San Juan Basin Royalty Trust
SJT
88 hedge funds and large institutions have $91.6M invested in San Juan Basin Royalty Trust in 2025 Q3 according to their latest regulatory filings, with 14 funds opening new positions, 19 increasing their positions, 21 reducing their positions, and 11 closing their positions.
231% more call options, than puts
Call options by funds: $2.58M | Put options by funds: $780K
27% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 11
2% more funds holding
Funds holding: 86 → 88 (+2)
2% more capital invested
Capital invested by funds: $90.1M → $91.6M (+$1.56M)
0.23% more ownership
Funds ownership: 32.31% → 32.55% (+0.23%)
10% less repeat investments, than reductions
Existing positions increased: 19 | Existing positions reduced: 21
100% less funds holding in top 10
Funds holding in top 10: 2 → 0 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HKAM
Horizon Kinetics Asset Management
New York
|
+$5.98M |
| 2 |
PAIM
Punch & Associates Investment Management
Edina,
Minnesota
|
+$2.61M |
| 3 |
MC
Moors & Cabot
Boston,
Massachusetts
|
+$1.91M |
| 4 |
FSA
Financial Sense Advisors
San Diego,
California
|
+$822K |
| 5 |
Morgan Stanley
New York
|
+$590K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CC
Cannell Capital
Alta,
Wyoming
|
-$5.99M |
| 2 |
PCM
Prelude Capital Management
New York
|
-$2.37M |
| 3 |
Verition Fund Management
Greenwich,
Connecticut
|
-$1.44M |
| 4 |
RA
RR Advisors
Dallas,
Texas
|
-$664K |
| 5 |
BPA
Beacon Pointe Advisors
Newport Beach,
California
|
-$576K |
SJT Hedge Fund Activity: Q3 2025 in Review
88 of the 7,641 institutional investors tracked by Wall St. Rank reported a position in San Juan Basin Royalty Trust (SJT) for Q3 2025, worth a combined $91.6M — up 1.7% from $90.1M a quarter earlier.
Buyers outnumbered sellers: 14 funds opened new SJT positions and 11 closed out — a net gain of 3 holders — while 19 added to existing stakes and 21 trimmed.
The largest buyer was Horizon Kinetics Asset Management, adding an estimated $5.98M. The largest seller was Cannell Capital, cutting an estimated $5.99M.
- 88 institutional investors held San Juan Basin Royalty Trust (SJT) as of Q3 2025, up from 86 in Q2 2025.
- Funds reported $91.6M of San Juan Basin Royalty Trust stock for Q3 2025, up 1.7% quarter-over-quarter.
- 14 funds opened new San Juan Basin Royalty Trust positions in Q3 2025 and 11 closed out, a net change of +3 holders.
- The largest San Juan Basin Royalty Trust buyer in Q3 2025 was Horizon Kinetics Asset Management, an estimated $5.98M added.
- The largest San Juan Basin Royalty Trust seller in Q3 2025 was Cannell Capital, an estimated $5.99M sold.
Based on aggregated 13F filings for Q3 2025.