SCHEDULE: Horizon Kinetics Amends SEC Filing, Holds 7.8% Stake

Horizon Kinetics Asset Management LLC has filed an amendment to its Schedule 13D, reporting beneficial ownership of 7,400,316 shares, representing 7.8% of Miami International Holdings, Inc.'s common stock.

Summary

• Horizon Kinetics Asset Management LLC (HKAM), a subsidiary of Horizon Kinetics Holding Corporation (HKHC), has filed Amendment No. 4 to its Schedule 13D regarding its holdings in Miami International Holdings, Inc.
• As of May 19, 2026, HKAM beneficially owns 7,400,316 shares of common stock, which constitutes 7.8% of the outstanding shares.
• HKAM acquired these securities for investment purposes and may regularly review its equity interest, potentially acquiring additional shares or other securities.
• While there is no present intention to dispose of all shares, HKAM may sell shares from time to time for various reasons, including client requests or regulatory limitations.
• On May 19, 2026, HKAM distributed 4,084,261 shares in-kind to the beneficial owners of its Managed Accounts.
• HKAM has sole voting power and sole dispositive power over the 7,400,316 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, primarily an update on ownership and transaction activity without significant new strategic information or performance indicators.

Positives

• Horizon Kinetics maintains a significant stake (7.8%) in Miami International Holdings, Inc., indicating continued investment interest.
• The company has sole voting and dispositive power over its holdings, allowing for direct influence.
• The filing details a history of consistent buying activity over the past 60 days, suggesting a belief in the company's value.

Negatives

• The filing indicates a potential for future sales of shares, which could put downward pressure on the stock price.
• The distribution of 4,084,261 shares in-kind on May 19, 2026, suggests a reduction in direct holdings by HKAM, though the beneficial owners of the Managed Accounts now hold these shares.

Risks

• HKAM may sell shares from time to time for reasons including client requests, regulatory or investment limitations.
• Future acquisitions or dispositions of shares by HKAM could impact the market price of the Issuer's common stock.

Future Outlook

Horizon Kinetics Asset Management LLC intends to regularly review its equity interest in the Issuer and may, from time to time, acquire additional shares or other securities. While there is no present intention to dispose of all or any portion of the shares, sales may occur.

Management Comments

• HKAM acquired the securities reported herein on behalf of the Managed Accounts for investment purposes.
• In the ordinary course of its business, HKAM intends to regularly review its equity interest in the Issuer and may, from time to time, acquire additional shares or other securities of the Issuer.
• While HKAM has no present intention to dispose of all or any portion of the shares beneficially owned by Managed Accounts, it may sell shares from time to time for a number of reasons, not limited to client requests, regulatory or investment limitations or other reasons.
• Any such sales of securities of the Issuer may be in the open market, privately negotiated transactions or otherwise.
• On May 19, 2026, HKAM distributed 4,084,261 shares in-kind on a pro rata basis without consideration to the beneficial owners of the Managed Accounts in response to client requests.
• Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission that HKAM is the beneficial owner of the common stock referred to herein for purposes of Sections 13(d) and or 16 of the Securities Exchange Act of 1934, or for any other purpose, and such beneficial ownership is expressly disclaimed, except to the extent of its pecuniary interest therein.

Industry Context

StockSavvy.ai notes that Schedule 13D filings are crucial for tracking significant ownership changes and potential activist investor activity. Horizon Kinetics' consistent buying and subsequent distribution of shares highlight active portfolio management within the financial services sector.

Stakeholder Impact

• Shareholders may be impacted by potential future sales of shares by Horizon Kinetics, which could affect stock price.
• Beneficial owners of Managed Accounts now directly hold the distributed shares, altering their direct investment exposure.

Next Steps

• HKAM will continue to regularly review its equity interest in the Issuer.
• HKAM may acquire additional shares or other securities of the Issuer.
• HKAM may sell shares from time to time.

Key Dates

Keywords

Schedule 13D, Horizon Kinetics, Miami International Holdings, beneficial ownership, common stock, investment, SEC filing, asset management