Blog

Portfolio Manager’s Monthly Update – September 2018

September 5, 2018 Dear Partners, The U. S. oil and gas markets had a constructive month in August. Oil prices were firm, backed by a steady […]

Portfolio Manager’s Monthly Update – August 2018

August 16, 2018 Dear Partners, This map shows the number of pipelines that are proposed to be built in the Permian Basin, to handle the expected […]

Portfolio Manager’s Monthly Update – July 2018

July 9, 2018 Dear Partners, The oil markets and our holdings were stronger than expected in June after the big run up in May. Geopolitics and […]

Portfolio Manager’s Monthly Update – June 2018

June 11, 2018 Dear Partners, It is one thing to write about why we select certain holdings for our fund. It is another thing altogether to […]

Portfolio Manager’s Monthly Update – May 2018

May 11, 2018 Dear Partners, The oil markets and the energy business came to life over the last few weeks spurred by steadily falling inventories, continued […]

Portfolio Manager’s Monthly Update – April 2018

April 8, 2018 Dear Partners, Processing of K-1s has taken longer than expected but we hope to get K-1s out to you ASAP. For the time […]

Portfolio Manager’s Monthly Update – March 2018

March 14, 2018 Dear Investors, The Fund value retreated (-.58%) last month after a fine performance in January. The Alerian MLP Index we have long used […]

Portfolio Manager’s Monthly Update – February 2018

February 14, 2018 Dear Investors, We suggested last month that we believed that 2018 would be a strong year for equity markets including those in the […]

Portfolio Manager’s Monthly Update – January 2018

January 19, 2018 Dear Investors, We want to reemphasize what we said in last month’s letter: we think 2018 will be a good year for energy […]

An Introduction to Texas Pacific Land Trust (TPL) – Part III

The Water Business This is the final report of our 3-part series entitled, “An Introduction to Texas Pacific Land Trust” (dated April 16 and June 9, […]

An Introduction to Texas Pacific Land Trust (TPL) – Part II

This report should be read together with our communication of April 16, 2017 entitled, “An Introduction to Texas Pacific Land Trust.” For a copy of this […]

An Introduction to Texas Pacific Land Trust (TPL)

We have chosen to review Texas Pacific Land Trust (TPL) because its shares offer a unique way to gain exposure to the Permian Basin, the “sweet […]