Bulldog Investors Discloses 0.06% Stake in Texas Pacific Land Corp

TL;DR

**Bulldog Investors just revealed a 0.06% stake in Texas Pacific Land Corp, signaling potential future interest.**

AI Summary

Bulldog Investors, LLP and Phillip Goldstein filed an SC 13D on January 22, 2024, disclosing their beneficial ownership of 4,502 shares of Texas Pacific Land Corp, representing 0.06% of the class. This filing indicates that Bulldog Investors, a hedge fund, has taken a small but notable position in the company, with the event triggering the filing occurring on January 17, 2024. For investors, this matters because it signals that an institutional investor sees value in Texas Pacific Land Corp, potentially leading to increased scrutiny or future activist involvement, even with such a small initial stake.

Why It Matters

This filing reveals an institutional investor, Bulldog Investors, has initiated a position in Texas Pacific Land Corp, which could signal future engagement or a belief in the company's undervaluation.

Risk Assessment

Risk Level: low — The disclosed stake is very small (0.06%), so it poses minimal immediate risk or impact on the company's operations or stock price.

Analyst Insight

A smart investor would monitor future filings from Bulldog Investors for any increase in their stake or activist intentions, as this initial small position is more of a 'watch item' than an immediate catalyst.

Key Numbers

• 4,502 — Shares Owned (Total shares of Texas Pacific Land Corp beneficially owned by the reporting persons.)
• 0.06% — Percent of Class (The percentage of Texas Pacific Land Corp's outstanding shares owned by the reporting persons.)

Key Players & Entities

• Bulldog Investors, LLP (company) — reporting person and investment firm
• Phillip Goldstein (person) — reporting person associated with Bulldog Investors
• Texas Pacific Land Corp (company) — subject company of the filing
• 4,502 (dollar_amount) — aggregate amount of shares owned
• 0.06% (dollar_amount) — percent of class represented by ownership
• January 17, 2024 (date) — date of event requiring filing

Forward-Looking Statements

• Bulldog Investors may increase its stake in Texas Pacific Land Corp. (Bulldog Investors, LLP) — medium confidence, target: Within 6-12 months
• Texas Pacific Land Corp's stock price will see minimal immediate impact from this filing. (Texas Pacific Land Corp) — high confidence, target: Within 1 month

FAQ

From the Filing

0001398344-24-000853.txt : 20240122 0001398344-24-000853.hdr.sgml : 20240122 20240122170526 ACCESSION NUMBER: 0001398344-24-000853 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20240122 DATE AS OF CHANGE: 20240122 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Texas Pacific Land Corp CENTRAL INDEX KEY: 0001811074 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 750279735 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-91958 FILM NUMBER: 24549634 BUSINESS ADDRESS: STREET 1: 1700 PACIFIC AVENUE STREET 2: SUITE 2900 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 214-969-5530 MAIL ADDRESS: STREET 1: 1700 PACIFIC AVENUE STREET 2: SUITE 2900 CITY: DALLAS STATE: TX ZIP: 75201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Bulldog Investors, LLP CENTRAL INDEX KEY: 0001504304 ORGANIZATION NAME: IRS NUMBER: 270926182 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: PARK 80 WEST - PLAZA TWO STREET 2: 250 PEHLE AVE. SUITE 708 CITY: SADDLE BROOK STATE: NJ ZIP: 07663 BUSINESS PHONE: 201 556-0092 MAIL ADDRESS: STREET 1: PARK 80 WEST - PLAZA TWO STREET 2: 250 PEHLE AVE. SUITE 708 CITY: SADDLE BROOK STATE: NJ ZIP: 07663 FORMER COMPANY: FORMER CONFORMED NAME: Bulldog Investors, LLC DATE OF NAME CHANGE: 20130610 FORMER COMPANY: FORMER CONFORMED NAME: Brooklyn Capital Management LLC DATE OF NAME CHANGE: 20101026 SC 13D 1 fp0086902-1_sc13d.htm SCHEDULE 13D DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT 1/17/2024 1. NAME OF REPORTING PERSON Bulldog Investors, LLP 2. CHECK THE BOX IF MEMBER OF A GROUP a[] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION DE ___________________________________________________________ 7. SOLE VOTING POWER 102 8. SHARED VOTING POWER 4,400 9. SOLE DISPOSITIVE POWER 102 _______________________________________________________ 10. SHARED DISPOSITIVE POWER 4,400 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 4,502 (Footnote 1) 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] ___________________________________________________________ 13. PERCENT OF CLASS REPRESENTED BY ROW 11 0.06% 14. TYPE OF REPORTING PERSON IA ___________________________________________________________ 1. NAME OF REPORTING PERSON Phillip Goldstein 2. CHECK THE BOX IF MEMBER OF A GROUP a[] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ___________________________________________________________ 7. SOLE VOTING POWER 102 8. SHARED VOTING POWER 4,400 9. SOLE DISPOSITIVE POWER 102 _______________________________________________________ 10. SHARED DISPOSITIVE POWER 4,400 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 4,502 (Footnote 1) 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] ___________________________________________________________ 13. PERCENT OF CLASS REPRESENTED BY ROW 11 0.06% 14. TYPE OF REPORTING PERSON IN ___________________________________________________________ 1. NAME OF REPORTING PERSON Andrew Dakos 2. CHECK THE BOX IF MEMBER OF A GROUP a[] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ___________________________________________________________ 7. SOLE VOTING POWER 102 8. SHARED VOTING POWER 4,400 9. SOLE DISPOSITIVE POWER 102 _______________________________________________________ 10. SHARED DISPOSITIVE POWER 4,400 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 4,502 (Footnote 1) 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] _________________