Murray Stahl's FNV Position Overview
Murray Stahl (via Horizon Kinetics Asset Management LLC) currently holds 968,101 shares of Franco-Nevada Corporation (FNV) worth $200.67 M, representing 2.71% of the portfolio. First purchased in 2013-Q2, this long-term strategic position has been held for 51 quarters.
Based on 13F filings since 2013, Murray Stahl has maintained a long-term strategic position in FNV, representing a significant commitment to this investment thesis. Largest addition occurred in Q1 2016, adding 306,101 shares. Largest reduction occurred in Q2 2020, reducing 284,946 shares.
Analysis based on 13F filings available since 2013 Q2
Murray Stahl's Franco-Nevada Corporation (FNV) Holding Value Over Time
Track share changes against reported price movement
Quarterly Franco-Nevada Corporation (FNV) Trades by Murray Stahl
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | -44,261 | Reduce 4.37% | 968,101 | $207.28 |
| Q3 2025 | -31,184 | Reduce 2.99% | 1.01 M | $222.91 |
| Q2 2025 | +26,772 | Add 2.63% | 1.04 M | $163.92 |
| Q1 2025 | +28,741 | Add 2.91% | 1.02 M | $157.56 |
| Q4 2024 | +52,199 | Add 5.58% | 988,033 | $117.59 |
| Q3 2024 | +17,232 | Add 1.88% | 935,834 | $124.25 |
| Q2 2024 | +21,253 | Add 2.37% | 918,602 | $118.52 |
| Q1 2024 | +25,206 | Add 2.89% | 897,349 | $119.16 |
| Q4 2023 | -84,606 | Reduce 8.84% | 872,143 | $110.81 |
| Q3 2023 | -48,305 | Reduce 4.81% | 956,749 | $133.49 |
| Q2 2023 | -32,928 | Reduce 3.17% | 1.01 M | $142.60 |
| Q1 2023 | -35,707 | Reduce 3.33% | 1.04 M | $145.80 |
| Q4 2022 | -4,876 | Reduce 0.45% | 1.07 M | $136.48 |
| Q3 2022 | -35,352 | Reduce 3.17% | 1.08 M | $119.48 |
| Q2 2022 | +30,857 | Add 2.85% | 1.11 M | $131.58 |
| Q1 2022 | +99,555 | Add 10.12% | 1.08 M | $159.52 |
| Q4 2021 | +35,220 | Add 3.71% | 983,505 | $138.29 |
| Q3 2021 | +24,551 | Add 2.66% | 948,285 | $129.91 |
| Q2 2021 | +155,948 | Add 20.31% | 923,734 | $145.07 |
| Q1 2021 | +958 | Add 0.12% | 767,786 | $125.29 |
| Q4 2020 | -47,470 | Reduce 5.83% | 766,828 | $125.33 |
| Q3 2020 | -23,787 | Reduce 2.84% | 814,298 | $139.58 |
| Q2 2020 | -284,946 | Reduce 25.37% | 838,085 | $139.64 |
| Q1 2020 | -9,762 | Reduce 0.86% | 1.12 M | $99.52 |
| Q4 2019 | -3,615 | Reduce 0.32% | 1.13 M | $103.30 |
| Q3 2019 | +97,889 | Add 9.43% | 1.14 M | $91.16 |
| Q2 2019 | +56,358 | Add 5.74% | 1.04 M | $84.88 |
| Q1 2019 | +223,286 | Add 29.42% | 982,161 | $75.05 |
| Q4 2018 | +73,762 | Add 10.77% | 758,875 | $70.17 |
| Q3 2018 | -6,301 | Reduce 0.91% | 685,113 | $62.55 |
| Q2 2018 | -6,408 | Reduce 0.92% | 691,414 | $73.02 |
| Q1 2018 | +8,031 | Add 1.16% | 697,822 | $68.39 |
| Q4 2017 | -2,828 | Reduce 0.41% | 689,791 | $79.95 |
| Q3 2017 | +13,928 | Add 2.05% | 692,619 | $77.48 |
| Q2 2017 | -27,435 | Reduce 3.89% | 678,691 | $72.16 |
| Q1 2017 | +82,100 | Add 13.16% | 706,126 | $65.51 |
| Q4 2016 | -213,269 | Reduce 25.47% | 624,026 | $59.76 |
| Q3 2016 | -46,135 | Reduce 5.22% | 837,295 | $69.87 |
| Q2 2016 | -75,283 | Reduce 7.85% | 883,430 | $76.06 |
| Q1 2016 | +306,101 | Add 46.90% | 958,713 | $61.38 |
| Q4 2015 | +48,046 | Add 7.95% | 652,612 | $45.75 |
| Q3 2015 | -18,303 | Reduce 2.94% | 604,566 | $44.02 |
| Q2 2015 | +3,076 | Add 0.50% | 622,869 | $47.65 |
| Q1 2015 | -18,817 | Reduce 2.95% | 619,793 | $48.54 |
| Q4 2014 | -11,512 | Reduce 1.77% | 638,610 | $49.19 |
| Q3 2014 | +154,712 | Add 31.23% | 650,122 | $48.88 |
| Q2 2014 | +949 | Add 0.19% | 495,410 | $57.34 |
| Q1 2014 | -25,018 | Reduce 4.82% | 494,461 | $45.86 |
| Q4 2013 | -127,572 | Reduce 19.72% | 519,479 | $40.74 |
| Q3 2013 | -55,511 | Reduce 7.90% | 647,051 | $45.26 |
| Q2 2013 | +702,563 | Add 0.00% | 702,562 | $35.77 |
Murray Stahl's Franco-Nevada Corporation Investment FAQs
Murray Stahl first purchased Franco-Nevada Corporation (FNV) in Q2 2013, acquiring 702,562 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Murray Stahl has held Franco-Nevada Corporation (FNV) for 51 quarters since Q2 2013.
Murray Stahl's largest addition to Franco-Nevada Corporation (FNV) was in Q2 2013, adding 702,562 shares worth $25.13 M.
According to the latest 13F filing for Q4 2025, Murray Stahl's firm, Horizon Kinetics Asset Management LLC, owns 968,101 shares of Franco-Nevada Corporation (FNV), valued at approximately $200.67 M.
As of the Q4 2025 filing, Franco-Nevada Corporation (FNV) represents approximately 2.71% of Murray Stahl's publicly disclosed stock portfolio, making it one of their key holdings.
Murray Stahl's peak holding in Franco-Nevada Corporation (FNV) was 1,136,408 shares, as reported at the end of Q3 2019.