Morgan Stanley reveals stake in Black Stone Minerals (NYSE: BSM)

Rhea-AI Filing Summary

Morgan Stanley filed a Schedule 13G reporting beneficial ownership of common units of Black Stone Minerals, L.P. (BSM). The filing states that certain Morgan Stanley reporting units hold 11,022,504 common units, representing 5.2% of the class. These units carry shared voting power over 10,591,252 units and shared dispositive power over 11,022,504 units, with no sole voting or dispositive power reported. Ownership is attributed to specific Morgan Stanley operating units, and the filing notes that other disaggregated Morgan Stanley units, if any, are not included in this reported stake.

Key Figures

Percent of class beneficially owned: 5.2 % Aggregate amount beneficially owned: 11,022,504 units Shared voting power: 10,591,252 units +3 more

6 metrics

Percent of class beneficially owned 5.2 % Common Units of Black Stone Minerals, L.P. reported by Morgan Stanley

Aggregate amount beneficially owned 11,022,504 units Common Units of Black Stone Minerals, L.P. held by Morgan Stanley reporting units

Shared voting power 10,591,252 units Units over which Morgan Stanley has shared power to vote or direct the vote

Shared dispositive power 11,022,504 units Units over which Morgan Stanley has shared power to dispose or direct disposition

Sole voting power 0 units No sole power to vote or direct the vote reported by Morgan Stanley

Sole dispositive power 0 units No sole power to dispose or direct disposition reported by Morgan Stanley

Key Terms

Schedule 13G, beneficially owned, shared dispositive power, shared voting power, +1 more

5 terms

Schedule 13G regulatory

"Morgan Stanley filed a Schedule 13G reporting beneficial ownership"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"this filing reflects the securities beneficially owned, or that may be deemed"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power financial

"Shared Dispositive Power 11,022,504.00"

shared voting power financial

"Shared Voting Power 10,591,252.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

disaggregated regulatory

"ownership of securities is disaggregated from that of the MS Reporting Units"

FAQ

What percentage of Black Stone Minerals (BSM) does Morgan Stanley report owning in this Schedule 13G?

Morgan Stanley reports beneficial ownership of 5.2% of Black Stone Minerals, L.P.’s common units. This percentage is based on 11,022,504 units deemed beneficially owned by certain Morgan Stanley reporting units, as disclosed in the Schedule 13G filing.

How many Black Stone Minerals (BSM) units does Morgan Stanley report as beneficially owned?

Morgan Stanley reports beneficial ownership of 11,022,504 common units of Black Stone Minerals, L.P. This figure is listed as the aggregate amount beneficially owned by the Morgan Stanley reporting units included in the Schedule 13G.

What voting power does Morgan Stanley report over Black Stone Minerals (BSM) units?

Morgan Stanley reports shared voting power over 10,591,252 Black Stone Minerals common units and no sole voting power. These figures reflect the voting authority of specified Morgan Stanley reporting units over the units they beneficially own.

What dispositive power over Black Stone Minerals (BSM) units does Morgan Stanley disclose?

Morgan Stanley reports shared dispositive power over 11,022,504 common units of Black Stone Minerals and no sole dispositive power. This means the included reporting units share authority to dispose of or direct the disposition of those units.

Does this Schedule 13G include all Morgan Stanley holdings in Black Stone Minerals (BSM)?

No. The filing specifies it reflects securities beneficially owned by certain Morgan Stanley reporting units only. It states that any securities held by other Morgan Stanley operating units whose ownership is disaggregated under a regulatory release are not included in this reported stake.

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Available on EDGAR 08/20/2026 - 04:50 PM Accepted by SEC EDGAR 08/20/2026 - 04:50 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Black Stone Minerals, L.P.

(Name of Issuer)

Common Units Representing Limited Partner Interests

(Title of Class of Securities)

09225M101

(CUSIP Number)

08/06/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 09225M101

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 10,591,252.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 11,022,504.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,022,504.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Black Stone Minerals, L.P.
(b)	Address of issuer's principal executive offices: 1001 FANNIN STREET, SUITE 2020, HOUSTON, TX, 77022
Item 2.
(a)	Name of person filing: Morgan Stanley
(b)	Address or principal business office or, if none, residence: 1585 Broadway, New York, NY 10036
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Units Representing Limited Partner Interests
(e)	CUSIP Number(s): 09225M101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 5.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	08/20/2026