# EDGAR Filing Document

**Accession Number:** 0001438472
**File Stem:** 0001056823-25-000030
**Filing Date:** 2025-11
**Character Count:** 12772
**Document Hash:** 5264608e234e062bf8b39acf5f5ba14e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001056823-25-000030.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001056823-25-000030

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MIAMI INTERNATIONAL HOLDINGS, INC.
- **CENTRAL INDEX KEY:** 0001438472
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 261482385
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95202
- **FILM NUMBER:** 251527887

**BUSINESS ADDRESS:**
- **STREET 1:** 7 ROSZEL ROAD
- **STREET 2:** FIFTH FLOOR, SUITE 1-A
- **CITY:** PRINCETON
- **STATE:** NJ
- **ZIP:** 08540
- **BUSINESS PHONE:** 609-897-7300

**MAIL ADDRESS:**
- **STREET 1:** 7 ROSZEL ROAD
- **STREET 2:** FIFTH FLOOR, SUITE 1-A
- **CITY:** PRINCETON
- **STATE:** NJ
- **ZIP:** 08540

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MIAMI INTERNATIONAL HOLDINGS INC
- **DATE OF NAME CHANGE:** 20080624
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HORIZON KINETICS ASSET MANAGEMENT LLC
- **CENTRAL INDEX KEY:** 0001056823

**ORGANIZATION NAME:**
- **EIN:** 133776334
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 470 PARK AVENUE SOUTH
- **STREET 2:** 4TH FLOOR SOUTH
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
- **BUSINESS PHONE:** 646-495-7347

**MAIL ADDRESS:**
- **STREET 1:** 470 PARK AVENUE SOUTH
- **STREET 2:** 4TH FLOOR SOUTH
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HORIZON ASSET MANAGEMENT LLC
- **DATE OF NAME CHANGE:** 20130813

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HORIZON ASSET MANAGEMENT INC/NY
- **DATE OF NAME CHANGE:** 19990319

## Ex-99

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Exhibit 99-a** | **Exhibit 99-a** | **Exhibit 99-a** | **Exhibit 99-a** | **Exhibit 99-a** |
| **Transactions in Shares During the Past Sixty (60) Days** | **Transactions in Shares During the Past Sixty (60) Days** | **Transactions in Shares During the Past Sixty (60) Days** | **Transactions in Shares During the Past Sixty (60) Days** | **Transactions in Shares During the Past Sixty (60) Days** |
| **Name of Reporting Person** | **Date of<br>Transaction** | **Buy/Sell** | **Aggregate<br>Amount of<br>Securities** | **Share Price** |
| Horizon Kinetics Asset Management LLC | 9/25/2025 | BUY | 1081 | $41.66 |
| Horizon Kinetics Asset Management LLC | 9/26/2025 | BUY | 354 | $41.85 |
| Horizon Kinetics Asset Management LLC | 9/29/2025 | BUY | 6475 | $40.95 |
| Horizon Kinetics Asset Management LLC | 9/30/2025 | BUY | 4983 | $40.29 |
| Horizon Kinetics Asset Management LLC | 10/1/2025 | BUY | 2597 | $39.97 |
| Horizon Kinetics Asset Management LLC | 10/2/2025 | BUY | 730 | $39.53 |
| Horizon Kinetics Asset Management LLC | 10/3/2025 | BUY | 897 | $41.53 |
| Horizon Kinetics Asset Management LLC | 10/6/2025 | BUY | 15973 | $43.38 |
| Horizon Kinetics Asset Management LLC | 10/7/2025 | BUY | 2717 | $43.90 |
| Horizon Kinetics Asset Management LLC | 10/8/2025 | BUY | 6061 | $45.13 |
| Horizon Kinetics Asset Management LLC | 10/9/2025 | BUY | 6932 | $44.72 |
| Horizon Kinetics Asset Management LLC | 10/10/2025 | BUY | 2066 | $43.70 |
| Horizon Kinetics Asset Management LLC | 10/13/2025 | BUY | 2598 | $42.85 |
| Horizon Kinetics Asset Management LLC | 10/14/2025 | BUY | 4185 | $43.26 |
| Horizon Kinetics Asset Management LLC | 10/15/2025 | BUY | 2291 | $43.02 |
| Horizon Kinetics Asset Management LLC | 10/16/2025 | BUY | 10254 | $42.73 |
| Horizon Kinetics Asset Management LLC | 10/17/2025 | BUY | 3406 | $42.02 |
| Horizon Kinetics Asset Management LLC | 10/20/2025 | BUY | 2944 | $42.94 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Horizon Kinetics Asset Management LLC | 10/21/2025 | BUY | 2216 | $43.06 |
| Horizon Kinetics Asset Management LLC | 10/22/2025 | BUY | 2671 | $40.52 |
| Horizon Kinetics Asset Management LLC | 10/23/2025 | BUY | 3597 | $42.25 |
| Horizon Kinetics Asset Management LLC | 10/24/2025 | BUY | 2203 | $43.61 |
| Horizon Kinetics Asset Management LLC | 10/27/2025 | BUY | 4480 | $44.14 |
| Horizon Kinetics Asset Management LLC | 10/28/2025 | BUY | 2069 | $43.57 |
| Horizon Kinetics Asset Management LLC | 10/29/2025 | BUY | 2769 | $43.05 |
| Horizon Kinetics Asset Management LLC | 10/30/2025 | BUY | 6898 | $43.52 |
| Horizon Kinetics Asset Management LLC | 10/31/2025 | BUY | 3740 | $43.36 |
| Horizon Kinetics Asset Management LLC | 11/3/2025 | BUY | 5225 | $43.81 |
| Horizon Kinetics Asset Management LLC | 11/4/2025 | BUY | 2022 | $45.60 |
| Horizon Kinetics Asset Management LLC | 11/5/2025 | BUY | 5021 | $44.77 |
| Horizon Kinetics Asset Management LLC | 11/6/2025 | BUY | 4995 | $46.95 |
| Horizon Kinetics Asset Management LLC | 11/7/2025 | BUY | 3689 | $48.18 |
| Horizon Kinetics Asset Management LLC | 11/10/2025 | BUY | 3458 | $49.30 |
| Horizon Kinetics Asset Management LLC | 11/11/2025 | BUY | 2823 | $49.01 |
| Horizon Kinetics Asset Management LLC | 11/12/2025 | BUY | 36067 | $49.85 |
| Horizon Kinetics Asset Management LLC | 11/13/2025 | BUY | 140960 | $49.01 |
| Horizon Kinetics Asset Management LLC | 11/14/2025 | BUY | 30060 | $48.65 |
| Horizon Kinetics Asset Management LLC | 11/17/2025 | BUY | 24854 | $48.13 |
| Horizon Kinetics Asset Management LLC | 11/18/2025 | BUY | 5671 | $46.04 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Horizon Kinetics Asset Management LLC | 11/19/2025 | BUY | 2112 | $44.73 |
| Horizon Kinetics Asset Management LLC | 11/20/2025 | BUY | 2257 | $43.92 |
| Horizon Kinetics Asset Management LLC | 11/21/2025 | BUY | 2035 | $42.44 |
| Horizon Kinetics Asset Management LLC | 11/24/2025 | BUY | 3536 | $44.61 |
| Horizon Kinetics Asset Management LLC | 11/24/2025 | SELL | 290 | $44.28 |

---

------

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**MIAMI INTERNATIONAL HOLDINGS, INC.**

*(Name of Issuer)*

**Common Stock**

*(Title of Class of Securities)*

**59356Q108**

*(CUSIP Number)*

**Jay Kesslen**<br>470 Park Ave S<br>8th Fl S<br>New York NY 10016<br>646-867-1176

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**11/24/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **59356Q108** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**HORIZON KINETICS ASSET MANAGEMENT LLC** | Name of reporting person<br>**HORIZON KINETICS ASSET MANAGEMENT LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**9499995.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**9499995.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**9499995.00** | Aggregate amount beneficially owned by each reporting person<br>**9499995.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.7%** | Percent of class represented by amount in Row (11)<br>**11.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

**Comment for Reporting Person:** Horizon Kinetics Asset Management LLC ("HKAM") is a Delaware limited liability company and a wholly owned subsidiary of Horizon Kinetics Holding Corporation, a Delaware corporation, and manages funds and accounts that hold securities of the Issuer.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock

**(b) Name of Issuer:**
MIAMI INTERNATIONAL HOLDINGS, INC.

**(c) Address of Issuer's Principal Executive Offices:**
7 ROSZEL ROAD, 7 ROSZEL ROAD, PRINCETON, NJ, 08540

**Item 4. Purpose of Transaction**

HKAM acquired the securities reported herein on behalf of the Managed Accounts for investment purposes. In the ordinary course of its business, HKAM intends to regularly review its equity interest in the Issuer and may, from time to time, acquire additional shares or other securities of the Issuer. While HKAM has no present intention to dispose of all or any portion of the shares beneficially owned by Managed Accounts, it may sell shares from time to time for a number of reasons, not limited to client requests, regulatory or investment limitations or other reasons. Any such sales of securities of the Issuer may be in the open market, privately negotiated transactions or otherwise.

Murray Stahl who serves as Chairman, Chief Executive Officer, and Chief Investment Officer of HKAM, was appointed to the Board of Directors of the Issuer on July 15, 2025 and does not exercise investment discretion over the securities of the Issuer beneficially owned by HKAM. In his capacity as a director of the Issuer, Mr. Stahl may have influence over the corporate activities of the Issuer, including activities which may relate to items described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.

Except as described in this Schedule 13D, HKAM does not have any present plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D, although, HKAM, at any time and from time to time, may review, reconsider and change its position and/or change its purpose and/or develop such plans and may seek to influence management or the board of directors of the Issuer with respect to the business and affairs of the Issuer and may from time to time consider pursuing or proposing such matters with advisors, the Issuer or other persons.

**Item 5. Interest in Securities of the Issuer**

**(a)**
As of the close of business on November 24, 2025, HKAM beneficially owned 9,499,995 shares of Common Stock, consisting of: (i) 9,221,128 shares of Common Stock held by the Managed Accounts, and (ii) warrants exercisable for 278,867 shares of Common Stock. The 9,499,995 shares beneficially owned represents 11.7% of the outstanding shares of Common Stock. The warrants are currently vested and presently exercisable until the expiration dates of April 8, 2026, October 17, 2026, November 15, 2026, February 5, 2027, and August 9, 2027. Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission that HKAM is the beneficial owner of the Common Stock referred to herein for purposes of Sections 13(d) and or 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose, and such beneficial ownership is expressly disclaimed, except to the extent of its pecuniary interest therein.

**(b)**
See Item 2(a) above.

**(c)**
Except as set forth in Schedule A attached hereto as Exhibit 99-a, HKAM has not effected any transaction in Common Stock in the past 60 days

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

n/a

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** HORIZON KINETICS ASSET MANAGEMENT LLC

**Signature:** /s/Jay Kesslen

**Name/Title:** Jay Kesslen, General Counsel

**Date:** 11/26/2025