# Horizon Kinetics Asset Management LLC

> Horizon Kinetics Asset Management LLC is an SEC-registered investment advisory firm in New York, NY, registered since 1994, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 24, 2026.

- CRD: 106096
- Filed as: HORIZON KINETICS ASSET MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: September 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106096
- AdvisorCensus page: https://advisorcensus.com/firm/horizon-kinetics-asset-management-llc-new-york-ny-106096

## Quick answers

**How is Horizon Kinetics Asset Management LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Horizon Kinetics Asset Management LLC reports these compensation arrangements: a percentage of assets under its management; subscription fees (for a newsletter or periodical); fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Horizon Kinetics Asset Management LLC located?**
Horizon Kinetics Asset Management LLC's principal office is in New York, NY, according to its Form ADV; the October 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Horizon Kinetics Asset Management LLC registered with the SEC or a state?**
Horizon Kinetics Asset Management LLC is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 106096.

**How much does Horizon Kinetics Asset Management LLC manage?**
Horizon Kinetics Asset Management LLC reports $9,614,045,104 in regulatory assets under management in its Form ADV filing dated September 24, 2026 (98% discretionary).

**How have Horizon Kinetics Asset Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Horizon Kinetics Asset Management LLC: Regulatory assets under management: $4,888,391,632 in the October 2021 data and $9,614,045,104 in the October 2026 data, up 97%. Total employees: 77 in October 2021 and 80 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Horizon Kinetics Asset Management LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (1,994); corporations or other businesses not listed above (150); pooled investment vehicles (other than investment companies and business development companies) (33).

**Which custodians does Horizon Kinetics Asset Management LLC use?**
Horizon Kinetics Asset Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Horizon Kinetics Asset Management LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106096

**What changed in Horizon Kinetics Asset Management LLC's recent Form ADV filings?**
In the May 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Subscription fees (for a newsletter or periodical)
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Brokerage Services LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $9,614,045,104
- Discretionary: $9,457,679,101
- Non-discretionary: $156,366,003

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 1,994 | $2,559,824,533 |
| Investment companies | 15 | $3,775,062,047 |
| Pooled investment vehicles (other than investment companies and business development companies) | 33 | $2,010,831,381 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 12 | $112,240,544 |
| Charitable organizations | 19 | $27,116,120 |
| Corporations or other businesses not listed above | 150 | $1,128,970,479 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Publication of periodicals or newsletters

### Firm details
- Registered since: 1994 (32 years)
- Employees: 80 total, 20 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Charlotte, NC
- Summit, NJ
- White Plains, NY

### Websites listed on Form ADV (Item 1.I)
- [hkholdingco.com](https://hkholdingco.com)
- [horizonkinetics.com](https://horizonkinetics.com)
- [kineticsfunds.com](https://kineticsfunds.com)
- LinkedIn @horizon-kinetics-llc
- X @HORIZONKINETICS

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,888,391,632 | 77 | March 31, 2021 |
| October 2022 | $6,842,041,469 | 78 | March 31, 2022 |
| October 2023 | $7,897,532,391 | 75 | March 31, 2023 |
| October 2024 | $6,503,114,873 | 77 | March 28, 2024 |
| October 2025 | $9,840,059,863 | 84 | March 28, 2025 |
| October 2026 | $9,614,045,104 | 80 | September 24, 2026 |

Regulatory assets under management: $4,888,391,632 in the October 2021 data and $9,614,045,104 in the October 2026 data, up 97%.
Total employees: 77 in October 2021 and 80 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 21 to 20.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Horizon Kinetics Asset Management LLC (CRD 106096): Form ADV filing data as of October 2026.