Horizon Kinetics Reports Strong Third Quarter Growth in 2024

Horizon Kinetics Holding Corporation announced impressive financial results for the third quarter of 2024, ending September 30. The company reported a 20.6% increase in revenues, reaching $15.4 million. For the nine months, revenues rose by 7.6% to $42.4 million. Assets under management (AUM) grew to $8.3 billion.

A remarkable rise in AUM stemmed partly from a 21% increase in Texas Pacific Land Corporation's market value in the quarter. However, higher operating expenses, including administrative costs and acquisition fees related to Scott's Liquid Gold, partially offset revenue gains.

Additionally, Horizon Kinetics benefited from $20.3 million in unrealized gains from proprietary fund holdings and $11.3 million from investment securities. The Board declared a $0.053 per share dividend, payable on December 16.