Letters by company

Horizon Kinetics Holding Corp

2 letters discussing HKHC. Everything written about it on this site is on its ticker page.

Greenhaven Road Capital Partners Fund Q1 Greenhaven Road’s Partners Fund argues that Maran Capital’s Horizon Kinetics Holding Company stake offers overlooked exposure to royalties, mineral and water rights, exchanges and future incentive fees. The manager values HKHC’s balance-sheet investments, asset-management earnings and potential carry, while favoring concentrated managers focused outside major indices. fourth quarter +2.0% HKHC $498MMIAX $4.2B
Maran Capital Management Q1 2026 Letter to Partners Maran Partners Fund used software and broader market dislocations to begin a small position in a cash-rich, free-cash-flow-generative company viewed as an AI fear casualty. The fund also reviews a delisting, an acquired uplisting candidate, and an insurance demutualization, arguing that patience and illiquidity can create special-situation opportunities. first quarter -2.3% HKHC $498M