SAN JUAN BASIN RTY TR SJT
UNIT BEN INT · Royalty Trst · CUSIP 798241105
- SectorFinancials
- IndustryOil Royalty Traders
- HeadquartersDallas, TX
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $3.21. Options: 4 managers hold calls ($121.7k notional), 3 hold puts ($71.3k).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 84 |
| Q4 2022 | 102 |
| Q1 2023 | 94 |
| Q2 2023 | 101 |
| Q3 2023 | 100 |
| Q4 2023 | 98 |
| Q1 2024 | 83 |
| Q2 2024 | 77 |
| Q3 2024 | 78 |
| Q4 2024 | 88 |
| Q1 2025 | 87 |
| Q2 2025 | 87 |
| Q3 2025 | 88 |
| Q4 2025 | 90 |
| Q1 2026 | 89 |
| Q2 2026 | 82 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 29 | 26 |
| Q4 2024 | 29 | 28 |
| Q1 2025 | 29 | 32 |
| Q2 2025 | 34 | 37 |
| Q3 2025 | 31 | 33 |
| Q4 2025 | 36 | 36 |
| Q1 2026 | 36 | 24 |
| Q2 2026 | 29 | 37 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $2.9m | $780.0k | 0.27 |
| Q4 2025 | $387.8k | $1.5m | 3.88 |
| Q1 2026 | $382.4k | $1.2m | 3.21 |
| Q2 2026 | $121.7k | $71.3k | 0.59 |
Biggest buyers
| HORIZON KINETICS ASSET MANAGEMENT LLC | Added | +515.2k |
| CANNELL CAPITAL LLC | Added | +303.3k |
| Lesa Sroufe & Co | Added | +234.4k |
| MARSHALL WACE, LLP | Added | +146.5k |
| JANE STREET GROUP, LLC | Added | +132.5k |
| CITADEL ADVISORS LLC | Added | +88.7k |
| Ashton Thomas Private Wealth, LLC | Added | +78.3k |
| XTX Topco Ltd | Added | +75.0k |
| UBS Group AG | Added | +70.4k |
| BNP PARIBAS FINANCIAL MARKETS | New | +64.4k |
Biggest sellers
| PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. | Reduced | -297.8k |
| LPL Financial LLC | Reduced | -232.1k |
| Beacon Pointe Advisors, LLC | Reduced | -73.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -64.2k |
| MORGAN STANLEY | Reduced | -54.8k |
| Waverly Advisors, LLC | Sold out | -44.3k |
| ROYAL BANK OF CANADA | Reduced | -42.9k |
| RAYMOND JAMES FINANCIAL INC | Reduced | -38.7k |
| State of Wyoming | Sold out | -36.6k |
| Delta Investment Management, LLC | Reduced | -23.0k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $51.4k16.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $41.1k12.8k shares |
| GROUP ONE TRADING LLC | Reduced | $18.0k5.6k shares |
| SIMPLEX TRADING, LLC | New | $11.2k3.5k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $46.2k14.4k shares |
| GROUP ONE TRADING LLC | Added | $23.8k7.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.3k400 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| HORIZON KINETICS ASSET MANAGEMENT LLC 13G · institution +1.1 pts · filed 2026-07-31 | 16.1% |
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.27% of their portfolio | 7.5m $24.1m | Added +515.2k |
| MORGAN STANLEY 0.00% of their portfolio | 1.6m $5.0m | Reduced -54.8k |
| CANNELL CAPITAL LLC 2.72% of their portfolio | 1.2m $3.9m | Added +303.3k |
| Ashton Thomas Private Wealth, LLC 0.06% of their portfolio | 946.0k $3.0m | Added +78.3k |
| Moors & Cabot, Inc. 0.11% of their portfolio | 859.2k $2.8m | Added +7.3k |
| PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 0.10% of their portfolio | 641.4k $2.1m | Reduced -297.8k |
| Lesa Sroufe & Co 1.33% of their portfolio | 581.3k $1.9m | Added +234.4k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 540.1k $1.7m | Added +146.5k |
| MCDANIEL TERRY & CO 0.08% of their portfolio | 318.1k $1.0m | Unchanged |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 254.8k $817.9k | Reduced -38.7k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 242.9k $779.8k | Added +88.7k |
| Advisory Services Network, LLC 0.01% of their portfolio | 240.4k $771.6k | Reduced -2.0k |
| Mraz, Amerine & Associates, Inc. 0.08% of their portfolio | 184.2k $591.4k | Unchanged |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 180.1k $578.2k | Added +132.5k |
| XTX Topco Ltd 0.01% of their portfolio | 170.9k $548.7k | Added +75.0k |
| KINGSWOOD WEALTH ADVISORS, LLC 0.02% of their portfolio | 155.4k $499.0k | Reduced -10.5k |
| LPL Financial LLC 0.00% of their portfolio | 148.1k $475.3k | Reduced -232.1k |
| Pingora Partners LLC 0.25% of their portfolio | 135.1k $433.5k | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 95.7k $307.1k | Added +41.8k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 95.4k $306.2k | Added +7.2k |
| UBS Group AG 0.00% of their portfolio | 90.2k $289.4k | Added +70.4k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 73.4k $235.7k | Reduced -998 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 64.4k $206.6k | New |
| Greenfield Seitz Capital Management, LLC 0.05% of their portfolio | 53.1k $170.5k | Unchanged |
| Creative Planning 0.00% of their portfolio | 53.0k $170.2k | Added +140 |
| INGALLS & SNYDER LLC 0.00% of their portfolio | 48.6k $156.0k | Added +20.0k |
| Beacon Pointe Advisors, LLC 0.00% of their portfolio | 45.0k $144.4k | Reduced -73.3k |
| Meixler Investment Management, Ltd. 0.08% of their portfolio | 44.6k $143.2k | Reduced -9.3k |
| Atlas Wealth Partners, LLC 0.14% of their portfolio | 40.1k $128.7k | Reduced -2.0k |
| PKS Advisory Services, LLC 0.02% of their portfolio | 37.9k $121.6k | New |
| First Financial Bankshares Inc 0.00% of their portfolio | 37.5k $120.4k | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 37.4k $120.1k | Reduced -7.7k |
| Pekin Hardy Strauss, Inc. 0.01% of their portfolio | 35.8k $114.8k | Reduced -21.0k |
| Welch Group, LLC 0.00% of their portfolio | 35.5k $114.0k | Added +5.5k |
| Argent Trust Co 0.00% of their portfolio | 35.1k $112.7k | New |
| Delta Investment Management, LLC 0.02% of their portfolio | 34.5k $110.6k | Reduced -23.0k |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 33.0k $106.0k | Reduced -687 |
| Key Client Fiduciary Advisors, LLC 0.03% of their portfolio | 31.9k $101.9k | Reduced -725 |
| Roundview Capital LLC 0.01% of their portfolio | 30.0k $96.3k | Unchanged |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 28.9k $92.0k | Added +14.8k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 28.5k $91.4k | Reduced -4.0k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 27.7k $89.0k | Reduced -42.9k |
| HRT FINANCIAL LP 0.00% of their portfolio | 27.5k $88.0k | New |
| Clear Harbor Asset Management, LLC 0.00% of their portfolio | 21.3k $68.5k | Reduced -7.5k |
| DWR WEALTH MANAGEMENT, LLC 0.05% of their portfolio | 20.5k $60.7k | Unchanged |
| GROUP ONE TRADING LLC 0.00% of their portfolio | 20.4k $65.4k | Added +15.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 16.1k $51.8k | Reduced -64.2k |
| Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.01% of their portfolio | 15.7k $50.3k | Unchanged |
| Financial Engines Advisors L.L.C. 0.00% of their portfolio | 15.5k $49.9k | Unchanged |
| Aptus Capital Advisors, LLC 0.00% of their portfolio | 15.0k $48.1k | Added +5.0k |
| SevenBridge Financial Group, LLC 0.01% of their portfolio | 15.0k $38.0k | Added +5.0k |
| FOUNDATION RESOURCE MANAGEMENT INC 0.01% of their portfolio | 14.6k $46.8k | Unchanged |
| BECK MACK & OLIVER LLC 0.00% of their portfolio | 13.7k $43.9k | Reduced -1.9k |
| WEDBUSH SECURITIES INC 0.00% of their portfolio | 11.5k $37.0k | Reduced -2.0k |
| Westfuller Advisors, LLC 0.01% of their portfolio | 11.4k $36.7k | Unchanged |
| Evernest Financial Advisors, LLC 0.01% of their portfolio | 11.0k $35.3k | Unchanged |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 10.8k $34.8k | Added +4.4k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 10.6k $34.1k | New |
| Stratos Wealth Partners, LTD. 0.00% of their portfolio | 10.6k $33.9k | Unchanged |
| Pathstone Holdings, LLC 0.00% of their portfolio | 10.4k $33.5k | Unchanged |
| Corient Private Wealth LP 0.00% of their portfolio | 10.1k $32.5k | Unchanged |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 10.0k $32.0k | Unchanged |
| Wilmington Savings Fund Society, FSB 0.00% of their portfolio | 5.0k $16.1k | Unchanged |
| FIFTH THIRD BANCORP 0.00% of their portfolio | 4.0k $13.0k | Unchanged |
| ADKINS SEALE CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 3.7k $11.9k | Unchanged |
| AMERIFLEX GROUP, INC. 0.00% of their portfolio | 3.6k $11.6k | Reduced -1.5k |
| EFG International AG 0.00% of their portfolio | 3.1k $10.0k | Unchanged |
| ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio | 2.7k $8.8k | Unchanged |
| SouthState Bank Corp 0.00% of their portfolio | 2.0k $6.4k | Unchanged |
| Steward Partners Investment Advisory, LLC 0.00% of their portfolio | 1.7k $5.3k | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 782 $2.3k | New |
| Morse Asset Management, Inc 0.00% of their portfolio | 500 $1.6k | Reduced -910 |
| Arax Advisory Partners 0.00% of their portfolio | 405 $1.3k | Added +402 |
| IFP Advisors, Inc 0.00% of their portfolio | 395 $1.3k | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 376 $1.2k | Unchanged |
| Physician Wealth Advisors, Inc. 0.00% of their portfolio | 245 $787 | Unchanged |
| Plante Moran Financial Advisors, LLC 0.00% of their portfolio | 197 $632 | Unchanged |
| Allworth Financial LP 0.00% of their portfolio | 150 $482 | Reduced -100 |
| NFSG Corp 0.00% of their portfolio | 106 $339 | Unchanged |
| JNBA Financial Advisors 0.00% of their portfolio | 100 $321 | New |
| Caitong International Asset Management Co., Ltd 0.00% of their portfolio | 91 $292 | Added +52 |
| FMR LLC 0.00% of their portfolio | 50 $161 | Reduced -2.2k |