Horizon Kinetics Inflation Beneficiaries ETF
INFL
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 470 Park Avenue South New York NY United States of America 10016
- IPO Date
- Jan 11, 2021
- CIK
- 0001683471
- Website
- horizonkinetics.com
- Similar Companies
- Business
- Horizon Kinetics Inflation Beneficiaries ETF (INFL) is an actively managed exchange-traded fund that seeks long-term growth of capital in real, inflation-adjusted terms by investing primarily in domestic and foreign equity securities of companies expected to benefit directly or indirectly from rising prices of real assets, such as commodities; the portfolio typically holds 20 to 60 positions, including royalty companies, streaming firms, natural resource producers, land owners, and exchanges with pricing power, with top holdings as of December 2025 comprising Wheaton Precious Metals Corp (8.67%), Franco-Nevada Corp (5.23%), Landbridge Co LLC (4.88%), PrairieSky Royalty Ltd (4.73%), Viper Energy Inc (4.73%), OR Royalties Inc (4.41%), Intercontinental Exchange Inc (4.14%), Cameco Corp (3.96%), Texas Pacific Land Corp (3.92%), and WaterBridge Infrastructure LLC (3.82%); the fund distributes quarterly income, with recent payouts of $0.10 per share in September 2025, $0.19 in June 2025, and $0.17 in March 2025, and maintains net assets of approximately $1.29 billion, an expense ratio of 0.85%, and trades on the NYSE under ticker INFL with CUSIP 53656F623. INFL targets investors seeking protection against inflation through companies whose revenues rise with commodity prices without proportional expense increases, spanning sectors like precious metals royalties and streaming, energy royalties, land and resource ownership, commodity trading, and financial exchanges; geographic exposure includes North America (U.S., Canada), Europe (Germany, U.K.), Asia-Pacific (Singapore, Japan, Australia), and global multinationals. Launched on January 11, 2021, by Horizon Kinetics LLC, an independent investment adviser founded in 1994 and headquartered in New York, the ETF operates without subsidiaries or parent entities beyond its adviser, which manages additional funds including the Horizon Kinetics Blockchain Development ETF (BCDF, launched 2022), SPAC Active ETF (SPAQ, 2023), and Medical ETF (MEDX, 2023). Recent developments include sustained asset growth to over $1.2 billion amid 2025 market volatility, ongoing portfolio adjustments such as increased weighting in WaterBridge Infrastructure LLC and OR Royalties Inc, quarterly investor webinars and letters highlighting inflation persistence (e.g., March 18, 2025 call and semi-annual letter), and alignment with Horizon Kinetics' parent Horizon Kinetics Holding Corporation public listing via reverse merger in 2024 (OTC Pink: HKHC), with no reported acquisitions, funding rounds, or name changes in the last 1-2 years.