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 June 4, 2024, Horizon Kinetics Asset Management LLC (HKAM) acquired 3 shares of Texas Pacific Land Corp (TPL) at a price of $585.56 per share.
• Following this transaction, HKAM's direct beneficial ownership in TPL amounts to 1,085,037 shares.
• Murray Stahl's direct interest is 2,474 shares and his indirect interest is 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 disclosure of a share purchase. The increase in stake could be interpreted slightly positively, but it's a small transaction.

Positives

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

Management Comments

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

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or major shareholders of a publicly traded company buy or sell shares. This filing indicates a change in ownership by a significant shareholder, Horizon Kinetics Asset Management LLC.

Comparison to Industry Standards

• Form 4 filings are a standard part of regulatory compliance for publicly traded companies and their major shareholders.
• Similar filings are made by insiders of companies like Berkshire Hathaway, BlackRock, and Vanguard when they adjust their holdings.

Stakeholder Impact

• The increased stake by Horizon Kinetics Asset Management LLC could provide a slight boost to investor confidence.

Key Dates