Initial Statement of Beneficial Ownership (Form 3)

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

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

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Units of Beneficial Ownership 6,060,000 I By SoftVest, LP(1) Units of Beneficial Ownership 4,500 I By Debeck LLC(2) Units of Beneficial Ownership 4,500 I By Debeck Properties(2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Short Put Option (obligation to buy)	(3)	06/20/2025	Units of Beneficial Ownership	271,100	$10	I	By SoftVest, LP(1)
Short Put Option (obligation to buy)	(3)	09/19/2025	Units of Beneficial Ownership	772,300	$10	I	By SoftVest, LP(1)
Short Put Option (obligation to buy)	(3)	09/19/2025	Units of Beneficial Ownership	86,400	$7.5	I	By SoftVest, LP(1)
Short Put Option (obligation to buy)	(3)	12/19/2025	Units of Beneficial Ownership	396,500	$12.5	I	By SoftVest, LP(1)
Short Put Option (obligation to buy)	(3)	12/19/2025	Units of Beneficial Ownership	100	$15	I	By SoftVest, LP(1)
Short Put Option (obligation to buy)	(3)	06/20/2025	Units of Beneficial Ownership	2,500	$12.5	I	By SoftVest, LP(1)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
OLIVER ERIC L 400 PINE STREET, SUITE 1010 ABELINE, TX 79601		X
SoftVest Advisors, LLC 400 PINE STREET, SUITE 1010 ABELINE, TX 79601		X
SoftVest, LP 400 PINE STREET, SUITE 1010 ABELINE, TX 79601		X
SoftVest GP I, LLC 400 PINE STREET, SUITE 1010 ABELINE, TX 79601		X

Signatures

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

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(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).
(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.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.