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

SecurityBSM / Black Stone Minerals, L.P. - Limited Partnership
InstitutionBrown Advisory Inc
Latest Disclosed Ownership878,003 shares
Latest Disclosed Value $ 13,275,405
Brown Advisory Inc ownership in BSM / Black Stone Minerals, L.P. - Limited Partnership

On May 15, 2026 - Brown Advisory Inc filed a 13F-HR form disclosing ownership of 878,003 shares of Black Stone Minerals, L.P. - Limited Partnership (US:BSM) valued at $13,275,405 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 878,003 shares of Black Stone Minerals, L.P. - Limited Partnership. This represents a change in shares of 0.00% during the quarter. The current value of the position is $12,221,802 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)
2026-05-15 2026-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 878,003 0 0.00 13,275 13.77 0.0097
2026-02-13 2025-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 878,003 -8,931 -1.01 11,669 0.12 0.0163
2025-11-14 2025-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 886,934 -10,000 -1.11 11,654 -0.66 0.0152
2025-08-13 2025-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 896,934 0 0.00 11,732 -14.35 0.0154
2025-04-30 2025-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 896,934 -1,000 -0.11 13,696 4.48 0.0196
2025-02-14 2024-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 897,934 -46,788 -4.95 13,110 -8.10 0.0166
2024-11-13 2024-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 944,722 -20,023 -2.08 14,265 -5.64 0.0179
2024-08-14 2024-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 964,745 2,200 0.23 15,118 -1.72 0.0198
2024-04-24 2024-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 962,545 -26,577 -2.69 15,381 -2.57 0.0206
2024-02-08 2023-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 989,122 16,200 1.67 15,786 -5.83 0.0222
2023-10-25 2023-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 972,922 0 0.00 16,763 8.02 0.0275
2023-07-31 2023-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 972,922 -10,000 -1.02 15,518 0.62 0.0242
2023-05-08 2023-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 982,922 0 0.00 15,422 -6.99 0.0261
2023-02-13 2022-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 982,922 -1,800 -0.18 16,582 7.60 0.0308
2022-11-14 2022-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 984,722 -31,356 -3.09 15,410 10.78 0.0300
2022-11-14 2022-06-30 13F/A-2 BLACK STONE MINERALS L P COM UNIT 09225M101 1,016,078 -20,615 -1.99 13,910 -0.32 0.0262
2022-09-13 2022-06-30 13F/A-1 BLACK STONE MINERALS L P COM UNIT 09225M101 1,254,378 -20,615 17,173 0.0297
2022-08-02 2022-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,254,993 -20,000 16,000 0.0106
2022-11-14 2022-03-31 13F/A-2 BLACK STONE MINERALS L P COM UNIT 09225M101 1,036,693 -226,212 -17.91 13,954 6.97 0.0208
2022-09-13 2022-03-31 13F/A-1 BLACK STONE MINERALS L P COM UNIT 09225M101 1,274,993 12,088 17,161 0.0241
2022-05-09 2022-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,274,993 12,088 16,061 0.0218
2022-01-27 2021-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,262,905 206,335 19.53 13,045 2.46 0.0162
2021-11-12 2021-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,056,570 -1,738 -0.16 12,732 11.91 0.0188
2021-07-29 2021-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,058,308 -30,000 -2.76 11,377 19.88 0.0172
2021-05-14 2021-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,088,308 -2,981 -0.27 9,490 30.18 0.0162
2021-02-12 2020-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,091,289 -25,900 -2.32 7,290 6.27 0.0129
2020-11-16 2020-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,117,189 230,876 26.05 6,860 19.08 0.0142
2020-08-14 2020-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 886,313 -893,906 -50.21 5,761 -30.86 0.0134
2020-05-15 2020-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,780,219 -5,387 -0.30 8,332 -63.32 0.0255
2020-02-14 2019-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,785,606 -17,204 -0.95 22,713 -11.53 0.0576
2019-11-14 2019-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,802,810 103,868 6.11 25,672 -2.51 0.0720
2019-08-12 2019-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,698,942 625,685 58.30 26,334 39.09 0.0753
2019-05-15 2019-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 1,073,257 482,045 81.54 18,933 106.87 0.0537
2019-02-13 2018-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 591,212 -7,390 -1.23 9,152 -16.04 0.0307
2018-11-13 2018-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 598,602 -4,050 -0.67 10,901 -2.17 0.0310
2018-08-10 2018-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 602,652 0 0.00 11,143 11.72 0.0343
2018-06-28 2018-03-31 13F/A-1 BLACK STONE MINERALS L P COM UNIT 09225M101 602,652 -59,102 -8.93 9,974 -15.98 0.0322
2018-05-14 2018-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 576,209 -85,545 9,536
2018-02-12 2017-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 661,754 -11,374 -1.69 11,871 1.70 0.0376
2017-11-13 2017-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 673,128 0 0.00 11,672 10.02 0.0387
2017-08-14 2017-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 673,128 0 0.00 10,609 -4.54 0.0324
2017-05-15 2017-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 673,128 -16,672 -2.42 11,114 -14.21 0.0379
2017-02-13 2016-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 689,800 493,647 251.66 12,955 270.78 0.0463
2016-11-14 2016-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 196,153 -3,748 -1.87 3,494 12.78 0.0120
2016-08-09 2016-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 199,901 0 0.00 3,098 10.60 0.0109
2016-05-13 2016-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 199,901 2,503 1.27 2,801 -1.65 0.0097
2016-02-08 2015-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 197,398 0 0.00 2,848 4.55 0.0097
2015-11-13 2015-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 197,398 -310,096 -61.10 2,724 -68.83 0.0097
2015-08-11 2015-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 507,494 507,494 8,740 0.0285
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.