York GP, Ltd.

Key Holdings

The portfolio is dominated by Texas Pacific Land Corporation (TPL), which accounts for $85.61 million, or 99.67%, of the total assets. The firm holds 92,000 shares of TPL. Given that TPL is a unique entity often classified as a royalty trust or a landholding company with significant exposure to the oil and gas sector (specifically the Permian Basin) through royalty interests, this position provides the portfolio with direct leverage to energy commodity prices and land valuation. The secondary holding is a minor position in "LISTED FDS TR" valued at $281,300 (0.33%), comprising 10,000 shares. This appears to be a liquidity position or a small tactical allocation, as its impact on the overall portfolio performance is negligible compared to the TPL position.