Here’s Why Ave Maria Invested in Texas Pacific Land Corporation (TPL)

Investment management company Ave Maria recently released its “Ave Maria Focused Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the second quarter, the fund returned -22.3% compared to -17.46% for the S&P MidCap 400 Growth Index and -16.10% for the S&P 500® Index.  You can check the top 5 holdings of the fund to know its best picks in 2022.

Ave Maria discussed stocks like Texas Pacific Land Corporation (NYSE:TPL) in the second quarter investor letter. Headquartered in Dallas, Texas, Texas Pacific Land Corporation (NYSE:TPL) is a real estate operating company. On August 25, 2022, Texas Pacific Land Corporation (NYSE:TPL) stock closed at $1786.51 per share. One-month return of Texas Pacific Land Corporation (NYSE:TPL) was -2.40% and its shares gained 29.36% of their value over the last 52 weeks. Texas Pacific Land Corporation (NYSE:TPL)  has a market capitalization of $13.796 billion.

Here is what Ave Maria specifically said about Texas Pacific Land Corporation (NYSE:TPL):

Texas Pacific Land Corporation (NYSE:TPL) is one of the largest landowners in Texas. The company’s internal operations are performing well with WTI oil prices around $100 per barrel. Furthermore, high oil prices may encourage more drilling which bodes well for TPL’s oil royalties, land easements and its frac water business. Recently, TPL entered a joint venture with a bitcoin miner to place bitcoin mining hardware on TPL’s land and use excess natural gas as a low-cost energy source for the operation. While we are skeptical about the future of bitcoin, we view this venture as TPL gaining a free option on the value of bitcoin.”

Texas Pacific Land Trust

Image: Texas Pacific Land Trust Office/Credit: Google Maps

Texas Pacific Land Corporation (NYSE:TPL) is in not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Texas Pacific Land Corporation (NYSE:TPL) at the end of the first quarter which was 19 in the previous quarter.

We discussed Texas Pacific Land Corporation (NYSE:TPL) in another article and shared LRT Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.