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Texas Pacific Land
TPL

102 hedge funds and large institutions have $954M invested in Texas Pacific Land in 2016 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 18 increasing their positions, 29 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 6

20% more capital invested

Capital invested by funds: $795M → $954M (+$159M)

9% more funds holding

Funds holding: 94 → 102 (+8)

0% more funds holding in top 10

Funds holding in top 10: 7 → 7 (0)

6.78% less ownership

Funds ownership: 374.02% → 367.23% (-6.8%)

38% less repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 29

Holders
102
Holders Change
+8
Holders Change %
+8.51%
% of All Funds
2.55%
Holding in Top 10
7
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.17%
New
15
Increased
18
Reduced
29
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
KL
KGH Ltd
Bahamas
+$11.1M
2
HK
Horizon Kinetics
New York
+$7.4M
3
Millennium Management
Millennium Management
New York
+$5.35M
4
Morgan Stanley
Morgan Stanley
New York
+$2.95M
5
Capital World Investors
Capital World Investors
California
+$2.06M

Top Sellers

1
UBS Group
UBS Group
Switzerland
-$17.3M
2
HCM
Hodges Capital Management
Texas
-$15.2M
3
LKIM
Lawson Kroeker Investment Management
Nebraska
-$8.99M
4
APCM
Arbiter Partners Capital Management
New York
-$8.23M
5
PHAM
Pacific Heights Asset Management
California
-$4.23M
Name Holding Trade Value Shares
Change 		Change in
Stake
HK
1
Horizon Kinetics
New York
$507M +$7.4M +236,223 +2%
HCM
2
Hodges Capital Management
Texas
$79M -$15.2M -484,029 -17%
UBS Group
3
UBS Group
Switzerland
$69.2M -$17.3M -552,870 -21%
First Manhattan
4
First Manhattan
New York
$47.6M – – –
PHAM
5
Pacific Heights Asset Management
California
$37.1M -$4.23M -135,000 -11%
APCM
6
Arbiter Partners Capital Management
New York
$35.2M -$8.23M -262,548 -20%
LKIM
7
Lawson Kroeker Investment Management
Nebraska
$23.1M -$8.99M -286,785 -29%
Wells Fargo
8
Wells Fargo
California
$12.4M +$633K +20,214 +6%
MRI
9
Mad River Investors
Massachusetts
$12.3M -$77.5K -2,475 -0.7%
KL
10
KGH Ltd
Bahamas
$11.7M +$11.1M +353,331 New
FDS
11
First Dallas Securities
Texas
$11.5M -$705K -22,500 -6%
SIC
12
Schwartz Investment Counsel
Michigan
$7.17M – – –
US Bancorp
13
US Bancorp
Minnesota
$6.25M -$3.5M -111,600 -37%
Morgan Stanley
14
Morgan Stanley
New York
$6.16M +$2.95M +94,167 +102%
Millennium Management
15
Millennium Management
New York
$5.9M +$5.35M +170,802 +2,109%
California Public Employees Retirement System
16
California Public Employees Retirement System
California
$5.31M -$113K -3,600 -2%
Bank of New York Mellon
17
Bank of New York Mellon
New York
$4.47M -$74.2K -2,367 -2%
Vanguard Group
18
Vanguard Group
Pennsylvania
$4.29M +$740K +23,616 +22%
PGCM
19
Prescott Group Capital Management
Oklahoma
$3.87M +$846K +27,000 +30%
Swiss National Bank
20
Swiss National Bank
Switzerland
$3.83M – – –
PNC Financial Services Group
21
PNC Financial Services Group
Pennsylvania
$3.47M -$41.2K -1,314 -1%
BCM
22
Beddow Capital Management
Wyoming
$3.38M +$182K +5,796 +6%
SGAM
23
Steinberg Global Asset Management
Florida
$3.04M -$233K -7,425 -7%
PC
24
Pecaut & Co
Iowa
$2.99M – – –
CC
25
Cambrian Capital
California
$2.62M – – –
1
2 3 4 5

TPL Hedge Fund Activity: Q4 2016 in Review

102 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Texas Pacific Land (TPL) for Q4 2016, worth a combined $954M — up 20% from $795M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new TPL positions and 6 closed out — a net gain of 9 holders — while 18 added to existing stakes and 29 trimmed.

The largest buyer was KGH Ltd, opening a new position worth an estimated $11.1M. The largest seller was UBS Group, cutting an estimated $17.3M.

  • 102 institutional investors held Texas Pacific Land (TPL) as of Q4 2016, up from 94 in Q3 2016.
  • Funds reported $954M of Texas Pacific Land stock for Q4 2016, up 20% quarter-over-quarter.
  • 15 funds opened new Texas Pacific Land positions in Q4 2016 and 6 closed out, a net change of +9 holders.
  • The largest Texas Pacific Land buyer in Q4 2016 was KGH Ltd, an estimated $11.1M added.
  • The largest Texas Pacific Land seller in Q4 2016 was UBS Group, an estimated $17.3M sold.

Based on aggregated 13F filings for Q4 2016.