Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Fund - Horizon Asset Management

Murray Stahl Bio, Returns, Net Worth

Murray Stahl founded Horizon Kinetics, the parent company of Horizon Asset Management, in 1985. Prior to that he spent 16 years at Bankers Trust Company as a senior portfolio manager and research analyst. Murray Stahl holds a B.A. and an M.A. from Brooklyn College and an M.B.A. from Pace University.

Murray Stahl founded Horizon Kinetics, the parent company of Horizon Asset Management, in 1985. Prior to that he spent 16 years at Bankers Trust Company as a senior portfolio manager and research analyst. Murray Stahl holds a B.A. and an M.A. from Brooklyn College and an M.B.A. from Pace University.

Horizon Asset Management LLC, a subsidiary of Horizon Kinetics LLC, is an investment firm that was formed in 2011 by the merger of Horizon Asset Management, Inc. (founded in 1994) and Kinetics Asset Management, Inc. (founded in 1996). Horizon Kinetics adheres to a research-based, long-term contrarian fundamental-value investment philosophy. Murray Stahl, as with many other investment managers, believed that the broader stock market was too focused on short-term results, deciding (not entirely inaccurately) that as professional investors they would need to deliver attractive returns each year, quarter, and even month. Stahl in turn thought that an investor could capture a good deal of value merely by following a longer time horizon. Even though pure value investing has become more challenging, in the sense that it is easier for investors to compare valuation to financial metrics such as book value (and therefore reduced the number of companies trading at discounts to book), Horizon and Kinetics believe that they can continue to realize good returns merely by looking out further.

Show More
Murray Stahl
Fund Profile
Filing Period:
Fund Name: Horizon Asset Management
Manager Murray Stahl
Portfolio Value $3,572,701,000
Change This QTR +99.00%
Fund Holdings Sector Distribution
Filing Period:
Last update:
No. Security Ticker Shares Value (x$1000) Activity % Port
1. TPL 1,683,116 $402,820 11.27%
2. HHC 3,396,994 $388,956 10.88%
3. IEP 3,290,865 $166,353 4.65%
4. STRZA 4,775,832 $159,561 4.46%
5. STRZA 4,657,004 $145,253 4.06%
News, Interviews and Investor Letters