Permian Basin Royalty Trust: which funds bought and sold

Institutions that bought and sold Permian Basin Royalty Trust shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 45 institutions that filed 13F reports for both quarters added to or opened positions in Permian Basin Royalty Trust, and 34 cut or closed them. Together they added a net 293K shares, +1.5% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 250K shares (−82.7%); index fund managers held the same number of shares overall. 16 opened a new position and 9 sold out entirely.

Bought, Q2 2026 45 institutions, 16 of them new holders Sold, Q2 2026 34 institutions, 9 of them sold out

Net change, all compared +293K shares (+1.5%)

Net change, active managers −250K shares (−82.7%), 1 bought, 2 sold

Buyers versus sellers

institutions compared, 110

45 bought 31 34 sold

Active managers and hedge funds 1 bought · 2 sold · −250K

Index fund managers 0 bought · 0 sold · 0

Other institutions 44 bought · 32 sold · +543K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Horizon Kinetics Asset Management LLC	+350K +5.5%	6.7M	$169M
Commonwealth Equity Services, LLC	+155K +57.7%	424K	$10.6M
HRT Financial LP	+105K +61.6%	276K	$6.9M
Beacon Pointe Advisors, LLC	+55K +35.1%	213K	$5.3M
Jane Street Group, LLC	+52K +233.8%	74K	$1.9M
Pks Advisory Services, LLC	+41K New position	41K	$1M
Xtx Topco Ltd	+33K New position	33K	$834,984
Walleye Capital LLC Hedge fund	+30K +285.8%	40K	$1M
Family Manage LLC	+21K +96.8%	43K	$1.1M
UBS Group AG	+20K +55.9%	55K	$1.4M
Group One Trading LLC	+17K +367.2%	22K	$546,974
Royal Bank Of Canada	+14K +183.4%	21K	$534,000
Bank Of America Corp	+13K +24.9%	64K	$1.6M
Caption Management, LLC	+13K New position	13K	$317,082
Raymond James Financial Inc	+11K +13.2%	95K	$2.4M
CIBC Bancorp Usa Inc.	+10K New position	10K	$254,006
Foundations Investment Advisors, LLC	+9,950 New position	9,950	$249,148
Fourpath Capital Management, LLC	+9,271 New position	9,271	$232,146
Ethos Financial Group, LLC	+8,500 New position	8,500	$247,690
Tidal Investments LLC	+8,441 New position	8,441	$211,363

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Walleye Capital LLC Hedge fund	+30K +285.8%	40K	$1M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Hosking Partners LLP Active manager	−280K Sold out	0	—
Sei Investments Co	−211K −50.0%	211K	$5.3M
Morgan Stanley	−95K −31.5%	206K	$5.2M
Capital Analysts, LLC	−23K −40.0%	35K	$865,000
Moors & Cabot, Inc.	−18K −3.1%	570K	$14.3M
Jpmorgan Chase & Co	−17K −13.6%	109K	$2.7M
LPL Financial LLC	−14K −6.4%	198K	$5M
Waverly Advisors, LLC	−13K Sold out	0	—
State Of Wyoming	−12K −75.1%	3,851	$96,429
Wells Fargo & Company	−11K −4.8%	220K	$5.5M
Russell Investments Group, Ltd.	−8,039 Sold out	0	—
Ingalls & Snyder LLC	−5,095 −27.9%	13K	$330,000
Lido Advisors, LLC	−4,195 −3.4%	118K	$3M
Foundation Resource Management Inc	−3,876 −0.6%	626K	$15.7M
Beese Fulmer Investment Management, Inc.	−3,300 −11.1%	26K	$658,978
Avondale Wealth Management	−2,920 −5.9%	46K	$1.2M
Golden State Wealth Management, LLC	−2,446 Sold out	0	—
Advisory Services Network, LLC	−1,841 −0.7%	250K	$6.2M
Barclays PLC	−1,803 Sold out	0	—
BNP Paribas Financial Markets	−1,306 −50.9%	1,262	$31,600

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Hosking Partners LLP Active manager	−280K Sold out	0	—
Quadrature Capital Ltd Hedge fund	−78 −0.6%	12K	$298,902

New positions

largest by value

Institution	Shares	Value June 30, 2026
Pks Advisory Services, LLC	41K	$1M
Xtx Topco Ltd	33K	$834,984
Caption Management, LLC	13K	$317,082
CIBC Bancorp Usa Inc.	10K	$254,006
Foundations Investment Advisors, LLC	9,950	$249,148
Ethos Financial Group, LLC	8,500	$247,690
Fourpath Capital Management, LLC	9,271	$232,146
Tidal Investments LLC	8,441	$211,363
Post Resch Tallon Group Inc.	8,402	$210,392
Argent Trust Co	8,000	$200,320

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Hosking Partners LLPActive manager	280K	$6M
Waverly Advisors, LLC	13K	$272,572
Russell Investments Group, Ltd.	8,039	$172,999
Golden State Wealth Management, LLC	2,446	$52,638
Barclays PLC	1,803	$38,801
Jones Financial Companies LLLP	303	$6,733
Mcguire Capital Advisors Inc	47	$1,012
Farther Finance Advisors, LLC	25	$512
Citigroup Inc	10	$215

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 101
Ten largest holders: 85.6%
Index fund managers: 0.0%
Active managers and hedge funds: 0.3%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	1	2	0	1	−250K	−82.7%
Index fund managers	0	0	0	0	0	—
Other institutions	44	32	16	8	+543K	+2.8%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Permian Basin Royalty Trust.

Only managers that filed a holdings report for both quarters are compared (110 here). 2 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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