Horizon Kinetics Holding Corporation (OTCQX: HKHC) has reported its financial results for the second quarter of 2026, revealing a net loss of $18.4 million, or $0.99 per common share. This figure marks a notable increase in losses compared to the same period last year, during which the company recorded a net loss of $10.5 million.
For the three months ending June 30, 2026, the company achieved total revenues of $19.036 million, reflecting a modest growth of 0.7% compared to $18.898 million in Q2 2025. The revenue growth was primarily propelled by the company’s Inflation Beneficiaries ETF and a significant rise in management and advisory fee revenues from separately managed accounts (SMAs), which increased by 8.6%.
Operating income fell to $3.0 million (GAAP) and $4.9 million (advisor-only presentation) during the quarter. Operating expenses increased by 5.4% to $16.071 million, primarily due to higher compensation costs associated with additional personnel and new office leases.
As of June 30, 2026, Horizon Kinetics reported assets under management (AUM) of $10.8 billion, which is a 12.1% increase from the previous year. This rise in AUM is largely attributed to a significant increase in the market value of Texas Pacific Land Corporation (TPL), which enjoyed a year-to-date boost of 52%. However, the company has been adversely affected by a 33% decline in the value of certain bitcoin-related holdings such as Grayscale Bitcoin Trust.
The company experienced net outflows during the year, spurred by redemptions linked to private funds holding Miami International Holdings, which was expected following the lifting of IPO restrictions in 2025. Additionally, mutual fund revenues plummeted by 17%, counterbalancing growth in other investment areas.
On August 12, 2026, Horizon Kinetics' Board of Directors declared a cash dividend of $0.13 per share, set to be distributed on September 10, 2026, to shareholders on record as of August 26, 2026. This move reflects the company’s commitment to returning value to its shareholders.
Horizon Kinetics will host a conference call on August 18, 2026, at 4:15 PM EDT, where Co-CEOs Peter Doyle and Steve Bregman, along with CFO Mark Herndon, will discuss the company's results and performance.
Horizon Kinetics Holding Corporation reported total revenues of $19.036 million for the second quarter of 2026, which is an increase of 0.7% compared to the same period in 2025. This increase was primarily attributed to growth from their Inflation Beneficiaries ETF and separately managed accounts (SMAs), which saw a revenue increase of 8.6%.
For the three months ended June 30, 2026, Horizon Kinetics reported a net loss attributable to the company of $18.4 million, equating to $0.99 per common share. This compares to a loss of $10.5 million in the same quarter of 2025, indicating a significant increase in losses year-on-year.
The operating income for Horizon Kinetics in the second quarter of 2026 was reported at $3.0 million according to GAAP presentation, and $4.9 million in the advisor-only presentation. This reflects operational consistency and benefitted from an increase in the number of new accounts, which contributed positively to management and advisory fee revenues.
As of June 30, 2026, Horizon Kinetics Holding Corporation reported assets under management (AUM) of $10.8 billion, which represents a 12.1% increase from December 31, 2025. This increase was primarily due to the sharp rise in market value of investments like Texas Pacific Land Corporation.
In the second quarter of 2026, Horizon Kinetics experienced a 17% decrease in revenues from its mutual funds, which offset the growth seen in other areas like ETFs and separately managed accounts. This decline highlights the challenges present in the mutual fund segment.
The Board of Directors of Horizon Kinetics Holding Corporation declared a cash dividend of $0.13 per share, which is scheduled to be paid on September 10, 2026, to shareholders of record as of the close of business on August 26, 2026. This declaration reflects the company's approach to return value to its shareholders.
Horizon Kinetics reported a significant impact from bitcoin-related holdings, particularly highlighting a 33% decrease in the value of Grayscale Bitcoin Trust. This decline contributed to the overall net loss for the Company and was noted as a factor that partially offset gains in other investment areas.
Investors seeking further information about Horizon Kinetics Holding Corporation are encouraged to visit their website at http://www.hkholdingco.com or contact their investor relations team via email at [email protected].