[Form 4] Texas Pacific Land Corporation Insider Trading Activity
Horizon Kinetics Asset Management LLC reported a Section 16 Form 4 disclosing a transaction in Texas Pacific Land Corp (TPL). The filing reports a transaction dated 08/28/2025 coded “P” showing an acquisition at a price of $909.74 and indicates beneficial ownership of 1,163,985 shares following the reported transaction. The explanatory note cites a prior Schedule 13D amendment showing HKAM's beneficial ownership of 3,578,173 shares and discloses that Murray Stahl has a direct interest in 7,848 shares and an indirect interest in approximately 156,083 shares; it states Mr. Stahl does not exercise investment discretion. The form is signed by an attorney-in-fact on 08/29/2025.
Horizon Kinetics Asset Management LLC ha presentato un modulo Section 16 Form 4 che riporta una transazione relativa a Texas Pacific Land Corp (TPL). La comunicazione segnala una operazione datata 08/28/2025 con codice “P”, indicante un acquisto a un prezzo di $909.74, e dichiara una titolarità beneficiaria di 1,163,985 azioni a seguito della transazione riportata. La nota esplicativa richiama una precedente integrazione al Schedule 13D che mostrava la titolarità beneficiaria di HKAM pari a 3,578,173 azioni e specifica che Murray Stahl detiene un interesse diretto in 7,848 azioni e un interesse indiretto in circa 156,083 azioni; viene dichiarato che il sig. Stahl non esercita discrezionalità sugli investimenti. Il modulo è firmato da un procuratore il 08/29/2025.
Horizon Kinetics Asset Management LLC presentó un Formulario Section 16 Form 4 que divulga una transacción en Texas Pacific Land Corp (TPL). El documento informa de una operación con fecha 08/28/2025 codificada como “P”, que refleja una adquisición a un precio de $909.74, e indica una tenencia beneficiaria de 1,163,985 acciones tras la transacción reportada. La nota explicativa remite a una enmienda previa del Schedule 13D que mostraba la tenencia beneficiaria de HKAM de 3,578,173 acciones y revela que Murray Stahl tiene un interés directo en 7,848 acciones y un interés indirecto en aproximadamente 156,083 acciones; se afirma que el Sr. Stahl no ejerce discreción de inversión. El formulario está firmado por un apoderado el 08/29/2025.
Horizon Kinetics Asset Management LLC는 Texas Pacific Land Corp(TPL)에 관한 거래를 공시한 Section 16 Form 4를 제출했습니다. 해당 서류는 08/28/2025자 거래를 코드 “P”로 표기하며 단가 $909.74에 취득한 것으로 보고하고, 보고된 거래 이후의 실질 보유주식 수를 1,163,985주로 기재하고 있습니다. 설명 노트에는 HKAM의 실질 보유주식이 3,578,173주였음을 보여주는 이전 Schedule 13D 수정 보고를 인용하고, Murray Stahl이 직접 보유한 주식은 7,848주, 간접 보유는 약 156,083주임을 공개하며 Stahl 씨는 투자 재량을 행사하지 않는다고 명시되어 있습니다. 해당 양식은 08/29/2025에 대리인이 서명했습니다.
Horizon Kinetics Asset Management LLC a déposé un formulaire Section 16 Form 4 divulguant une transaction dans Texas Pacific Land Corp (TPL). Le dépôt fait état d’une opération datée du 08/28/2025 codée « P », indiquant une acquisition au prix de $909.74, et précise une détention bénéficiaire de 1,163,985 actions après la transaction signalée. La note explicative renvoie à un amendement antérieur du Schedule 13D montrant la détention bénéficiaire de HKAM de 3,578,173 actions et révèle que Murray Stahl détient un intérêt direct sur 7,848 actions et un intérêt indirect d’environ 156,083 actions ; il est indiqué que M. Stahl n’exerce pas de pouvoir discrétionnaire en matière d’investissement. Le formulaire est signé par un mandataire le 08/29/2025.
Horizon Kinetics Asset Management LLC hat ein Section 16 Form 4 eingereicht, das eine Transaktion in Texas Pacific Land Corp (TPL) offenlegt. Die Einreichung meldet eine Transaktion vom 08/28/2025, codiert mit „P“, die einen Erwerb zu einem Preis von $909.74 ausweist, und gibt einen wirtschaftlichen Besitz von 1,163,985 Aktien nach der gemeldeten Transaktion an. Die erläuternde Anmerkung verweist auf eine frühere Änderung des Schedule 13D, die HKAMs wirtschaftlichen Besitz von 3,578,173 Aktien zeigte, und legt offen, dass Murray Stahl ein direktes Interesse an 7,848 Aktien und ein indirektes Interesse an etwa 156,083 Aktien hält; außerdem wird angegeben, dass Herr Stahl keine Anlageentscheidungsbefugnis ausübt. Das Formular ist am 08/29/2025 von einem Bevollmächtigten unterschrieben worden.
- Clear disclosure of HKAM's beneficial ownership (3,578,173 shares) and Mr. Stahl's direct (7,848) and indirect (~156,083) interests
- Transaction details provided: date (08/28/2025), execution code (P), and price ($909.74), improving transparency
- None.
Insights
TL;DR: Routine insider acquisition filing clarifies HKAM and Murray Stahl ownership levels without indicating a change in control or voting discretion.
The Form 4 documents a purchase-style transaction on 08/28/2025 with an execution code "P" and a reported price of $909.74, resulting in 1,163,985 shares held by the reporting entity following the trade. The filing references a Schedule 13D amendment showing total HKAM beneficial ownership of 3,578,173 shares and discloses Mr. Murray Stahl's small direct and indirect holdings, while explicitly stating he does not exercise investment discretion. This is a disclosure and does not itself provide operational or financial results for the issuer.
TL;DR: Disclosure strengthens transparency on beneficial ownership and clarifies delegation of investment discretion.
The submission reinforces public record on ownership concentrations by HKAM and separately documents Murray Stahl's limited direct and indirect interests plus his lack of investment control. From a governance standpoint, the filing improves clarity about who holds voting/investment authority, which is relevant for shareholder engagement and proxy considerations, but it does not indicate any change in board composition, control or material corporate actions.
Horizon Kinetics Asset Management LLC ha presentato un modulo Section 16 Form 4 che riporta una transazione relativa a Texas Pacific Land Corp (TPL). La comunicazione segnala una operazione datata 08/28/2025 con codice “P”, indicante un acquisto a un prezzo di $909.74, e dichiara una titolarità beneficiaria di 1,163,985 azioni a seguito della transazione riportata. La nota esplicativa richiama una precedente integrazione al Schedule 13D che mostrava la titolarità beneficiaria di HKAM pari a 3,578,173 azioni e specifica che Murray Stahl detiene un interesse diretto in 7,848 azioni e un interesse indiretto in circa 156,083 azioni; viene dichiarato che il sig. Stahl non esercita discrezionalità sugli investimenti. Il modulo è firmato da un procuratore il 08/29/2025.
Horizon Kinetics Asset Management LLC presentó un Formulario Section 16 Form 4 que divulga una transacción en Texas Pacific Land Corp (TPL). El documento informa de una operación con fecha 08/28/2025 codificada como “P”, que refleja una adquisición a un precio de $909.74, e indica una tenencia beneficiaria de 1,163,985 acciones tras la transacción reportada. La nota explicativa remite a una enmienda previa del Schedule 13D que mostraba la tenencia beneficiaria de HKAM de 3,578,173 acciones y revela que Murray Stahl tiene un interés directo en 7,848 acciones y un interés indirecto en aproximadamente 156,083 acciones; se afirma que el Sr. Stahl no ejerce discreción de inversión. El formulario está firmado por un apoderado el 08/29/2025.
Horizon Kinetics Asset Management LLC는 Texas Pacific Land Corp(TPL)에 관한 거래를 공시한 Section 16 Form 4를 제출했습니다. 해당 서류는 08/28/2025자 거래를 코드 “P”로 표기하며 단가 $909.74에 취득한 것으로 보고하고, 보고된 거래 이후의 실질 보유주식 수를 1,163,985주로 기재하고 있습니다. 설명 노트에는 HKAM의 실질 보유주식이 3,578,173주였음을 보여주는 이전 Schedule 13D 수정 보고를 인용하고, Murray Stahl이 직접 보유한 주식은 7,848주, 간접 보유는 약 156,083주임을 공개하며 Stahl 씨는 투자 재량을 행사하지 않는다고 명시되어 있습니다. 해당 양식은 08/29/2025에 대리인이 서명했습니다.
Horizon Kinetics Asset Management LLC a déposé un formulaire Section 16 Form 4 divulguant une transaction dans Texas Pacific Land Corp (TPL). Le dépôt fait état d’une opération datée du 08/28/2025 codée « P », indiquant une acquisition au prix de $909.74, et précise une détention bénéficiaire de 1,163,985 actions après la transaction signalée. La note explicative renvoie à un amendement antérieur du Schedule 13D montrant la détention bénéficiaire de HKAM de 3,578,173 actions et révèle que Murray Stahl détient un intérêt direct sur 7,848 actions et un intérêt indirect d’environ 156,083 actions ; il est indiqué que M. Stahl n’exerce pas de pouvoir discrétionnaire en matière d’investissement. Le formulaire est signé par un mandataire le 08/29/2025.
Horizon Kinetics Asset Management LLC hat ein Section 16 Form 4 eingereicht, das eine Transaktion in Texas Pacific Land Corp (TPL) offenlegt. Die Einreichung meldet eine Transaktion vom 08/28/2025, codiert mit „P“, die einen Erwerb zu einem Preis von $909.74 ausweist, und gibt einen wirtschaftlichen Besitz von 1,163,985 Aktien nach der gemeldeten Transaktion an. Die erläuternde Anmerkung verweist auf eine frühere Änderung des Schedule 13D, die HKAMs wirtschaftlichen Besitz von 3,578,173 Aktien zeigte, und legt offen, dass Murray Stahl ein direktes Interesse an 7,848 Aktien und ein indirektes Interesse an etwa 156,083 Aktien hält; außerdem wird angegeben, dass Herr Stahl keine Anlageentscheidungsbefugnis ausübt. Das Formular ist am 08/29/2025 von einem Bevollmächtigten unterschrieben worden.
FAQ
What transaction did Horizon Kinetics report on the Form 4 for TPL?
How many Texas Pacific Land (TPL) shares does Horizon Kinetics beneficially own according to the filing?
What holdings does the filing attribute to Murray Stahl?
When was the Form 4 signed and by whom?
Does the Form 4 indicate any change in control or board representation at TPL?
