Black Stone Minerals, L.P. - Limited Partnership
US ˙ NYSE ˙ US09225M1018

SecurityBSM / Black Stone Minerals, L.P. - Limited Partnership
InstitutionCIBC Private Wealth Group, LLC
Latest Disclosed Ownership164,140 shares
Latest Disclosed Value $ 2,181,421
CIBC Private Wealth Group, LLC reports 10.50% increase in ownership of BSM / Black Stone Minerals, L.P. - Limited Partnership

On February 12, 2026 - CIBC Private Wealth Group, LLC filed a 13F-HR form disclosing ownership of 164,140 shares of Black Stone Minerals, L.P. - Limited Partnership (US:BSM) valued at $2,181,421 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 24, 2025 disclosing 148,542 shares of Black Stone Minerals, L.P. - Limited Partnership. This represents a change in shares of 10.50% during the quarter. The current value of the position is $2,279,905 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-12 2025-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 164,140 15,598 10.50 2,181 11.79
2025-11-24 2025-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 148,542 23,247 18.55 1,952 19.11 0.0033
2025-08-12 2025-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 125,295 -30,775 -19.72 1,639 -19.94 0.0029
2025-05-14 2025-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 156,070 6,600 4.42 2,046 -6.36 0.0043
2025-02-12 2024-12-31 13F Black Stone Minerals COM UNIT 09225M101 149,470 -74,520 -33.27 2,185 -35.39 0.0040
2024-11-13 2024-09-30 13F Black Stone Minerals COM UNIT 09225M101 223,990 0 0.00 3,382 -3.15 0.0061
2024-08-09 2024-06-30 13F Black Stone Minerals COM UNIT 09225M101 223,990 -184,697 -45.19 3,492 -46.89 0.0065
2024-05-10 2024-03-31 13F Black Stone Minerals COM UNIT 09225M101 408,687 -78,913 -16.18 6,576 -15.51 0.0129
2024-02-13 2023-12-31 13F BLACK STONE MINERALS L P COM UNIT COM 09225M101 487,600 -588,880 -54.70 7,782 -58.04 0.0165
2023-11-13 2023-09-30 13F BLACK STONE MINERALS L P COM UNIT COM 09225M101 1,076,480 -254,541 -19.12 18,548 -12.63 0.0439
2023-11-21 2023-06-30 13F/A-1 BLACK STONE MINERALS L P COM UNIT COM 09225M101 1,331,021 -254,549 -16.05 21,230 -14.66 0.0464
2023-08-10 2023-06-30 13F BLACK STONE MINERALS L P COM UNIT COM 09225M101 1,331,021 -254,549 21,230 0.0464
2023-11-21 2023-03-31 13F/A-1 BLACK STONE MINERALS L P COM UNIT COM 09225M101 1,585,570 215,565 15.73 24,878 7.64 0.0551
2023-05-12 2023-03-31 13F BLACK STONE MINERALS L P COM UNIT COM 09225M101 1,585,570 215,565 24,878 0.0541
2023-06-01 2022-12-31 13F/A-2 BLACK STONE MINERALS L P COM UNIT COM 09225M101 1,370,005 162 0.01 23,112 7.80 0.0776
2023-02-14 2022-12-31 13F/A-1 BLACK STONE MINERALS L P COM UNIT COM 09225M101 1,370,005 162 23,112 0.0484
2023-02-13 2022-12-31 13F BLACK STONE MINERALS L P COM UNIT COM 09225M101 1,370,005 162 23,112 0.0000
2022-11-15 2022-09-30 13F BLACK STONE MINERALS L P COM UNIT COM 09225M101 1,369,843 -105,461 -7.15 21,439 6.15 0.0577
2022-08-03 2022-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,475,304 115,461 8.49 20,197 10.35 0.0525
2022-05-16 2022-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,359,843 195,860 16.83 18,303 52.22 0.0400
2022-04-04 2021-12-31 13F/A-1 BLACK STONE MINERALS L P COM UNIT 09225M101 1,163,983 0 0.00 12,024 -14.27 0.0249
2022-02-08 2021-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,163,983 0 12,024 0.0195
2021-11-12 2021-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,163,983 0 0.00 14,026 12.09 0.0326
2021-08-16 2021-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,163,983 0 0.00 12,513 23.28 0.0287
2021-05-12 2021-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,163,983 -59,729 -4.88 10,150 24.17 0.0256
2021-02-12 2020-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,223,712 209,191 20.62 8,174 31.22 0.0216
2020-11-03 2020-09-30 13F/A-1 BLACK STONE MINERALS L P COM UNIT 09225M101 1,014,521 550,117 118.46 6,229 106.33 0.0191
2020-08-13 2020-06-30 13F BLACK STONE MINERALS L P COM UNIT Com 09225M101 464,404 249,968 116.57 3,019 200.70 0.0147
2020-05-15 2020-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 214,436 0 0.00 1,004 -63.20 0.0043
2020-01-30 2019-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 214,436 0 0.00 2,728 -10.67 0.0089
2019-10-16 2019-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 214,436 0 0.00 3,054 -8.12 0.0107
2019-07-31 2019-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 214,436 -802,836 -78.92 3,324 -81.48 0.0117
2019-05-10 2019-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,017,272 -118,414 -10.43 17,945 2.08 0.0692
2019-02-05 2018-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,135,686 135,686 13.57 17,580 -3.46 0.0784
2018-11-14 2018-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,000,000 1,000,000 18,211 0.0690
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.