MSRH, LLC — 13F Holdings & Portfolio
CIK 2122489 · latest 13F-HR filed 2026-04-06
MSRH, LLC manages $89.6M in 13F-reported U.S. long-equity assets across 28 reported positions as of its 2025-12-31 13F-HR filing. Its largest disclosed positions are TPL (48.16%), GBTC (32.21%), LB (5.13%).
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-04-06
no prior filing cached
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q4 25Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
1 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 99.6%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated Jul 2, 2026.
SUITE 3101
NEW YORK, NY 10005
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| ESTATE OF MURRAY STAHL Control | OWNER since Jul 2026 | 50–75% | Domestic Entity |
| HILL, RAYMOND, ALEXANDER Control | MANAGING MEMBER since Dec 2003 | 10–25% | Individual |
| Albanese, Nicholas, Charles | NON-MANAGING MEMBER since Dec 2025 | 10–25% | Individual |
| DANIELS, SCOTT, DAVID | NON-MANAGING MEMBER since Jan 2015 | 10–25% | Individual |
| FONTANA, VICTOR, JOSEPH | NON-MANAGING MEMBER since Jan 2015 | 10–25% | Individual |
| REICK, TIMOTHY, WILLIAM | NON-MANAGING MEMBER since Jan 2015 | 10–25% | Individual |
Ownership & leadership changes · 5 filings with changes since Mar 28, 2013
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- No longer listedSTAHL, MURRAY · MANAGING MEMBER · 50–75% · control person · listed since Dec 2003
- AddedESTATE OF MURRAY STAHL · OWNER · 50–75% · control person
- AddedAlbanese, Nicholas, Charles · NON-MANAGING MEMBER · 10–25%
- ChangedHILL, RAYMOND, ALEXANDER · title GENERAL PARTNER → MANAGING MEMBER
- ChangedSTAHL, MURRAY · title GENERAL PARTNER → MANAGING MEMBER
- ChangedDANIELS, SCOTT, DAVID · ownership 5–10% → 10–25%
- AddedDANIELS, SCOTT, DAVID · NON-MANAGING MEMBER · 5–10%
- AddedFONTANA, VICTOR, JOSEPH · NON-MANAGING MEMBER · 10–25%
- AddedREICK, TIMOTHY, WILLIAM · NON-MANAGING MEMBER · 10–25%
- ChangedHILL, RAYMOND, ALEXANDER · ownership 50–75% → 10–25%
- ListedHILL, RAYMOND, ALEXANDER · GENERAL PARTNER · 50–75% · control person
- ListedSTAHL, MURRAY · GENERAL PARTNER · 50–75% · control person
MSRH, LLC Holdings (2025-12-31)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | TEXAS PACIFIC LAND CORP | TPL | 88262P102 | $43.1M | 48.16% | 150,230 | SH |
| 2 | Grayscale Bitcoin Trust | GBTC | 389637109 | $28.9M | 32.21% | 422,078 | SH |
| 3 | LANDBRIDGE CO LLC-A | LB | 514952100 | $4.6M | 5.13% | 93,866 | SH |
| 4 | Permian Basin Royalty Trust | PBT | 714236106 | $4.1M | 4.53% | 239,040 | SH |
| 5 | GRAYSCALE BITCOIN MINI TRUST | BTC | 389930207 | $4.0M | 4.46% | 103,200 | SH |
| 6 | Hawaiian Electric Industries Inc | HE | 419870100 | $1.8M | 2.03% | 148,085 | SH |
| 7 | Mesabi Trust | MSB | 590672101 | $1.7M | 1.94% | 45,114 | SH |
| 8 | HOWARD HUGHES HOLDINGS INC | HHH | 44267T102 | $574.3K | 0.64% | 7,200 | SH |
| 9 | WATERBRIDGE INFRASTRUC-CL A | WBI | 940923105 | $250.1K | 0.28% | 12,500 | SH |
| 10 | WHEATON PRECIOUS METALS CORP | WPM | 962879102 | $167.0K | 0.19% | 1,421 | SH |
| 11 | LIBERTY MEDIA CORP-LIB-NEW-A | FWONA | 531229771 | $100.9K | 0.11% | 1,129 | SH |
| 12 | Franco-Nevada Corp | FNV | 351858105 | $97.6K | 0.11% | 471 | SH |
| 13 | Novo Nordisk A/S | NVO | 670100205 | $95.0K | 0.11% | 1,868 | SH |
| 14 | CIVEO CORP | CVEO | 17878Y207 | $27.2K | 0.03% | 1,188 | SH |
| 15 | SEAPORT ENTERTAINMENT GROUP | SEG | 812215200 | $24.8K | 0.03% | 1,254 | SH |
| 16 | BAKKT HOLDINGS INC | BKKT | 05759B305 | $11.5K | 0.01% | 1,147 | SH |
| 17 | ALLIANCE RESOURCE PARTNERS | ARLP | 01877R108 | $6.9K | 0.01% | 296 | SH |
| 18 | ISHARES BITCOIN TRUST | IBIT | 46438F101 | $5.1K | 0.01% | 102 | SH |
| 19 | ATLANTA BRAVES HOLDINGS IN-C | BATRK | 047726302 | $4.6K | 0.01% | 117 | SH |
| 20 | Novagold Resources Inc | NG | 66987E206 | $3.7K | 0.00% | 400 | SH |
| 21 | Tejon Ranch Co | TRC | 879080109 | $1.3K | 0.00% | 81 | SH |
| 22 | iShares Silver Trust | SLV | 46428Q109 | $515 | 0.00% | 8 | SH |
| 23 | TRILOGY METALS INC | TMQ | 89621C105 | $284 | 0.00% | 66 | SH |
| 24 | FERMI INC | FRMI | 314911108 | $114 | 0.00% | 14 | SH |
| 25 | CIRCLE INTERNET GROUP INC | CRCL | 172573107 | $79 | 0.00% | 1 | SH |
| 26 | PLAINS ALL AMER PIPELINE LP | PAA | 726503105 | $36 | 0.00% | 2 | SH |
| 27 | ENERGY TRANSFER LP | ET | 29273V100 | $33 | 0.00% | 2 | SH |
| 28 | GCI LIBERTY INC - CLASS A | GLIBA | 36164V602 | $0 | 0.00% | 3,360 | SH |
