Horizon Kinetics Asset Management’s Black Stone Minerals BSM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$2.29M	Hold	151,238	–	–	0.02%	109
2025 Q4	$2.01M	Sell	151,238 -7,400	-5%	-$99.9K	0.03%	114
2025 Q3	$2.08M	Sell	158,638 -110,000	-41%	-$1.38M	0.03%	114
2025 Q2	$3.51M	Hold	268,638	–	–	0.04%	88
2025 Q1	$4.1M	Sell	268,638 -7,000	-3%	-$105K	0.05%	76
2024 Q4	$4.02M	Hold	275,638	–	–	0.05%	83
2024 Q3	$4.16M	Buy	275,638 +109,500	+66%	+$1.64M	0.06%	79
2024 Q2	$2.6M	Sell	166,138 -1,700	-1%	-$27.2K	0.05%	84
2024 Q1	$2.68M	Hold	167,838	–	–	0.05%	86
2023 Q4	$2.68M	Hold	167,838	–	–	0.06%	80
2023 Q3	$2.89M	Buy	167,838 +5,100	+3%	+$86.9K	0.06%	76
2023 Q2	$2.6M	Sell	162,738 -200	-0.1%	-$3.2K	0.06%	89
2023 Q1	$2.56M	Sell	162,938 -1,950	-1%	-$30.5K	0.05%	85
2022 Q4	$2.78M	Sell	164,888 -814	-0.5%	-$14.4K	0.05%	81
2022 Q3	$2.59M	Sell	165,702 -27,047	-14%	-$410K	0.05%	80
2022 Q2	$2.64M	Sell	192,749 -340	-0.2%	-$5.16K	0.06%	86
2022 Q1	$2.6M	Sell	193,089 -2,221	-1%	-$26.5K	0.05%	103
2021 Q4	$2.02M	Sell	195,310 -11,037	-5%	-$127K	0.04%	123
2021 Q3	$2.49M	Sell	206,347 -4,350	-2%	-$46.1K	0.06%	104
2021 Q2	$2.27M	Sell	210,697 -2,653	-1%	-$26.8K	0.05%	113
2021 Q1	$1.86M	Buy	213,350 +2,750	+1%	+$24.4K	0.04%	127
2020 Q4	$1.41M	Buy	210,600 +13,718	+7%	+$92.8K	0.05%	143
2020 Q3	$1.21M	Buy	196,882 +14,500	+8%	+$96.6K	0.05%	144
2020 Q2	$1.19M	Sell	182,382 -3,778	-2%	-$24K	0.04%	145
2020 Q1	$871K	Buy	186,160 +32,955	+22%	+$303K	0.04%	155
2019 Q4	$1.95M	Sell	153,205 -159,151	-51%	-$2.03M	0.06%	113
2019 Q3	$4.45M	Buy	312,356 +7,951	+3%	+$117K	0.14%	62
2019 Q2	$4.72M	Sell	304,405 -16,258	-5%	-$277K	0.13%	66
2019 Q1	$5.66M	Buy	+320,663	New	+$5.51M	0.16%	57