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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Those of us gathered here happen to know that it’s possible to own land in the public sphere, even though this largest of all physical resources is not even listed as a sector in the equity indexes. That was the...
— Murray Stahl
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Other investors who've written on Texas Pacific Land Corporation
This asset-rich royalty trust operates with virtually no overhead expenses, generating higher profit margins than software giants. Despite internal governance...
Texas Pacific Land Corporation ($TPL) is highlighted as a core example of an asset-light royalty company holding oil and gas exposure without balance sheet leverage.
More institutional theses from Horizon Kinetics
Cboe Global Markets ($CBOE) represents an attractively valued regulated derivatives exchange pursuing near 24/5 U.S. equity trading.
Franco-Nevada Corporation ($FNV) is a premier royalty and streaming company with a diversified portfolio spanning gold, silver, and energy assets. Although Horizon Kinetics...
Amazon.com, Inc. ($AMZN) is a global e-commerce and cloud computing provider whose commercial profile is undergoing a rapid transition toward capital-intensive AI data center infrastructure. Horizon Kinetics maintains...