Horizon Kinetics Amends TPL Stake, Signals Ownership Update

TL;DR

**Horizon Kinetics just updated its TPL ownership, watch for potential ripple effects.**

AI Summary

Horizon Kinetics Asset Management LLC, a significant shareholder in Texas Pacific Land Corp (TPL), filed an amended Schedule 13D on February 5, 2024, indicating a change in their beneficial ownership. This amendment, specifically Amendment No. 5, updates previous disclosures regarding their holdings in TPL's common stock, with the triggering event occurring on January 31, 2024. This matters to investors because Horizon Kinetics is a major institutional holder, and changes in their position can signal shifts in their confidence or strategy regarding TPL, potentially influencing other investors and the stock's performance.

Why It Matters

Changes in significant institutional ownership can impact a stock's perceived value and liquidity, as large holders often have deep insights into the company's prospects.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous disclosure, indicating an update rather than a new, potentially disruptive event.

Analyst Insight

Investors should monitor future filings from Horizon Kinetics to understand any further changes in their position, as this could indicate a shift in their investment thesis for Texas Pacific Land Corp.

Key Players & Entities

• Horizon Kinetics Asset Management LLC (company) — the entity filing the SC 13D/A amendment
• Texas Pacific Land Corp (company) — the subject company whose securities are being reported
• Jay Kesslen (person) — person authorized to receive notices for Horizon Kinetics LLC
• January 31, 2024 (date) — date of the event requiring the filing
• February 5, 2024 (date) — date the SC 13D/A was filed

Forward-Looking Statements

• Horizon Kinetics will continue to be a significant long-term holder of Texas Pacific Land Corp stock. (Horizon Kinetics Asset Management LLC) — medium confidence, target: 2025-02-05

FAQ

From the Filing

0001056823-24-000001.txt : 20240205 0001056823-24-000001.hdr.sgml : 20240205 20240205185539 ACCESSION NUMBER: 0001056823-24-000001 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20240205 DATE AS OF CHANGE: 20240205 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/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-91958 FILM NUMBER: 24597456 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: HORIZON KINETICS ASSET MANAGEMENT LLC CENTRAL INDEX KEY: 0001056823 ORGANIZATION NAME: IRS NUMBER: 133776334 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 470 PARK AVENUE SOUTH STREET 2: 4TH FLOOR SOUTH CITY: NEW YORK STATE: NY ZIP: 10016 BUSINESS PHONE: 646-495-7347 MAIL ADDRESS: STREET 1: 470 PARK AVENUE SOUTH STREET 2: 4TH FLOOR SOUTH CITY: NEW YORK STATE: NY ZIP: 10016 FORMER COMPANY: FORMER CONFORMED NAME: HORIZON ASSET MANAGEMENT LLC DATE OF NAME CHANGE: 20130813 FORMER COMPANY: FORMER CONFORMED NAME: HORIZON ASSET MANAGEMENT INC/NY DATE OF NAME CHANGE: 19990319 SC 13D/A 1 formsc13da.htm Horizon Kinetics LLC: Form SC 13D/A - Filed by newsfilecorp.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 5) TEXAS PACIFIC LAND CORPORATION (Name of Issuer)   Common Stock (Title of Class of Securities)   88262P102 (CUSIP Number)   Jay Kesslen c/o Horizon Kinetics LLC 470 Park Avenue South New York, NY 10016 646-867-1176 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 31, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d -1(e), 240.13d -1(f) or 240.13d -1(g), check the following box. ☐ Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1 Name of Reporting Persons   Horizon Kinetics Asset Management LLC 2 Check the Appropriate Box if a Member of a Group   (A):   ☐ (B):   ☐ 3 SEC Use Only     4 Source of Funds   WC 5 Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(D) or 2(E)   ☐ 6 Citizenship or Place of Organization   Delaware Number of Shares Beneficially Owned by Each Reporting Person with 7 Sole Voting Power   1,287,085 8 Shared Voting Power     9 Sole Dispositive Power   1,287,085 10 Shared Dispositive Power     11 Aggregate Amount Beneficially Owned by Each Reporting Person   1,287,085 12 Check if the Aggregate Amount in Row (11) Excludes Certain