# EDGAR Filing Document

**Accession Number:** 0002077837
**File Stem:** 0001104659-25-069621
**Filing Date:** 2025-7
**Character Count:** 11031
**Document Hash:** 42a4f7744b6624b1574ed1fd2de1304a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-069621.hdr.sgml**: 20250722

**ACCESSION NUMBER**: 0001104659-25-069621

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250603

**FILED AS OF DATE**: 20250722

**DATE AS OF CHANGE**: 20250722

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** SoftVest, LP
- **CENTRAL INDEX KEY:** 0001406386

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08033
- **FILM NUMBER:** 251140472

**BUSINESS ADDRESS:**
- **STREET 1:** 400 PINE STREET STE 1010
- **CITY:** ABILENE
- **STATE:** TX
- **ZIP:** 79601
- **BUSINESS PHONE:** (325)677-6177

**MAIL ADDRESS:**
- **STREET 1:** 400 PINE STREET STE 1010
- **CITY:** ABILENE
- **STATE:** TX
- **ZIP:** 79601
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** OLIVER ERIC L
- **CENTRAL INDEX KEY:** 0001168602

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08033
- **FILM NUMBER:** 251140474

**MAIL ADDRESS:**
- **STREET 1:** 303 W WALL
- **STREET 2:** SUITE 1700
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79701
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** SoftVest GP I, LLC
- **CENTRAL INDEX KEY:** 0002077837

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08033
- **FILM NUMBER:** 251140471

**BUSINESS ADDRESS:**
- **STREET 1:** 400 PINE STREET
- **STREET 2:** SUITE 1010
- **CITY:** ABILENE
- **STATE:** TX
- **ZIP:** 79601
- **BUSINESS PHONE:** (325) 677-6177

**MAIL ADDRESS:**
- **STREET 1:** 400 PINE STREET
- **STREET 2:** SUITE 1010
- **CITY:** ABILENE
- **STATE:** TX
- **ZIP:** 79601
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** SoftVest Advisors, LLC
- **CENTRAL INDEX KEY:** 0001803391

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08033
- **FILM NUMBER:** 251140473

**BUSINESS ADDRESS:**
- **STREET 1:** 400 PINE STREET
- **STREET 2:** SUITE 1010
- **CITY:** ABILENE
- **STATE:** TX
- **ZIP:** 79601
- **BUSINESS PHONE:** 325-677-6177

**MAIL ADDRESS:**
- **STREET 1:** 400 PINE STREET
- **STREET 2:** SUITE 1010
- **CITY:** ABILENE
- **STATE:** TX
- **ZIP:** 79601
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PERMIAN BASIN ROYALTY TRUST
- **CENTRAL INDEX KEY:** 0000319654
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL ROYALTY TRADERS [6792]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 756280532
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ARGENT TRUST COMPANY
- **STREET 2:** 3838 OAK LAWN AVE., SUITE 1720
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75219-4518
- **BUSINESS PHONE:** 9729191360

**MAIL ADDRESS:**
- **STREET 1:** C/O ARGENT TRUST COMPANY
- **STREET 2:** 3838 OAK LAWN AVE., SUITE 1720
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75219-4518

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>OLIVER ERIC L<br><sub>(Last) (First) (Middle)</sub><br>400 PINE STREET, SUITE 1010<br><sub>(Street)</sub><br>ABELINE, TX 79601<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>PERMIAN BASIN ROYALTY TRUST [ PBT ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2025-06-03 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [X] 10% Owner<br>[ ] Officer (give title below)   [ ] Other (specify below)<br>_ _ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>SoftVest Advisors, LLC<br><sub>(Last) (First) (Middle)</sub><br>400 PINE STREET, SUITE 1010<br><sub>(Street)</sub><br>ABELINE, TX 79601<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>PERMIAN BASIN ROYALTY TRUST [ PBT ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2025-06-03 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [X] 10% Owner<br>[ ] Officer (give title below)   [ ] Other (specify below)<br>_ _ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>SoftVest, LP<br><sub>(Last) (First) (Middle)</sub><br>400 PINE STREET, SUITE 1010<br><sub>(Street)</sub><br>ABELINE, TX 79601<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>PERMIAN BASIN ROYALTY TRUST [ PBT ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2025-06-03 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [X] 10% Owner<br>[ ] Officer (give title below)   [ ] Other (specify below)<br>_ _ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>SoftVest GP I, LLC<br><sub>(Last) (First) (Middle)</sub><br>400 PINE STREET, SUITE 1010<br><sub>(Street)</sub><br>ABELINE, TX 79601<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>PERMIAN BASIN ROYALTY TRUST [ PBT ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2025-06-03 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [X] 10% Owner<br>[ ] Officer (give title below)   [ ] Other (specify below)<br>_ _ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |
| Units of Beneficial Ownership | 6060000 | I | By SoftVest, LP<sup>(1)</sup> |
| Units of Beneficial Ownership | 4500 | I | By Debeck LLC<sup>(2)</sup> |
| Units of Beneficial Ownership | 4500 | I | By Debeck Properties<sup>(2)</sup> |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| Short Put Option (obligation to buy) | <sup>(3)</sup> | 2025-06-20 | Units of Beneficial Ownership | 271100 | $10 | I | By SoftVest, LP<sup>(1)</sup> |
| Short Put Option (obligation to buy) | <sup>(3)</sup> | 2025-09-19 | Units of Beneficial Ownership | 772300 | $10 | I | By SoftVest, LP<sup>(1)</sup> |
| Short Put Option (obligation to buy) | <sup>(3)</sup> | 2025-09-19 | Units of Beneficial Ownership | 86400 | $7.5 | I | By SoftVest, LP<sup>(1)</sup> |
| Short Put Option (obligation to buy) | <sup>(3)</sup> | 2025-12-19 | Units of Beneficial Ownership | 396500 | $12.5 | I | By SoftVest, LP<sup>(1)</sup> |
| Short Put Option (obligation to buy) | <sup>(3)</sup> | 2025-12-19 | Units of Beneficial Ownership | 100 | $15 | I | By SoftVest, LP<sup>(1)</sup> |
| Short Put Option (obligation to buy) | <sup>(3)</sup> | 2025-06-20 | Units of Beneficial Ownership | 2500 | $12.5 | I | By SoftVest, LP<sup>(1)</sup> |

---

### Footnotes:

(1) Directly held by SoftVest, LP. SoftVest Advisors, LLC is the investment manager of SoftVest, LP, SoftVest GP I, LLC is the general partner of SoftVest, LP, and Eric Lee Oliver is the managing member of SoftVest GP I, LLC. As a result, each of SoftVest, SoftVest GP I, LLC and Eric Lee Oliver may be deemed to beneficially own the securities beneficially owned by SoftVest, LP. Mr. Oliver disclaims any beneficial ownership with respect to the securities held by SoftVest, LP except to the extent of his pecuniary therein.

(2) Represents shares of securities owned by Debeck LLC and Debeck Properties LP, which Mr. Oliver controls. Mr. Oliver has sole voting and dispositive power with respect to such securities, but Mr. Oliver disclaims any beneficial ownership with respect to such securities except to the extent of his pecuniary therein.

(3) Each option is exercisable by the holder of the option on or prior to the expiration date.

**Signature:** /s/ Eric Lee. Oliver  
**Date:** 2025-07-22

**Signature:** SoftVest Advisors, LLC By: /s/ Eric Lee Oliver, Managing Member  
**Date:** 2025-07-22

**Signature:** SoftVest, LP By: SoftVest GP I, LLC, its general partner By: /s/ Eric Lee Oliver, Managing Member  
**Date:** 2025-07-22

**Signature:** SoftVest GP I, LLC By: /s/ Eric Lee Oliver, Managing Member  
**Date:** 2025-07-22

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**