKROCK CREDIT ALL INC TR | COM | 435K | 41K | – |
| BLACKROCK FLOAT RATE OME STR | COM | 767K | 59K | – |
| BLACKROCK FLOATING RATE INCOME | COM | 162K | 13K | – |
| BLACKROCK MUNI INCOME FD | COM | 1M | 102K | – |
| BLACKROCK MUNIHLDGS QUALITY FUND II INC | COM | 616K | 60K | – |
| BLACKROCK MUNIHOLDINGS FD | COM | 2M | 140K | – |
| BLACKROCK MUNIVEST FD INC | COM | 333K | 46K | – |
| BLACKROCK MUNIYIELD QLTY FD | COM | 477K | 43K | – |
| BLACKROCK MUNIYIELD QUALITY | COM | 394K | 38K | – |
| BLACKSTONE INC | COM CL A | 1M | 9K | – |
| BLACKSTONE MTG TR INC | COM CL A | 416K | 24K | – |
| BLUEBIRD BIO INC | COM | 36K | 36K | – |
| BOEING CO | COM | 327K | 2K | – |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 618K | 4K | – |
| BP PLC SPONS ADR | SPONSORED ADR | 349K | 10K | – |
| BRISTOL MYERS SQUIBBCO | COM | 2M | 45K | – |
| BROOKFIELD ASSET MANAGMT LTDCL A LMT VTG S | CL A LMT VTG SHS | 10M | 270K | – |
| BROOKFIELD CORP CL A LMT VTG S | CL A LTD VT SH | 48M | 1M | – |
| BROOKFIELD INFRASTRUCTURE PARTNERS LP | LP INT UNIT | 853K | 31K | – |
| BROOKFIELD REAL ASSETS INCOME FUND | SHS BEN INT | 154K | 12K | – |
| BROOKFIELD REINS LTD CL A-1 EXCH NO | CL A-1 EXCH NO | 802K | 19K | – |
| BUNGE GLOBAL SA | COM SHS | 31M | 288K | – |
| BURFORD CAP LTD | ORD SHS | 5M | 366K | – |
| BWX TECHNOLOGIES INC | COM | 262K | 3K | – |
| CACI INTL INC CL A | CL A | 159M | 371K | – |
| CAMECO CORP | COM | 26M | 519K | – |
| CARNIVAL CORP PAIREDCTF | COMMON STOCK | 20M | 1M | – |
| CATERPILLAR INC | COM | 2M | 6K | – |
| CBOE GLOBAL MARKETS INC | COM | 69M | 404K | – |
| CENTERPOINT ENERGY INC | COM | 255K | 8K | – |
| CHARLES RIV LABS INTL INC | COM | 33M | 160K | – |
| CHENIERE ENERGY INC | COM NEW | 83M | – | – |
| CHESAPEAKE ENERGY CORP | COM | 1M | 15K | – |
| CHEVRON CORP | COM | 2M | 14K | – |
| CISCO SYSTEMS INC | COM | 2M | 41K | – |
| CITIGROUP INC | COM NEW | 391K | 6K | – |
| CIVEO CORP | COM NEW | 82M | 3M | – |
| CME GROUP INC | COM | 28M | 141K | – |
| CMS ENERGY CORP | COM | 921K | 15K | – |
| COCA COLA CO | COM | 365K | 6K | – |
| COHEN & STEERS INC | COM | 312K | 4K | – |
| COHEN & STEERS QUALITY RLTY | COM | 591K | 51K | – |
| COLGATE PALMOLIVE CO | COM | 289K | 3K | – |
| COMCAST CORP | CL A | 378K | 10K | – |
| CONOCOPHILLIPS | COM | 205K | 2K | – |
| COSTAMARE INC SHS | SHS | 4M | 228K | – |
| CRA INTL INC | COM | 2M | 11K | – |
| CRISPR THERAPEUTICS AG | NAMEN AKT | 577K | 11K | – |
| CSW INDUSTRIALS INC | COM | 2M | 7K | – |
| CVS HEALTH CORP | COM | 846K | 14K | – |
| DANAHER CORP | COM | 2M | 9K | – |
| DISNEY WALT CO | COM | 451K | 5K | – |
| DORCHESTER MINERALS LP | COM UNIT | 28M | 892K | – |
| DORMAN PRODUCTS INC | COM | 274K | 3K | – |
| DOUBLELINE INCOME SOLUTIONS | COM | 793K | 63K | – |
| DOUBLELINE OPPORTUNISTIC CR | COM | 1M | 70K | – |
| DOW INC | COM | 365K | 7K | – |
| EAGLE MATERIALS | COM | 8M | 36K | – |
| EATOM CORP PLC | SHS | 306K | 975 | – |
| EATON VANCE LTD DURATION INC | COM | 121K | 12K | – |
| EATON VANCE MUN BD FD | COM | 187K | 18K | – |
| EATON VANCE SR FLTNG RTE TR | COM | 262K | 20K | – |
| EATON VANCE SR INCOME TR | SH BEN INT | 138K | 22K | – |
| EBAY INC | COM | 756K | 14K | – |
| EDITAS MEDICINE INC | COM | 148K | 32K | – |
| ELI LILLY AND COMPANY | COM | 4M | 4K | – |
| EMERSON ELEC CO | COM | 2M | 18K | – |
| ENERGY TRANSFER EQUITY L P | COM UT LTD PTN | 3M | 171K | – |
| ENTERPRISE PRODS PARTNERS L | COM | 2M | 66K | – |
| EOG RES INC | COM | 726K | 6K | – |
| EQUITY LIFESTYLE PPTYS INC | COM | 8M | 117K | – |
| EVOLV TECHNOLOGIES HLDNGS IN | COM CL A | 38K | 15K | – |
| EXXON MOBIL CORP | COM | 5M | 47K | – |
| FEDERATED HERMES INC | CL B | 928K | 28K | – |
| FEDERATED HERMES PREM MUN INC FD | COM | 400K | 35K | – |
| FIDELITY NATIONAL FINANCIAL | FNF GROUP COM | 2M | 43K | – |
| FIDELITY NATL INFORMATION SVC | COM | 2M | 24K | – |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 299K | 6K | – |
| FITLIFE BRANDS INC | COM NEW | 3M | 77K | – |
| FRANCO NEVADA CORP | COM | 109M | 919K | – |
| FREEPORT MCMORAN INC | CL B | 5M | 101K | – |
| GALECTIN THERAPEUTICS INC | COM NEW | 121K | 54K | – |
| GALLAGHER ARTHUR J & CO | COM | 518K | 2K | – |
| GE HEALTHCARE TECHNOLOGIES INC | COMMON STOCK | 271K | 3K | – |
| GE VERNOVA INC | COM | 286K | 2K | – |
| GENERAL ELECTRIC CO | COM NEW | 1M | 7K | – |
| GENERAL MTRS CO | COM | 267K | 6K | – |
| GENUINE PARTS CO | COM | 318K | 2K | – |
| GOLDMAN SACHS GROUP INC | COM | 540K | 1K | – |
| GRAYSCALE BASIC ATTENTION | TOKEN TR | 21K | 2K | – |
| GRAYSCALE BITCOIN CASH | TRUST BCH | 10M | 953K | – |
| GRAYSCALE BITCOIN | TRUST BTC | 794M | 15M | – |
| GRAYSCALE DECENTRALAND | TRUST | 14K | 691 | – |
| GRAYSCALE DIGITAL LARGE CAP | FUND | 923K | 41K | – |
| GRAYSCALE ETHEREUM CLASSIC | TRUST | 817K | 66K | – |
| GRAYSCALE ETHEREUM TR | ETH SHS | 209K | 7K | – |
| GRAYSCALE LITECOIN TRUST | LTC SHS | 6M | 295K | – |
| GRAYSCALE ZCASH | TR ZEC COM | 70K | 15K | – |
| GREENBRIER COS INC | COM | 374K | 8K | – |
| GSK PLC | SPONSORED ADR | 969K | 25K | – |
| HALEON PLC | SPON ADS | 116K | 14K | – |
| HONEYWELL INTL INC | COM | 1M | 6K | – |
| HORZN KINTCS BL | LISTED FD TR | 2M | 92K | – |
| LISTED FD TR | HORIZON KINETICS | 226K | 8K | – |
| HORIZON KINETICS | LISTED FD TR | 3M | 84K | – |
| HORZN KNTCS SPAC | LISTED FD TR | 12M | 123K | – |
| HOWARD HUGHES HOLDINGS INC | COM | 33M | 504K | – |
| I B M | COM | 631K | 4K | – |
| INTEL CORP | COM | 957K | 31K | – |
| INTELLIA THERAPEUTICS INC | COM | 322K | 14K | – |
| INTER PARFUMS INC | COM | 18M | 156K | – |
| INTERCONTINENTAL EXCHANGE INC | COM | 102M | 744K | – |
| INTL FLAVORS & FRAGRANCES | COM | 290K | 3K | – |
| INVESCO QUALITY MUNI INC | COM | 219K | 22K | – |
| INVESCO EXCHANGE TRADED FD T | S&P500 EQL WGT | 503K | 3K | – |
| INVESCO TR INVT GRADE NEW YO | COM | 117K | 10K | – |
| IONIS PHARMACEUTICALS INC | COM | 595K | 12K | – |
| IRON MTN INC NEW | COM | 2M | 24K | – |
| ISHARES BITCOIN TRUST | SHS | 25M | 720K | – |
| ISHARES GOLD TR | ISHARES NEW | 387K | 9K | – |
| ISHARES SILVER TR | ISHARES | 823K | 31K | – |
| ISHARES TR | GL TIMB FORE ETF | 547K | 7K | – |
| JOHNSON & JOHNSON | COM | 2M | 17K | – |
| JP MORGAN CHASE & CO | COM | 823K | 4K | – |
| JP MORGAN EXCHANGE TRADED F | ULTRA SHRT INC | 211K | 4K | – |
| KAYNE ANDERSON ENERGY INFRSTR | COM | 131K | 13K | – |
| KIMBELL RTY PARTNERS LP | UNIT | 1M | 76K | – |
| KINDER MORGAN INC DEL | COM | 2M | 100K | – |
| KKR & CO INC | COM | 532K | 5K | – |
| KLA-TENCOR CORP | COM NEW | 3M | 4K | – |
| KRAFT HEINZ COMPANY | COM | 264K | 8K | – |
| KRANESHARES TR | GLOBAL CARB STRA | 1M | 31K | – |
| L3 HARRIS TECHNOLOGIES INC | COM | 2M | 10K | – |
| LANDBRIDGE COMPANY LLC | CL A | 109M | 5M | – |
| LANTERN PHARMA INC | COM | 134K | 29K | – |
| LAS VEGAS SANDS CORP | COM | 2M | 49K | – |
| LENNAR CORP | CL A | 766K | 5K | – |
| LIBERTY BROADBAND CORP | COM SER C | 5M | 92K | – |
| LIBERTY ENERGY INC | COM CL A | 5M | 236K | – |
| LIBERTY MEDIA CORP DEL | COM LBTY LIV S C | 356K | 9K | – |
| LIBERTY MEDIA CORP DEL | COM LBTY LIV S C | 1M | 35K | – |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S A | 6M | 99K | – |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S C | 7M | 103K | – |
| LIBERTY MEDIA CORP DEL | COM LBTY SRM S A | 432K | 19K | – |
| LIBERTY MEDIA CORP DEL | COM LBTY SRM S C | 2M | 98K | – |
| LINDE PLC SHS | SHS | 641K | 1K | – |
| LIVE NATION ENTERTAINMENT INC | COM | 34M | 366K | – |
| LOEWS CORP | COM | 431K | 6K | – |
| MADISON SQUARE GARDEN ENTMT | COM CL A | 2M | 47K | – |
| MADISON SQUARE GARDEN SPORTS CP CL A | CL A | 6M | 31K | – |
| MARATHON PETE CORP | COM | 1M | 6K | – |
| MARKEL GROUP INC | COM | 4M | 3K | – |
| MARKETAXESS HLDGS INC | COM | 254K | 1K | – |
| MARSH & MCLENNAN COS INC | COM | 25M | 120K | – |
| MASTERCARD INC | CL A | 9M | 21K | – |
| MCDONALDS CORP | COM | 1M | 4K | – |
| MERCK & COMPANY | COM | 3M | 26K | – |
| MESABI TR | CTF BEN INT | 45M | 3M | – |
| META PLATFORMS INC | CL A | 293K | 581 | – |
| METALLA RTY & STREAMING LTD | COM NEW | 1M | 400K | – |
| MFS HIGH INCOME MUN TR | SH BEN INT | 102K | 28K | – |
| MICROSOFT | COM | 4M | 8K | – |
| MICROSTRATEGY INC | CL A NEW | 26M | 19K | – |
| MONDELEZ INTL INC | CL A | 1M | 15K | – |
| MOVADO GROUP INC | COM | 454K | 18K | – |
| NASDAQ INC | COM | 6M | 104K | – |
| NETFLIX COM INC | COM | 253K | 375 | – |
| NEUBERGER BERMAN MUNI FD INC | COM | 442K | 41K | – |
| NEWMONT CORP | COM | 811K | 19K | – |
| NEXTERA ENERGY INC | COM | 203K | 3K | – |
| NORFOLK SOUTHN CORP | COM | 714K | 3K | – |
| NOVARTIS AG SPONSORED ADR | SPONSORED ADR | 1M | 12K | – |
| NOVO-NORDISK A S ADR | ADR | 2M | 15K | – |
| NUTRIEN LTD | COM | 16M | 309K | – |
| NUVEEN AMT-FREE QLTY MUN INCOME | COM | 4M | 337K | – |
| NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 345K | 28K | – |
| NUVEEN AMT FREE MUN CR INC F | COM | 175K | 14K | – |
| NUVEEN FLOATING RATE INCOME | COM | 1M | 121K | – |
| NUVEEN MUN HIGH INC OPP FD | COM | 112K | 10K | – |
| NUVEEN MUN VALUE FD INC | COM | 100K | 12K | – |
| NUVEEN NY AMT FREE QLTY MUN INC FD | COM | 742K | 67K | – |
| NUVEEN NY QLTY INCOME FD | COM | 234K | 21K | – |
| NUVEEN PFD & INCOME OPPORTUN | COM | 125K | 17K | – |
| NUVEEN QUALITY MUNI INC FD | COM | 1M | 111K | – |
| NUVEEN SELECT MAT MUN FD SH BEN INT | SH BEN INT | 194K | 22K | – |
| NUVEEN TAXABLE MUNICIPAL INC FUND | COM | 418K | 27K | – |
| NVIDIA CORP | COM | 2M | 13K | – |
| OCCIDENTAL PETE CORP | COM | 287K | 5K | – |
| OIL STATE INTERNATIONAL INC | COM | 50K | 11K | – |
| OPENLANE INC | COM | 2M | 109K | – |
| OSHKOSH CORP | COM | 15M | 136K | – |
| OSISKO GOLD ROYALTIES LTD | COM | 22M | 1M | – |
| PACIFIC BIOSCIENCES CALIF INCOM | COM | 16K | 12K | – |
| PATTERSON UTI ENERGY INC | COM | 4M | 395K | – |
| PCM FUND INC | COM | 182K | 25K | – |
| PENSKE AUTOMOTIVE GRP INC | COM | 27M | 184K | – |
| PEPSICO INC | COM | 362K | 2K | – |
| PERMIAN BASIN RTY TR | UNIT BEN INT | 41M | 4M | – |
| PFIZER INC | COM | 2M | 57K | – |
| PHILIP MORRIS INTL INC | COM | 2M | 23K | – |
| PIMCO DYNAMIC INCOME FD | SHS | 1M | 56K | – |
| PIMCO INCOME STRATEGY FUND | COM | 808K | 99K | – |
| PIMCO INCOME STRATEGY FUND II | COM | 2M | 277K | – |
| PIMCO MUN INCOME FD II | COM | 128K | 15K | – |
| PIMCO NY MUNICIPAL INCOME FD | COM | 269K | 34K | – |
| POTLATCHDELTIC CORP NEW | COM | 3M | 65K | – |
| PRESTIGE CONSMR HEALTHCARE I | COM | 213K | 3K | – |
| PROSHARES TR II | SHT VIX ST TRM | 2M | 25K | – |
| PROSHARES TR | ULTRAPRO QQQ | 489K | 7K | – |
| PROSHARES TR | ULTRAPRO SHT QQQ | 513K | 62K | – |
| QUALCOMM INC | COM | 1M | 6K | – |
| QUEST DIAGNOSTICS INC | COM | 623K | 5K | – |
| RAYONIER ADVANCED MATLS INC | COM | 635K | 117K | – |
| RAYONIER INC | COM | 2M | 85K | – |
| RB GLOBAL INC | COM | 9M | 117K | – |
| REGENERON PHARMACEUTICALS | COM | 774K | 736 | – |
| RELMADA THERAPEUTICS INC | COM | 90K | 30K | – |
| RENN FUND INC | COM | 986K | 580K | – |
| REPLIMUNE GROUP INC | COM | 130K | 14K | – |
| RESIDEO TECHNOLOGIES INC | COM | 1M | 66K | – |
| RIO TINTO PLC | SPONSORED ADR | 521K | 8K | – |
| ROCKWELL AUTOMATION INC | COM | 1M | 5K | – |
| ROYAL CARIBBEAN GROUP | COM | 9M | 56K | – |
| ROYAL GOLD INC | COM | 11M | 89K | – |
| ROYALTY PHARMA PLC | SHS CLASS A | 6M | 229K | – |
| ROYCE MICRO-CAP TR INC | COM | 1M | 139K | – |
| RTX CORPORATION | COM | 1M | 13K | – |
| S&P GLOBAL INC | COM | 8M | 19K | – |
| SABINE ROYALTY TR | UNIT BEN INT | 6M | 100K | – |
| SAN JUAN BASIN RTY TR | UNIT BEN INT | 4M | 1M | – |
| SANDSTORM GOLD LTD | COM NEW | 22M | 4M | – |
| SCHLUMBERGER | COM STK | 208K | 4K | – |
| SCIENCE APPLICATNS INTL CP | COM | 48M | 408K | – |
| SCRIPPS E W CO OHIO | CL A NEW | 63K | 20K | – |
| SEABOARD CORP DEL | COM | 455K | 144 | – |
| SEALED AIR CORP NEW | COM | 1M | 36K | – |
| SITIO ROYALTIES CORP | CLASS A COM | 18M | 775K | – |
| SONOCO PRODUCTS | COM | 1M | 23K | – |
| SPDR GOLD TR | GOLD SHS | 837K | 4K | – |
| SPDR SER TR | OILGAS EQUIP | 4M | 39K | – |
| SPHERE ENTERTAINMENT CO | CL A | 2M | 53K | – |
| SPROTT INC | COM NEW | 7M | 162K | – |
| SPROTT PHYSICAL GOLD TRUST UNIT | UNIT | 300K | 17K | – |
| SPDR S&P 500 ETF TR | TR UNIT | 916K | 2K | – |
| STAR BULK CARRIERS CORP | SHS PAR | 1M | 44K | – |
| STRYKER CORP | COM | 681K | 2K | – |
| SUNCOR ENERGY INC NEW COM ISIN | COM | 2M | 58K | – |
| TEJON RANCH CO | COM | 16M | 909K | – |
| TELEFONICA S A | SPONSORED ADR | 1M | 311K | – |
| TETRA TECHNOLOGIES INC DEL | COM | 47K | 14K | – |
| TEXAS PACIFIC LAND CORP | COM | 3B | 4M | – |
| THE SAINT JOE CO | COM | 29M | 531K | – |
| TORONTO DOMINION BK ONT | COM NEW | 1M | 21K | – |
| TRADEWEB MKTS INC | CL A | 424K | 4K | – |
| TRI POINTE HOMES INC | COM | 5M | 140K | – |
| TRIPLE FLAG PRECIOUS METAL | COM | 389K | 25K | – |
| VALMONT INDS INC | COM | 460K | 2K | – |
| VANDA PHARMACEUTICALS INC | COM | 146K | 26K | – |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 1M | 29K | – |
| VANECK ETF TRUST | GOLD MINERS ETF | 420K | 12K | – |
| VANECK ETF TRUST | OIL SVCS ETF | 1M | 4K | – |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 577K | 8K | – |
| VANGUARD BD INDEX FDS | VANGUARD ULTRA | 15M | 301K | – |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 860K | 5K | – |
| VANGUARD INDEX FDS | S&P 500 ETF SHS | 2M | 3K | – |
| VANGUARD INDEX FDS | TOTAL STK MKT | 376K | 1K | – |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 13M | 225K | – |
| VERALTO CORP | COM SHS | 227K | 2K | – |
| VERISK ANALYTICS INC | CL A | 2M | 7K | – |
| VIPER ENERGY INC | CL A | 50M | 1M | – |
| VISA INC | COM CL A | 1M | 4K | – |
| W P CAREY INC | COM | 1M | 21K | – |
| WENDYS COMPANY | COM | 17M | 1M | – |
| WEST FRASER TIMBER LTD | COM | 18M | 237K | – |
| WEYERHAEUSER CO | COM NEW | 923K | 33K | – |
| WHEATON PRECIOUS METALS CORP | COM | 145M | 3M | – |
| WHITE MTNS INS GROUP LTD | COM | 2M | 1K | – |
| WILLIAMS COS INC | COM | 6M | 144K | – |
| WISDOMTREE INC | COM | 2M | 212K | – |
| WSTRN AST INFL LKD OPP & I | COM | 224K | 26K | – |
| DIREXION SHS ETF TR | DAILY GOLD MINER | 281K | 20K | – |
| DIREXION SHS ETF TR | DLY JR GOLD 2X | 196K | 28K | – |
| BARCLAYS BANK PLC | IPTH SR B S&P | 1M | 39K | – |
| PROSHARES TR II | VIX SH TRM FUTRS | 504K | 23K | – |