SoftVest Advisors, LLC

Portfolio Overview

SoftVest Advisors, LLC disclosed 5 positions worth $872.1M in its Form 13F-HR for Q1 2026 — $645.2M in common stock plus $226.9M of put/call option positions (reported at underlying notional value, not premium at risk), led by $TPL (Texas Pacific Land Corp) at 78.1% of the equity portfolio, followed by $TPL and $PBT. During the quarter the fund opened 2 new positions and exited 0 — including a new stake in $TPL. The portfolio is most concentrated in Financials (100.0% of disclosed assets). All figures are sourced directly from SoftVest Advisors, LLC’s Form 13F-HR filing with the SEC under CIK 1803391.

• 

  Texas Pacific Land Corp

  $TPL

  79.1#63

  Quality

  $504.0M1,062,099 sh
• 

  Texas Pacific Land Corp

  $TPL PUT

  79.1#63

  Quality

  $194.1M409,100 sh
• 

  PERMIAN BASIN ROYALTY TRUST

  $PBT

  —

  Quality

  $133.8M6,217,107 sh

• SPDR SERIES TRUST PUT

  —

  Quality

  $32.7M180,000 sh
• 

  CROSS TIMBERS ROYALTY TRUST

  $CRT

  —

  Quality

  $7.4M697,893 sh

Company	Quality	Value	Shares
Texas Pacific Land Corp$TPL	79.1#63	$504.0M	1,062,099
Texas Pacific Land Corp$TPLPUT	79.1#63	$194.1M	409,100
PERMIAN BASIN ROYALTY TRUST$PBT	—	$133.8M	6,217,107
SPDR SERIES TRUST PUT	—	$32.7M	180,000
CROSS TIMBERS ROYALTY TRUST$CRT	—	$7.4M	697,893

Showing top 5 of 5 holdings.

Full Holdings — SoftVest Advisors, LLC (Q1 2026)

All 5 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$TPL	Texas Pacific Land Corp	$504.0M	78.1%	-10%	79.1
2	$TPLPUT	Texas Pacific Land Corp	$194.1M	—	NEW	79.1
3	$PBT	PERMIAN BASIN ROYALTY TRUST	$133.8M	20.7%	+0%	—
4	—	SPDR SERIES TRUST	$32.7M	—	+117%	—
5	$CRT	CROSS TIMBERS ROYALTY TRUST	$7.4M	1.1%	NEW	—