Vault-13

SABINE RTY TR SBR

UNIT BEN INT · Royalty Trst · CUSIP 785688102

138 institutional holders +9 vs Q1 2025
1,976,2852.0m shares reported held*
$131.6mreported value*
14 new 33 added 34 reduced 6 sold out net bought ≈ $3.7m (+55.6k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $66.61.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 108Q4 22: 123Q1 23: 129Q2 23: 124Q3 23: 121Q4 23: 113Q1 24: 113Q2 24: 123Q3 24: 129Q4 24: 129Q1 25: 129Q2 25: 138138Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022108
Q4 2022123
Q1 2023129
Q2 2023124
Q3 2023121
Q4 2023113
Q1 2024113
Q2 2024123
Q3 2024129
Q4 2024129
Q1 2025129
Q2 2025138

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 23: 39 bought or addedQ3 23: 44 cut or sold outQ4 23: 25 bought or addedQ4 23: 44 cut or sold outQ4 23Q1 24: 39 bought or addedQ1 24: 36 cut or sold outQ2 24: 47 bought or addedQ2 24: 36 cut or sold outQ2 24Q3 24: 49 bought or addedQ3 24: 30 cut or sold outQ4 24: 43 bought or addedQ4 24: 44 cut or sold outQ4 24Q1 25: 51 bought or addedQ1 25: 32 cut or sold outQ2 25: 47 bought or addedQ2 25: 40 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20233944
Q4 20232544
Q1 20243936
Q2 20244736
Q3 20244930
Q4 20244344
Q1 20255132
Q2 20254740

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20k$40k$60k$80kQ3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $67.5kQ1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —
Numbers
QuarterCallsPutsP/C
Q3 2024$0$0—
Q4 2024$0$0—
Q1 2025$0$67.5k—
Q2 2025$0$0—

Biggest buyers

Americana Partners, LLC New +37,155+37.2k
MOODY NATIONAL BANK TRUST DIVISION New +35,185+35.2k
MARSHALL WACE, LLP New +23,172+23.2k
MORGAN STANLEY Added +19,332+19.3k
CITADEL ADVISORS LLC Added +14,656+14.7k
TWO SIGMA INVESTMENTS, LP Added +13,502+13.5k
Cresset Asset Management, LLC New +13,005+13.0k
Uniplan Investment Counsel, Inc. New +12,859+12.9k
Summit Trail Advisors, LLC New +8,500+8.5k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +7,846+7.8k

Biggest sellers

Fayez Sarofim & Co Reduced -91,598-91.6k
Blue Trust, Inc. Reduced -11,833-11.8k
HOWARD FINANCIAL SERVICES, LTD. Reduced -9,619-9.6k
HORIZON KINETICS ASSET MANAGEMENT LLC Reduced -8,760-8.8k
JANE STREET GROUP, LLC Reduced -7,127-7.1k
CHILTON CAPITAL MANAGEMENT LLC Reduced -5,504-5.5k
Geneos Wealth Management Inc. Reduced -4,727-4.7k
WELLS FARGO & COMPANY/MN Reduced -4,101-4.1k
UBS Group AG Reduced -4,005-4.0k
XTX Topco Ltd Sold out -3,864-3.9k

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Beacon Pointe Advisors, LLC 0.14% of their portfolio NEWPORT BEACH, CA 195,894195.9k $13.0m $13.0m 0.14% Added +2.4k +2,443
2 KING LUTHER CAPITAL MANAGEMENT CORP 0.04% of their portfolio FORT WORTH, TX 143,555143.6k $9.6m $9.6m 0.04% Unchanged
3 Fayez Sarofim & Co 0.02% of their portfolio Houston, TX 134,038134.0k $8.9m $8.9m 0.02% Reduced -91.6k -91,598
4 HORIZON KINETICS ASSET MANAGEMENT LLC 0.09% of their portfolio NEW YORK, NY 109,521109.5k $7.3m $7.3m 0.09% Reduced -8.8k -8,760
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 90,46690.5k $6.0m $6.0m 0.00% Added +19.3k +19,332
6 HOWARD FINANCIAL SERVICES, LTD. 0.59% of their portfolio DALLAS, TX 67,81467.8k $4.5m $4.5m 0.59% Reduced -9.6k -9,619
7 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 56,13056.1k $3.7m $3.7m 0.01% Added +13.5k +13,502
8 Americana Partners, LLC 0.09% of their portfolio Houston, TX 37,15537.2k $2.5m $2.5m 0.09% New
9 CHILTON CAPITAL MANAGEMENT LLC 0.09% of their portfolio HOUSTON, TX 35,52335.5k $2.4m $2.4m 0.09% Reduced -5.5k -5,504
10 MOODY NATIONAL BANK TRUST DIVISION 0.21% of their portfolio GALVESTON, TX 35,18535.2k $2.3m $2.3m 0.21% New
11 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 31,58831.6k $2.1m $2.1m 0.00% Added +1.9k +1,872
12 SCS Capital Management LLC 0.02% of their portfolio BOSTON, MA 31,11531.1k $2.1m $2.1m 0.02% Unchanged
13 Prospera Financial Services Inc 0.04% of their portfolio Dallas, TX 31,05931.1k $2.1m $2.1m 0.04% Added +1.5k +1,462
14 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 28,49628.5k $1.9m $1.9m 0.00% Added +3.0k +3,026
15 Clare Market Investments LLC 0.41% of their portfolio DALLAS, TX 27,64327.6k $1.8m $1.8m 0.41% Reduced -150 -150
16 Capital Analysts, LLC 0.06% of their portfolio FORT WASHINGTON, PA 27,42527.4k $1.8m $1.8m 0.06% Added +3.8k +3,830
17 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 26,09526.1k $1.7m $1.7m 0.00% Added +14.7k +14,656
18 Concurrent Investment Advisors, LLC 0.03% of their portfolio Tampa, FL 25,35525.4k $1.7m $1.7m 0.03% Reduced -3.1k -3,069
19 Mraz, Amerine & Associates, Inc. 0.26% of their portfolio Modesto, CA 24,52524.5k $1.6m $1.6m 0.26% Reduced -250 -250
20 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 24,16424.2k $1.6m $1.6m 0.00% Added +7.8k +7,846
21 VeraBank, N.A. 0.32% of their portfolio HENDERSON, TX 24,02424.0k $1.6m $1.6m 0.32% Unchanged
22 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 23,17223.2k $1.5m $1.5m 0.00% New
23 Greenfield Seitz Capital Management, LLC 0.54% of their portfolio DALLAS, TX 23,10023.1k $1.5m $1.5m 0.54% Reduced -100 -100
24 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 22,92322.9k $1.5m $1.5m 0.00% Added +888 +888
25 PEAPACK GLADSTONE FINANCIAL CORP 0.02% of their portfolio BEDMINSTER, NJ 22,28322.3k $1.5m $1.5m 0.02% Added +1.8k +1,806
26 BWM Planning, LLC 0.50% of their portfolio THE WOODLANDS, TX 21,55221.6k $1.4m $1.4m 0.50% Unchanged
27 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 21,40521.4k $1.4m $1.4m 0.00% Reduced -1.4k -1,385
28 Moors & Cabot, Inc. 0.06% of their portfolio BOSTON, MA 18,54218.5k $1.2m $1.2m 0.06% Reduced -299 -299
29 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 17,76817.8k $1.2m $1.2m 0.00% Added +1.3k +1,326
30 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 17,07017.1k $1.1m $1.1m 0.00% Reduced -100 -100
31 Blue Trust, Inc. 0.01% of their portfolio BRENTWOOD, TN 17,00917.0k $1.1m $1.1m 0.01% Reduced -11.8k -11,833
32 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 16,71016.7k $1.1m $1.1m 0.00% Reduced -4.1k -4,101
33 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 16,03216.0k $1.1m $1.1m 0.00% Reduced -194 -194
34 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 15,67315.7k $1.0m $1.0m 0.00% Added +21 +21
35 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 14,88314.9k $990.1k $990.1k 0.00% Unchanged
36 PFG Advisors 0.05% of their portfolio Phoenix, AZ 14,84614.8k $986.5k $986.5k 0.05% Added +50 +50
37 TRANSCEND CAPITAL ADVISORS, LLC 0.07% of their portfolio MADISON, NJ 14,48014.5k $965.5k $965.5k 0.07% Unchanged
38 UBS Group AG 0.00% of their portfolio ZURICH, V8 14,03714.0k $936.0k $936.0k 0.00% Reduced -4.0k -4,005
39 MCDANIEL TERRY & CO 0.08% of their portfolio AUSTIN, TX 14,00014.0k $933.5k $933.5k 0.08% Unchanged
40 Cresset Asset Management, LLC 0.00% of their portfolio Chicago, IL 13,00513.0k $867.2k $867.2k 0.00% New
41 Sendero Wealth Management, LLC 0.11% of their portfolio SAN ANTONIO, TX 12,92712.9k $862.0k $862.0k 0.11% Unchanged
42 Uniplan Investment Counsel, Inc. 0.09% of their portfolio MILWAUKEE, WI 12,85912.9k $857.5k $857.5k 0.09% New
43 AMG National Trust Bank 0.02% of their portfolio GREENWOOD VILLAGE, CO 12,68012.7k $844.0k $844.0k 0.02% Unchanged
44 Capital Investment Advisors, LLC 0.01% of their portfolio ATLANTA, GA 12,65312.7k $841.0k $841.0k 0.01% Added +193 +193
45 RAHLFS CAPITAL, LLC 0.73% of their portfolio LAKE KIOWA, TX 11,98512.0k $798.1k $798.1k 0.73% Added +175 +175
46 MOTCO 0.07% of their portfolio SAN ANTONIO, TX 11,60011.6k $769.0k $769.0k 0.07% Unchanged
47 Fielder Capital Group LLC 0.20% of their portfolio NASHVILLE, TN 11,37711.4k $758.6k $758.6k 0.20% Unchanged
48 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 10,80010.8k $720.1k $720.1k 0.00% Added +3.2k +3,154
49 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 10,79610.8k $715.6k $715.6k 0.01% Added +7.7k +7,708
50 Robertson Stephens Wealth Management, LLC 0.02% of their portfolio San Francisco, CA 10,60010.6k $704.4k $704.4k 0.02% Unchanged
51 Verdence Capital Advisors LLC 0.05% of their portfolio HUNT VALLEY, MD 10,50010.5k $700.1k $700.1k 0.05% Unchanged
52 EXENCIAL WEALTH ADVISORS, LLC 0.02% of their portfolio OKLAHOMA CITY, OK 10,35710.4k $688.2k $688.2k 0.02% Unchanged
53 Burford Brothers, Inc. 0.31% of their portfolio DALLAS, TX 10,14210.1k $673.9k $673.9k 0.31% Added +142 +142
54 FRANKLIN STREET ADVISORS INC /NC 0.04% of their portfolio CHAPEL HILL, NC 10,08110.1k $672.0k $672.0k 0.04% Unchanged
55 State of Wyoming 0.08% of their portfolio CHEYENNE, WY 9,3009.3k $620.1k $620.1k 0.08% Added +340 +340
56 RWA WEALTH PARTNERS, LLC 0.01% of their portfolio BOSTON, MA 9,1979.2k $613.3k $613.3k 0.01% Reduced -165 -165
57 Essex Financial Services, Inc. 0.04% of their portfolio ESSEX, CT 9,1869.2k $612.5k $612.5k 0.04% Reduced -229 -229
58 BROWN ADVISORY INC 0.00% of their portfolio BALTIMORE, MD 9,1009.1k $606.8k $606.8k 0.00% Reduced -300 -300
59 CHILTON INVESTMENT CO INC. 0.01% of their portfolio STAMFORD, CT 9,0679.1k $604.6k $604.6k 0.01% Unchanged
60 INDEPENDENT FINANCIAL GROUP, LLC 0.02% of their portfolio SAN DIEGO, CA 8,6878.7k $579.3k $579.3k 0.02% Reduced -13 -13
61 Summit Trail Advisors, LLC 0.01% of their portfolio NEW YORK, NY 8,5008.5k $566.8k $566.8k 0.01% New
62 Carnegie Investment Counsel 0.01% of their portfolio PEPPER PIKE, OH 7,5077.5k $500.6k $500.6k 0.01% Added +207 +207
63 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,2297.2k $482.0k $482.0k 0.00% Added +290 +290
64 NorthCoast Asset Management LLC 0.00% of their portfolio STAMFORD, CT 7,0327.0k $467.3k $467.3k 0.00% Unchanged
65 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 6,8836.9k $459.0k $459.0k 0.00% Unchanged
66 PRIVATE TRUST CO NA 0.04% of their portfolio CLEVELAND, OH 6,8006.8k $453.4k $453.4k 0.04% Unchanged
67 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 6,6446.6k $442.2k $442.2k 0.00% Reduced -81 -81
68 BOKF, NA 0.01% of their portfolio TULSA, OK 6,5006.5k $433.4k $433.4k 0.01% Unchanged
69 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 6,2746.3k $418.0k $418.0k 0.00% Added +26 +26
70 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 6,2166.2k $414.5k $414.5k 0.00% Reduced -1.1k -1,056
71 Hilltop Holdings Inc. 0.03% of their portfolio DALLAS, TX 6,1766.2k $411.8k $411.8k 0.03% Added +76 +76
72 HOLDERNESS INVESTMENTS CO 0.09% of their portfolio GREENSBORO, NC 6,0006.0k $398.7k $398.7k 0.09% Unchanged
73 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 5,9265.9k $395.1k $395.1k 0.00% Added +425 +425
74 1900 WEALTH MANAGEMENT LLC 0.03% of their portfolio SAN ANTONIO, TX 5,9085.9k $393.5k $393.5k 0.03% Unchanged
75 Custos Family Office, LLC 0.12% of their portfolio AUSTIN, TX 5,5645.6k $371.0k $371.0k 0.12% Unchanged
76 WESTWOOD HOLDINGS GROUP INC 0.00% of their portfolio DALLAS, TX 5,3255.3k $355.1k $355.1k 0.00% Added +22 +22
77 Geneos Wealth Management Inc. 0.01% of their portfolio ENGLEWOOD, CO 5,2575.3k $350.5k $350.5k 0.01% Reduced -4.7k -4,727
78 BEACON FINANCIAL GROUP 0.04% of their portfolio DALLAS, TX 5,2555.3k $349.2k $349.2k 0.04% Unchanged
79 Sunbelt Securities, Inc. 0.03% of their portfolio HOUSTON, TX 5,0005.0k $324.1k $324.1k 0.03% Unchanged
80 Argent Trust Co 0.01% of their portfolio NASHVILLE, TN 4,9775.0k $331.9k $331.9k 0.01% Unchanged
81 Tyche Wealth Partners LLC 0.06% of their portfolio PLANO, TX 4,7584.8k $317.3k $317.3k 0.06% Unchanged
82 Significant Wealth Partners LLC 0.15% of their portfolio CARY, IL 4,7394.7k $314.9k $314.9k 0.15% Reduced -470 -470
83 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 4,2774.3k $285.2k $285.2k 0.00% Reduced -7.1k -7,127
84 Oxbow Advisors, LLC 0.03% of their portfolio Austin, TX 4,0914.1k $271.8k $271.8k 0.03% Unchanged
85 M.E. ALLISON & CO., INC. 0.22% of their portfolio SAN ANTONIO, TX 4,0614.1k $270.8k $270.8k 0.22% Unchanged
86 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,0174.0k $267.9k $267.9k 0.00% Reduced -673 -673
87 FAIRFIELD, BUSH & CO. 0.15% of their portfolio DARIEN, CT 3,9514.0k $262.8k $262.8k 0.15% Reduced -100 -100
88 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 3,9293.9k $262.0k $262.0k 0.00% Reduced -248 -248
89 PFG Investments, LLC 0.02% of their portfolio WOODBURY, NY 3,8983.9k $259.9k $259.9k 0.02% New
90 REGIONS FINANCIAL CORP 0.00% of their portfolio BIRMINGHAM, AL 3,8193.8k $254.7k $254.7k 0.00% Unchanged
91 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 3,7293.7k $248.5k $248.5k 0.00% Unchanged
92 Pathstone Holdings, LLC 0.00% of their portfolio ENGLEWOOD, NJ 3,6173.6k $241.2k $241.2k 0.00% Unchanged
93 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 3,5703.6k $237.4k $237.4k 0.00% Reduced -396 -396
94 Ackerman Capital Advisors, LLC 0.05% of their portfolio DALLAS, TX 3,4173.4k $227.1k $227.1k 0.05% Unchanged
95 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 3,3243.3k $221.6k $221.6k 0.00% Unchanged
96 Atria Wealth Solutions, Inc. 0.00% of their portfolio NEW YORK, NY 3,0783.1k $205.2k $205.2k 0.00% New
97 Focus Partners Advisor Solutions, LLC 0.00% of their portfolio SAINT LOUIS, MO 3,0583.1k $203.9k $203.9k 0.00% Unchanged
98 Prime Capital Investment Advisors, LLC 0.00% of their portfolio OVERLAND PARK, KS 3,0003.0k $200.0k $200.0k 0.00% Unchanged
99 ISLAY CAPITAL MANAGEMENT, LLC 0.13% of their portfolio Lubbock, TX 3,0003.0k $199.3k $199.3k 0.13% Reduced -1.0k -1,000
100 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,9282.9k $196.0k $196.0k 0.00% Added +2.0k +2,044