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PBT

Permian Basin Royalty Trust
PBT

94 hedge funds and large institutions have $148M invested in Permian Basin Royalty Trust in 2025 Q1 according to their latest regulatory filings, with 10 funds opening new positions, 30 increasing their positions, 23 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

30% more repeat investments, than reductions

Existing positions increased: 30 | Existing positions reduced: 23

11% more first-time investments, than exits

New positions opened: 10 | Existing positions closed: 9

1.03% more ownership

Funds ownership: 31% → 32.03% (+1%)

3% less funds holding

Funds holding: 97 → 94 (-3)

8% less capital invested

Capital invested by funds: $160M → $148M (-$12.2M)

46% less call options, than puts

Call options by funds: $2.55M | Put options by funds: $4.74M

Holders
94
Holders Change
-3
Holders Change %
-3.09%
% of All Funds
1.26%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.03%
New
10
Increased
30
Reduced
23
Closed
9
Calls
$2.55M
Puts
$4.74M
Net Calls
-$2.19M
Net Calls Change
-$1.74M

Top Buyers

Rank Fund Capital Flow
1
MRI
Mad River Investors
Massachusetts
+$2.44M
2
HKAM
Horizon Kinetics Asset Management
New York
+$2.04M
3
SIC
Schwartz Investment Counsel
Michigan
+$1.08M
4
Pathstone Holdings
Pathstone Holdings
New Jersey
+$681K
5
ASN
Advisory Services Network
Georgia
+$625K

Top Sellers

Rank Fund Capital Flow
1
MC
Moors & Cabot
Massachusetts
-$943K
2
LPL Financial
LPL Financial
California
-$599K
3
GM
GeoWealth Management
Illinois
-$550K
4
Jane Street
Jane Street
New York
-$465K
5
Raymond James Financial
Raymond James Financial
Florida
-$324K
Name Holding Trade Value Shares
Change 		Change in
Stake
FCG
26
Fielder Capital Group
Tennessee
$478K – – –
NC
27
Napatree Capital
Rhode Island
$457K +$257K +23,710 +105%
BFIM
28
Beese Fulmer Investment Management
Ohio
$328K – – –
ECM
29
EagleClaw Capital Management
Massachusetts
$314K -$32.5K -3,000 -9%
Susquehanna International Group
30
Susquehanna International Group
Pennsylvania
$311K -$11.8K -1,087 -3%
SOW
31
State of Wyoming
Wyoming
$308K +$142K +13,105 +73%
SPIA
32
Steward Partners Investment Advisory
New York
$306K +$15K +1,387 +5%
AWM
33
Avondale Wealth Management
Texas
$287K +$108K +10,000 +53%
HighTower Advisors
34
HighTower Advisors
Illinois
$287K -$2K -184 -0.6%
CAPTRUST Financial Advisors
35
CAPTRUST Financial Advisors
North Carolina
$284K – – –
Raymond James Financial
36
Raymond James Financial
Florida
$261K -$324K -29,878 -53%
FIM
37
Fruth Investment Management
Texas
$250K – – –
FSA
38
Financial Sense Advisors
California
$248K +$54.2K +5,000 +25%
Qube Research & Technologies (QRT)
39
Qube Research & Technologies (QRT)
United Kingdom
$219K +$33.2K +3,059 +16%
KWA
40
Kingswood Wealth Advisors
California
$218K -$138K -12,682 -36%
BTI
41
Blue Trust Inc
Georgia
$202K – – –
ISL
42
Ingalls & Snyder LLC
New York
$201K – – –
RFA
43
Resurgent Financial Advisors
Georgia
$198K – – –
CIA
44
Capital Investment Advisors
Georgia
$186K -$9.74K -898 -5%
WG
45
Welch Group
Alabama
$180K +$80.1K +7,384 +68%
State Street
46
State Street
Massachusetts
$176K +$31.7K +2,924 +20%
Group One Trading
47
Group One Trading
Illinois
$161K +$176K +16,253 New
AWM
48
Apollon Wealth Management
South Carolina
$155K +$3.1K +286 +2%
PHS
49
Pekin Hardy Strauss
Illinois
$154K +$27.1K +2,500 +19%
PI
50
PFG Investments
New York
$139K – – –
1
2
3 4 5

PBT Hedge Fund Activity: Q1 2025 in Review

94 of the 7,461 institutional investors tracked by Wall St. Rank reported a position in Permian Basin Royalty Trust (PBT) for Q1 2025, worth a combined $148M — down 7.6% from $160M a quarter earlier.

Buyers outnumbered sellers: 10 funds opened new PBT positions and 9 closed out — a net gain of 1 holder — while 30 added to existing stakes and 23 trimmed.

The largest buyer was Mad River Investors, adding an estimated $2.44M. The largest seller was Moors & Cabot, cutting an estimated $943K.

  • 94 institutional investors held Permian Basin Royalty Trust (PBT) as of Q1 2025, down from 97 in Q4 2024.
  • Funds reported $148M of Permian Basin Royalty Trust stock for Q1 2025, down 7.6% quarter-over-quarter.
  • 10 funds opened new Permian Basin Royalty Trust positions in Q1 2025 and 9 closed out, a net change of +1 holder.
  • The largest Permian Basin Royalty Trust buyer in Q1 2025 was Mad River Investors, an estimated $2.44M added.
  • The largest Permian Basin Royalty Trust seller in Q1 2025 was Moors & Cabot, an estimated $943K sold.

Based on aggregated 13F filings for Q1 2025.