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SJT

San Juan Basin Royalty Trust

89 hedge funds and large institutions have $86.8M invested in San Juan Basin Royalty Trust in 2025 Q4 according to their latest regulatory filings, with 13 funds opening new positions, 25 increasing their positions, 26 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

30% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 10

1% more funds holding

Funds holding: 8889 (+1)

0.61% more ownership

Funds ownership: 32.55%33.15% (+0.61%)

4% less repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 26

5% less capital invested

Capital invested by funds: $91.6M → $86.8M (-$4.78M)

74% less call options, than puts

Call options by funds: $388K | Put options by funds: $1.5M

Holders
89
Holders Change
+1
Holders Change %
+1.14%
% of All Funds
1.08%
Holding in Top 10
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
New
13
Increased
25
Reduced
26
Closed
10
Calls
$388K
Puts
$1.5M
Net Calls
-$1.12M
Net Calls Change
-$2.92M
Name Holding Trade Value Shares
Change
Change in
Stake
HKAM
1
Horizon Kinetics Asset Management
New York
$35M +$3.59M +619,163 +11%
Morgan Stanley
2
Morgan Stanley
New York
$6.5M +$1.34M +231,407 +25%
CC
3
Cannell Capital
Wyoming
$4.7M -$2.19M -377,325 -31%
ATPW
4
Ashton Thomas Private Wealth
Arizona
$4.33M +$767K +132,517 +21%
MC
5
Moors & Cabot
Massachusetts
$4.14M +$746K +128,850 +21%
MPM
6
Mountaineer Partners Management
New York
$4.12M +$77K +13,297 +2%
PAIM
7
Punch & Associates Investment Management
Minnesota
$3.93M +$1.48M +256,299 +58%
PWA
8
Principia Wealth Advisory
Texas
$2.98M -$276K -47,734 -8%
LPL Financial
9
LPL Financial
California
$2.29M -$60.1K -10,379 -2%
Raymond James Financial
10
Raymond James Financial
Florida
$1.95M +$228K +39,380 +13%
LSC
11
Lesa Sroufe & Co
Washington
$1.91M +$2.39K +412 +0.1%
Citadel Advisors
12
Citadel Advisors
Florida
$1.36M +$959K +165,673 +218%
ASN
13
Advisory Services Network
Georgia
$1.34M +$7.41K +1,280 +0.5%
KWA
14
Kingswood Wealth Advisors
California
$1.08M -$1.74M -299,950 -61%
MAA
15
Mraz Amerine & Associates
California
$1.04M
MTC
16
McDaniel Terry & Co
Texas
$957K -$856K -147,788 -46%
PP
17
Pingora Partners
Wyoming
$759K +$412K +71,111 +111%
Susquehanna International Group
18
Susquehanna International Group
Pennsylvania
$529K -$416K -71,776 -43%
XT
19
XTX Topco
Cayman Islands
$459K +$259K +44,696 +121%
Wells Fargo
20
Wells Fargo
California
$420K -$9.35K -1,615 -2%
Royal Bank of Canada
21
Royal Bank of Canada
Ontario, Canada
$387K +$74.1K +12,798 +23%
DIM
22
Delta Investment Management
California
$363K +$24.7K +4,257 +7%
PHS
23
Pekin Hardy Strauss
Illinois
$302K +$224K +38,750 +258%
GSCM
24
Greenfield Seitz Capital Management
Texas
$298K
Creative Planning
25
Creative Planning
Kansas
$297K -$23 -4 -0%

SJT Hedge Fund Activity: Q4 2025 in Review

89 of the 8,226 institutional investors tracked by Wall St. Rank reported a position in San Juan Basin Royalty Trust (SJT) for Q4 2025, worth a combined $86.8M — down 5.2% from $91.6M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new SJT positions and 10 closed out — a net gain of 3 holders — while 25 added to existing stakes and 26 trimmed.

The largest buyer was Horizon Kinetics Asset Management, adding an estimated $3.59M. The largest seller was Cannell Capital, cutting an estimated $2.19M.

  • 89 institutional investors held San Juan Basin Royalty Trust (SJT) as of Q4 2025, up from 88 in Q3 2025.
  • Funds reported $86.8M of San Juan Basin Royalty Trust stock for Q4 2025, down 5.2% quarter-over-quarter.
  • 13 funds opened new San Juan Basin Royalty Trust positions in Q4 2025 and 10 closed out, a net change of +3 holders.
  • The largest San Juan Basin Royalty Trust buyer in Q4 2025 was Horizon Kinetics Asset Management, an estimated $3.59M added.
  • The largest San Juan Basin Royalty Trust seller in Q4 2025 was Cannell Capital, an estimated $2.19M sold.

Based on aggregated 13F filings for Q4 2025.