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 April 30, 2024, Horizon Kinetics Asset Management LLC acquired 3 shares of Texas Pacific Land Corp (TPL) at a price of $576.3 per share.
• Following this transaction, Horizon Kinetics Asset Management LLC directly owns 1,084,965 shares of TPL.
• The filing indicates that 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.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The purchase of additional shares by a major shareholder is generally a positive sign, indicating confidence in the company's future prospects. However, the transaction is small, so the impact is limited.

Positives

• Increased investment by a major shareholder like Horizon Kinetics Asset Management LLC can be seen as a positive signal.

Management Comments

• Murray 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 increased confidence by a major shareholder in Texas Pacific Land Corp.

Comparison to Industry Standards

• Comparing Horizon Kinetics' investment strategy and holdings to other major landholders or royalty companies in the oil and gas sector could provide further context.
• Analyzing the performance of TPL against its peers in the land and resource management industry would be relevant.

Stakeholder Impact

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

Key Dates