Murray Stahl

Murray Stahl

Last Update: 11-14-2017

Number of Stocks: 489
Number of New Stocks: 11

Total Value: $3,343 Mil
Q/Q Turnover: 7%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Murray Stahl past Portfolios

Murray Stahl 13F Filings

Portfolio DateNumber of StocksTotal Value (Mil)Number of New StocksQ/Q Turnover

Murray Stahl 13D/G Filings

Filing date : 2017-10-31,

Murray Stahl Watch

  • The One (Value) Guru Who's a Bitcoin Bull

    FRMO Corp. (FRMO) is a holding company controlled by Murray Stahl (Trades, Portfolio) and Steven Bregman. It holds equity as well as a royalty interest in the private asset management firm Horizon Kinetics where the duo are also executives and head the investment team. FRMO Corp. also invests quite a bit of cash into Horizon Kinetics funds and partnerships as well as various private ventures.

    I’ve been a shareholder for years. Listening to their earnings calls or reading their essays on various subjects from Bitcoin to the move towards indexation has been more valuable than any dividend I’ve ever received. The FRMO September earnings call talked extensively about their crypto investments. I want to take the opportunity of the large drop in values across the cryptocurrency markets, with Bitcoin down almost 50% from its high, to highlight some of the most original thinking I’ve encountered in U.S. asset management.


  • Cryptocurrencies Could Be a New Asset Class

    “Within the next couple of years, cryptocurrency will probably become a legitimate asset class for investment unless it fails in some way.” Murray Stahl


  • American Financial CEO Sells Shares in Company

    Carl Lindner (Insider Trades), co-CEO and co-president of American Financial Group Inc. (AFG), sold 100,000 shares of the company on Sept. 26. The average price per share was $75.14, for a total transaction of $7,514,000. American Financial Group is a holding company, and through the operations of Great American Insurance Group, American Financial is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities. The company has a market cap of $6.42 billion.

    Including the aforementioned transaction, Lindner sold 740,000 shares in 10 transactions since the end of 2012. There were 18 American Financial insider sells totaling 583,283 shares in 2016 to date. There were 24  insider sells of the company totaling 691,610 shares in 2015, and 14 insider sells totaling 295,858 shares in 2014. There were 28 insider sells totaling 836,128 shares in 2013. Overall, American Financial's month end price increased each year since 2013, however, the total number of insider sells and the total insider sell volume has not increased since then. For more information about insider trades with American Financial Group, click here.


  • 10 Stocks Murray Stahl Is Buying

    Murray Stahl (Trades, Portfolio) is the chairman of Horizon Asset Management Inc. He is also the director of research and co-portfolio manager of the Small Cap Opportunities Fund and the Paradigm Fund. In both the first and second quarters, Stahl bought shares in the following stocks.

    CVR Energy Inc. (CVI)


  • 3 of Murray Stahl’s Latest Investment Ideas

    FRMO Corp. (FRMO) is out with another annual letter to investors by CEO Murray Stahl (Trades, Portfolio) and CFO Steven Bregman, and as always, it is highly interesting and a must-read for any enterprising value investor who enjoys creative ideas. The full letter can be read here, but I have taken the liberty to summarize the actionable investment ideas for you:

    1. CASH


  • Murray Stahl Reduced Holdings in 7 of Top 10 2nd-Quarter Transactions

    Seven of the top 10 second-quarter transactions by Murray Stahl (Trades, Portfolio) of Horizon Kinetics were reductions of existing stakes in the portfolio.

    The largest reduction of the quarter was the sale of more than 83% of the guru’s stake in Liberty Media Corp. (LMCK), a Colorado-based mass media company. The guru sold 6,097,053 shares for an average price of $20.4 per share in a deal that had a -4.24% impact on the portfolio.


  • Altisource Portfolio Solutions CEO Invests in Company

    William Shepro (Insider Trades), CEO of Altisource Portfolio Solutions SA (ASPS), purchased 1,700 company shares on May 2.

    The price per share was $29.27 for a total transaction of $49,759. Altisource Portfolio Solutions is a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. The company has a market cap of $550.50 million and a P/S ratio of 0.55.


  • Stocks Murray Stahl Bought for Past 2 Quarters

    Murray Stahl (Trades, Portfolio) is the chairman of Horizon Asset Management. He is also director of Research and co-portfolio manager of the Small Cap Opportunities Fund and the Paradigm Fund. The following are the companies the investor has been buying for at least the last two quarters.

    Bank of America Corporation (BAC)


  • Murray Stahl Adds to Stake in Texas Pacific Land Trust

    Guru Murray Stahl (Trades, Portfolio) is a Brooklyn College graduate with over 30 years of investment experience. In 1978, shortly after he graduated from Brooklyn College, he began his investment career at Bankers Trust, where he spent the next 16 years as the firm's portfolio manager. In 1994, Stahl founded Horizon Kinetics, an investment firm that focuses on long term investing, by using the power of compounding.

    In the first quarter of 2016, Stahl added 30,441 shares of Texas Pacific Land Trust (NYSE:TPL).


  • Murray Stahl Talks Investments Made Through FRMO

    Guru Murray Stahl (Trades, Portfolio) is the CEO and chairman of FRMO Corp. (FRMO). Together with CFO Steven Bregman, they report on the investments made through FRMO on a quarterly basis. There is no transcript available yet for the most recent call, but you can listen to the archived call.

    The call can be a little bit chaotic if you are a new shareholder, but they are absolutely worth listening too. Stahl and Bregman are full of valuable insights into the markets and readily share wisdom related to their unconventional approach to value investing.


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