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Murray Stahl

Horizon Kinetics Asset Management LLC

"Murray Stahl is Chief Executive Officer, Chairman of the Board of Horizon Kinetics and is a co-founder of the firm. He has over thirty years of investing experience and is responsible for overseeing the firm’s proprietary research. Murray serves as the firm’s Chief Investment Officer and chairs the Investment Committee, which is responsible for portfolio management decisions.

Shares Held
Asset Size
% Top 10
2533
$9.62B
70.00%
Latest2025Q3
Top BuysWBI (US)
Top SellsSSL (CA)

Latest Changes

Indicators
Latest (2025Q3)
Previous (2025Q2)
Change
Mkt Value (report date)
9.62B
8.85B
+8.70%
Shares Held
2533
2677
-5.38%
Buys
84
132
-36.36%
Sells
795
816
-2.57%

Sector Allocation

No.
Name
% Portfolio
Shares Traded
Mkt Value (Date)
Market Value
Shares Held
Report Date
36.89%
+566.00
$3.55B
$9.82B
10.51M
2026-01-15
13.23%
-369.99K
$1.27B
$1.27B
14.18M
2025-09-30
4.38%
+278.87K
$421.61M
$382.47M
9.50M
2025-12-05
4
Wheaton Precious Metals Ord Shs (CA)
WPM
3.25%
-193.37K
$312.39M
$312.27M
2.79M
2025-09-30
3.12%
+133.19K
$300.47M
$300.47M
5.63M
2025-09-30
6
Franco Nevada Ord Shs (CA)
FNV
2.34%
-31.18K
$225.29M
$225.67M
1.01M
2025-09-30
2.10%
+615.39K
$201.57M
$201.57M
18.26M
2025-09-30
1.67%
+6.35M
$160.26M
$160.26M
6.35M
2025-09-30
1.58%
-71.90K
$151.91M
$151.91M
3.00M
2025-09-30
1.46%
-697.00
$140.02M
$140.02M
831.06K
2025-09-30

Latest Trades

No.
Name
Action
Shares Traded
% Change
Shares Held
Mkt Value (Date)
Report Date
Buy
+566.00
0.00%
10.51M
$3.55B
2026-01-15
Evolve Royalties Ord Shs (CA)
EVR
New
+1.78M
+50.00%
1.78M
$4.80M
2025-12-31
Topaz Energy Ord Shs (CA)
TPZ
Buy
+390.90K
+20.30%
1.53M
$30.77M
2025-12-31
Exit
-63.23K
-100.00%
0.00
$0.00
2025-12-31
New
+63.23K
+50.00%
63.23K
$16.44K
2025-12-31
New
+63.23K
+50.00%
63.23K
$628.55K
2025-12-31
Exit
-57.00K
-100.00%
0.00
$0.00
2025-12-31
New
+52.00K
+50.00%
52.00K
$522.08K
2025-12-31
Exit
-50.01K
-100.00%
0.00
$0.00
2025-12-31
New
+47.00K
+50.00%
47.00K
$464.83K
2025-12-31

Holding Performance

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