Dark Forest Capital Management’s Texas Pacific Land TPL Stock Holding History

Dark Forest Capital Management’s Portfolio TPL Stock Details TPL Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-1,803	Closed	-$561K	–	1351
2025 Q3	$561K	Buy	+1,803	New	+$568K	0.02%	897
2024 Q2	–	Sell	-16,623	Closed	-$3.21M	–	897
2024 Q1	$3.21M	Buy	16,623 +90	+0.5%	+$15.4K	0.54%	25
2023 Q4	$2.89M	Buy	16,533 +8,406	+103%	+$1.6M	0.43%	41
2023 Q3	$1.65M	Sell	8,127 -9,099	-53%	-$1.72M	0.13%	204
2023 Q2	$2.52M	Buy	+17,226	New	+$2.76M	0.23%	45
2022 Q3	–	Sell	-99	Closed	-$16K	–	1437
2022 Q2	$16K	Sell	99 -3,159	-97%	-$517K	﹤0.01%	488
2022 Q1	$489K	Buy	+3,258	New	+$429K	0.11%	219

Other funds holding TPL

HKAM

Horizon Kinetics Asset Management New York $9.23B AUM 27.52% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return

SoftVest Advisors Abilene, Texas $872M AUM 28.76% 1-Year Est. Return

First Manhattan New York $36.1B AUM 11.5% 1-Year Est. Return

Invesco Atlanta, Georgia $1.02T AUM 30.18% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

PHAM

Pacific Heights Asset Management San Francisco, California $2.99B AUM 52.5% 1-Year Est. Return

Dark Forest Capital Management's TPL Position: Q4 2025 in Review

Dark Forest Capital Management sold out of Texas Pacific Land (TPL) in Q4 2025, closing a stake of 1,803 shares — an estimated $561K sold.

Dark Forest Capital Management first reported a position in TPL in Q1 2022 and held it in 7 quarters. The position peaked at $3.21M in Q1 2024. 731 funds tracked by Wall St. Rank hold TPL as of Q4 2025.

Dark Forest Capital Management reported no remaining Texas Pacific Land position as of Q4 2025 after selling out during the quarter.
Dark Forest Capital Management sold 1,803 Texas Pacific Land shares in Q4 2025, an estimated $561K.
Dark Forest Capital Management first reported a position in Texas Pacific Land in Q1 2022 and held it in 7 quarters.
Dark Forest Capital Management's Texas Pacific Land position peaked at $3.21M in Q1 2024.
731 funds tracked by Wall St. Rank held Texas Pacific Land as of Q4 2025.

Based on Dark Forest Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.