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 | |
|---|---|---|---|---|---|---|
376
Under Armour Class C
UA
$2.25B
| $340K | 0.01% |
+18,009
| New | +$340K |
|
377
Marriott Vacations Worldwide
VAC
$3.87B
| $340K | 0.01% |
+3,640
| New | +$327K |
|
378
Mercury Insurance
MCY
$5.85B
| $339K | 0.01% |
+6,773
| New | +$352K |
|
379
Nomad Foods
NOMD
$1.65B
| $339K | 0.01% |
+16,570
| New | +$319K |
|
|
AXE
380
DELISTED
Anixter International Inc
AXE
| $339K | 0.01% |
+6,033
| New | +$353K |
|
381
Host Hotels & Resorts
HST
$15.9B
| $338K | 0.01% |
+17,900
| New | +$330K |
|
382
News Corp Class A
NWSA
$16.4B
| $338K | 0.01% |
+27,143
| New | +$342K |
|
383
Boston Beer
SAM
$1.91B
| $338K | 0.01% |
+1,147
| New | +$314K |
|
384
Cintas
CTAS
$81.6B
| $337K | 0.01% |
+6,664
| New | +$323K |
|
385
Westlake Corp
WLK
$10.1B
| $337K | 0.01% |
+4,959
| New | +$359K |
|
386
Alibaba
BABA
$286B
| $336K | 0.01% |
+1,844
| New | +$310K |
|
|
NAV
387
DELISTED
Navistar International
NAV
| $336K | 0.01% |
+10,389
| New | +$345K |
|
|
RP
388
DELISTED
RealPage, Inc.
RP
| $336K | 0.01% |
+5,540
| New | +$318K |
|
389
Bruker
BRKR
$9.07B
| $335K | 0.01% |
+8,725
| New | +$315K |
|
390
Red Rock Resorts
RRR
$3.61B
| $335K | 0.01% |
+12,948
| New | +$335K |
|
391
Salesforce
CRM
$171B
| $334K | 0.01% |
+2,113
| New | +$328K |
|
392
SiriusPoint
SPNT
$2.74B
| $334K | 0.01% |
+32,211
| New | +$343K |
|
393
Virtu Financial
VIRT
$6B
| $334K | 0.01% |
+14,082
| New | +$361K |
|
|
NGHC
394
DELISTED
National General Holdings Corp
NGHC
| $334K | 0.01% |
+14,076
| New | +$346K |
|
395
LyondellBasell Industries
LYB
$21.8B
| $333K | 0.01% |
+3,960
| New | +$342K |
|
|
IIJI
396
DELISTED
Internet Initiative Japan Inc
IIJI
| $331K | 0.01% |
+33,066
| New | +$370K |
|
397
Monster Beverage
MNST
$93.6B
| $330K | 0.01% |
+24,220
| New | +$345K |
|
398
Precigen
PGEN
$2.58B
| $330K | 0.01% |
+62,680
| New | +$435K |
|
|
SCHW
399
Charles Schwab
SCHW
$194B
| $328K | 0.01% |
+7,682
| New | +$347K |
|
400
Metallus
MTUS
$812M
| $328K | 0.01% |
+30,170
| New | +$348K |
|
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.