HAWAIIAN ELEC INDUSTRIES

Ticker: HE CUSIP: 419870100 Class: COM

HORIZON KINETICS ASSET MANAGEMENT LLC's Holding History (CIK: 0001056823)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 19,392,363 Value ($000) $238,526 Avg Close $11.59 Range $10.79 - $12.73

Q3 2025

Shares 18,257,717 Value ($000) $201,565 Avg Close $11.39 Range $10.45 - $13.41

Q2 2025

Shares 16,281,709 Value ($000) $173,075 Avg Close $10.43 Range $9.06 - $11.15

Q1 2025

Shares 12,657,000 Value ($000) $138,594 Avg Close $10.10 Range $8.14 - $11.99

Q4 2024

Shares 2,379,498 Value ($000) $23,153 Avg Close $10.11 Range $8.84 - $11.01

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	19,392,363	$238,526	$11.59	$10.79 - $12.73
Q3 2025	18,257,717	$201,565	$11.39	$10.45 - $13.41
Q2 2025	16,281,709	$173,075	$10.43	$9.06 - $11.15
Q1 2025	12,657,000	$138,594	$10.10	$8.14 - $11.99
Q4 2024	2,379,498	$23,153	$10.11	$8.84 - $11.01