Horizon Kinetics Q2 net loss $18.4M, declares $0.13 dividend

Horizon Kinetics Holding Corp

Q2 net loss attributable to HKHC of $18.4M ($0.99/share) vs $10.5M loss a year ago; six-month net income $54.2M ($2.91/share).
Management/advisory fees flat at $18.8M; ETF revenue up 30%, SMA up 8.6%, mutual fund revenue down 17%.
AUM $10.8B, up 12.1% YTD, driven by TPL +52% partially offset by Grayscale Bitcoin Trust -33%.
Board declares $0.13/share dividend payable Sept 10, 2026 to holders of record Aug 26, 2026.
Operating income $3.0M GAAP, $4.9M advisor-only; expenses up 5.4% on compensation and new office leases.

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