Mutual Fund Management Fees was Horizon Kinetics Holding’s largest product and service line in fiscal 2025, bringing in $36.66M of $72.85M (50%).
| Product and Service | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Mutual Fund Management Fees | $20.81M | $25.81M | $36.66M |
| Separately Managed Account Management Fees | $16.50M | $19.85M | $22.15M |
| Etf Management Fees | $9.04M | $7.18M | $11.19M |
| Private Funds & Other | — | $2.65M | $2.40M |
| Proprietary Funds & Other | $496.00K | — | — |
| Other Income & Fees | $418.00K | $322.00K | $458.00K |
| Total | $47.26M | $55.81M | $72.85M |
Horizon Kinetics Holding brought in $72.85M from its five product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 30.5% from $55.81M in fiscal 2024. Mutual Fund Management Fees was the largest at $36.66M (50.3%), ahead of Separately Managed Account Management Fees at $22.15M (30.4%) and Etf Management Fees at $11.19M (15.4%). The other two lines brought in $2.85M combined.
Compared with fiscal 2024, Etf Management Fees grew fastest, up 55.8% to $11.19M, while Private Funds & Other fell the most, down 9.5% to $2.40M.
Horizon Kinetics Holding began breaking out Private Funds & Other in fiscal 2024, when it brought in $2.65M. Horizon Kinetics Holding stopped reporting Proprietary Funds & Other as a separate line after fiscal 2023, when it brought in $496.00K.
Asset Management was Horizon Kinetics Holding’s largest segment in fiscal 2025, bringing in $80.42M of $72.85M (110%).
| Segment | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Management | $50.56M | $111.48M | $80.42M | |||||||||
| Personal Care Products | — | — | — | |||||||||
| Skin & Hair Care Products | — | — | — | |||||||||
| Health & Beauty Care Products | — | — | — | |||||||||
| Household Products | — | — | — | |||||||||
| Eliminations | — | — | -$7.57M | |||||||||
| Reconciling Amounts | -$3.30M | -$55.67M | — | |||||||||
| Total | $47.26M | $55.81M | $72.85M |
Horizon Kinetics Holding brought in $72.85M from its two segments in fiscal 2025, the year ended December 31, 2025. Horizon Kinetics Holding regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $55.81M. Asset Management was the largest at $80.42M (110.4%).
Horizon Kinetics Holding began breaking out Eliminations in fiscal 2025, when it brought in -$7.57M. The total is net of Eliminations, which took $7.57M off revenue in fiscal 2025.
Consolidated Company Entities was Horizon Kinetics Holding’s largest revenue line in fiscal 2025, bringing in $80.42M of $72.85M (110%).
| Consolidated Entities | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Consolidated Company Entities | $50.98M | $111.80M | $80.42M |
| Eliminations | -$3.72M | -$56.00M | -$7.57M |
| Total | $47.26M | $55.81M | $72.85M |
Horizon Kinetics Holding brought in $72.85M from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 30.5% from $55.81M in fiscal 2024. Consolidated Company Entities was the largest at $80.42M (110.4%).
From fiscal 2023 to 2025, combined revenue from these revenue lines grew from $47.26M to $72.85M, a compound annual growth rate of 24.1%. Consolidated Company Entities' share of the total rose from 107.9% to 110.4%.
The total is net of Eliminations, which took $7.57M off revenue in fiscal 2025.
Horizon Kinetics Holding (HKHC) reports its revenue by product and service, by segment and by consolidated entities. In fiscal 2025, Mutual Fund Management Fees was its largest product and service line, bringing in $36.66M (50.3% of the total), followed by Separately Managed Account Management Fees at $22.15M (30.4%).
Mutual Fund Management Fees was Horizon Kinetics Holding's largest product and service line in fiscal 2025, bringing in $36.66M, or 50.3% of the $72.85M total across its five product and service lines.
Asset Management was Horizon Kinetics Holding's largest segment in fiscal 2025, bringing in $80.42M, or 110.4% of the $72.85M total across its two segments.
Consolidated Company Entities was Horizon Kinetics Holding's largest revenue line in fiscal 2025, bringing in $80.42M, or 110.4% of the $72.85M total across its two revenue lines.
Among Horizon Kinetics Holding's product and service lines that make up at least 2% of revenue, Etf Management Fees grew fastest in fiscal 2025, up 55.8% from $7.18M to $11.19M.
Every figure comes from Horizon Kinetics Holding's annual financial filings, as reported. Each line keeps the name Horizon Kinetics Holding gives it, and years follow its fiscal calendar.
Horizon Kinetics Holding's revenue by product and service goes back to fiscal 2023, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.