Institutional ticker directory tracking stock mentions, long/short ideas, and high-conviction pitches extracted from quarterly hedge fund letters.
| Ticker | Company | Sector | Industry | Pitches | Stance |
|---|---|---|---|---|---|
| Fund / Manager | Thesis Excerpt | Stance | Period / Date | Action |
|---|---|---|---|---|
Horizon Kinetics Murray Stahl | “Horizon Kinetics did not categorize TPL as an energy company when we first wrote about it in 1995. The analysis was...” | BULL | Q3 2026 Nov 9, 2026 | View Pitch |
Zelikovic Investments Yoav Zelikovic | “Texas Pacific Land Trust's (TPL) stock has continued to rise in 2026 (45%) after a difficult year in 2025 for all oil related stocks! This company remains very profitable and will continue enjoying royalties from its oil and water reservoirs in Texas. In addition, there is a high probability that data centers will be built on its land, an activity that may generate many million of additional profits per annum in the future. We have owned this stock for over a decade after learning about the company from the legendary investor Murrah Stahl (RIP) who died suddenly this year (he began buying the stock when it traded at around $0.4 (split adjusted) in 1995 today it trades above $400- here is a link to his original research. We intend to hold on to our shares for many more years, along with our other Compounders.” | NEUTRAL | Q2 2026 Aug 3, 2026 | View Pitch |
Horizon Kinetics Murray Stahl | “Texas Pacific Land Corporation ($TPL) is one of the largest private landowners in Texas, holding substantial surface and royalty acreage across the Permian Basin. Horizon Kinetics maintains TPL as a flagship long-term holding, asserting that the market continually misprices the company by viewing it merely as an oil producer rather than a perpetual land bank with multiple layers of embedded royalty cash flow. The financial mechanics center on pure operating margins, lack of capital expenditure obligations, and frictionless compounding. Because TPL incurs zero capital expense to drill wells or construct infrastructure, it captures pure top-line royalty payments from oil, gas, water management, and rights-of-way. Historically, excess cash flows were systematically directed into share repurchases, multiplying the underlying acreage and earnings capacity attributable to each remaining share without incurring corporate debt. Key growth catalysts comprise surface land leasing for high-density power generation and AI data center cooling infrastructure, in addition to expanded Permian water sourcing revenues. Primary risks include severe hydrocarbon price crashes that dampen drilling activity and localized legal or governance disputes.” | BULL | Q2 2026 Jul 1, 2026 | View Pitch |
Zelikovic Investments Yoav Zelikovic | “This asset-rich royalty trust operates with virtually no overhead expenses, generating higher profit margins than software giants. Despite internal governance friction, its prime Permian Basin oil acreage and water rights continue to drive remarkable 30% historical profit growth.” | BULL | Q4 2023 Dec 31, 2023 | View Pitch |
Horizon Kinetics Murray Stahl | “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.” | BULL | Q3 2023 Nov 7, 2023 | View Pitch |
Each excerpt above is the manager's commentary on this ticker specifically. The full letter has the rest of their portfolio thinking, risk discussion, and broader institutional context.