SoftVest Advisors, LLC

ABILENE, TX · CIK 1803391 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$628.9m reported value -2.5% vs Q1 2026

3positions

100.0%in top 10

0 new 1 added 0 reduced 0 sold out vs Q1 2026

Options: 2 call positions ($24.5m notional), 4 put positions ($267.7m notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TEXAS PACIFIC LAND CORPORATI COM TPL	TPL	1,062,099	$464.8m73.91%	73.91%	Unchanged
2	PERMIAN BASIN RTY TR UNIT BEN INT PBT	PBT	6,217,107	$155.7m24.76%	24.76%	Unchanged
3	CROSS TIMBERS RTY TR TR UNIT CRT	CRT	924,960	$8.4m1.33%	1.33%	Added +227.1k	+227,067 32.5%

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
TEXAS PACIFIC LAND CORPORATI TPL · Put	TPL	Put	480,200	$210.2m480.2k shares	Added
SPDR SER TR XOP · Put	XOP	Put	180,000	$27.8m180.0k shares	Unchanged
ISHARES TR TLT · Call	TLT	Call	222,800	$19.2m222.8k shares	New
UNITED STS OIL FD LP USO · Put	USO	Put	150,000	$16.0m150.0k shares	New
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	18,500	$13.8m18.5k shares	New
UNITED STS OIL FD LP USO · Call	USO	Call	50,000	$5.3m50.0k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
CROSS TIMBERS RTY TR CRT · 13G · filed 2026-07-09	CRT	15.4%≈ $8.4m	+1.2 pts	13G	2026-07-09
PERMIAN BASIN RTY TR PBT · 13D · filed 2026-07-29	PBT	13.3%≈ $155.7m	no change	13D	2026-07-29