Sabine Royalty Trust: which funds bought and sold

Institutions that bought and sold Sabine Royalty Trust shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 56 institutions that filed 13F reports for both quarters added to or opened positions in Sabine Royalty Trust, and 45 cut or closed them. Together they added a net 28K shares, +1.1% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 6,640 shares (−1.5%); index fund managers were net sellers of 2,225 shares (−12.7%). 13 opened a new position and 16 sold out entirely.

Bought, Q2 2026 56 institutions, 13 of them new holders Sold, Q2 2026 45 institutions, 16 of them sold out

Net change, all compared +28K shares (+1.1%)

Net change, active managers −6,640 shares (−1.5%), 5 bought, 5 sold

Buyers versus sellers

institutions compared, 163

56 bought 62 45 sold

Active managers and hedge funds 5 bought · 5 sold · −6,640

Index fund managers 1 bought · 1 sold · −2,225

Other institutions 50 bought · 39 sold · +37K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Cwa Asset Management Group, LLC	+71K New position	71K	$5.2M
Two Sigma Investments, LP Hedge fund	+38K +77.1%	87K	$6.4M
Beacon Pointe Advisors, LLC	+30K +13.7%	252K	$18.5M
Nuveen, LLC	+19K New position	19K	$1.4M
Americana Partners, LLC	+17K +6.3%	296K	$21.6M
Savant Capital, LLC	+16K +273.1%	22K	$1.6M
49 Wealth Management, LLC	+16K New position	16K	$1.2M
Xtx Topco Ltd	+9,872 New position	9,872	$722,630
Uniplan Investment Counsel, Inc.	+9,062 +23.1%	48K	$3.5M
Jane Street Group, LLC	+8,231 New position	8,231	$602,509
Westwood Holdings Group Inc Active manager	+6,603 +122.8%	12K	$876,940
HRT Financial LP	+5,552 +31.3%	23K	$1.7M
Cetera Investment Advisers	+5,067 +75.0%	12K	$865,525
Hamel Associates, Inc.	+4,100 New position	4,100	$300,120
Rhodes Investment Advisors Inc	+3,497 New position	3,497	$255,980
Citadel Advisors LLC Hedge fund	+3,464 +10.0%	38K	$2.8M
Mariner, LLC	+3,308 New position	3,308	$242,145
Envestnet Asset Management Inc	+3,223 +42.0%	11K	$798,234
Prospera Financial Services Inc	+2,534 +1.4%	181K	$13.2M
State Of Wyoming	+1,585 +27.3%	7,392	$541,094

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Two Sigma Investments, LP Hedge fund	+38K +77.1%	87K	$6.4M
Westwood Holdings Group Inc Active manager	+6,603 +122.8%	12K	$876,940
Citadel Advisors LLC Hedge fund	+3,464 +10.0%	38K	$2.8M
Arrowstreet Capital, Limited Partnership Hedge fund	+944 +9.2%	11K	$820,718
Lazard Asset Management LLC Active manager	+429 +2.5%	18K	$1.3M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Morgan Stanley	−69K −50.9%	66K	$4.9M
Marshall Wace, LLP Hedge fund	−47K −79.1%	12K	$898,236
Ashton Thomas Private Wealth, LLC	−31K −29.1%	76K	$5.5M
Jpmorgan Chase & Co	−15K −91.8%	1,329	$96,552
Creative Planning	−12K −67.7%	5,756	$421,320
Gk Wealth Management LLC	−10K Sold out	0	—
&Partners	−8,171 Sold out	0	—
Focus Partners Wealth	−7,032 Sold out	0	—
UBS Group AG	−4,914 −22.4%	17K	$1.2M
Voleon Capital Management LP Hedge fund	−4,395 Sold out	0	—
1900 Wealth Management LLC	−4,137 −40.3%	6,130	$448,716
Regions Financial Corp	−3,539 Sold out	0	—
Chilton Capital Management LLC	−3,398 −10.9%	28K	$2M
Moody National Bank Trust Division	−3,289 −9.3%	32K	$2.3M
Commonwealth Equity Services, LLC	−3,196 −10.1%	28K	$2.1M
Prime Capital Investment Advisors, LLC	−3,000 Sold out	0	—
Azzad Asset Management Inc	−2,959 Sold out	0	—
Blackrock, Inc. Index funds	−2,728 −23.5%	8,890	$650,748
Sfmg, LLC	−2,700 Sold out	0	—
Qube Research & Technologies Ltd Hedge fund	−2,691 −10.7%	22K	$1.6M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Marshall Wace, LLP Hedge fund	−47K −79.1%	12K	$898,236
Voleon Capital Management LP Hedge fund	−4,395 Sold out	0	—
Qube Research & Technologies Ltd Hedge fund	−2,691 −10.7%	22K	$1.6M
Quadrature Capital Ltd Hedge fund	−2,399 −29.7%	5,681	$415,849
FMR LLC Active manager	−98 −50.3%	97	$7,100

New positions

largest by value

Institution	Shares	Value June 30, 2026
Cwa Asset Management Group, LLC	71K	$5.2M
Nuveen, LLC	19K	$1.4M
49 Wealth Management, LLC	16K	$1.2M
Xtx Topco Ltd	9,872	$722,630
Jane Street Group, LLC	8,231	$602,509
Hamel Associates, Inc.	4,100	$300,120
Rhodes Investment Advisors Inc	3,497	$255,980
Mariner, LLC	3,308	$242,145
Bok Financial Private Wealth, Inc.	425	$31,110
Jones Financial Companies LLLP	300	$21,960

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Gk Wealth Management LLC	10K	$797,614
&Partners	8,171	$585,255
Focus Partners Wealth	7,032	$527,400
Voleon Capital Management LPHedge fund	4,395	$331,119
Regions Financial Corp	3,539	$266,628
Prime Capital Investment Advisors, LLC	3,000	$226,020
Azzad Asset Management Inc	2,959	$222,901
Sfmg, LLC	2,700	$203,180
Fairfield, Bush & Co.	2,676	$201,108
Rossby Financial, Lcc	1,337	$97,672

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 149
Ten largest holders: 51.6%
Index fund managers: 0.6%
Active managers and hedge funds: 16.6%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	5	5	0	1	−6,640	−1.5%
Index fund managers	1	1	0	0	−2,225	−12.7%
Other institutions	50	39	13	15	+37K	+1.7%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Sabine Royalty Trust.

Only managers that filed a holdings report for both quarters are compared (163 here). 6 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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