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Texas Pacific Land
TPL

119 hedge funds and large institutions have $1.26B invested in Texas Pacific Land in 2017 Q3 according to their latest regulatory filings, with 23 funds opening new positions, 28 increasing their positions, 35 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

130% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 10

38% more capital invested

Capital invested by funds: $916M → $1.26B (+$345M)

33% more funds holding in top 10

Funds holding in top 10: 6 → 8 (+2)

10% more funds holding

Funds holding: 108 → 119 (+11)

0.06% more ownership

Funds ownership: 355.49% → 355.55% (+0.06%)

20% less repeat investments, than reductions

Existing positions increased: 28 | Existing positions reduced: 35

Holders
119
Holders Change
+11
Holders Change %
+10.19%
% of All Funds
2.97%
Holding in Top 10
8
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+33.33%
% of All Funds
0.2%
New
23
Increased
28
Reduced
35
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
HK
Horizon Kinetics
New York
+$15.9M
2
Fidelity Investments
Fidelity Investments
Massachusetts
+$6.62M
3
MRI
Mad River Investors
Massachusetts
+$4.92M
4
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$4.61M
5
LIM
Lagoda Investment Management
New York
+$3.63M

Top Sellers

1
HCM
Hodges Capital Management
Texas
-$11.9M
2
KL
KGH Ltd
Bahamas
-$7.04M
3
Deutsche Bank
Deutsche Bank
Germany
-$5.51M
4
APCM
Arbiter Partners Capital Management
New York
-$5.48M
5
PHAM
Pacific Heights Asset Management
California
-$5.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
PNC Financial Services Group
26
PNC Financial Services Group
Pennsylvania
$4.02M -$606K -15,147 -14%
KCM
27
Kennedy Capital Management
Missouri
$3.96M -$69.5K -1,737 -2%
PC
28
Pecaut & Co
Iowa
$3.95M – – –
ECM
29
EagleClaw Capital Management
Massachusetts
$3.42M +$1.06M +26,460 +53%
State Street
30
State Street
Massachusetts
$3.22M +$136K +3,393 +5%
CC
31
Cambrian Capital
California
$2.69M – – –
RJFSA
32
Raymond James Financial Services Advisors
Florida
$2.57M +$2.29M +57,258 New
APCM
33
Arbiter Partners Capital Management
New York
$2.49M -$5.48M -137,025 -71%
Bank of America
34
Bank of America
North Carolina
$2.44M -$32.4K -810 -1%
BlackRock
35
BlackRock
New York
$2.44M +$486K +12,150 +29%
Northern Trust
36
Northern Trust
Illinois
$2.35M +$1.06M +26,388 +102%
PGCM
37
Prescott Group Capital Management
Oklahoma
$2.3M -$2.64M -66,033 -56%
HCP
38
Holt Capital Partners
Texas
$2.16M -$99K -2,475 -5%
RJA
39
Raymond James & Associates
Florida
$2.15M +$204K +5,103 +12%
MC
40
Moors & Cabot
Massachusetts
$2.05M +$469K +11,718 +34%
Two Sigma Investments
41
Two Sigma Investments
New York
$2.03M +$1.81M +45,225 New
TBA
42
Tower Bridge Advisors
Pennsylvania
$1.82M -$36K -900 -2%
BG
43
Bahl & Gaynor
Ohio
$1.7M -$54K -1,350 -3%
Brown Advisory
44
Brown Advisory
Maryland
$1.47M -$75.6K -1,890 -5%
DRZID
45
DePrince Race & Zollo Inc (DRZ)
Florida
$1.46M -$144K -3,600 -10%
Royal Bank of Canada
46
Royal Bank of Canada
Ontario, Canada
$1.35M -$178K -4,455 -13%
Millennium Management
47
Millennium Management
New York
$1.29M -$4.45M -111,276 -79%
SCP
48
Syntal Capital Partners
Texas
$1.21M – – –
CS
49
Credit Suisse
Switzerland
$1.21M +$327K +8,181 +43%
HAIM
50
Hunter Associates Investment Management
Pennsylvania
$1.17M – – –
1
2
3 4 5

TPL Hedge Fund Activity: Q3 2017 in Review

119 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Texas Pacific Land (TPL) for Q3 2017, worth a combined $1.26B — up 38% from $916M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new TPL positions and 10 closed out — a net gain of 13 holders — while 28 added to existing stakes and 35 trimmed.

The largest buyer was Horizon Kinetics, adding an estimated $15.9M. The largest seller was Hodges Capital Management, cutting an estimated $11.9M.

  • 119 institutional investors held Texas Pacific Land (TPL) as of Q3 2017, up from 108 in Q2 2017.
  • Funds reported $1.26B of Texas Pacific Land stock for Q3 2017, up 38% quarter-over-quarter.
  • 23 funds opened new Texas Pacific Land positions in Q3 2017 and 10 closed out, a net change of +13 holders.
  • The largest Texas Pacific Land buyer in Q3 2017 was Horizon Kinetics, an estimated $15.9M added.
  • The largest Texas Pacific Land seller in Q3 2017 was Hodges Capital Management, an estimated $11.9M sold.

Based on aggregated 13F filings for Q3 2017.