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

Horizon Kinetics Asset Management LLC reports the acquisition of 3 shares of Texas Pacific Land Corp common stock at $582.6 per share on April 19, 2024.

Summary

• On April 19, 2024, Horizon Kinetics Asset Management LLC acquired 3 shares of Texas Pacific Land Corp common stock.
• The price per share was $582.6.
• Following the transaction, Horizon Kinetics Asset Management LLC beneficially owns 1,084,944 shares.
• 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.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it is a standard regulatory filing reporting a small transaction. It doesn't inherently indicate positive or negative sentiment towards the company.

Positives

• The acquisition of additional shares may indicate confidence in the future performance of Texas Pacific Land Corp.

Management Comments

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

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders and significant shareholders, providing transparency to the market.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for individuals or entities considered insiders, such as officers, directors, and 10% owners, to report transactions in their company's stock.
• These filings are publicly available and allow investors to track insider activity, which can provide insights into management's perspective on the company's prospects.
• Similar filings are made by major shareholders in companies like Berkshire Hathaway (Warren Buffett), Pershing Square Capital Management (Bill Ackman), and Icahn Enterprises (Carl Icahn) to disclose their positions and transactions.

Stakeholder Impact

• The transaction may have a minor impact on shareholders as it reflects a change in ownership by a significant shareholder.

Key Dates