Letters by company

Sitio Royalties Corp.

1 letter discussing STR. Everything written about it on this site is on its ticker page.

Horizon Kinetics 2026 New Year Letter from Our Founders Horizon Kinetics argues that private investments in exchanges, royalties and Permian infrastructure extend its long-horizon value discipline, citing TPL, MIAX, LandBridge and WaterBridge. It avoids AI-IT mega-caps while seeking beneficiaries controlling land, water and natural gas, and says continual chip replacement makes sector cash-flow forecasts internally inconsistent. 2025 ICE $87BLB $6.4BMIAX $3.6B