[Form 4] Texas Pacific Land Corp Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Horizon Kinetics Asset Management LLC reported on Form 4 that it acquired 1,164,000 shares of Texas Pacific Land Corp (TPL) on 09/19/2025 under transaction code P at a reported price of $896.6. The filing also discloses that HKAM is a director and a 10% owner of the issuer. An explanatory note states HKAM previously reported beneficial ownership of 3,578,173 shares on its Schedule 13D and that Murray Stahl holds a direct interest of 7,848 shares and an indirect interest of approximately 156,083 shares. The filing clarifies 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 riferito nel modulo 4 di aver acquisito 1.164.000 azioni di Texas Pacific Land Corp (TPL) il 19/09/2025, con codice di transazione P, a un prezzo riportato di 896,6 dollari. La documentazione indica inoltre che HKAM è direttore e proprietario del 10% dell’emittente. Una nota esplicativa specifica che HKAM aveva precedentemente riportato la proprietà beneficiaria di 3.578.173 azioni nel suo Schedule 13D e che Murray Stahl detiene un interesse diretto di 7.848 azioni e un interesse indiretto di circa 156.083 azioni. La dichiarazione chiarisce che l’estensione dell’interesse economico di HKAM è stata divulgata e che il sig. Stahl non esercita discrezione di investimento sui titoli dell’emittente.
Horizon Kinetics Asset Management LLC informó en el Formulario 4 haber adquirido 1.164.000 acciones de Texas Pacific Land Corp (TPL) el 19/09/2025, bajo el código de transacción P, a un precio reportado de 896,6 dólares. El registro también revela que HKAM es director y propietario del 10% de la entidad emisora. Una nota explicativa indica que HKAM ya había reportado previamente la titularidad de 3.578.173 acciones en su Schedule 13D y que Murray Stahl posee un interés directo de 7.848 acciones y un interés indirecto de aproximadamente 156.083 acciones. El registro aclara que se ha divulgado el alcance del interés pecuniario de HKAM y que el Sr. Stahl no ejerce discreción de inversión sobre las valores del emisor.
Horizon Kinetics Asset Management LLC는 Form 4에서 2025년 9월 19일 트랜잭션 코드 P에 따라 Texas Pacific Land Corp(TPL)의 1,164,000주를 매수했다고 보고했습니다. 보고가격은 896.6달러입니다. 이 서류는 또한 HKAM이 발행사의 이사이자 지분 10%의 소유주임을 밝힙니다. 해설 노트에 따르면 HKAM은 이전에 Schedule 13D에서 3,578,173주의 실질적 소유권을 보고했고, 머레이 스타르는 직접 보유 7,848주와 간접 보유 약 156,083주를 보유하고 있다고 합니다. 서류는 HKAM의 재무적 이해관계 범위가 공시되었으며 스타 씨가 발행인 증권에 대한 투자 재량권을 행사하지 않는다고 명시합니다.
Horizon Kinetics Asset Management LLC a déclaré dans le formulaire 4 avoir acquis 1 164 000 actions de Texas Pacific Land Corp (TPL) le 19/09/2025, sous le code de transaction P, à un prix déclaré de 896,6 dollars. Le dépôt indique également que HKAM est directeur et propriétaire à 10 % de l’émetteur. Une note explicative précise qu’HKAM avait précédemment déclaré une propriété bénéficiaire de 3 578 173 actions dans son Schedule 13D et que Murray Stahl détient un intérêt direct de 7 848 actions et un intérêt indirect d’environ 156 083 actions. Le dépôt précise que l’étendue de l’intérêt pécuniaire de HKAM est divulguée et que M. Stahl n’exerce pas de pouvoir discrétionnaire d’investissement sur les valeurs de l’émetteur.
Horizon Kinetics Asset Management LLC berichtete im Formular 4, dass es am 19.09.2025 1.164.000 Aktien von Texas Pacific Land Corp (TPL) unter dem Transaktionscode P zu einem gemeldeten Preis von 896,6 USD erworben hat. Die Einreichung weist auch darauf hin, dass HKAM Direktor und 10%-Eigentümer des Emittenten ist. Eine erläuternde Anmerkung besagt, dass HKAM zuvor die wirtschaftliche Eigentümerschaft von 3.578.173 Aktien in ihrem Schedule 13D gemeldet hat und dass Murray Stahl ein direktes Interesse von 7.848 Aktien und ein indirektes Interesse von ca. 156.083 Aktien hält. Die Einreichung stellt klar, dass der Umfang des wirtschaftlichen Interesses von HKAM offengelegt ist und dass Herr Stahl kein Investitions-Entscheidungsrecht über die Wertpapiere des Emittenten ausübt.
أفادت Horizon Kinetics Asset Management LLC في النموذج 4 بأنها اشترت 1,164,000 سهماً من Texas Pacific Land Corp (TPL) في 19/09/2025 بموجب رمز المعاملة P وبسعر مُبلغ عنه قدره 896.6 دولار. كما تكشف الوثيقة أن HKAM هي مدير و مالك بنسبة 10% من المصدر. وتوضح ملاحظة تفسيرية أن HKAM قد أفادت سابقاً بملكيتها المستفيدة لـ 3,578,173 سهماً في Schedule 13D وأن Murray Stahl يمتلك مصلحة مباشرة من 7,848 سهماً و مصلحة غير مباشرة تقارب 156,083 سهماً. وتوضح الوثيقة أن مدى المصلحة الاقتصادية لـ HKAM قد تم الكشف عنه وأن السيد ستال لا يـمارس سلطة اتخاذ القرار الاستثماري بشأن أوراق المصدر.
Horizon Kinetics Asset Management LLC 在 Form 4 中披露，该公司于 2025-09-19 通过交易代码 P 购买了 Texas Pacific Land Corp（TPL）1,164,000 股，成交价格为 896.6 美元。该申报还透露 HKAM 是发行人的 董事，并且是 10% 所有者。解释性说明指出 HKAM 之前在 Schedule 13D 中报告的实际控制的股票为 3,578,173 股，而 Murray Stahl 拥有 直接权益 7,848 股以及大约 156,083 股的间接权益。申报还澄清 HKAM 的经济利益范围已披露，且斯塔尔先生并未对发行人的证券行使投资裁量权。
Positive
- None.
Negative
- None.
Insights
TL;DR: A large purchase by a 10% owner and director suggests meaningful insider accumulation.
The Form 4 documents a purchase of 1,164,000 TPL shares at a reported price of $896.6 on 09/19/2025 by Horizon Kinetics Asset Management LLC, which is identified as both a director and a 10% owner. The filing references prior Schedule 13D disclosure of 3,578,173 beneficial shares, indicating HKAM’s sizable position. This transaction increases the manager’s disclosed holdings and updates the record of pecuniary interest. For investors, the change updates ownership concentration metrics and should be reflected in any cap table or shareholder-ownership analysis.
TL;DR: Director-level acquisition by a 10% holder raises governance and oversight interest but contains a note on limited individual discretion.
The filing shows HKAM holds both governance (director) and large economic stakes. The disclosure that Murray Stahl does not exercise investment discretion clarifies decision-making responsibilities, while the Schedule 13D reference provides context on aggregate holdings (3,578,173 shares plus Mr. Stahl’s direct and indirect interests). This combination of board representation and substantial ownership is material to governance assessments, shareholder voting dynamics, and potential influence on strategic decisions.
Horizon Kinetics Asset Management LLC ha riferito nel modulo 4 di aver acquisito 1.164.000 azioni di Texas Pacific Land Corp (TPL) il 19/09/2025, con codice di transazione P, a un prezzo riportato di 896,6 dollari. La documentazione indica inoltre che HKAM è direttore e proprietario del 10% dell’emittente. Una nota esplicativa specifica che HKAM aveva precedentemente riportato la proprietà beneficiaria di 3.578.173 azioni nel suo Schedule 13D e che Murray Stahl detiene un interesse diretto di 7.848 azioni e un interesse indiretto di circa 156.083 azioni. La dichiarazione chiarisce che l’estensione dell’interesse economico di HKAM è stata divulgata e che il sig. Stahl non esercita discrezione di investimento sui titoli dell’emittente.
Horizon Kinetics Asset Management LLC informó en el Formulario 4 haber adquirido 1.164.000 acciones de Texas Pacific Land Corp (TPL) el 19/09/2025, bajo el código de transacción P, a un precio reportado de 896,6 dólares. El registro también revela que HKAM es director y propietario del 10% de la entidad emisora. Una nota explicativa indica que HKAM ya había reportado previamente la titularidad de 3.578.173 acciones en su Schedule 13D y que Murray Stahl posee un interés directo de 7.848 acciones y un interés indirecto de aproximadamente 156.083 acciones. El registro aclara que se ha divulgado el alcance del interés pecuniario de HKAM y que el Sr. Stahl no ejerce discreción de inversión sobre las valores del emisor.
Horizon Kinetics Asset Management LLC는 Form 4에서 2025년 9월 19일 트랜잭션 코드 P에 따라 Texas Pacific Land Corp(TPL)의 1,164,000주를 매수했다고 보고했습니다. 보고가격은 896.6달러입니다. 이 서류는 또한 HKAM이 발행사의 이사이자 지분 10%의 소유주임을 밝힙니다. 해설 노트에 따르면 HKAM은 이전에 Schedule 13D에서 3,578,173주의 실질적 소유권을 보고했고, 머레이 스타르는 직접 보유 7,848주와 간접 보유 약 156,083주를 보유하고 있다고 합니다. 서류는 HKAM의 재무적 이해관계 범위가 공시되었으며 스타 씨가 발행인 증권에 대한 투자 재량권을 행사하지 않는다고 명시합니다.
Horizon Kinetics Asset Management LLC a déclaré dans le formulaire 4 avoir acquis 1 164 000 actions de Texas Pacific Land Corp (TPL) le 19/09/2025, sous le code de transaction P, à un prix déclaré de 896,6 dollars. Le dépôt indique également que HKAM est directeur et propriétaire à 10 % de l’émetteur. Une note explicative précise qu’HKAM avait précédemment déclaré une propriété bénéficiaire de 3 578 173 actions dans son Schedule 13D et que Murray Stahl détient un intérêt direct de 7 848 actions et un intérêt indirect d’environ 156 083 actions. Le dépôt précise que l’étendue de l’intérêt pécuniaire de HKAM est divulguée et que M. Stahl n’exerce pas de pouvoir discrétionnaire d’investissement sur les valeurs de l’émetteur.
Horizon Kinetics Asset Management LLC berichtete im Formular 4, dass es am 19.09.2025 1.164.000 Aktien von Texas Pacific Land Corp (TPL) unter dem Transaktionscode P zu einem gemeldeten Preis von 896,6 USD erworben hat. Die Einreichung weist auch darauf hin, dass HKAM Direktor und 10%-Eigentümer des Emittenten ist. Eine erläuternde Anmerkung besagt, dass HKAM zuvor die wirtschaftliche Eigentümerschaft von 3.578.173 Aktien in ihrem Schedule 13D gemeldet hat und dass Murray Stahl ein direktes Interesse von 7.848 Aktien und ein indirektes Interesse von ca. 156.083 Aktien hält. Die Einreichung stellt klar, dass der Umfang des wirtschaftlichen Interesses von HKAM offengelegt ist und dass Herr Stahl kein Investitions-Entscheidungsrecht über die Wertpapiere des Emittenten ausübt.
FAQ
What transaction did Horizon Kinetics report on Form 4 for TPL?
The Form 4 reports a purchase of 1,164,000 shares of Texas Pacific Land Corp on 09/19/2025 under transaction code P at a reported price of $896.6.
How many TPL shares did Horizon Kinetics previously report owning?
The filing references an amendment to Schedule 13D disclosing beneficial ownership of 3,578,173 shares.
Does the filing indicate any insider role for Horizon Kinetics or its principals?
Yes, the reporting person is identified as a Director and a 10% Owner; the filing also notes Murray Stahl’s direct and indirect interests of 7,848 and ~156,083 shares respectively.
Did Murray Stahl retain investment discretion over TPL securities according to the filing?
The filing states that Mr. Stahl does not exercise investment discretion with respect to the issuer’s securities.
When was the Form 4 signed and filed?
The Form 4 bears a signature dated 09/22/2025.
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