Horizon Kinetics Holding

Good afternoon, everyone. Apologies for the delay on starting. Thank you for joining us today. My name is Mark Herndon, Chief Financial Officer of Verizon Kinetics. We're pleased to have you joining us today for our call that will cover the results of our first quarter of 2026. Today's discussion of our first quarter will include comments from Stephen Bregman and Peter Doyle, Verizon Kinetics Co-Chief Executive Officers. I will also be available to answer applicable questions and will moderate the questions. So first, a reminder that today's presentation may include forward-looking statements. Reliance on forward-looking statements involves certain risks and uncertainties, including but not limited to uncertainty about the future security evaluations or our performance. During the course of today's call, words such as expect, anticipate, believe, and intend may be used in our discussion of our goals or events in the future. Management cannot provide any assurance that future results will be described It will be as described in our forward-looking statements. Furthermore, the statements made on this call apply only as of today. The information on this call should not be construed to be a recommendation to purchase or sell any particular security or investment fund. The opinions referenced on this call today are not intended to be a forecast of future events or a guarantee of future results. It should not be assumed that any of the security transactions referenced today have been or will prove to be profitable. or that future investment decisions will be profitable or will equal or exceed the past performance of the investments. We encourage you to read our filings with the SEC on our Form 10-K, as well as our other quarterly filings, which describe the risks and uncertainties associated with managing our business. The company does not assume any obligation to update any forward-looking statements made today. These filings can also be found at the OTC Markets website, and our press releases or other information is at our corporate website at www.hkholdingco.com. If you would like to ask a question, you will need to be logged into the GoToMeeting platform. Those of you on the telephone connection will be in listen-only mode. Again, for those of you that are on the GoToMeeting platform, you can submit the question via the chat function. Please direct those questions to the presenters, where I will summarize and relay as best I can so that we can address as many questions as possible. To begin, of course, we want to first acknowledge the recent tragic and unexpected passing of Murray Starr. And for that, I will turn it over to his long-term friend, Peter Doerr.

Thank you, Mark. Good afternoon to everyone. As Mark pointed out, six weeks ago today, almost to the minute, Murray passed away. I think in previous calls that we've had in other related businesses, we've been accused of maybe doing too much or too little, but I think it would be a mistake if we didn't acknowledge his impact. So for two-thirds of my life, or 41 years, Murray stood as a guiding light. He was generous with his time and his vast intellect. He was dedicated to sharing wisdom that truly mattered. Murray didn't just teach. He equipped me, Steve, and the entire Horizon Kinetics family with mental toolkits for navigating not just investments, but life's complexities. He had a unique ability of distilling centuries' worth of knowledge into practical, timeless wisdom. Murray showed us that real success comes from consistency, systems, and intellectual humility. In our new roles as co-CEOs, Steve and I are responsible for shaping Horizon Kinetics' strategy. and to ensure that the operational aspects of the business support that strategy. Investors will be happy to hear that Steve and I have found very little to change thus far. Our unique value-oriented, eclectic investment style will live on, and the nontraditional opportunities that we have always presented to investors will continue unabated. Steve and I have known each other for 41 years as well. I believe that Murray, Steve, and I self-selected over our willingness to think long-term That view is embedded throughout our company, 80 or so employees. There is a new level of enthusiasm among our staff to maintain and to build on an organization that would make Murray proud. I would like to thank our clients and shareholders for their heartfelt condolences and empathy over Murray's passing. At the time of Murray's passing, he was probably the most optimistic I have ever seen him as it pertains to our underlying investments and business. Steve and I share that enthusiasm, and we possess the discipline, fortitude, and patience to let our investments flourish. In closing, I would also like to thank Steve for taking on the added responsibility of being chairman of the board. Steve?

Just like that?