Horizon Kinetics Reports Strong Q1 2025 Financial Results

Horizon Kinetics Holding Corporation has announced its first-quarter results for 2025, highlighting significant growth. Management and advisory fee revenues reached $18.9 million, marking a 58% increase over Q1 2024. Net income attributable to the company was $22.8 million, or $1.23 per share.

Assets under management rose to $10.8 billion, a 54% increase from the previous year. The Board declared a dividend of $0.056 per share. These improvements were largely driven by a rise in the market value of Texas Pacific Land Corporation, offset partially by a decline in Grayscale Bitcoin Trust.

Despite increased revenue, higher operating expenses including commissions and distribution costs affected net income. The company's merger with Scott's Liquid Gold Inc. contributed an additional $1.2 million in operating expenses. Investors benefited from substantial investment income, and notable gains from equity interests offset some digital asset losses.