Here’s Why Ave Maria Focused Fund Added Permian Basin Royalty Trust (PBT)
Investment management company Ave Maria recently released its “Ave Maria Focused Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the fourth quarter, the fund returned 12.39% compared to an 8.74% return for the S&P MidCap 400 Growth Index and a 7.56% return for the S&P 500 Index. For the full year, the fund returned -34.98% compared to -18.96% and -18.11% returns respectively for the indexes. You can check the top 5 holdings of the fund to know its best picks in 2022.
Ave Maria Focused Fund highlighted stocks like Permian Basin Royalty Trust (NYSE:PBT) in the fourth quarter 2022 investor letter. Based in Dallas, Texas, Permian Basin Royalty Trust (NYSE:PBT) is an express trust that holds overriding royalty interests in various oil and gas properties. On April 3, 2023, Permian Basin Royalty Trust (NYSE:PBT) stock closed at $26.76 per share. One-month return of Permian Basin Royalty Trust (NYSE:PBT) was 10.12%, and its shares gained 114.08% of their value over the last 52 weeks. Permian Basin Royalty Trust (NYSE:PBT) has a market capitalization of $1.247 billion.
Ave Maria Focused Fund made the following comment about Permian Basin Royalty Trust (NYSE:PBT) in its Q4 2022 investor letter:
"Permian Basin Royalty Trust (NYSE:PBT) is a trust that receives royalty payments for mineral rights that it owns in Texas. The most important of its assets are in the Permian Basin. We view the company as a mini-Texas Pacific Land Corporation, which is another portfolio holding."
Photo by Max Bender on Unsplash
Permian Basin Royalty Trust (NYSE:PBT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 4 hedge fund portfolios held Permian Basin Royalty Trust (NYSE:PBT) at the end of the fourth quarter which was 4 in the previous quarter.
We discussed Permian Basin Royalty Trust (NYSE:PBT) in another article and shared the list of high-growth monthly dividend stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
