Form 4: Horizon Kinetics Asset Management LLC Reports Share Purchase in Texas Pacific Land Corp
SEC Form 4 Filing
Horizon Kinetics Asset Management LLC reported the purchase of 3 shares of Texas Pacific Land Corp at $1,388.85 per share on November 18, 2024.
Summary
- Horizon Kinetics Asset Management LLC (HKAM) reported a purchase of 3 shares of Texas Pacific Land Corp (TPL) common stock on November 18, 2024.
- The purchase price was $1,388.85 per share.
- Following the transaction, HKAM's total beneficial ownership of TPL shares is 1,138,460.
- This filing also consolidates previous separate line items of shares controlled by Murray Stahl into the total shares managed by HKAM.
- Murray Stahl's 10b5-1 plan, which began trading on August 15, 2024, and ended on November 15, 2024, resulted in the inclusion of 493,653 shares into the total managed by HKAM.
Sentiment
Score: 6
Explanation: The document is a routine filing of a share purchase and consolidation of holdings, indicating a neutral sentiment. There is no indication of any significant positive or negative events.
Positives
- The purchase of additional shares indicates continued investment by Horizon Kinetics Asset Management LLC in Texas Pacific Land Corp.
Management Comments
- Murray Stahl does not exercise investment discretion with respect to the securities of the issuer.
Industry Context
This filing is a routine disclosure of share transactions by a major shareholder and is typical for companies with significant institutional ownership.
Comparison to Industry Standards
- Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders and major shareholders in publicly traded companies.
- The consolidation of shares under HKAM's management is not unusual and reflects the firm's role as a significant investment manager.
Stakeholder Impact
- The share purchase and consolidation of holdings may have a minor positive impact on shareholder confidence.
Key Dates
| Date | Description |
|---|---|
| 2024-02-28 | Horizon Kinetics Asset Management LLC filed an amendment to its Schedule 13D, noting beneficial ownership of 1,271,975 shares and Murray Stahl's direct and indirect interests. |
| 2024-05-14 | Murray Stahl's most recent 10b5-1 plan was adopted. |
| 2024-08-15 | Murray Stahl's 10b5-1 plan began trading. |
| 2024-11-15 | Murray Stahl's 10b5-1 plan ended trading. |
| 2024-11-18 | Horizon Kinetics Asset Management LLC purchased 3 shares of Texas Pacific Land Corp. |
| 2024-11-19 | The Form 4 was signed by Jay Kesslen, attorney-in-fact. |
Keywords
Texas Pacific Land Corp, Horizon Kinetics Asset Management LLC, TPL, share purchase, beneficial ownership, Form 4, 10b5-1 plan, Murray Stahl
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