Superinvestor · snapshot Q4 2025
Murray Stahl
Horizon Kinetics
valuequality
Owner-operator and hard-assets specialist. Long-duration holds in exchanges, royalty trusts, and Bitcoin-adjacent names.
Prism interpretation
“Owner-operator + hard-asset book — exchanges, royalties, scarcity.”
Concentration profile
Positions
6
Top 1
47%
Top 5
93%
Top 10
100%
Effective N
3.6
Holdings · 6
Curated summaryClick any ticker for the full Prism report.
How this book compares
1 of Murray Stahl's holdings also appear in at least one other tracked portfolio. Cross-held names are flagged above with the +N others mark. The full consensus book is available on the Grand Portfolio page.
Tracked alongside 29 other superinvestors.