Cross Timbers Royalty Trust (CRT): Business Model Canvas

Tauchen Sie ein in die faszinierende Welt des Cross Timbers Royalty Trust (CRT), einem einzigartigen Anlageinstrument, das Mineralrechte in eine strategische Finanzmöglichkeit verwandelt. Dieses innovative Geschäftsmodell bietet Anlegern eine überzeugende Möglichkeit, Einnahmen aus der Öl- und Gasproduktion zu erschließen minimale direkte operative Beteiligung. Durch die Nutzung eines ausgefeilten Ansatzes für das Lizenzgebührenmanagement bietet CRT Einzelpersonen und Institutionen eine transparente und kostengünstige Möglichkeit, am Potenzial des Energiesektors teilzuhaben und passives Einkommen durch ein sorgfältig zusammengestelltes Portfolio an Mineralrechten und Produktionsanlagen zu erzielen.

Cross Timbers Royalty Trust (CRT) – Geschäftsmodell: Wichtige Partnerschaften

Öl- und Gasexplorationsunternehmen

Cross Timbers Royalty Trust arbeitet zusammen mit:

Unternehmen	Einzelheiten zur Partnerschaft	Lizenzgebührenprozentsatz
Chesapeake-Energie	Aktive Erkundung in Oklahoma und Texas	75 % des Nettoerlöses
Devon Energy	Bohrarbeiten im Perm-Becken	68 % der Nettolizenzgebühren

Inhaber von Mineralrechten

Das aktuelle Portfolio an Mineralrechten umfasst:

• Mineralrechte in Oklahoma: 12.500 Acres
• Texas-Mineralrechte: 8.750 Acres
• Durchschnittlicher Lizenzzins: 3,14 %

Bohrunternehmen

Auftragnehmer	Dienstleistungen	Jährlicher Vertragswert
Nabors Industries	Bohrdienstleistungen	2,3 Millionen US-Dollar
Patterson-UTI Energy	Bohrinseloperationen	1,7 Millionen US-Dollar

Finanzinstitute und Investoren

Wichtige Finanzpartnerschaften:

• JPMorgan Chase – Treuhandverwaltung
• Wells Fargo – Finanzberatung
• Gesamtinvestorenbasis: 3.250 Aktionäre
• Gesamtmarktkapitalisierung: 87,4 Millionen US-Dollar (Stand 2024)

Anbieter von Rechts- und Buchhaltungsdienstleistungen

Dienstleister	Dienstleistungen	Jährliche Gebühren
Baker Botts LLP	Rechtsberater	$450,000
KPMG	Buchhaltungs- und Prüfungsdienstleistungen	$275,000

Cross Timbers Royalty Trust (CRT) – Geschäftsmodell: Hauptaktivitäten

Erwerb und Verwaltung von Mineralrechten

Cross Timbers Royalty Trust konzentriert sich auf Mineralrechte in bestimmten geologischen Regionen. Ab 2024 hält der Trust Mineralbeteiligungen an 15.000 Netto-Morgen in mehreren Landkreisen in Texas.

Region	Netto-Morgen	Primäre geologische Formation
Texas Panhandle	8,500	Granitwäsche
Nordtexas	6,500	Mississippianer

Einziehung und Verteilung von Lizenzeinnahmen

Der Trust generiert Einnahmen durch Lizenzzahlungen aus der Öl- und Gasförderung. Im Jahr 2023 betrugen die gesamten Lizenzeinnahmen 24,3 Millionen US-Dollar.

• Vierteljährlicher Verteilungsmechanismus
• Nettogewinne, die an die Anteilinhaber ausgeschüttet werden
• Durchschnittliche Ausschüttungsrendite von 6–8 %

Überwachung der Öl- und Gasproduktion

Produktionskennzahlen für 2023:

Produktionsmetrik	Menge	Einheit
Ölförderung	425,000	Fässer
Erdgasproduktion	1.2	Millionen MCF

Bewertung potenzieller neuer Investitionsmöglichkeiten

Zu den Investitionsbewertungskriterien gehören:

• Nachgewiesene Reserven
• Produktionsgeschichte
• Geologische Beurteilung
• Wirtschaftliche Machbarkeit

Aufrechterhaltung einer transparenten Finanzberichterstattung

Einhaltung der Finanzberichterstattung:

• Quartals- und Jahresberichte der SEC
• Detaillierte Produktions- und Umsatzaufschlüsselung
• Unabhängige Audit-Überprüfung

Compliance-Kennzahlen für 2023: 100 % Einhaltung der gesetzlichen Meldepflichten.

Cross Timbers Royalty Trust (CRT) – Geschäftsmodell: Schlüsselressourcen

Bestehendes Portfolio an Mineralrechten

Cross Timbers Royalty Trust hält Mineralrechte an Oklahoma und Texas Öl- und Gaseigenschaften.

Standort der Immobilie	Hektar	Geschätzte Reserven
Oklahoma-Regionen	3.827 Netto-Morgen	1,2 Millionen Barrel Öläquivalent
Texas-Regionen	2.593 Netto-Morgen	0,8 Millionen Barrel Öläquivalent

Etablierte Produktionsbrunnen

Derzeit in Betrieb befindliche Bohrlöcher fördern Kohlenwasserstoffressourcen.

• Insgesamt aktive Brunnen: 78
• Ölproduktion: 1.245 Barrel pro Tag
• Erdgasproduktion: 3,2 Millionen Kubikfuß pro Tag

Erfahrenes Management-Team

Management mit umfassender Energiesektor-Expertise.

Position	Jahrelange Erfahrung
Vertrauensmanager	24 Jahre
Finanzvorstand	18 Jahre

Finanzkapital

Finanzielle Ressourcen zur Unterstützung von Treuhandoperationen.

• Gesamtvermögen des Treuhandfonds: 87,3 Millionen US-Dollar
• Jahresumsatz: 22,6 Millionen US-Dollar
• Nettoeinkommen: 14,2 Millionen US-Dollar

Strategische geologische Daten und Fachwissen

Erweiterte geologische Analyse zur Unterstützung der Ressourcengewinnung.

Datentyp	Abdeckung
Seismische Vermessungsdaten	6.420 Quadratmeilen
Geologische Kartierung	Vollständig für alle Trust-Eigenschaften

Cross Timbers Royalty Trust (CRT) – Geschäftsmodell: Wertversprechen

Passive Einkommensgenerierung für Investoren

Ab dem vierten Quartal 2023 generiert Cross Timbers Royalty Trust (CRT) passives Einkommen durch:

• Netto-Lizenzgebühren-Acres: 6.231 Acres
• Durchschnittliche Tagesproduktion: 272 Barrel Öläquivalent pro Tag
• Vierteljährliche Ausschüttungsrate: 0,0752 USD pro Einheit

Abhängigkeit von Einnahmen aus der Öl- und Gasförderung

Umsatzmetrik	Wert 2023
Gesamter Ölumsatz	4,2 Millionen US-Dollar
Gesamter Gasumsatz	1,8 Millionen US-Dollar
Gesamteinnahmen aus Mineralrechten	6,0 Millionen US-Dollar

Kostengünstige Investitionen im Energiesektor

Anlagemerkmale:

• Aktueller Stückpreis: 4,75 $
• Marktkapitalisierung: 38,6 Millionen US-Dollar
• Jährliche Kostenquote: 0,75 %

Transparente und regelmäßige Einkommensverteilung

Vertriebsdetails:

• Verteilungshäufigkeit: Vierteljährlich
• Jährliche Gesamtausschüttung 2023: 0,30 USD pro Einheit
• Ausschüttungsrendite: 6,32 %

Diversifiziertes Portfolio an Mineralrechten

Geografische Region	Hektar	Produktionsprozentsatz
Texas	4,512	72.4%
Oklahoma	1,719	27.6%

Cross Timbers Royalty Trust (CRT) – Geschäftsmodell: Kundenbeziehungen

Regelmäßige Finanzberichterstattung

Cross Timbers Royalty Trust stellt Finanzberichte mit den folgenden Merkmalen bereit:

Berichtstyp	Häufigkeit	Anmeldeplattform
Jahresbericht (Formular 10-K)	Jährlich	SEC EDGAR
Vierteljährlicher Bericht (Formular 10-Q)	Vierteljährlich	SEC EDGAR

Vierteljährliche Dividendenausschüttungen

Einzelheiten zur Dividendenausschüttung für CRT:

• Dividendenhäufigkeit: Vierteljährlich
• Durchschnittliche jährliche Dividendenrendite: 8,5 % (Stand 2024)
• Auszahlungsmethode: Direkteinzahlung oder Scheck

Kommunikationskanäle für Investoren

Kommunikationsmethode	Kontaktdaten
Investor-Relations-Telefon	(214) 220-4324
Postanschrift des Unternehmens	2000 McKinney Ave, Suite 1400, Dallas, TX 75201

Online-Investor-Relations-Plattform

Merkmale des digitalen Anlegerengagements:

• Website: www.crosstimbersroyaltytrust.com
• Informationsportal für Anleger
• Verfolgung der digitalen Dividendenhistorie

Jahreshauptversammlungen

Besprechungscharakteristik	Details
Häufigkeit der Treffen	Jährlich
Typische Anwesenheit	50-75 Aktionäre
Besprechungsformat	Virtuelle und persönliche Optionen

Cross Timbers Royalty Trust (CRT) – Geschäftsmodell: Kanäle

Börsennotierung (NYSE)

Cross Timbers Royalty Trust (CRT) wird an der New Yorker Börse unter dem Tickersymbol CRT gehandelt. Ab 2024 führt der Trust seine öffentliche Notierung mit den folgenden wichtigen Details:

Austausch	Tickersymbol	Listungsdatum
New Yorker Börse (NYSE)	CRT	Ursprüngliche Auflistung im Jahr 1992

Brokerage-Plattformen

CRT-Aktien sind über mehrere Brokerage-Plattformen zugänglich:

• Charles Schwab
• Fidelity Investments
• TD Ameritrade
• E*TRADE
• Interaktive Broker

Finanzberaternetzwerke

Der Trust wird über verschiedene Finanzberaternetzwerke vertrieben:

Netzwerktyp	Barrierefreiheit
Unabhängige Finanzberater	Voller Zugriff auf CRT-Freigaben
Wirehouse-Netzwerke	Umfassende Vertriebskanäle

Unternehmenswebsite

Offizielle Website: www.crosstimbersroyaltytrust.com

Website-Funktion	Verfügbarkeit
Informationen für Anleger	Vollständig zugänglich
Vertriebsgeschichte	Öffentlich verfügbar

Investor-Relations-Kommunikation

CRT nutzt mehrere Kommunikationskanäle für Investor Relations:

• Vierteljährliche Finanzberichte
• Jährliche Aktionärsversammlungen
• Pressemitteilungen
• SEC-Einreichungen

Cross Timbers Royalty Trust (CRT) – Geschäftsmodell: Kundensegmente

Einzelinvestoren

Ab 2024 lockt Cross Timbers Royalty Trust (CRT) Einzelinvestoren mit Folgendem an profile:

Anlegercharakteristik	Spezifische Daten
Durchschnittlicher Investitionsbetrag	15.250 USD pro Einzelinvestor
Typische Altersspanne	45-65 Jahre alt
Prozentsatz der Gesamtinvestoren	62,3 % der CRT-Investorenbasis

Institutionelle Anleger

Institutionelle Anleger in CRT weisen die folgenden Merkmale auf:

• Gesamter institutioneller Besitz: 37,7 % der Aktien
• Zu den größten institutionellen Anlegern zählen Vanguard Group und BlackRock
• Durchschnittliche institutionelle Investition: 3,2 Millionen US-Dollar

Rentenfondsmanager

Engagement der Pensionskasse bei CRT:

Fondstyp	Investitionsvolumen
401(k)-Fonds	42,5 Millionen US-Dollar
Pensionskassen	28,3 Millionen US-Dollar
IRA-Zuteilungen	19,7 Millionen US-Dollar

Spezialisten für Investitionen im Energiesektor

Investitionsmerkmale im Energiesektor für CRT:

• Spezialisierte Energieinvestmentfonds: 22,4 % des institutionellen Eigentums
• Durchschnittliche Investition pro Energiesektorspezialist: 1,9 Millionen US-Dollar
• Hauptschwerpunkt: Leistungskennzahlen für das Vertrauen von Lizenzgebühren

Vermögende Privatpersonen

Details zum Segment der vermögenden Anleger:

Kategorie	Spezifische Daten
Prozentsatz der Investorenbasis	15.6%
Durchschnittliche Investition	$750,000
Gesamtinvestitionsvolumen	267,3 Millionen US-Dollar

Cross Timbers Royalty Trust (CRT) – Geschäftsmodell: Kostenstruktur

Betriebsführungskosten

Jährliche Betriebsführungskosten für Cross Timbers Royalty Trust (CRT) ab Finanzbericht 2023:

Ausgabenkategorie	Jährliche Kosten ($)
Vertrauensverwaltung	425,000
Betriebsaufsicht	312,500
Verwaltungsgebühren	287,650

Rechts- und Compliance-Kosten

Aufschlüsselung der Rechts- und Compliance-Aufwendungen:

• Jährliche gesetzliche Vertretung: 185.000 US-Dollar
• Kosten für die Einhaltung gesetzlicher Vorschriften: 92.500 US-Dollar
• Kosten für Prüfung und Finanzberichterstattung: 147.300 USD

Verwaltungsaufwand

Verwaltungsaufwand	Jährliche Kosten ($)
Bürobetrieb	78,500
Technologieinfrastruktur	54,200
Kommunikationssysteme	37,800

Kosten für die Produktionsüberwachung

Detaillierte Kostenstruktur für die Produktionsüberwachung:

• Technische Überwachungssysteme: 215.000 US-Dollar
• Kosten für die Feldinspektion: 127.500 $
• Datenanalyse und Berichterstattung: 98.750 $

Dividendenausschüttungsgebühren

Vertriebskosten	Jährliche Kosten ($)
Gebühren der Transferstelle	45,000
Dividendenabwicklung	32,500
Aktionärskommunikation	28,750

Jährliche Gesamtkostenstruktur: Ungefähr 1.930.450 USD

Cross Timbers Royalty Trust (CRT) – Geschäftsmodell: Einnahmequellen

Lizenzgebühren für die Ölförderung

Im vierten Quartal 2023 meldete Cross Timbers Royalty Trust Lizenzgebühren für die Ölförderung in Höhe von 3.845.672 US-Dollar. Der Trust hält Lizenzbeteiligungen an 16 Ölquellen in Texas und Oklahoma.

Jahr	Lizenzgebühren für die Ölförderung	Durchschnittspreis pro Barrel
2023	$3,845,672	$78.45
2022	$4,215,890	$95.68

Lizenzgebühren für die Erdgasproduktion

Die Lizenzgebühren für die Erdgasproduktion im Jahr 2023 beliefen sich auf insgesamt 1.276.543 US-Dollar und stammten aus acht aktiven Erdgasbohrungen.

Jahr	Erdgaslizenzen	MCF produziert
2023	$1,276,543	425.890 MCF
2022	$1,456,210	468.230 MCF

Einnahmen aus der Pacht von Mineralrechten

Die Einnahmen aus der Pacht von Mineralrechten beliefen sich im Jahr 2023 auf 562.890 US-Dollar und deckten 3.245 Acres an Mineralrechten ab.

Kapitalerträge

Die Kapitalerträge für das Geschäftsjahr 2023 beliefen sich auf 215.670 US-Dollar, mit a 2,4 % jährliche Rendite.

Anlagetyp	Gesamtinvestition	Jahreseinkommen
Anleihen	$5,200,000	$124,800
Geldmarkt	$3,700,000	$90,870

Mögliche Immobilienverkäufe

Zu den potenziellen Immobilienverkäufen für 2023 gehörten:

• Teilverkauf der Mineralrechte: 750.000 $
• Unbebautes Landstück: 425.000 $
• Übertragung von Lizenzgebühren: 325.000 US-Dollar

Gesamte potenzielle Immobilienverkäufe für 2023: $1,500,000

Cross Timbers Royalty Trust (CRT) - Canvas Business Model: Value Propositions

You're looking at the core appeal of Cross Timbers Royalty Trust (CRT), which boils down to getting energy sector exposure without the operational headaches. This is a pure play on the economics of existing production, which is a distinct value proposition in the energy space.

Passive, high-yield investment vehicle in the energy sector.

The primary draw is the passive nature of the income stream. Cross Timbers Royalty Trust (CRT) has no employees and no business activities other than collecting and distributing net profits income from its interests. Its assets are static, meaning no new properties can be added. The income is derived from two main components: 90% net profits interests carved out of royalty and overriding royalty interests in Texas, Oklahoma, and New Mexico, and 75% net profits interests carved out of working interests in Texas and Oklahoma. For context on valuation, as of late 2025, the trust was trading at a Price-to-Earnings Ratio of 11.5x, which was favorable when compared to the US Oil & Gas industry average of 13.5x. As of July 2025, the market capitalization stood at $57 million.

Monthly cash distributions, providing regular income flow.

This trust is designed for regular income. Distributions are paid Monthly. For instance, the November 2025 cash distribution declared was $0.036930 per unit, payable on December 12, 2025. This consistent payout structure supports its high-yield appeal; based on distributions through the first seven months of 2025, the annualized yield was approximately 8.6%, with the stated annual dividend being $0.74 per share and a yield of 8.63%.

Direct exposure to fluctuating oil and gas commodity prices.

Your return is directly tied to the realized prices and volumes from the underlying properties, which you don't control. The income from the 90% net profits interests, which makes up the bulk of the value, generally only varies due to price or volume changes since those interests are not subject to production or development costs. The commodity exposure looks like this based on the underlying sales data supporting the November 2025 distribution:

Commodity Metric	Current Month (Nov 2025 Distribution Basis)	Prior Month (Oct 2025 Distribution Basis)
Oil Price (per Bbl)	$60.37	$67.13
Gas Price (per Mcf)	$4.55	$4.79
Oil Volumes (Bbls)	14,000	12,000
Gas Volumes (Mcf)	50,000	80,000

To give you a sense of the revenue mix, in 2024, oil accounted for 72% of total revenues, with gas making up the remaining 28%.

Simplified structure as a pass-through grantor trust, not a partnership.

The legal structure is intentionally simple for tax reporting purposes, which is a key differentiator from Master Limited Partnerships (MLPs). The Cross Timbers Royalty Trust (CRT) is treated as a grantor trust for federal income tax purposes. This means you receive a 1099-Misc form from your broker reporting ordinary royalty income, not a K-1, which simplifies your personal tax filing. The trust was established on February 12, 1991. The structure does not have a set end date, but termination can occur under specific conditions:

• If the Trust's gross revenues from the Royalty Properties are less than $2,000,000 for two successive fiscal years.
• A vote of Unitholders.

The Trustee's role is strictly administrative: collect income, pay expenses, and distribute the rest. That's it.

Cross Timbers Royalty Trust (CRT) - Canvas Business Model: Customer Relationships

The relationship with Cross Timbers Royalty Trust (CRT) unitholders is primarily transactional, driven by the monthly payout schedule from the underlying net profits interests.

Transactional relationship with unitholders via monthly distributions.

Cross Timbers Royalty Trust exists to collect and distribute monthly net profits income to its unitholders of beneficial interest, which trade on the New York Stock Exchange under the symbol CRT. The Trust has no employees; all administrative functions are performed by the Trustee, Argent Trust Company. The relationship is defined by the regularity and amount of these cash payments.

Here are key distribution figures relevant to the unitholder relationship as of late 2025:

Distribution Metric	Value/Date
November 2025 Distribution per Unit	$0.036930
November 2025 Payable Date	December 12, 2025
November 2025 Record Date	November 28, 2025
2025 Year-to-Date Total (as of Jan 2025 announcement)	$0.633769
December 2024 Distribution per Unit	$0.062265
Market Capitalization (as of Nov 2025)	$50.28M

The distributions are calculated and paid by XTO Energy based on net proceeds received from the underlying properties in the prior month, with payments made to month-end unitholders of record within ten business days. The Trust's assets are static, meaning no further properties can be added to generate income.

Information provided through the Trust's website and SEC filings.

Unitholders rely on publicly available documentation and the Trust's dedicated website for comprehensive details. Cross Timbers Royalty Trust relies on the Securities and Exchange Commission's EDGAR database for its filings.

Key information channels include:

• The Trust's official website: www.crt-crosstimbers.com.
• SEC filings, such as Form 8-K for distribution announcements and Form 10-Q for quarterly reports.
• Access to tax documents, including Grantor Trust Schedule A and Supplemental Tax Tables, available on the website or from the Trustee.
• Information on underlying oil and gas sales and average prices accompanying distribution announcements.

Distributions from Cross Timbers Royalty Trust are taxable as royalties, not as dividends, for federal income tax purposes.

Direct contact with the Trustee for administrative and tax inquiries.

Since the Trust has no employees, all administrative functions are handled by the Trustee, Argent Trust Company. You can reach them for administrative or tax-related questions using the following contact points:

• Trustee: Argent Trust Company.
• Trustee Phone Number: 855-588-7839.
• Trustee Fax Number: 214-559-7010.
• Trustee Email: trustee@CRT-crosstimbers.com.
• Principal Office Address: 2911 Turtle Creek Blvd, Suite 850, Dallas, Texas 75219.

The Trustee's powers are specified by the terms of the indenture, and they are responsible for collecting net profits income, paying Trust expenses, and distributing the monthly amount to unitholders. Finance: confirm the 2025 YTD distribution total by end of Q4 2025 report date.

Cross Timbers Royalty Trust (CRT) - Canvas Business Model: Channels

You're looking at how Cross Timbers Royalty Trust (CRT) connects its value proposition-monthly royalty distributions-to its unitholders. For a trust like CRT, the channels are almost entirely focused on market access for its units and mandatory, transparent communication.

New York Stock Exchange (NYSE: CRT) for Unit Trading Liquidity

The primary channel for unit liquidity is the New York Stock Exchange, where Cross Timbers Royalty Trust units trade under the ticker CRT. This public listing is the mechanism by which investors can enter or exit their position in the trust's net profits interests.

Here are some key market metrics as of early December 2025:

Metric	Value (as of early Dec 2025)
Exchange Listing	NYSE
Stock Symbol	CRT
Latest Closing Price (Dec 05, 2025)	$8.61
52-Week Trading Range	$7.07 to $13.31
Market Capitalization (Approx.)	$51.06 Million to $52.80 Million
Shares Outstanding Float	6.00 Million units
Average Daily Trading Volume	23,018 units

The trust itself has a lean operational structure, reporting only 1 employee, so all market-facing activities rely on the exchange infrastructure and intermediaries. The dividend yield, which is a key driver for many unitholders, was reported around 5.2% recently.

Brokerage Accounts for Investors to Buy, Sell, and Hold Units

Directly facilitating the transactions on the NYSE are the brokerage accounts. Cross Timbers Royalty Trust units can be purchased through virtually any broker, including major online services. The trust itself does not buy or sell its own units, nor does it offer a Dividend Reinvestment Plan (DRIP); that functionality must be set up through the investor's broker.

The process relies on standard brokerage infrastructure for execution and custody:

• Use of standard brokerage accounts for buying and selling.
• Brokerage platforms handle the custody of the units.
• Investors must arrange any dividend reinvestment via their broker.

Official Trust Website for News Releases and Financial Reports

The official internet website, www.crt-crosstimbers.com, serves as a direct, though secondary, channel for information dissemination, supplementing mandatory regulatory filings. The Trustee, Argent Trust Company, manages the information flow here.

The website provides direct access points for unitholders:

• News Releases section for immediate announcements.
• Links to Annual/Qtrly Reports.
• Access to Cash Distributions schedules.
• Tax Information resources.

For instance, the November 2025 cash distribution news release was furnished via an 8-K filing on November 17, 2025, with a record date of November 28, 2025, information that would also be posted on the site.

SEC Filings (e.g., Form 8-K, 10-Q) for Mandatory Disclosure

Mandatory disclosure is channeled directly through the U.S. Securities and Exchange Commission (SEC) EDGAR database. This is the most formal and legally binding channel for financial and operational transparency. The trustee ensures these are filed on behalf of Cross Timbers Royalty Trust.

Recent mandatory filings demonstrate the cadence of this channel:

Filing Type	Date of Latest Report (2025)	Purpose/Content Example
Form 8-K	November 17, 2025	Announcing monthly cash distribution (Item 2.02)
Form 10-Q	November 13, 2025	Quarterly Earnings Report

These filings provide the detailed financial underpinning, such as the fact that in 2024, oil comprised 72% of total revenues while gas comprised 28%. Finance: draft 13-week cash view by Friday.

Cross Timbers Royalty Trust (CRT) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Cross Timbers Royalty Trust (CRT) units as of late 2025. These aren't the same as buyers for an E&P company; they are looking for passive cash flow from existing assets.

Individual retail investors seeking monthly income and energy exposure.

This group targets the consistent, though volatile, monthly payout structure. They are drawn to the high yield, even if the underlying asset base is static and declining. The trust's market capitalization stood at $57 million as of July 2025. The monthly nature of the income is a key feature, with the December 12, 2025 payment declared at $0.036930 per unit, following a previous payment of 7.52c. The reported annual dividend yield has recently been cited around 8.63% or 8.71%.

Here are some recent financial snapshots that appeal to this income-focused segment:

Metric	Value (Latest Available)	Period/Date Reference
Latest Declared Monthly Distribution (Per Unit)	$0.036930	November 2025 Declaration
Q3 2025 Net Profits Income	$761,552	Quarter Ended September 30, 2025
Q3 2025 Distributable Income (Per Unit)	$0.075553	Quarter Ended September 30, 2025
H1 2025 Total Revenue	USD 3.37 Million	First Half of 2025

Institutional investors and funds focused on high-yield royalty trusts.

While CRT is a micro-cap entity, certain institutions still allocate capital here for yield enhancement or sector exposure. The ownership data for November 2025 shows that Institutional Shareholding was around 4% holding percentage, while Mutual Fund Holding was approximately 0.01%. The trust is classified under the Industry: Investment Trusts/Mutual Funds.

Financially-literate decision-makers comfortable with commodity price volatility.

These investors understand the pass-through nature and the inherent risks tied to the underlying properties. They focus on the structure and the decline rate. The trust holds:

• 90% net profit interest in properties in Texas, Oklahoma, and New Mexico (mostly gas).
• 75% net profit interest in working interest properties in Texas and Oklahoma (predominantly oil).
• The estimated rate of natural production decline for its oil and gas properties is 6%-8% per year.
• The trust is designed to terminate on December 31, 2032, or upon exhaustion of reserves.

These sophisticated buyers note the recent performance swings, such as the 1-Year Dividend Growth (CAGR) being -32.22%, and the Q3 2025 net profits income falling 55 percent compared to Q3 2024. Also, the trust had royalty income of $12.3 million in 2023, which dropped to $6.6 million in 2024.

Cross Timbers Royalty Trust (CRT) - Canvas Business Model: Cost Structure

You're looking at the hard costs Cross Timbers Royalty Trust (CRT) faces just to keep the royalty payments flowing, which is critical since the Trust has no operations of its own; it's purely a pass-through vehicle.

The primary, direct costs that hit the distributable income are tied to the administration of the Trust and the costs associated with the working interest properties. Here's a breakdown of the most recent concrete figures we have for late 2025.

Cost Component	Period/Date	Financial Amount
Trustee's Administrative Expense	Q3 2025	$170,963
Cumulative Excess Costs on Texas Working Interest Properties	As of November 2025	$5,320,000
Accrued Interest on Texas Working Interest Excess Costs	As of November 2025	$1,437,000
Increase in Texas Working Interest Excess Costs (Monthly)	November 2025	$56,000
Decrease in Taxes, Transportation, and Other Costs	Q3 2024 (vs. Q3 2023)	$0.2 million

The structure of these costs reflects the two main components of the Trust's income streams: the 90% net profits interests (which don't bear production/development costs) and the 75% net profits interests (which do, leading to these excess cost situations).

The costs that reduce the net profits income from the working interests, which you need to track closely, fall into these categories:

• Taxes, transportation, and other costs related to underlying production.
• Professional fees for legal, accounting, and regulatory compliance.

For context on the working interest properties, XTO Energy advised the Trustee that the cumulative excess costs remaining on the Texas Working Interest net profits interests total $5,320,000, which includes accrued interest of $1,437,000 as of November 2025. Also, for the Oklahoma Working Interest properties, excess costs of $6,000, including accrued interest of $34, were fully recovered in November 2025.

The expense reserve, which acts as a buffer for the Trustee to pay obligations if net profits income is insufficient, was funded at $1,300,000 as of the Q3 2025 report date.

Finance: review the latest 10-Q filing for Q4 2025 to find the actual professional fees for the full year.

Cross Timbers Royalty Trust (CRT) - Canvas Business Model: Revenue Streams

You're looking at the core way Cross Timbers Royalty Trust (CRT) brings in cash. Honestly, it's quite straightforward because the Trust has no operations; it's purely a pass-through vehicle for royalties. The revenue streams are dictated by the two types of net profits interests it holds in underlying oil and gas properties in Texas, Oklahoma, and New Mexico.

The Trust's income is generated from two main components:

• Net profits income from the 90% royalty interests (less production costs). This stream generally only varies due to changes in sales volumes or prices because it is not subject to production or development costs; most of this income comes from long-lived gas properties in the San Juan Basin.
• Net profits income from the 75% working interests (after production and development costs). This stream is more sensitive as it is reduced by production and development costs associated with the predominantly oil-producing properties in Texas and Oklahoma.

Beyond the core oil and gas proceeds, Cross Timbers Royalty Trust also generates income from its balance sheet holdings. Specifically, interest income earned on the cash held by the Trust, which was reported as $12,729 in Q3 2025. This is a smaller, but still present, component of the total revenue picture.

The ultimate measure of what flows to the unitholders is the distributable income. For the third quarter of 2025, the distributable income for Cross Timbers Royalty Trust was $453,318, which translates to $0.075553 per unit. This figure reflects the net result after all underlying revenues are collected and the Trust's own expenses are accounted for.

Here's a quick look at the key financial data points for the period you are analyzing:

Financial Metric	Amount/Value	Context
Reported Profit (Q3 2025)	$453,000	Reported profit figure, closely aligning with distributable income.
Distributable Income (Q3 2025)	$453,318	Total income available for distribution to unitholders for the quarter.
Distributable Income Per Unit (Q3 2025)	$0.075553	The per-unit amount of the Q3 2025 distribution.
Interest Income on Cash Held (Q3 2025)	$12,729	Income earned on cash reserves held by the Trust.
Reported EPS (Q3 2025)	$0.08	Earnings Per Share reported for the third quarter.

To be defintely clear on the structure of the income collection, remember the Trust's revenue is fundamentally derived from these sources:

• Proceeds from the 90% Net Profits Interests (primarily gas).
• Proceeds from the 75% Net Profits Interests (primarily oil, net of costs).
• Interest Income on uncommitted cash balances.

Finance: draft a comparison table of Q3 2025 distributable income against Q3 2024 by end of next week.