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

SecurityBSM / Black Stone Minerals, L.P. - Limited Partnership
InstitutionHoward Financial Services, Ltd.
Latest Disclosed Ownership92,233 shares
Latest Disclosed Value $ 1,394,560
Howard Financial Services, Ltd. reports 0.18% increase in ownership of BSM / Black Stone Minerals, L.P. - Limited Partnership

On April 7, 2026 - Howard Financial Services, Ltd. filed a 13F-HR form disclosing ownership of 92,233 shares of Black Stone Minerals, L.P. - Limited Partnership (US:BSM) valued at $1,394,563 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 12, 2026 disclosing 92,064 shares of Black Stone Minerals, L.P. - Limited Partnership. This represents a change in shares of 0.18% during the quarter. The current value of the position is $1,280,194 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)
2026-04-07 2026-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 92,233 169 0.18 1,395 13.98 0.1570
2026-01-12 2025-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 92,064 -15 -0.02 1,224 1.16 0.1431
2025-10-23 2025-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 92,079 197 0.21 1,210 0.67 0.1480
2025-07-02 2025-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 91,882 220 0.24 1,202 -14.15 0.1580
2025-04-07 2025-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 91,662 197 0.22 1,400 4.79 0.1906
2025-01-15 2024-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 91,465 -80 -0.09 1,335 -3.40 0.1817
2024-10-08 2024-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 91,545 109 0.12 1,382 -3.49 0.1996
2024-07-12 2024-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 91,436 96 0.11 1,433 -1.85 0.2348
2024-04-16 2024-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 91,340 -5,877 -6.05 1,460 -5.93 0.2514
2024-01-09 2023-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 97,217 -46 -0.05 1,552 -7.40 0.2991
2023-10-10 2023-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 97,263 109 0.11 1,676 8.13 0.3842
2023-07-12 2023-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 97,154 3,711 3.97 1,550 5.66 0.3697
2023-04-05 2023-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 93,443 116 0.12 1,466 -6.86 0.3572
2023-01-13 2022-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 93,327 2,131 2.34 1,574 10.30 0.4135
2022-10-12 2022-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 91,196 8,215 9.90 1,427 25.62 0.4626
2022-07-18 2022-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 82,981 2,108 2.61 1,136 4.32 0.3858
2022-04-20 2022-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 80,873 1,846 2.34 1,089 33.46 0.3225
2022-01-27 2021-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 79,027 1,665 2.15 816 -12.45 0.2447
2021-11-01 2021-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 77,362 1,489 1.96 932 14.22 0.3494
2021-08-06 2021-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 75,873 1,300 1.74 816 25.54 0.3198
2021-05-03 2021-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 74,573 1,336 1.82 650 32.92 0.2919
2021-02-02 2020-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 73,237 1,430 1.99 489 10.88 0.2576
2020-11-12 2020-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 71,807 1,618 2.31 441 -3.29 0.2850
2020-07-29 2020-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 70,189 1,195 1.73 456 41.18 0.3239
2020-05-05 2020-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 68,994 2,172 3.25 323 -62.00 0.2857
2020-01-27 2019-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 66,822 4,786 7.71 850 -3.74 0.5226
2019-11-12 2019-09-30 13F/A-1 BLACK STONE MINERALS L P COM UNIT 09225M101 62,036 11,317 22.31 883 12.34 0.5845
2019-10-29 2019-09-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 62,036 11,317 883 584,520.4681
2019-08-05 2019-06-30 13F BLACK STONE MINERALS L P COM UNIT 09225M101 50,719 1,107 2.23 786 -10.17 0.5373
2019-05-14 2019-03-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 49,612 992 2.04 875 16.20 0.6205
2019-02-15 2018-12-31 13F BLACK STONE MINERALS L P COM UNIT 09225M101 48,620 48,620 753 0.5785
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.