Texas Pacific Land Corp. (TPL) filed a Form 4 reporting activity by Horizon Kinetics Asset Management LLC, a designated 10% owner. On 07/29/2025 the firm purchased 1 common share at $977.33. After the immaterial trade, HKAM now directly holds 1,163,963 shares of TPL. No derivative securities were involved and no shares were sold.
The filing also references HKAM’s amended Schedule 13D (12/18/2024) that cited beneficial ownership of 3,578,173 shares, plus separate interests held by Murray Stahl. The present Form 4 simply updates Section 16 records and does not alter HKAM’s economic stake in a meaningful way. Overall, the disclosure re-affirms HKAM’s status as a major shareholder without signaling a material change in ownership or strategy.
Horizon Kinetics Asset Management LLC (HKAM), a 10% owner of Texas Pacific Land Corp. (TPL), filed a Form 4 covering one direct open-market purchase.
- Transaction: 1 share of TPL common stock bought on 07/28/2025 at $980.04 (transaction code P).
- Post-trade holding: 1,163,962 shares held directly.
The filing reiterates information from HKAM’s 12/18/2024 Schedule 13D amendment, which disclosed total beneficial ownership of 3,578,173 shares across various accounts. The Form 4 clarifies HKAM’s pecuniary interest and notes that Murray Stahl, though associated with HKAM, does not exercise investment discretion over the issuer’s securities.
Horizon Kinetics Asset Management LLC (HKAM), a greater-than-10 % owner of Texas Pacific Land Corporation (TPL), filed a Form 4 disclosing a modest open-market purchase of 1 share of TPL common stock on 24-Jul-2025 at $924.63 (transaction code P).
Following the trade, HKAM’s direct holdings rise to 1,163,960 shares. A footnote cites HKAM’s 18-Dec-2024 Schedule 13D amendment, which reported 3,578,173 shares beneficially owned in aggregate, including Murray Stahl’s direct and indirect interests. The Form 4 reiterates that Mr. Stahl does not exercise investment discretion over the issuer’s securities.
No derivative positions or dispositions were reported.
Texas Pacific Land Corp (TPL) – Form 4 Insider Transaction
Horizon Kinetics Asset Management LLC (HKAM), a 10 % beneficial owner of TPL, filed a Form 4 for a transaction dated 11 July 2025. The filing shows a purchase (Code P) of 1 share of TPL common stock at a reported price of $1,062.60. Following this immaterial acquisition, HKAM’s direct ownership stands at 1,163,951 shares.
The explanatory note reiterates HKAM’s earlier Schedule 13D (18 Dec 2024) that disclosed overall beneficial ownership of 3,578,173 shares, plus Murray Stahl’s separate direct and indirect interests. The Form 4 clarifies HKAM’s pecuniary interest; Mr. Stahl himself does not exercise investment discretion over the issuer’s securities.
No derivative transactions were reported. The filing was signed by attorney-in-fact Jay Kesslen on 14 July 2025.
Materiality assessment: the incremental purchase of a single share is de minimis; it neither meaningfully changes HKAM’s stake nor signals a decisive shift in insider sentiment. The filing primarily updates administrative ownership records.