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San Juan Basin Royalty Trust Declares No October 2026 Cash Distribution

Investivoq FilingTracker

San Juan Basin Royalty Trust (SJT) said it will not declare a cash distribution for October 2026, citing excess production costs from prior periods and continued low natural gas prices. The Trust reported cumulative excess production costs of approximately $12.4 million gross, or $9.3 million net to the Trust.

Hilcorp reported $4.9 million of total revenue from the Subject Interests for August 2026, while production costs totaled $4.7 million, excluding the excess production-cost balance.

  • No cash distributions will be made until future net proceeds repay excess production costs, replenish a $2.0 million reserve, and repay principal and interest on the Trust's line of credit.
  • August gas revenue was $4.7 million and oil revenue was $180,537.
  • August gas production totaled 2.06 million Mcf, with an average gas price of $2.28 per Mcf.
  • October administrative expenses totaled $80,118; the Trust drew $80,101 on its line of credit, bringing outstanding principal to $1.16 million.
  • The Trust's cash-reserve balance was $3,891 as of October 20, 2026.
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$SJT Hedge Fund Activity

We have seen 29 institutional investors add shares of $SJT stock to their portfolio, and 39 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

  • HORIZON KINETICS ASSET MANAGEMENT LLC added 515,179 shares (+7.4%) to their portfolio in Q2 2026, for an estimated $1,653,724
  • CANNELL CAPITAL LLC added 303,297 shares (+33.3%) to their portfolio in Q2 2026, for an estimated $973,583
  • PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. removed 297,811 shares (-31.7%) from their portfolio in Q2 2026, for an estimated $955,973
  • LESA SROUFE & CO added 234,394 shares (+67.6%) to their portfolio in Q2 2026, for an estimated $752,404
  • LPL FINANCIAL LLC removed 232,127 shares (-61.1%) from their portfolio in Q2 2026, for an estimated $745,127
  • MARSHALL WACE, LLP added 146,452 shares (+37.2%) to their portfolio in Q2 2026, for an estimated $470,110
  • JANE STREET GROUP, LLC added 132,474 shares (+278.1%) to their portfolio in Q2 2026, for an estimated $425,241

To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.