Santa Monica Partners LP

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Santa Monica Partners LP reported 13 stock positions worth $182.5 million. Its top holding was Texas Pacific Land Trust (TPL) at 39.2% of the portfolio, followed by Mastercard Class A (MA, 30.7%) and Balchem (BCPC, 10.9%). Compared with Q4 2024, it opened 1 new position, sold out of 5 and reduced 1. The biggest buy was a new position in Landbridge Co. LLC-A (LB) and the biggest sale Balchem (BCPC, shares −40%).

Most Recent 13F
Q2 2026
Location
PALM BEACH GARDENS, FL
CIK
0000904793
Portfolio Value
$182.5M (Q1 2025)
SEC Filing
0000904793-25-000004 ↗ filed May 13, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $144.6M Q1 2024 Q2 2024: $148.9M Q2 2024 Q3 2024: $169.8M Q3 2024 Q4 2024: $185.2M Q4 2024 Q1 2025: $182.5M $182.5M Q1 2025 Q2 2025: $171.5M Q2 2025 Q3 2025: $170.4M Q3 2025 Q4 2025: $164.9M Q4 2025 Q1 2026: $179.1M Q1 2026 Q2 2026: $185.4M Q2 2026

Holdings 13 stocks · $182.5M
TPL Texas Pacific Land Trust 39.19% 53,991 $71.5M No change
MA Mastercard Inc. Class A 30.68% 102,170 $56.0M No change
BCPC Balchem Corp. 10.91% 120,014 $19.9M Reduce -39.6%
BR Broadridge Financial Solutio 5.42% 40,793 $9.9M No change
GRMN Garmin Ltd. 4.85% 40,755 $8.8M No change
BELFB Bel Fuse Inc. Class B 2.77% 67,634 $5.1M No change
Grayscale Bitcoin Trust ETF 2.32% 64,932 $4.2M No change
BRK.A Berkshire Hathaway Inc. Class A 1.75% 4 $3.2M No change
BELFA Bel Fuse Inc. Class A 0.93% 23,434 $1.7M No change
LB Landbridge Co. LLC-A 0.55% 14,000 $1.0M New
BTC Grayscale Bitcoin Mini Trust 0.26% 12,986 $474K No change
MCB Metropolitan Bank Holding Co. 0.24% 7,811 $437K No change
BNT Brookfield Wealth Solutions 0.13% 4,603 $241K No change

Portfolio Sells Q4 2024 → Q1 2025
BCPC Balchem Corp. Reduce -39.6% 10.91% −6.57
BOC Boston Omaha Corp. Class A Sold out 0.00% −1.00
FNV Franco-Nevada Corp. Sold out 0.00% −0.68
VRTS Virtus Investment Partners Sold out 0.00% −0.68
SLP Simulations Plus Inc. Sold out 0.00% −0.43
PMDI Psychemedics Corp. Sold out 0.00% −0.02

Portfolio Buys Q4 2024 → Q1 2025
LB Landbridge Co. LLC-A New 0.55% +0.55

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 13$185.4MTPL, MA, BELFB, GRMN, BCPC
Q1 2026 13$179.1MTPL, MA, BELFB, GRMN, BCPC
Q4 2025 13$164.9MMA, TPL, BCPC, BELFB, BR
Q3 2025 13$170.4MMA, TPL, BCPC, GRMN, BR
Q2 2025 13$171.5MMA, TPL, BCPC, BR, GRMN
Q1 2025 13$182.5MTPL, MA, BCPC, BR, GRMN
Q4 2024 17$185.2MTPL, MA, BCPC, BR, GRMN
Q3 2024 17$169.8MMA, TPL, BCPC, BR, GRMN
Q2 2024 16$148.9MMA, TPL, BCPC, BR, GRMN
Q1 2024 16$144.6MMA, TPL, BCPC, BR, GRMN