University Lands, under the direction of the Office of Business Affairs, The University of Texas System, is responsible for managing the Permanent University Fund lands and the Trust Minerals.

The mission of University Lands is to maximize the revenue from the Permanent University Fund (PUF) lands by applying intensive management, accounting, conservation, and environmental programs which improve and sustain the productivity of PUF lands, protect the interests of The University of Texas System, and promote awareness and sensitivity for the environment.