Permian Basin Royalty Trust
95 hedge funds and large institutions have $357M invested in Permian Basin Royalty Trust in 2025 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 36 increasing their positions, 20 reducing their positions, and 11 closing their positions.
80% more repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 20
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
48% more capital invested
Capital invested by funds: $241M → $357M (+$116M)
0.49% more ownership
Funds ownership: 41.45% → 41.94% (+0.49%)
0% more funds holding
Funds holding: 95 → 95 (0)
0% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 11
91% less call options, than puts
Call options by funds: $2.23M | Put options by funds: $25.5M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HKAM
Horizon Kinetics Asset Management
New York
|
+$4.04M |
| 2 |
Jane Street
New York
|
+$3.37M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$1.84M |
| 4 |
Citadel Advisors
Miami,
Florida
|
+$1.64M |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$1.45M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SIC
Schwartz Investment Counsel
Plymouth,
Michigan
|
-$7.25M |
| 2 |
Morgan Stanley
New York
|
-$2.3M |
| 3 |
BPA
Beacon Pointe Advisors
Newport Beach,
California
|
-$1.46M |
| 4 |
Group One Trading
Chicago,
Illinois
|
-$354K |
| 5 |
CAL
Capital Analysts LLC
Fort Washington,
Pennsylvania
|
-$248K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
BF
101
BOK Financial
Tulsa,
Oklahoma
| – | -$5.76K | -462 | Closed |
|
|
MAWAG
102
Mid-American Wealth Advisory Group
Kansas City,
Missouri
| – | -$5.43K | -437 | Closed |
|
|
CIAM
103
Caitong International Asset Management
Hong Kong
| – | -$4.85K | -389 | Closed |
|
104
US Bancorp
Minneapolis,
Minnesota
| – | -$3.74K | -300 | Closed |
|
|
AAS
105
Ameritas Advisory Services
Lincoln,
Nebraska
| – | -$2.27K | -182 | Closed |
|
|
EWP
106
Elevation Wealth Partners
Santa Rosa,
California
| – | -$1.24K | -100 | Closed |
|
PBT Hedge Fund Activity: Q3 2025 in Review
95 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Permian Basin Royalty Trust (PBT) for Q3 2025, worth a combined $357M — up 48% from $241M a quarter earlier.
Fund positioning in PBT was balanced in Q3 2025: 11 funds opened new positions, 11 closed out, 36 added to existing stakes and 20 trimmed.
The largest buyer was Horizon Kinetics Asset Management, adding an estimated $4.04M. The largest seller was Schwartz Investment Counsel, cutting an estimated $7.25M.
- 95 institutional investors held Permian Basin Royalty Trust (PBT) as of Q3 2025, unchanged from Q2 2025.
- Funds reported $357M of Permian Basin Royalty Trust stock for Q3 2025, up 48% quarter-over-quarter.
- 11 funds opened new Permian Basin Royalty Trust positions in Q3 2025 and 11 closed out, a net change of 0 holders.
- The largest Permian Basin Royalty Trust buyer in Q3 2025 was Horizon Kinetics Asset Management, an estimated $4.04M added.
- The largest Permian Basin Royalty Trust seller in Q3 2025 was Schwartz Investment Counsel, an estimated $7.25M sold.
Based on aggregated 13F filings for Q3 2025.