Latest news with #MurrayStahl
Yahoo
6 days ago
- Business
- Yahoo
Murray Stahl's Strategic Moves: Hawaiian Electric Industries Inc. Takes Center Stage
Insightful Analysis of Murray Stahl (Trades, Portfolio)'s Second Quarter 2025 13F Filing Warning! GuruFocus has detected 2 Warning Signs with TPL. Murray Stahl (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. Murray Stahl (Trades, Portfolio) is the Chief Executive Officer and Chairman of the Board of Horizon Kinetics, a firm he co-founded. With over thirty years of investing experience, he oversees the firms proprietary research and serves as the Chief Investment Officer. He chairs the Investment Committee, responsible for portfolio management decisions. Additionally, Murray is the Chairman and CEO of FRMO Corp and holds positions on the boards of the Minneapolis Grain Exchange, the Bermuda Stock Exchange, and Texas Pacific Land Corporation. His career began at Bankers Trust Company, where he managed several funds and contributed to asset allocation strategies. Murray holds degrees from Brooklyn College and an MBA from Pace University. Horizon Kinetics LLC is known for its fundamental value, contrarian-oriented investment approach, emphasizing long-term investment horizons to harness the power of compounding. Summary of New Buy Murray Stahl (Trades, Portfolio) added a total of 15 stocks, among them: The most significant addition was Galaxy Digital Inc (NASDAQ:GLXY), with 1,364,267 shares, accounting for 0.35% of the portfolio and a total value of $29,877,450. The second largest addition to the portfolio was Blackrock Munivest Fund Inc (NYSE:MVF), consisting of 93,068 shares, representing approximately 0.01% of the portfolio, with a total value of $612,390. The third largest addition was Horizon Kinetics Japan Owner Operator ETF (NASDAQ:JAPN), with 15,691 shares, accounting for 0.01% of the portfolio and a total value of $439,970. Key Position Increases Murray Stahl (Trades, Portfolio) also increased stakes in a total of 99 stocks, among them: The most notable increase was Hawaiian Electric Industries Inc (NYSE:HE), with an additional 3,624,709 shares, bringing the total to 16,281,709 shares. This adjustment represents a significant 28.64% increase in share count, a 0.46% impact on the current portfolio, with a total value of $173,074,570. The second largest increase was Permian Basin Royalty Trust (NYSE:PBT), with an additional 1,705,498 shares, bringing the total to 5,839,825. This adjustment represents a significant 41.25% increase in share count, with a total value of $72,764,220. Summary of Sold Out Murray Stahl (Trades, Portfolio) completely exited 9 holdings in the second quarter of 2025, as detailed below: iShares Russell 2000 ETF (IWM): Murray Stahl (Trades, Portfolio) sold all 2,960 shares, resulting in a -0.01% impact on the portfolio. The Kraft Heinz Co (NASDAQ:KHC): Murray Stahl (Trades, Portfolio) liquidated all 15,160 shares, causing a -0.01% impact on the portfolio. Key Position Reduces Murray Stahl (Trades, Portfolio) also reduced positions in 146 stocks. The most significant changes include: Reduced Texas Pacific Land Corp (NYSE:TPL) by 17,559 shares, resulting in a -0.49% decrease in shares and a -0.26% impact on the portfolio. The stock traded at an average price of $1,228.21 during the quarter and has returned -36.02% over the past 3 months and -22.33% year-to-date. Reduced CACI International Inc (NYSE:CACI) by 27,980 shares, resulting in a -14.75% reduction in shares and a -0.12% impact on the portfolio. The stock traded at an average price of $441.81 during the quarter and has returned 0.30% over the past 3 months and 18.11% year-to-date. Portfolio Overview At the second quarter of 2025, Murray Stahl (Trades, Portfolio)'s portfolio included 353 stocks. The top holdings included 44.81% in Texas Pacific Land Corp (NYSE:TPL), 14.64% in Grayscale Bitcoin Trust (GBTC), 4.41% in LandBridge Co LLC (NYSE:LB), 3.18% in Wheaton Precious Metals Corp (NYSE:WPM), and 2.05% in Hawaiian Electric Industries Inc (NYSE:HE). The holdings are mainly concentrated in all 11 industries: Energy, Financial Services, Basic Materials, Utilities, Consumer Cyclical, Technology, Industrials, Consumer Defensive, Communication Services, Real Estate, and Healthcare. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus.
Associated Press
11-08-2025
- Business
- Associated Press
Consensus Mining & Seigniorage Corporation ("CMSG" or "the Company") Announces a New Shareholder Call Date of Wednesday, August 13, 2025
Upcoming Shareholder Call WHITE PLAINS, NY / ACCESS Newswire / August 11, 2025 / The upcoming shareholder call with Chief Strategy Officer, Murray Stahl, which was originally scheduled for Thursday, August 14, has been rescheduled to Wednesday, August 13, 2025 at 3:00 p.m. EST. This call marks the successful conclusion of its application process with OTC and FINRA; its common stock is now quoted on the OTCQX under the ticker CMSG. The Company has 2,250,009 shares outstanding, out of 5,000,000 shares authorized. Wednesday, August 13, 2025 at 3pm EST Online Webinar: REGISTER HERE Phone Access: +1 (562) 247-8422 Access Code: 578-432-742 Only online participants can submit questions during the webinar. About CMSG Consensus Mining & Seigniorage Corporation (OTCQX:CMSG) is a cryptocurrency mining company created with strategic partnerships in hosting, repair, and management. This enables CMSG to operate with minimal overhead and enhanced profitability, and with a conservative capital structure that allows for flexible and patient capital allocation. For more information, please visit Investor Relations Contact: [email protected] SOURCE: Consensus Mining & Seigniorage Corporation press release
Business Wire
11-07-2025
- Business
- Business Wire
FRMO Corp. Announces New Board Chairman
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--The FRMO Corp. (the 'Company' or 'FRMO') (OTC Pink: FRMO) Board of Directors ('Board') today accepted the resignation of Murray Stahl as Chairman of the Board, a position he has held since the Company's inception in 2001. Mr. Stahl will continue to serve as Chief Executive Officer of the Company. In connection with Mr. Stahl's resignation, Peter Doyle was appointed as the Chairman of the Board and Rimmy Malhotra as Vice Chairman and Lead Independent director. With Mr. Stahl's resignation, the size of the board is now set to 8. About FRMO Corp. FRMO Corp. invests in and receives revenues based upon consulting and advisory fee interests in the asset management sector. FRMO had 44,022,781 shares of common stock outstanding as of May 31, 2025. For more information, visit our website at Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like 'believe,' 'expect' and 'anticipate' mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, the general economics of the financial industry, our ability to finance growth, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed on our website and on
Miami Herald
14-05-2025
- Business
- Miami Herald
Horizon Kinetics Launches Japan Owner Operator Exchange-Traded Fund (Ticker: JAPN)
NEW YORK CITY, NY / ACCESS Newswire / May 13, 2025 / Horizon Kinetics LLC announced the launch of its sixth exchange-traded fund (ETF), the actively managed Japan Owner Operator ETF(NASDAQ:JAPN). It began trading on the NASDAQ on May 13, 2025. JAPN will be managed in accordance with the long-term, value-oriented, proprietary research-driven philosophy that has defined Horizon's other products for over 30 years. The ETF invests in Japanese companies-specifically, firms operated by individuals who have significant ownership positions in their companies. JAPN aims to provide long-term capital appreciation by investing in the owner-operators who also have a high degree of management skills, specific industry knowledge, deep networks, and a strong commitment to long-term growth. This owner-operator factor is just about the only demonstrated, persistent way to solve the much-studied, never-cured agency and incentive alignment problem in public equities. For those looking to get genuinely Japanese exposure, JAPN offers a way to invest alongside Japanese owner-operators, an entirely distinct return factor that can add functional-not merely semantic-diversification to a conventionally structured portfolio. The portfolio companies primarily do business in Japan, unlike the more global export-oriented firms that comprise popular Japan indexes, which are not really Japanese exposures. "There is a recent development in Japan that the media in America has not picked up on: Japanese owner-entrepreneurs are emerging to break the rigid boundaries of their cultural norms," says Murray Stahl, the Founder, CEO, and Chief Investment Officer at Horizon Kinetics-and one of JAPN's three portfolio managers, along with colleagues Aya Weissman and Utako Kojima. "This group is naturally incentivized to deliver a high return on equity, which can often have predictive potential for superior shareholder return." "In every market, there are swathes of inefficiency," says Weissman. "Sometimes it is information- and analysis-based. Often it is the liquidity divide between large multinationals and firms of insufficient size to interest indexation and large-scale investors. There are almost 4,000 listed companies in Japan, and only the smallest fraction-primarily multinationals-make it to the major indexes; this is the thumbnail picture of the Japan-top-heaviness conundrum. We see a significant investment opportunity under the hood." "We have been closely following value investment opportunities in Japan for more than two decades," adds Kojima. "One of the problems in Japan is that companies are too conservative with their balance sheet assets, meaning they have too much cash-and not enough new product development, new investment activity, or capital investment, at least not enough to make the economy grow as the policy makers feel it should. But we have identified some notable exceptions." For more information about JAPN, please visit About Horizon Kinetics LLC Horizon Kinetics LLC is the parent holding company of one SEC-registered investment advisory subsidiary (Horizon Kinetics Asset Management LLC) and two limited-purpose broker dealers (Kinetics Funds Distributor, LLC and KBD Securities, LLC, which are SEC-registered and members of FINRA). Horizon Kinetics LLC is a wholly owned subsidiary of an OTC Pink-listed parent company, Horizon Kinetics Holding Corporation (Ticker: HKHC). Horizon Kinetics is an owner-operated investment boutique that adheres to a research-driven, long-term, contrarian, fundamental value investment philosophy that the founders established more than 30 years ago at Bankers Trust Company. Horizon Kinetics has over 80 employees and has primary offices in New York City and White Plains, New York. For more information about Horizon Kinetics, visit Please consider carefully a fund's investment objectives, risks, charges and expenses. For this and other important information, obtain a statutory prospectus and summary prospectus by contacting 646-495-7333. Read it carefully before investing. Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund's investments in securities linked to real assets involve significant risks, including financial, operating, and competitive risks. Investments in securities linked to real assets expose the Fund to potentially adverse macroeconomic conditions, such as a rise in interest rates or a downturn in the economy in which the asset is located. The Fund is non‐diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. Risks Related to Investing in Japan. Japan's economy has historically lagged that of its Asian neighbors and other major developed economies due in part of to economic, political and social conditions. Japan's economic growth is heavily dependent on international trade, government support of the financial services sector and other troubled sectors, as well as governmental policy supporting its export market. However, slowdowns in the economies of key trading partners, such as the U.S. and China, leading to decreased demand from these countries, new trade regulations, and changes in exchange rates may also have an adverse impact on the economy of Japan. Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. The Fund may invest in the securities of smaller and mid‐capitalization companies, which may be more volatile than funds that invest in larger, more established companies. The fund is actively managed and may be affected by the investment adviser's security selections. Diversification does not assure a profit or protect against a loss in a declining market. HKAM does not provide tax or legal advice, all investors are encouraged to consult their tax and legal advisors regarding an investment in the Fund. You may obtain additional information about HKAM at our website at No part of this material may be copied, photocopied, or duplicated in any form, by any means, or redistributed without the express written consent of HKAM. The Horizon Kinetics Japan Owner Operator ETF (JAPN) is distributed by Foreside Fund Services, LLC ("Foreside"). Foreside is not affiliated with JAPN or Horizon Kinetics LLC or its subsidiaries. SOURCE: Horizon Kinetics Japan Owner Operator ETF
