Millennium Management’s Sabine Royalty Trust SBR Stock Holding History

Millennium Management’s Portfolio SBR Stock Details SBR Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-4,470	Closed	-$355K	–	6396
2025 Q3	$355K	Buy	+4,470	New	+$319K	﹤0.01%	5267
2023 Q3	–	Sell	-6,591	Closed	-$435K	–	6504
2023 Q2	$435K	Buy	6,591 +303	+5%	+$21.7K	﹤0.01%	4641
2023 Q1	$452K	Buy	+6,288	New	+$495K	﹤0.01%	4667
2021 Q3	–	Sell	-5,024	Closed	-$203K	–	7187
2021 Q2	$203K	Sell	5,024 -5,554	-53%	-$198K	﹤0.01%	6012
2021 Q1	$321K	Buy	+10,578	New	+$333K	﹤0.01%	5164
2020 Q4	–	Sell	-7,695	Closed	-$224	–	5537
2020 Q3	$224	Sell	7,695 -7,339	-49%	-$222K	﹤0.01%	4017
2020 Q2	$417K	Buy	+15,034	New	+$412K	﹤0.01%	3512
2018 Q3	–	Sell	-14,137	Closed	-$665K	–	4221
2018 Q2	$665K	Buy	14,137 +9,355	+196%	+$434K	﹤0.01%	3036
2018 Q1	$210K	Buy	+4,782	New	+$214K	﹤0.01%	3358
2016 Q3	–	Sell	-8,100	Closed	-$271K	–	3559
2016 Q2	$271K	Sell	8,100 -10,993	-58%	-$363K	﹤0.01%	2778
2016 Q1	$565K	Buy	19,093 +8,371	+78%	+$254K	﹤0.01%	2454
2015 Q4	$282K	Buy	10,722 +2,528	+31%	+$78.9K	﹤0.01%	2926
2015 Q3	$250K	Buy	+8,194	New	+$270K	﹤0.01%	3013
2015 Q2	–	Sell	-7,482	Closed	-$294K	–	3777
2015 Q1	$294K	Sell	7,482 -7,488	-50%	-$303K	﹤0.01%	3051
2014 Q4	$536K	Buy	+14,970	New	+$706K	﹤0.01%	2926

Other funds holding SBR

Americana Partners Houston, Texas $3.85B AUM 23.11% 1-Year Est. Return

PFS

Prospera Financial Services Dallas, Texas $6.89B AUM 37.41% 1-Year Est. Return

Luther King Capital Management (LKCM) Fort Worth, Texas $23.1B AUM 21.31% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

HKAM

Horizon Kinetics Asset Management New York $9.23B AUM 27.52% 1-Year Est. Return

BPA

Beacon Pointe Advisors Newport Beach, California $18.9B AUM 18.9% 1-Year Est. Return

Fayez Sarofim & Co Houston, Texas $39.1B AUM 15.14% 1-Year Est. Return

HFS

Howard Financial Services Dallas, Texas $1B AUM 20.02% 1-Year Est. Return

Citadel Advisors Miami, Florida $618B AUM 30.34% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Millennium Management's SBR Position: Q4 2025 in Review

Millennium Management sold out of Sabine Royalty Trust (SBR) in Q4 2025, closing a stake of 4,470 shares — an estimated $355K sold.

Millennium Management first reported a position in SBR in Q4 2014 and held it in 15 quarters. The position peaked at $665K in Q2 2018. 143 funds tracked by Wall St. Rank hold SBR as of Q4 2025.

Millennium Management reported no remaining Sabine Royalty Trust position as of Q4 2025 after selling out during the quarter.
Millennium Management sold 4,470 Sabine Royalty Trust shares in Q4 2025, an estimated $355K.
Millennium Management first reported a position in Sabine Royalty Trust in Q4 2014 and held it in 15 quarters.
Millennium Management's Sabine Royalty Trust position peaked at $665K in Q2 2018.
143 funds tracked by Wall St. Rank held Sabine Royalty Trust as of Q4 2025.

Based on Millennium Management's 13F filing for Q4 2025, filed 17 Feb 2026.