Form 4: CEO Murray Stahl Boosts Stake in Horizon Kinetics Holding Corp

Horizon Kinetics Holding Corp's CEO and CIO, Murray Stahl, reported multiple purchases of company common stock, increasing his direct and indirect beneficial ownership.

Summary

• Murray Stahl, CEO, CIO, Director, and 10% owner of Horizon Kinetics Holding Corp (HKHC), reported multiple purchases of the company's common stock.
• All reported transactions occurred on August 27, 2025, at a price of $38 per share.
• Mr. Stahl directly acquired 8 shares, increasing his direct beneficial ownership to 248,905 shares.
• He also indirectly acquired shares through various entities: 6 shares via Horizon Common Inc., 5 shares via FRMO Corp., 2 shares via Horizon Kinetics Hard Assets, LLC, 5 shares via his spouse, 6,900 shares via Kinetics Institutional Partners LP, 5,810 shares via Kinetics Partners LP, and 952 shares via Horizon Kinetics Asset Management LLC.
• Following these transactions, his total indirect beneficial ownership includes 8,216,597 shares via Horizon Common Inc., 823,883 shares via FRMO Corp., 7 shares via Horizon Kinetics Hard Assets, LLC, 5 shares via his spouse, 6,900 shares via Kinetics Institutional Partners LP, 5,810 shares via Kinetics Partners LP, and 952 shares via Horizon Kinetics Asset Management LLC.
• Mr. Stahl disclaims beneficial ownership over portions of shares held by Horizon Common Inc. and FRMO Corp., and generally disclaims beneficial ownership except to the extent of his pecuniary interest for other indirect holdings.

Sentiment

Score: 7

Explanation: The CEO and CIO's decision to increase his stake, both directly and indirectly, suggests strong confidence in the company's prospects and valuation at the current share price.

Positives

• CEO and CIO Murray Stahl increased his direct and indirect holdings in Horizon Kinetics Holding Corp, signaling confidence in the company's future prospects.
• The purchases were made at a consistent price of $38 per share, indicating a clear valuation point for the insider.

Future Outlook

No forward-looking statements or guidance were provided in this filing.

Industry Context

This filing details an individual insider's stock transactions and does not provide information on broader industry trends or competitive landscape.

Related Party Transactions

• Mr. Stahl's indirect beneficial ownership includes shares held by Horizon Common Inc., FRMO Corp. (including its wholly-owned subsidiary Fromex Equity Corp), Horizon Kinetics Hard Assets, LLC, Kinetics Institutional Partners LP, Kinetics Partners LP, and Horizon Kinetics Asset Management LLC, over which he exercises discretion or has a pecuniary interest.

Stakeholder Impact

• Shareholders may view the insider buying as a positive signal, potentially increasing confidence in the company's valuation and future performance.

Key Dates

Recommendation

The reported insider purchases by CEO and CIO Murray Stahl indicate strong management confidence in Horizon Kinetics Holding Corp's current valuation and future prospects. While this is a positive signal, a comprehensive investment decision would require further analysis of the company's financial performance, strategic initiatives, and broader market conditions beyond the scope of this Form 4 filing.

Keywords

Insider trading, Form 4, HKHC, Horizon Kinetics, Murray Stahl, Stock purchase, Beneficial ownership, CEO, CIO, Director, 10% owner