Kimbell Royalty Partners (KRP) holder trims stake to 4.8% in exit 13D

Rhea-AI Filing Summary

Kimbell Art Foundation filed Amendment No. 7 to its Schedule 13D on Kimbell Royalty Partners, LP, reporting beneficial ownership of 5,135,020 Common Units, or 4.8% of the class. Because its stake is now below five percent, this amendment is designated as an exit filing for the reporting person.

The reported holdings include 5,135,020 OpCo Common Units of Kimbell Royalty Operating, LLC, together with an equal number of Class B Units of the issuer, which are exchangeable on a one-for-one basis into Common Units. The percentage is based on 107,888,028 Common Units outstanding as of October 31, 2025.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

Kimbell Royalty Partners, LP

(Name of Issuer)

Common Units Representing Limited Partner Interests

(Title of Class of Securities)

49435R102

(CUSIP Number)

Brenda Cline
3230 Camp Bowie Boulevard, Suite 600
Fort Worth, TX, 76107
(817) 336-6100

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/17/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 49435R102

1

Name of reporting person

Kimbell Art Foundation

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,135,020.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,135,020.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,135,020.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.8 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Lines 7 and 9: Includes 5,135,020 common units representing limited liability company interests ("OpCo Common Units") of Kimbell Royalty Operating, LLC, a Delaware limited liability company, which, together with an equal number of Class B common units representing limited partner interests ("Class B Units") of the Issuer, are exchangeable on a one-for-one basis for Common Units. Line 13: Based on 107,888,028 Common Units, which consists of 93,396,488 Common Units plus 14,491,540 Common Units that may be received upon exchange of an equal number of OpCo Common Units and Class B Units, each outstanding as of October 31, 2025, which is the most recent date that the Issuer has reported such information. The Reporting Person has ceased to be the beneficial owner of more than five percent (5%) of the shares of the Issuer's Common Units outstanding. The filing of this Amendment constitutes an exit filing for the Reporting Person.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Units Representing Limited Partner Interests
(b)	Name of Issuer: Kimbell Royalty Partners, LP
(c)	Address of Issuer's Principal Executive Offices: 777 Taylor Street, Suite 810, Fort Worth, TEXAS , 76102.
Item 4.	Purpose of Transaction
	This Amendment No. 7 (this "Amendment") amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") originally on February 17, 2017, as amended and restated on September 1, 2017, August 3, 2018, October 4, 2018, November 29, 2018, December 31, 2018, September 21, 2021 (together with this Amendment, the "Schedule 13D"), on behalf of Kimbell Art Foundation, a Texas non-profit corporation ("KAF" or the "Reporting Person"), with respect to the common units representing limited partner interests ("Common Units") of Kimbell Royalty Partners, LP, a Delaware limited partnership (the "Issuer"). This Amendment is the final amendment to the Schedule 13D and constitutes an "exit filing" for the Reporting Person.
Item 5.	Interest in Securities of the Issuer
(a)	4.8%
(b)	5,135,020
(e)	As of the date hereof, the Reporting Person is no longer the beneficial owner of more than 5% of the Issuer's Common Units outstanding. The filing of this Amendment constitutes an exit filing for the Reporting Person.
Item 7.	Material to be Filed as Exhibits.
	99.1 Joint Filing Agreement, dated as of February 17, 2017, by and among Ben J. Fortson and the Reporting Person (filed as Exhibit 99.1 to the Reporting Person's Schedule 13D filed with the SEC on February 17, 2017 and incorporated herein in its entirety by reference). 99.2 Executive Officers and Directors of KAF (filed as Exhibit 99.2 to the Reporting Person's Schedule 13D filed with the SEC on August 3, 2018 and incorporated herein in its entirety by reference). 99.3 Contribution, Conveyance, Assignment and Assumption Agreement, dated as of December 20, 2016, by and among the Issuer, the General Partner, Kimbell Intermediate GP, LLC, Kimbell Intermediate Holdings, LLC, Kimbell Royalty Holdings, LLC and the other parties named therein (filed as Exhibit 2.1 to the Issuer's Registration Statement on Form S-1 (File No. 333-215458), as amended, initially filed with the SEC on January 6, 2017 and incorporated herein in its entirety by reference). 99.4 First Amended and Restated Limited Liability Company Agreement of the General Partner, dated as of February 8, 2017 (filed as Exhibit 3.2 to the Issuer's Current Report on Form 8-K filed with the SEC on February 14, 2017 and incorporated herein in its entirety by reference). 99.5 Recapitalization Agreement, dated as of July 24, 2018, by and among KAF, the other Exchange Right Holders, the Issuer, the General Partner, the Operating Company and Haymaker Resources, LP (filed as Exhibit 10.1 to the Issuer's Current Report on Form 8-K filed with the SEC on July 27, 2018 and incorporated herein in its entirety by reference). 99.6 Exchange Agreement, dated as of September 23, 2018, by and among Haymaker Minerals & Royalties, LLC, EIGF Aggregator III LLC, TE Drilling Aggregator LLC, Haymaker Management, LLC, Kimbell Art Foundation, Kimbell Royalty Partners, LP, Kimbell Royalty GP, LLC and Kimbell Royalty Operating, LLC (filed as Exhibit 10.1 to the Issuer's Current Report on Form 8-K filed with the SEC on September 25, 2018 and incorporated herein in its entirety by reference). 99.7 Fifth Amended and Restated Agreement of Limited Partnership of Kimbell Royalty Partners, LP, dated as of September 13, 2023 (incorporated by reference to Exhibit 3.1 to Kimbell Royalty Partners, LP's Current Report on Form 8-K filed September 13, 2023 and incorporated herein by reference). 99.8 Third Amended and Restated Limited Liability Company Agreement of Kimbell Royalty Operating, LLC, dated as of September 13, 2023 (incorporated by reference to Exhibit 3.2 to Kimbell Royalty Partners, LP's Current Report on Form 8 K filed on September 13, 2023 and incorporated herein by reference). 99.9 Purchase and Sale Agreement, dated as of November 20, 2018, by and among Rivercrest Capital Partners LP, Kimbell Art Foundation, Cupola Royalty Direct, LLC, Rivercrest Royalties Holdings II, LLC, Kimbell Royalty Partners, LP and Kimbell Royalty Operating, LLC (filed as Exhibit 10.1 to the Issuer's Current Report on Form 8-K filed with the SEC on November 23, 2018 and incorporated herein in its entirety by reference). 99.10 Registration Rights Agreement, dated as of December 20, 2018, by and among Rivercrest Capital Partners LP, Kimbell Art Foundation, Cupola Royalty Direct, LLC, Rivercrest Royalties Holdings II, LLC and Kimbell Royalty Partners, LP (filed as Exhibit 4.1 to the Issuer's Current Report on Form 8-K filed with the SEC on December 28, 2018 and incorporated herein in its entirety by reference).

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.

Kimbell Art Foundation

Signature:	/s/ Brenda Cline
Name/Title:	Chief Financial Officer
Date:	02/17/2026

FAQ

What did Kimbell Art Foundation disclose in this Schedule 13D/A for KRP?

Kimbell Art Foundation disclosed that it beneficially owns 5,135,020 Common Units of Kimbell Royalty Partners, LP. This represents 4.8% of the outstanding class and causes the filing to be treated as an exit filing under beneficial ownership rules.

What percentage of Kimbell Royalty Partners (KRP) does Kimbell Art Foundation now own?

Kimbell Art Foundation reports beneficial ownership of 4.8% of Kimbell Royalty Partners’ Common Units. This percentage is calculated using 107,888,028 Common Units outstanding as of October 31, 2025, as disclosed by the issuer in its most recent reporting.

How many KRP units are beneficially owned by Kimbell Art Foundation?

Kimbell Art Foundation beneficially owns 5,135,020 Common Units of Kimbell Royalty Partners, LP. These include OpCo Common Units and corresponding Class B Units that are exchangeable on a one-for-one basis into Common Units of the issuer.

Why is this Schedule 13D amendment for KRP described as an exit filing?

The amendment is an exit filing because Kimbell Art Foundation’s beneficial ownership has fallen below five percent of Kimbell Royalty Partners’ outstanding Common Units. At 4.8% ownership, the reporting person no longer meets the threshold requiring ongoing Schedule 13D reporting.

What securities of Kimbell Royalty Partners (KRP) are covered in this filing?

The filing covers Common Units representing limited partner interests of Kimbell Royalty Partners, LP. It also describes OpCo Common Units and an equal number of Class B Units that are exchangeable on a one-for-one basis into these publicly traded Common Units.

On what ownership base is Kimbell Art Foundation’s 4.8% KRP stake calculated?

The 4.8% beneficial ownership is based on 107,888,028 Common Units of Kimbell Royalty Partners, LP. This total includes 93,396,488 outstanding Common Units plus 14,491,540 units issuable upon exchange of OpCo Common Units and Class B Units as of October 31, 2025.