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Texas Pacific Land
TPL

58 hedge funds and large institutions have $478M invested in Texas Pacific Land in 2014 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 11 increasing their positions, 19 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 8

26% more capital invested

Capital invested by funds: $380M → $478M (+$98M)

25% more funds holding in top 10

Funds holding in top 10: 4 → 5 (+1)

7% more funds holding

Funds holding: 54 → 58 (+4)

8.41% less ownership

Funds ownership: 400.76% → 392.35% (-8.4%)

42% less repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 19

Holders
58
Holders Change
+4
Holders Change %
+7.41%
% of All Funds
1.68%
Holding in Top 10
5
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+25%
% of All Funds
0.14%
New
12
Increased
11
Reduced
19
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
HK
Horizon Kinetics
New York
+$8.33M
2
CC
Cambrian Capital
California
+$1.9M
3
HCM
Hodges Capital Management
Texas
+$1.68M
4
TAM
Third Avenue Management
New York
+$1.05M
5
Citadel Advisors
Citadel Advisors
Florida
+$603K

Top Sellers

1
Select Equity Group
Select Equity Group
New York
-$12.7M
2
FPP
Findlay Park Partners
United Kingdom
-$7.35M
3
U
UBS
Switzerland
-$3.95M
4
Bank of America
Bank of America
North Carolina
-$1.94M
5
Renaissance Technologies
Renaissance Technologies
New York
-$800K
Name Holding Trade Value Shares
Change 		Change in
Stake
CFA
26
CT Financial Advisors
Pennsylvania
$628K +$510K +39,051 New
BGA
27
Belmont Global Advisors
Texas
$583K +$294K +22,500 +125%
HAMF
28
Hatteras Alternative Mutual Funds
North Carolina
$529K +$481K +36,783 New
Bank of America
29
Bank of America
North Carolina
$510K -$1.94M -148,140 -81%
PNC Financial Services Group
30
PNC Financial Services Group
Pennsylvania
$447K – – –
FT
31
Fiduciary Trust
Massachusetts
$440K -$11.8K -900 -3%
MCM
32
Murphy Capital Management
New Jersey
$394K +$359K +27,450 New
TBA
33
Tower Bridge Advisors
Pennsylvania
$389K – – –
CSIC
34
Clifford Swan Investment Counsel
California
$324K – – –
RA
35
Royce & Associates
New York
$317K +$288K +22,050 New
TC
36
TFS Capital
Pennsylvania
$310K -$105K -8,037 -27%
RC
37
RegentAtlantic Capital
New Jersey
$285K – – –
RFC
38
Regions Financial Corp
Alabama
$285K – – –
AG
39
Aperio Group
California
$269K +$244K +18,666 New
KT
40
Kanaly Trust
Texas
$259K – – –
BG
41
Bahl & Gaynor
Ohio
$259K +$235K +18,000 New
LPL Financial
42
LPL Financial
California
$255K -$42K -3,213 -15%
HAIM
43
Hunter Associates Investment Management
Pennsylvania
$246K -$58.8K -4,500 -21%
PA
44
Pinnacle Associates
New York
$246K +$223K +17,100 New
EAM
45
Evanson Asset Management
California
$204K +$185K +14,157 New
Deutsche Bank
46
Deutsche Bank
Germany
$194K -$135K -10,359 -43%
TAM
47
Tocqueville Asset Management
New York
$194K -$58.8K -4,500 -25%
Royal Bank of Canada
48
Royal Bank of Canada
Ontario, Canada
$174K +$95.2K +7,290 +153%
Bank of Montreal
49
Bank of Montreal
Ontario, Canada
$130K – – –
TCOV
50
Trust Company of Vermont
Vermont
$130K – – –
1
2
3

TPL Hedge Fund Activity: Q1 2014 in Review

58 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in Texas Pacific Land (TPL) for Q1 2014, worth a combined $478M — up 26% from $380M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new TPL positions and 8 closed out — a net gain of 4 holders — while 11 added to existing stakes and 19 trimmed.

The largest buyer was Horizon Kinetics, adding an estimated $8.33M. The largest seller was Select Equity Group, cutting an estimated $12.7M.

  • 58 institutional investors held Texas Pacific Land (TPL) as of Q1 2014, up from 54 in Q4 2013.
  • Funds reported $478M of Texas Pacific Land stock for Q1 2014, up 26% quarter-over-quarter.
  • 12 funds opened new Texas Pacific Land positions in Q1 2014 and 8 closed out, a net change of +4 holders.
  • The largest Texas Pacific Land buyer in Q1 2014 was Horizon Kinetics, an estimated $8.33M added.
  • The largest Texas Pacific Land seller in Q1 2014 was Select Equity Group, an estimated $12.7M sold.

Based on aggregated 13F filings for Q1 2014.