SoftVest Advisors, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), SoftVest Advisors, LLC reported 2 stock positions worth $492.8 million. Its top holding was Texas Pacific Land (TPL) at 84.3% of the portfolio, followed by Permian Basin Royalty Trust (PBT, 15.7%). Compared with Q1 2025, it added to 1. The biggest buy was Permian Basin Royalty Trust (PBT, shares +40%).

Most Recent 13F
Q2 2026
Location
ABILENE, TX
CIK
0001803391
Portfolio Value
$492.8M (Q2 2025)
SEC Filing
0001420506-25-002166 ↗ filed Aug 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $280.5M Q1 2024 Q2 2024: $339.2M Q2 2024 Q3 2024: $401.7M Q3 2024 Q4 2024: $499.5M Q4 2024 Q1 2025: $565.0M Q1 2025 Q2 2025: $492.8M $492.8M Q2 2025 Q3 2025: $480.9M Q3 2025 Q4 2025: $444.7M Q4 2025 Q1 2026: $645.2M Q1 2026 Q2 2026: $628.9M Q2 2026

Holdings 2 stocks · $492.8M
TPL Texas Pacific Land Corp. 84.31% 393,300 $415.5M No change
PBT Permian Basin Royalty Trust 15.69% 6,206,624 $77.3M Add +40.1%

Options reported separately and not counted above: SPY puts ($123.6M), XOP puts ($109.2M), XOP calls ($56.6M), ARLP calls ($13.1M).

Portfolio Sells Q1 2025 → Q2 2025
None this quarter.

Portfolio Buys Q1 2025 → Q2 2025
PBT Permian Basin Royalty Trust Add +40.1% 15.69% +7.92

Options Activity Q1 2025 → Q2 2025
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -55.6% 200,000 $123.6M
XOP SS SPDR S&P Og Exp & Prod put Reduce -50.7% 868,000 $109.2M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 3$628.9MTPL, PBT, CRT
Q1 2026 3$645.2MTPL, PBT, CRT
Q4 2025 2$444.7MTPL, PBT
Q3 2025 2$480.9MTPL, PBT
Q2 2025 2$492.8MTPL, PBT
Q1 2025 2$565.0MTPL, PBT
Q4 2024 3$499.5MTPL, PBT, TLT
Q3 2024 3$401.7MTPL, PBT, ARLP
Q2 2024 3$339.2MTPL, PBT, ARLP
Q1 2024 3$280.5MTPL, PBT, ARLP