Permian Basin Royalty Trust

PBT • NYSE

Permian Basin Royalty Trust is a oil & gas midstream company in the energy sector on NYSE, with a market cap of $814.3M. As of Q3 2025, 42% of shares are held by 94 institutional investors, with SoftVest Advisors, LLC as the largest holder at 13.34%.

Market Cap$814.3M

Oil & Gas Midstream

Energy

Websitepbt-permian.com

Country

United States of America

Overview

Overview of institutional ownership in PBT as of Q3 2025 with a market cap of $850.6M

All Institutions

Institutions: 94
Value Held: $356.8M
Shares Held: 19.5M
Avg Position: $3.8M
Median Position: $339.7K

Hedge Funds

Hedge Funds: 3
Value Held: $123.6M
Shares Held: 6.8M
Avg Position: $41.2M
Median Position: $5.6M

Ownership Breakdown

Institutional (non-HF)

27.41%

$233.2M

Hedge Funds

14.53%

$123.6M

Retail & Other

58.06%

$493.9M

Based on market cap of $850.6M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in PBT as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
S SoftVest Advisors, LLC Hedge Fund•Multi-Strategy	Eric Lee Oliver President	$113.5M 23.59% of portfolio	13.34% 6.2M shares	Q1 2020 Held for 5y 8m	$480.9M
HORIZON KINETICS ASSET MANAGEMENT LLC Long Only Manager	Murray Stahl CEO	$111.3M 1.37% of portfolio	13.09% 6.1M shares	Q1 2019 Held for 6y 8m	$8.1B
SCHWARTZ INVESTMENT COUNSEL INC Long Only Manager	Timothy Steven Schwartz CEO	$18.0M 0.60% of portfolio	2.11% 984.7K shares	Q4 2022 Held for 2y 11m	$3.0B
MRM-Horizon Advisors LLC Fund of Funds	Richard William Silver Managing Partner	$16.8M 7.21% of portfolio	1.98% 922.2K shares	Q2 2025 Held for 5 months	$233.4M
FOUNDATION RESOURCE MANAGEMENT INC Long Only Manager	Meredith Humphrey Moll President	$11.7M 1.68% of portfolio	1.38% 642.5K shares	≤ Q2 2013 Held for 12y 5m+	$696.0M
Moors & Cabot, Inc. RIA/Wealth	Michael Christopher Hildreth CEO	$9.7M 0.42% of portfolio	1.14% 530.3K shares	Q3 2022 Held for 3y 2m	$2.3B
Hosking Partners LLP Hedge Fund•Value	Luke Robinson Orlando Bridgeman Partner	$5.6M 0.20% of portfolio	0.66% 307.5K shares	Q2 2022 Held for 3y 5m	$2.8B
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	Wayne Michael Bloom CEO	$5.3M 0.01% of portfolio	0.62% 290.6K shares	Q1 2023 Held for 2y 8m	$71.1B
J JANE STREET GROUP, LLC Institution	-	$4.8M 0.01% of portfolio	0.56% 262.4K shares	Q4 2024 Held for 11 months	$84.1B
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$4.5M 0.00% of portfolio	0.53% 247.4K shares	Q2 2020 Held for 5y 5m	$122.08B

Net Capital Flow

Institutional buying and selling activity for PBT in Q3 2025

Traded: +$4.6M
Buyers: 47
Sellers: 30
Total Bought: +$19.7M
Total Sold: −$15.1M
Avg Position: $3.4M

Biggest Buyers

Institution	Net Bought	Current Position
HORIZON KINETICS ASSET MANAGEMENT LLC Long Only Manager	+$4.7M +259.2K shares	$111.3M 6.1M shares
J JANE STREET GROUP, LLC Institution	+$3.9M +216.1K shares	$4.8M 262.4K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$2.2M +118.1K shares	$2.2M 118.1K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$1.9M +105.3K shares	$4.5M 247.4K shares
UBS Group AG Institution	+$1.7M +92.9K shares	$2.7M 147.6K shares
MRM-Horizon Advisors LLC Fund of Funds	+$699.2K +38.3K shares	$16.8M 922.2K shares
S SIMPLEX TRADING, LLC Institution	+$648.5K +35.5K shares	$838.0K 45.9K shares
HighTower Advisors, LLC RIA/Wealth	+$557.8K +30.6K shares	$1.3M 71.1K shares
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	+$453.6K +24.9K shares	$5.3M 290.6K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$392.3K +21.5K shares	$1.6M 86.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
SCHWARTZ INVESTMENT COUNSEL INC Long Only Manager	−$8.5M −465.0K shares	$18.0M 984.7K shares
MORGAN STANLEY RIA/Wealth	−$2.7M −147.6K shares	$2.7M 145.9K shares
Beacon Pointe Advisors, LLC RIA/Wealth	−$1.7M −93.5K shares	$823.9K 45.1K shares
G GROUP ONE TRADING, L.P. Institution	−$414.9K −22.7K shares	$3.2M 175.0K shares
Capital Analysts, Inc. RIA/Wealth	−$290.9K −15.9K shares	$992.5K 54.4K shares
Q Quadrature Capital Ltd Institution	−$231.7K −18.6K shares	Sold Off 0 shares
P PEAK6 LLC Institution	−$196.0K −15.7K shares	Sold Off 0 shares
X XTX Topco Ltd Institution	−$187.5K −15.1K shares	Sold Off 0 shares
Cambridge Investment Research Advisors, Inc. RIA/Wealth	−$154.3K −12.4K shares	Sold Off 0 shares
B BRADLEY FOSTER & SARGENT INC/CT RIA/Wealth	−$142.7K −7.8K shares	$678.5K 37.2K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited PBT in Q3 2025

New Positions: 6
New Value: $707.0K
Exited Positions: 10
Exited Value: $905.5K

New Positions

Institution	Position Value
C CI Private Wealth, LLC RIA/Wealth	$344.0K 18.8K shares
SCS Capital Management LLC RIA/Wealth	$317.8K 17.3K shares
FOSTER DYKEMA CABOT & PARTNERS, LLC RIA/Wealth	$40.3K 2.2K shares
PFS Partners, LLC RIA/Wealth	$3.7K 200.0 shares
T TD Waterhouse Canada Inc. Institution	$824.0 45.0 shares
Farther Finance Advisors, LLC RIA/Wealth	$456.0 25.0 shares

Exited Positions

Institution	Previous Position
Q Quadrature Capital Ltd Institution	$231.7K 18.6K shares
P PEAK6 LLC Institution	$196.0K 15.7K shares
X XTX Topco Ltd Institution	$187.5K 15.1K shares
Cambridge Investment Research Advisors, Inc. RIA/Wealth	$154.3K 12.4K shares
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$113.9K 9.1K shares
B BOKF, NA Institution	$5.8K 462.0 shares
Mid-American Wealth Advisory Group, Inc. RIA/Wealth	$5.4K 437.0 shares
Caitong International Asset Management Co., Ltd RIA/Wealth	$4.8K 389.0 shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	$3.7K 300.0 shares
Ameritas Advisory Services, LLC RIA/Wealth	$2.3K 182.0 shares

Options Activity

Institutions with the largest Call and Put options positions in PBT as of Q3 2025

Call Positions: 3
Call Value: $1.7M
Put Positions: 4
Put Value: $16.6M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.4M 742.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$321.2K 176.0 contracts
MRM-Horizon Advisors LLC Fund of Funds	- - contracts

Put Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$8.1M 4.4K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.8M 2.7K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.7M 2.0K contracts
P PEAK6 LLC Institution	- - contracts

Most Committed Institutions

Institutions with PBT as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
S SoftVest Advisors, LLC Hedge Fund•Multi-Strategy	Eric Lee Oliver President	23.59% $113.5M	13.34% 6.2M shares	Q1 2020 Held for 5y 8m	$480.9M
MRM-Horizon Advisors LLC Fund of Funds	Richard William Silver Managing Partner	7.21% $16.8M	1.98% 922.2K shares	Q2 2025 Held for 5 months	$233.4M
FOUNDATION RESOURCE MANAGEMENT INC Long Only Manager	Meredith Humphrey Moll President	1.68% $11.7M	1.38% 642.5K shares	≤ Q2 2013 Held for 12y 5m+	$696.0M
Atlas Wealth Partners, LLC RIA/Wealth	Michael Joseph Janvrin Managing Partner	1.59% $1.6M	0.18% 84.6K shares	Q3 2024 Held for 1y 2m	$97.7M
HORIZON KINETICS ASSET MANAGEMENT LLC Long Only Manager	Murray Stahl CEO	1.37% $111.3M	13.09% 6.1M shares	Q1 2019 Held for 6y 8m	$8.1B
P PROMETHIUM ADVISORS,LLC RIA/Wealth	Christopher Francis Poch Founder	0.72% $1.3M	0.15% 68.4K shares	Q4 2024 Held for 11 months	$175.2M
SCHWARTZ INVESTMENT COUNSEL INC Long Only Manager	Timothy Steven Schwartz CEO	0.60% $18.0M	2.11% 984.7K shares	Q4 2022 Held for 2y 11m	$3.0B
B BWM Planning, LLC Institution	-	0.57% $1.9M	0.22% 104.4K shares	Q3 2024 Held for 1y 2m	$336.1M
Moors & Cabot, Inc. RIA/Wealth	Michael Christopher Hildreth CEO	0.42% $9.7M	1.14% 530.3K shares	Q3 2022 Held for 3y 2m	$2.3B
Hosking Partners LLP Hedge Fund•Value	Luke Robinson Orlando Bridgeman Partner	0.20% $5.6M	0.66% 307.5K shares	Q2 2022 Held for 3y 5m	$2.8B

Hedge Fund Spotlight

Discover hedge funds investing in PBT

SoftVest Advisors, LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerEric Lee Oliver

Portfolio Value: $480.9M
Positions: 2
Last Reported: Q3 2025

Sector Allocation

Position in Permian Basin Royalty Trust

Market Value: $113.5M
Shares Held: 6.2M
Portfolio Weight: 23.59%
Owned Since: 2020-Q1

Top Holding	Sector	Market Value	Weight
1 Texas Pacific Land TPL	Oil & Gas Exploration & Production Energy	$367.5M	76.41%
2 Permian Basin Royalty Trust PBT	Oil & Gas Midstream Energy	$113.5M	23.59%

View full profile

Permian Basin Royalty Trust

Overview

All Institutions

Hedge Funds

Ownership Breakdown

Biggest Investors

Net Capital Flow

Biggest Buyers

Biggest Sellers

Entry and Exit Activity

New Positions

Exited Positions

Options Activity

Call Positions

Put Positions

Most Committed Institutions

Hedge Fund Spotlight

Position in Permian Basin Royalty Trust

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