Business
Horizon Kinetics Holding Corporation Reports Fourth Quarter and Annual Results
Annual and Fourth Quarter 2024 Highlights: Revenues of $57.2 million for the year ended December 31, 2024, an increase of 21.0% Revenues of $19.2 million for the fourth quarter of 2024, an increase of 81.8% Net income attributable to Horizon Kinetics ...
About this update from Horizon Kinetics Holding Corporation
[{"type":"text","content":"Annual and Fourth Quarter 2024 Highlights:","length":42,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenues of $57.2 million for the year ended December 31, 2024, an increase of 21.0%","length":84,"tagName":"p"}]},{"val":[{"type":"text","content":"Revenues of $19.2 million for the fourth quarter of 2024, an increase of 81.8%","length":78,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income attributable to Horizon Kinetics Holding Corporation of $75.8 million and $92.5 million, or $4.07 and $5.07 per common share for the three months and year ended December 31, 2024, respectively","length":203,"tagName":"p"}]},{"val":[{"type":"text","content":"Assets under management ("AUM") grew to $9.8 billion as of December 31, 2024, an increase of 18% for the fourth quarter and 52% for the year ended December 31, 2024","length":174,"tagName":"p"}]},{"val":[{"type":"text","content":"Board of Directors declares a $0.107 per share dividend","length":55,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":594,"olType":false},{"type":"text","content":"NEW YORK, NY / ACCESS Newswire / March 26, 2025 / Horizon Kinetics Holding Corporation (the "Company" or "HKHC") (OTC PINK:HKHC) reported financial results for its fourth quarter and year ended December 31, 2024.","length":232,"tagName":"p"},{"type":"text","content":"The Company continued to grow revenues during the fourth quarter resulting from continued increases in AUM in its proprietary funds, separately managed accounts, ETFs and mutual funds. The increases in AUM across many of these platforms were largely driven by the increases in the market value of Texas Pacific Land Corporation ("TPL"), which increased 25% during the quarter and 111% for the year and Grayscale Bitcoin Trust ("GBTC"), which increased 47% during the quarter and 114% for the year.","length":517,"tagName":"p"},{"type":"text","content":"The Company's revenue increases were partially offset by a variety of higher operating expenses, including higher commissions on the higher revenues and general and administrative costs related to the acquisition of Scott's Liquid Gold and various professional and legal fees.","length":284,"tagName":"p"},{"type":"text","content":"The Company benefited from incentive fees of $51.7 million ear...