Form 4: Horizon Kinetics Asset Management LLC Increases Stake in Texas Pacific Land Corp

Horizon Kinetics Asset Management LLC reports purchasing additional shares of Texas Pacific Land Corp, increasing its beneficial ownership.

Summary

• On July 29, 2024, Horizon Kinetics Asset Management LLC acquired 3 shares of Texas Pacific Land Corp common stock at a price of $818.05 per share.
• Following this transaction, Horizon Kinetics Asset Management LLC beneficially owns 1,085,086 shares of Texas Pacific Land Corp.
• The reporting person, Horizon Kinetics Asset Management LLC, is a 10% owner of Texas Pacific Land Corp.
• Murray Stahl's direct interest is in 2,474 shares and his indirect interest is in approximately 53,550 shares.
• Mr. Stahl does not exercise investment discretion with respect to the securities of the issuer.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction report, indicating continued investment but not necessarily a strong positive or negative outlook.

Positives

• Increased investment by a major shareholder could be seen as a positive signal for the company.

Management Comments

• Murray Stahl does not exercise investment discretion with respect to the securities of the issuer.

Industry Context

This filing indicates continued investment interest in Texas Pacific Land Corp, which operates in the land and resource management sector. Monitoring similar filings from other major shareholders can provide insights into overall investor sentiment.

Comparison to Industry Standards

• It is difficult to compare this specific transaction to industry standards without knowing the broader investment strategy of Horizon Kinetics.
• However, monitoring the ownership changes of major shareholders is a common practice in assessing the health and prospects of publicly traded companies.
• Comparing the trading activity of TPL to other land and resource management companies like Vistra Corp or Antero Resources can provide a broader context.

Stakeholder Impact

• The increased stake by Horizon Kinetics Asset Management LLC could positively influence shareholder confidence.

Key Dates