Murray Stahl is the co-founder, Chief Executive Officer, and Chairman of the Board of Horizon Kinetics. Before starting his own company, Stahl served 16 years as a senior portfolio manager and research analyst at Bankers Trust Company (1978-1994).
He is also the co-portfolio manager of many registered investment companies, funds and accounts, as well as a member of the Board of Directors of the Texas Pacific Land Corporation, the Bermuda Stock Exchange, and the Minneapolis Grain Exchange. Stahl got his MBA from Pace University in 1985. Let’s take a look at the top 10 holdings of Murray Stahl.
Top 10 Holdings Of Murray Stahl
We have used the latest available 13F filing (as of Dec. 31, 2022) of Horizon Kinetics to develop this list of the top 10 holdings of Murray Stahl. Here are the top 10 holdings of Murray Stahl:
10. Archer Daniels Midland
Stahl owns over 1 million shares of Archer-Daniels-Midland Co (NYSE:ADM) at an estimated average price of $63. These shares have a market value of more than $94 million and account for 1.67% of Stahl’s portfolio.
Stahl first took a position in Archer Daniels Midland shares in Q2 2020 and sold a few shares of it in Q4 2022. Archer Daniels Midland shares are down by over 12% year to date, bringing their 3-month return to -14%.
9. Permian Basin Royalty Trust
Stahl owns over 3.74 million shares of Permian Basin Royalty Trust (NYSE:PBT) at an estimated average price of $15.71. These shares have a market value of more than $94 million and account for 1.67% of Stahl’s portfolio.
Stahl first took a position in Permian Basin Royalty Trust shares in Q1 2019 and added some shares of it in Q4 2022 as well. Permian Basin Royalty Trust shares are down by almost 5% year to date, bringing their 3-month return to almost 24%.
8. Intercontinental Exchange
Stahl owns over 992K shares of Intercontinental Exchange Inc (NYSE:ICE) at an estimated average price of $103.82. These shares have a market value of more than $101 million and account for 1.8% of Stahl’s portfolio.
Stahl first took a position in Intercontinental Exchange shares in Q1 2019 and sold a few shares of it in Q4 2022. Intercontinental Exchange shares are up by over 4% year to date, bringing their 3-month return to almost 3%.
7. Cheniere Energy
Stahl owns over 693K shares of Cheniere Energy, Inc. (NYSEAMERICAN:LNG) at an estimated average price of $78.20. These shares have a market value of more than $104 million and account for 1.84% of Stahl’s portfolio.
Stahl first took position in Cheniere Energy shares in Q1 2019, and sold a few shares of it in Q4 2022. Cheniere Energy shares are down by over 3% year to date, bringing their 3-month return to almost -14%.
6. Civeo
Stahl owns over 3.87 million shares of Civeo Corp (NYSE:CVEO) at an estimated average price of $23.15. These shares have a market value of more than $120 million and account for 2.13% of Stahl’s portfolio.
Stahl first took a position in Civeo shares in Q1 2021 and added some shares of it in Q4 2022 as well. Civeo shares are up by almost 9% year to date, bringing their 3-month return to over 9%.
5. Grayscale Bitcoin Trust
Stahl owns over 15 million shares of Grayscale Bitcoin Trust (OTCMKTS:GBTC) at an estimated average price of $8.29. These shares have a market value of more than $131 million and account for 2.32% of Stahl’s portfolio. Stahl first took position in Grayscale Bitcoin a Trust shares in Q4 2022.
4. Wheaton Precious Metals
Stahl owns over 3.44 million shares of Wheaton Precious Metals Corp (NYSE:WPM) at an estimated average price of $27.78. These shares have a market value of more than $134 million and account for 2.38% of Stahl’s portfolio.
Stahl first took position in Wheaton Precious Metals shares in Q1 2019 and added some shares of it in Q4 2022 as well. Wheaton Precious Metals shares are up by over 8% year to date, bringing their 3-month return to over 14%.
3. CACI International
Stahl owns over 455K shares of CACI International Inc (NYSE:CACI) at an estimated average price of $196.13. These shares have a market value of more than $136 million and account for 2.42% of Stahl’s portfolio.
Stahl first took a position in CACI International shares in Q1 2019 and added some shares of it in Q4 2022 as well. CACI International shares are up by over 1% year to date, bringing their 3-month return to almost 1%.
2. Franco-Nevada
Stahl owns over 1 million shares of Franco-Nevada Corp (NYSE:FNV) at an estimated average price of $95.32. These shares have a market value of more than $146 million and account for 2.59% of Stahl’s portfolio.
Stahl first took a position in Franco-Nevada shares in Q1 2019 and sold a few shares of it in Q4 2022. Franco-Nevada shares are down by almost 3% year to date, bringing their 3-month return to almost -5%.
1. Texas Pacific Land
Stahl owns over 1.42 million shares of Texas Pacific Land Corp (NYSE:TPL) at an estimated average price of $657.65. These shares have a market value of more than $2.96 billion and account for 52.3% of Stahl’s portfolio.
Stahl sold a few shares of Texas Pacific Land in Q4 2022. Texas Pacific Land shares are down by over 23% year to date, bringing their 3-month return to almost -34%.
This article originally appeared on ValueWalk
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