Senior Management
Peter Doyle
Peter is Co-Founder and Vice-President of Horizon Kinetics Holdings Corporation (OTC: HKHC) and a Managing Director of Horizon Kinetics Asset Management LLC, a wholly owned subsidiary (together, “HKHC”). He is a senior member of the research team, and a member of the Investment Committee and the Board of Directors for HKHC. Peter is a Co-Portfolio Manager for several registered investment companies, private funds, and institutional separate accounts and is also responsible for oversight of the Firm’s marketing and sales activities. In addition, Peter serves as the Vice-President of FRMO Corp. (OTC: FRMO). Previously, Peter was with Bankers Trust Company (1985-1994) as a Senior Investment Officer, where he also served on the Finance, Utility and REIT Research sub-group teams. Peter received a BS from St. John’s University and an MBA from Fordham University.
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Murray Stahl
Mr. Murray Stahl is the Chief Executive Officer and Chairman of the Board of Horizon Kinetics Holding Corporation (OTC: HKHC), the parent company to Horizon Kinetics Asset Management LLC, a registered investment adviser, where he is the Chief Investment Officer and co-founder. He has over 40 years of investing experience and is responsible for overseeing the Firm’s Investment Committee, which is responsible for portfolio management decisions across the entire Firm. He is a Co-Portfolio Manager for a number of open-ended and closed-ended investment companies, institutional and retail separate accounts, and private funds. Additionally, Murray is the Chief Executive Officer of FRMO Corp (OTC: FRMO) (since 2001). He is also the President, Chief Executive Officer, and Co-Portfolio manager of RENN Fund, Inc. (NYSE: RCG) (since 2017). Murray is a member of the Board of Directors of Texas Pacific Land Corporation (NYSE: TPL) (since 2021), a member of the Board of Directors of Miami International Holdings, Inc. (since 2025), and is a managing member of MSRH, LLC. Prior to co-founding the Firm in 1994, Murray spent 16 years at Bankers Trust Company (1978-1994) as a senior portfolio manager and research analyst, where he was responsible for investing the Utility Mutual Fund, along with three of the bank’s Common Trust Funds: The Special Opportunity Fund, The Utility Fund, and The Tangible Assets Fund. He was also a member of the Equity Strategy Group and the Investment Strategy Group, which established asset allocation guidelines for the Private Bank. Murray received a Bachelor of Arts in 1976, a Masters of Arts in 1980 from Brooklyn College, and an MBA from Pace University in 1985.
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Steven Bregman
Steven is the Co-Founder and President of Horizon Kinetics Holding Corporation (OTC: HKHC) and Senior Portfolio Manager for Horizon Kinetics Asset Management LLC, a wholly owned subsidiary (together, “HKHC”). He is a senior member of the Firm’s research team, a member of the Investment Committee and Board of Directors for HKHC and supervises all research reports produced by the Firm. As one of the largest independent research firms, HKHC focuses on structurally inefficient market sectors, including domestic spin-offs, global spin-offs (The Spin-Off Report and Global Spin-Off Report), distressed debt (Contrarian Fixed Income) and short sale candidates (Devil’s Advocate), among others. Steve is also the President and CFO of FRMO Corp., (OTC: FRMO), and is a member of the Board of Directors of Winland Electronics, Inc. (OTC: WELX). He received a BA from Hunter College, and his CFA® Charter in 1989.
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Alun Williams
Alun is the Chief Operating Officer of Horizon Kinetics Holding Corporation (OTC: HKHC), a wholly owned subsidiary of Horizon Kinetics Asset Management LLC (together, “HKHC”). Alun joined Horizon Kinetics in 2009 and, after 12 years as the firm’s Director of Trading and Operations, took over the role of Chief Operating Officer in 2021. As Chief Operating Officer, Alun is responsible for overseeing daily operations and administrative functions for the Company. Prior to 2009, Alun was at Goldman Sachs where he was the head of GSAM Operations Salt Lake City. He joined Goldman Sachs in 1996 and in his time there held several operational and control positions within the equity, private wealth and asset management divisions. He is also a member of the Board of Directors and the President of Consensus Mining & Seigniorage Corp. (OTC: CMSG) and a member of the Board of Directors of the Horizon Kinetics ICAV, a regulated UCITS fund. Alun received a BSc in Business Administration from Bath University, England.
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Jay Kesslen
Jay is General Counsel of Horizon Kinetics Holdings Corporation (OTC: HKHC), a wholly owned subsidiary of Horizon Kinetics Asset Management LLC (together, “HKHC”). Jay joined the Firm in 1999 and oversees all aspects of the Firm’s legal affairs, advises on all material compliance matters, and is responsible for the Firm’s corporate governance. Jay is the Firm’s Anti-Money Laundering Officer and also serves as a Director for several private funds managed by subsidiaries of the Firm. He is also Vice-President and Assistant Secretary for Kinetics Mutual Funds, Inc., a series of U.S. mutual funds managed by HKHC. Jay also serves as the General Counsel of FRMO Corp. (OTC: FRMO), a publicly traded company. Jay holds a BA in Economics from the State University of New York at Plattsburgh (cum laude) and a JD from Albany Law School.
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Russell Grimaldi
Russ is the Chief Compliance Officer and Associate General Counsel of Horizon Kinetics Holding Corporation (OTC: HKHC), a wholly owned subsidiary of Horizon Kinetics Asset Management LLC (together, “HKHC”). Russ joined the Firm in 2005 and oversees the Firm’s compliance program and supports all legal and regulatory functions. Russ has substantial experience with the rules and regulations governing the investment management industry and is a frequent speaker at various industry events. He is also a member of several of the Firm’s operating committees and is the Anti-Money Laundering Compliance Officer for the Firm’s offshore private funds. Russ holds a BA in Legal Studies from Quinnipiac University (cum laude) and a JD from Albany Law School.
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Thomas Ewing
Tom is a Co-Founder and Vice President of Horizon Kinetics Holding Corporation (OTC: HKHC), a wholly owned subsidiary of Horizon Kinetics Asset Management LLC (together, “HKHC”). Previously, Tom was a Marketing Director with Smith Barney’s Capital Management Division (1989-1991) and then a Financial Consultant at Wheat First Butcher Singer (1991-1996). Tom received a BA from Washington & Lee University.