Texas Pacific Land Director Adds $1,058 Shares Through Multiple Entities
Texas Pacific Land Corp (TPL) reported insider trading activity through Form 4 filings on June 28, 2025, detailing transactions by Director Murray Stahl and Horizon Kinetics Asset Management LLC (HKAM).
Rhea-AI Filing Summary
Texas Pacific Land Corp (TPL) reported insider trading activity through Form 4 filings on June 28, 2025, detailing transactions by Director Murray Stahl and Horizon Kinetics Asset Management LLC (HKAM).
Key transaction details:
- Multiple purchases executed on June 25, 2025, at $1,058.52 per share through various entities
- Transactions made pursuant to a Rule 10b5-1 plan adopted on November 21, 2024
- HKAM holds beneficial ownership of 3,578,173 shares
- Murray Stahl holds direct interest in 7,848 shares and indirect interest in approximately 156,083 shares
Notable entities involved include Horizon Kinetics Hard Assets (325,815 shares), Polestar Offshore Fund (129,280 shares), and HKAM (637,763 shares). Mr. Stahl, who serves as Chairman, CEO, and CIO of HKAM, disclaims beneficial ownership except for his pecuniary interest.
Positive
- Director Murray Stahl and affiliated entities made multiple open market purchases of TPL shares at approximately $1,058 per share, demonstrating insider confidence
- The purchases were made under a pre-planned 10b5-1 trading plan established in November 2024, indicating a structured approach to accumulation
- Horizon Kinetics Asset Management LLC maintains a significant 10% ownership position with 637,763 shares, showing substantial institutional commitment
Negative
- None.
Insider Trade Summary
Net Buyer: 10 shares
Net Buy
11 txns
Insider
STAHL MURRAY, HORIZON KINETICS ASSET MANAGEMENT LLC
Role
Director | 10% Owner
Bought
10 shs ($11K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 2 | $1,058.52 | $2K |
| Purchase | Common Stock | 1 | $1,058.52 | $1K |
| Purchase | Common Stock | 3 | $1,058.52 | $3K |
| Purchase | Common Stock | 2 | $1,058.52 | $2K |
| Purchase | Common Stock | 1 | $1,058.52 | $1K |
| Purchase | Common Stock | 1 | $1,050.86 | $1K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 325,815 shares (Indirect, Horizon Kinetics Hard Assets);
Common Stock — 5,615 shares (Indirect, HORIZON CREDIT OPPORTUNITY FUND LP);
Common Stock — 8,235 shares (Direct);
Common Stock — 5,740 shares (Indirect, HORIZON COMMON INC);
Common Stock — 129,280 shares (Indirect, POLESTAR OFFSHORE FUND LTD);
Common Stock — 637,763 shares (Indirect, Horizon Kinetics Asset Management LLC);
Common Stock — 7,452 shares (Indirect, CDK PARTNERS LP);
Common Stock — 16,647 shares (Indirect, CDK FUND LTD);
Common Stock — 180 shares (Indirect, Spouse);
Common Stock — 5,490 shares (Indirect, FROMEX Equity Corp);
Common Stock — 24,024 shares (Indirect, FRMO Corp)
Footnotes (3)
- F1. 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.
- F2. Purchased pursuant to a Rule 10b5-1 plan adopted on November 21, 2024.
- F3. The amount of common shares of the Issuer reported excludes partnerships and other accounts in which Mr. Stahl has a controlling interest and are reported separately. These accounts are managed by HKAM, in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Officer but does not participate in investment decisions with respect to the securities of the Issuer. Mr. Stahl disclaims beneficial ownership over the shares reported except to the extent of his pecuniary interest, if any.
FAQ
What is Murray Stahl's total beneficial ownership position in TPL as of this Form 4?
According to the filing's explanatory notes, as of December 18, 2024, Murray Stahl held 7,848 shares directly and approximately 156,083 shares indirectly. Horizon Kinetics Asset Management LLC (HKAM), where Stahl serves as Chairman, CEO and Chief Investment Officer, beneficially owned 3,578,173 shares, though Stahl disclaims beneficial ownership of HKAM's shares except for his pecuniary interest.
Were TPL insider purchases made under a 10b5-1 trading plan?
Yes, the purchases made on June 25, 2025 were executed pursuant to a Rule 10b5-1 trading plan that was adopted on November 21, 2024, as disclosed in footnote 2 of the filing.
What is Murray Stahl's relationship to TPL according to the Form 4?
According to the Form 4, Murray Stahl serves as a Director of Texas Pacific Land Corporation (TPL). He is also the Chairman, Chief Executive Officer and Chief Investment Officer of Horizon Kinetics Asset Management LLC (HKAM), which is reported as a 10% owner of TPL.
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