Understanding the HORIZON KINETICS TEXAS ETF (TEXX)

What this ETF is trying to do

The HORIZON KINETICS TEXAS ETF (ticker: TEXX) is an exchange-traded fund listed on the NASDAQ. While the specific investment goal is not detailed in the provided data, the fund holds a variety of companies, many of which are involved in energy and infrastructure. The ETF currently holds 35 different assets.

What the numbers show

As of October 5, 2026, the current price of TEXX is $29.05.

Because there is not enough verified price history available in the supplied data, several key performance metrics are currently unavailable. This includes the year-to-date (YTD) price return, the one-year price return, and the three-year price return. Additionally, total return data was not supplied.

Because there is no recent price history to analyze, the erosion-risk score is withheld. This means we cannot currently measure if there has been a significant decline in the share price over time.

Income and distribution explanation

Some investors look for ETFs that pay regular cash, known as distributions. For TEXX, no distributions have been detected. The distribution yield is 0%, and there have been zero payouts in the last 12 months. Because of this, the fund has an income rating grade of "D" with a score of 52.

NAV erosion explanation

NAV (Net Asset Value) refers to the actual value of the assets held by the ETF. "NAV erosion" happens when that underlying value decreases over time.

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion. Currently, there is no severe erosion-risk flag for this ETF.

Top Holdings

The following are the top holdings in the TEXX portfolio. Please note that this list is partial and does not include all 35 holdings. Holdings can change over time.

• Permian Basin Royalty Trust (PBT): 8.82%

• Landbridge Co LLC Class A Shares (LB): 7.49%

• US Bank MMDA USBGFS 7: 6.64%

• Diamondback Energy Inc (FANG): 4.40%

• SLB Ltd (SLB): 4.22%

• Texas Pacific Land Corp (TPL): 4.22%

• Waterbridge Infrastructure LLC Ordinary Shares Class A (WBI): 3.55%

• Occidental Petroleum Corp (OXY): 3.48%

• ConocoPhillips (COP): 3.39%

• Plains All American Pipeline LP (PAA): 3.35%

Pros

• The ETF provides exposure to a diverse group of companies, including energy and infrastructure.

• There is currently no severe erosion-risk flag detected.

Cons

• The fund does not currently provide any distributions or income to investors.

• There is a lack of available historical performance data (price returns and total returns) to evaluate how the fund has performed in the past.

Beginner takeaway

TEXX is an ETF that focuses on a specific group of companies, but it does not currently pay out any cash to investors. Because the historical price data is missing from the current report, it is difficult to see how the share price has moved in the past year or more. Investors interested in regular income may find that this fund does not meet that specific goal based on the current data.