Murray Stahl recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Murray Stahl (Trades, Portfolio) 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.
He is also the Co-Portfolio Manager for a number of registered investment companies, private funds and institutional separate accounts. Additionally, Murray is the Chairman and Chief Executive Officer of FRMO Corp. He is also a member of the Board of Directors of the Minneapolis Grain Exchange, the Bermuda Stock Exchange and Texas Pacific Land Corporation. Prior to co-founding the Firm, Murray spent 16 years at Bankers Trust Company (1978-1994) as a senior portfolio manager and research analyst. As a senior fund manager, he was responsible for investing the Utility Mutual Fund, along with three of the bank’s Common Trust Funds: The Special Opportunity Fund, The Utility Fund and The Tangible Assets Fund. He was also a member of the Equity Strategy Group and the Investment Strategy Group, which established asset allocation guidelines for the Private Bank.
Murray received a Bachelor of Arts in 1976, a Masters of Arts in 1980 from Brooklyn College, and an MBA from Pace University in 1985.
As of the latest 13F report, the guru’s equity portfolio contained 324 stocks valued at a total of $5.91Bil. The top holdings were TPL(56.82%), CACI(2.31%), and WPM(2.28%).
According to GuruFocus data, these were Murray Stahl (Trades, Portfolio)’s top five trades of the quarter.
Grayscale Bitcoin Trust
The guru established a new position worth 15,814,012 shares in OTCQX:GBTC, giving the stock a 2.22% weight in the equity portfolio. Shares traded for an average price of $9.880000000000001 during the quarter.
On 02/09/2023, Grayscale Bitcoin Trust traded for a price of $11.75 per share and a market cap of $22.58Mil. The stock has returned -62.52% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Grayscale Bitcoin Trust has a price-book ratio of 0.19.
Texas Pacific Land Corp
Murray Stahl (Trades, Portfolio) reduced their investment in NYSE:TPL by 56,311 shares. The trade had a 2.01% impact on the equity portfolio. During the quarter, the stock traded for an average price of $2385.38.
On 02/09/2023, Texas Pacific Land Corp traded for a price of $1898.62 per share and a market cap of $13.79Bil. The stock has returned 80.83% over the past year.
GuruFocus gives the company a financial strength rating of 10 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Texas Pacific Land Corp has a price-earnings ratio of 34.50, a price-book ratio of 20.30, a price-earnings-to-growth (PEG) ratio of 0.93, a EV-to-Ebitda ratio of 25.49 and a price-sales ratio of 20.90.
The price-to-GF Value ratio is 0.92, earning the stock a GF Value rank of 6.
Sitio Royalties Corp
The guru established a new position worth 2,181,929 shares in NYSE:STR, giving the stock a 1.06% weight in the equity portfolio. Shares traded for an average price of $28.96 during the quarter.
On 02/09/2023, Sitio Royalties Corp traded for a price of $26.53 per share and a market cap of $1.98Bil. The stock has returned 0.00% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Sitio Royalties Corp has a price-earnings ratio of 24.34, a price-book ratio of 0.19, a EV-to-Ebitda ratio of 12.81 and a price-sales ratio of 2.52.
Brigham Minerals Inc
The guru sold out of their 2,027,024-share investment in NYSE:MNRL. Previously, the stock had a 1.01% weight in the equity portfolio. Shares traded for an average price of $32.2 during the quarter.
On 02/09/2023, Brigham Minerals Inc traded for a price of $32.5 per share and a market cap of $1.76Bil. The stock has returned 59.53% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Brigham Minerals Inc has a price-earnings ratio of 13.32, a price-book ratio of 2.65, a EV-to-Ebitda ratio of 7.33 and a price-sales ratio of 5.61.
The price-to-GF Value ratio is 0.95, earning the stock a GF Value rank of 6.
Permian Basin Royalty Trust
During the quarter, Murray Stahl (Trades, Portfolio) bought 668,841 shares of NYSE:PBT for a total holding of 3,744,689. The trade had a 0.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $20.68.
On 02/09/2023, Permian Basin Royalty Trust traded for a price of $24.09 per share and a market cap of $1.11Bil. The stock has returned 92.35% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Permian Basin Royalty Trust has a price-earnings ratio of 27.07, a price-book ratio of 2409.00, a EV-to-Ebitda ratio of 27.29 and a price-sales ratio of 26.07.
The price-to-GF Value ratio is 1.55, earning the stock a GF Value rank of 1.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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