Talk to Chuck

tpltblogger7 Comments

SCHM, SCHV, SCHX, and SCHB have all taken positions in TPL as of late. SCHM, which has the largest position by shares, is focused on the Dow Jones US Mid-Cap Total Stock Market Index and appears to be passive.

In addition to Schwab, a couple of Manulife large and mid-cap ETFs have also positioned TPL.

7 thoughts on “Talk to Chuck”

  2. How long after March 31 do mutual funds have to disclose their holdings as of March 31?
    Is there a way to find out how many shares were gobbled up my index tracking or active management funds in the 1st quarter?

    Thanks

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  3. It’s interesting to see how many shares of TPL the Ave Maria funds own, according to Morningstar. They are the largest Catholic fund in the US.

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  4. Not to mention INFL, HK’s new ETF, which has TPL as its biggest holding.

    Buying TPL even at this price is an easy decision for a big ETF or fund. On paper it’s all very solid — no debt, monster land asset, royalty model with dividends that can rise asymmetrically with inflation, plus the prospect of stock split and more dynamic management.

    I can see price hitting $2000 in the coming year.

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  6. Why don’t options trade for this? And why are the spreads so high, and trading so exceptionally illiquid premarket and afterhours — much more so than any other stock even at this share price (like, the bid/ask might be like 700/9000). Previously I thought it might be because of the trust structure. And the high share price alone doesn’t explain it either.

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  7. AXR, this is from Investopedia

    Under Chicago Board Options Exchange (CBOE) rules, there are five criteria that a stock must meet before it can have options as of December 2020.1

    1. The underlying equity security must be a properly registered NMS stock.
    2. The company must have at least 7,000,000 publicly held shares.
    3. The underlying stock must have at least 2,000 shareholders.
    4. Trading volume must equal or exceed 2,400,000 shares in the past 12 months.
    5. The price of the security must be sufficiently high for a specific time.
    Options exchanges, such as the CBOE, will not allow any options to be traded on the underlying security if a company fails to meet even one of these criteria.

    I don’t know if TPL can pass all of these criteria – others can provide insight on this…

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