Form 4: Horizon Kinetics CEO Boosts Stake in Company

Horizon Kinetics Holding Corp's CEO and CIO, Murray Stahl, reported acquiring additional shares of common stock at $27.75 per share.

Summary

• Murray Stahl, CEO and CIO of Horizon Kinetics Holding Corp, purchased common stock.
• The transactions occurred on December 5, 2025.
• Stahl directly acquired 12 shares at $27.75 per share.
• Stahl indirectly acquired 6 shares through Horizon Common Inc. at $27.75 per share.
• Stahl indirectly acquired 4 shares through Horizon Kinetics Hard Assets, LLC at $27.75 per share.
• Following these transactions, Stahl directly owns 249,102 shares.
• Stahl indirectly owns 8,216,724 shares through Horizon Common Inc., 79 shares through Horizon Kinetics Hard Assets, LLC, 5 shares through his spouse, 823,923 shares through FRMO Corp., 6,900 shares through Kinetics Institutional Partners LP, 5,810 shares through Kinetics Partners LP, and 952 shares through Horizon Kinetics Asset Management LLC.
• Stahl disclaims beneficial ownership over certain indirect holdings except to the extent of his pecuniary interest.
• FRMO Corp.'s holding includes shares owned by Fromex Equity Corp, a wholly-owned subsidiary of FRMO Corp.

Sentiment

Score: 7

Explanation: The insider purchase by the CEO and CIO indicates confidence in the company's prospects, which is a positive signal for investors.

Positives

• CEO and CIO Murray Stahl increased his direct and indirect beneficial ownership in Horizon Kinetics Holding Corp.
• Insider purchases often signal management's confidence in the company's future prospects and valuation.
• The purchase price of $27.75 per share indicates a specific valuation point at which the insider found the stock attractive.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Murray Stahl's indirect ownership through various entities (Horizon Common Inc., Horizon Kinetics Hard Assets, LLC, FRMO Corp., Kinetics Institutional Partners LP, Kinetics Partners LP, Horizon Kinetics Asset Management LLC) represents holdings where he may have influence or control, and he disclaims beneficial ownership except for his pecuniary interest.
• FRMO Corp.'s holding includes shares owned by Fromex Equity Corp, a wholly-owned subsidiary of FRMO Corp.

Stakeholder Impact

• Shareholders may view the insider purchase as a positive signal, potentially increasing confidence in the stock.
• Management and employees could reinforce a sense of stability and belief in the company's direction.

Key Dates

Recommendation

The purchase of common stock by the CEO and CIO, Murray Stahl, signals strong insider confidence in Horizon Kinetics Holding Corp's current valuation and future prospects. Such insider buying often precedes positive company developments or reflects a belief that the stock is undervalued, making it a compelling signal for potential investors.

Keywords

Horizon Kinetics Holding Corp, HKHC, Murray Stahl, Insider Trading, Stock Purchase, Beneficial Ownership, Form 4, CEO, CIO, Equity Acquisition