Murray Stahl Horizon Kinetics Asset Management
Murray Stahl is chairman of Horizon Kinetics, an investment firm known for independent research and unconventional long-term themes. The firm has been closely associated with ideas such as hard assets, owner-operator businesses, and differentiated equity research outside the consensus. Stahl’s commentaries are followed by investors interested in structural market inefficiencies and long-duration themes.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Texas Pacific Land
TPL
|
+$1.27B |
| 2 |
Howard Hughes
HHH
|
+$194M |
| 3 |
Icahn Enterprises
IEP
|
+$135M |
| 4 |
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
|
+$102M |
| 5 |
Civeo
CVEO
|
+$94.4M |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 45.16% |
| 2 | Communication Services | 11.83% |
| 3 | Financials | 10.32% |
| 4 | Real Estate | 6.12% |
| 5 | Materials | 5.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
Cohen & Steers
CNS
$4.19B
| $353K | 0.01% |
+8,343
| New | +$324K |
|
|
CVA
327
DELISTED
Covanta Holding Corporation
CVA
| $353K | 0.01% |
+20,398
| New | +$333K |
|
328
Brown & Brown
BRO
$24.4B
| $352K | 0.01% |
+11,923
| New | +$340K |
|
329
TTEC Holdings
TTEC
$67.5M
| $352K | 0.01% |
+9,702
| New | +$328K |
|
|
VMRK
330
Vivmark Residential
VMRK
$25B
| $351K | 0.01% |
+4,661
| New | +$336K |
|
|
GRMN
331
Garmin
GRMN
$56.9B
| $351K | 0.01% |
+4,064
| New | +$306K |
|
332
Herc Holdings
HRI
$5.41B
| $351K | 0.01% |
+9,007
| New | +$340K |
|
333
Rollins
ROL
$17.8B
| $351K | 0.01% |
+12,657
| New | +$329K |
|
334
Silgan Holdings
SLGN
$4.48B
| $351K | 0.01% |
+11,857
| New | +$327K |
|
335
SS&C Technologies
SSNC
$19.5B
| $351K | 0.01% |
+5,509
| New | +$306K |
|
336
American Homes 4 Rent
AMH
$12.4B
| $350K | 0.01% |
+15,388
| New | +$337K |
|
337
Franklin Templeton, Inc.
BEN
$17.4B
| $350K | 0.01% |
+10,563
| New | +$334K |
|
338
Intuit
INTU
$100B
| $350K | 0.01% |
+1,337
| New | +$309K |
|
339
MasTec
MTZ
$21.4B
| $350K | 0.01% |
+7,280
| New | +$327K |
|
340
Tesla
TSLA
$1.43T
| $350K | 0.01% |
+18,750
| New | +$376K |
|
341
American Financial Group
AFG
$11.9B
| $349K | 0.01% |
+3,624
| New | +$347K |
|
342
Buckle
BKE
$2.26B
| $349K | 0.01% |
+18,668
| New | +$341K |
|
|
JBGS
343
JBG SMITH
JBGS
$732M
| $349K | 0.01% |
+8,452
| New | +$332K |
|
|
JWN
344
DELISTED
Nordstrom
JWN
| $349K | 0.01% |
+7,871
| New | +$359K |
|
|
MZTI
345
The Marzetti Company
MZTI
$3.06B
| $349K | 0.01% |
+2,228
| New | +$358K |
|
346
ScottsMiracle-Gro
SMG
$3.55B
| $349K | 0.01% |
+4,439
| New | +$335K |
|
347
Vornado Realty Trust
VNO
$7.07B
| $349K | 0.01% |
+5,170
| New | +$347K |
|
348
W.R. Berkley
WRB
$25.5B
| $349K | 0.01% |
+20,874
| New | +$492K |
|
|
HTZ
349
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $349K | 0.01% |
+23,134
| New | +$337K |
|
350
MSC Industrial Direct
MSM
$6.69B
| $348K | 0.01% |
+4,202
| New | +$346K |
|
Similar funds
Murray Stahl's Q1 2019 Portfolio in Review
Q1 2019 is the first quarter with a 13F filing on record for Murray Stahl, which disclosed 488 positions worth $3.6B. Its ten largest holdings account for 63% of the portfolio.
Its largest position is Texas Pacific Land: 16,202,835 shares worth $1.39B.
By sector, the portfolio is most concentrated in Energy at 45% of assets, followed by Communication Services and Financials.
- Murray Stahl's largest Q1 2019 buy was Texas Pacific Land: 16,202,835 shares worth $1.39B.
- Murray Stahl's ten largest holdings make up 63% of its $3.6B portfolio in Q1 2019.
- Murray Stahl disclosed 488 positions in Q1 2019, its first 13F filing on record.
Based on Horizon Kinetics Asset Management's 13F filing for Q1 2019, filed 15 May 2019.