LRT Capital Management, an investment management firm, has released its October 2022 investor letter. A copy of the same can be downloaded here. The October results were impressive, with the LRT Economic Moat strategy returning 7.38%. Plus, check out the fund’s top 5 holdings to discover our best picks for 2022.
In an investor letter, LRT Capital described stocks such as Texas Pacific Land Corporation (NYSE:TPL). Headquartered in Dallas, Texas, Texas Pacific Land Corporation (NYSE:TPL) is engaged in land and resource management, water services and business operations. On November 16, 2022, Texas Pacific Land Corporation (NYSE: TPL) stock closed at $2,626.06 per share. His one-month return on Texas Pacific Land Corporation (NYSE: TPL) was 28.10%, and the company’s stock has earned him 105.09% of its value over the past 52 weeks. Texas Pacific Land Corporation (NYSE:TPL) has a market capitalization of $20.232 billion.
LRT Capital made the following comments about Texas Pacific Land Corporation (NYSE:TPL) in its October investor letter:
“Long-time readers will know that we rarely invest in commodities businesses. But there are periods in the market when commodity-based businesses significantly outperform broader indices. We have been looking for a long time to balance our portfolio and we believe we are a competitive company in the commodities space. Texas Pacific Land Corporation (NYSE:TPL), meets its criteria. Formed from a once bankrupt railroad asset, his TPL controls the largest land in the Permian Basin, the heart of the US shale oil industry. The company has two main sources of income for him. 2) Water businesses that develop water resources and sell their services to the fracking industry. TPL believes it is an effective way to diversify its portfolio into commodity-exposed businesses that have a history of prudent capital allocation and a low risk of financial distress during periods of low oil prices. . The company has no debt and $281 million in cash. The company uses most of its cash flow to pay dividends and buy back shares. ”
Image: Texas Pacific Land Trust Office/Credit: Google Maps
Texas Pacific Land Corporation (NYSE:TPL) isn’t on the list of the 30 most popular hedge funds. According to our database, 20 hedge fund portfolios held Texas Pacific Land Corporation (NYSE:TPL) at the end of the third quarter, compared with 22 last quarter.
Texas Pacific Land Corporation (NYSE:TPL) was covered in a separate article, sharing Wedgewood Partners’ view of the company. Additionally, for investor letters from hedge funds and other key investors, please visit our Hedge Fund Investor Letters for Q3 2022 page.
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Disclosure: None. This article was originally published on Insider Monkey.
