John M Lund Photography Inc Introduction By now, I doubt it's a surprise when I say I really like companies that benefit from royalties. Texas Pacific Land Corporation (TPL) and LandBridge Company LLC (LB) are my largest and third-largest investments, respectively. Combined, the two investments account for 19% of my entire portfolio. These two companies own massive amounts of land in the Permian Basin, America's most important oil basin located in New Mexico and Texas. This basin alone produces over six ...