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Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Horizon Kinetics Texas ETF

TEXX | ETF

$28.69

$1.4 M

0.00%

0.85%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$1.4 M

Holdings in Top 10

50.3%

52 WEEK LOW AND HIGH

$28.5
$25.36
$29.68

Expenses

OPERATING FEES

Expense Ratio 0.85%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Horizon Kinetics Texas ETF

TEXX | ETF

$28.69

$1.4 M

0.00%

0.85%

TEXX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency N/A

Fund Details

  • Legal Name
    Horizon Kinetics Texas ETF
  • Fund Family Name
    N/A
  • Inception Date
    Jan 22, 2026
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing primarily in the equity securities of Texas companies. Under normal circumstances, at least 80% of the Fund’s net assets (plus any borrowings for investment purposes) will be invested in securities of Texas companies.
The Fund’s investment adviser, Horizon Kinetics Asset Management LLC (the “Adviser”), generally considers a company to be a Texas company if it meets one or more of the following criteria: (i) it is organized as a Texas entity (i.e., Texas-domiciled corporations, trusts, limited liability companies, etc.), (ii) it conducts a large portion of its business in Texas (i.e., it derives at least 50% of its business or investment revenues within Texas), or (iii) it maintains its corporate headquarters within Texas.
The Fund’s investments in equity securities are generally expected to include, without limitation, common and preferred stock, ownership units of publicly traded master limited partnerships (“MLPs”), units of real estate investment trusts (“REITs”), depositary receipts and other equity-related instruments (primarily convertible bonds). The Fund’s MLP investments may include MLPs structured as limited partnerships (“LPs”) or limited liability companies (“LLCs”) that are taxable as partnerships. While the Fund may invest in equity securities of MLPs, the Fund will limit its investment in MLPs, or other companies taxed as partnerships, in order to comply with applicable tax diversification rules. The Fund will not invest in General Partnerships (“GPs”).
The Adviser seeks to identify companies it believes are positioned to benefit from Texas’s long-term economic expansion and the drivers of such growth. Such companies may include, for example, oil exploration and production companies, energy and natural resources companies, companies in manufacturing and industrial production, business and financial services companies, as well as technology, water-related (e.g., water supply, water transport, water handling, water disposal, water treatment, and water storage), real property, agriculture, and transportation companies. The Adviser’s research and analysis
seeks to identify companies that it believes are well-positioned to benefit from trends in Texas, principally resulting from its growing population and recent tax and legal changes the Adviser believes are favorable for growth. The Adviser expects to sell portfolio holdings when it determines that a security no longer fits this investment thesis, becomes less attractively valued, or when superior opportunities are identified.
The Fund’s portfolio generally will include the securities of approximately 20 to 60 issuers and may range from small- to large-capitalization companies. Although the Fund expects that most portfolio securities will be from Texas companies, the Fund may also invest 20% of its assets in equities of non-Texas companies.
The Fund’s investment strategy may dictate that the Fund’s holdings will be represented in multiple sectors that will vary at different points in time, and may result in a substantial focus in one or more sectors from time to time. The Fund will concentrate in the securities of companies in the Oil, Gas & Consumable Fuels Industry and Energy Equipment & Services Industry within the Energy Sector, as classified by the Global Industry Classification Standard.
The Fund is classified as a “non-diversified” investment company under the Investment Company Act of 1940 (the “1940 Act”) and, therefore, may invest a greater percentage of its assets in a particular issuer than a diversified fund.
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TEXX - Performance

Return Ranking - Trailing

Period TEXX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period TEXX Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period TEXX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period TEXX Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

TEXX - Holdings

Concentration Analysis

TEXX Category Low Category High TEXX % Rank
Net Assets 1.4 M N/A N/A N/A
Number of Holdings 31 N/A N/A N/A
Net Assets in Top 10 1.77 M N/A N/A N/A
Weighting of Top 10 50.31% N/A N/A N/A

Top 10 Holdings

  1. US BANK MMDA - USBGFS 7 8.33%
  2. Landbridge Co LLC 6.42%
  3. Permian Basin Royalty Trust 6.11%
  4. Texas Pacific Land Corp 5.81%
  5. Diamondback Energy Inc 4.72%
  6. Occidental Petroleum Corp 4.09%
  7. SLB Ltd 3.93%
  8. ConocoPhillips 3.67%
  9. Exxon Mobil Corp 3.61%
  10. EOG Resources Inc 3.61%

Asset Allocation

Weighting Return Low Return High TEXX % Rank
Stocks 		91.66% N/A N/A N/A
Cash 		8.34% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Other 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Bonds 		0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High TEXX % Rank
Utilities 		0.00% N/A N/A N/A
Technology 		0.00% N/A N/A N/A
Real Estate 		0.00% N/A N/A N/A
Industrials 		0.00% N/A N/A N/A
Healthcare 		0.00% N/A N/A N/A
Financial Services 		0.00% N/A N/A N/A
Energy 		0.00% N/A N/A N/A
Communication Services 		0.00% N/A N/A N/A
Consumer Defense 		0.00% N/A N/A N/A
Consumer Cyclical 		0.00% N/A N/A N/A
Basic Materials 		0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High TEXX % Rank
US 		91.66% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

TEXX - Expenses

Operational Fees

TEXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.85% N/A N/A N/A
Management Fee 0.85% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

TEXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

TEXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TEXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

TEXX - Distributions

Dividend Yield Analysis

TEXX Category Low Category High TEXX % Rank
Dividend Yield 0.00% N/A N/A N/A

Dividend Distribution Analysis

TEXX Category Low Category High Category Mod
Dividend Distribution Frequency

Net Income Ratio Analysis

TEXX Category Low Category High TEXX % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

TEXX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

TEXX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

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