Warren Buffett 29 Bill Ackman 11 Charlie Munger 4 MB Michael Burry Q3 2025 Carl Icahn 12 JG Joel Greenblatt 1791 Seth Klarman 23 Howard Marks 54 DE David Einhorn Q4 2023 David Tepper 27 SD Stanley Druckenmiller 90 DL Dan Loeb 39 MP Mohnish Pabrai 4 LL Li Lu 8 Prem Watsa 32 CC Chase Coleman 46 PL Philippe Laffont 66 Cliff Asness 3896 MG Mario Gabelli 916 BM Bill Miller 56 TG Tom Gayner 130 CA Chuck Akre 19 RB Ron Baron 345 BN Bill Nygren 161 John Rogers 106 SM Stephen Mandel 34 AH Andreas Halvorsen 90 LA Lee Ainslie 177 Tom Steyer 85 JE Jean-Marie Eveillard 424 BB Bruce Berkowitz 13 TB Tweedy, Browne 91 D& Dodge & Cox 222 MH Mason Hawkins 47 DA David Abrams 11 MM Mason Morfit 18 BR Barry Rosenstein 10 MW Marty Whitman 55 SB Sardar Biglari 12 RP Richard Pzena 161 PM PRIMECAP Management 324 HC Hersh Cohen 698 BC Boykin Curry 56 CB Charles Brandes 193 RD Ric Dillon 186 MS Murray Stahl 351 EW Ed Wachenheim 28 DY Donald Yacktman 74 SR Steven Romick 72 AW Andrew Wellington 41 RC Ruane, Cunniff & Goldfarb 54 DS Donald Smith 66 LR Larry Robbins 44 BS Bill Smead 32 GG Glenn Greenberg 40 MM Mark Massey 8 AR Andrew Redleaf 487 CF C.T. Fitzpatrick 36 FR Francois Rochon 51 WN Will Nasgovitz 244 DI David Iben 30 EM Eric Marshall 223 WW Wallace Weitz 50 SS Sean Stannard-Stockton Q3 2024 JP Jay Petschek 164 TK Thomas Kahn 48 RR Robert Robotti 61 CD Charles de Vaulx Q4 2020 DR David Rolfe 18 AW Adam Wyden 8 GW Glenn Welling 9 LP Larry Pitkowsky 24 BL Bryan Lawrence 9 FC Francis Chou 31 AR Alex Roepers 12 MB Mark Boyar 77 Warren Lichtenstein 9 JR James Roumell Q2 2024 RO Robert Olstein 1 TB Tom Bancroft 1
MS
Murray Stahl
Horizon Kinetics LLC
Portfolio value
$8,819,643,675
Stocks
351
Period
Q2 2026
Filed
11 Aug 2026
Holdings Activity HistoryPRO Analytics Across all investors →

Contrarian value in ignored and illiquid asset classes.

✦

Cut Digitalbridge Group Inc 98.7%, added 1750% to Tradeweb Markets Inc-Class A and opened 17 new positions, the largest WHK at 0.5%. Energy is still the biggest weight in the book at 57.6%. The top five names are 67% of it.

Added to
57
New positions
17
Reduced
153
Action Ticker Shares Δ Position Value % Portfolio
REDUCE TPL -212,480 $4,290,140,539 48.64%
REDUCE GBTC -1,864,892 $552,612,345 6.27%
ADD MIAX +4,390,624 $291,415,166 3.30%
ADD WBI +308,090 $262,173,624 2.97%
REDUCE WPM -74,616 $189,472,941 2.15%
ADD PBT +349,597 $168,501,395 1.91%
ADD FNV +16,121 $161,211,339 1.83%
ADD BTC +3,063,577 $157,464,419 1.78%
ADD CBOE +4,568 $100,619,170 1.14%
REDUCE LNG -18,288 $96,091,651 1.09%
ADD MSB +78,410 $81,450,362 0.92%
REDUCE CVEO -61,362 $80,184,685 0.91%
REDUCE CACI -905 $71,222,982 0.81%
ADD CCJ +45,916 $71,071,860 0.81%
REDUCE VNOM -10,516 $70,050,092 0.79%
ADD BN +15,403 $67,604,752 0.77%
ADD CME +13,521 $62,665,802 0.71%
ADD OR +161,655 $60,596,710 0.69%
NEW WHK +1,552,705 $43,196,253 0.49%
REDUCE AN -12,136 $39,557,879 0.45%
ADD TRC +109,083 $37,618,578 0.43%
NEW EROK +1,684,213 $35,789,526 0.41%
REDUCE GLXY -14,918 $33,793,634 0.38%
REDUCE BG -52,865 $30,319,709 0.34%
ADD IBIT +43,965 $27,873,983 0.32%
ADD SII +25,220 $26,089,617 0.30%
REDUCE PAG -3,440 $24,886,039 0.28%
ADD RBA +24,618 $24,611,565 0.28%
ADD SJT +515,179 $24,055,803 0.27%
REDUCE MRSH -11,358 $23,330,982 0.27%
REDUCE DMLP -7,575 $21,529,436 0.24%
ADD RPRX +4,078 $19,336,349 0.22%
REDUCE BRK/B -802 $18,630,020 0.21%
REDUCE IPAR -8,000 $14,579,087 0.17%
REDUCE OSK -26,973 $13,631,538 0.15%
REDUCE RCL -12,284 $12,515,072 0.14%
REDUCE CCL -529,313 $12,237,676 0.14%
REDUCE MSTR -9,479 $11,281,254 0.13%
ADD TW +92,457 $9,740,768 0.11%
REDUCE MSGS -126 $9,331,127 0.11%
REDUCE RGLD -1,074 $9,195,573 0.10%
REDUCE MA -1,835 $9,080,727 0.10%
REDUCE BAM -272 $8,490,083 0.10%
ADD SBR +646 $8,183,445 0.09%
ADD ET +5,579 $7,729,959 0.09%
REDUCE SPHR -1,595 $7,727,001 0.09%
ADD FRMI +291,801 $7,549,923 0.09%
ADD WES +2,483 $7,536,654 0.09%
REDUCE FWONK -4,872 $7,241,867 0.08%
REDUCE SPAQ -413 $6,699,593 0.08%
REDUCE LBRT -53,416 $6,149,569 0.07%
ADD KLAC +17,697 $5,990,452 0.07%
ADD NRP +3,080 $5,912,247 0.07%
REDUCE FCX -2,300 $5,633,749 0.06%
ADD SAIC +426 $5,631,683 0.06%
ADD NDAQ +228 $5,591,017 0.06%
ADD JAPN +17,207 $5,509,420 0.06%
ADD BCDF +13,891 $5,362,291 0.06%
REDUCE XOM -1,655 $5,200,419 0.06%
REDUCE ABBV -322 $4,752,725 0.05%
REDUCE LLY -141 $4,586,620 0.05%
REDUCE INFL -9,395 $4,536,955 0.05%
REDUCE VGSH -25,816 $4,244,642 0.05%
REDUCE CAT -186 $4,186,122 0.05%
REDUCE EPD -2,487 $4,129,361 0.05%
REDUCE MKL -38 $4,031,093 0.05%
REDUCE CSCO -3,225 $4,024,884 0.05%
REDUCE HHH -140,910 $3,967,695 0.04%
REDUCE JNJ -201 $3,938,631 0.04%
REDUCE MRK -232 $3,617,401 0.04%
REDUCE PM -110 $3,550,178 0.04%
REDUCE VRT -510 $3,520,632 0.04%
REDUCE NTR -697 $3,180,690 0.04%
ADD CMRE +500 $3,117,347 0.04%
REDUCE XNEAX -42,260 $2,982,500 0.03%
REDUCE BR -470 $2,972,637 0.03%
REDUCE OPLN -313 $2,929,277 0.03%
NEW CTRI +96,043 $2,904,340 0.03%
ADD BCHG +462,821 $2,889,992 0.03%
ADD ARLP +15,742 $2,888,415 0.03%
REDUCE MSGE -690 $2,834,466 0.03%
ADD RCG +16,954 $2,778,135 0.03%
REDUCE TD -50 $2,726,104 0.03%
REDUCE FWONA -3,756 $2,655,613 0.03%
REDUCE APYX -30,000 $2,626,650 0.03%
ADD LTCN +249,155 $2,586,766 0.03%
REDUCE MSFT -30 $2,571,569 0.03%
REDUCE BMY -154 $2,567,086 0.03%
REDUCE EXP -6,181 $2,404,000 0.03%
REDUCE GE -64 $2,374,680 0.03%
REDUCE BATRK -490 $2,358,388 0.03%
ADD PAA +15,115 $2,344,512 0.03%
REDUCE CVX -218 $2,287,488 0.03%
REDUCE IRM -560 $2,254,002 0.03%
REDUCE EQT -1,251 $2,194,314 0.03%
REDUCE ADM -30,670 $2,188,230 0.03%
REDUCE BKKT -36,574 $2,186,515 0.03%
ADD FNF +793 $2,134,980 0.02%
ADD RMT +1,930 $1,972,564 0.02%
ADD SON +2,200 $1,883,781 0.02%
ADD LVS +100 $1,852,542 0.02%
NEW AMRZ +34,573 $1,842,741 0.02%
REDUCE AAPL -104 $1,829,702 0.02%
REDUCE VOO -345 $1,785,019 0.02%
ADD PFE +712 $1,677,461 0.02%
REDUCE GEV -16 $1,671,826 0.02%
REDUCE NVS -403 $1,659,351 0.02%
REDUCE CRL -5,089 $1,610,889 0.02%
ADD REZI +500 $1,598,416 0.02%
REDUCE FTLF -9,456 $1,596,450 0.02%
REDUCE SLV -90 $1,591,535 0.02%
REDUCE RIO -70 $1,540,334 0.02%
REDUCE MYI -71,456 $1,516,937 0.02%
REDUCE ADI -135 $1,440,306 0.02%
REDUCE NVDA -90 $1,384,623 0.02%
REDUCE GLD -213 $1,344,587 0.01%
ADD SBLK +296 $1,300,092 0.01%
REDUCE NAD -56,594 $1,282,651 0.01%
REDUCE GSK -373 $1,260,491 0.01%
REDUCE KMI -670 $1,224,835 0.01%
REDUCE VXF -1,114 $1,214,285 0.01%
REDUCE SPGI -780 $1,209,721 0.01%
REDUCE SEG -9,937 $1,130,580 0.01%
REDUCE GOOG -180 $1,100,623 0.01%
REDUCE ALKS -967 $1,054,816 0.01%
NEW RDW +84,100 $1,028,543 0.01%
REDUCE GOOGL -104 $1,011,000 0.01%
REDUCE IBM -15 $1,003,920 0.01%
ADD NSC +50 $969,881 0.01%
REDUCE MQY -636 $955,202 0.01%
REDUCE AZN -241 $950,944 0.01%
REDUCE EOG -276 $945,861 0.01%
REDUCE JFR -858 $908,512 0.01%
REDUCE WEN -160,374 $901,977 0.01%
REDUCE BAC -725 $896,580 0.01%
ADD ABT +150 $881,630 0.01%
REDUCE IONS -524 $864,578 0.01%
REDUCE HUBB -1,897 $855,432 0.01%
ADD BAH +75 $853,688 0.01%
REDUCE PDI -440 $852,351 0.01%
REDUCE SPY -103 $852,065 0.01%
NEW KMB +7,636 $838,204 0.01%
REDUCE AMGN -99 $832,876 0.01%
REDUCE SAN -2,000 $832,278 0.01%
REDUCE ELS -7,105 $763,733 0.01%
REDUCE GIS -8,430 $753,768 0.01%
REDUCE SIRI -612 $744,290 0.01%
REDUCE HON -3,290 $735,735 0.01%
NEW HONA +3,286 $726,469 0.01%
ADD UNH +50 $725,274 0.01%
REDUCE AEHR -14,320 $699,317 0.01%
ADD RSP +13 $666,252 0.01%
REDUCE ALNY -104 $652,633 0.01%
REDUCE GS -25 $604,799 0.01%
REDUCE BIIB -131 $588,980 0.01%
ADD META +396 $542,971 0.01%
REDUCE PCYO -5 $541,133 0.01%
REDUCE DSL -7,309 $510,452 0.01%
REDUCE CRSP -443 $510,113 0.01%
REDUCE BWXT -84 $498,888 0.01%
REDUCE STZ -1,098 $497,247 0.01%
ADD TEXX +1,362 $491,918 0.01%
REDUCE XES -1,470 $482,504 0.01%
NEW UPS +4,460 $479,450 0.01%
ADD ZCSH +2,710 $479,264 0.01%
ADD CRCL +704 $478,243 0.01%
ADD LEN +370 $478,147 0.01%
REDUCE MDLZ -92 $471,512 0.01%
REDUCE FHI -150 $464,897 0.01%
REDUCE KRP -4,873 $457,212 0.01%
REDUCE MMM -2,300 $437,157 0.01%
REDUCE EBAY -3,544 $424,985 0.01%
REDUCE CNP -477 $424,590 0.01%
REDUCE GWW -3 $410,841 0.01%
REDUCE BTZ -834 $405,734 0.01%
REDUCE OXY -519 $404,637 0.01%
REDUCE REGN -30 $402,183 0.01%
ADD B +21 $397,361 0.01%
REDUCE MHD -41,316 $395,247 0.00%
REDUCE RYN -12,362 $386,743 0.00%
REDUCE NBB -863 $378,357 0.00%
REDUCE GBX -1,000 $377,377 0.00%
ADD FIS +5,300 $377,136 0.00%
REDUCE CRAI -4,375 $372,846 0.00%
REDUCE MOD -50 $355,137 0.00%
REDUCE BP -200 $342,379 0.00%
ADD VZ +555 $341,514 0.00%
REDUCE NVIR -200 $339,760 0.00%
REDUCE LLYVK -390 $336,569 0.00%
REDUCE WOOD -345 $325,588 0.00%
ADD PSIX +3,300 $322,787 0.00%
REDUCE FANG -168 $322,381 0.00%
REDUCE AJG -599 $310,838 0.00%
REDUCE JPM -542 $293,288 0.00%
REDUCE BEAM -403 $287,876 0.00%
REDUCE ETCG -10 $274,051 0.00%
REDUCE DBL -1,424 $273,896 0.00%
REDUCE AVGO -177 $272,736 0.00%
REDUCE COP -196 $271,855 0.00%
REDUCE L -4,069 $270,685 0.00%
NEW ENB +4,777 $258,961 0.00%
REDUCE AMZN -106 $257,645 0.00%
ADD MKTX +152 $255,806 0.00%
REDUCE CTAS -17 $251,718 0.00%
NEW DORM +1,800 $245,610 0.00%
REDUCE WY -274 $241,339 0.00%
REDUCE GALT -2,258 $217,932 0.00%
REDUCE LLYVA -161 $216,089 0.00%
REDUCE NTLA -604 $212,921 0.00%
REDUCE NRG -9 $208,282 0.00%
NEW WTTR +10,000 $199,800 0.00%
REDUCE DBRG -927,029 $194,899 0.00%
REDUCE REPL -604 $139,305 0.00%
REDUCE VNDA -1,088 $138,606 0.00%
ADD NMZ +756 $117,591 0.00%
REDUCE HLN -466 $116,009 0.00%
NEW KEEL +18,300 $105,042 0.00%
REDUCE LTRN -1,209 $104,934 0.00%
NEW MFM +17,412 $97,855 0.00%
REDUCE EDIT -1,330 $89,683 0.00%
REDUCE BCYC -604 $53,356 0.00%
REDUCE ALLO -806 $34,894 0.00%
NEW ENFR +465 $17,717 0.00%
REDUCE PACB -483 $16,914 0.00%
NEW MUB +50 $5,381 0.00%
NEW XMMO +30 $5,104 0.00%
NEW RQI-R +50,033 $745 0.00%