The Horizon Kinetics Texas ETF is an actively managed exchange-traded fund launched by Horizon Kinetics LLC on January 22, 2026. It seeks long-term capital appreciation through a concentrated portfolio of Texas-based companies that benefit from the state's unique economic advantages, including abundant energy reserves, plentiful land, and a favorable corporate legal structure. These holdings are often underrepresented in major indexes, allowing the fund to capture regional growth themes such as the expansion of data centers and artificial intelligence infrastructure, driven by Texas's inexpensive energy, water, and available space. Notable examples of relocations to Texas include companies like Goldman Sachs, Oracle, and Tesla, underscoring the state's appeal for business development. The ETF applies Horizon Kinetics' proprietary, research-driven, long-term, fundamentals-based, and value-oriented investment philosophy, honed over 30 years. It emphasizes sectors like energy, oil, gas, consumable fuels, and energy equipment services, positioning it to leverage Texas's role as an emerging center of gravity for technology and energy innovation.