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PBT

Permian Basin Royalty Trust
PBT

66 hedge funds and large institutions have $35M invested in Permian Basin Royalty Trust in 2016 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 16 increasing their positions, 16 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

197% more call options, than puts

Call options by funds: $404K | Put options by funds: $136K

50% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 6

3% more funds holding

Funds holding: 64 → 66 (+2)

0% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 16

0.65% less ownership

Funds ownership: 11.41% → 10.77% (-0.65%)

10% less capital invested

Capital invested by funds: $39M → $35M (-$4.03M)

Holders
66
Holders Change
+2
Holders Change %
+3.13%
% of All Funds
1.76%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
9
Increased
16
Reduced
16
Closed
6
Calls
$404K
Puts
$136K
Net Calls
+$268K
Net Calls Change
+$271K

Top Buyers

Rank Fund Capital Flow
1
HK
Horizon Kinetics
New York
+$355K
2
Renaissance Technologies
Renaissance Technologies
New York
+$231K
3
Two Sigma Investments
Two Sigma Investments
New York
+$219K
4
Deutsche Bank
Deutsche Bank
Germany
+$219K
5
HC
Hawkins Capital
Texas
+$156K

Top Sellers

Rank Fund Capital Flow
1
APCM
Arbiter Partners Capital Management
New York
-$2.79M
2
ANTB
AMG National Trust Bank
Colorado
-$369K
3
Luther King Capital Management (LKCM)
Luther King Capital Management (LKCM)
Texas
-$86K
4
Citadel Advisors
Citadel Advisors
Florida
-$75K
5
Morgan Stanley
Morgan Stanley
New York
-$55.9K
Name Holding Trade Value Shares
Change 		Change in
Stake
EEG
26
E.E. Geduld
$139K -$34.8K -5,000 -20%
CCM
27
Catawba Capital Management
Virginia
$139K – – –
VKH
28
Virtu KCG Holdings
New York
$139K +$139K +19,965 New
FIM
29
Fruth Investment Management
Texas
$138K – – –
LTFS
30
Ladenburg Thalmann Financial Services
Florida
$130K +$940 +135 +0.7%
Cambridge Investment Research Advisors
31
Cambridge Investment Research Advisors
Iowa
$121K -$20.6K -2,959 -15%
FWCM
32
Ferguson Wellman Capital Management
Oregon
$112K – – –
Millennium Management
33
Millennium Management
New York
$111K +$111K +15,974 New
PNC Financial Services Group
34
PNC Financial Services Group
Pennsylvania
$104K +$1.34K +193 +1%
SPC
35
Sigma Planning Corp
Michigan
$87K +$1.42K +204 +2%
AG
36
Advisor Group
Arizona
$82K +$251 +36 +0.3%
DI
37
Diligent Investors
California
$80K – – –
BMO
38
Beck Mack & Oliver
New York
$77K – – –
Creative Planning
39
Creative Planning
Kansas
$77K +$1.39K +200 +2%
First Manhattan
40
First Manhattan
New York
$69K – – –
TPWA
41
TRUE Private Wealth Advisors
Oregon
$69K – – –
JP Morgan Chase
42
JP Morgan Chase
New York
$43K +$31.7K +4,551 +294%
Royal Bank of Canada
43
Royal Bank of Canada
Ontario, Canada
$41K +$28 +4 +0.1%
GT
44
Glenmede Trust
Pennsylvania
$34K – – –
US Bancorp
45
US Bancorp
Minnesota
$31K +$13.9K +2,000 +83%
CFA
46
Carroll Financial Associates
North Carolina
$22K – – –
IA
47
IFP Advisors
Florida
$22K – – –
ANBT
48
American National Bank & Trust
Texas
$20K – – –
CG
49
Cutler Group
California
$15K – – –
ASN
50
Advisory Services Network
Georgia
$14K +$13.9K +1,994 New
1
2
3

PBT Hedge Fund Activity: Q3 2016 in Review

66 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Permian Basin Royalty Trust (PBT) for Q3 2016, worth a combined $35M — down 10% from $39M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new PBT positions and 6 closed out — a net gain of 3 holders — while 16 added to existing stakes and 16 trimmed.

The largest buyer was Horizon Kinetics, adding an estimated $355K. The largest seller was Arbiter Partners Capital Management, cutting an estimated $2.79M.

  • 66 institutional investors held Permian Basin Royalty Trust (PBT) as of Q3 2016, up from 64 in Q2 2016.
  • Funds reported $35M of Permian Basin Royalty Trust stock for Q3 2016, down 10% quarter-over-quarter.
  • 9 funds opened new Permian Basin Royalty Trust positions in Q3 2016 and 6 closed out, a net change of +3 holders.
  • The largest Permian Basin Royalty Trust buyer in Q3 2016 was Horizon Kinetics, an estimated $355K added.
  • The largest Permian Basin Royalty Trust seller in Q3 2016 was Arbiter Partners Capital Management, an estimated $2.79M sold.

Based on aggregated 13F filings for Q3 2016.