Scott J. Adelson - 30 Dec 2025 SCHEDULE 13D/A Report for Houlihan Lokey, Inc. Class A common stock, par value $0.001 per share (HLI)

Filing Manager: Scott J. Adelson
Reporting Manager: A&R Voting Trust
Security: Houlihan Lokey, Inc. Class A common stock, par value $0.001 per share
Symbol: HLI
Shares outstanding: 70,218,542 shares
Disclosed Ownership: 15,799,172 shares
Ownership: 22%
Form type: SCHEDULE 13D/A
Filing time: 02 Jan 2026, 16:59:49 UTC
Date of event: 30 Dec 2025
SEC: View on sec.gov

Reporting Managers (4)

Name	Ownership	Shares Owned	shared voting power	Signature	Title	CIK
A&R Voting Trust	22%	15,799,172	15,799,172	/s/ J. Lindsey Alley	J. Lindsey Alley, Attorney-in-Fact for Scott L. Beiser, Trustee	0001649320
Scott Joseph Adelson	22%	15,799,172	15,799,172	/s/ J. Lindsey Alley	Attorney-in-Fact for Scott Joseph Adelson	0001360042
Scott L Beiser	22%	15,799,172	15,799,172	/s/ J. Lindsey Alley	Attorney-in-Fact for Scott L Beiser	0001649212
Irwin Gold	22%	15,799,172	15,799,172	/s/ J. Lindsey Alley	Attorney-in-Fact for Irwin Gold	0001122672