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 May 31, 2024, Horizon Kinetics Asset Management LLC acquired 3 shares of Texas Pacific Land Corp common stock at a price of $616.93 per share.
• Following this transaction, Horizon Kinetics Asset Management LLC's direct ownership in Texas Pacific Land Corp amounts to 1,085,031 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 reflects a routine transaction with no explicit positive or negative implications. The increased stake could be seen as a slightly positive signal, but it's a small transaction.

Positives

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

Management Comments

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

Industry Context

Texas Pacific Land Corp is in the land resource management industry, and significant ownership changes are relevant to investors monitoring the stock's performance and stability.

Comparison to Industry Standards

• Comparing Horizon Kinetics' holdings to other major shareholders in similar land resource companies could provide insights into market sentiment.
• Analyzing the trading activity of other large shareholders in Texas Pacific Land Corp can offer a benchmark for evaluating Horizon Kinetics' investment strategy.

Stakeholder Impact

• The increased stake may reassure shareholders about the confidence of a major investor in the company.

Key Dates