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 | |
|---|---|---|---|---|---|---|
351
Hyatt Hotels
H
$17B
| $347K | 0.01% |
+4,775
| New | +$338K |
|
352
Raymond James Financial
RJF
$33.7B
| $347K | 0.01% |
+6,471
| New | +$347K |
|
353
Columbia Sportswear
COLM
$3.09B
| $346K | 0.01% |
+3,317
| New | +$320K |
|
354
Marriott International
MAR
$92.9B
| $346K | 0.01% |
+2,769
| New | +$326K |
|
355
Choice Hotels
CHH
$4.93B
| $345K | 0.01% |
+4,432
| New | +$344K |
|
356
Heartland Express
HTLD
$993M
| $345K | 0.01% |
+17,880
| New | +$355K |
|
357
Lands' End
LE
$375M
| $345K | 0.01% |
+20,793
| New | +$355K |
|
358
DigitalBridge
DBRG
$2.95B
| $344K | 0.01% |
+16,196
| New | +$362K |
|
|
HES
359
DELISTED
Hess
HES
| $344K | 0.01% |
+5,713
| New | +$314K |
|
360
NewMarket
NEU
$8.62B
| $344K | 0.01% |
+793
| New | +$335K |
|
361
Pegasystems
PEGA
$5.52B
| $344K | 0.01% |
+10,596
| New | +$312K |
|
362
Ameriprise Financial
AMP
$49.1B
| $343K | 0.01% |
+2,681
| New | +$333K |
|
363
CSX Corp
CSX
$95.6B
| $343K | 0.01% |
+13,740
| New | +$318K |
|
364
Delta Air Lines
DAL
$54.2B
| $343K | 0.01% |
+6,650
| New | +$330K |
|
365
Bath & Body Works
BBWI
$3.92B
| $342K | 0.01% |
+15,359
| New | +$338K |
|
366
VanEck Gold Miners ETF
GDX
$31.8B
| $342K | 0.01% |
+15,239
| New | +$335K |
|
367
Mohawk Industries
MHK
$9.23B
| $342K | 0.01% |
+2,714
| New | +$353K |
|
368
Spectrum Brands
SPB
$2B
| $342K | 0.01% |
+6,246
| New | +$334K |
|
369
Timken Company
TKR
$8.67B
| $342K | 0.01% |
+7,835
| New | +$333K |
|
370
Xerox
XRX
$381M
| $342K | 0.01% |
+10,688
| New | +$301K |
|
371
Conduent
CNDT
$250M
| $341K | 0.01% |
+24,705
| New | +$329K |
|
372
Dillards
DDS
$9.71B
| $341K | 0.01% |
+4,728
| New | +$325K |
|
373
Wells Fargo
WFC
$254B
| $341K | 0.01% |
+7,058
| New | +$347K |
|
374
Amkor Technology
AMKR
$12.5B
| $340K | 0.01% |
+39,813
| New | +$329K |
|
|
SRG
375
Seritage Growth Properties
SRG
$120M
| $340K | 0.01% |
+7,660
| New | +$318K |
|
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.