Horizon Kinetics (HKHC) CEO and affiliates report small open-market buys

Rhea-AI Filing Summary

Horizon Kinetics Holding Corp insider Murray Stahl filed an amended Form 4 reporting small open-market purchases of HKHC common stock. On March 20, 2026, he bought 10 shares directly and entities associated with him bought 25 and 18 shares, all at $34.60 per share, totaling 53 shares.

The amendment also corrects previously overstated beneficial ownership figures. After these trades, reported holdings include 249,204 shares directly and large indirect positions such as 8,216,801 shares through Horizon Common Inc., 823,923 shares through FRMO Corp., and additional smaller stakes via several affiliated entities and his spouse. Footnotes state Stahl exercises investment discretion over certain entity-held shares and disclaims beneficial ownership beyond his pecuniary interest.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

STAHL MURRAY

(Last) (First) (Middle)

470 PARK AVENUE SOUTH

8TH FLOOR SOUTH

(Street)

NEW YORK NEW YORK 10016

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Horizon Kinetics Holding Corp [ HKHC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and CIO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
03/24/2026

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/20/2026		P		10	A	$34.6	249,204(1)	D
Common Stock	03/20/2026		P		25	A	$34.6	8,216,801(2)	I	Horizon Common Inc.
Common Stock	03/20/2026		P		18	A	$34.6	135(2)	I	Horizon Kinetics Hard Assets, LLC
Common Stock								5	I	Spouse
Common Stock								823,923(2)(3)	I	FRMO Corp.
Common Stock								6,900(2)	I	Kinetics Institutional Partners LP
Common Stock								5,810(2)	I	Kinetics Partners LP
Common Stock								952(2)	I	Horizon Kinetics Asset Management LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

STAHL MURRAY

(Last) (First) (Middle)

470 PARK AVENUE SOUTH

8TH FLOOR SOUTH

(Street)

NEW YORK NEW YORK 10016

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and CIO

1. Name and Address of Reporting Person^*

Horizon Common Inc

(Last) (First) (Middle)

470 PARK AVENUE SOUTH

8TH FLOOR SOUTH

(Street)

NEW YORK NEW YORK 10016

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The number of securities beneficially owned following the reported transaction was previously overstated. This amendment corrects the ownership amount to reflect the accurate number of securities beneficially owned after the transaction.

2. Mr. Stahl serves as the Chief Executive Officer and Chief Investment Strategist for Horizon Kinetics Asset Management LLC, a wholly owned subsidiary of Horizon Kinetics Holding Corporation (HKHC), and also serves as the Chief Executive Officer of Horizon Common, Inc. (HCI), a large shareholder of HKHC. Mr. Stahl exercises discretion over shares of the Issuer held by HKHC and HCI and disclaims beneficial ownership except to the extent of his pecuniary interest.

3. Mr. Stahl serves as the Chief Executive Officer for FRMO Corp. (FRMO) and exercises discretion over shares of the Issuer. He disclaims beneficial ownership except to the extent of his pecuniary interest. The reported ownership includes shares held by Fromex Corp., a wholly owned subsidiary of FRMO.

	/s/ Jay Kesslen, attorney-in-fact	03/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions were reported for HKHC in this amended Form 4?

The amended Form 4 shows 53 HKHC common shares bought on March 20, 2026. Murray Stahl acquired 10 shares directly, while Horizon Common Inc. bought 25 shares and Horizon Kinetics Hard Assets LLC bought 18 shares, all at $34.60 per share.

Why did Horizon Kinetics file an amended Form 4 for HKHC?

The amendment was filed to correct overstated beneficial ownership previously reported. It states that earlier figures for securities beneficially owned after the transaction were inaccurate and adjusts them to reflect the accurate number of HKHC shares held following the March 20, 2026 trades.

How many HKHC shares does Murray Stahl hold directly after the reported trades?

Following the March 20, 2026 transactions, Murray Stahl is reported as directly holding 249,204 HKHC common shares. This figure reflects his personal position only, separate from the much larger indirect holdings reported through various affiliated entities described in the filing.

What indirect HKHC holdings are associated with Murray Stahl and his entities?

Indirect positions include 8,216,801 shares via Horizon Common Inc., 823,923 shares via FRMO Corp., and additional stakes through Kinetics Institutional Partners LP, Kinetics Partners LP, Horizon Kinetics Asset Management LLC, and his spouse, each reported with specific share counts in the filing.

How does Murray Stahl describe his beneficial ownership of entity-held HKHC shares?

Footnotes explain that Stahl exercises investment discretion over HKHC shares held by entities like Horizon Common Inc., FRMO Corp., and related subsidiaries. He disclaims beneficial ownership of these shares except to the extent of his pecuniary interest in those entities.

What price was paid for the HKHC shares bought on March 20, 2026?

All reported purchases on March 20, 2026 were open-market buys at $34.60 per HKHC share. This price applied to the 10 shares bought directly by Murray Stahl, the 25 shares bought by Horizon Common Inc., and the 18 shares bought by Horizon Kinetics Hard Assets LLC.