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Murray Stahl’s $6.4 Billion Horizon Kinetics Sells Out Six Companies in First Quarter

Sally Jones

Sally Jones

49 followers
The New York-based mutual fund company Horizon Kinetics is dedicated to the pursuit of independent, creative thought and its application to investing. In the recent portfolio update of Horizon Kinetics, led by chairman, CIO and co-founder Murray Stahl, GuruFocus research shows 442 stocks, 62 of them new, with a total value of $6.4 billion and a quarter-over-quarter turnover of 9%. The Horizon Kinetics portfolio is weighted with top sectors consumer cyclical at 32.5%, real estate at 20.4% and ETF, options, and preferred at 14.8%.

GuruFocus research also shows that Murray Stahl sold out holdings in six companies in the first quarter of 2013. Here are the details of his sell-out trades, as of March 31, 2013:

Sold Out: EOG Resources (EOG) – Oil & Gas – E&P

Trading for six quarters, and losing in only one in 2008, Murray Stahl sold out his position, unloading around 1,945 shares of EOG, at an average price of $127.03 for a gain of 2.75%. His highest gain was 78.5% in the fourth quarter of 2008.

The current share price is $130.42 compared to past valuations.

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Sold Out: Black Diamond Inc. (BDE) – Leisure

Holding for 8 quarters with mixed results, Murray Stahl sold out his position, unloading around 12,000 shares of BDE, at an average price of $8.29 for a gain of 6.5%. His highest gain was 28.7% in the first quarter of 2011.

The current share price is $8.83 compared to past valuations.

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Sold Out: Cowen Group Inc. (COWN) – Capital Markets

In four quarters of activity, Murray Stahl gained in two and lost in two. As of March 31, 2013, he sold out his position, unloading around 95,100 shares of COWN, at an average price of $2.67 for a gain of 7.5%. His highest gain was 17.1% in the fourth quarter of 2012.

The current share price is $2.87 compared to past valuations.

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Sold Out: Immunogen Inc. (IMGN) – Biotechnology

In two quarters of activity, Murray Stahl gained in both; his highest gain was 48.2% in the second quarter of 2011. As of March 31, 2013, he sold out his position, unloading 14,000 shares of IMGN, at an average price of $15.06 for a gain of 19.2%.

The current share price is $17.95 compared to past valuations.

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Sold Out: Myrexis Inc. (MYRX) – Drug Manufacturers – Specialty and Generic

In three quarters of activity, Murray Stahl has seen major losses. As of March 31, 2013, he sold out his position, unloading 74,000 shares of MYRX, at an average price of $1.55 for a loss of 95.5%. In 2011, second quarter and third quarter, he had a loss of 98.3% and 97.7%, respectively.

The current share price is $0.07 compared to past valuations.

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Sold Out: Washington Post Company (WPO) – Education and Training Services

In this long-time holding, Murray Stahl gained in 15 out of 17 quarters. As of March 31, 2013, he sold out his position, unloading 700 shares of WPO at an average price of $402.68 for a gain of 20.3%.

The current share price is $484.49 compared to past valuations.

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With over 30 years of investing experience, Horizon Kinetics’ top executive Murray Stahl fills multiple roles. In addition to his company and board leadership roles, he is also responsible for overseeing the Horizon Kinetics Research Team. Horizon Kinetics adheres to a long-term, contrarian, fundamental value investment philosophy. Horizon Kinetics asserts that investors are better served by extending their investment time horizon and harnessing the power of compounding.

Check out the rest of Murray Stahl’s trades.



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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 4.0/5 (7 votes)

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