TXO Partners, L.P. — Director's Dealing 2025

Feb 4, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TXO Partners, L.P. (TXO)
CIK: 0001559432
Period of Report: 2025-01-31

Reporting Person: King Luther Jr (Director, 10% Owner, See below)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-01-31	Common Units	A	3900	—	Acquired	747344	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Units	2561530	Indirect

Footnotes

F1: Reflects phantom units. Each phantom unit is the economic equivalent of one common unit of the Issuer and will be settled in common units upon vesting. The phantom units will vest on January 31, 2026.

F2: LKCM Investment Partnership GP, LLC (LIP GP) is the general partner of LKCM Investment Partnership, L.P. (LIP). LKCM Private Discipline Management, L.P. (PDP GP) is the sole holder of management shares of LKCM Private Discipline Master Fund, SPC (PDP), which holds all of the ownership interests in PDLP Morningstar, LLC (PDLP). Luther King Capital Management (LKCM) serves as the investment adviser to each of LIP and PDP. Mr. King is the President and controlling shareholder of LKCM and a controlling member and/or partner of each of LIP GP and PDP GP. Mr. King expressly disclaims beneficial ownership of the Common Units reported herein except to the extent of his pecuniary interest therein.

F3: Represents (i) 1,189,400 Common Units held by LIP and (ii) 1,372,130 Common Units held by PDLP. The Common Units held by LIP and PDLP were received on August 1, 2023 in a pro rata distribution from MorningStar Partners II, L.P. to all of its partners for no consideration.