SCHEDULE: SoftVest Group Discloses 10.49% Stake in Cross Timbers Royalty Trust

SoftVest Advisors, LLC and its affiliates have reported a 10.49% beneficial ownership stake in Cross Timbers Royalty Trust, totaling 629,384 Units of Beneficial Interest.

Summary

• SoftVest Advisors, LLC, SoftVest GP I, LLC, SoftVest, LP, and Eric L. Oliver collectively reported beneficial ownership of 629,384 Units of Beneficial Interest in Cross Timbers Royalty Trust.
• This ownership represents 10.49% of the 6,000,000 outstanding Units of Beneficial Interest, as reported in the Issuer's Form 10-Q filed on November 13, 2025.
• The Reporting Persons explicitly state that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the Issuer.
• SoftVest, LP directly holds the units, with SoftVest Advisors, LLC acting as its investment manager, SoftVest GP I, LLC as its general partner, and Eric L. Oliver as the managing member of both SoftVest Advisors, LLC and SoftVest GP I, LLC.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as a significant institutional stake can signal confidence in the trust's value proposition, even if it's a passive investment.

Positives

• A significant institutional investor group, SoftVest, has taken a substantial 10.49% stake, potentially signaling confidence in the trust's underlying assets or management.
• The explicit statement that the acquisition is in the ordinary course of business and not for control purposes can reduce concerns about immediate activist pressure or disruptive changes.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the Issuer's future performance or the Reporting Persons' future intentions beyond the statement that the securities were acquired and are held in the ordinary course of business.

Management Comments

• The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the Issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that effect.
• By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

Industry Context

StockSavvy.ai notes that royalty trusts, like Cross Timbers Royalty Trust, typically offer investors direct exposure to commodity prices and production volumes without the operational risks of exploration and production companies. A significant stake by an investment adviser group like SoftVest could indicate a strategic long-term view on the underlying assets or the income-generating potential of the trust, aligning with broader trends of institutional interest in yield-focused investments.

Comparison to Industry Standards

• This 10.49% stake by SoftVest is a substantial passive investment, typical for institutional investors seeking exposure to specific asset classes or income streams, similar to how funds might hold significant positions in other energy royalty trusts such as Permian Basin Royalty Trust or Hugoton Royalty Trust.
• The declaration that the stake is not for control purposes aligns with standard passive investment strategies, differentiating it from activist investor filings that often precede demands for corporate governance changes or strategic shifts.

Stakeholder Impact

• Shareholders may view the significant stake by SoftVest as a vote of confidence, potentially leading to increased investor interest or stability in the stock price.
• The declaration of passive investment intent suggests no immediate impact on the trust's management or operational strategy.

Key Dates

Recommendation

The filing indicates a significant, passive institutional investment in Cross Timbers Royalty Trust. While this signals confidence from a sophisticated investor, the filing itself does not provide new operational or financial performance data to warrant a 'buy' or 'sell' recommendation. It primarily confirms a substantial ownership position, suggesting a 'hold' is appropriate for existing investors, while new investors might consider it a positive signal for further due diligence.

Keywords

Cross Timbers Royalty Trust, SoftVest Advisors, SoftVest GP I, SoftVest LP, Eric L. Oliver, Schedule 13G, Beneficial Ownership, Units of Beneficial Interest, Institutional Investor, SEC Filing, Royalty Trust