U.S. Markets open in 5 hrs 40 mins
  • S&P Futures

    3,665.75
    -1.50 (-0.04%)
     
  • Dow Futures

    29,847.00
    -21.00 (-0.07%)
     
  • Nasdaq Futures

    12,476.50
    +22.25 (+0.18%)
     
  • Russell 2000 Futures

    1,836.10
    -1.40 (-0.08%)
     
  • Crude Oil

    45.31
    +0.03 (+0.07%)
     
  • Gold

    1,843.50
    +13.30 (+0.73%)
     
  • Silver

    24.27
    +0.19 (+0.81%)
     
  • EUR/USD

    1.2118
    +0.0003 (+0.0242%)
     
  • 10-Yr Bond

    0.9480
    0.0000 (0.00%)
     
  • Vix

    21.11
    +0.34 (+1.64%)
     
  • GBP/USD

    1.3395
    +0.0019 (+0.1433%)
     
  • USD/JPY

    104.3020
    -0.1220 (-0.1168%)
     
  • BTC-USD

    19,373.79
    +424.54 (+2.24%)
     
  • CMC Crypto 200

    379.82
    +14.90 (+4.08%)
     
  • FTSE 100

    6,471.29
    +7.90 (+0.12%)
     
  • Nikkei 225

    26,809.37
    +8.39 (+0.03%)
     

Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions

GuruFocus.com
·4 min read

- By Tiziano Frateschi

Murray Stahl (Trades, Portfolio)'s Horizon Kinetics sold shares of the following stocks during the third quarter, which ended on Sept. 30.


Texas Pacific Land Trust

The firm reduced its stake in Texas Pacific Land Trust (NYSE:TPL) by 3.4%. The trade had an impact of -1.26% on the portfolio.

Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions
Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions

The company, which sells, leases and manages land, has a market cap of $4.45 billion and an enterprise value of $4.14 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 41.87% and return on assets of 35.53% are outperforming 95% of companies in its industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 105.89 is above the industry median of 0.4.

The company's largest guru shareholders are Stahl with 21.18% and Pioneer Investments (Trades, Portfolio) with 0.37% of outstanding shares each.

Icahn Enterprises

The Icahn Enterprises LP (NASDAQ:IEP) position was trimmed by 24.99%, impacting the portfolio by -0.46%.

Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions
Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions

The provider of diversified business services has a market cap of $12 billion and an enterprise value of $17 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of -43.8% and return on assets of -8.17% are underperforming 87% of companies in the conglomerates industry. Its financial strength is rated 4 out of 10. The cash-debt ratio 1.08 is above the industry median of 0.44.

The largest guru shareholder of the company is Carl Icahn (Trades, Portfolio) with 92.03% of outstanding shares, followed by Stahl with 0.34%.

ProShares Trust II

The firm reduced curbed its position in ProShares Trust II (SVXY) by 20.85%. The portfolio was impacted by -0.35%.

Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions
Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions

Wheaton Precious Metals

The firm cut its Wheaton Precious Metals Corp. (NYSE:WPM) holding by 6.55%, impacting the portfolio by -0.31%.

Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions
Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions

The precious metal streaming company has a market cap of $18.47 billion and an enterprise value of $18.75 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 8.03% and return on assets of 6.96% are outperforming 87% of companies in the metals and mining industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 0.43 is below the industry median of 17.19.

The largest guru shareholder of the company is First Eagle Investment (Trades, Portfolio) with 4.08% of outstanding shares, followed by Stahl with 0.61% and Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.58%.

Howard Hughes

The investment firm reduced its Howard Hughes Corp. (NYSE:HHC) position by 12.38%. The trade had an impact of -0.26% on the portfolio.

Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions
Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions

The real estate company has a market cap of $3.88 billion and an enterprise value of $7.32 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of -0.6% and return on assets of -0.24% are underperforming 70% of companies in the real estate industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.2 is below the industry median of 0.27.

The largest guru shareholder of the company is Bill Ackman (Trades, Portfolio) with 19.87% of outstanding shares, followed by Stahl with 1.73%.

Liberty SiriusXM

The investment firm reduced its position in Liberty SiriusXM Group (LSXMK) by 13.98%. The trade had an impact of -0.23% on the portfolio.

Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions
Horizon Kinetics Trims Texas Pacific, Icahn Enterprises Positions

The provider of satellite radio services has a market cap of $16.34 billion and an enterprise value of $32.47 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 2.58% and return on assets of 0.83% are outperforming 59% of companies in the diversified media industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.01 is below the industry median of 0.9.

The largest guru shareholder of the company is Warren Buffett (Trades, Portfolio) with 12.69% of outstanding shares, followed by Seth Klarman (Trades, Portfolio) with 1.71%.

Disclosure: I do not own any stocks mentioned.

Read more here:

  • Tiger Management Cuts Ooma, Exits Crocs?

  • Brave Warrior Trims Alphabet, Facebook Positions

  • Third Avenue Management Cuts Essex Property, Lennar



Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.

This article first appeared on GuruFocus.