Hedge Fund - Horizon Asset Management

Murray Stahl Bio, Returns, AUM, Net Worth

Horizon Asset Management LLP is an alternative asset management firm with offices in both London and Hong Kong. Specializing in serving institutional investors, the company employs a non-market directional equities investment strategy to manage assets effectively.

Murray Stahl is the Chief Executive Officer and Chairman of the Board at Horizon Kinetics, where he co-founded the firm and brings over thirty years of extensive investment expertise. In his role, Murray oversees the firm’s proprietary research and serves as the Chief Investment Officer, leading the Investment Committee responsible for portfolio management decisions across all sectors. He also serves as Co-Portfolio Manager for numerous registered investment companies, private funds, and institutional separate accounts. Beyond his role at Horizon Kinetics, Murray holds the positions of Chairman and Chief Executive Officer at FRMO Corp. He contributes as a member of the Board of Directors for the Minneapolis Grain Exchange, the Bermuda Stock Exchange, and Texas Pacific Land Corporation. Prior to co-founding Horizon Kinetics, Murray spent sixteen years at Bankers Trust Company from 1978 to 1994, where he served as a senior portfolio manager and research analyst. During his tenure, he managed the Utility Mutual Fund and played a pivotal role in overseeing Bankers Trust's Common Trust Funds, including the Special Opportunity Fund, the Utility Fund, and the Tangible Assets Fund. Murray was also a key member of the Equity Strategy Group and the Investment Strategy Group, which formulated asset allocation strategies for the Private Bank. Murray’s academic achievements include a Bachelor of Arts in 1976 and a Master of Arts in 1980 from Brooklyn College, as well as an MBA from Pace University in 1985.

Horizon Asset Management is a distinguished registered investment advisory firm. In their latest 13F filing for Q1 2024, they disclosed managing $5,288,620,906 in 13F securities, with a significant top 10 holdings concentration of 73.65%. Their largest holding is TX Pacific Land Trust, with 3,776,383 shares held.

Murray Stahl
Fund Profile
Filing Period:
Fund Name: Horizon Asset Management
Manager Murray Stahl
Portfolio Value $5,288,620,906
Change This QTR +1.11%
Filing Period:
Last update:
No. Security Ticker Shares Value Activity % Port History
1. TPL 3,776,383 $2,184,675,089 -69% 41.3%
Grayscale Bitcoin Trust (Btc)
14,974,187 $945,919,393 -5% 17.88%
3. CACI 371,135 $140,597,072 -6% 2.65%
4. WPM 2,684,991 $126,543,603 -9% 2.39%
5. FNV 897,349 $106,928,058 +3% 2.02%
News, Interviews and Investor Letters