About Murray Stahl
Murray Stahl is the Chief Investment Officer and co-founder of Horizon Kinetics LLC, an independent investment advisory and research firm. He is known for his unique and often contrarian perspectives on the market, as well as his deep expertise in identifying long-term secular trends and undervalued assets. Stahl is a respected value investor with a particular interest in businesses with durable, hard-to-replicate franchises.
Murray Stahl Top Holdings of 2025-06-30
| Ticker | Name | Shares | Value | % of Portfolio | Time Held | % Change |
|---|---|---|---|---|---|---|
| 3.58 M | $3.78 B | 44.81% | 4.2 Years | -0.49% | ||
| 14.55 M | $1.23 B | 14.64% | 2.5 Years | -0.99% | ||
| 5.5 M | $371.62 M | 4.41% | 1 Years | +0.22% | ||
| 2.99 M | $268.1 M | 3.18% | 6.3 Years | +0.97% | ||
| 16.28 M | $173.07 M | 2.05% | 0.5 Years | +28.64% | ||
| 1.04 M | $171.06 M | 2.03% | 6.3 Years | +2.63% | ||
| 831,758 | $152.6 M | 1.81% | 6.3 Years | +1.65% | ||
| 3.07 M | $146.71 M | 1.74% | 0.5 Years | +0.38% | ||
| 484,912 | $118.09 M | 1.40% | 6.3 Years | +0.17% | ||
|
N/A
|
CBOE GLOBAL MARKETS INC
|
412,717 | $96.25 M | 1.14% | 6.3 Years | -1.32% |
Recent Moves
Significant New Position
+1.82 M Shares | +$46.73 M Value
Continues to build a major stake in the Materials sector
2025 Q2
Added to Core Holding
+3.62 M Shares | +$38.53 M Value
Largest position increase in Utilities sector
2025 Q2
Reduced Exposure to Position
-17,559 Shares | -$18.55 M Value
Significant reduction in holdings of Energy
2025 Q2
Complete Exit
-2,960 Shares | -$590,490 Value
Cleared IWM, sector remains in portfolio
2025 Q2
Murray Stahl's Historical Top Holdings Breakdown
Portfolio Date:
Murray Stahl Top Stock Picks
| Ticker | Name | Date | Activity | Shares | Shares Change | Value Change |
|---|---|---|---|---|---|---|
| 06/30/2025 | New Buy | 1.82 M | 1.82 M | $46.73 M | ||
| 06/30/2025 | Add 28.6% | 16.28 M | 3.62 M | $38.53 M | ||
|
N/A
|
OSISKO GOLD ROYALTIES LTD
|
06/30/2025 | Sold Out | 1.7 M | -1.7 M | $35.97 M |
| 06/30/2025 | New Buy | 1.36 M | 1.36 M | $29.88 M | ||
| 06/30/2025 | Add 41.3% | 5.84 M | 1.71 M | $21.25 M | ||
| 06/30/2025 | Reduce -0.5% | 3.58 M | -17,559 | $18.55 M | ||
| 06/30/2025 | Add 43.1% | 2.1 M | 631,318 | $14.93 M | ||
| 06/30/2025 | Add 99.9% | 1.65 M | 823,435 | $13.97 M | ||
| 06/30/2025 | Reduce -14.8% | 161,672 | -27,980 | $13.34 M | ||
| 06/30/2025 | Add 86.0% | 4.59 M | 2.12 M | $12.7 M |