The Board of Directors announced the passing of Murray Stahl, Co-Founder, Chairman, CEO, and CIO of Horizon Kinetics Asset Management (HKAM) and Co-Portfolio Manager of the Fund, who died on April 7, 2026. Peter Doyle, Co-Founder and Co-CEO of HKAM, has been appointed as the new President, CEO, and CFO of the Fund. James Davolos has been added to the Fund's Portfolio Management team, bringing experience from his role as Co-Portfolio Manager for the Inflation Beneficiaries ETF (INFL).