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KEMPNER CAPITAL MANAGEMENT INC.
> BSM
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2022 | Black Stone Minerals, L.P. | BSM | 498,616 | 0 | 8,411,652,000 | 8,403,849,000 | $16,870.00 |
| 09/30/2022 | Black Stone Minerals, L.P. | BSM | 498,616 | 0 | 7,803,000 | 977,000 | $15.65 |
| 06/30/2022 | Black Stone Minerals, L.P. | BSM | 498,616 | 0 | 6,826,000 | 115,000 | $13.69 |
| 03/31/2022 | Black Stone Minerals, L.P. | BSM | 498,616 | 0 | 6,711,000 | 1,560,000 | $13.46 |
| 12/31/2021 | Black Stone Minerals, L.P. | BSM | 498,616 | 26,595 | 5,151,000 | -537,000 | $10.33 |
| 09/30/2021 | Black Stone Minerals, L.P. | BSM | 472,021 | 1,405 | 5,688,000 | 629,000 | $12.05 |
| 06/30/2021 | Black Stone Minerals, L.P. | BSM | 470,616 | 21,000 | 5,059,000 | 2,056,000 | $10.75 |
| 12/31/2020 | Black Stone Minerals, L.P. | BSM | 449,616 | 24,500 | 3,003,000 | 393,000 | $6.68 |
| 09/30/2020 | Black Stone Minerals, L.P. | BSM | 425,116 | 0 | 2,610,000 | -153,000 | $6.14 |
| 06/30/2020 | Black Stone Minerals, L.P. | BSM | 425,116 | 0 | 2,763,000 | 773,000 | $6.50 |
| 03/31/2020 | Black Stone Minerals, L.P. | BSM | 425,116 | 42,000 | 1,990,000 | -2,883,000 | $4.68 |
| 12/31/2019 | Black Stone Minerals, L.P. | BSM | 383,116 | 100,590 | 4,873,000 | 850,000 | $12.72 |
| 09/30/2019 | Black Stone Minerals, L.P. | BSM | 282,526 | 45,000 | 4,023,000 | 341,000 | $14.24 |
| 06/30/2019 | Black Stone Minerals, L.P. | BSM | 237,526 | 84,037 | 3,682,000 | 974,000 | $15.50 |
| 03/31/2019 | Black Stone Minerals, L.P. | BSM | 153,489 | 1,700 | 2,708,000 | 358,000 | $17.64 |
| 12/31/2018 | Black Stone Minerals, L.P. | BSM | 151,789 | 21,680 | 2,350,000 | -19,000 | $15.48 |
| 09/30/2018 | Black Stone Minerals, L.P. | BSM | 130,109 | 57,100 | 2,369,000 | 1,019,000 | $18.21 |
| 06/30/2018 | Black Stone Minerals, L.P. | BSM | 73,009 | 0 | 1,350,000 | 142,000 | $18.49 |
| 03/31/2018 | Black Stone Minerals, L.P. | BSM | 73,009 | 0 | 1,208,000 | -102,000 | $16.55 |
| 12/31/2017 | Black Stone Minerals, L.P. | BSM | 73,009 | 0 | 1,310,000 | 44,000 | $17.94 |
| 09/30/2017 | Black Stone Minerals, L.P. | BSM | 73,009 | 0 | 1,266,000 | 115,000 | $17.34 |
| 06/30/2017 | Black Stone Minerals, L.P. | BSM | 73,009 | 5,000 | 1,151,000 | 28,000 | $15.77 |
| 03/31/2017 | Black Stone Minerals, L.P. | BSM | 68,009 | 50,509 | 1,123,000 | 794,000 | $16.51 |
| 12/31/2016 | Black Stone Minerals, L.P. | BSM | 17,500 | 0 | 329,000 | 17,000 | $18.80 |
| 09/30/2016 | Black Stone Minerals, L.P. | BSM | 17,500 | 0 | 312,000 | 41,000 | $17.83 |
| 06/30/2016 | Black Stone Minerals, L.P. | BSM | 17,500 | 0 | 271,000 | 26,000 | $15.49 |
| 03/31/2016 | Black Stone Minerals, L.P. | BSM | 17,500 | 17,500 | 245,000 | 245,000 | $14.00 |
| 12/31/2015 | Black Stone Minerals, L.P. | BSM | 17,400 | 3,500 | 251,000 | 59,000 | $14.43 |
| 09/30/2015 | Black Stone Minerals, L.P. | BSM | 13,900 | 13,900 | 192,000 | 192,000 | $13.81 |
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