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PBT

Permian Basin Royalty Trust
PBT

83 hedge funds and large institutions have $51M invested in Permian Basin Royalty Trust in 2015 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 26 increasing their positions, 24 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

8% more repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 24

1.45% less ownership

Funds ownership: 14.8% → 13.35% (-1.5%)

5% less funds holding

Funds holding: 87 → 83 (-4)

21% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 14

23% less capital invested

Capital invested by funds: $65.8M → $51M (-$14.8M)

41% less call options, than puts

Call options by funds: $307K | Put options by funds: $521K

Holders
83
Holders Change
-4
Holders Change %
-4.6%
% of All Funds
2.21%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
26
Reduced
24
Closed
14
Calls
$307K
Puts
$521K
Net Calls
-$214K
Net Calls Change
+$39K

Top Buyers

Rank Fund Capital Flow
1
RA
Royce & Associates
New York
+$4.88M
2
ANTB
AMG National Trust Bank
Colorado
+$322K
3
PFS
Prospera Financial Services
Texas
+$245K
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$225K
5
HighTower Advisors
HighTower Advisors
Illinois
+$137K

Top Sellers

Rank Fund Capital Flow
1
MGAM
McGowan Group Asset Management
Texas
-$3.16M
2
Two Sigma Investments
Two Sigma Investments
New York
-$1.24M
3
B
Baird
Wisconsin
-$1.07M
4
Two Sigma Advisers
Two Sigma Advisers
New York
-$1.04M
5
Millennium Management
Millennium Management
New York
-$818K
Name Holding Trade Value Shares
Change 		Change in
Stake
FIM
26
Fruth Investment Management
Texas
$305K – – –
CCM
27
Catawba Capital Management
Virginia
$287K – – –
William Blair & Company
28
William Blair & Company
Illinois
$266K +$33.1K +3,500 +12%
Millennium Management
29
Millennium Management
New York
$257K -$818K -86,652 -73%
DI
30
Diligent Investors
California
$210K – – –
SCM
31
Sterling Capital Management
North Carolina
$203K +$28.3K +3,000 +14%
US Bancorp
32
US Bancorp
Minnesota
$191K +$4.72K +500 +2%
Cambridge Investment Research Advisors
33
Cambridge Investment Research Advisors
Iowa
$184K +$642 +68 +0.3%
JP Morgan Chase
34
JP Morgan Chase
New York
$170K – – –
ACM
35
Argentus Capital Management
Texas
$151K +$1.52K +161 +0.9%
Luther King Capital Management (LKCM)
36
Luther King Capital Management (LKCM)
Texas
$150K – – –
Commonwealth Equity Services
37
Commonwealth Equity Services
Massachusetts
$149K +$2.73K +289 +2%
SCM
38
Stevens Capital Management
Pennsylvania
$123K +$5.09K +539 +4%
JWBC
39
J.W. Burns & Co
New York
$117K -$22.4K -2,375 -14%
GAM
40
Gotham Asset Management
New York
$116K -$27.7K -2,931 -17%
BRWM
41
B. Riley Wealth Management
Tennessee
$115K -$37.8K -4,000 -22%
SPC
42
Sigma Planning Corp
Michigan
$109K -$8.24K -873 -6%
EWM
43
Edge Wealth Management
New York
$98K +$113K +12,000 New
AIG
44
American International Group
New York
$90.8K +$18.5K +1,957 +21%
TYCC
45
Texas Yale Capital Corp
Florida
$87K – – –
Creative Planning
46
Creative Planning
Kansas
$87K +$25K +2,647 +33%
CNB
47
City National Bank
California
$81K – – –
PCM
48
Perritt Capital Management
Illinois
$81K +$94.4K +10,000 New
WT
49
Whittier Trust
California
$57K +$66.1K +7,000 New
MSE
50
MUFG Securities EMEA
United Kingdom
$41K +$5.67K +600 +13%
1
2
3 4

PBT Hedge Fund Activity: Q1 2015 in Review

83 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Permian Basin Royalty Trust (PBT) for Q1 2015, worth a combined $51M — down 23% from $65.8M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of PBT and 11 opened new positions — a net loss of 3 holders — while 24 trimmed existing stakes and 26 added.

The largest buyer was Royce & Associates, adding an estimated $4.88M. The largest seller was McGowan Group Asset Management, exiting entirely with an estimated $3.16M sold.

  • 83 institutional investors held Permian Basin Royalty Trust (PBT) as of Q1 2015, down from 87 in Q4 2014.
  • Funds reported $51M of Permian Basin Royalty Trust stock for Q1 2015, down 23% quarter-over-quarter.
  • 11 funds opened new Permian Basin Royalty Trust positions in Q1 2015 and 14 closed out, a net change of -3 holders.
  • The largest Permian Basin Royalty Trust buyer in Q1 2015 was Royce & Associates, an estimated $4.88M added.
  • The largest Permian Basin Royalty Trust seller in Q1 2015 was McGowan Group Asset Management, an estimated $3.16M sold.

Based on aggregated 13F filings for Q1 2015.