San Juan Basin Royalty Trust
SJT
86 hedge funds and large institutions have $90.1M invested in San Juan Basin Royalty Trust in 2025 Q2 according to their latest regulatory filings, with 16 funds opening new positions, 19 increasing their positions, 22 reducing their positions, and 15 closing their positions.
188% more call options, than puts
Call options by funds: $3.19M | Put options by funds: $1.11M
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
24% more capital invested
Capital invested by funds: $72.7M → $90.1M (+$17.4M)
4.02% more ownership
Funds ownership: 28.3% → 32.31% (+4%)
7% more first-time investments, than exits
New positions opened: 16 | Existing positions closed: 15
0% more funds holding
Funds holding: 86 → 86 (0)
14% less repeat investments, than reductions
Existing positions increased: 19 | Existing positions reduced: 22
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HKAM
Horizon Kinetics Asset Management
New York
|
+$12.9M |
| 2 |
Verition Fund Management
Greenwich,
Connecticut
|
+$2.46M |
| 3 |
LPL Financial
San Diego,
California
|
+$2.37M |
| 4 |
MC
Moors & Cabot
Boston,
Massachusetts
|
+$1.35M |
| 5 |
KWA
Kingswood Wealth Advisors
San Diego,
California
|
+$1.26M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CC
Cannell Capital
Alta,
Wyoming
|
-$4.94M |
| 2 |
PCM
Prelude Capital Management
New York
|
-$1.67M |
| 3 |
PP
Pingora Partners
Wilson,
Wyoming
|
-$1.27M |
| 4 |
BFM
Boothbay Fund Management
New York
|
-$844K |
| 5 |
FSA
Financial Sense Advisors
San Diego,
California
|
-$802K |
SJT Hedge Fund Activity: Q2 2025 in Review
86 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in San Juan Basin Royalty Trust (SJT) for Q2 2025, worth a combined $90.1M — up 24% from $72.7M a quarter earlier.
Buyers outnumbered sellers: 16 funds opened new SJT positions and 15 closed out — a net gain of 1 holder — while 19 added to existing stakes and 22 trimmed.
The largest buyer was Horizon Kinetics Asset Management, adding an estimated $12.9M. The largest seller was Cannell Capital, cutting an estimated $4.94M.
- 86 institutional investors held San Juan Basin Royalty Trust (SJT) as of Q2 2025, unchanged from Q1 2025.
- Funds reported $90.1M of San Juan Basin Royalty Trust stock for Q2 2025, up 24% quarter-over-quarter.
- 16 funds opened new San Juan Basin Royalty Trust positions in Q2 2025 and 15 closed out, a net change of +1 holder.
- The largest San Juan Basin Royalty Trust buyer in Q2 2025 was Horizon Kinetics Asset Management, an estimated $12.9M added.
- The largest San Juan Basin Royalty Trust seller in Q2 2025 was Cannell Capital, an estimated $4.94M sold.
Based on aggregated 13F filings for Q2 2025.