SCHEDULE: SoftVest Entities Disclose 13.3% Stake in Permian Basin Royalty Trust

SoftVest Advisors, LLC, SoftVest GP I, LLC, SoftVest, LP, and Eric L. Oliver have jointly disclosed a beneficial ownership of 13.3% in Permian Basin Royalty Trust, totaling 6,206,624 Units of Beneficial Interest.

Summary

• SoftVest Advisors, LLC, SoftVest GP I, LLC, SoftVest, LP, and Eric L. Oliver (collectively, the "Reporting Persons") have filed an Amendment No. 4 to Schedule 13G, disclosing their beneficial ownership in Permian Basin Royalty Trust.
• The Reporting Persons collectively beneficially own 6,206,624 Units of Beneficial Interest in Permian Basin Royalty Trust.
• This ownership represents 13.3% of the total 46,608,796 Units of Beneficial Interest outstanding, as reported in the Issuer's Form 10-Q filed on May 14, 2025.
• SoftVest, LP directly holds the 6,206,624 Units. SoftVest Advisors, LLC acts as the investment manager for SoftVest, LP, SoftVest GP I, LLC is the general partner of SoftVest, LP, and Eric L. Oliver is the managing member of SoftVest GP I, LLC.
• The acquisition of these units was made in the ordinary course of business as a registered investment adviser and not with the purpose or effect of changing or influencing the control of Permian Basin Royalty Trust.
• Eric L. Oliver disclaims beneficial ownership of an additional 17,000 Units held by family members and partnerships for the benefit of Eric L. Oliver's family, except to the extent of any pecuniary interest.

Sentiment

Score: 5

Explanation: This is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the company's performance or prospects.

Future Outlook

NA

Management Comments

• 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

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant 13.3% stake by a group of investment entities could be viewed as a vote of confidence or could signal potential future engagement, depending on the nature of the investment group.

Key Dates

Keywords

Permian Basin Royalty Trust, SoftVest Advisors, SoftVest GP I, SoftVest LP, Eric L. Oliver, Beneficial Ownership, Schedule 13G, Units of Beneficial Interest, Investment Adviser, Royalty Trust, Oil and Gas