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Kinetics Paradigm WWNPX

Anyone know what is driving the recent performance of WWNPX? It's up almost 6% today, and 63.56% YTD.
I know they had some bitcoin, and maybe some TSLA at one point, but the published holdings cannot account for a 6% gain today. I'm actually embarrassed to admit that I still own it, because with a management fee of over 1.6%, it really can't be called a good choice. I bought it years and years ago before I knew anything about picking mutual funds. For now I guess I'll be embarrassed "all the way to the bank".

Comments

  • Part of the performance may be due to its holding in TPL,Texas Pacific Land Corp., up 9.66% today, another all-time high. It's also doubled since February. At EOY it had a 38% position in it, and Mining, Quarrying, and Oil and Gas Extraction had a 43% sector position. So you may want to confirm this data. I don't follow the fund but looked into it briefly.
  • Thanks, Dennis. I see Texas Pacific Land Trust on the company site, at a whopping 37.8% of assets. So that must be it. For some reason, that holding is missing from the holdings listed by Morningstar.
  • It is in "OTHER" holdings of M*
  • edited March 2021
    Horizon Kinetics is the largest institutional shareholder:

    https://money.cnn.com/quote/shareholders/shareholders.html?symb=tpl&subView=institutional
  • I stumbled across TPL and Horizon in early 2021 and doubled my money in about six months. I sold at $1200 a share mainly because it seemed too good to be true, although it has doubled again.

    The stock price does not parallel the price of oil or natural gas, although this year gas has skyrocketed more than TPL, but has crashed.

    TPL keeps climbing and reported earnings and cash flow up almost two times.

    They basically own a lot of land in West Texas and collect royalties from the oil and gas there. They also have a water business, used mainly in fracking, I think, and lease land for roads and other activities, some of which is for wind and solar sites and now batteries.

    All of the latter must explain TPL sharp increase recently although the price of oil and gas have been relatively flat

    It is trading at a pretty high PE ( 28) for an oil and gas company so a lot of this must reflect enthusiasm for the other stuff, ie batteries out in the desert and the renewable energy stuff.

    Needs a sharper mind than mine to figure this out.
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