Annandale Capital’s Black Stone Minerals BSM Stock Holding History

Annandale Capital’s Portfolio BSM Stock Details BSM Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	–	Sell	-12,911	Closed	-$172K	–	122
2025 Q4	$172K	Sell	12,911 -1,471	-10%	-$19.9K	0.02%	122
2025 Q3	$189K	Hold	14,382	–	–	0.03%	118
2025 Q2	$188K	Hold	14,382	–	–	0.01%	120
2025 Q1	$220K	Hold	14,382	–	–	0.01%	119
2024 Q4	$210K	Buy	14,382 +747	+5%	+$11.1K	0.03%	120
2024 Q3	$206K	Hold	13,635	–	–	0.03%	121
2024 Q2	$214K	Hold	13,635	–	–	0.04%	120
2024 Q1	$218K	Buy	13,635 +1,011	+8%	+$16K	0.04%	123
2023 Q4	$201K	Hold	12,624	–	–	0.04%	129
2023 Q3	$218K	Hold	12,624	–	–	0.05%	109
2023 Q2	$201K	Hold	12,624	–	–	0.06%	122
2023 Q1	$198K	Hold	12,624	–	–	0.06%	116
2022 Q4	$213K	Sell	12,624 -100	-0.8%	-$1.77K	0.07%	114
2022 Q3	$199K	Hold	12,724	–	–	0.07%	116
2022 Q2	$174K	Hold	12,724	–	–	0.07%	123
2022 Q1	$171K	Hold	12,724	–	–	0.07%	108
2021 Q4	$131K	Hold	12,724	–	–	0.06%	111
2021 Q3	$153K	Hold	12,724	–	–	0.09%	83
2021 Q2	$137K	Hold	12,724	–	–	0.08%	82
2021 Q1	$111K	Buy	12,724 +1,624	+15%	+$14.4K	0.08%	67
2020 Q4	$74K	Buy	+11,100	New	+$75.1K	0.06%	55

Other funds holding BSM

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

WMRU

William Marsh Rice University Houston, Texas $219M AUM 16.08% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $2.3T AUM 54.33% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

PDM

Penn Davis McFarland Dallas, Texas $1.12B AUM 32.35% 1-Year Est. Return

IMA

Investment Management Associates Greenwood Village, Colorado $487M AUM 11.51% 1-Year Est. Return

Natixis Paris, France $24.8B AUM 35.22% 1-Year Est. Return

Ameriprise Minneapolis, Minnesota $495B AUM 43.24% 1-Year Est. Return

Brown Advisory Baltimore, Maryland $64.6B AUM 18.98% 1-Year Est. Return

LCAM

Long Corridor Asset Management Hong Kong $331M AUM 10.35% 1-Year Est. Return

Annandale Capital's BSM Position: Q1 2026 in Review

Annandale Capital sold out of Black Stone Minerals (BSM) in Q1 2026, closing a stake of 12,911 shares — an estimated $172K sold.

Annandale Capital first reported a position in BSM in Q4 2020 and held it in 21 quarters. The position peaked at $220K in Q1 2025. 192 funds tracked by Wall St. Rank hold BSM as of Q1 2026.

Annandale Capital reported no remaining Black Stone Minerals position as of Q1 2026 after selling out during the quarter.
Annandale Capital sold 12,911 Black Stone Minerals shares in Q1 2026, an estimated $172K.
Annandale Capital first reported a position in Black Stone Minerals in Q4 2020 and held it in 21 quarters.
Annandale Capital's Black Stone Minerals position peaked at $220K in Q1 2025.
192 funds tracked by Wall St. Rank held Black Stone Minerals as of Q1 2026.

Based on Annandale Capital's 13F filing for Q1 2026, filed 15 May 2026.