Form 4: Horizon Kinetics Asset Management LLC Reports Transaction in Texas Pacific Land Corp (TPL)

Horizon Kinetics Asset Management LLC, a 10% owner of Texas Pacific Land Corp, reports purchasing 3 shares of common stock at $598.4 on June 3, 2024, resulting in a total beneficial ownership of 1,085,034 shares.

Summary

• On June 3, 2024, Horizon Kinetics Asset Management LLC (HKAM) purchased 3 shares of Texas Pacific Land Corp (TPL) common stock.
• The purchase price was $598.4 per share.
• Following the transaction, HKAM beneficially owns 1,085,034 shares of TPL.
• Murray Stahl has a direct interest in 2,474 shares and an indirect interest in approximately 53,550 shares.
• Mr. Stahl does not exercise investment discretion with respect to the securities of the issuer.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a small transaction. It doesn't inherently convey positive or negative sentiment.

Management Comments

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

Industry Context

This Form 4 filing indicates a change in beneficial ownership by a major shareholder, Horizon Kinetics Asset Management LLC, in Texas Pacific Land Corp, a company primarily focused on land ownership and resource management. Such filings are common and provide transparency into the trading activities of insiders and significant shareholders.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders and large shareholders in publicly traded companies.
• The reported transaction is relatively small in volume (3 shares) compared to the total outstanding shares of Texas Pacific Land Corp.
• The filing provides transparency into the holdings of Horizon Kinetics Asset Management LLC, a significant shareholder, allowing investors to track their investment activity.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on stakeholders due to the small number of shares involved.

Key Dates