Form 4: Horizon Kinetics Holding Corp. CEO and CIO, Murray Stahl, Reports Share Transactions

Murray Stahl, CEO and CIO of Horizon Kinetics Holding Corp., reports the acquisition of shares through a transaction on November 22, 2024, and clarifies beneficial ownership of various holdings.

Summary

• Murray Stahl, CEO and CIO of Horizon Kinetics Holding Corp., reported acquiring 8 shares of common stock at $38.75 each on November 22, 2024.
• He also reported acquiring 6 shares of common stock at $38.75 each on the same day.
• Mr. Stahl's total direct holdings after the transaction are 248,666 shares.
• He also has indirect ownership of 8,216,473 shares through Horizon Common Inc., 823,863 shares through his spouse, 6,900 shares through FRMO Corp., 5,810 shares through Kinetics Institutional Partners LP, 951 shares through Kinetics Partners LP, and shares through Horizon Kinetics Asset Management LLC.
• Many of the shares were received on August 1, 2024, in connection with the merger between Horizon Kinetics LLC and Scotts Liquid Gold-Inc. (HKHC).
• A significant portion of these shares are not available for trading.
• Mr. Stahl disclaims beneficial ownership over a large portion of the indirectly held shares, except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating neutral sentiment. The transactions are not large enough to significantly impact the stock price, and the disclaimers of beneficial ownership are standard practice.

Positives

• The reported transactions show continued investment by the CEO and CIO in the company's stock.

Negatives

• A significant portion of the shares held by Mr. Stahl are not available for trading, which could limit liquidity.

Risks

• The large amount of shares held indirectly and not available for trading could create uncertainty in the market.

Management Comments

• Mr. Stahl disclaims beneficial ownership over a large portion of the indirectly held shares, except to the extent of his pecuniary interest.

Industry Context

This filing is a routine disclosure of insider transactions, which is common in the financial industry. It provides transparency into the holdings of key executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• The level of detail provided in this filing is consistent with SEC requirements for reporting beneficial ownership.
• The disclaimers of beneficial ownership are also standard practice when an individual has control over shares but not full ownership.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of the CEO and CIO.
• The information may influence investor perception of the company.

Key Dates

Keywords

Horizon Kinetics Holding Corp, HKHC, Murray Stahl, insider trading, beneficial ownership, share acquisition, Form 4, merger