In This Article:
Annual and Fourth Quarter 2024 Highlights:
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Revenues of $57.2 million for the year ended December 31, 2024, an increase of 21.0%
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Revenues of $19.2 million for the fourth quarter of 2024, an increase of 81.8%
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Net income attributable to Horizon Kinetics Holding Corporation of $75.8 million and $92.5 million, or $4.07 and $5.07 per common share for the three months and year ended December 31, 2024, respectively
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Assets under management ("AUM") grew to $9.8 billion as of December 31, 2024, an increase of 18% for the fourth quarter and 52% for the year ended December 31, 2024
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Board of Directors declares a $0.107 per share dividend
NEW YORK, NY / ACCESS Newswire / March 26, 2025 / Horizon Kinetics Holding Corporation (the "Company" or "HKHC") (OTC PINK:HKHC) reported financial results for its fourth quarter and year ended December 31, 2024.
The Company continued to grow revenues during the fourth quarter resulting from continued increases in AUM in its proprietary funds, separately managed accounts, ETFs and mutual funds. The increases in AUM across many of these platforms were largely driven by the increases in the market value of Texas Pacific Land Corporation ("TPL"), which increased 25% during the quarter and 111% for the year and Grayscale Bitcoin Trust ("GBTC"), which increased 47% during the quarter and 114% for the year.
The Company's revenue increases were partially offset by a variety of higher operating expenses, including higher commissions on the higher revenues and general and administrative costs related to the acquisition of Scott's Liquid Gold and various professional and legal fees.
The Company benefited from incentive fees of $51.7 million earned from proprietary funds during the year ended December 31, 2024, which were predominantly recorded during the fourth quarter. The economic benefit is reflected primarily in the attribution to redeemable noncontrolling interests in the consolidated statement of operations. Similarly, the Company benefited from its interests within the consolidated investment products of approximately $101.0 million for the year ended December 31, 2024 as a result of their unrealized gains of $840.7 million for the year ended December 31, 2024.
The Company also benefited from unrealized gains of $40.3 million and $16.4 million for the year and three months ended December 31, 2024, respectively, from its investment holdings as well as unrealized gains of $7.0 million and $4.2 million for the year and three months ended December 31, 2024, respectively, from its digital asset holdings.
In connection with the August 1, 2024 merger transaction, the Company converted from an LLC to a C-Corp for federal and state income tax purposes. As a result, the Company recognized a non-cash deferred income tax expense of $59.7 million related to the tax basis differences for certain assets, principally unrealized gains in various investments, digital assets and indefinite lived intangible assets.
On March 6, 2025, the Company issued a press release announcing that, on March 3, 2025, the Company's Board of Directors declared a cash dividend of $0.107 per share, payable on March 28, 2025, to shareholders of record as of the close of business on March 17, 2025.
Conference Call
Murray Stahl, Chairman and Chief Executive Officer, and Mark Herndon, Chief Financial Officer, will host a conference call on Wednesday, April 2, 2025, at 4:15 p.m. EDT. You may register for the conference call by clicking on the following link: https://attendee.gotowebinar.com/register/7489969312130245721
HORIZON KINETICS HOLDING CORPORATION
Consolidated Statements of Operations
(in thousands)
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| As Restated | As Restated | |||||||||||||||
| Revenue: | ||||||||||||||||
| Management and advisory fees | $ | 18,209 | $ | 10,532 | $ | 55,486 | $ | 46,845 | ||||||||
| Other income and fees | 995 | 33 | 1,695 | 418 | ||||||||||||
| Total revenue | 19,204 | 10,565 | 57,181 | 47,263 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Compensation, related employee benefits, and cost of goods sold | 18,280 | 6,028 | 38,579 | 26,851 | ||||||||||||
| Sales, distribution and marketing | 11,504 | 2,387 | 19,510 | 10,209 | ||||||||||||
| Depreciation and amortization | 505 | 460 | 1,919 | 1,828 | ||||||||||||
| General and administrative expenses | 2,950 | 2,818 | 10,383 | 8,493 | ||||||||||||
| Expenses of consolidated investment products | 668 | 464 | 2,319 | 1,664 | ||||||||||||
| Total operating expenses | 33,907 | 12,157 | 72,710 | 49,045 | ||||||||||||
| Operating income (loss) | (14,703 | ) | (1,592 | ) | (15,529 | ) | (1,782 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Equity earnings (losses), net | 2,354 | (816 | ) | 6,037 | (2,448 | ) | ||||||||||
| Interest and dividends | 453 | 357 | 1,714 | 826 | ||||||||||||
| Other income (expense) | (127 | ) | (695 | ) | (2,985 | ) | (669 | ) | ||||||||
| Investment and other income (losses) of consolidated investment products, net | 398,266 | 110,324 | 840,735 | 92,962 | ||||||||||||
| Interest and dividend income of consolidated investment products | 2,883 | 3,849 | 20,377 | 14,206 | ||||||||||||
| Unrealized gain on digital assets, net | 4,192 | - | 6,984 | - | ||||||||||||
| Realized gain on investments, net | 90 | (21 | ) | 432 | 1,388 | |||||||||||
| Unrealized gain (loss) on investments net | 16,386 | (4,638 | ) | 41,329 | (15,376 | ) | ||||||||||
| Total other income (expense), net | 424,497 | 108,360 | 914,623 | 90,889 | ||||||||||||
| Income before provision for income taxes | 409,794 | 106,768 | 899,094 | 89,107 | ||||||||||||
| Income tax (expense) benefit | (33,548 | ) | 829 | (104,283 | ) | 122 | ||||||||||
| Net income | 376,246 | 106,183 | 794,811 | 89,229 | ||||||||||||
| Less: net income attributable to redeemable noncontrolling interests | (300,486 | ) | (103,754 | ) | (702,339 | ) | (93,721 | ) | ||||||||
| Net income (loss) attributable to Horizon Kinetics Holding Corporation | $ | 75,760 | $ | 2,429 | $ | 92,472 | $ | (4,492 | ) | |||||||
| Basic and diluted net income (loss) per common shares: | ||||||||||||||||
| Net income (loss) | $ | 4.07 | $ | 0.14 | $ | 5.07 | $ | (0.25 | ) | |||||||
| Weighted average shares outstanding: | ||||||||||||||||
| Basic and diluted | 18,634 | 17,984 | 18,256 | 17,984 | ||||||||||||
HORIZON KINETICS HOLDING CORPORATION
Consolidated Statements of Financial Condition
(in thousands)
| December 31, | December 31, | |||||||
| 2024 | 2023 | |||||||
| As Restated | ||||||||
| Assets | ||||||||
| Cash and cash equivalents | $ | 14,446 | $ | 10,477 | ||||
| Fees receivable | 8,670 | 3,304 | ||||||
| Investments, at fair value | 91,435 | 37,620 | ||||||
| Assets of consolidated investment products | ||||||||
| Cash and cash equivalents | 44,306 | 59,117 | ||||||
| Investments, at fair value | 1,746,850 | 903,435 | ||||||
| Other assets | 19,247 | 19,903 | ||||||
| Other investments | 13,443 | 6,990 | ||||||
| Operating lease right-of-use assets | 5,105 | 5,651 | ||||||
| Property and equipment, net | 99 | 200 | ||||||
| Prepaid expenses and other assets | 2,352 | 1,882 | ||||||
| Due from affiliates | 27 | 2,660 | ||||||
| Digital assets | 13,240 | 1,829 | ||||||
| Intangible assets, net | 44,531 | 43,876 | ||||||
| Goodwill | 24,425 | 19,273 | ||||||
| Total assets | $ | 2,028,176 | $ | 1,116,217 | ||||
| Liabilities, Noncontrolling Interests, and Shareholders' Equity | ||||||||
| Liabilities: | ||||||||
| Accounts payable, accrued expenses and other | $ | 22,011 | $ | 3,839 | ||||
| Accrued third party distribution expenses | 6,522 | 1,022 | ||||||
| Deferred revenue | 222 | 70 | ||||||
| Liabilities of consolidated investment products | ||||||||
| Accounts payable and accrued expenses | 1,486 | 5,840 | ||||||
| Other liabilities | 2,793 | 160 | ||||||
| Deferred tax liability, net | 95,683 | 617 | ||||||
| Due to affiliates | 11,597 | 9,966 | ||||||
| Operating lease liability | 7,379 | 7,281 | ||||||
| Total liabilities | 147,693 | 28,795 | ||||||
| Commitments and contingencies | ||||||||
| Redeemable noncontrolling interests | 1,540,312 | 878,334 | ||||||
| Shareholders' equity | ||||||||
| Preferred stock, no par value, authorized 20,000 shares; no shares issued and outstanding | - | - | ||||||
| Common stock; $0.10 par value, authorized 50,000 shares; issued and outstanding 18,635 shares (2024) and 17,984 shares (2023), net of treasury stock; 1 and 0 shares at December 31, 2024 and December 31, 2023, respectively | 1,864 | 1,798 | ||||||
| Additional paid-in capital | 39,243 | - | ||||||
| Retained earnings | 299,064 | 207,290 | ||||||
| Total shareholders' equity | 340,171 | 209,088 | ||||||
| Total liabilities, noncontrolling interests, and shareholders' equity | $ | 2,028,176 | $ | 1,116,217 | ||||
Additional Information about our performance
As previously announced, the Company consolidates certain proprietary funds in order for the consolidated financial statements to conform with generally accepted accounting principles. As a result, the assets and liabilities of the applicable consolidated funds is presented on the Company's consolidated statements of financial condition. Additionally, an amount that represents the Company's clients' interests in these consolidated proprietary funds will be presented as redeemable noncontrolling interests on the Company's consolidated statements of financial condition. The investment income (losses), other income (losses) and the expenses of the consolidated investment products will be presented within the Company's consolidated statements of operations. Additionally, an amount that represents the net income attributable to redeemable noncontrolling interests as well as the net income (loss) attributable to Horizon Kinetics Holding Corporation will be presented on the Company's consolidated statement of operations.
Consolidated Investment Products ("CIPs") consist of certain private proprietary investment funds which are sponsored by the Company. The Company has no right to the CIPs' assets, other than its direct equity investments in them and investment management and other fees earned from them. The liabilities of the CIPs have no recourse to the Company's assets beyond the level of its direct investment, therefore the Company bears no other risks associated with the CIPs' liabilities.
As indicated in the additional information presented in the tables below there are several notable presentational differences as a result of the consolidation of the CIPs:
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Management and advisory fees, including incentive fees, from CIPs are eliminated from consolidated revenues. Accordingly, our presentation without the CIPs reflects an increased revenue growth to $113.2 million, a 122% increase from 2023, which is largely attributable to the incentive fees of $51.7 million from our proprietary funds.
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The equity in earnings of proprietary funds which results primarily from CIPs are eliminated from the consolidated presentation as that activity is included within the investment results of the CIPs. Accordingly, our presentation without the CIPs reflects an increased level of equity earnings that presents an increase in the value of our holdings within the CIPs. During 2024, this increased equity earnings is the result of unrealized gains due to fair value increases across several proprietary funds generally due to increases in TPL and GBTC.
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Stockholders' equity and net income attributable to Horizon Kinetics Holding Corporation are not impacted by the consolidation process.
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The Statement of Financial Condition without the consolidation of proprietary funds presents lower total assets as a result of excluding the total assets held by the CIPs as well as the associated redeemable noncontrolling interests, which represents our clients' interests in these funds. A portion of the total assets held by proprietary funds continues to relate to economic interests held by Horizon Kinetics Holding Corporation, which is reflected in Other Investments in the presentation below, which increased $124.9 million, or 120%, during 2024 primarily as a result of the performance of the CIPs.
HORIZON KINETICS HOLDING CORPORATION
Statements of Operations (Unaudited)
(in thousands)
| (without consolidation of proprietary funds) | ||||||||
| Year Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Revenue: | ||||||||
| Management and advisory fees | $ | 111,481 | $ | 50,563 | ||||
| Other income and fees | 1,695 | 418 | ||||||
| Total revenue | 113,176 | 50,981 | ||||||
| Operating expenses: | ||||||||
| Compensation, related employee benefits, and cost of goods sold | 38,579 | 26,851 | ||||||
| Sales, distribution and marketing | 19,510 | 10,209 | ||||||
| Depreciation and amortization | 1,919 | 1,828 | ||||||
| General and administrative expenses | 10,490 | 8,581 | ||||||
| Expenses of consolidated investment products | - | - | ||||||
| Total operating expenses | 70,498 | 47,469 | ||||||
| Operating income | 42,678 | 3,512 | ||||||
| Other income (expense): | ||||||||
| Equity in earnings of proprietary funds, net | 106,603 | 5,705 | ||||||
| Interest and dividends | 1,714 | 826 | ||||||
| Other income (expense) | (2,985 | ) | (669 | ) | ||||
| Investment and other income (losses) of consolidated investment products, net | - | - | ||||||
| Interest and dividend income of consolidated investment products | - | - | ||||||
| Unrealized (loss) gain on digital assets, net | 6,984 | - | ||||||
| Realized gain on investments, net | 432 | 1,388 | ||||||
| Unrealized gain (loss) on investments net | 41,329 | (15,376 | ) | |||||
| Total other income (expense), net | 154,077 | (8,126 | ) | |||||
| Income (loss) before provision for income taxes | 196,755 | (4,614 | ) | |||||
| Income tax (expense) benefit | (104,283 | ) | 122 | |||||
| Net income (loss) | 92,472 | (4,492 | ) | |||||
| Less: net income attributable to redeemable noncontrolling interests | - | - | ||||||
| Net income (loss) Attributable to Horizon Kinetics Holding Corporation | $ | 92,472 | $ | (4,492 | ) | |||
| Basic and diluted net income (loss) per common shares: | ||||||||
| Net income (loss) | $ | 5.07 | $ | (0.25 | ) | |||
| Weighted average shares outstanding: | ||||||||
| Basic and diluted | 18,256 | 17,984 | ||||||
| Year Ended December 31, 2024 | ||||||||||||||||
| Consolidated Company Entities | Consolidated Investment Products | Eliminations | Consolidated | |||||||||||||
| Revenue: | ||||||||||||||||
| Management and advisory fees | $ | 111,481 | $ | - | $ | (55,995 | ) | $ | 55,486 | |||||||
| Other income and fees | 1,695 | - | 1,695 | |||||||||||||
| Total revenue | 113,176 | - | (55,995 | ) | 57,181 | |||||||||||
| Operating expenses: | ||||||||||||||||
| Compensation, related employee benefits, and cost of goods sold | 38,579 | - | - | 38,579 | ||||||||||||
| Sales, distribution and marketing | 19,510 | - | - | 19,510 | ||||||||||||
| Depreciation and amortization | 1,919 | - | - | 1,919 | ||||||||||||
| General and administrative expenses | 10,490 | - | (107 | ) | 10,383 | |||||||||||
| Expenses of consolidated investment products | - | 10,215 | (7,896 | ) | 2,319 | |||||||||||
| Total operating expenses | 70,498 | 10,215 | (8,003 | ) | 72,710 | |||||||||||
| Operating income | 42,678 | (10,215 | ) | (47,992 | ) | (15,529 | ) | |||||||||
| Other income (expense): | ||||||||||||||||
| Equity in earnings of proprietary funds, net | 106,603 | - | (100,566 | ) | 6,037 | |||||||||||
| Interest and dividends | 1,714 | - | - | 1,714 | ||||||||||||
| Other income (expense) | (2,985 | ) | - | - | (2,985 | ) | ||||||||||
| Investment and other income (losses) of consolidated investment products, net | - | 840,735 | - | 840,735 | ||||||||||||
| Interest and dividend income of consolidated investment products | - | 20,377 | - | 20,377 | ||||||||||||
| Unrealized (loss) gain on digital assets, net | 6,984 | - | - | 6,984 | ||||||||||||
| Realized gain on investments, net | 432 | - | - | 432 | ||||||||||||
| Unrealized gain (loss) on investments net | 41,329 | - | - | 41,329 | ||||||||||||
| Total other income (expense), net | 154,077 | 861,112 | (100,566 | ) | 914,623 | |||||||||||
| Income (loss) before provision for income taxes | 196,755 | 850,897 | (148,558 | ) | 899,094 | |||||||||||
| Income tax (expense) benefit | (104,283 | ) | - | - | (104,283 | ) | ||||||||||
| Net income (loss) | $ | 92,472 | $ | 850,897 | $ | (148,558 | ) | $ | 794,811 | |||||||
| Less: net income attributable to redeemable noncontrolling interests | - | (762,695 | ) | 60,356 | (702,339 | ) | ||||||||||
| Net income (loss) attributable to Horizon Kinetics Holding Corporation | $ | 92,472 | $ | 88,202 | $ | (88,202 | ) | $ | 92,472 | |||||||
HORIZON KINETICS HOLDING CORPORATION
Statements of Financial Condition (Unaudited)
(in thousands)
| (without consolidation of proprietary funds) | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| Assets | ||||||||
| Cash and cash equivalents | $ | 14,446 | $ | 10,477 | ||||
| Fees receivable | 59,047 | 4,453 | ||||||
| Investments, at fair value | 91,447 | 37,620 | ||||||
| Assets of consolidated investment products | ||||||||
| Cash and cash equivalents | - | - | ||||||
| Investments, at fair value | - | - | ||||||
| Other assets | - | - | ||||||
| Other Investments | 228,871 | 103,962 | ||||||
| Operating lease right-of-use assets | 5,105 | 5,651 | ||||||
| Property and equipment, net | 99 | 200 | ||||||
| Prepaid expenses and other assets | 2,350 | 1,882 | ||||||
| Due from affiliates | 34 | 2,660 | ||||||
| Digital assets | 13,240 | 1,829 | ||||||
| Intangible assets, net | 44,531 | 43,876 | ||||||
| Goodwill | 24,425 | 19,273 | ||||||
| Total Assets | $ | 483,595 | $ | 231,883 | ||||
| Liabilities, Noncontrolling Interests, and Shareholders' Equity | ||||||||
| Liabilities: | ||||||||
| Accounts payable, accrued expenses and other | $ | 22,011 | $ | 3,839 | ||||
| Accrued third party distribution expenses | 6,522 | 1,022 | ||||||
| Deferred revenue | 222 | 70 | ||||||
| Liabilities of consolidated investment products | ||||||||
| Accounts payable and accrued expenses | - | - | ||||||
| Other liabilities | - | - | ||||||
| Deferred tax liability, net | 95,684 | 617 | ||||||
| Due to affiliates | 11,597 | 9,966 | ||||||
| Operating lease liability | 7,379 | 7,281 | ||||||
| Total Liabilities | 143,415 | 22,795 | ||||||
| Commitments and contingencies | ||||||||
| Redeemable Noncontrolling Interests | - | - | ||||||
| Shareholders' Equity | ||||||||
| Preferred stock, no par value, authorized 20,000 shares; no shares issued and outstanding | - | - | ||||||
| Common stock; $0.10 par value, authorized 50,000 shares; issued and outstanding 18,635 shares (2024) and 17,984 shares (2023), net of treasury stock; 1 and 0 shares at December 31, 2024 and December 31, 2023, respectively | 1,864 | 1,798 | ||||||
| Additional paid-in capital | 39,223 | - | ||||||
| Retained earnings | 299,093 | 207,290 | ||||||
| Total Shareholders' Equity | 340,180 | 209,088 | ||||||
| Total Liabilities, Noncontrolling Interests, and Shareholders' Equity | $ | 483,595 | $ | 231,883 | ||||
| December 31, 2024 | ||||||||||||||||
| Consolidated Company Entities | Consolidated Investment Products | Eliminations | Consolidated | |||||||||||||
| Assets | ||||||||||||||||
| Cash and cash equivalents | $ | 14,446 | $ | - | $ | - | $ | 14,446 | ||||||||
| Fees receivable | 59,047 | - | (50,377 | ) | 8,670 | |||||||||||
| Investments, at fair value | 91,435 | - | - | 91,435 | ||||||||||||
| Assets of consolidated investment products | - | - | - | - | ||||||||||||
| Cash and cash equivalents | - | 44,306 | - | 44,306 | ||||||||||||
| Investments, at fair value | - | 1,746,850 | - | 1,746,850 | ||||||||||||
| Other assets | - | 19,247 | - | 19,247 | ||||||||||||
| Other investments | 228,870 | - | (215,427 | ) | 13,443 | |||||||||||
| Digital assets | 13,240 | - | - | 13,240 | ||||||||||||
| Intangible assets, net | 44,531 | - | - | 44,531 | ||||||||||||
| Goodwill | 24,425 | - | - | 24,425 | ||||||||||||
| Other assets | 7,591 | - | (8 | ) | 7,583 | |||||||||||
| Total assets | $ | 483,585 | $ | 1,810,403 | $ | (265,812 | ) | $ | 2,028,176 | |||||||
| Liabilities, Noncontrolling Interests, and Shareholders' Equity | ||||||||||||||||
| Liabilities: | ||||||||||||||||
| Accounts payable, accrued expenses and other | $ | 22,011 | $ | - | $ | - | $ | 22,011 | ||||||||
| Accrued third party distribution expenses | 6,522 | - | - | 6,522 | ||||||||||||
| Deferred revenue | 222 | - | - | 222 | ||||||||||||
| Liabilities of consolidated investment products | - | - | - | - | ||||||||||||
| Accounts payable and accrued expenses | - | 1,494 | (8 | ) | 1,486 | |||||||||||
| Due to affiliates | - | 50,375 | (50,375 | ) | - | |||||||||||
| Other liabilities | - | 2,793 | - | 2,793 | ||||||||||||
| Deferred tax liability, net | 95,683 | - | - | 95,683 | ||||||||||||
| Due to affiliates | 11,597 | - | - | 11,597 | ||||||||||||
| Operating lease liability | 7,379 | - | - | 7,379 | ||||||||||||
| Total liabilities | 143,414 | 54,662 | (50,383 | ) | 147,693 | |||||||||||
| Commitments and contingencies | ||||||||||||||||
| Redeemable noncontrolling interests | - | 1,574,414 | (34,102 | ) | 1,540,312 | |||||||||||
| Equity interests | 340,171 | 181,327 | (181,327 | ) | 340,171 | |||||||||||
| Total liabilities, noncontrolling interests, and shareholders' equity | $ | 483,585 | $ | 1,810,403 | $ | (265,812 | ) | $ | 2,028,176 | |||||||
Non-GAAP Measures
In discussing financial results, the Company presented tables without the consolidation of certain proprietary funds which is not in accordance with Generally Accepted Accounting Principles (GAAP). We use this non-GAAP financial measure internally to make operating and strategic decisions, including evaluating our overall performance and as a factor in determining compensation for certain employees. We believe presenting this non-GAAP financial measure provides additional information to facilitate comparison of our historical operating costs and their trends, and provides additional transparency on how we evaluate our financial condition and results of operations. We also believe presenting this measure allows investors to view our financial condition and results of operations using the same measure that we use in evaluating our performance and trends.
Note Regarding Forward-Looking Statements
This news release may contain "forward-looking statements" within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "assumptions," "target," "guidance," "strategy," "outlook," "plans," "projection," "may," "will," "would," "expect," "intend," "estimate," "anticipate," "believe", "potential," or "continue" (or the negative or other derivatives of each of these terms) or similar terminology.
Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and the Company's subsequent Quarterly Reports on Form 10-Q and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent filings with the Securities and Exchange Commission.
About Horizon Kinetics Holding Corporation
Horizon Kinetics Holding Corporation (OTCM Pink:HKHC) primarily offers investment advisory services through its subsidiary Horizon Kinetics Asset Management LLC ("HKAM"), a registered investment adviser. HKAM provides independent proprietary research and investment advisory services for mainly long-only and alternative value-based investing strategies. The firm also obtained a portfolio of consumer products, which are marketed and distributed in the retail marketplace, as a result of its August 2024 merger with Scott's Liquid Gold-Inc. The firm's offices are located in New York City, White Plains, New York, and Summit, New Jersey. For more information, please visit http://www.hkholdingco.com.
Investor Relations Contact:
ir@hkholdingco.com
SOURCE: Horizon Kinetics Holding Corporation
View the original press release on ACCESS Newswire