Horizon Kinetics
Murray Stahl
asset managervalue
Portfolio Value
$9.2B
Positions
353
Quarter
2026-03-31
New Positions
44
Exits
15
Portfolio Value History — 8 Quarters
| Ticker | Value | Shares | % of Portfolio |
|---|---|---|---|
| $4.8B | 10.0M | 51.5% | |
GRAYSCALE | $738.9M | 14.0M | 8.0% |
LANDBRIDGE | $390.6M | 5.7M | 4.2% |
| $321.1M | 21.6M | 3.5% | |
| $230.8M | 1.8M | 2.5% | |
WATERBRIDG | $196.7M | 7.3M | 2.1% |
| $187.1M | 757.3K | 2.0% | |
PERMIAN BA | $137.3M | 6.4M | 1.5% |
MIAMI INTL | $134.3M | 3.5M | 1.5% |
| $131.9M | 838.9K | 1.4% | |
| $119.3M | 420.3K | 1.3% | |
| $115.3M | 410.1K | 1.2% | |
MESABI TR | $98.9M | 3.1M | 1.1% |
GRAYSCALE | $90.1M | 3.0M | 1.0% |
| $84.1M | 154.6K | 0.9% | |
| $79.8M | 270.3K | 0.9% | |
VIPER ENER | $78.1M | 1.7M | 0.8% |
| $70.8M | 651.8K | 0.8% | |
OR ROYALTI | $66.7M | 1.8M | 0.7% |
| $63.6M | 1.6M | 0.7% | |
CIVEO CORP | $62.2M | 2.4M | 0.7% |
| $43.9M | 225.1K | 0.5% | |
BUNGE GLOB | $42.9M | 336.9K | 0.5% |
| $35.8M | 1.9M | 0.4% | |
HORIZON KI | $35.5M | 1.1M | 0.4% |
| $34.1M | 542.6K | 0.4% | |
SAN JUAN B | $33.6M | 7.0M | 0.4% |
ISHARES BI | $30.5M | 793.3K | 0.3% |
| $29.6M | 207.0K | 0.3% | |
WHITE MTNS | $28.8M | 13.1K | 0.3% |
| $26.3M | 151.3K | 0.3% | |
| $24.8M | 957.7K | 0.3% | |
| $24.0M | 157.2K | 0.3% | |
DORCHESTER | $23.3M | 860.2K | 0.3% |
GALAXY DIG | $23.1M | 1.3M | 0.3% |
| $21.3M | 142.5K | 0.2% | |
| $18.2M | 38.0K | 0.2% | |
| $17.9M | 186.7K | 0.2% | |
| $17.4M | 139.3K | 0.2% | |
| $17.0M | 115.8K | 0.2% | |
VANGUARD B | $16.9M | 339.1K | 0.2% |
ROYALTY PH | $16.3M | 340.8K | 0.2% |
| $14.5M | 939.4K | 0.2% | |
TRIPLE FLA | $14.4M | 413.4K | 0.2% |
ROYAL CARI | $14.2M | 51.7K | 0.2% |
| $12.6M | 138.3K | 0.1% | |
| $12.4M | 196.4K | 0.1% | |
| $12.0M | 47.1K | 0.1% | |
| $10.1M | 138.3K | 0.1% | |
| $9.8M | 19.5K | 0.1% | |
| $8.4M | 189.6K | 0.1% | |
SABINE RTY | $8.4M | 111.2K | 0.1% |
| $8.3M | 288.2K | 0.1% | |
| $8.1M | 217.4K | 0.1% | |
| $7.7M | 398.7K | 0.1% | |
| $7.5M | 23.3K | 0.1% | |
NATURAL RE | $7.0M | 57.9K | 0.1% |
| $7.0M | 169.7K | 0.1% | |
| $6.9M | 81.0K | 0.1% | |
| $6.7M | 39.7K | 0.1% | |
LISTED FDS | $6.5M | 72.0K | 0.1% |
| $6.0M | 70.7K | 0.1% | |
VANGUARD S | $5.8M | 98.7K | 0.1% |
| $5.6M | 106.5K | 0.1% | |
EA SERIES | $5.5M | 47.5K | 0.1% |
| $5.4M | 46.3K | 0.1% | |
| $5.4M | 91.9K | 0.1% | |
LISTED FDS | $5.2M | 100.4K | 0.1% |
LISTED FDS | $5.2M | 227.8K | 0.1% |
LISTED FDS | $5.1M | 166.1K | 0.1% |
GRAYSCALE | $5.0M | 1.5M | 0.1% |
| $4.8M | 50.6K | 0.1% | |
| $4.3M | 114.8K | 0.0% | |
| $4.3M | 59.3K | 0.0% | |
CONSENSUS | $4.3M | 164.6K | 0.0% |
| $4.2M | 19.2K | 0.0% | |
| $4.0M | 2.1K | 0.0% | |
| $4.0M | 86.0K | 0.0% | |
| $3.9M | 51.2K | 0.0% | |
| $3.8M | 15.7K | 0.0% | |
COSTAMARE | $3.7M | 221.8K | 0.0% |
| $3.7M | 56.2K | 0.0% | |
| $3.6M | 4.0K | 0.0% | |
| $3.6M | 22.2K | 0.0% | |
| $3.4M | 28.4K | 0.0% | |
NUVEEN AMT | $3.3M | 296.3K | 0.0% |
| $3.3M | 19.7K | 0.0% | |
| $3.2M | 16.9K | 0.0% | |
| $3.2M | 2.2K | 0.0% | |
| $3.2M | 9.2K | 0.0% | |
FERMI INC | $3.1M | 532.4K | 0.0% |
RENN FD IN | $3.0M | 912.1K | 0.0% |
| $2.9M | 4.1K | 0.0% | |
| $2.9M | 37.5K | 0.0% | |
| $2.9M | 14.0K | 0.0% | |
| $2.9M | 104.7K | 0.0% | |
| $2.8M | 258.6K | 0.0% | |
| $2.8M | 11.0K | 0.0% | |
| $2.7M | 44.7K | 0.0% | |
| $2.7M | 42.5K | 0.0% | |
METALLA RT | $2.7M | 404.3K | 0.0% |
LIBERTY ME | $2.7M | 34.1K | 0.0% |
| $2.6M | 39.0K | 0.0% | |
| $2.6M | 6.9K | 0.0% | |
| $2.4M | 168.1K | 0.0% | |
GRAYSCALE | $2.4M | 588.0K | 0.0% |
BAKKT INC | $2.3M | 316.5K | 0.0% |
| $2.3M | 11.9K | 0.0% | |
BLACK STON | $2.3M | 151.2K | 0.0% |
APYX MEDIC | $2.3M | 615.0K | 0.0% |
FITLIFE BR | $2.2M | 154.5K | 0.0% |
BLACKROCK | $2.2M | 208.0K | 0.0% |
| $2.2M | 16.6K | 0.0% | |
| $2.2M | 40.0K | 0.0% | |
| $2.1M | 35.7K | 0.0% | |
| $2.1M | 12.2K | 0.0% | |
| $2.1M | 22.5K | 0.0% | |
| $2.1M | 71.3K | 0.0% | |
| $2.1M | 44.5K | 0.0% | |
| $2.0M | 29.9K | 0.0% | |
| $2.0M | 90.2K | 0.0% | |
ATLANTA BR | $2.0M | 45.9K | 0.0% |
| $1.9M | 69.0K | 0.0% | |
| $1.9M | 18.4K | 0.0% | |
| $1.9M | 269.2K | 0.0% | |
NUVEEN QUA | $1.9M | 162.4K | 0.0% |
| $1.8M | 6.4K | 0.0% | |
| $1.8M | 2.9K | 0.0% | |
| $1.7M | 3.5K | 0.0% | |
| $1.7M | 50.9K | 0.0% | |
| $1.7M | 31.2K | 0.0% | |
| $1.7M | 11.0K | 0.0% | |
| $1.7M | 3.9K | 0.0% | |
| $1.6M | 6.4K | 0.0% | |
| $1.6M | 3.8K | 0.0% | |
| $1.5M | 16.3K | 0.0% | |
ROYCE MICR | $1.5M | 132.8K | 0.0% |
| $1.5M | 22.0K | 0.0% | |
| $1.5M | 6.6K | 0.0% | |
NUVEEN NY | $1.4M | 138.5K | 0.0% |
| $1.4M | 4.7K | 0.0% | |
| $1.4M | 33.3K | 0.0% | |
| $1.4M | 3.9K | 0.0% | |
| $1.3M | 24.4K | 0.0% | |
| $1.3M | 7.0K | 0.0% | |
PIMCO INCO | $1.3M | 191.5K | 0.0% |
| $1.3M | 39.0K | 0.0% | |
GRAYSCALE | $1.3M | 41.0K | 0.0% |
BROOKFIELD | $1.3M | 30.7K | 0.0% |
| $1.3M | 5.2K | 0.0% | |
| $1.3M | 1.4K | 0.0% | |
| $1.2M | 6.0K | 0.0% | |
| $1.2M | 10.3K | 0.0% | |
| $1.2M | 7.0K | 0.0% | |
| $1.2M | 3.8K | 0.0% | |
STAR BULK | $1.2M | 51.8K | 0.0% |
ATLANTA BR | $1.2M | 25.2K | 0.0% |
| $1.2M | 19.0K | 0.0% | |
| $1.1M | 7.0K | 0.0% | |
SEAPORT EN | $1.1M | 52.4K | 0.0% |
| $1.1M | 30.1K | 0.0% | |
PROSHARES | $1.1M | 24.0K | 0.0% |
| $1.1M | 7.6K | 0.0% | |
| $1.1M | 14.0K | 0.0% | |
| $1.1M | 3.4K | 0.0% | |
ASTRAZENEC | $1.0M | 5.3K | 0.0% |
| $982K | 9.6K | 0.0% | |
| $975K | 2.4K | 0.0% | |
| $946K | 12.2K | 0.0% | |
| $945K | 3.3K | 0.0% | |
BLACKROCK | $911K | 83.0K | 0.0% |
NUVEEN FLO | $897K | 119.3K | 0.0% |
PIMCO DYNA | $881K | 51.5K | 0.0% |
| $870K | 3.0K | 0.0% | |
| $869K | 3.6K | 0.0% | |
| $858K | 11.4K | 0.0% | |
| $848K | 7.5K | 0.0% | |
| $844K | 2.4K | 0.0% | |
| $843K | 2.9K | 0.0% | |
BLACKROCK | $841K | 74.5K | 0.0% |
| $826K | 4.4K | 0.0% | |
| $809K | 1.2K | 0.0% | |
| $802K | 16.5K | 0.0% | |
| $801K | 21.6K | 0.0% | |
| $758K | 68.5K | 0.0% | |
BARCLAYS BCall | $758K | 10.1K | 0.0% |
| $755K | 8.6K | 0.0% | |
| $752K | 2.3K | 0.0% | |
ALKERMES P | $746K | 21.1K | 0.0% |
PIMCO INCO | $746K | 93.3K | 0.0% |
| $726K | 5.0K | 0.0% | |
| $718K | 1 | 0.0% | |
| $710K | 5.5K | 0.0% | |
| $703K | 62.3K | 0.0% | |
| $701K | 4.7K | 0.0% | |
| $695K | 6.4K | 0.0% | |
LINDE PLC | $694K | 1.4K | 0.0% |
| $690K | 6.5K | 0.0% | |
SPDR SERIE | $672K | 5.8K | 0.0% |
| $669K | 7.3K | 0.0% | |
| $667K | 5.6K | 0.0% | |
CIRCLE INT | $661K | 6.9K | 0.0% |
BLACKROCK | $653K | 59.3K | 0.0% |
| $630K | 30.5K | 0.0% | |
| $622K | 5.3K | 0.0% | |
COHEN & ST | $603K | 50.0K | 0.0% |
| $598K | 3.1K | 0.0% | |
| $596K | 25.8K | 0.0% | |
| $586K | 5.1K | 0.0% | |
DOUBLELINE | $579K | 53.5K | 0.0% |
SPROTT ASS | $576K | 16.3K | 0.0% |
| $575K | 8.8K | 0.0% | |
| $568K | 2.9K | 0.0% | |
| $564K | 15.3K | 0.0% | |
| $553K | 2.0K | 0.0% | |
| $551K | 756 | 0.0% | |
| $541K | 2.6K | 0.0% | |
| $527K | 623 | 0.0% | |
| $526K | 36.3K | 0.0% | |
| $524K | 2.9K | 0.0% | |
| $522K | 675 | 0.0% | |
| $508K | 50.5K | 0.0% | |
PROSHARES | $502K | 12.0K | 0.0% |
PROSHARES | $497K | 6.2K | 0.0% |
| $486K | 8.6K | 0.0% | |
| $480K | 1.2K | 0.0% | |
| $475K | 8.2K | 0.0% | |
CRISPR THE | $466K | 9.8K | 0.0% |
| $460K | 5.0K | 0.0% | |
| $459K | 1.7K | 0.0% | |
| $458K | 8.7K | 0.0% | |
| $457K | 4.7K | 0.0% | |
| $445K | 9.5K | 0.0% | |
LISTED FDS | $443K | 15.7K | 0.0% |
BARRICK MN | $440K | 10.8K | 0.0% |
| $437K | 10.1K | 0.0% | |
| $427K | 4.9K | 0.0% | |
COSTAMARE | $427K | 27.6K | 0.0% |
| $423K | 1.4K | 0.0% | |
| $423K | 2.0K | 0.0% | |
NEUBERGER | $420K | 41.4K | 0.0% |
BLACKROCK | $409K | 40.5K | 0.0% |
| $402K | 7.8K | 0.0% | |
| $396K | 2.0K | 0.0% | |
| $395K | 1.3K | 0.0% | |
| $392K | 5.0K | 0.0% | |
| $391K | 5.3K | 0.0% | |
NUVEEN TAX | $389K | 24.8K | 0.0% |
| $377K | 7.5K | 0.0% | |
FEDERATED | $373K | 34.2K | 0.0% |
ISHARES TR | $373K | 5.3K | 0.0% |
| $371K | 2.8K | 0.0% | |
LISTED FDS | $361K | 9.0K | 0.0% |
| $347K | 2.1K | 0.0% | |
LIBERTY LI | $337K | 3.6K | 0.0% |
FIDELITY W | $335K | 5.7K | 0.0% |
| $333K | 305 | 0.0% | |
| $331K | 4.4K | 0.0% | |
| $329K | 3.0K | 0.0% | |
| $325K | 568 | 0.0% | |
NUVEEN MUN | $322K | 26.4K | 0.0% |
GRAYSCALE | $314K | 15.2K | 0.0% |
GRAYSCALE | $313K | 71.2K | 0.0% |
| $306K | 507 | 0.0% | |
POWER SOLU | $304K | 5.0K | 0.0% |
| $299K | 1.4K | 0.0% | |
DOUBLELINE | $299K | 20.5K | 0.0% |
| $296K | 922 | 0.0% | |
| $293K | 12.0K | 0.0% | |
| $291K | 28.9K | 0.0% | |
| $286K | 1.8K | 0.0% | |
EATON CORP | $285K | 797 | 0.0% |
| $278K | 899 | 0.0% | |
NUVEEN NY | $278K | 24.9K | 0.0% |
| $266K | 2.9K | 0.0% | |
| $264K | 9.1K | 0.0% | |
| $259K | 4.0K | 0.0% | |
PIMCO NEW | $258K | 37.6K | 0.0% |
| $254K | 3.0K | 0.0% | |
| $253K | 1.5K | 0.0% | |
| $253K | 10.4K | 0.0% | |
| $252K | 1.1K | 0.0% | |
| $247K | 1.2K | 0.0% | |
| $246K | 360 | 0.0% | |
PROSHARES Call | $244K | 6.1K | 0.0% |
| $242K | 1.4K | 0.0% | |
| $235K | 3.2K | 0.0% | |
| $232K | 2.4K | 0.0% | |
| $232K | 2.2K | 0.0% | |
| $228K | 5.5K | 0.0% | |
| $227K | 1.7K | 0.0% | |
| $215K | 438 | 0.0% | |
INVESCO QU | $211K | 22.0K | 0.0% |
EATON VANC | $211K | 20.0K | 0.0% |
LIBERTY LI | $210K | 2.3K | 0.0% |
| $210K | 1.4K | 0.0% | |
| $209K | 8.8K | 0.0% | |
ENERFLEX L | $209K | 10.0K | 0.0% |
| $207K | 208 | 0.0% | |
| $207K | 2.9K | 0.0% | |
| $206K | 4.4K | 0.0% | |
| $204K | 4.1K | 0.0% | |
NUVEEN SEL | $203K | 21.5K | 0.0% |
| $200K | 1.0K | 0.0% | |
BURFORD CA | $177K | 39.1K | 0.0% |
| $176K | 18.0K | 0.0% | |
EATON VANC | $173K | 17.7K | 0.0% |
LISTED FDS | $173K | 5.2K | 0.0% |
| $169K | 13.2K | 0.0% | |
| $164K | 23.7K | 0.0% | |
INVESCO TR | $161K | 14.7K | 0.0% |
NUVEEN AMT | $150K | 12.2K | 0.0% |
PCM FD INC | $140K | 24.5K | 0.0% |
| $139K | 16.3K | 0.0% | |
BROOKFIELD | $138K | 10.8K | 0.0% |
| $137K | 49.2K | 0.0% | |
BLACKROCK | $136K | 12.7K | 0.0% |
| $129K | 12.9K | 0.0% | |
NUVEEN PFD | $124K | 16.4K | 0.0% |
EATON VANC | $117K | 12.4K | 0.0% |
BLACKROCK | $115K | 12.0K | 0.0% |
PIMCO MUN | $114K | 15.1K | 0.0% |
ISHARES TR | $110K | 690 | 0.0% |
EATON VANC | $108K | 21.7K | 0.0% |
NUVEEN MUN | $108K | 10.4K | 0.0% |
NUVEEN MUN | $104K | 11.6K | 0.0% |
| $101K | 13.2K | 0.0% | |
ENERGY TRA | $96K | 8.3K | 0.0% |
GRAYSCALE | $92K | 5.4K | 0.0% |
ISHARES TR | $91K | 3.1K | 0.0% |
MFS HIGH I | $80K | 21.5K | 0.0% |
| $72K | 29.0K | 0.0% | |
| $61K | 13.2K | 0.0% | |
VANECK ETF | $61K | 3.5K | 0.0% |
| $57K | 219 | 0.0% | |
| $46K | 923 | 0.0% | |
| $43K | 17.6K | 0.0% | |
| $40K | 1.3K | 0.0% | |
ISHARES TR | $37K | 338 | 0.0% |
LANTERN PH | $36K | 26.4K | 0.0% |
BITFARMS L | $36K | 18.3K | 0.0% |
| $35K | 160 | 0.0% | |
| $29K | 135 | 0.0% | |
SPDR SERIE | $23K | 250 | 0.0% |
INVESCO EX | $21K | 163 | 0.0% |
VANECK ETF | $15K | 296 | 0.0% |
| $14K | 10.6K | 0.0% | |
GRAYSCALE | $13K | 653 | 0.0% |
| $5K | 57 | 0.0% | |
LISTED FDS | $2K | 155 | — |
GRAYSCALE | $1K | 2.1K | — |
ISHARES TR | $849 | 8 | — |
GRAYSCALE | $549 | 691 | — |
Filing History
| Quarter | Filed | Portfolio Value | Positions | SEC Filing |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $9.2B | 353 | View on EDGAR |
| 2025-12-31 | 2026-02-11 | $7.4B | 324 | View on EDGAR |
| 2025-09-30 | 2025-11-14 | $8.2B | 336 | View on EDGAR |
| 2025-06-30 | 2025-08-12 | $8.4B | 352 | View on EDGAR |
| 2025-03-31 | 2025-05-15 | $8.8B | 347 | View on EDGAR |
| 2024-12-31 | 2025-02-10 | $8.0B | 349 | View on EDGAR |
| 2024-09-30 | 2024-11-13 | $6.7B | 346 | View on EDGAR |
| 2024-06-30 | 2024-08-14 | $5.7B | 324 | View on EDGAR |