We are live on ! Find out more
MS

Murray Stahl Horizon Kinetics Asset Management

AUM $8.82B
1-Year Est. Return 23.05%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+69.95%
1 Year Est. Return
+23.05%
3 Year Est. Return
+192.13%
5 Year Est. Return
+221.88%
10 Year Est. Return
–
AUM
$4.41B
AUM Growth
+$1.41B
Cap. Flow
-$85.8M
Cap. Flow %
-1.95%
Top 10 Hldgs %
71.33%
Holding
366
New
19
Increased
62
Reduced
170
Closed
26

Top Buys

Rank Stock Value
1
ADM icon
Archer Daniels Midland
ADM
+$7.84M
2
MSB
Mesabi Trust
MSB
+$7.59M
3
ICE icon
Intercontinental Exchange
ICE
+$4.96M
4
WFG icon
West Fraser Timber
WFG
+$4.33M
5
MNRL
Brigham Minerals, Inc. Class A Common Stock
MNRL
+$4.25M

Top Sells

Rank Stock Value
1
TPL icon
Texas Pacific Land
TPL
+$54.2M
2
SHV icon
iShares 0-1 Year Treasury Bond ETF
SHV
+$8.9M
3
HHH icon
Howard Hughes
HHH
+$5.53M
4
WEN icon
Wendy's
WEN
+$4.62M
5
IEP icon
Icahn Enterprises
IEP
+$3.47M

Sector Composition

Rank Sector Weight
1 Energy 58.84%
2 Financials 8.71%
3 Materials 6.9%
4 Communication Services 5.93%
5 Consumer Discretionary 4.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LMT icon
351
Lockheed Martin
LMT
$130B
– –
-882
Closed -$313K
MS icon
352
Morgan Stanley
MS
$336B
– –
-2,943
Closed -$202K
QCOM icon
353
Qualcomm
QCOM
$169B
– –
-1,354
Closed -$206K
QSR icon
354
Restaurant Brands International
QSR
$28.2B
– –
-5,636
Closed -$344K
SII
355
Sprott
SII
$3.41B
– –
-7,665
Closed -$222K
SOXX icon
356
iShares Semiconductor ETF
SOXX
$41.3B
– –
-2,748
Closed -$347K
UNH icon
357
UnitedHealth
UNH
$350B
– –
-625
Closed -$219K
UPS icon
358
United Parcel Service
UPS
$86.8B
– –
-2,480
Closed -$418K
VUG icon
359
Vanguard Morningstar Growth ETF
VUG
$225B
– –
-15,306
Closed -$646K
WMT icon
360
Walmart Inc
WMT
$825B
– –
-13,170
Closed -$633K
BPYU
361
DELISTED
Brookfield Property REIT Inc. Class A Common Stock
BPYU
– –
-25,518
Closed -$381K
BAF
362
DELISTED
BLACKROCK MUNICIPAL INCOME INVESTMENT QUALITY TRUST
BAF
– –
-76,195
Closed -$1.14M
DUC
363
DELISTED
Duff & Phelps Utility & Corporate Bond Trust
DUC
– –
-12,425
Closed -$124K
MUS
364
DELISTED
BLACKROCK MUNIHOLDINGS QUALITY FUND, INC.
MUS
– –
-75,386
Closed -$997K
CEO
365
DELISTED
CNOOC Limited
CEO
– –
-10,365
Closed -$950K
11 12 13 14
15

Similar funds

MT
Midwest Trust Overland Park, Kansas $8.83B AUM 27.45% 1-Year Est. Return
ASN
Advisory Services Network Atlanta, Georgia $8.83B AUM 38.5% 1-Year Est. Return
VT
Vise Technologies New York $8.83B AUM 27.11% 1-Year Est. Return
LGF
LGT Group Foundation Vaduz, Liechtenstein $8.84B AUM 31.56% 1-Year Est. Return
WJWM
Williams Jones Wealth Management New York $8.86B AUM 22.16% 1-Year Est. Return
IMRF
Illinois Municipal Retirement Fund Oak Brook, Illinois $8.87B AUM 36.45% 1-Year Est. Return
AMH
Aspex Management (HK) Central, Hong Kong $8.89B AUM 39.91% 1-Year Est. Return
GRQ
Gardner Russo & Quinn Lancaster, Pennsylvania $8.93B AUM 6.76% 1-Year Est. Return

Murray Stahl's Q1 2021 Portfolio in Review

As of Q1 2021, Murray Stahl held 366 positions worth $4.41B, up 47% from $3B the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Murray Stahl's Q1 2021 filing shows 19 new, 62 increased, 170 reduced and 26 closed positions. Its largest new stake was West Fraser Timber: 64,459 shares worth $4.64M. The largest sale was Texas Pacific Land, an estimated $54.2M.

By sector, the portfolio is most concentrated in Energy at 59% of assets, up from 42% a quarter earlier, followed by Financials and Materials.

  • Murray Stahl's largest Q1 2021 buy was West Fraser Timber: 64,459 shares worth $4.64M.
  • Murray Stahl added most to Archer Daniels Midland in Q1 2021, an estimated $7.84M increase.
  • Murray Stahl's biggest Q1 2021 reduction was Texas Pacific Land, cutting an estimated $54.2M.
  • Murray Stahl fully exited BLACKROCK MUNICIPAL INCOME INVESTMENT QUALITY TRUST in Q1 2021, selling an estimated $1.14M.
  • Murray Stahl's ten largest holdings make up 71% of its $4.41B portfolio in Q1 2021.
  • Murray Stahl opened 19 new positions and closed 26 in Q1 2021.
  • Murray Stahl's portfolio value rose 47% quarter-over-quarter to $4.41B.

Based on Horizon Kinetics Asset Management's 13F filing for Q1 2021, filed 11 May 2021.