Vault-13

TEXAS PAC LD TR TPL

SUB CTF PROP I T · Royalty Trst · CUSIP 882610108

2 institutional holders +0 vs Q3 2025
230,214230.2k shares reported held*
$66.1mreported value*
0 new 2 added 0 reduced 0 sold out net bought ≈ $44.1m (+153.6k shares)

* 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 ≈ $287.22.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0123Q3 22: 3Q4 22: 3Q1 23: 3Q2 23: 3Q3 23: 3Q4 23: 3Q1 24: 2Q2 24: 2Q3 24: 2Q4 24: 2Q1 25: 2Q2 25: 2Q3 25: 2Q4 25: 22Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 20223
Q4 20223
Q1 20233
Q2 20233
Q3 20233
Q4 20233
Q1 20242
Q2 20242
Q3 20242
Q4 20242
Q1 20252
Q2 20252
Q3 20252
Q4 20252

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
202Q1 24: 2 bought or addedQ1 24: 1 cut or sold outQ2 24: 0 bought or addedQ2 24: 2 cut or sold outQ2 24Q3 24: 0 bought or addedQ3 24: 1 cut or sold outQ4 24: 1 bought or addedQ4 24: 1 cut or sold outQ4 24Q1 25: 0 bought or addedQ1 25: 1 cut or sold outQ2 25: 0 bought or addedQ2 25: 1 cut or sold outQ2 25Q3 25: 1 bought or addedQ3 25: 0 cut or sold outQ4 25: 2 bought or addedQ4 25: 0 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202421
Q2 202402
Q3 202401
Q4 202411
Q1 202501
Q2 202501
Q3 202510
Q4 202520

Biggest buyers

SANTA MONICA PARTNERS LP Added +107,982+108.0k
BEDDOW CAPITAL MANAGEMENT INC Added +45,642+45.6k

Biggest sellers

None

Insider purchases and sales in Q4 2025

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.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
404Q1 24: 3 buyingQ1 24: 0 sellingQ2 24: 2 buyingQ2 24: 0 sellingQ2 24Q3 24: 1 buyingQ3 24: 0 sellingQ4 24: 1 buyingQ4 24: 2 sellingQ4 24Q1 25: 2 buyingQ1 25: 3 sellingQ2 25: 1 buyingQ2 25: 0 sellingQ2 25Q3 25: 1 buyingQ3 25: 1 sellingQ4 25: 0 buyingQ4 25: 0 sellingQ4 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q1 20243$2.5m0——
Q2 20242$83.9k0——
Q3 20241$327.1k0——
Q4 20241$458.7k2$760.6k—
Q1 20252$700.1k3$2.8m$978.6k
Q2 20251$767.8k0——
Q3 20251$269.1k1$150.1k—
Q4 20250—0——
DateInsiderTradeSharesPrice ValueTheir holding
2025-12-31 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $287.54 $2881 share +<1%
2025-12-30 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $294.50 $2941 share +<1%
2025-12-29 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $293.53 $2941 share +<1%
2025-12-26 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $284.78 $2851 share +<1%
2025-12-24 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $295.05 $2951 share +<1%
2025-12-23 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $300.76 $3011 share +<1%
2025-12-22 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $924.53 $9251 share +<1%
2025-12-19 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $897.18 $8971 share +<1%
2025-12-18 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $902.41 $9021 share +<1%
2025-12-17 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $879.93 $8801 share +<1%
2025-12-16 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $822.14 $8221 share +<1%
2025-12-15 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $818.76 $8191 share +<1%
2025-12-12 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $880.88 $8811 share +<1%
2025-12-11 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $877.16 $8771 share +<1%
2025-12-10 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $870.01 $8701 share +<1%
2025-12-09 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $896.25 $8961 share +<1%
2025-12-08 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $914.15 $9141 share +<1%
2025-12-05 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $921.79 $9221 share +<1%
2025-12-04 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $912.29 $9121 share +<1%
2025-12-03 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $875.90 $8761 share +<1%
2025-12-02 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $869.18 $8691 share +<1%
2025-12-01 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $866.88 $8671 share +<1%
2025-11-28 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $867.31 $8671 share +<1%
2025-11-26 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $863.45 $8631 share +<1%
2025-11-25 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $853.41 $8531 share +<1%
2025-11-24 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $880.12 $8801 share +<1%
2025-11-21 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $895.11 $8951 share +<1%
2025-11-20 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $918.95 $9191 share +<1%
2025-11-19 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $899.24 $8991 share +<1%
2025-11-18 HORIZON KINETICS ASSET MANAGEMENT LLC 10% owner Bought 1 $914.17 $9141 share +<1%

The latest 30 of 64 trades.

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SANTA MONICA PARTNERS LP 28.21% of their portfolio PALM BEACH GARDENS, FL 161,973162.0k $46.5m $46.5m 28.21% Added +108.0k +107,982
2 BEDDOW CAPITAL MANAGEMENT INC 7.40% of their portfolio JACKSON, WY 68,24168.2k $19.6m $19.6m 7.40% Added +45.6k +45,642