Form 4: Horizon Kinetics Asset Management Reports Minor Share Acquisition in Texas Pacific Land Corp

Horizon Kinetics Asset Management LLC, a 10% owner of Texas Pacific Land Corp, reported the acquisition of one common share at $1,042.95, increasing its direct beneficial ownership to 1,163,947 shares.

Summary

• Horizon Kinetics Asset Management LLC (HKAM), a 10% owner of Texas Pacific Land Corp (TPL), reported the acquisition of 1 common share of TPL.
• The transaction occurred on July 7, 2025, at a price of $1,042.95 per share.
• Following this transaction, HKAM directly beneficially owns 1,163,947 shares of TPL Common Stock.
• An amendment to HKAM's Schedule 13D filed on December 18, 2024, previously noted beneficial ownership of 3,578,173 shares.
• Murray Stahl, associated with HKAM, holds a direct interest in 7,848 shares and an indirect interest in approximately 156,083 shares, but does not exercise investment discretion over TPL's securities.

Sentiment

Score: 5

Explanation: The document is a factual report of an insider transaction, which is neutral in sentiment. The acquisition of a single share by a 10% owner is not indicative of strong positive or negative sentiment.

Positives

• A significant 10% owner, Horizon Kinetics Asset Management LLC, continues to hold and slightly increase its direct beneficial ownership in Texas Pacific Land Corp, indicating ongoing interest.

Management Comments

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

Industry Context

This Form 4 filing details a specific insider transaction and does not provide information relevant to broader industry trends or competitive landscape analysis.

Related Party Transactions

• Horizon Kinetics Asset Management LLC, a 10% owner, acquired 1 common share of Texas Pacific Land Corp.
• Murray Stahl, associated with Horizon Kinetics Asset Management LLC, holds direct and indirect interests in Texas Pacific Land Corp shares, though he does not exercise investment discretion over the Issuer's securities.

Stakeholder Impact

• Shareholders: The acquisition of a single share by a significant 10% owner might be interpreted as a minor signal of continued confidence, but has no material impact on share price or ownership structure.

Key Dates

Keywords

Texas Pacific Land Corp, TPL, Horizon Kinetics Asset Management, HKAM, SEC Form 4, insider transaction, beneficial ownership, stock acquisition