Texas Pacific Land

TPL • NYSE

Texas Pacific Land is a oil & gas exploration & production company in the energy sector on NYSE, led by Tyler Glover, with a market cap of $19.3B. As of Q3 2025, 71% of shares are held by 690 institutional investors, with HORIZON KINETICS ASSET MANAGEMENT LLC as the largest holder at 15.25%.

Chief Executive OfficerTyler Glover

Market Cap$19.3B

Oil & Gas Exploration & Production

Energy

Employees100.0

Websitetexaspacific.com

Country

United States of America

Overview

Overview of institutional ownership in TPL as of Q3 2025 with a market cap of $21.5B

All Institutions

Institutions: 690
Value Held: $15.2B
Shares Held: 16.3M
Avg Position: $22.1M
Median Position: $1.1M

Hedge Funds

Hedge Funds: 36
Value Held: $617.1M
Shares Held: 660.9K
Avg Position: $17.1M
Median Position: $1.9M

Ownership Breakdown

Institutional (non-HF)

68.12%

$14.6B

Hedge Funds

2.88%

$617.1M

Retail & Other

29.0%

$6.2B

Based on market cap of $21.5B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TPL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
HORIZON KINETICS ASSET MANAGEMENT LLC Long Only Manager	Murray Stahl CEO	$3.3B 40.18% of portfolio	15.25% 3.5M shares	Q1 2019 Held for 6y 8m	$8.1B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.4B 0.04% of portfolio	11.23% 2.6M shares	Q4 2015 Held for 9y 11m	$6.69T
B BlackRock, Inc. Institution	-	$1.7B 0.03% of portfolio	7.95% 1.8M shares	Q1 2017 Held for 8y 8m	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.1B 0.04% of portfolio	5.09% 1.2M shares	Q4 2015 Held for 9y 11m	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$539.0M 0.03% of portfolio	2.52% 579.3K shares	Q1 2021 Held for 4y 8m	$1.57T
S SoftVest Advisors, LLC Hedge Fund•Multi-Strategy	Eric Lee Oliver President	$367.5M 76.41% of portfolio	1.71% 393.6K shares	Q4 2019 Held for 5y 11m	$480.9M
FIRST MANHATTAN CO Institution	Zachary A Wydra CEO	$315.3M 0.84% of portfolio	1.47% 337.7K shares	≤ Q2 2013 Held for 12y 5m+	$37.6B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$265.1M 0.04% of portfolio	1.24% 283.9K shares	Q1 2021 Held for 4y 8m	$633.08B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$222.3M 0.01% of portfolio	1.04% 238.1K shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$189.0M 0.02% of portfolio	0.88% 202.4K shares	Q4 2015 Held for 9y 11m	$782.01B

Net Capital Flow

Institutional buying and selling activity for TPL in Q3 2025

Traded: +$20.5M
Buyers: 307
Sellers: 329
Total Bought: +$635.7M
Total Sold: −$615.2M
Avg Position: $19.6M

Biggest Buyers

Institution	Net Bought	Current Position
VANGUARD GROUP INC Institution	+$177.2M +189.8K shares	$2.4B 2.6M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$33.3M +35.7K shares	$84.6M 90.6K shares
BANK OF AMERICA CORP /DE/ Institution	+$29.3M +31.4K shares	$58.6M 62.7K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$29.0M +31.1K shares	$37.6M 40.3K shares
A Advisor Group Holdings, Inc. Institution	+$23.5M +25.2K shares	$29.7M 31.8K shares
T TD ASSET MANAGEMENT INC Institution	+$23.1M +24.7K shares	$112.8M 120.9K shares
STATE STREET CORP Institution	+$20.8M +22.3K shares	$1.1B 1.2M shares
C CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM Institution	+$19.8M +21.2K shares	$77.7M 83.2K shares
Epoch Investment Partners, Inc. Long Only Manager	+$19.5M +20.9K shares	$101.0M 108.1K shares
P PACIFIC HEIGHTS ASSET MANAGEMENT LLC Long Only Manager	+$18.7M +20.0K shares	$172.7M 185.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
HORIZON KINETICS ASSET MANAGEMENT LLC Long Only Manager	−$68.0M −72.8K shares	$3.3B 3.5M shares
MORGAN STANLEY RIA/Wealth	−$41.6M −44.5K shares	$222.3M 238.1K shares
B BlackRock, Inc. Institution	−$39.8M −42.6K shares	$1.7B 1.8M shares
N Neuberger Berman Group LLC Institution	−$32.9M −35.2K shares	$6.7M 7.2K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	−$32.8M −31.1K shares	Sold Off 0 shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$32.5M −34.9K shares	$25.8M 27.6K shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	−$24.6M −26.4K shares	$539.0M 579.3K shares
FIRST TRUST ADVISORS LP ETF Provider	−$17.1M −18.3K shares	$15.5M 16.6K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$16.8M −18.0K shares	$42.0M 45.0K shares
A AXA Institution	−$16.5M −15.7K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited TPL in Q3 2025

New Positions: 38
New Value: $30.3M
Exited Positions: 88
Exited Value: $126.3M

New Positions

Institution	Position Value
M Massar Capital Management, LP Institution	$6.5M 7.0K shares
S Sienna Gestion Institution	$4.8M 5.6K shares
Morningstar Investment Management LLC Long Only Manager	$3.7M 4.0K shares
D DAYMARK WEALTH PARTNERS, LLC RIA/Wealth	$2.0M 2.1K shares
I IPG Investment Advisors LLC RIA/Wealth	$1.8M 1.9K shares
V Virtus Investment Advisers, Inc. Institution	$1.8M 1.9K shares
S South Dakota Investment Council Institution	$1.5M 1.6K shares
E Empire Financial Management Company, LLC RIA/Wealth	$1.0M 1.1K shares
Fortune Financial Advisors, LLC RIA/Wealth	$840.4K 900.0 shares
ROCKLAND TRUST CO Private Equity	$686.2K 735.0 shares

Exited Positions

Institution	Previous Position
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$32.8M 31.1K shares
A AXA Institution	$16.5M 15.7K shares
H HRT FINANCIAL LLC Institution	$8.8M 8.3K shares
A AMF Pensionsforsakring AB Institution	$7.0M 6.6K shares
Gunderson Capital Management Inc. RIA/Wealth	$6.6M 6.2K shares
Quinn Opportunity Partners LLC Hedge Fund•Event Driven	$5.1M 4.8K shares
C CAXTON ASSOCIATES LLP Institution	$5.0M 4.7K shares
Trexquant Investment LP Hedge Fund•Quant	$4.4M 4.2K shares
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$3.9M 3.7K shares
Q Qube Research & Technologies Ltd Institution	$3.4M 3.2K shares

Options Activity

Institutions with the largest Call and Put options positions in TPL as of Q3 2025

Call Positions: 10
Call Value: $107.8M
Put Positions: 12
Put Value: $66.5M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$34.6M 371.0 contracts
D D. E. Shaw & Co., Inc. Institution	$25.4M 272.0 contracts
J JANE STREET GROUP, LLC Institution	$21.8M 233.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$18.5M 198.0 contracts
W WOLVERINE TRADING, LLC Institution	$4.8M 52.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$1.1M 12.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$746.9K 8.0 contracts
Walleye Trading LLC RIA/Wealth	$560.2K 6.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$280.1K 3.0 contracts
C Cubist Systematic Strategies, LLC Institution	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$41.3M 442.0 contracts
J JANE STREET GROUP, LLC Institution	$7.8M 84.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$7.5M 80.0 contracts
W WOLVERINE TRADING, LLC Institution	$6.0M 65.0 contracts
D D. E. Shaw & Co., Inc. Institution	$2.3M 25.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$560.2K 6.0 contracts
Walleye Trading LLC RIA/Wealth	$373.5K 4.0 contracts
MRM-Horizon Advisors LLC Fund of Funds	$373.5K - contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$280.1K 3.0 contracts
Y Yaupon Capital Management LP Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

Institutions with TPL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Y York GP, Ltd. Institution	-	93.38% $85.6M	0.40% 91.7K shares	Q4 2024 Held for 11 months	$91.7M
S SoftVest Advisors, LLC Hedge Fund•Multi-Strategy	Eric Lee Oliver President	76.41% $367.5M	1.71% 393.6K shares	Q4 2019 Held for 5y 11m	$480.9M
HORIZON KINETICS ASSET MANAGEMENT LLC Long Only Manager	Murray Stahl CEO	40.18% $3.3B	15.25% 3.5M shares	Q1 2019 Held for 6y 8m	$8.1B
MRM-Horizon Advisors LLC Fund of Funds	Richard William Silver Managing Partner	37.91% $88.5M	0.41% 94.8K shares	≤ Q2 2013 Held for 12y 5m+	$233.4M
S SANTA MONICA PARTNERS LP Institution	-	30.74% $50.4M	0.23% 54.0K shares	Q4 2017 Held for 7y 11m	$164.0M
Lagoda Investment Management, L.P. Long Only Manager	Fatima Katarzyna Dickey Managing Partner	18.01% $31.8M	0.15% 34.1K shares	Q4 2016 Held for 8y 11m	$176.7M
Atlas Wealth Partners, LLC RIA/Wealth	Michael Joseph Janvrin Managing Partner	12.73% $12.4M	0.06% 13.3K shares	Q4 2022 Held for 2y 11m	$97.7M
B BEDDOW CAPITAL MANAGEMENT INC RIA/Wealth	Edward George Beddow President	11.06% $21.1M	0.10% 22.6K shares	Q3 2015 Held for 10y 2m	$190.8M
P PACIFIC HEIGHTS ASSET MANAGEMENT LLC Long Only Manager	James Hanson Andrews CFO	7.79% $172.7M	0.81% 185.0K shares	≤ Q2 2013 Held for 12y 5m+	$2.2B
F First Dallas Securities Inc. RIA/Wealth	Craig Donaldson Hodges President	7.54% $20.4M	0.09% 21.8K shares	Q3 2020 Held for 5y 2m	$270.0M

Hedge Fund Spotlight

Discover hedge funds investing in TPL

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Texas Pacific Land

Market Value: $11.7M
Shares Held: 12.6K
Portfolio Weight: 0.01%
Owned Since: 2024-Q4

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