Form 4: Horizon Kinetics Asset Management LLC Reports Acquisition of Texas Pacific Land Corp Shares

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

Summary

• On May 1, 2024, Horizon Kinetics Asset Management LLC acquired 3 shares of Texas Pacific Land Corp common stock at a price of $558.69 per share.
• Following this transaction, Horizon Kinetics Asset Management LLC beneficially owns 1,084,968 shares of Texas Pacific Land Corp.
• 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 transaction disclosure, with no explicit positive or negative implications. The increased stake could be interpreted as a slightly positive signal.

Positives

• The increased stake by Horizon Kinetics could be seen as a positive signal for investor confidence in Texas Pacific Land Corp.

Management Comments

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

Industry Context

Texas Pacific Land Corp is a unique company due to its vast land holdings in the Permian Basin, making it a play on oil and gas development. Horizon Kinetics' continued investment suggests a bullish outlook on the company's prospects.

Comparison to Industry Standards

• Texas Pacific Land Corp's business model is unique, making direct comparisons challenging.
• However, its performance can be benchmarked against other royalty and land companies, as well as oil and gas producers operating in the Permian Basin.

Stakeholder Impact

• The increased stake by a major shareholder like Horizon Kinetics could positively influence investor sentiment.

Key Dates