Form 4: Murray Stahl of Horizon Kinetics Reports Texas Pacific Land Corp Stock Transactions

Murray Stahl, associated with Horizon Kinetics, reports multiple transactions involving Texas Pacific Land Corp stock, including purchases made under a Rule 10b5-1 plan.

Summary

• Murray Stahl, affiliated with Horizon Kinetics, reported changes in beneficial ownership of Texas Pacific Land Corp [TPL] stock on May 13, 2025.
• The transactions involved purchases of common stock at a price of $1,347.71 and $1,362.15.
• These purchases were made through various entities including Horizon Kinetics Hard Assets, HORIZON CREDIT OPPORTUNITY FUND LP, HORIZON COMMON INC, and POLESTAR OFFSHORE FUND LTD.
• The transactions were executed under a Rule 10b5-1 plan adopted on November 21, 2024.
• Stahl's reported beneficial ownership includes direct and indirect holdings through various entities, with a total of 325,757 shares held by Horizon Kinetics Hard Assets.
• Horizon Kinetics Asset Management LLC (HKAM) reported beneficial ownership of 3,578,173 shares as of December 18, 2024.
• Stahl disclaims beneficial ownership over shares managed by HKAM, except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document primarily reports transactions, and the purchases suggest a degree of confidence, but it's part of a pre-planned strategy.

Positives

• The purchases indicate confidence in Texas Pacific Land Corp's future prospects from a significant shareholder.

Future Outlook

The document does not contain specific forward-looking statements about Texas Pacific Land Corp's future performance.

Management Comments

• Mr. Stahl disclaims beneficial ownership over the shares reported except to the extent of his pecuniary interest, if any.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the trading activities of company insiders, allowing investors to track significant ownership changes.

Stakeholder Impact

• The reported transactions provide shareholders with insights into the investment activities of a significant shareholder.

Key Dates

Keywords

Texas Pacific Land Corp, TPL, Murray Stahl, Horizon Kinetics, Beneficial Ownership, Form 4, Rule 10b5-1, Stock Transactions