SANTA MONICA PARTNERS LP Long-Term Concentrated

CIK: 0000904793 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $165 (100.0% shares, 0.0% debt)

Holdings (13)

Increased Positions (2)

— Texas Pacific Land Corp. - Common Stock 28.2%

Value ($000) $47 (-7.7%) Shares 161,973 (+200.0%) Est. Cost $52.24 Unrealized —

BNT Brookfield Wealth Solutions - Class A stock 0.2%

Value ($000) $0 (+1.0%) Shares 6,904 (+50.0%) Est. Cost $36.07 Unrealized +26.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Texas Pacific Land Corp. - Common Stock	161,973 (+200.0%)	$47 (-7.7%)	28.2%	$52.24	—	COM	882610108
BNT	Brookfield Wealth Solutions - Class A stock	6,904 (+50.0%)	$0 (+1.0%)	0.2%	$36.07	+26.4%	COM	G17434104

Decreased Positions (2)

LB Landbridge Company - Common Stock 0.5%

Value ($000) $1 (-41.0%) Shares 18,000 (-35.7%) Est. Cost $62.95 Unrealized -7.6%

BCPC Balchem Corp. - Common Stock 10.9%

Value ($000) $18 (-0.5%) Shares 116,854 (-2.6%) Est. Cost $79.37 Unrealized +91.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LB	Landbridge Company - Common Stock	18,000 (-35.7%)	$1 (-41.0%)	0.5%	$62.95	-7.6%	COM	514952100
BCPC	Balchem Corp. - Common Stock	116,854 (-2.6%)	$18 (-0.5%)	10.9%	$79.37	+91.2%	COM	057665200

Unchanged Positions (9)

BELFB Bel Fuse Inc. - Class B Common Stock 7.0%

Value ($000) $11 Shares 67,634 Est. Cost $25.83 Unrealized +504.7%

GRMN Garmin Ltd. - Common Stock 5.0%

Value ($000) $8 Shares 40,755 Est. Cost $55.41 Unrealized +291.1%

— Grayscale Bitcoin Trust ETF 2.7%

Value ($000) $4 Shares 64,932 Est. Cost $0.07 Unrealized —

BELFA Bel Fuse Inc. - Class A Common Stock 2.2%

Value ($000) $4 Shares 23,434 Est. Cost $23.04 Unrealized +482.1%

BR Broadridge Financial Solutions, Inc. - Common Stock 5.5%

Value ($000) $9 Shares 40,793 Est. Cost $76.08 Unrealized +198.8%

MA Mastercard Incorporated - Common Stock 35.4%

Value ($000) $58 Shares 102,170 Est. Cost $142.19 Unrealized +293.1%

— Grayscale Bitcoin Minitrust ETF 0.3%

Value ($000) $1 Shares 12,986 Est. Cost $0.04 Unrealized —

MCB Metropolitan Bank Holding Corp. - Common Stock 0.4%

Value ($000) $1 Shares 7,811 Est. Cost $43.58 Unrealized +69.5%

BRK/A Berkshire Hathaway Inc. Common Stock 1.8%

Value ($000) $3 Shares 4 Est. Cost $284799.47 Unrealized +162.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BELFB	Bel Fuse Inc. - Class B Common Stock	67,634	$11	7.0%	$25.83	+504.7%	CL B	077347300
GRMN	Garmin Ltd. - Common Stock	40,755	$8	5.0%	$55.41	+291.1%	COM	H2906T109
—	Grayscale Bitcoin Trust ETF	64,932	$4	2.7%	$0.07	—	ETP	389930109
BELFA	Bel Fuse Inc. - Class A Common Stock	23,434	$4	2.2%	$23.04	+482.1%	CL A	077347201
BR	Broadridge Financial Solutions, Inc. - Common Stock	40,793	$9	5.5%	$76.08	+198.8%	COM	11133T103
MA	Mastercard Incorporated - Common Stock	102,170	$58	35.4%	$142.19	+293.1%	COM	57636Q104
—	Grayscale Bitcoin Minitrust ETF	12,986	$1	0.3%	$0.04	—	ETP	389930108
MCB	Metropolitan Bank Holding Corp. - Common Stock	7,811	$1	0.4%	$43.58	+69.5%	COM	591774104
BRK/A	Berkshire Hathaway Inc. Common Stock	4	$3	1.8%	$284799.47	+162.1%	CL A	084670108