Horizon Kinetics Holding Corp Declares $0.121 Quarterly Dividend
Horizon Kinetics Holding Corporation, an asset management firm, announced a $0.121 per share cash dividend payable March 31. The company reported $72.8 million in revenue for 2025, up 31% from the prior year.
Horizon Kinetics Holding Corporation (OTCQX: HKHC), an asset management firm, declared a quarterly cash dividend of $0.121 per share on March 11, 2026. The dividend will be paid March 31 to shareholders of record as of March 23. Read more dividend announcements.
The dividend was announced alongside the company's fourth quarter and full-year 2025 financial results, which showed revenue growth driven by its mutual fund and exchange-traded fund businesses.
| Dividend Details | |
|---|---|
| Amount | $0.121 per share |
| Record Date | March 23, 2026 |
| Ex-Dividend Date | Not specified |
| Payment Date | March 31, 2026 |
| Frequency | Quarterly |
Revenue Growth Driven by Fund Performance
Horizon Kinetics reported revenues of $72.8 million for the year ended December 31, 2025, an increase of $17.0 million or 31% compared to the prior year. The growth came primarily from increased management fees at the company's mutual funds, which grew revenue by 42%, and its ETFs, which expanded 56%.
The mutual fund fee growth stemmed largely from higher average assets under management at the Paradigm Fund following 2024 market appreciation in two key holdings: Texas Pacific Land Corporation and Grayscale Bitcoin Trust. The company's mutual funds also benefited from nearly $100 million in net inflows to the Market Opportunity Fund and Small Cap Fund.
ETF management fee growth was driven by higher average assets under management in 2025, led by the Inflation Beneficiaries ETF, which saw $89 million in net inflows and 18% net asset value performance during the year.
Assets Under Management and Operating Results
The company reported assets under management of $9.6 billion as of December 31, 2025. Operating income for the advisor-only segment, without consolidation of investment products, totaled $21.4 million for the year.
Net income attributable to Horizon Kinetics Holding Corporation was $5.1 million for the year ended December 31, 2025. Operating expenses decreased in both the fourth quarter and full year of 2025, primarily due to the absence of commissions and other costs related to 2024 incentive fees.
During 2024, the company earned $51.7 million in incentive fees from private funds, driven largely by increases in Texas Pacific Land Corporation and Grayscale Bitcoin Trust. In 2025, both holdings declined in value and incentive fees were generally not achieved at the company's private funds.
Investment Performance Impact
Horizon Kinetics experienced unrealized losses on investments of $15.6 million for the year ended December 31, 2025, compared to $41.3 million in unrealized gains during 2024. The shift was primarily driven by a 22% decline in the fair value of Texas Pacific Land Corporation during 2025, following 111% appreciation in 2024.
The company reported $22.6 million in unearned incentive fees related to certain private funds holding shares of Miami International Holdings, which completed an initial public offering in 2025. The incentive fees remain unearned while the Miami International Holdings shares are restricted from sale.