Viper Energy, Inc. ownership disclosure: multiple EnCap-related entities report combined beneficial ownership of 8,061,914 shares of Class A Common Stock, representing 3.99% of the class. The filing attributes the position to holdings of OpCo Units and related Class B option/exchange mechanics and states supporting share counts as of May 1, 2026.
The filing explains that certain OpCo Units are exchangeable one-for-one for Class A shares and that calculations assume conversion/exchange of specified OpCo Units held by Tumbleweed Royalty IV, LLC and EnCap funds. Signatures indicate authorized filers from EnCap entities dated 05/15/2026.
Positive
None.
Negative
None.
Insights
Ownership structure clarified: EnCap-related funds report a 3.99% beneficial stake in Class A stock.
The filing details that 6,746,384 OpCo Units held by Tumbleweed Royalty IV and 1,315,530 OpCo Units held by EnCap Fund X are treated as exchangeable one-for-one into Class A Common Stock for the purpose of calculating combined ownership percentages as of May 1, 2026. It lists the chain of fund and manager entities that may be deemed to beneficially own those units.
Cash-flow treatment is not stated; the filing preserves standard disclaimers regarding beneficial ownership attribution and includes executed signatures dated 05/15/2026. Subsequent filings would show any conversions or voting changes.
Key Figures
Beneficial ownership:8,061,914 sharesPercent of class:3.99%TWR IV OpCo Units:6,746,384 units+3 more
6 metrics
Beneficial ownership8,061,914 sharesClass A Common Stock; reported in Item 4
Percent of class3.99%Percent of Class A Common Stock as reported in Item 4
TWR IV OpCo Units6,746,384 unitsOpCo Units directly held by Tumbleweed Royalty IV, LLC (exchangeable one-for-one)
EnCap Fund X OpCo Units1,315,530 unitsOpCo Units directly held by EnCap Energy Capital Fund X, L.P.
Class A outstanding used194,215,015 sharesClass A Common Stock outstanding as of <date>May 1, 2026</date> (source: Quarterly Report)
Class B outstanding164,810,547 sharesClass B Common Stock outstanding as of <date>May 1, 2026</date>
Key Terms
OpCo Units, Class B Option, exchangeable one-for-one, shared dispositive power
4 terms
OpCo Unitsfinancial
"OpCo Units ("OpCo Units") representing limited liability company interests in Viper Energy Partners LLC"
Class B Optionfinancial
"an option (the "Class B Option") to acquire an equal number of shares of Class B Common Stock"
exchangeable one-for-onefinancial
"OpCo Units held by TWR IV are exchangeable for an equal number of shares of Class A Common Stock"
What stake does EnCap report in Viper Energy (VNOM)?
EnCap-related entities report a combined beneficial ownership of 8,061,914 shares of Class A Common Stock, equal to 3.99% of the class as stated in the filing.
How are OpCo Units treated in this VNOM filing?
The filing states certain OpCo Units are exchangeable one-for-one for Class A Common Stock; calculations assume specified OpCo Units are converted into newly issued Class A shares as of May 1, 2026.
Which EnCap entities are named in the Schedule 13G/A for VNOM?
Named filers include Tumbleweed Royalty IV, LLC, EnCap Energy Capital Fund X, L.P., EnCap Energy Capital Fund XI, L.P., and EnCap Partners GP, LLC, with principal addresses provided in the filing.
What dates anchor the ownership and signatures in the VNOM filing?
Share-count calculations reference May 1, 2026 for outstanding share figures and the filing bears authorized signatures dated 05/15/2026 from EnCap representatives.
Does the filing state who controls voting or disposition of the shares?
The filing reports shared voting power and shared dispositive power over 8,061,914 shares and indicates 0 sole voting or dispositive power in Item 4.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Viper Energy, Inc.
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
927959106
(CUSIP Number)
03/02/2026
(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):
927959106
1
Names of Reporting Persons
Tumbleweed Royalty IV, LLC
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
6,746,384.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,746,384.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,746,384.00
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)
3.36 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person:
(1) Tumbleweed Royalty IV, LLC ("TWR IV") is the direct holder of 6,746,384 units ("OpCo Units") representing limited liability company interests in Viper Energy Partners LLC, a Delaware limited liability company ("OpCo"), and an option (the "Class B Option") to acquire an equal number of shares of Class B Common Stock ("Class B Common Stock") of Viper Energy, Inc. (the "Issuer"). Prior to the exercise of the Class B Option by TWR IV, the OpCo Units held by TWR IV are exchangeable for an equal number of shares of Class A Common Stock ("Class A Common Stock") of the Issuer. Following the exercise of the Class B Option by TWR IV, the Class B Common Stock and an equal number of OpCo Units are exchangeable for an equal number of shares of Class A Common Stock of the Issuer.
(2) This calculation is based on an assumed combined total of 200,961,399 shares of Class A Common Stock outstanding, which consists of: (a) a total of 194,215,015 shares of Class A Common Stock outstanding as of May 1, 2026, as reported by the Issuer in its Quarterly Report on Form 10-Q for the period ended March 31, 2026 filed with the Securities and Exchange Commission ("SEC") on May 6, 2026 (the "Quarterly Report"); and (b) assumes that all 6,746,384 OpCo Units directly held by TWR IV were exchanged for newly-issued shares of Class A Common Stock on a one-for-one basis. There were a total of 164,810,547 shares of Class B Common Stock outstanding as of May 1, 2026, as reported by the Issuer in the Quarterly Report.
SCHEDULE 13G
CUSIP Number(s):
927959106
1
Names of Reporting Persons
EnCap Energy Capital Fund X, L.P.
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
TEXAS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,315,530.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,315,530.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,315,530.00
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)
0.67 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
(3) EnCap Energy Capital Fund X, L.P. ("EnCap Fund X") is the direct holder of 1,315,530 OpCo Units, which are, together with an equal number of shares of Class B Common Stock, exchangeable for an equal number of shares of Class A Common Stock.
(4) This calculation is based on an assumed combined total of 195,530,545 shares of Class A Common Stock outstanding, which consists of: (a) a total of 194,215,015 shares of Class A Common Stock outstanding as of May 1, 2026, as reported by the Issuer in the Quarterly Report; and (b) assumes that all 1,315,530 OpCo Units directly held by EnCap Fund X were exchanged for newly-issued shares of Class A Common Stock on a one-for-one basis. There were a total of 164,810,547 shares of Class B Common Stock outstanding as of May 1, 2026, as reported by the Issuer in the Annual Report.
SCHEDULE 13G
CUSIP Number(s):
927959106
1
Names of Reporting Persons
EnCap Energy Capital Fund XI, L.P.
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
TEXAS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
6,746,384.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,746,384.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,746,384.00
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)
3.36 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
(5) Includes 6,746,384 OpCo Units owned directly by TWR IV. EnCap Energy Capital Fund XI, L.P. ("EnCap Fund XI") is the managing member of TWR IV.
(6) See footnote (2).
SCHEDULE 13G
CUSIP Number(s):
927959106
1
Names of Reporting Persons
EnCap Partners GP, LLC
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
8,061,914.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
8,061,914.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
8,061,914.00
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)
3.99 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person:
(7) Includes 6,746,384 OpCo Units owned directly by TWR IV and 1,315,530 OpCo Units owned directly by EnCap Fund X. EnCap Partners GP, LLC ("EnCap Partners GP") is the sole general partner of EnCap Partners, LP ("EnCap Partners"), which is the managing member of EnCap Investments Holdings, LLC ("EnCap Holdings"), which is the sole member of EnCap Investments GP, L.L.C. ("EnCap Investments GP"), which is the sole general partner of EnCap Investments L.P. ("EnCap Investments LP"). EnCap Investments LP is the sole member of EnCap Equity Fund XI GP, LLC ("EnCap Fund XI GP"), which is the general partner of EnCap Equity Fund XI GP, L.P. ("EnCap Fund XI LP"), which is the sole general partner of EnCap Fund XI, which is the managing member of TWR IV. EnCap Investments LP is the general partner of EnCap Equity Fund X GP, L.P. ("EnCap Fund X GP"), which is the general partner of EnCap Fund X. Therefore, EnCap Partners GP, EnCap Partners, EnCap Holdings, EnCap Investments GP, EnCap Investments LP and EnCap Fund XI GP may be deemed to beneficially own securities owned by EnCap Fund XI and TWR IV. EnCap Partners GP, EnCap Partners, EnCap Holdings, EnCap Investments GP, EnCap Investments LP and EnCap Fund X GP may be deemed to beneficially own securities owned by EnCap Fund X. EnCap Partners GP, EnCap Partners, EnCap Holdings, EnCap Investments GP, EnCap Investments LP, EnCap Fund XI GP LLC, EnCap Fund XI GP and EnCap Fund X GP disclaim beneficial ownership of the securities owned by EnCap Fund XI and EnCap Fund X, as applicable, except to the extent of their respective pecuniary interest therein, and this statement shall not be deemed an admission that any such entity is the beneficial owner of the reported Common Units for the purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or any other purpose.
(8) This calculation is based on an assumed combined total of 202,276,929 shares of Class A Common Stock outstanding, which consists of: (a) a total of 194,215,015 shares of Class A Common Stock outstanding as of May 1, 2026, as reported by the Issuer in the Quarterly Report; and (b) assumes that all (i) 6,746,384 OpCo Units directly held by TWR IV and (ii) 1,315,530 OpCo Units held by EnCap Fund X were exchanged for newly-issued shares of Class A Common Stock on a one-for-one basis. There were a total of 164,810,547 shares of Class B Common Stock outstanding as of May 1, 2026, as reported by the Issuer in the Quarterly Report.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Viper Energy, Inc.
(b)
Address of issuer's principal executive offices:
500 West Texas, Suite 100, Midland, TX 79701
Item 2.
(a)
Name of person filing:
Tumbleweed Royalty IV, LLC ("TWR IV")
EnCap Energy Capital Fund X, L.P. ("EnCap Fund X")
EnCap Energy Capital Fund XI, L.P. ("EnCap Fund XI")
EnCap Partners GP, LLC ("EnCap Partners GP")
(b)
Address or principal business office or, if none, residence:
The principal business address of TWR IV is: 3724 Hulen Street, Fort Worth, TX 76107
The principal business address for each of EnCap Fund X, EnCap Fund XI and EnCap Partners GP is: c/o EnCap Investments, L.P., 9651 Katy Freeway, Suite 600, Houston, TX 77024
(c)
Citizenship:
TWR IV is a Delaware limited liability company; EnCap Fund X is a Texas limited partnership; EnCap Fund XI is a Texas limited partnership; EnCap Partners GP is a Delaware limited liability company
(d)
Title of class of securities:
Class A Common Stock
(e)
CUSIP No.:
927959106
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:
8,061,914
(b)
Percent of class:
3.99%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
8,061,914
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
8,061,914
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
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.
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.
Tumbleweed Royalty IV, LLC
Signature:
/s/ John Sellers
Name/Title:
John Sellers / Co-Chief Executive Officer
Date:
05/15/2026
EnCap Energy Capital Fund X, L.P.
Signature:
/s/ Douglas E. Swanson, Jr.
Name/Title:
Douglas E. Swanson, Jr. / Managing Director (9)
Date:
05/15/2026
EnCap Energy Capital Fund XI, L.P.
Signature:
/s/ Douglas E. Swanson, Jr.
Name/Title:
Douglas E. Swanson, Jr. / Managing Director (10)
Date:
05/15/2026
EnCap Partners GP, LLC
Signature:
/s/ Douglas E. Swanson, Jr.
Name/Title:
Douglas E. Swanson, Jr. / Managing Director
Date:
05/15/2026
Comments accompanying signature: (9) By EnCap Equity Fund X GP, L.P., its general partner; by EnCap Investments L.P., its general partner; by EnCap Investments GP, L.L.C., its general partner; by EnCap Investments Holdings, LLC, its sole member; by EnCap Partners, LP, its managing member; by EnCap Partners, GP, LLC, its general partner.
(10) By EnCap Equity Fund XI GP, L.P., its general partner; by EnCap Equity Fund XI GP, LLC, its general partner; by EnCap Investments L.P., its sole member; by EnCap Investments GP, L.L.C., its general partner.
