[Form 4] Texas Pacific Land Corp Insider Trading Activity
Horizon Kinetics Asset Management LLC filed a Form 4 showing a reported purchase on 10/02/2025 of 1 share of Texas Pacific Land Corp (TPL) at a reported price of $967.13. The filing reports 1,162,535 shares beneficially owned following the transaction, held in a direct capacity. The explanatory note references an earlier Schedule 13D amendment (filed 12/18/2024) disclosing beneficial ownership of 3,578,173 shares and that Murray Stahl has a direct interest of 7,848 shares and an indirect interest of ~156,083 shares. The filing states that the extent of HKAM’s pecuniary interest is disclosed and that Mr. Stahl does not exercise investment discretion over the issuer’s securities.
Horizon Kinetics Asset Management LLC ha presentato un Modulo 4 che riporta un acquisto registrato il 02/10/2025 di 1 azione di Texas Pacific Land Corp (TPL) a un prezzo riportato di $967.13. Il filing riporta 1,162,535 azioni detenute direttamente dopo la transazione, in una capacità diretta. La nota esplicativa fa riferimento a una precedente modifica del Schedule 13D (presentata il 18/12/2024) che rivela la proprietà beneficiaria di 3,578,173 azioni e che Murray Stahl possiede una partecipazione diretta di 7,848 azioni e una partecipazione indiretta di circa 156,083 azioni. La nota indica che l’estensione dell’interesse pecuniario di HKAM è stata divulgata e che il signor Stahl non esercita discrezione di investimento sui titoli dell’emittente.
Horizon Kinetics Asset Management LLC presentó un Formulario 4 que muestra una compra reportada el 02/10/2025 de 1 acción de Texas Pacific Land Corp (TPL) a un precio reportado de $967.13. La presentación reporta 1,162,535 acciones beneficiosamente poseídas tras la transacción, mantenidas en una capacidad directa. La nota explicativa hace referencia a una enmienda anterior del Schedule 13D (presentada el 18/12/2024) que revela la propiedad beneficiaria de 3,578,173 acciones y que Murray Stahl tiene una participación directa de 7,848 acciones y una participación indirecta de aproximadamente 156,083 acciones. La presentación indica que se revela el alcance del interés pecuniario de HKAM y que el Sr. Stahl no ejerce discreción de inversión sobre los valores del emisor.
Horizon Kinetics Asset Management LLC가 Form 4를 제출하여 2025-10-02에 Texas Pacific Land Corp (TPL)의 1주를 $967.13의 보고가로 매입했다고 보고했습니다. 거래 후 직접 보유한 주식 수는 1,162,535주이며 직접 보유 형식으로 보유됩니다. 설명 메모는 이전의 Schedule 13D 수정안(2024-12-18에 제출)에서 3,578,173주를 보유하고 있으며 Murray Stahl이 직접 보유 7,848주와 약 156,083주의 간접 보유를 가지고 있음을 공개합니다. 제출서는 HKAM의 재정적 이해관계의 범위가 공개되었으며 Stahl 씨가 발행자의 증권에 대해 투자 재량권을 행사하지 않는다고 명시합니다.
Horizon Kinetics Asset Management LLC a déposé un Formulaire 4 indiquant un achat déclaré le 02/10/2025 d’un action de Texas Pacific Land Corp (TPL) au prix déclaré de $967,13. Le dépôt indique 1 162 535 actions détenues de manière bénéficiaire après la transaction, dans une capacité directe. La note explicative fait référence à un amendement antérieur du Schedule 13D (déposé le 18/12/2024) révélant une propriété bénéficiaire de 3 578 173 actions et que Murray Stahl détient une participation directe de 7 848 actions et une participation indirecte d’environ 156 083 actions. Le dépôt indique que l’étendue de l’intérêt pécuniaire de HKAM est divulguée et que M. Stahl n’exerce pas de discrétion d’investissement sur les titres de l’émetteur.
Horizon Kinetics Asset Management LLC hat ein Formular 4 eingereicht, das einen gemeldeten Kauf am 02.10.2025 von 1 Aktie von Texas Pacific Land Corp (TPL) zu einem gemeldeten Preis von $967.13 zeigt. Die Einreichung meldet 1,162,535 Aktien, die nach der Transaktion im direkten Besitz gehalten werden. Die erläuternde Bemerkung verweist auf eine frühere Schedule-13D-Änderung (eingereicht am 18.12.2024), die den beherrschenden Besitz von 3,578,173 Aktien offenbart, und dass Murray Stahl eine direkte Beteiligung von 7,848 Aktien und eine indirekte Beteiligung von ca. 156,083 Aktien hat. Die Einreichung gibt an, dass der Umfang des finanziellen Interesses von HKAM offengelegt ist und dass Herr Stahl kein Investitionsdispositionsrecht über die Wertpapiere des Emittenten ausübt.
Horizon Kinetics Asset Management LLC قدمت نموذج 4 يُظهر شراءًا مُبلغًا عنه في 02/10/2025 لـ 1 سهم من Texas Pacific Land Corp (TPL) بسعر مُبلغ عنه قدره $967.13. يُخبر التقديم بأن هناك 1,162,535 سهمًا مملوكًا فعليًا بعد المعاملة في صيغة مباشرة. تشير المذكرة التفسيرية إلى تعديل سابق لجدول 13D (تم تقديمه في 18/12/2024) يكشف عن ملكية مستفيدة لـ 3,578,173 سهمًا وأن موري ستاهل لديه حصة مباشرة من 7,848 سهم وحصة غير مباشرة تقارب 156,083 سهمًا. يذكر التقديم أن مدى الفائدة المالية لـ HKAM قد تم الكشف عنه وأن السيد ستاهل لا يمارس الاختيار الاستثماري في أوراق الشركة المقيمة.
Horizon Kinetics Asset Management LLC 提交了一个 Form 4，显示在 2025/10/02 报告的对 Texas Pacific Land Corp (TPL) 的 1 股购买，报告价格为 $967.13。该备案在交易后报告持有的有益权益为 1,162,535 股，直系持有。说明性说明提及早先的 Schedule 13D 修正案（提交时间为 2024/12/18），披露拥有 3,578,173 股的有益所有权，以及 Murray Stahl 直接持有 7,848 股，间接持有约 156,083 股。备案表示 HKAM 的金钱利益范围已被披露，Stahl 先生对发行人的证券不行使投资裁量权。
- Reported direct beneficial ownership of 1,162,535 shares following the transaction
- Explanatory note references a 12/18/2024 Schedule 13D disclosing 3,578,173 shares, improving transparency on total holdings
- Statement that Mr. Murray Stahl does not exercise investment discretion, clarifying internal roles
- Transaction involved only 1 share purchased, which is immaterial in size relative to disclosed holdings
- Form 4 does not reconcile the difference between the 1,162,535 shares reported here and the 3,578,173 Schedule 13D total within this filing
Insights
Form shows HKAM maintains a sizable disclosed stake and reports a token purchase.
The Form 4 documents a 1-share purchase at $967.13 and reports 1,162,535 shares held directly after the trade, confirming substantial recorded ownership stake by the reporting entity.
The explanatory reference to the 12/18/2024 Schedule 13D indicates additional disclosed beneficial ownership totaling 3,578,173 shares and separates Murray Stahl’s 7,848 direct and ~156,083 indirect interests, clarifying beneficial vs. discretionary roles.
Filing meets Section 16 disclosure requirements and clarifies investment discretion.
The Form 4 itemizes a purchase on 10/02/2025 and includes a signature by an attorney‑in‑fact, satisfying signature and reporting format norms for Section 16 reporting.
The explanatory note explicitly states that Mr. Stahl "does not exercise investment discretion," which is relevant to beneficial-ownership attribution and fiduciary/insider-role disclosure under SEC rules.
Horizon Kinetics Asset Management LLC ha presentato un Modulo 4 che riporta un acquisto registrato il 02/10/2025 di 1 azione di Texas Pacific Land Corp (TPL) a un prezzo riportato di $967.13. Il filing riporta 1,162,535 azioni detenute direttamente dopo la transazione, in una capacità diretta. La nota esplicativa fa riferimento a una precedente modifica del Schedule 13D (presentata il 18/12/2024) che rivela la proprietà beneficiaria di 3,578,173 azioni e che Murray Stahl possiede una partecipazione diretta di 7,848 azioni e una partecipazione indiretta di circa 156,083 azioni. La nota indica che l’estensione dell’interesse pecuniario di HKAM è stata divulgata e che il signor Stahl non esercita discrezione di investimento sui titoli dell’emittente.
Horizon Kinetics Asset Management LLC presentó un Formulario 4 que muestra una compra reportada el 02/10/2025 de 1 acción de Texas Pacific Land Corp (TPL) a un precio reportado de $967.13. La presentación reporta 1,162,535 acciones beneficiosamente poseídas tras la transacción, mantenidas en una capacidad directa. La nota explicativa hace referencia a una enmienda anterior del Schedule 13D (presentada el 18/12/2024) que revela la propiedad beneficiaria de 3,578,173 acciones y que Murray Stahl tiene una participación directa de 7,848 acciones y una participación indirecta de aproximadamente 156,083 acciones. La presentación indica que se revela el alcance del interés pecuniario de HKAM y que el Sr. Stahl no ejerce discreción de inversión sobre los valores del emisor.
Horizon Kinetics Asset Management LLC가 Form 4를 제출하여 2025-10-02에 Texas Pacific Land Corp (TPL)의 1주를 $967.13의 보고가로 매입했다고 보고했습니다. 거래 후 직접 보유한 주식 수는 1,162,535주이며 직접 보유 형식으로 보유됩니다. 설명 메모는 이전의 Schedule 13D 수정안(2024-12-18에 제출)에서 3,578,173주를 보유하고 있으며 Murray Stahl이 직접 보유 7,848주와 약 156,083주의 간접 보유를 가지고 있음을 공개합니다. 제출서는 HKAM의 재정적 이해관계의 범위가 공개되었으며 Stahl 씨가 발행자의 증권에 대해 투자 재량권을 행사하지 않는다고 명시합니다.
Horizon Kinetics Asset Management LLC a déposé un Formulaire 4 indiquant un achat déclaré le 02/10/2025 d’un action de Texas Pacific Land Corp (TPL) au prix déclaré de $967,13. Le dépôt indique 1 162 535 actions détenues de manière bénéficiaire après la transaction, dans une capacité directe. La note explicative fait référence à un amendement antérieur du Schedule 13D (déposé le 18/12/2024) révélant une propriété bénéficiaire de 3 578 173 actions et que Murray Stahl détient une participation directe de 7 848 actions et une participation indirecte d’environ 156 083 actions. Le dépôt indique que l’étendue de l’intérêt pécuniaire de HKAM est divulguée et que M. Stahl n’exerce pas de discrétion d’investissement sur les titres de l’émetteur.
Horizon Kinetics Asset Management LLC hat ein Formular 4 eingereicht, das einen gemeldeten Kauf am 02.10.2025 von 1 Aktie von Texas Pacific Land Corp (TPL) zu einem gemeldeten Preis von $967.13 zeigt. Die Einreichung meldet 1,162,535 Aktien, die nach der Transaktion im direkten Besitz gehalten werden. Die erläuternde Bemerkung verweist auf eine frühere Schedule-13D-Änderung (eingereicht am 18.12.2024), die den beherrschenden Besitz von 3,578,173 Aktien offenbart, und dass Murray Stahl eine direkte Beteiligung von 7,848 Aktien und eine indirekte Beteiligung von ca. 156,083 Aktien hat. Die Einreichung gibt an, dass der Umfang des finanziellen Interesses von HKAM offengelegt ist und dass Herr Stahl kein Investitionsdispositionsrecht über die Wertpapiere des Emittenten ausübt.
FAQ
What did Horizon Kinetics report on the Form 4 for TPL?
Does the filing disclose other holdings or a Schedule 13D?
What interest does Murray Stahl have according to the filing?
Does Murray Stahl control investment decisions for TPL shares held by HKAM?
Who signed the Form 4 and when?
