Welcome to our dedicated page for Horizon Kinetics SEC filings (Ticker: HKHC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to U.S. Securities and Exchange Commission filings for Horizon Kinetics Holding Corporation (HKHC), the holding company for Horizon Kinetics Asset Management LLC. Investors use these documents to understand the company’s asset management operations, fee structures and exposure to proprietary and private funds.
Through its periodic reports, HKHC details management and advisory fee revenue, other income and fees, operating expenses and results from consolidated investment products. The company explains how it consolidates certain private or proprietary funds, presenting their assets and liabilities on its balance sheet and their income and expenses in its statements of operations, while attributing clients’ interests to redeemable noncontrolling interests. Filings also describe advisor-only or "without consolidation" presentations that remove the impact of consolidated investment products and highlight operating income before fair value changes in investments and digital assets.
Current and prospective shareholders can review quarterly and annual financial statements, including information on assets under management, incentive fees from proprietary funds, unrealized gains and losses on investments and digital asset holdings, and the effects of transactions such as the reverse acquisition merger with Scott's Liquid Gold-Inc. and the conversion from an LLC to a C corporation for tax purposes. Event-driven filings, such as Form 8-K, may incorporate earnings press releases and other material updates by reference.
On Stock Titan, HKHC’s SEC filings are updated in near real time from EDGAR and are accompanied by AI-powered summaries that clarify key points in lengthy reports. Users can quickly see the main drivers of revenue and income, the role of consolidated investment products, and the impact of market movements on the company’s results, while still having direct access to the complete official filings.
Horizon Kinetics Holding Corporation has called its 2026 annual stockholder meeting for June 9, 2026, in a hybrid in‑person and virtual format. Stockholders will vote on electing six directors, ratifying CBIZ CPAs P.C. as auditor for 2026, and approving, on an advisory basis, executive compensation.
The proxy describes leadership succession following the April 2026 passing of co‑founder and former CEO Murray Stahl, with Steven Bregman and Peter Doyle appointed as Co‑Chief Executive Officers. It also outlines 2025 results, including 31% revenue growth, a $9.1 million (13%) reduction in operating expenses, and $9.6 billion in assets under management, and explains a cash‑based pay program with no current equity awards or executive employment contracts.
Horizon Kinetics Holding Corporation announced that Chairman and Chief Executive Officer Murray Stahl passed away on April 7, 2026. Stahl co-founded the firm in 1994 and helped build it into a publicly traded company with a market capitalization of approximately $600 million and a debt-free balance sheet.
To implement its succession plan, the company appointed co-founders Steven Bregman and Peter Doyle as Co-Chief Executive Officers and formed a Founders’ Committee with fellow co-founder Tom Ewing to oversee a seamless transition of responsibilities. The company emphasizes its continued commitment to executing Stahl’s long-term vision for clients and shareholders.
Horizon Kinetics Holding Corp insider Murray Stahl filed an amended Form 4 reporting small open-market purchases of HKHC common stock. On March 20, 2026, he bought 10 shares directly and entities associated with him bought 25 and 18 shares, all at $34.60 per share, totaling 53 shares.
The amendment also corrects previously overstated beneficial ownership figures. After these trades, reported holdings include 249,204 shares directly and large indirect positions such as 8,216,801 shares through Horizon Common Inc., 823,923 shares through FRMO Corp., and additional smaller stakes via several affiliated entities and his spouse. Footnotes state Stahl exercises investment discretion over certain entity-held shares and disclaims beneficial ownership beyond his pecuniary interest.
Horizon Kinetics Holding Corp insider activity shows a modest net buy. CEO and CIO Murray Stahl reported open‑market purchases of a total of 53 shares of Common Stock at $34.60 per share on March 20, 2026, split between direct and entity accounts.
He bought 10 shares directly, while 25 shares were purchased through Horizon Common Inc. and 18 shares through Horizon Kinetics Hard Assets, LLC. After these trades, his direct holding stands at 249,214 shares, and Horizon Common Inc. reports 8,216,801 shares indirectly attributed to him.
Additional indirect holdings are reported via his spouse, FRMO Corp., several Kinetics partnerships, and Horizon Kinetics Asset Management LLC. Footnotes state Stahl exercises investment discretion in these entities and disclaims beneficial ownership except to the extent of his pecuniary interest.
Horizon Kinetics Holding Corp director buys additional shares in the open market. Director Allison Nagelberg purchased 150 shares of common stock at $33.96 per share, bringing her direct holdings to 400 shares. This is a small open-market purchase that modestly increases her personal stake in the company.
Horizon Kinetics Holding Corp (HKHC) director and CEO/CIO Murray Stahl reported small open-market purchases of the company’s common stock. On March 19, 2026, he bought 89 shares in total at $34.06 per share across three transactions. Following these trades, his reported direct holding increased to 249,194 shares.
The filing also lists substantial indirect holdings through related entities. These include Horizon Common Inc., shown with 8,216,776 shares, and FRMO Corp., shown with 823,923 shares, along with smaller positions held via several partnerships and a spouse account. Footnotes state that Stahl exercises investment discretion over these entity-held shares and disclaims beneficial ownership except to the extent of his pecuniary interest.
Horizon Kinetics Holding Corp director and CEO/CIO Murray Stahl reported net open‑market purchases of Horizon Kinetics Holding Corp (HKHC) common stock. On 2026-03-18, he bought 10 shares directly at $34.00 per share, bringing his direct holdings to 249,148 shares.
On the same date, 9 shares were purchased at $34.00 per share and are held indirectly through Horizon Common Inc., which now holds 8,216,751 shares, and 8 shares were purchased at $34.00 per share and are held indirectly through Horizon Kinetics Hard Assets, LLC, which now holds 99 shares. Additional indirect holdings are reported through his spouse, FRMO Corp., Kinetics Institutional Partners LP, Kinetics Partners LP, and Horizon Kinetics Asset Management LLC; he exercises investment discretion over these entities but disclaims beneficial ownership except to the extent of his pecuniary interest.
Horizon Kinetics Holding Corp Chief Financial Officer Mark Herndon reported an open-market purchase of 80 shares of common stock at $33.03 per share. After this transaction, he directly owns 200 shares. This filing shows a small, routine insider buy rather than a large position change.
Horizon Kinetics Holding Corp director Brent D. Rosenthal made an open-market purchase of common stock. On March 18, 2026, he bought 750 shares at a price of $33.05 per share. After this transaction, he directly owns 1,750 common shares of the company.
Horizon Kinetics Holding Corporation reports on its asset‑management business, risk profile and 2025 performance. Regulatory assets under management were $9.6 billion as of December 31, 2025, slightly below $9.8 billion a year earlier, as declines in major holdings offset new products and inflows.
Revenue grew about 30%, driven by higher average AUM and strong mutual fund and ETF fee growth, but incentive fees dropped from $51.7 million in 2024 to $0.7 million in 2025. Investment results were volatile: unrealized gains on investments swung from a $41.3 million gain in 2024 to a $15.6 million loss, mainly from a 22.1% decline in Texas Pacific Land Corporation (TPL).
The firm is highly concentrated: about 65% of AUM at December 31, 2025 was TPL common stock, and the company itself held $49.7 million of TPL. Roughly 14% of AUM was in cryptocurrencies and related vehicles, with direct Bitcoin holdings of 132 BTC worth $11.5 million. Horizon Kinetics reports no debt and held $36.9 million of cash and $76.5 million of investment securities.
The company emphasizes a long-term, contrarian strategy, limited rebalancing and in‑house research. It outlines extensive business, market, concentration, crypto, regulatory, operational and cybersecurity risks. The board declared four cash dividends in 2025 and a further $0.121 per share dividend payable March 31, 2026, and indicates it expects to continue paying dividends subject to performance and cash flows.