Horizon Kinetics Form 4 updates TPL holdings; Schedule 13D cites 3.58M shares
Rhea-AI Filing Summary
Horizon Kinetics Asset Management LLC reported a change in beneficial ownership of Texas Pacific Land Corp (TPL). The Form 4 shows a transaction dated 10/01/2025 for Common Stock with code P recording 1 share acquired at a price of $944.99. Following the reported transaction, the filing lists 1,162,534 shares beneficially owned in the table entry.
The filer is identified as a Director and checked as a 10% owner. The explanatory note references a December 18, 2024 Schedule 13D amendment disclosing HKAM beneficial ownership of 3,578,173 shares and Murray Stahl's direct and indirect interests of 7,848 and approximately 156,083 shares, and states certain accounts without pecuniary interest were removed from the reported total.
Positive
- Director and 10% owner status explicitly checked for Horizon Kinetics
- Schedule 13D disclosure referenced: 3,578,173 shares beneficially owned as of the amendment
- Specific transaction detail provided: 1 share at $944.99 on 10/01/2025
Negative
- Form provides limited context for transaction code P; the filing does not explain the nature of the coded transaction beyond the code
- Discrepancy in totals across filings requires cross-reference: Table line shows 1,162,534 shares while the referenced Schedule 13D cites 3,578,173 shares (explanatory note indicates removal of certain accounts)
Insights
Form 4 confirms insider status and sizable reported holdings.
The filing identifies Horizon Kinetics as both a director-level filer and a 10% owner, which is material because it signals significant voting and ownership influence in TPL as explicitly stated. The explanatory reference to a Schedule 13D amendment provides a disclosed total beneficial ownership figure of 3,578,173 shares, and quantifies Murray Stahl's direct and indirect stakes.
The transaction row reports a single-share acquisition at a specific price but lacks descriptive detail.
The table shows a transaction on 10/01/2025 labeled code P for 1 share at $944.99 and updates beneficial ownership to 1,162,534 shares for that line. The filing also explains that some accounts were removed from the reported amount because the reporting person has no pecuniary interest in them. The document does not provide narrative beyond these explicit figures.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 1 | $944.99 | $944.99 |
Footnotes (1)
- On December 18, 2024, Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13D, in which it noted beneficial ownership of 3,578,173 shares and Murray Stahl's direct interest in 7,848 shares and his indirect interest in approximately 156,083 shares. The extent of HKAM's pecuniary interest in the shares beneficially owned is disclosed herein. Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer. This amount reflects the removal of certain accounts that hold shares of the Issuer in which the Reporting Person has no pecuniary interest.
