SAN Juan Basin Royalty Trust: which funds bought and sold
Institutions that bought and sold SAN Juan Basin Royalty Trust shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.
Between March 31, 2026 and June 30, 2026, 29 institutions that filed 13F reports for both quarters added to or opened positions in SAN Juan Basin Royalty Trust, and 37 cut or closed them. Together they added a net 872K shares, +5.3% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 262K shares (+39.9%); index fund managers held the same number of shares overall. 7 opened a new position and 12 sold out entirely.
Bought, Q2 2026 29 institutions, 7 of them new holders Sold, Q2 2026 37 institutions, 12 of them sold out
Net change, all compared +872K shares (+5.3%)
Net change, active managers +262K shares (+39.9%), 4 bought, 3 sold
Buyers versus sellers
29 bought 27 37 sold
Active managers and hedge funds 4 bought · 3 sold · +262K
Index fund managers 0 bought · 0 sold · 0
Other institutions 25 bought · 34 sold · +610K
Biggest buyers
| Institution | Change in shares | Shares June 30, 2026 | Value |
|---|---|---|---|
| Horizon Kinetics Asset Management LLC | +515K +7.4% | 7.5M | $24.1M |
| Cannell Capital LLC | +303K +33.3% | 1.2M | $3.9M |
| Lesa Sroufe & Co | +234K +67.6% | 581K | $1.9M |
| Marshall Wace, LLP Hedge fund | +146K +37.2% | 540K | $1.7M |
| Jane Street Group, LLC | +132K +278.1% | 180K | $578,166 |
| Citadel Advisors LLC Hedge fund | +89K +57.5% | 243K | $779,802 |
| Ashton Thomas Private Wealth, LLC | +78K +9.0% | 946K | $3M |
| Xtx Topco Ltd | +75K +78.2% | 171K | $548,660 |
| UBS Group AG | +70K +355.4% | 90K | $289,411 |
| BNP Paribas Financial Markets | +64K New position | 64K | $206,615 |
| Two Sigma Investments, LP Hedge fund | +42K +77.7% | 96K | $307,056 |
| Pks Advisory Services, LLC | +38K New position | 38K | $121,604 |
| Argent Trust Co | +35K New position | 35K | $112,671 |
| HRT Financial LP | +27K New position | 27K | $88,000 |
| Ingalls & Snyder LLC | +20K +69.8% | 49K | $156,000 |
| Group One Trading LLC | +16K +334.1% | 20K | $65,384 |
| Cambridge Investment Research Advisors, Inc. | +15K +105.0% | 29K | $92,000 |
| Qube Research & Technologies Ltd Hedge fund | +11K New position | 11K | $34,119 |
| Moors & Cabot, Inc. | +7,310 +0.9% | 859K | $2.8M |
| Osaic Holdings, Inc. | +7,156 +8.1% | 95K | $306,241 |
| Institution | Change in shares | Shares June 30, 2026 | Value |
|---|---|---|---|
| Marshall Wace, LLP Hedge fund | +146K +37.2% | 540K | $1.7M |
| Citadel Advisors LLC Hedge fund | +89K +57.5% | 243K | $779,802 |
| Two Sigma Investments, LP Hedge fund | +42K +77.7% | 96K | $307,056 |
| Qube Research & Technologies Ltd Hedge fund | +11K New position | 11K | $34,119 |
Biggest sellers
| Institution | Change in shares | Shares June 30, 2026 | Value |
|---|---|---|---|
| Punch & Associates Investment Management, Inc. | −298K −31.7% | 641K | $2.1M |
| LPL Financial LLC | −232K −61.1% | 148K | $475,344 |
| Beacon Pointe Advisors, LLC | −73K −62.0% | 45K | $144,450 |
| Susquehanna International Group, LLP | −64K −79.9% | 16K | $51,781 |
| Morgan Stanley | −55K −3.4% | 1.6M | $5M |
| Waverly Advisors, LLC | −44K Sold out | 0 | — |
| Royal Bank Of Canada | −43K −60.8% | 28K | $89,000 |
| Raymond James Financial Inc | −39K −13.2% | 255K | $817,926 |
| State Of Wyoming | −37K Sold out | 0 | — |
| Delta Investment Management, LLC | −23K −40.0% | 34K | $110,620 |
| Pekin Hardy Strauss, Inc. | −21K −37.0% | 36K | $114,757 |
| Gk Wealth Management LLC | −21K Sold out | 0 | — |
| Quadrature Capital Ltd Hedge fund | −20K Sold out | 0 | — |
| Private Advisor Group, LLC | −16K Sold out | 0 | — |
| V-Square Quantitative Management LLC | −11K Sold out | 0 | — |
| Rahlfs Capital, LLC | −11K Sold out | 0 | — |
| Kingswood Wealth Advisors, LLC | −11K −6.3% | 155K | $498,995 |
| Kovack Advisors, Inc. | −11K Sold out | 0 | — |
| Meixler Investment Management, Ltd. | −9,300 −17.3% | 45K | $143,166 |
| Bank Of America Corp | −7,680 −17.0% | 37K | $120,053 |
| Institution | Change in shares | Shares June 30, 2026 | Value |
|---|---|---|---|
| Quadrature Capital Ltd Hedge fund | −20K Sold out | 0 | — |
| AQR Capital Management LLC Hedge fund | −4,000 −12.3% | 28K | $91,427 |
| FMR LLC Active manager | −2,181 −97.8% | 50 | $161 |
New positions
| Institution | Shares | Value June 30, 2026 |
|---|---|---|
| BNP Paribas Financial Markets | 64K | $206,615 |
| Pks Advisory Services, LLC | 38K | $121,604 |
| Argent Trust Co | 35K | $112,671 |
| HRT Financial LP | 27K | $88,000 |
| Qube Research & Technologies LtdHedge fund | 11K | $34,119 |
| Jpmorgan Chase & Co | 782 | $2,315 |
| Jnba Financial Advisors | 100 | $321 |
Sold out
| Institution | Shares | Value March 31, 2026 |
|---|---|---|
| Waverly Advisors, LLC | 44K | $212,717 |
| State Of Wyoming | 37K | $176,027 |
| Gk Wealth Management LLC | 21K | $101,270 |
| Quadrature Capital LtdHedge fund | 20K | $94,526 |
| Private Advisor Group, LLC | 16K | $75,437 |
| V-Square Quantitative Management LLC | 11K | $54,978 |
| Rahlfs Capital, LLC | 11K | $52,800 |
| Kovack Advisors, Inc. | 11K | $48,720 |
| International Assets Investment Management, LLC | 3,000 | $13,920 |
| Mai Capital Management | 1,150 | $5,520 |
Who holds the shares
- Institutions reporting
- 82
- Ten largest holders
- 83.2% of 13F-reported shares
- Index fund managers
- 0.0% of 13F-reported shares
- Active managers and hedge funds
- 5.3% of 13F-reported shares
| Type | Bought | Sold | New | Sold out | Net change in shares | Net % |
|---|---|---|---|---|---|---|
| Active managers and hedge funds | 4 | 3 | 1 | 1 | +262K | +39.9% |
| Index fund managers | 0 | 0 | 0 | 0 | 0 | 0.0% |
| Other institutions | 25 | 34 | 6 | 11 | +610K | +3.9% |
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