Lucas Capital Management Bets Big on Energy in Q4

#3 Dorchester Minerals LP (NASDAQ:DMLP)

Shares held (as of September 30): 437,447

Total Value (as of September 30): $6.33 million

Percent of Portfolio (as of September 30): 3.67%

Lucas Capital slightly upped its position in Dorchester Minerals LP (NASDAQ:DMLP), which owns producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests. For the quarter ended September 30, Dorchester Minerals LP (NASDAQ:DMLP)’s income significantly dropped to $2.68 million, compared to $10.97 million in a year-ago quarter. Revenue for the quarter decreased to $7.39 million, versus $15.72 million in 2014. This seems to have had an impact on Dorchester Minerals LP (NASDAQ:DMLP)’s stock, which lost by 42.81% year-to-date. David Atterbury’s Whetstone Capital Advisors held 101,440 Dorchester Minerals shares at the end of the second quarter.

#2 Apple Inc. (NASDAQ:AAPL)

Shares held (as of September 30): 67,667

Total Value (as of September 30): $7.46 million

Percent of Portfolio (as of September 30): 4.33%

Lucas Capital trimmed its stake in Apple Inc. (NASDAQ:AAPL) from 64,746 shares during the quarter. As a result of higher iPhone sales, Apple Inc. (NASDAQ:AAPL)’s revenue increased to $51.5 billion last quarter, compared to $42.1 billion in a year-ago quarter. The company reported a profit of $11.1 billion, or $1.96 per diluted share, versus $8.5 billion, or $1.42 per diluted share a year earlier. Shares of Apple Inc. (NASDAQ:AAPL) have increased by 5.27% year-to-date. Apple is a long-term bet of Carl Icahn’s Icahn Capital LP, which held 52.76 million shares of the company as of the end of June.

#1 Sabine Royalty Trust (NYSE:SBR)

Shares held (as of September 30): 270,256

Total Value (as of September 30): $8.26 million

Percent of Portfolio (as of September 30): 4.79%

With a market cap of $465.38 million, Sabine Royalty Trust (NYSE:SBR) is a Texas-based express trust energy, whose trustee is Southwest Bank. The trust owns nearly 5,400 tracts of land in Florida, Louisiana, Texas, Mississippi, Oklahoma, and New Mexico. At the end of the second quarter, Sabine Royalty Trust (NYSE:SBR) reported income of $9.48 million, compared to $15.73 million in a year-ago quarter. The company’s stock declined by 10.84% year-to-date. Another investor that loves Sabine Royalty Trust (NYSE:SBR) is Ken Griffin’s Citadel Investment Group, which held 25,242 shares at the end of June.

Disclosure: none