[Form 4] Texas Pacific Land Corporation Insider Trading Activity
Horizon Kinetics Asset Management LLC reported a change in beneficial ownership of Texas Pacific Land Corporation (TPL) on a Form 4. The filing records a transaction dated 08/13/2025 with transaction code P and a listed price of $854.06. The filing references an amended Schedule 13D disclosing Horizon Kinetics's beneficial ownership of 3,578,173 shares and states Murray Stahl's direct interest of 7,848 shares and indirect interest of approximately 156,083 shares.
The form also shows 1,163,974 shares reported as beneficially owned following the transaction (as stated in the table). The filing notes that Mr. Stahl does not exercise investment discretion over the issuer's securities and that the Form was filed by a single reporting person.
Horizon Kinetics Asset Management LLC ha segnalato una variazione nella titolarit脿 beneficiaria di Texas Pacific Land Corporation (TPL) tramite un Form 4. La registrazione riporta una transazione datata 08/13/2025 con codice di transazione P e prezzo indicato di $854.06. Il deposito fa riferimento a uno Schedule 13D emendato che dichiara la propriet脿 beneficiaria di Horizon Kinetics pari a 3,578,173 azioni e indica l'interesse diretto di Murray Stahl di 7,848 azioni e un interesse indiretto di circa 156,083 azioni.
Il modulo mostra inoltre 1,163,974 azioni riportate come possedute a fini benefici dopo la transazione (come indicato nella tabella). Nel deposito si specifica che il sig. Stahl non esercita discrezionalit脿 d'investimento sui titoli dell'emittente e che il Form 猫 stato presentato da una sola persona segnalante.
Horizon Kinetics Asset Management LLC inform贸 un cambio en la titularidad beneficiaria de Texas Pacific Land Corporation (TPL) mediante un Formulario 4. El registro documenta una operaci贸n fechada el 08/13/2025 con c贸digo de transacci贸n P y precio indicado de $854.06. El expediente hace referencia a un Schedule 13D enmendado que revela la propiedad beneficiaria de Horizon Kinetics de 3,578,173 acciones y se帽ala el inter茅s directo de Murray Stahl de 7,848 acciones y un inter茅s indirecto de aproximadamente 156,083 acciones.
El formulario tambi茅n muestra 1,163,974 acciones declaradas como propiedad beneficiaria tras la operaci贸n (seg煤n la tabla). El informe aclara que el Sr. Stahl no ejerce discreci贸n de inversi贸n sobre los valores del emisor y que el Form fue presentado por una sola persona informante.
Horizon Kinetics Asset Management LLC電� Form 4鞐愳劀 Texas Pacific Land Corporation (TPL)鞚� 鞁れ 靻岇湢甓� 氤�霃欖潉 氤搓碃頄堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 08/13/2025鞛� 瓯半灅臧� 瓯半灅 旖旊摐 P搿�, 旮办灛 臧�瓴╈潃 $854.06搿� 旮半霅橃柎 鞛堨姷雼堧嫟. 頃措嫻 鞝滌稖靹滊姅 Horizon Kinetics鞚� 鞁れ 靻岇湢欤� 靾橂焿 3,578,173欤茧ゼ 瓿店皽頃� 靾橃爼霅� Schedule 13D毳� 彀胳“頃橂┌, Murray Stahl鞚� 歆侅爲 氤挫湢攵� 7,848欤� 氚� 鞎� 156,083欤检潣 臧勳爲 氤挫湢攵勳潉 氇呾嫓頃╇媹雼�.
鞏戩嫕鞐愲姅 霕愴暅 瓯半灅 頉� 鞁れ 氤挫湢搿� 氤搓碃霅� 1,163,974欤缄皜 響滌棎 霐半澕 旮办灛霅橃柎 鞛堨姷雼堧嫟. 鞝滌稖靹滌棎電� Stahl 鞌皜 氚滍枆靷潣 歃濌秾鞐� 雽�頃� 韴瀽 鞛焿鞚� 頄夓偓頃橃 鞎婌溂氅� 頃措嫻 Form鞚� 雼澕 鞁犼碃鞚胳棎 鞚橅暣 鞝滌稖霅橃棃鞚岇澊 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
Horizon Kinetics Asset Management LLC a d茅clar茅 un changement de propri茅t茅 b茅n茅ficiaire de Texas Pacific Land Corporation (TPL) sur un Formulaire 4. Le d茅p么t enregistre une transaction dat茅e du 08/13/2025 avec le code de transaction P et un prix indiqu茅 de $854.06. Le document renvoie 脿 un Schedule 13D amend茅 divulguant la participation b茅n茅ficiaire de Horizon Kinetics de 3,578,173 actions et pr茅cise l'int茅r锚t direct de Murray Stahl de 7,848 actions ainsi qu'un int茅r锚t indirect d'environ 156,083 actions.
Le formulaire indique 茅galement 1,163,974 actions d茅clar茅es comme d茅tenues 脿 titre b茅n茅ficiaire apr猫s la transaction (comme indiqu茅 dans le tableau). Le d茅p么t pr茅cise que M. Stahl n'exerce pas de pouvoir discr茅tionnaire d'investissement sur les titres de l'茅metteur et que le formulaire a 茅t茅 d茅pos茅 par une seule personne d茅clarante.
Horizon Kinetics Asset Management LLC meldete in einem Form 4 eine 脛nderung des wirtschaftlichen Eigentums an der Texas Pacific Land Corporation (TPL). Die Einreichung verzeichnet eine Transaktion datiert auf 08/13/2025 mit Transaktionscode P und einem angegebenen Preis von $854.06. Die Einreichung verweist auf ein ge盲ndertes Schedule 13D, das das wirtschaftliche Eigentum von Horizon Kinetics in H枚he von 3,578,173 Aktien offenlegt und Murray Stahl ein direktes Interesse von 7,848 Aktien sowie ein indirektes Interesse von rund 156,083 Aktien zuordnet.
Das Formular weist ferner 1,163,974 Aktien aus, die nach der Transaktion als wirtschaftlich gehalten gemeldet wurden (wie in der Tabelle angegeben). In der Einreichung wird darauf hingewiesen, dass Herr Stahl keine Anlageentscheidung 眉ber die Wertpapiere des Emittenten trifft und dass das Formular von einer einzelnen meldenden Person eingereicht wurde.
- Disclosure of substantial holdings: Horizon Kinetics' beneficial ownership of 3,578,173 TPL shares is clearly disclosed, improving transparency for investors.
- Clear statement on discretion: The filing explicitly states that Murray Stahl does not exercise investment discretion over the issuer's securities.
- None.
Insights
TL;DR: Form 4 discloses Horizon Kinetics's sizable TPL stake and a transaction (code P) with no further transactional detail; impact appears neutral.
The filing provides explicit ownership figures that matter to investors: a Schedule 13D amendment lists Horizon Kinetics' beneficial ownership at 3,578,173 shares, while the Form 4's table lists 1,163,974 shares following the reported transaction and a transaction price of $854.06 dated 08/13/2025. Murray Stahl's direct and indirect holdings are clearly stated as 7,848 and ~156,083 shares respectively, and the filing specifies that Mr. Stahl does not exercise investment discretion. Without additional context on the transaction type or intent, this disclosure is primarily informative rather than transformational for valuation.
TL;DR: The filing improves transparency on insider and advisory ownership but does not indicate governance control changes.
The document clarifies beneficial ownership positions and attributes pecuniary interest to Horizon Kinetics. Key figures are the Schedule 13D disclosure of 3,578,173 shares and Murray Stahl's stated direct and indirect interests (7,848 and ~156,083). The Form also records a reported post-transaction holding of 1,163,974 shares. The filing explicitly states Mr. Stahl does not exercise investment discretion, which is relevant to assessing who controls voting or investment decisions. There is no explicit indication of any change in control or governance that would materially alter shareholder rights based on the information provided.
Horizon Kinetics Asset Management LLC ha segnalato una variazione nella titolarit脿 beneficiaria di Texas Pacific Land Corporation (TPL) tramite un Form 4. La registrazione riporta una transazione datata 08/13/2025 con codice di transazione P e prezzo indicato di $854.06. Il deposito fa riferimento a uno Schedule 13D emendato che dichiara la propriet脿 beneficiaria di Horizon Kinetics pari a 3,578,173 azioni e indica l'interesse diretto di Murray Stahl di 7,848 azioni e un interesse indiretto di circa 156,083 azioni.
Il modulo mostra inoltre 1,163,974 azioni riportate come possedute a fini benefici dopo la transazione (come indicato nella tabella). Nel deposito si specifica che il sig. Stahl non esercita discrezionalit脿 d'investimento sui titoli dell'emittente e che il Form 猫 stato presentato da una sola persona segnalante.
Horizon Kinetics Asset Management LLC inform贸 un cambio en la titularidad beneficiaria de Texas Pacific Land Corporation (TPL) mediante un Formulario 4. El registro documenta una operaci贸n fechada el 08/13/2025 con c贸digo de transacci贸n P y precio indicado de $854.06. El expediente hace referencia a un Schedule 13D enmendado que revela la propiedad beneficiaria de Horizon Kinetics de 3,578,173 acciones y se帽ala el inter茅s directo de Murray Stahl de 7,848 acciones y un inter茅s indirecto de aproximadamente 156,083 acciones.
El formulario tambi茅n muestra 1,163,974 acciones declaradas como propiedad beneficiaria tras la operaci贸n (seg煤n la tabla). El informe aclara que el Sr. Stahl no ejerce discreci贸n de inversi贸n sobre los valores del emisor y que el Form fue presentado por una sola persona informante.
Horizon Kinetics Asset Management LLC電� Form 4鞐愳劀 Texas Pacific Land Corporation (TPL)鞚� 鞁れ 靻岇湢甓� 氤�霃欖潉 氤搓碃頄堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 08/13/2025鞛� 瓯半灅臧� 瓯半灅 旖旊摐 P搿�, 旮办灛 臧�瓴╈潃 $854.06搿� 旮半霅橃柎 鞛堨姷雼堧嫟. 頃措嫻 鞝滌稖靹滊姅 Horizon Kinetics鞚� 鞁れ 靻岇湢欤� 靾橂焿 3,578,173欤茧ゼ 瓿店皽頃� 靾橃爼霅� Schedule 13D毳� 彀胳“頃橂┌, Murray Stahl鞚� 歆侅爲 氤挫湢攵� 7,848欤� 氚� 鞎� 156,083欤检潣 臧勳爲 氤挫湢攵勳潉 氇呾嫓頃╇媹雼�.
鞏戩嫕鞐愲姅 霕愴暅 瓯半灅 頉� 鞁れ 氤挫湢搿� 氤搓碃霅� 1,163,974欤缄皜 響滌棎 霐半澕 旮办灛霅橃柎 鞛堨姷雼堧嫟. 鞝滌稖靹滌棎電� Stahl 鞌皜 氚滍枆靷潣 歃濌秾鞐� 雽�頃� 韴瀽 鞛焿鞚� 頄夓偓頃橃 鞎婌溂氅� 頃措嫻 Form鞚� 雼澕 鞁犼碃鞚胳棎 鞚橅暣 鞝滌稖霅橃棃鞚岇澊 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
Horizon Kinetics Asset Management LLC a d茅clar茅 un changement de propri茅t茅 b茅n茅ficiaire de Texas Pacific Land Corporation (TPL) sur un Formulaire 4. Le d茅p么t enregistre une transaction dat茅e du 08/13/2025 avec le code de transaction P et un prix indiqu茅 de $854.06. Le document renvoie 脿 un Schedule 13D amend茅 divulguant la participation b茅n茅ficiaire de Horizon Kinetics de 3,578,173 actions et pr茅cise l'int茅r锚t direct de Murray Stahl de 7,848 actions ainsi qu'un int茅r锚t indirect d'environ 156,083 actions.
Le formulaire indique 茅galement 1,163,974 actions d茅clar茅es comme d茅tenues 脿 titre b茅n茅ficiaire apr猫s la transaction (comme indiqu茅 dans le tableau). Le d茅p么t pr茅cise que M. Stahl n'exerce pas de pouvoir discr茅tionnaire d'investissement sur les titres de l'茅metteur et que le formulaire a 茅t茅 d茅pos茅 par une seule personne d茅clarante.
Horizon Kinetics Asset Management LLC meldete in einem Form 4 eine 脛nderung des wirtschaftlichen Eigentums an der Texas Pacific Land Corporation (TPL). Die Einreichung verzeichnet eine Transaktion datiert auf 08/13/2025 mit Transaktionscode P und einem angegebenen Preis von $854.06. Die Einreichung verweist auf ein ge盲ndertes Schedule 13D, das das wirtschaftliche Eigentum von Horizon Kinetics in H枚he von 3,578,173 Aktien offenlegt und Murray Stahl ein direktes Interesse von 7,848 Aktien sowie ein indirektes Interesse von rund 156,083 Aktien zuordnet.
Das Formular weist ferner 1,163,974 Aktien aus, die nach der Transaktion als wirtschaftlich gehalten gemeldet wurden (wie in der Tabelle angegeben). In der Einreichung wird darauf hingewiesen, dass Herr Stahl keine Anlageentscheidung 眉ber die Wertpapiere des Emittenten trifft und dass das Formular von einer einzelnen meldenden Person eingereicht wurde.
FAQ
What did Horizon Kinetics report on the Form 4 for TPL?
How many TPL shares does Horizon Kinetics beneficially own?
What are Murray Stahl's reported holdings in TPL?
Does Murray Stahl control investment decisions for the reported TPL securities?
Was this Form 4 filed by one reporting person or multiple?
